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The Best White-Label Crypto Exchange and Crypto Tool Kits

  • Crypto tool kits are fostering a new global wave in entrepreneurship and are producing a sudden flurry of new products and services
  • Most of these tools are built for trading, but some of them are made to help builders to make their own custom crypto products, markets and exchanges
  • Open-source kits and crypto white-label software especially allow for quick product design and iteration to reach product market cost-effectively
  • These tools are allowing more talent to migrate from classical finance to crypto finance
  • The asset tokenization and tokenomic design can now be architected within an exchange software kit which has token and coins creation tools built in
  • In 2021, a handful of white-label crypto exchange tool kits have stood out from the rest due to their extreme affordability and ease-of-use

Like a fine wine, the crypto space continues to mature. Pent up demand and talent are rushing into the crypto sector and with an abundance of crypto toys and tools out there, rain or shine, low or high, it's happening!

You don’t need to look far. Look around and you’ll find debit and credit cards utilizing stablecoins, bitcoin backed loans, interest bearing accounts on ethereum sleek crypto trading terminals.

The space just keeps on developing with huge headlines like El Salvador proposing that Bitcoin is legal tender. Is crypto accelerating?

Indeed crypto seems to be encroaching into everyone's territory, even seemingly unrelated industries like the big energy sector are finding novel ways to benefit from bitcoin mining through renewables and green energy.

But what’s the reason? Why now?


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New crypto toolkits = new financial services (age of DeFi)

For one, if you have the talent, the tech is out there and free to use meaning anyone can start a crypto project, similar to how anyone can start a website today.

That’s the entire point of blockchain based finance, more inclusiveness and affordability = potential for new ways to do finance.

The tool kits have enabled a whirlwind of experimentation that is happening thanks to the ease-of-use and reduced costs of these kits. Call it what you want, but you can’t argue with all the crypto toys and core infrastructure out there now. This alone is a compelling reason why many large corporations, tiny startups and even whole countries are figuring out how to do crypto in their own unique way.


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⚫ The age of DIY finance

New articles, video tutorials, classes and guides on the topic of ‘how to do crypto’ have been popping up online in all shapes and sizes. Bold questions like ‘how to create a coin’, ‘what’s a DEX’ and ‘how to start a bitcoin exchange’, are clocking in record search queries — a sign of where things are heading and the thirst for knowledge in this department.

Crypto exchange kits or crypto toolkits are becoming increasingly popular for various business applications as well as for developers that enjoy tinkering with a DIY project.

Nearly all of these questions just 2 years back wouldn’t have been asked. To answer these questions and meet the demand for tools, many DIY crypto tool kits have been developed to allow people to answer their own questions and to solve their own problems, and they allow for others to start their own crypto platforms and design their own business applications and that usually starts with their own coin.

‘Coin creation’ is now a process that can be done through an exchange system or software itself, cutting out the middleman and saving money and months of paperwork.

This is why we see a surge in Google searches for terms like ‘how to create a crypto coin’, ‘coin listing’, ‘create coin’ and ‘crypto business’. A sign of DIY finance.

Don’t believe it? Just look at the graph above which shows the search query trend for the last 5 years on Google for ‘crypto business’ skyrocketing.

People are realizing crypto, blockchain and coins can be integrated into business applications from crypto payments, rewards and simple currency and token exchange services which has caused a surge in entrepreneurs.

This is all thanks to recent technological breakthroughs made in open-source financial tools that are fluent in creating coins and having the coins connects back to the public blockchain protocols.


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The age of the coin

When you thought physical coins were just about to be phased out you now have coins in crypto form taking off instead, but why have they made a comeback? Simply put they are sharable, and it goes back to the original reason physical coins were so popular, they were just easy to share. But crypto coins just happen to take it to a new level all together as they are magically transportable through the blockchain.

In general crypto coins and their blockchains are great coordinating and measuring tools for both small groups and larger communities.

A coin can be the embodiment of a product, organization, community and can act as a means of exchange for various utilities and generally a useful bonding agent for multiple parties to work together. It is also possible to use coins as a measuring tool for voting and governance rights.

Once you mix a coin and exchange system that is where things start to get interesting because real-time pricing can develop, coin distribution and marketing communication can happen all in one place for that coin to take a life of its own.

Coins and exchanges, when combined, become highly effective at replacing the old expensive processes which typically involve months of paperwork, lawyer fees and instead that gets all outsourced to the Ethereum ERC-20 or TRC-20 blockchain protocol which are all automated within your exchange white-label software that you use.

So what are some of the tools that make doing crypto easy? These days the white-label exchange software tools are the single best all-round crypto tool available today.

When utilized correctly white-label tools can help you break into the crypto space. But selecting a white-label solution can be a problem because there are so many solutions all competing for your attention on an ever wider range of services that are often too complicated to self-assess.

