TraderX Launching Innovative White Label Solutions for Cryptocurrency Exchanges

SINGAPORE, Jan. 30, 2023 /PRNewswire/ -- In 2020, CoinBase reportedly made $1.3 billion in revenue and had a net income of $322 million while 2021 was even higher at $1.8 billion in revenue and an annual net income of $3624 million. As appetizing as those profits might sound, creating a cryptocurrency exchange can be a costly and complex endeavor, and development costs are one of the main financial barriers to entry that can make it difficult for ordinary entrepreneurs to start their own exchange.

The costs of operating a cryptocurrency exchange can be mainly divided into 3 categories:

• Development Costs of the Complete Trading System

Cryptocurrency exchanges require specialized software to handle the buying and selling of digital assets. This software can be complex and costly to develop, especially for smaller exchanges and doesn't include the costs for security systems. 

• Long-term Fixed Expenses such as Wallet, Liquidity, and Server Operation Maintenance

Liquidity costs refer to the ability of an exchange to have enough funds so buyers and sellers can be quickly and easily matched. Other related costs include server and wallet maintenance, which both are to ensure trades can safely occur without issues.

• Human Resources Cost for R&D, Operational, and Technical Support

Hiring staff and keeping highly professional employees trained in both web3 and experienced in technical exchange support becomes more expensive due to the high demands of such individuals. 

All these costs together can be extremely high and possibly price out an ordinary entrepreneur from creating their own exchange, making it almost impossible to enter the market and own a portion of the industry. These 3 costs can be greatly reduced by using label services. Enter TraderX.

TraderX, Your Turnkey Solution to Building A Cryptocurrency Exchange

Headquartered in Singapore, TraderX, a global blockchain and fintech company, offers a solution to the financial barriers to entry for creating a cryptocurrency exchange for ordinary entrepreneurs. The company provides turnkey solutions, which means that it provides entrepreneurs with all the necessary software and infrastructure for running a successful cryptocurrency exchange. This eliminates the need for entrepreneurs to develop their own technology and security systems, reducing development costs.

Additionally, TraderX provides liquidity solutions, which help ensure that the exchange has adequate trading volume and can attract customers. This eliminates the need for entrepreneurs to invest in expensive liquidity provision strategies. The platform also includes marketing and advertising tools that help entrepreneurs promote their exchange and attract customers, reducing the need for large marketing and advertising expenses.

The all-inclusive turnkey solution contains their comprehensive SAAS service and shared liquidity while the customizable packages are ideal for those who already have their own market making and liquidity for their trading pairs. The support services don't stop there as marketing packages for new exchanges are also readily available, making TraderX undeniably useful for entities who aren't interested in building a team from scratch for the various operations required of a centralized cryptocurrency exchange.

Having prominent and existing exchanges invested in TraderX and years of business experience within the field, the company offers its services at more reasonable rates compared to fellow competitors, making them one of the few options to thoroughly consider when looking for technical back-end solutions for new centralized exchanges. Enterprises can focus on the operations, sales, and marketing part of their exchange business without needing to onboard web3 technical staff for back-end development and network maintenance.

Deployment & Transaction Speeds Beyond the Industry Average

Applying for a banking or exchange license in applicable countries might take years but setting your cryptocurrency exchange shouldn't. Based on cutting-edge technology and an innovative backend management system, TraderX seeks to revolutionize how exchanges should be and the minimal amount of time required to deploy an MVP and even shorter for the fully functioning version. With a minimal outlay of 1 month, all back-end work for perpetual futures, delivery futures, and other prediction markets can be up and running with assistance for both software and liquidity.

Speed isn't just involving your ability to join the market. Competing services mostly provide an average API capacity of 100 transactions per second. This can drastically limit the scalability of an exchange's business down the road. TraderX provides 10,000 TPS to avoid any bottlenecks at the API front and ensures clients can focus on running their exchange business regardless of how big they scale their business.

Goodbye to Absurd Fees

No longer are the days when integrating a new chain or trading pair on a weekly basis would be too costly to imagine. Clients who also wish to deploy their tokens on a variety of exchanges would also enjoy the added benefit and guidance from TraderX without the absurd time required for contract deployment or ridiculous fees. TraderX's SAAS structure includes all back-end functionalities required for a functional working product. This also includes support for server hosting, supporting new chains for wallet management, and liquidity management for trading depth without clients needing to pay for each add-on.

24hr Technical Support, on the House

For anyone who might already have experienced using exchanges, you'd know if something could go wrong, they sooner or later will.  24/7 customer support is paramount for any black swan events that occur in the web3 industry. TraderX believes such emergency support for all who run exchange businesses should be the norm.

TraderX dedicates a team of professionals to provide prompt resolutions during duress. This is achieved by relying on the company's in-house team of technical staff and customer support staff working as one during potential times of emergencies. Supported languages for emergency customer support are as follows: English, Japanese, Korean, Russian, Turkish, Chinese, Vietnamese, Thai, Indonesian, and Spanish.

TraderX & Security

Security is paramount for any centralized exchange to thrive. Almost half of the top hacks involving the most liquidity lost happened to exchanges for their poor security protocols and policies. All of these issues can be properly addressed with data encryption, hardware wallet management, and frequent security audits to test the robustness of the exchange's security practices. TraderX ensures such practices are regularly taken, helping clients to avoid making similar mistakes that failed exchanges have in the past.

TraderX provides a comprehensive, cost-effective solution that eliminates the need for entrepreneurs to invest in expensive technology, security, liquidity, and marketing and advertising. This makes it possible for ordinary entrepreneurs to enter the cryptocurrency exchange market and start their own exchange, putting the future of finance within reach of your fingertips.

For more information, visit their website or email TraderX directly to speak with one of their representatives. Emails can be in any language and the right representative will respond promptly. The next bull cycle and mass crypto adoption by enterprises and governments. Are you ready to own a piece of the newly evolving exchange industry?

Website: https://www.traderx.vip/en

Twitter: https://twitter.com/RealTraderX

Facebook: https://www.facebook.com/profile.php?id=100089129889725

LinkedIn: https://www.linkedin.com/company/traderx-official/about/

Email: [email protected]

SOURCE TraderX