Blockchain and financial software are pretty intricate, and you need to decide how you want to tackle the initial development. The average cost of developing a crypto exchange may vary from $5k to $50k on average. The cost differs due to the technical infrastructure your software developer is using, where they are, how many developers are needed to complete the project and most importantly how fast they can launch.
In-house development
If you want to develop your software in-house, you should have some technical and programming knowledge and experience. You should also assemble a team of highly skilled engineers and developers who have experience with financial transactions and/or blockchain application development. Better to get the cryptocurrency exchange script and get started.
Open source and white label solutions
However, if you do not have a technical background and want to get your exchange off the ground as quickly and safely as possible, you may want to consider white labels and open-source solutions.
Having some technical experience, but you do not want to go through the hassle of building your exchange from scratch, where you can find code that will help you get to where you want to go that’s already been written by another developer. If you choose to go this route, you may wish to audit the software and code to ensure no malicious data may steal money or user information.These exchanges have a third party that helps conduct transactions to make sure they go through as similar to a brokerage.
This might seem counterintuitive since one of the tenets of cryptocurrencies is that they are decentralized, they are not issued or regulated by a government or other central authority. But a centralized cryptocurrency exchange can make it easier to buy your intended crypto with regular currency.
The inherent risk in some centralized exchanges is that these exchanges, being held by a single entity, are more vulnerable to an attack.