The Security and Exchanges Commission (SEC) greenlighting a Bitcoin spot ETF - or even a general crypto ETF - is, for many, the starting gun on the next bull run. News stories about this prospect have circulated for over a year, with many now believing that without it this bear market is here to stay and, conversely, with it - the ‘$15 trillion earthquake’ that occurs as a result will take anyone already invested in crypto to the moon. 

‍

Exciting stuff. But what is an ETF? Why is it such a big deal? And what is the current state of the ‘war’ between the institutional money and hedge funds seeking approval for them and the SEC, who have taken on the role of evil bogeyman in this whole drama?

‍

What is an ETF?

‍

ETF stands for an Exchange Traded Fund. This is a type of mutual fund, an instrument where investors pool money together to invest in a sector, index, or commodity, which management overseen by a financial institution. The difference is that an ETF can also be purchased or sold on a stock exchange, just like Apple or Tesla stocks can. 

‍

A Bitcoin ETF would thus be a custodial investment instrument (i.e, the hedge fund holds the crypto) which would be fungible with other stocks, or cash, and which can be traded on a major stock exchange - just like the SPDR S&P 500 ETF (which tracks the S&P 500 index). Right now, ETFs that deal with cryptocurrency can only hold futures contracts or stocks of companies with exposure to crypto, not the crypto itself - which is a pale imitation of what a true Bitcoin ETF could do.

‍

Benefits of a Crypto ETF

‍

The benefit? A Bitcoin ETF would represent the first crypto investment instrument which would not break the fiduciary responsibility of pension funds, banks, financial institutions, hedge funds - or any other major investment institution. They are far more agreeable to these institutions than even trusts like Grayscale’s, an investment vehicle that currently stands as the second-largest entity, following Satoshi’s personal wallet, in terms of holding the largest amount of Bitcoin.

‍

An ETF would be the first crypto instrument which would sit right alongside the world’s biggest mutual funds and ETFs, which represent the most important gateway to investment for individuals and hedge funds all over the world. 

‍

When your Mum or Dad invests in stocks, they don’t buy $TSLA on Robinhood, they buy into index funds and mutual funds. These are professionally managed portfolios that allow investors access to a hugely diverse portfolio of assets. The greenlighting of a Bitcoin ETF by the SEC would open up not just Mom ‘n’ Pop investors, but giant public institutions to hold Bitcoin and other crypto assets on their balance sheet. The potential effects on crypto’s market cap are geometric, or in other words the price movement wouldn't just be linear or proportional; it would be exponential — up into the right!

‍

SEC Losing Cases Paves Way for Bitcoin ETF

‍

So. When? Well,  apparently soon and, according to the SEC insider ‘inevitable’, even as recent applications by Blackrock (the world’s largest asset management firm) and others have been punted to October. The SEC keeps losing crypto cases. They lost to Grayscale, with the courts saying that the SEC ruled arbitrarily and failed to explain different treatment of similar products. They lost their case against XRP, with the judge saying that the XRP token is not a security. It’s currently involved in big legal battles with Binance and Coinbase - the two largest CEXs in the crypto market. If it loses those too, then crypto’s status as a legally entrenched financial project will continue to skyrocket, bringing more trusted actors to the table.

‍

Exchange. Trade. Fund. 

A Bitcoin ETF, or even an Ethereum ETF, will absolutely spark a flood of investment into crypto. At HollaEx, we create white label exchanges that let any business spin up their own branded exchange and deliver high-end crypto trading to their customers, with ready-made liquidity. When the $15 Trillion earthquake happens, give your firm the foundation it needs to profit with an open source, battle-tested, and customized HollaEx exchange.

Banxa, the leading on-and-off ramp solution for Web3, has announced a strategic partnership with HollaEx, the white label crypto exchange provider. This collaboration is set to revolutionize the provision of fiat-to-crypto on-and-off-ramping solutions, propelling the adoption of cryptocurrencies in markets in Asia-Pacific (APAC), Latin America (LATAM), Africa, North America, Europe and Globally via 135+ countries for with Visa/Mastercard.

‍

HollaEx's innovative white label crypto exchange solutions have earned acclaim for their user-centric design, catering to teams and business of all proficiency levels, from novice startups to experts. This partnership amplifies white label exchange HollaEx's mission to be an easy-to-use plugin for exchanges to enable fiat crypto on-off-ramping. The partnership showcases the shared dedication of both entities to addressing the increasing demand for a seamless and hassle-free digital asset trading experience.

‍

‍

Advantages of the Banxa and HollaEx Partnership

‍

Amplified Global Presence: Banxa's partnership with HollaEx will extend a broader spectrum of on-and-off ramp solutions expanding on a robust global coverage that includes PayID, POLi, ACH in the U.S., SEPA in Europe, and more. This enhancement aligns with HollaEx's commitment to catering to evolving diverse local markets within the online trading exchange eco-system.

‍

‍

Localization of Payments: Banxa's suite of localized payment solutions will empower HollaEx’s exchange operators to onboard more users globally, effectively fostering wider crypto adoption and driving conversion rates that can exceed those of credit card-only alternatives.

‍

Enhanced Conversions + Reduced Costs: Banxa's ability to facilitate access to local markets, fortified by licenses, registrations, and alternative payment methodologies, will contribute to improved conversion rates and cost efficiencies for users.

‍

For exchange operators utilizing the Fiat Ramp and DIY Boost features, the Banxa plugin is now within reach. To celebrate the launch of this collaboration, we're introducing a unique limited-time offer: a 15% discount when you upgrade, equating to savings of $15,000. To avail of this offer, reach out to us at sales@hollaex.com, mentioning this deal and we will connect you with the Banxa onboarding agent. Please ensure to complete the Banxa registration in full to obtain the discount. (Note, this deal requires a plan upgrade. Contact us for more details.)

