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Turnkey Crypto Exchange vs. Development from Scratch

By admin on February 23, 2023

Reading Time: 2 minutes

There is an ongoing battle what software for new crypto exchanges is the best, turnkey or developed from scratch. Let’s find out!

Comparison: Turnkey Crypto Exchange vs. Developing from Scratch

In launching a cryptocurrency exchange, the key aspect to decide is the type of development: turnkey or from scratch. If you want to choose the right fit for your enterprise, follow up.

General Overview

Cryptocurrency exchange is a service for trading digital currencies. Its smooth operation requires that many modules be implemented and debugged.

If we talk about building a site from scratch, it means your business needs a team of developers to create an efficient platform, with clear interface and attractive design.

A turnkey solution, on the other hand, is an alternative approach. For that, you need to find the best cryptocurrency exchange software, negotiate details with the provider, and sign an agreement.

What is the difference?

When you build your exchange independently you need to develop a trading engine, platform, liquidity aggregator, electronic wallets, a personal account and other modules. A freshly developed platform costs a lot, from $300,000, while its development takes up to a year, with some more months to fix it.

Speaking of ready-made software, providers have necessary tools for a stable launch, plus extra features, like trading bots, consulting, referral program, staking, etc. Usually, you can customize the template, modifying interface and functionality. Such sites start from $10,000 and take 2 weeks to launch.

To install your own domain with new software, you need to invite a team of professional developers well-versed in the specifics of the crypto sphere and its security. After development, they need to test the final product and fix bugs. The process can last for 2 years, with no guarantee of the final quality.

Simultaneously, white label software is here to be modified according to your preferences. Additionally, you can get a demo version that you can test before purchasing. If you are satisfied with the product, it takes a couple of weeks to prepare your platform and launch online.

If your site is developed by your coders, you own the source code and all the rights to it, whereas it may not always be the case with turnkey solutions. Nevertheless, some ready-made software suits do contain the source code.

Bottom line

Software for crypto exchange developed from ground zero and the one purchased all-prepared serve the main purpose, to be an environment for trading cryptocurrencies. While it is possible to create a one-of-a-kind site from scratch, white label allows you to smoothly install a trouble-free service within weeks.