One big issue with white-label crypto exchanges is that they can be over-engineered and difficult to use, and literally will cost millions of dollars just to obtain a license. In this article we will cover only the usable and best crypto white-label tools out there in 2021 that you can actually test today.

These solutions will be the most efficient and cost effective long-term solutions so that you don’t need to waste valuable time on endless calls to the software provider and in the end only guessing.

But first, let's first start with what you should expect from your crypto white-label solution.


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What’s in a good crypto white-label tool kit? 

All white-label solutions include a number of components but the first thing to test is the ability of your white-label exchange to be quickly deployed and ready to be accessed by you, your team and your users.

If you can’t deploy it yourself quickly then it is going to be hard to assess if it is the right solution for you. One way to get around this is to try researching on YouTube and try following any step-by-step guide out there. If you can launch an exchange live, open the sign ups yourself, then that's the biggest thing out of the way.

Coin creator
Other important value added features is the coin creation services and extra feature development. Typically, these items fall under the ‘nice to have features’ which are paid for separately, but generally your crypto tool kit should have 90% of everything you need built right in, including a coin creation system as it will save a lot of hassle.

More about coins, tokens and why they are important later in this article guide.

Customizations
Not every exchange software kit will be easy to customize but any good white-label solution should provide some of these features as an inbuilt service, albeit you’ll likely have to deal with these ‘extras’ as a nice to have but not necessarily a needed feature (think derivatives trading and other advanced order types).

Fiat or payment system (local/national currency deposit)
Attaching a payment processing system is also a commonly requested feature of a white-label solution but not many are aware this is beyond the technology and is more the job and responsibility of the exchange owner or exchange operator to get setup.

Connections and business clout go a long way here, meaning establishing a banking relationship and/or getting set up with an already established fintech company locally that is willing to provide the fiat component ready so that you can plug it into your crypto exchange through their APIs.

However, some white-label exchange software kits do make adding a banking system easier through a plugins system, but the bottom line is that attaching a fiat payment processing system is beyond the scope of an exchange kit and will require outside business development.

Get your coin listed
Many businesses that use these blockchain white-label solution services are looking to expedite their coin or token offerings and/or want to bypass expensive external coin listing fees on third-party exchanges and this happens to be where white-label crypto kits shine.

By operating the exchange itself it is possible to avoid the big 4 crypto exchanges being Binance, Coinbase, Kraken and Huobi, all of which charge exorbitant listing fees rendering it infeasible for newer smaller outfits to even experiment with cryptocurrencies and blockchain technology.

More about listing coins, new markets and why it is important later in this article guide.

Low-cost and easy-to-deploy
The bottom line is your white-label solution should allow you and your team to experiment with new ideas and do customizations in a low-cost but secure way while being able to quickly deliver live updates whenever your users and the market demands it. This could be new coins, blockchains and or even an internal rewards system to make your platform stand out.

If you can self-deploy and test it in a low cost way then the exchange solution will likely pay off long term.


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⚫ Coin or token setup

As mentioned, tokenization is a very important feature of an exchange system. Tokens or coins are still a relatively new phenomenon but savvy businesses are realizing it is just an extension of the frequent flyer miles points system that airlines leveraged back in the 1980s. Tokens, points or coins increase customer retention by rewarding them for their loyalty.

Tokens are great at aligning true customers or users and they can work within a business ecosystem, organization and even in non-monetary based online communities for voting. 

The rule of thumb is, if there are large groups of people, a token or coin could exist and that an architected economy or tokenomic system with self-sustainability in mind would go a long way for keeping these groups of communities together.

This token or coin can be used as a natural extension of an already strong brand and is an effective means to cultivate deeper internal economies that creates a positive feedback back loop onto itself. Operating an exchange makes designing a new economy or tokenomics exponentially easier due to the many controls at your disposal.

Evidence of this can be seen today with big brands experimenting with their own token or digital asset’s. For example, ATARI, the inventor of PONG, NFTed various ATARI memorabilia and is offering an ATARI coin that will be used in various ways as the tech builds out in the future.

Even celebrities with their online following are in a prime position to offer digital tokens. We’ve seen sports stars tokenize themselves for example. Having your own token is like living your handprint on the Hollywood boulevard: once a token is created it will remain active even if the person or company is no longer around.

And so when it comes to your white-label exchange service, it should provide a coin or token creation system as part of the system setup.

Below are some of the most popular crypto tool kits that include the important features mentioned above.


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⚫ What are the most popular white-label crypto exchange tool kits? 

  1. HollaEx Kit — Your Go to Crypto Toolkit

Everyone likes to try before they buy, that’s the strength of the HollaEx Kit. This crypto kit is the ultimate open-source white-label exchange solution that requires very little coding knowledge, if at all. Just add your coins and go live.