‍

‍

About BANXA

Banxa is the leading infrastructure provider for enabling embedded crypto, empowering businesses to embed crypto seamlessly into their existing platforms, unlocking new opportunities in the rapidly evolving crypto economy.  Through an extensive and growing network of global and local payment solutions and regulatory licenses, Banxa helps businesses provide seamless integration of crypto and fiat for global audiences with lower fees and higher conversion rates. The Banxa team is building for a world where global commerce is run on digital assets, and as such has headquarters in the USA, Europe, and Asia-Pacific. 

‍

👉Learn more about Banxa.

‍

About HollaEx

HollaEx pioneers white label crypto exchange solutions, enabling businesses to establish their bespoke crypto exchange platforms. Renowned for its emphasis on user experience and design, HollaEx's solutions cater to a diverse array of traders, ranging from beginners to seasoned professionals. This collaboration with Banxa enhances the capacity to provide fiat-to-crypto on-and-off ramp solutions, thereby strengthening the foundation of cryptocurrency trading.

‍

Your exchange, your brand, your coins.

‍

👉 Learn more about HollaEx.

HollaEx v2.8 (Knob) — Improved backend for 1-2x faster trading speed!

‍

HollaEx v2.8 is here! Code named ‘Knob’, this update marks a significant milestone in our journey. We've introduced a suite of enhancements that strengthen our platform's core, enhancing speed and reliability. Let's dive into these improvements:

‍

We've made substantial upgrades to our server endpoints and backend testing. These enhancements are crucial in ensuring that our platform operates seamlessly and efficiently. By investing in these areas, we've achieved a remarkable 1-2x increase in speed, making your trading experience faster and more responsive. (Note: DIY self-hosted exchanges can further boost speeds by using Cloudflare)

‍

Our backend has undergone extensive updates, including the migration from Redis 6 to Redis 7.2 and an update from Postgres 10v (2018) to Postgres v14.9. These database upgrades not only keep our technology stack up-to-date but also contribute to the overall speed improvements of HollaEx v2.8.

‍

But that's not all. We've also introduced a portfolio management feature, known as Donut. Donut allows you to manage your assets with greater ease and efficiency, providing you with more control over your investments.

‍

‍

In addition to these technical improvements, we're committed to maintaining the highest quality standards. Our internal quality assurance team ensures that every aspect of the platform, from server endpoints to user interfaces, meets our stringent quality benchmarks.

‍

This massive under-the-hood change is just one part of what v2.8 brings to our community. We've introduced account deletion, empowering our customers to manage their users effectively. Alongside this, we've addressed numerous bugs and refined various aspects of the platform to provide a smoother experience.

‍

‍

Here's a quick overview of some key improvements:

‍

• Enhancements to OTC dynamic broker for more accurate price estimations.
• Support for a wider range of digital assets such as CRV, AGIX and 10+  more!
• Improved OTC hedging (learn more about hedging here).
• A significant 50% speed boost in the initial load time.
• Enhanced handling of large CSV table downloads, especially useful for admins managing user deposit, withdrawals, balances, and other data.
• More precise login device information.
• Various enhancements in coin configuration.
  ‍

‍

And there's more! We've revamped the Digital Assets Information page, providing comprehensive insights into tradable assets, their prices, and liquidity sources. These sources come in three types: Orderbook, Network Broker OTC, and Local Broker OTC. We're excited to introduce Network Broker OTC, offering broker deals provided by the HollaEx Network, alongside Local Brokers from the exchange itself and the shared order books among all exchanges within the HollaEx Network.

‍

‍

The Award Winning White-Label Exchange

With v2.8 now live, we're at the starting line of a new chapter in award winning HollaEx's journey. These technical improvements open the door to a world of possibilities, and we're committed to delivering the best white-label CEX in the Web3 space. Stay tuned for more exciting updates from us!

‍

‍

Wishing you continued success until our next update! ✨

‍

— HollaEx Team

‍

‍

‍

‍Start your own exchange business today on HollaEx dashboard.⚙️

‍

‍Want to understand the factors that influence the cost of a white-label crypto exchange?
👉 Read the Ultimate Guide to White Label Crypto Exchange Cost

What factors influence the cost of a white-label crypto exchange

‍

The cryptocurrency business sector has significantly embraced white-label crypto exchange software. It offers a ready-made solution for businesses to launch their exchange platforms quickly and cost-effectively. Let’s explore the factors influencing the cost of white-label crypto exchange software, helping businesses make informed decisions about their investment in these solutions.

‍

What is white-label crypto exchange software?

Businesses can establish cryptocurrency exchange platforms without requiring extensive technical knowledge using pre-built white-label crypto exchange software. It provides a customizable infrastructure, saving time and resources compared to building an exchange from scratch.

‍

The benefits of white-label solutions are twofold. First, they offer a faster time-to-market, enabling businesses to capitalize on the growing demand for cryptocurrency trading. Second, these solutions provide flexibility and customization options, allowing businesses to align the platform with their brand identity and enhance the user experience.

‍

White-label solutions also have robust security features, ensuring user trust and asset protection. With encryption protocols, two-factor authentication, and cold storage, businesses can create a secure environment for cryptocurrency transactions.

‍

‍

The software offers a turnkey solution for businesses entering the cryptocurrency market. It allows quick and cost-effective platform launch, customization options, and built-in security measures. By leveraging these benefits, businesses can establish a competitive edge and capitalize on the rising popularity of digital assets.

‍

Read more:
‍The Definitive Guide To White-Label Crypto Exchange Solutions 🔗

‍

How much does white-label crypto exchange software cost?

White-label crypto exchange software offers various pricing models for different business needs. The cost of such software depends on factors like the project's complexity, desired features, customization requirements, and security considerations. 

‍

Typical price ranges for white-label crypto exchange software can vary, ranging from more affordable options for basic functionality to higher costs for advanced features and extensive customization. Businesses should carefully evaluate their requirements and budget to make an informed decision.

