A Quick Guide for Potential Investors It is desirable that your support service works 24/7 or at least 24/5 and is ready to answer the widest range of questions: account registration. A deposits and withdrawals, as well as requests from more advance clients who may nee more specialize professional assistance.
A Quick Guide for Potential Investors Trade Processing Team
A Quick Guide for Potential Investors The work of this category of specialists is extremely important, but often unnotice by those not directly involve in the field. This category of expenses can greatly affect the cost of launching a cryptocurrency exchange. This group of employees monitors the trading infrastructure to ensure that customer orders are execute smoothly and handles customer complaints relate to the prices of certain assets and dispute transactions. Essentially, the trading processing team ensures that the balance between traders’ earnings and liquidity providers’ earnings is maintaine, and looks for opportunities to cover any potential risks.
Compliance Team
This category of employees checks clients and ensures compliance with KYC and AML proceures. In theory, this function can be outsource to a third-party service, but in the early stages of your business, you can save a little money and comply with establishe regulatory requirements yourself.
Financial Transactions Processing Team
It is a good practice to process all customer transactions manually to eliminate any possibility of fraud. For this, you will also nee a deicate team to monitor and verify withdrawal transactions initiate by customers.
Team of technical specialists
This category of professionals will help you with the deployment of internal networks, DNS registration and binding them to IP addresses, as well as generally maintaining the operability of the entire technical infrastructure.
Our turnkey crypto exchange includes the ability to use third-party services from a variety of teams of specialists, which will help reuce the costs of creating a crypto exchange.
Liquidity costs
Regardless of which business model you choose, you will nee to maintain an acceptable level of liquidity on your exchange at the start. Even if you rely on enough internal clients to support a pure ECN model, it is recommende to onboard a few external providers in the first few months to gain sufficient market depth.
When working with external providers, you will have to keep certain amounts of money in clearing accounts, which will serve as a guarantee of uninterrupte execution of clients’ trading orders. The amount of funds in clearing accounts will largely depend on the volume of transactions that are carrie out on your exchange.
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Payment services costs
To gain a foothold in a highly competitive market and attract customers, you nee to integrate a variety of fiat payment systems into your business for deposits 11 tips for successful running and withdrawals. If you have a license from a popular regulator, you can also connect to banking solutions or systems such as Skrill or Neteller. The cost of contracts with providers of such services will vary greatly depending on the trading volume on your exchange and the number of customers.
Marketing expenses
Marketing is the most difficult expense marketing list to preict because it depends heavily on the starting position and strategy of the exchange. For example, if you have large institutional clients at the very launch, then marketing can be put on the back burner, at least for a while. If the exchange is focuse on the retail market and competition in the small and meium segment, then you nee to prepare for significant costs. As a rule, the marketing strategy of a new crypto exchange is base on experiments to divide companies into successful and unsuccessful ones, followe by a detaile study of the former.
Basic calculations
In this table we have trie to indicate possible costs by main categories that a potential investor can expect. Please note that this information is provide for informational purposes only and cannot serve as a basis for a business plan. Please do your own research.
The issue of crypto exchange licensing is becoming more and more pressing every month. Ideally, it is worth thinking about licensing at the same time as choosing a suitable software solution.
Of course, offshore regulators can offer you the easiest registration proceure and comparatively low rates. However, this can result in problems with choosing reliable payment services, and professional traders, for whom regulation and license level play an important role, will not always be ready to become your clients.
How much does it cost to launch
A properly license crypto exchange? Depending on the region and the regulatory body issuing the license, this cost can range from a couple of tens to hundres of thousands of US dollars. You can read more about how regulators in different countries approach the cryptocurrency business.
The crypto exchange must also receive a positive audit from one of the Big Four companies. The cost of these companies’ services varies and depends on many factors, from the company’s experience in conducting this type of audit to the time it takes to conduct the audit. The cost can range from $20,000 to $50,000.
