How to start your own cryptocurrency applications?- stay tuned


How Cryptocurrency is Created?

  • Cryptocurrency is software. Every function, from how transactions are recorded to how data is stored, is dictated by code.
  • Especially for cryptocurrencies whose main function is to act as money, cryptocurrency transactions are typically stored in a type of database known as a blockchain (other cryptos use unique technology, but the gist is the same).
  • What we think of as cryptocurrency, for example 1 Bitcoin, is just numbers recorded on a cryptocurrency’s blockchain. Another word for that stand-in for value is “token” (often also called a “coin”).
  • Cryptocurrencies are created by algorithms that rely on cryptography. That is why it is called “crypto” currency. Every transaction relates back to unique cryptographic codes that secure the network.
  • Cryptocurrency software is decentralized and distributed, meaning it is hosted on many peoples’ computers across the world instead of just on one server by one company.
  • The algorithms generally are written to award coins to computers that add transactions to the blockchain. The process of adding transactions to the blockchain is known as mining.
  • The code of the cryptocurrency defines things like maximum supply, mining rewards, etc. Thus, for most cryptocurrencies, the main way new coins are created is by people all over the world running hardware that adds transactions to the blockchain. Otherwise, cryptocurrency tokens are created by other mechanisms contained in a cryptocurrency’s software.

What is cryptocurrency exchange software?

  • Cryptocurrency exchange software is a software solution for buying and selling of digital assets such as cryptocurrencies, security tokens, and other assets. Such systems have market liquidity and are equipped with a set of tools aiming to make the exchange process convenient.

What is a white-label crypto exchange platform?

  • White label crypto exchange solutions - are ready-made software that is designed, developed, tested and already available for deployment. With this software, one just needs to make the preferred customizations and can get started with his own digital asset exchange business. Such platforms are secure, fast in deployment and cost-effective in comparison with built from scratch ones.

What are the advantages of your exchange software platform?

  • The main benefits of Velmie white-label crypto exchange platform are the following: A modular, highly scalable system; Flexible customizability; Cost-effective and quick in the deployment; Low platform maintenance costs;

How to build a cryptocurrency exchange?

  • Starting your own cryptocurrency exchange business is a quite sophisticated process since it requires deep technical expertise in terms of solution architecture, standards compliance, industry demands foreseeing, and so on. Also, it may require considerable time and money investments. According to our research, developing a crypto exchange from scratch may take more than 9 months with the cost to build not less than $300,000. Not even speaking about additional expenses related to cost to own, further solution adjustments and scaling. Velmie, as a financial organizations’ partner, found a way to address these challenges by proposing its White Label Software - a ready-made cost-effective solution, flexibly customizable according to customer needs.

Cryptocurrency Exchange Business

  • Set up an account with a reputable cryptocurrency exchange.

  • Collect the documents needed to verify your identity for Know Your Customer (KYC) exchanges.

  • Get a cryptocurrency wallet.

  • Set up your wallet.

  • Make sure you have a fast, reliable internet connection.