‍

‍

Various software review platforms allow you to compare the costs and features of white-label crypto software in a side-by-side comparison, such as SlashDot and SourceForge. These review websites offer the fastest and easiest way to evaluate and compare costs against your specific exchange software needs.

‍

Read:
‍HollaEx reviews on G2 software 🔗

‍

The cost of white-label crypto exchange solutions

In general, you can expect an ongoing cost of 👉$2,000 to $10,000 paid monthly for a cloud exchange, which is often more cost-effective in the long term as the system is hosted by the software provider, optimizing the hosting of the exchange.

‍

Alternatively, you can purchase the software outright, typically costing over $100,000. The price depends on the features and the work required to make the exchange operational on your website's domain and server infrastructure. 

‍

For instance, integrations may be necessary if you require a custom crypto wallet, increasing the cost of the white-label services. The same applies to features like fiat currency on and off-ramping, which typically require custom integration to connect the ramp to your white-label exchange. Generally, a regular crypto-to-crypto exchange without a fiat connection, using the default exchange wallet provided with your white label, offers the most efficient and affordable option. However, adding a collection of custom tokens and digital assets will increase the cost of the white-label crypto exchange.

‍

‍

The cost variations among different white-label exchange software solutions depend largely on the required features and integrations and if your exchange is a cloud exchange. It is crucial to utilize software review websites to research available crypto white-label features and prices and to read all the reviews from other exchange operators about each software.

‍

Cloud Exchange Pricing:
‍HollaEx White Label Plans 🔗

‍

Exploring white-label cryptocurrency exchanges

Entrepreneurs and financial organizations increasingly turn to white-label cryptocurrency exchanges to establish their presence as the cryptocurrency market continues gaining momentum. Often a consulting company will recommend a white-label solution that offers a development solution because it enables quick entry into the trading exchange sector, providing benefits for aspiring crypto exchange businesses. 

‍

‍

White-label exchange software often offers an open-source option and a 👉freeware version of the exchange with limited features. This open exchange software enables businesses to evaluate its suitability for their needs by allowing them to freely explore and customize their white-label exchange software.

‍

‍

With white-label cryptocurrency exchanges, entrepreneurs can leverage ready-made platforms customized to their needs to launch their trading exchange and capitalize on the growing popularity of digital assets.

‍

Book demo:
‍See HollaEx In Action 🔗

‍

The importance of white-label crypto exchange software

White-label crypto exchange software plays a crucial role in the dynamic cryptocurrency market, offering a streamlined path for businesses to enter the exchange market quickly. These solutions enable entrepreneurs to bypass the complexities of building an exchange from scratch, saving valuable time and resources. 

‍

‍

By leveraging white-label software, businesses can expedite their market entry and start serving users sooner. The importance of white-label solutions extends to the users as well.These platforms offer accessibility and ease of use, making cryptocurrency trading more convenient and readily available to individuals worldwide.. 

‍

With user-friendly interfaces and intuitive functionalities, even those without in-depth knowledge of blockchain or cryptocurrencies can easily navigate and participate in trading activities.

‍

Read more:
‍How To Achieve Exchange Success In 10 Steps 🔗

‍

The key features of white-label crypto exchange software

White-label crypto exchange software empowers businesses to create robust, user-friendly platforms with comprehensive features and functionalities. These features typically include crypto-to-crypto exchanges, cryptocurrency wallets, marketplaces, an OTC crypto broker system, and sometimes a fiat currency ramp or a fiat payment provider.

‍

‍

The crypto-to-crypto exchange feature facilitates efficient and seamless transactions, allowing users to trade one type of cryptocurrency for another globally. It allows exchange operators to list their custom tokens or coins while enabling users to diversify their digital asset holdings and seize niche market opportunities.

‍

‍

White-label solutions offer secure cryptocurrency wallets that ensure the safekeeping of users' digital assets. These wallets incorporate advanced security measures such as encryption and multi-factor authentication to protect cryptocurrencies from unauthorized access and potential cyber threats.

‍

Moreover, white-label solutions include digital marketplaces where individuals can sell their digital assets to interested buyers. These marketplaces foster liquidity and enable users to exchange digital assets for other cryptocurrencies or traditional fiat currencies. Integration with fiat payment systems further enhances trade stimulation by facilitating the trading of fiat currencies with crypto digital assets.

‍

‍

White-label crypto exchange software's key features and functionalities significantly impact the trading experience and user satisfaction. By enabling seamless transactions, secure storage, and diverse trading options, these features enhance the efficiency and convenience of cryptocurrency trading. They contribute to a user-friendly ecosystem that fosters trust and drives user adoption in the rapidly evolving global cryptocurrency landscape.

‍

Read more:
‍HollaEx is Integrating Chainlink Price Feeds 🔗

‍

Factors influencing the development cost

When developing white-label crypto exchange software, the overall cost is influenced by several key factors that should be considered. 

1. Security considerations

Ensuring robust security measures is crucial. Investing in tried-and-true security solutions from reputable vendors is essential to protect the exchange and user assets. Neglecting security can expose the system to malware, hacking, and other online dangers, compromising user passwords and funds.

‍

Certain white-label services enable the integration of custom crypto wallets provided by third-party vendors and regulated crypto self-custody wallets. These options are particularly crucial for enterprises and large organizations requiring multi-party wallet access, making them a stringent requirement.

‍

Find out more:
‍HollaEx® Enterprise Exchange Self-Custody 🔗

2. Range of components

The desired features and components of the white-label solution directly impact the final cost. The more advanced and extensive the features, such as live chat, mobile apps, payment plugins, and custom token listing, the higher the development cost. Additional customization and settings to enhance the user experience may also increase the overall cost.

3. User interface customization

The complexity of customizing the user interface (UI) affects the development cost. A simple UI with basic settings will be more cost-effective than a highly customized, intricate UI design with much feedback and animations. The level of complexity and aesthetic modifications required will influence the development effort and, consequently, the cost.

