Very soon, the Evercode Lab team is going to take another huge step. In addition to our White Label Crypto Wallet solution, we are going to offer a White Label exchange. This WL product will enable our customers to quickly launch and easily manage their own crypto exchange platforms, under their brands. We think this option is a widely sought after one, in spite of the negative market dynamics we face. In this piece, we will explain why we believe so.
Crypto Exchange Market Now
As of now, there are roughly 600 cryptocurrency exchanges in existence, according to Forbes Advisor. While the volume of transactions may vary, as crypto prices fluctuate. However, recently, the total daily spot trade volume was as high as $67 billion.
The lion’s share of the trade volume, 79%, is processed by the TOP-10 cryptocurrency exchanges. More than that, as much as 63% is controlled by the TOP-4 exchanges. However, even under these circumstances, a crypto exchange carrying your logo can claim your share of the remaining volume. If you think of the sheer size of the market, even this seemingly tiny share might give you a lot of money.
What to Offer? How Traders Choose Crypto Exchanges?
To claim your share and successfully monetize your crypto exchange platform, you need to win enough customers. Hence, you need to be sure that the functionalities offered by your WL exchange product of choice match traders’ expectations. As you will see below, these expectations are not that high:
According to BDC Consulting, the most typical priorities are as follows:
- 54.26% appreciate ‘deposit and withdrawal time’
- 53.18% pay attention to fees charged by exchanges
- 44.50% assume the amount of available exchange pairs is extremely important
- Finally, 37.21% place emphasis on user-friendliness of the interface
You can be sure that each of these needs will be fully covered by the WL crypto exchange solution we are about to release. Stay tuned! Soon we will post a detailed description of it.