The kit can be accessed through an easy-to-use exchange dashboard or downloaded ready-made exchange on GitHub.

If you’ve ever used a web builder like WordPress or even Squarespace you will know how easy launching a template website is, which is exactly what the HollaEx Kit does but does it for a crypto trading template website. It provides a crypto exchange that can be customized with brand, coins and all.

Unique part of the HollaEx Kit is the straight forward exchange setup, an easy 5-step process, when completed, will take you to your own crypto exchange management dashboard, where you’d then either take the time to host the exchange yourself or opt into a cloud subscription to speed up the process.

Above screenshot showing a cloud exchange going live. Gone are the days where you’d have to manage multiple blockchains and navigate complicated systems through a CLI. There’s now an app for that, simplifying the crypto exchange set up.

It is all inbuilt, the hosting, bitcoin, various blockchains, coin creation, market setup and even the liquidity is included for large volume markets like BTC/USDT.

The HollaEx Kit is an all-encompassing, self-service, DIY crypto solution.

Note, those that want all the bells and whistles for their platform like margin trading or something identical to Coinbase may not get what they want in this exchange kit

But for those looking for something that can be rapidly deployed, self-tested, shared with the team and customized on the fly, well then this kit is it.

 

  1. When complexity is your thing: Openware

Openware offers a whole suite of services related to cryptocurrencies from NFTs to market making, including your regular old spot exchange system. By going to GitHub you can find the open-source solution readily available for those that know how to compile and deploy the exchange via their CLI.

If you know your way around kubernetes and a command-line then OpenWare provides those extra fine-tune features that may come in handy.

The system being open-source is always a good early way of knowing if the software has been battle-tested because as it's been in the public domain it has seen a lot of action in the wild.

Openware also covers decentralized software development models and has been a long time battler in the crypto space and the team pioneered some of the earlier open-source exchange solutions.

The deployment time, if you have CLI know-how, can be quick. The deployment can be studied on YouTube simply by searching ‘Openware’.

 

  1. 0x the Ethereum only exchange

As a majority of new coins are created using the Ethereum blockchain these days, it may make sense to go with an Ethereum only compatible exchange.

The obvious drawback using the 0x exchange system is that extra work will be required to include non-Ethereum coins. This means no popular coins like Bitcoin, no XRP, no Cardano and even no beloved Dogecoin. Note, it is not impossible, but definitely a lot of extra work to include these other coins and may involve mixing third-party apps.

On the flip side, the advantage of using a white-label platform like 0x is that you can minimize some of the complications around managing multiple blockchains and can be a streamline way to experiment, especially if you are a developer already familiar with Ethereum. In theory this is the ultimate free solution if you don’t count the blockchain fees you and your users will have to deal with on every trade.

When using 0x it is important to understand it is a DEX system, meaning coins are not custodied on the platform itself and instead trades or swaps are executed from the convenience of each user's personal wallet through a smart contract.

This means blockchain paying blockchain fees for each swap and trade is part of the way things are done on this kind of DEX system. If you don’t know anything about this or DeFi systems, then to summarize this is a totally different system from your regular financial platform, and deeper research might be prudent before committing to a system like this, especially if you're considering operating a business with 0x.

As a rule of thumb, if your users are the type that are extremely crypto savvy then 0x’s DEX system might work.

Note, integrating the technology into a hybrid exchange model (both a centralized and decentralized exchange) just might be that value added service you are looking for and is a convenient way to test the waters before making any commitment either way.

Nevertheless, 0x is a great white-label DEX resource on the cutting edge of DeFi.


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⚫ Last word on white-label exchange software

Everyone's journey into crypto is different, some are doing crypto out of necessity while some are trying to find a way to bank their unbanked, there will be a growing demand for more user-friendly crypto tools and white-label solutions that make ‘doing crypto’ easy.

But one sure thing you must do is to test the solutions hands on, actually deploy the exchange, getting it live. As once you have the system live you will see the strengths and weaknesses more clearly, informing you if the exchange is fit for your target audience and user base.

With a system like 0x, you are likely trying to target a niche market that could grow and learn to use DEXs, while Openware with extra effort can provide advanced features that your users demand.

Or you might need a fast launching flexible exchange kit like HollaEx Kit allows you to do crypto hassle free, whatever your crypto project might be.

Whatever your choice, it’s always good to do your own research into open-source tools and ask if you can try before commiting anything to your white-label provider.

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Comments: (1)

Adriana P
Adriana P - Xray Trade - London 09 July, 2021, 18:511 like 1 like

Thank you for that article, it is very useful I even quote it on my article! 

Simon Dimoni

Simon Dimoni

Remittance and Crypto Payments

HollaPay

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