‍

4. API integrations

Seamless functionality requires integrating other networks and systems through APIs. A reliable API that links the exchange with external services and databases adds value to the platform but can also impact the development cost. The complexity of integrating APIs and the resources required to ensure stability and security contribute to the overall cost.

‍

5. KYC and AML compliance

The crypto industry considers meeting Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations vital. Implementing features like user registration, real-time verifications, transaction monitoring, and compliance controls incurs additional development costs. Ensuring the exchange adheres to international regulatory requirements adds complexity to the development process.

‍

‍

Read more:
‍How To Start A Crypto Exchange? 🔗

‍

Licensing and legal considerations

Operating a crypto exchange involve significant licensing and legal considerations that vary across jurisdictions. Obtaining the necessary licenses ensures compliance with regulatory frameworks and helps build user trust. 

‍

It is crucial to stay informed about the regulatory landscape and adhere to compliance requirements for KYC, AML, data protection, and financial crime prevention.

1. Need for licenses 

Depending on the jurisdiction, establishing a crypto exchange requires obtaining appropriate licenses. Licenses ensure compliance with regulatory frameworks, enhance credibility, and build user trust. Understanding the specific licensing requirements and engaging legal expertise to navigate the process successfully is essential.

‍

Consider operating from a favorable and forward-thinking jurisdiction within the realm of blockchain-based financial services and exchange technology.

2. Regulatory landscape

The regulatory landscape for crypto exchanges varies across countries and regions. It's crucial to stay informed about the legal requirements, compliance obligations, and potential regulatory changes affecting crypto exchanges. Adhering to the applicable laws and regulations is vital to operate within a legally compliant framework.

‍

The regulatory landscape surrounding cryptocurrencies remains to be determined, particularly in the United States. While some regulatory frameworks exist, there is an ongoing debate and evolving guidance from U.S. regulators regarding the classification and oversight of cryptocurrencies. This ambiguity presents challenges and considerations for businesses operating in the crypto space, including white-label cryptocurrency exchanges. Entrepreneurs and development companies must stay informed about the latest regulatory developments and seek legal counsel to ensure compliance with applicable laws and regulations.

‍

While on the other hand, Hong Kong's Securities and Futures Commission (SFC) has announced that they will start accepting applications for crypto trading platform licenses from June 1. CZ, the CEO, and founder of Binance, is mega-bullish on this recent announcement.

‍

‍

Additionally, the recent announcement of Blackrock’s pending Spot Bitcoin ETF application has sent the crypto markets buzzing that a U.S. spot BTC ETF will be approved soon. And, with XRPs recent court case win against the SEC, crypto investors are finally starting to see some regulatory clarity. Industry experts expect that regulation clarity and the approval of a U.S. spot BTC ETF will signal a green light to institutional investors, opening the floodgates for institutions to invest.

3. Compliance requirements

Setting up a white-label crypto exchange requires compliance with KYC and AML regulations. Implementing identity verification procedures, transaction monitoring, and adherence to legal obligations for data protection and financial crime prevention are essential. 

‍

To operate a trustworthy exchange, developing a compliance framework aligned with regulatory requirements is necessary. Understanding the factors influencing the development cost and the licensing and legal considerations associated with white-label crypto exchange software is essential for businesses entering the cryptocurrency market. 

‍

Read more:
‍Crypto Creation: How Will Your New Token Be Priced? 🔗

‍

Can anyone create a cryptocurrency exchange?

Creating a cryptocurrency exchange requires a certain level of accessibility, but technical expertise and knowledge are essential. Businesses find it easier to enter the market with the help of white-label solutions, but developing a crypto exchange still demands a thorough understanding of blockchain technology and security considerations.

‍

Building a crypto exchange also involves building the back-end interface, also known as the back office or admin controls panel, which allows the operator(s) to manage the exchange. Suppose you create the exchange yourself or utilize a white label. In that case, testing out the administrator controls is essential, preferably getting hands-on testing with a trial or freeware version of your white label.

‍

Choosing between white-label solutions and building from scratch depends on factors such as time, resources, and the desired level of customization.

‍

Read more:
‍Tokenomics Asset Digitalization: Leaving The Paper-Based Economy Behind 🔗

‍

Case studies and success stories

Real-world examples highlight the benefits of utilizing white-label crypto exchange software for businesses. Case studies showcase successful implementations and the positive outcomes achieved. 

‍

For example, HollaEx, a prominent white-label solutions provider, has played a vital role in successfully launching hundreds of crypto exchanges across multiple countries. One notable example is KoinKoin, a UK-based exchange serving the UK and critical African regions. 

‍

Additionally, the Chivo wallet, which serves as the official Bitcoin and Dollar wallet of the Government of El Salvador, extensively utilized white-label software to introduce the world's first national crypto wallet. This innovative solution enables users to effortlessly conduct Bitcoin transactions and store their assets within the white-label app, similar to a traditional crypto bank.

‍

‍

These case studies demonstrate the tangible advantages of leveraging white-label solutions for crypto exchanges, empowering businesses, and nation-states, to establish their presence in the rapidly evolving digital asset marketplace.

‍

Security measures and data protection

Ensuring top-notch security is paramount in white-label crypto exchange software. Robust security protocols are implemented to safeguard user data and funds from cyber threats. Businesses must prioritize data protection by following industry best practices, including encryption, multi-factor authentication, and undergoing regular third-party security audits.

‍

Establishing user trust and confidence is essential, and businesses can achieve this by adhering to stringent security measures that enable businesses to establish a certain level of user trust and confidence, creating a secure and reliable trading environment. In the cryptocurrency industry, security is of paramount importance. White-label cryptocurrency exchanges prioritize the implementation of robust security protocols to protect user data and funds. 

‍

‍

Other security and fraud detection service can also be layered on top of your exchange such as reCAPTCHA or other services that help block automated robots or programs from trying spam and login so your users account. WIth services such as HollaEx, these featuers come inbuilt.

‍

One practical approach is to utilize open-source exchange software with a long-standing track record in the white-label crypto software space. This demonstrates reliability, as the public has extensively tested and reviewed the software. 

