Once you have decided on the features that you want, the next question is how much it will cost to develop a cryptocurrency exchange. Different platforms are different and the cost of each one will vary depending on many factors. We have broken down the entire process of developing a white label crypto exchange platform into smaller steps and listed the costs for each step.
So, let's begin.
1. Front-End Development
This is what your users see. The front-end of your platform may be confusing or not attractive to users. They might not want to continue using it. Hiring the best front-end developers for your platform is crucial so that all visual elements are preserved and the platform looks appealing and attractive.
Cost: Approx. $5000
2. Back-End Development
Front-end development works on the visual aspects of the user interface, while backend-end is for the server. This involves all aspects of the exchange platform's functionality and therefore, it is important to pay attention. Here is where the majority of development time is spent. This includes deciding on technologies and functionalities, and then working on them.
Cost: $40,000-$50,000
3. Integration of APIs
API integration is an essential aspect of every Crypto Clone development. If you do not get it right, all your efforts may be wasted. Your app's logic and internal operation, as well as the functioning of cryptocurrency exchange websites like Binance, Ethereum Etc., are all determined by APIs. Either you can develop your own API or integrate third-party APIs.
Cost : $40,000-$70,000 (depending upon the auto tests).
4. Blockchain Integration
As we all know, cryptocurrencies are an important part of blockchain development. It is crucial to integrate this technology in order to have a fully functioning trading platform. The cost of cryptocurrency development services will vary depending on the type of development company and what type you choose. For data storage and processing to be smooth, blockchain integration is essential.
Cost: $5000-$10,000
5. Security and Testing
Once everything is built, it's important to test whether the platform works before you launch it. Here is where quality assurance experts come in. Every aspect of the UI/UX, as well as the basic functions, are checked for errors and bugs. To ensure safety and bug-free development, the company employs both an automated and manual testing approach.
Crypto Clone App Development requires that you perform a security audit. This stage includes elements such as architecture and user verification. Your exchange platform is now ready to go once everything has been approved.
Cost: $20,000-$25,000
Final words
It is an excellent idea to create your own white label cryptocurrency exchange platform, given the worldwide demand for cryptocurrency and crypto lovers. These digital currencies are increasingly popular and people are more inclined to trade and invest in them. This is why creating a secure and high-quality platform for users will bring in great revenue.
Not all app development companies will be great for your project. It is important to do your research before you hire anyone. Look for one with a large portfolio and positive reviews from clients for projects in the same area.
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