A Review On Cryptocurrency Exchange Software

Pretty much anyone that can work from home is going to be sitting pretty for the next decade to come. Considering this, and as we move to real "internet money" with the advent of cryptocurrencies and blockchain there are new opportunities on the rise.

One such opportunity is crypto businesses, particularly exchanges, they are still for the long foreseeable future the best type of crypto business. The reason for this is they are in a rapidly growing market because people today, more than ever, are seeking new ways to make money from home. One such way is to turn into a part-time crypto trader. This is great for crypto exchanges because just like a traditional money exchanger, they offer a lot of value to the local areas they are based as they provide a means for people to earn a little money.

Crypto exchanges are the beckoning call of many startups wondering what to create, and although many startup ideas have been tried like crypto Visa card payments, crypto remittance, crypto ATMs, crypto anything but lo and beyond none of these fancy ideas can beat the crypto exchange because the exchange is the base technology with the wallets, prices, trade, userbase and everything needed to build any crypto business.

But if you want to start today you will be flush with choice, with all the crypto exchange software solutions to pick from it can be confusing. If you are a newcomer to this industry, it will be almost impossible to decipher which exchange software will best suit you. Not only that, the software can be difficult to test and costly timewise with long drawn out processes just to use a demo. It really can be a slow painful process.

Considering this, we’ve created this short article to narrow it down to the 3 best with very different strengths and weaknesses. We will waste no-time and just cover only the essential pros and cons of each to help you reach the exchange right for you.

AlphaPoint

First up is AlphaPoint, they were the first major company to push exchanges. The major advantage of using AlphaPoint is its refined solution. You know you are getting a service that is top-notch. They offer a range of services from the typical spot exchange to the fancy asset digitization services, whatever you are looking for they have it covered. If money is no object and the business wants the security of a major name, then AlphaPoint is your pick.

If you want to test out the software you must contact them, arrange a call and dedicate some time to playing by their rules which can make doing your own research slow because the content is hidden behind many layers of processes. AlphaPoints model offers a variety of "pay-as-you-go models", but no matter how you slice it all models will take a hefty cut from all your profits.

This can drain the budget over time, big time, which makes this solution un-user friendly for first-time exchange operators and is more suited for a large company with unlimited budgets and a large existing user base.

HollaEx

Next up is HollaEx an open-source DIY-style software kit, it is economical and allows for easy software testing, crypto liquidity access, pay-as-you-earn, low-fees, and quick start-up times. This is a perfect solution for a "pop-up shop" when you need an exchange fast without the fuss.

HollaEx is one of the first exchange franchise-type services that sports a public projects page allowing everyone to see what others have done. It does not have futures or some very advanced trading features but has the necessities covered. Because HollaEx is open-source it means help is just around the corner on the exchange community forums with an accessible and active community of builders.

This is the crypto fans go-to solution, but may not fit large institutions, as the kit lacks detailed auditing, policy creation, and other large team management systems but the exchange kit is open enough for teams to build these features upon their exchange themselves.

If you want to do a crypto-only exchange this solution is perfect right out of the box as it provides the major crypto markets such as BTC/USDT already. If you need a fiat on-ramp system you are expected to source that yourself but once found can easily be connected to your exchange. Best of all, this solution is pretty much free, as you only pay when you start earning or if you need extra services such as custom code.

Coinfield

This solution brings a little of both worlds, catering towards larger budgets while still having some accessibility to smaller teams on a limited budget. Coinfield is similar to HollaEx in the sense that you can use their brand and open an exchange franchise using their name or you can use their white-label exchange and rebrand it.

That said, Coinfield is also similar to Alpha Point in that it is very time-consuming and difficult to test, if you want to use the solution you are going to have to contact the provider, book a controlled demo and fill out their forms. In this respect, HollaEx is maybe a better solution, since it’s open-source and the free model allows you to get started immediately.

One advantage, if you’ve checked all of Coinfields boxes, they may lend access to their fiat system on-ramps which is an added bonus. Keep in mind this extra service is highly dependent on them and is one of those areas that can be deceptively difficult to obtain.

Final thoughts

Depending on your needs, the decision really comes down to your budget and timeframe. When going with AlphaPoint, for example, you probably have a large team with capital to spend. If you require something to get your feet wet and is straightforward, then the HollaEx Kit and its 5-step exchange creation system is a no brainer. If you're looking for a more "in-between" solution, then Coinfield might be that option.

Keep in mind that all solutions do require at least some knowledge in crypto wallets and how the blockchain works so that you can better manage any issues that may arise with incoming and outgoing transactions for your exchange but, other than that, these cryptocurrency exchange software options will make doing a crypto business that much safer and easier.