‍

Opting for well-established open-source solutions provides a proven level of security that newer, less-tested white-label options may not guarantee. Stakeholders must consider this trade-off of a new modern-looking platform vs. a well-established refined platform.

‍

‍

Utilizing secure Bitcoin wallets and integrating crypto banking functionalities enhances the exchange's security and trust. Best practices, such as encryption, multi-factor authentication, and regular security audits, ensure optimal data protection and safeguard user assets, instilling user confidence and creating a secure trading environment.

‍

Read more:
‍ Cyber-Security Best Practices Specific To Crypto Platforms 🔗

‍

Customization options, asset pricing and user experience

When it comes to white-label crypto exchange software, businesses have ample opportunities for customization. From user interface customization to incorporating business branding elements, tailoring the software to specific requirements is essential. By providing a personalized user experience, businesses can enhance engagement and user satisfaction, ultimately driving success in the market.

‍

Part of your exchange customization will of course come down to custom pricing. Perhaps you'd like to offer Bitcoin at your local price which may have a premium, this can be done via OTC, or through an orderbook. The custom pricing of digitial assets allow operators to book profits and with certain white labels can allow for consistent dynamic price tracking of global prices.

‍

‍

Attracting and retaining users critically depends on differentiating your white-label cryptocurrency exchange from the competition. Customization options are integral to achieving a unique user experience. 

‍

From brand identity customization to intuitive interfaces and cross-platform compatibility, white-label exchanges provide the flexibility to tailor the platform according to specific business requirements. Platform developers' expertise enables businesses to create visually appealing, user-friendly interfaces that enhance user engagement and satisfaction.

‍

Read more:
‍Rebranding my Exchange 🔗

‍

Streamlined development process

Developing white-label crypto exchange software follows a systematic process. Businesses should expect a series of well-defined steps from conceptualization to deployment, including requirements gathering, design, development, testing, and deployment. 

‍

While timelines may vary based on project complexity, working with a reliable development partner who can provide realistic estimates and ensure timely delivery is crucial.

‍

‍

That’s why selecting the right development company (or developing yourself) is crucial for the success of your white-label crypto exchange venture. With the ever-evolving nature of the blockchain industry, partnering with a development company that possesses expertise in blockchain development and understands the unique requirements of the cryptocurrency market is paramount.

‍

HollaEx has a proven track record and can offer invaluable insights and guidance throughout the development process, ensuring the smooth execution of your white-label cryptocurrency exchange project.

‍

Read more:
‍HollaEx Developer Resources and DIY Videos 🔗

‍

Leveraging white-label solutions for decentralized finance

The rise of decentralized finance (DeFi) has revolutionized the cryptocurrency industry, creating new opportunities for investors and enthusiasts. White-label cryptocurrency exchanges play a crucial role in the DeFi ecosystem, offering the necessary tools and features to cater to the needs of DeFi participants. 

‍

These exchanges seamlessly integrate DeFi functionalities, including staking, DeFi wallets, and yield farming capabilities, empowering users to access decentralized financial services within a secure and user-friendly environment.

‍

Read more:
‍HollaEx DeFi v2.3 updates 🔗

‍

DeFi development and smart contracts

Integrating decentralized finance (DeFi) capabilities and smart contracts within white-label cryptocurrency exchanges unlocks possibilities. DeFi development solutions allow for the seamless integration of lending platforms, DeFi wallets, and other DeFi protocols, expanding the range of financial services available to users. 

‍

Smart contracts enable transparent and efficient asset management by ensuring secure and automated transactions. With the assistance of smart contract developers, businesses can harness the full potential of DeFi within their white-label exchanges.

‍

Read more:
‍DeFi Asset Staking Process 🔗

‍

Building, a future-ready crypto exchange platform

In the fast-paced world of cryptocurrency trading, staying ahead of the competition requires a future-ready crypto exchange platform. White-label cryptocurrency exchanges utilize enterprise blockchain technology, enabling developers to create robust architectures that ensure scalability, security, and optimal performance. 

‍

With the expertise of platform developers, businesses can create feature-rich trading experiences encompassing advanced order types and real-time market data, providing users with a seamless and efficient trading environment. Some white labels may even include margin trading or derivatives.

‍

Read more:
‍API Guide: HollaEx provides extensive APIs 🔗

‍

Launch a crypto exchange today

Security, customization options, and development complexity significantly impact the cost of white-label crypto exchange software. Emphasizing the benefits of white-label solutions in the cryptocurrency market, businesses can leverage ready-made software to quickly enter the exchange space and capitalize on the growing demand. 

‍

‍

Experience the transformative potential of HollaEx as more than just a white-label crypto software. It's an all-inclusive toolkit that connects your business to the dynamic blockchain world. With HollaEx, you can launch your exchange featuring custom markets and assets, all on your domain. And the best part? You can start your journey with the freeware, open-source HollaEx DIY crypto tool kit.

‍

Take advantage of this unparalleled opportunity to create a thriving crypto exchange. Embrace the cutting-edge features and flexibility HollaEx offers, empowering you to carve your unique path in the ever-evolving cryptocurrency landscape. Take the first step towards success by harnessing the power of HollaEx today.

‍

Learn more:
‍Automate your exchange with admin APIs and Libraries 🔗

‍

Frequently asked questions (Top White Label FAQs)

1. What is white-label cryptocurrency exchange software?

White-label cryptocurrency exchange software is a customizable solution that allows businesses to launch their cryptocurrency exchange platform. It enables entrepreneurs to leverage existing infrastructure and technologies, such as robust blockchain financial architecture, smart contracts, and blockchain networking, to create a tailored exchange that meets their specific requirements.

2. How can white-label crypto exchanges benefit my business outcomes?

Businesses benefit from numerous advantages offered by white-label crypto exchanges. By utilizing a ready-made solution, you can create new product lines and services, which will generate new revenue streams while saving time and development costs. 

