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With a white label crypto solution businesses can now break into the industry without heavy-lifting and resource constraints. Instead of worrying about integrating multi-currency wallets or ensuring regulatory compliance, they can build a crypto exchange that matches their user needs and stands out in the crowded market.
Saving months or even years of development to build user-centric features and liquidity pools, white label offers a customizable and quick to launch solution.
Cut the production time and go live in weeks. Save the crucial resources and opt for flexibility that allows you to hit the ground running.
But before we get technical, let’s understand what makes a crypto exchange platform truly stand out in this competitive market.
Build A Crypto Exchange Platform With The Advanced Product Differentiation Method
In simple terms, product differentiation is when a company’s products and services features distinguish it from the competitors in the market. It’s what sets it apart by solving specific pain points of your customers in ways that your competitors don’t – creating a competitive advantage for you.
For an exchange platform, product differentiation can include pricing strategy, premium feature offerings, targeting a specific market, or a combination of two or more of these strategies.
So crypto companies can create tailored platforms aimed at niche audiences such as institutional investors or retail users. Additionally, offering currencies and payment methods preferred by customers can increase user retention, leading to fewer drop offs.
Why Bother With Product Differentiation If You Know What To Build Already?
If you want to avoid being just another exchange platform in the crowd, you need to figure out how your product solves a major problem for your end users in a way your competitors haven’t.
That’ll determine why customers should opt for you.
With the crypto market saturated with products that offer similar solutions, cutting through the noise to attract target users requires a lot of effort, research, and iteration. Often the answer lies in a simple price, messaging, or positioning change.
Second, since the modern user is overwhelmed by choice, unless your product addresses a niche concern, it’s safe to say they will move on to the next best thing. Thus, you must prioritize building customer loyalty.
For some exchange platforms, this can include offering end users crypto debit cards that allow seamless payment at terminals without any pre funding. This way, the users are able to complete their transactions from a single platform without dropping off.
Once you’ve figured out your competitive edge, the standout feature that sets you apart from the crowd, you can charge premium pricing your audience will be willing to pay – driving higher profit margins.
The crypto industry is evolving with rapid speed and with that the demand for newer features is taking over. A differentiated platform that includes staking, DeFi, or tokenized assets has an upper hand with the fast-paced industry.
Possible Challenges And One Fool Proof Solution – White Label Crypto Platform Providers
While creating a solid platform that solves user problems efficiently sounds straightforward, the downside is businesses can often find themselves struggling with analysis paralysis. Dealing with too many variables and researching solutions makes it difficult to take action.
Delayed decision making means delayed product development and launch. As a constantly evolving industry, this delay can end up being a costly price to pay – in terms of development and missed opportunities.
Opting to partner with a white label crypto solution provider simplifies the process as it takes away the headaches of managing multiple partnerships, licensing, and overheads.
A crypto exchange software platform that cuts down go-to-market time to as little as six weeks without requiring any license or external partnerships. Businesses can customize and build a crypto exchange product based on user preferences.
With white label, businesses can experiment with scalable and cost effective solutions and features as they grow.
More importantly, partnering with a white label crypto solutions provider means businesses can take advantage of pre-existing partnerships with liquidity providers, virtual IBAN providers, and card issuers – without requiring any licensing and within the same platform. On top of that, the integrated KYC and AML helps enter regulated markets and onboard end users easier.
Striga’s crypto exchange software is ideal for small to medium sized fintechs looking to launch their exchange platform. With simple APIs and in-house compliance, crypto solutions are now much more accessible and affordable.
Striga Crypto-native Banking as a Service:
Your path to building and launching financial products
Join the financial businesses that use Striga’s cloud platform to delight their customers and launch their own products without the complexities that come when dealing with core banking solutions’ relationships, licensing, compliance and payments methods.
