The crypto market is creating numerous opportunities for business people and entrepreneurs who are looking forward to starting their own businesses in the crypto industry. Even though more businesses are revolving around cryptocurrencies, the cryptocurrency exchange business has been the easy one for many to start. Many are first entering into the crypto exchange business, earning more income from it, and building a community for them later on, they are exploring the different businesses in crypto. This has become an easy starting point for people who wish to succeed in the crypto market. Keeping aside the facts about starting a crypto exchange business, it's also equally important to know about the expense or cost to start a crypto exchange business.
Usually, creating a cryptocurrency exchange platform on your own right from the scratch will cost you around 100k USD to 130k USD. An easier alternative that costs only 10% of the scratch amount is using the crypto exchange clone script, which requires around 8k to 12k USD. Now, what causes this huge difference between these two methods let us get into the detailing of it.
Reasons for Scratch Costing Around 1 Lakh USD
There are different reasons why creating a crypto exchange from scratch demands this immense amount of investment. Let me list out some of the most consequential reasons,
Creating a cryptocurrency exchange platform is not at all an easy task as it requires resources like skilled developers who are experienced in programming that are involved in the development of the exchange. Moreover, blockchain is a major concern in development which eventually leads to the requirement of blockchain experts. Not only this, you would require a team of designers as well as testers to complete your crypto exchange platform. Hiring these many resources would obviously cost you a lot of money, and this eventually increases the cost.
- Feature Integration
In recent years a lot of crypto exchange platforms have emerged in the market, and to compete in this market, you need to build a crypto exchange that has various advanced features to attract your users. Not only for the advanced features, but the integration of each and every feature in your crypto exchange also requires more work behind it, and every feature integration will cost you some amount of money, and adding all these would be a lot of investment, adding to the development cost.
Other disadvantages of the scratch method
Apart from the huge investment that is required for creating the crypto exchange platform, there are also other factors that lag in this method, and those are,
- The process of developing your crypto exchange platform takes more time than we think it takes about a year or more than a year to complete the development of the crypto exchange platform.
- It cannot be easily modified as per your preferences once the development is completed if you wish to do some modifications to it, then it would require a lot more work and cost.
- Security option integration is one of the challenging tasks in the development of the crypto exchange.
We’ve seen the difficulties in the development of the crypto exchange platforms from the scratch. Now let us see how a crypto exchange clone script helps in overcoming these challenges.
How Does The Crypto Exchange Clone Script be Cost-efficient?
The cryptocurrency exchange clone script is a pre-built software inbuilt with all the mandatory features that are required for a crypto exchange platform. These clone scripts are made by a well-trained team of developers and blockchain experts, which ensures a bug-free product. You won’t require to pay an extra amount for the integration of basic features, and a few charges are applicable for advanced features, and that too won’t cost much. Since it is ready-made software, it costs only around $6k to $12k, which is 10 times lesser than the scratch method. Apart from the fact that it is cost-efficient, the crypto exchange clone script has many other benefits.
Perks of Using Crypto Exchange Clone Scripts
- Customization: The crypto exchange clone script is end-to-end modifiable based on the business requirements.
- Less Time: Since it is a pre-made one, deployment of the clone script takes very less time. Within 10 days, you can launch your crypto exchange platform.
- Support: After the deployment of the exchange, if any issue arises, you will have support from the providers.
- Bug-free: The crypto exchange clone script is tested priorly in both local and in the main net, so it would be completely bug-free.
- Features: The crypto exchange clone script has all the basic features that are required.
CoinsQueens Offers Budget-friendly Crypto Exchange Clone Scripts
In CoinsQueens, we deliver feature-rich crypto exchange clone scripts at a much more reasonable price compared to other providers in the market. We customize the crypto exchange clone scripts based on the business needs of our clients, and our clone scripts vary from around 5k USD to 10k USD, which is less than 10% of the cost when we create them from the scratch. We develop the clone scripts with an experienced team of blockchain experts, developers, designers, and testing engineers. If you are aiming to kick-start your crypto exchange business with minimal investment, you can get your free demo from us instantly and initiate your crypto exchange business quickly.
Get started with your cryptocurrency exchange script here