‍

These exchanges are designed with user-friendly interfaces, customizable branding options, and advanced features like margin trading, DeFi integration, and NFT marketplace development. 

‍

‍

This can also include a cryptocurrency app for Google Play Store, Apple AppStore, Windows, or macOS that can help expand the business outcomes by attracting a more extensive user base, enhancing trading volumes, and increasing revenue opportunities.

3. What factors affect the cost of white-label crypto exchange software development?

Various factors, including the desired features and functionalities, customization requirements, security measures, integration with other systems and networks such as API integrations with fiat payment and wallet providers, compliance with regulatory standards such as KYC and AML, and the level of expertise and experience of the development team influence the cost of white-label crypto exchange software development.

4. How can a white-label crypto exchange solution help me enter the cryptocurrency market?

A white-label crypto exchange solution provides a turnkey platform for quickly entering the cryptocurrency market. It is common for businesses to search for a Binance clone or clone app of whatever popular crypto exchange is out there in the hopes of eliminating the need to create an exchange from scratch, allowing businesses to focus on marketing strategies, user acquisition, branding, business, and the overall big picture.

‍

‍

With a white-label solution, you can expedite the launch process, offer a secure and reliable trading environment, and establish your presence in the competitive crypto industry.

5. What is the role of smart contract developers in cryptocurrency exchange development?

Smart contract developers play a crucial role in cryptocurrency exchange development, partially decentralized exchanges. Smart contracts are often used in centralized exchanges to offer certain decentralized finance applications such as staking. Developers working with exchanges are often fluent react js developers and developers responsible for creating and implementing smart contracts that facilitate secure and automated transactions on the exchange. 

‍

Smart contracts can contribute to the transparency and immutability of transaction records while enabling the execution of simple trades and complex asset swap algorithms. They can enhance the overall efficiency and reliability of the exchange. Smart contract developers are sometimes necessary depending on the target market of the exchange participants.

‍

Note that a web3 developer is also commonly used interchangeably with ‘smart control developers’, playing similar roles within exchange projects and services.

6. How does a white-label crypto exchange differ from a decentralized exchange (DEX)?

While white-label crypto and decentralized exchanges (DEX) are used for trading cryptocurrencies, they differ in their underlying architecture. 

‍

White-label exchanges are typically built on a centralized infrastructure, providing a familiar trading experience, and superior speed, while being low-cost and with complete control over branding, with features like instant order matching, instant liquidity management, and more end-user controls. On the other hand, DEX operates on decentralized networks, allowing users to trade directly, albeit more costly and slowly, from their wallets without relying on a central authority.

7. Can a white-label crypto exchange support margin trading and other advanced trading features?

Some white-label crypto exchanges offer crypto derivatives with margin trading support, allowing users to trade with borrowed funds and leverage their positions. Margin trading is substantially risky and requires considerably more operational startup capital and ongoing operations.

‍

In addition to margin trading, white-label exchanges can incorporate other exchange scripts and advanced trading features like limit orders, stop-loss orders, market orders, trading bots, IDO development, Dapp development, and API integration, providing users with a comprehensive and sophisticated exchange trading experience.

Note a cryptocurrency exchange script can execute precisely on a specific page on the exchange to deliver cross-platform functionality, such as signing up on both platforms as a user creates an account on one of the platforms.

8. Why start a cryptocurrency exchange?

A cryptocurrency exchange serves as the central hub for trade, providing businesses with a platform to trade various digital goods and services actively. Trade and exchange is a timeless and now global activity that can be conducted through the internet from anywhere, and within minutes, making it a good primary business and/or auxiliary business.

‍

‍

Furthermore, it plays a pivotal role in asset digitization, distribution, and pricing. When digitized (or tokenized), assets gain high fungibility, making them globally tradable and liquid. This enables individuals to own fractions of assets through the exchange.

‍

Moreover, white-label exchanges offer practical solutions to businesses, allowing them to increase revenue by facilitating the trading of popular crypto assets such as Bitcoin on multiple blockchain networks.

‍

By owning and operating an exchange, businesses can bypass the expensive blockchain development process and instantly access core crypto banking technology that operates solely on blockchain financial rails.

9. Does HollaEx offer blockchain consulting services?

Yes, we offer blockchain application development consulting services. If you’re developing a trading app and need help with someone to talk to and advise your cryptocurrency exchange software developers, then contact our team today.

10. Do you have resources for crypto exchange developers?

Yes, please view our developers page, which has:

‍

• HollaEx DIY videos
• Trading bots
• HollaEx APIs
• Developer Tools
• Server Status

11. Can I view your code on GitHub?

Yes, you can. Our open source white label crypto exchange software can be viewed here: 

https://github.com/hollaex/hollaex-kit 

12. Can I read reviews about HollaEx?

Sure. Feel free to check out the following reviews about HollaEX:

‍

• G2: HollaEx Reviews and Product Details (14 reviews with a 4.4-star rating)
  ⭐⭐⭐⭐✰

• SourceForge: HollaEx Reviews and Pricing 2023 (36 reviews with a 4.5-star rating)
  ⭐⭐⭐⭐✰

• DecentReviews: Web3 projects Reviews (2 reviews 4.5-star rating)
  ⭐⭐⭐⭐✰

• Product Hunt: White Label Software Reviews (Over 4 reviews 4-star rating)
  ⭐⭐⭐⭐⋆

• SlashDot: White Label Software Reviews (Over 30 reviews 4.5-star rating)
  ⭐⭐⭐⭐✰

13. How can I find out more information about HollaEx?

To learn more about Hollaex, please visit our resources page, which has more information about:

‍

• Exchange plans
• Accounts and payments
• Pricing
• Exchange features
• Plugins and APIs
• Coin and market pairs
• Customization.
• Wallet and transactions
• Fees
• Liquidity
• Additional FAQs
• Training videos

14. Where can I find the latest news and media coverage about your company?

Head over to our media page, which contains many of the news publications that HollaEx has been featured in over the years.

