The cryptocurrency exchange is one of the booming businesses in the crypto space. It is the right choice for startups who want to start crypto-related businesses. Most startups would want to estimate the cost to start a crypto exchange beforehand. I have analyzed the market and gathered some information for you in that regard.
- Developing cost
- Launching cost
- Promotion cost
These are the basic expenses that come along. Launching and promotion costs are basic for every business. Startups will be required to spend on those one way or the other. Apart from launching and promoting, developing a crypto exchange cost would be relatively higher. Upon some research, it came as a surprise that startups spent 70% of their investment on just developing a crypto exchange. Most of them are unaware that they could minimize the development cost by choosing an alternative developing method. In fact, the development cost varies depending on the developing methodologies.
Crypto exchange from Scratch - This method is defined as developing a crypto exchange from the base. Startups should need to analyze every feature and implement them one by one. It would take a lot of time to develop and the development cost would be 3x of your estimation. The approximate developing cost would be around $60k.
Crypto exchange scripts - It is a ready-made script software for existing crypto exchanges like Binance, Coinbase, etc. It has all the features of its parent crypto exchange. For example, Binance is one of the well-known crypto exchanges in the world. Binance clone scripts come with all the existing features along with complete replication of Binance. Startups could launch a crypto exchange like Binance within 5 days. The developing cost would be significantly less compared to your estimation. The approximate cost is $7k.
Now I hope this would have brought a certain degree of clarity about both methods. The most intriguing question that concerns every single startup would be “How much time and cost would be required for developing a crypto exchange?”
Many of the startups are not aware that crypto exchange scripts exist and they are more efficient than scratch. The Crypto exchange script will minimize the development cost by a long margin. Startups can immediately start their own crypto exchange business by using a bug-free Crypto Exchange Script.
