Cryptocurrencies are currently trending, for instance, Bitcoin. Everyone who invests in cryptocurrencies, especially traders, uses cryptocurrency exchanges to tap into the market. And that’s the perfect opportunity for business-minded people. That is why most entrepreneurs are searching for a cryptocurrency exchange platform white label. However, is it better than the lottery white-label? Keep reading this article to find out more.
Pros of cryptocurrency exchange platform white label
- Quick deployment
We can all agree programming isn’t as easy as taking a stroll in the park. It takes days, sometimes months, to correctly code a fully functional cryptocurrency exchange that’s interactive and easy to use. And that’s just the back-end. The front end is on another level. Thankfully, with a cryptocurrency exchange platform white label, this process will take the shortest time possible. Therefore, the deployment will be complete within days or even weeks and not months.
- Lowers labor cost
Undoubtedly, purchasing a crypto exchange blueprint isn’t cheap. And in most cases, it might break your bank account. That’s because the tech team behind this white label spent long hours simplifying the crypto-building process for you to get it on a silver platter. On the flip side, you will have to get deep into your pockets to exploit this advantage.
And here’s the most exciting thing; purchasing a white label is way cheaper than labor costs without it. Yes, that’s right! Hiring a tech team that can maintain your exchange will likely cost you a lot in the long term. That is why most entrepreneurs will go for the white paper
- You don’t have to rebuild from scratch
As I said, programming your exchange from the ground up is time-consuming and frankly exhausting. With the perfect white label, you can launch your exchange within a short time, and it will ensure you can start enjoying your profits as soon as possible.
Cons of Cryptocurrency exchange platform white label
If you go for the white label, you will need substantial up-front capital to get your business up and running. More importantly, even though there’s some liberty when it comes to customization, it doesn’t go past a certain level. That means your platform is likely to resemble another, most likely a more popular and profitable one. Your customers will lose the uniqueness of your exchange if it looks like a replica of another platform.
The other thing is that you need to consider that the crypto market isn’t straightforward. Just like the forex white label solutions, you might not get the projected profits. That’s because the market is quite volatile, which could lead to potential losses in your customers and you as well.
As an exchange platform, you will often have to give incentives to your customers to maintain them after they’ve lost a considerable chunk of their investment. Additionally, in terms of the customers, they will also need huge capital even to enjoy the perks of the cryptocurrency market. And I’m sure that’s not what you want.
Which one is better: Crypto exchange or Lotto?
The Lotto industry is consistently profitable, especially to the owner of the business. What’s more, it’s easy for customers to get profits with low capital. The tickets are relatively cheap to buy, hence making it easy to secure clients worldwide. On the other hand, the cryptocurrency market is a bit complicated, even for the users.
It has a steep learning curve, and the profits are meager, even for the cryptocurrency exchange owner. Additionally, the owner of the platform will need a huge starting capital. Therefore, you should reconsider your decision and go with a lottery business. To be more specific, you should check out WhiteLotto for the best deals in the industry.