As we pass the halfway mark of the year, HollaEx continues to shine in the crypto white label space, garnering more accolades. Once again, SourceForge and G2, both prominent software and services review and comparison websites worldwide, have recognized HollaEx, a leading provider of white-label cryptocurrency exchange technology, with the prestigious 2023 Leader Award. This esteemed honor is bestowed upon businesses and products that have received the highest number of positive ratings from SourceForge users.

‍

‍

To earn the Spring 2023 Leader award, HollaEx had to accumulate a significant number of positive user ratings, positioning their product among the top 5 percent of favorably reviewed offerings on SourceForge. This exceptional achievement reinforces HollaEx's steadfast commitment to delivering unmatched customer satisfaction, consistently surpassing the established criteria.

‍

Notably, HollaEx has also been recognized by G2 Software Reviews, the largest software review website on the web. The company has been awarded as a high performer in the Small-Business Grid® Report, with commendable customer satisfaction scores within the crypto white label software space.

‍

‍

These multiple awards highlight HollaEx's continued success and over 4 stars ⭐⭐⭐⭐✰ in providing top-notch white-label solutions for cryptocurrency exchanges, solidifying its position as a market leader in the industry. The recognition from SourceForge and G2 reflects the company's ongoing dedication to excellence and customer-centric approach in the ever-evolving world of crypto technology.

‍

Paying taxes is never a pleasant experience, but it doesn't have to be an arduous task either. That's why HollaEx has been integrated into Koinly to provide a seamless tax reporting solution, something which your exchange, and users, can benefit from too.

‍

Koinly is a service that simplifies the process of consolidating information from all your crypto wallets into a comprehensive report tailored for over 100 countries. Removing the need to delve through screeds of tables and work out when, and where, all your transactions were made, and how they measure up to each other. Instead, the entire process can be completed in a matter of minutes, and will create a report that can be used to submit on your country’s specific tax form.

‍

The best part is, this service is completely free for you! You can even generate profits by getting a percentage of Koinly’s fee for users who have over 1000 transactions to process.

‍

Planning to pay tax may not be the highlight of your users’ years, but at least you can provide them the tools to make it just a little bit simpler. Once you have contacted and are set up with Koinly, let your users know that they have even more options to make life that little bit easier.

‍

HollaEx v2.7 (Hendrick) — Trade More Assets via Quick Trade and Dynamically Price any Assets

‍

HollaEx version 2.7, codename 🎉Hendrick, is one of the most advanced releases yet, introducing a whole new trading option as well as a host of new quality-of-life features!

‍

Version 2.7 brings significant enhancements to the OTC Broker with the new dynamic pricing system, which opens up a world of market opportunities through Quick Trade. Additionally, we've bolstered security measures by introducing advanced session management tools, ensuring both the user and the operator more methods of protecting themselves and their platform.

‍

Find out the details on Hendrick below. 👇

‍

Feature details

Dynamic Pricing Through the Crypto OTC Broker

Dynamic Pricing is the most significant addition to HollaEx in 2,7 and one of more advanced features added so far, available to exchanges on Crypto Pro, Fiat Ramp, and DIY Boost.

‍

‍

Dynamic pricing will allow operators to define OTC prices and profit spread automatically, noting prices from across other exchanges and using these to base the pricing of any digital asset on your own exchange. This removes the need to manually update your prices on the OTC Broker (as is the case with static pricing).

‍

‍

This price ‘copying’ doesn’t just have to be from a single source either, instead, multiple prices can be referenced and averaged, and then this average is set to the OTC price on your exchange. In fact any formulation can be input to the dynamic pricing.

‍

For example, if you’d like to price a newly added custom token at roughly half the price of the US dollar (and to follow any USD fluctuations) you could reference both USDT and USDC from a platform of choice, say Binance, divide this value in two and your asset would be set at roughly ~$0.50 USD, and tradable for in the ‘Quick Trade’ screen.

‍

This price will be rechecked regularly (more regularly for Fiat Ramp and Boost exchanges) by the HollaEx exchange system, and the price dynamically adjusted (with spread) on the fly, meaning you can relax and trust that your exchange will consistently provide 24/7, competitive, and profitable prices.

‍

This same concept is applicable to assets with more volatile prices, where you’d be able to track say the XRP price and have your custom asset dynamically priced and pegged to the price of XRP.

‍

‍

Localized Pricing

The dynamic pricing is not only for custom coins and tokens, but also for repricing established assets like Bitcoin. Pricing is different everywhere and operator can now reflect the localized price differences for any of the popular digital assets.

‍

‍

This flexibility allows for the businesses to incorporate any country-specific factors that may influence certain price premiums, or discounts. By utilizing the dynamic OTC pricing system, operators can add price spread, or even add more advanced price formulas to create hyper specific pricing. In the advanced section operators can do basic adding, subtracting, dividing, multiplying, percentage and more, to more accurately and reliably price any digital asset.

‍

‍

OTC Deal Hedging

In addition, there is a new hedging function. This allows for any deal that is made to be hedged on another platform. For example, if $100 USD worth of your Bitcoin is sold through your OTC desk, you’d be able to replenish the amount of Bitcoin that was sold elsewhere. 

‍

‍

This requires funds at the ready to purchase Bitcoin. This automatic hedging is set up via an API to an exchange account elsewhere. In short, hedging tries to do the opposite trade that occurs through your OTC desk (buys back BTC as you sell BTC, and sells BTC as buy BTC). Confused? Not to worry, there will be a video explaining coming in short order to address the mechanics.

‍

‍

Dynamic Pricing Plan Accessibility

Dynamic pricing is available on Crypto Pro, Fiat Ramp and Boost, however, hedging will only be available on Fiat Ramp and Boost.

