Crypto has gone mainstream. Over 50 million Americans plan to buy crypto next year and 63% are crypto curious. If your grandma has expressed an interest in getting hold of some “magic internet money” (to use the term first bandied about by early backers of bitcoin) then she isn’t the only one.
Despite these collective grandmas stalling the take-off of 2021s bull run for fear of the froth it was creating, the appetite for crypto is still at unprecedented levels. Business is increasingly opening its eyes to the possibility of blockchain, and Bitcoin, for all the recent price punishment, is still well over three times the price it was last year – and the recent entry into the market by payment processors like Visa and Mastercard and banks like JP Morgan indicates that, in truth, it’s all only just beginning.
The Importance Of An Exchange
For the majority of people, an exchange is the best way to get hold of the cryptocurrency they want to invest in. For the uninitiated, an exchange is a place where trades can be made between various crypto and fiat currencies for nominal or even no fees.
This works as, in truth, its users are buying IOUs for the currencies they trade for. These IOUs can then be withdrawn at a later date, usually for a more substantial fee, when they want to take full ownership of their crypto by moving it to a wallet. For many people though, this never happens, and their assets are kept on the exchange long-term to either quickly turn their assets into fiat profit or swap it for other cryptos. Alternatively, many have faith that the exchange operator they use to manage their crypto has the liquidity and security to mean their holdings are safe.
This creates a brilliant opportunity for businesses to capture their share of the burgeoning retail market. Having their own exchange not only allows businesses to list the tokens they want but more importantly launch their own token on the market and pair it with other popular tokens.
By using a HollaEx Kit, businesses can convert some of their native customer bases by exposing them to novel crypto-buying opportunities or offering boutique and specifically tailored crypto-buying experiences to those savvy about the market through their pre-existing sales channels. It’s a powerful way to get your token into the hands of your followers while simultaneously offering traditional exchange possibilities.
The Difficulty Of Setting Up An Exchange
Yet setting up an exchange is a tricky affair that is replete with a raft of tough technical challenges. Setting up custom software, getting a suitable payment processor on board, establishing enough liquidity, navigating regulatory hurdles with KYC requirements, and ensuring top-notch security are not easy accomplishments. Add to this actually creating a user interface that is decipherable by the average user, not to mention pleasurable to use, as well as having robust support mechanisms in place should your users have problems.
It’s no wonder that creating a successful exchange is not an endeavor for the faint-hearted. For the average business, even one drenched in crypto knowledge, it’s simply too Herculean of an undertaking to contemplate. This is unfortunate for some, as setting up a viable and high-quality crypto exchange would allow many businesses to make rapid gains and exploit the transition of crypto into the wider business and public consciousness.
Businesses wanting to capture the magic of having their own token listed alongside BTC, ETH and USDT find this too great an obstacle to overcome, despite having the knowledge to launch a token in every other respect.
Buying An Exchange Off The Shelf
This is where bitHolla comes in. A white-label crypto exchange, bitHolla has done much of the hard work already. It allows businesses and individuals who want to set up a crypto exchange through their own website or platform an easy way to do so with minimal fuss.
Moreover, it allows those businesses to create their own tokens and put them out for tender on the market against popular currencies like USDT, BTC, ETH, and more by using their coin/pair creator – as well as hosting their own sales on assets to draw users to their exchange or onboard crypto novices into the fold. By providing a custodial crypto wallet with the package, it allows easy deposit and withdrawal onto the exchange you’ve set up without requiring them to leave your service.
Overcoming Start-Up Obstacles
When it comes to selling their own token, start-ups can be swatted with crippling exchange fees that can exceed $1,000,000, not to mention simply being denied listing altogether. A HollaEx Kit allows businesses to power up their own exchange and lists their own tokens with none of the hassles that comes with it. By avoiding up to 95% of start-up costs, nascent crypto businesses can get their token live and the traction they need to be listed on price-aggregate sites like CoinMarketCap easily.
Experienced traders will be smitten with the professional trading services that are offered by XRayTrade which allow them to operate multi-platform while using their own exchange. Furthermore, bitHolla’s offering is the only white-label exchange offering that includes liquidity provision, with the automated system fetching orders for you and not requiring you to provide the liquidity reserves yourself.
The XHT Token And Cloud Services
All of this is powered through the XHT token. Constantly upgraded, it stops any exchange suffering the tech rot most white-label exchanges are prone to. By buying and staking XHT, exchanges can access the software and the network available from bitHolla. By plugging into the wider network of HollaEx exchanges, businesses can take advantage of the liquidity contained within it and offer more pairings that they may not otherwise be able to. By using XHT further custom coin additions can be unlocked, including the ability to add other custom ERC-20 coins, allowing companies to broaden their pitch to customers.
To further reduce the seamlessness and scalability of implementing your own exchange, bitHolla offers a robust cloud computing service. By offloading the server requirements from your business and allowing your exchange to run on bitHolla’s cloud service – offered even on the basic package – another sometimes fatal obstacle is avoided, as no temporary server glitch ends up breaking the faith of all your customers in one fell swoop.
The Three bitHolla Packages
There are three packages. The Basic, for $208 a month (and 44% off for the yearly plan), gives access to the cloud and a free domain, with a host of inbuilt customization tools so your exchange looks how you want it to look. For those looking to dip their toes in the water, it’s the most secure and feature-rich white-label exchange on the market.
Things get better with the Crypto Pro package, which costs $800 a month (and 45% off for the yearly plan). This allows the creation of a custom coin and pairing to add to your exchange – a core purpose for many setting up their exchanges. It also provides the opportunity for custom plugins, including bitHolla’s own, a custom domain, a full management system to oversee your exchange, and the ability to download exchange logs. It also helps with outreach by the provision of a crypto chatbox and landing page for your customers, and referral affiliate links.
Finally, bitHolla is also willing to take the final step with you with its Fiat Master plan. If you want to start accepting deposits in traditional currencies from your customers, bitHolla will support you if you wish to add fiat assets and connect to a payment processor. There is also a set of tools available to assist in the setting up of KYC requirements and the regulatory hurdles that entails. This service is by application only, which can be done through the bitHolla website.
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