‍

See dynamic pricing plan accessibility details below:

‍

‍

(Note, DEXs such as Uniswap are currently pending integration and will be added in the proceeding months)

‍

‍

Buy More Assets via the Network Swap

The HollaEx white-label crypto exchange currently provides over 50+ popular digital assets and marketplaces, however, not every tradable market will include an orderbook. 

‍

In v2.7 a new market source called the Network Swap will be included for all exchanges connected to the HollaEx Network.

‍

Network Swap markets will be accessible via the Quick Trade page. The first few assets offered through the Quick Trade Network Swap markets are USD Coin (USDC), Gala (GALA), Pepe (PEPE) and SingularityNET (AGIX). These asset prices and liquidity sources will not originate from an orderbook but instead, be offered OTC style directly from HollaEx.

‍

‍

Network Swap will allow for an even more expansive list of cryptocurrencies on offer, with more being gradually added and announced. Stay tuned via HollaEx Twitter, Discord, or Telegram to know when new assets via the swap are added.

‍

‍

What’s Different About Network Swap?

The Network Swap, also known as the “Network Broker”, as indicated in the bottom right of the Quick Trade is an OTC deal. OTC deals use custom pricing and in the case of the Network Swap originates from HollaEx. 

‍

This means liquidity isn’t originating from a public orderbook, like through using Pro Trade, but rather liquidity is sourced privately from HollaEx Network. Note, operators can create their own OTC swap with new and custom assets (to learn more, watch the video below 👇). 

‍

‍

Note, all OTC Network Swap trades conducted through Quick Trade are instantaneous. This feature provides the advantage of nearly exact quotes, which may not always be guaranteed when purchasing from a dynamic public orderbook. This can be particularly beneficial for target markets that are not familiar with the intricacies of orderbook trading. It also offers a preferable interface for certain businesses.

‍

‍

Configure Quick Trade Markets

In version 2.7, operators have gained the ability to redirect the source of each Quick Trade market, providing more flexibility and customization options.

‍

‍

The Quick Trade interface is designed to be a user-friendly buying and selling system for those who prefer simplicity and are not concerned with the orderbook or price sensitivity. In the past, Quick Trade markets could not be easily customized, but now operators can configure them through the Operator Controls in the Markets section.

‍

The new Quick Trade configuration page displays all available markets automatically. Operators can disable or reactivate specific markets to control their visibility and accessibility on the exchange.

‍

For instance, if Bitcoin Cash (BCH) is added to the exchange, the Quick Trade interface will automatically list any available markets related to BCH. In this case, the BCH/USDT orderbook will be given priority. If no orderbook is available, the Quick Trade will utilize a Network Swap source.

‍

Operators have the option to set up custom pricing for BCH by creating a new OTC desk specifically for BCH. They can then go back to the Quick Trade page and configure the BCH market source to the OTC desk.

‍

Each Quick Trade market can be further configured to source prices and liquidity from HollaEx's new Network Swap, a matching Public Orderbook, or a personal OTC Desk established by the operator.

‍

‍

Previously, Quick Trade markets could only source from the Orderbook or a personal OTC desk set up by operators. However, with the addition of the Network Swap, operators will soon have an ever wider selection of markets to share with their user base, starting with Network Swaps for PEPE, USDC, GALA, and AGIX.

‍

‍

Session Management System

In v2.7 operators and end users will find a new ‘Session Management’ system that can be used to monitor and revoke sessions. Sessions refer to when an account has logged in and remains ‘Active’ (AKA: logged in). With the session management system, operators and users are given data and control over their (and in the operator's case, the exchange’s) users’ sessions.

‍

Session Management can assist in the security of the on-exchange account by allowing that account holder to revoke sessions. This could be useful in the case where a device (say a mobile phone) with an active login has been lost.

‍

By revoking the active session on the lost device the user (or operator) can rest assured that the account will be logged out and the account will be inaccessible from that device (until the next login).

‍

Each session includes:

‍

• Last seen (When an account was last active)
• Session started
• Session expiry
• Status

‍

‍

More information can be found by expanding the sessions table item:

‍

• Country of login
• IP Address
• Device (and browser info)
• Successful login time

‍

Note, the Session expiry is 24h from each Session start date. The last seen is a reference to when the account was active for that session (a user returning after say 8 hours will trigger the Last seen time to update).

‍

‍

Tracking and Preventing Repeat Login Attempts

‍

‍

Expanding on the Sessions Management tools, there is now a ‘Login History’ page (located in the Security tab) tracking all login attempts. For each successful login, an active session will be viewable on the ‘Sessions’ page.

‍

In addition, color-coded bars will indicate the number of failed attempts. 

‍

After five failed attempts there will be a period preventing any more attempts from the same origin.

‍

Note for exchange operators that have an app, devices that indicate ‘Dart/3.0 (dart:io)’ are referencing the app. For operators interested in an app version (.apk, .exe, iOS, macOS, etc.) please make an inquiry at sales@hollaex.com.

‍

‍

Operator Control — Review All User Sessions and Login History

Similar to the user Sessions Management and Login History, the admin now has a bird's eye view on all user sessions and login attempts on their exchange. The admin operator can utilize the Sessions Management in the same way, by revoking any user sessions that might be at risk due to lost devices and/or preventing unauthorized use of a user account.

‍

Similarly the login history attempts allow a vigilant operator to track any suspicious activity and prevent unauthorized attempts on a user account early.

‍

‍

In addition, the ‘Logins’ page on the Operator Control also includes powerful search filters for searching for failed logins, the originating country of the login attempt, IP address and the User ID.

‍

‍

The Sessions also includes a filter to search for the time period of Sessions, Active and Expired sessions status on the exchange.

‍

‍

‍

Operator Control — User Filter and Search

Update v2.7 improves the operator's ability to search through their users. This includes new filters such as ‘Verification Level’, ‘Bank status’ as well as searching both ‘Email’ and ‘ID’. These can all be combined to find exactly the users you want to find.

‍

See the screenshot below for all 16 filters 👇

‍

‍

In addition, the returned list will display exactly how many users satisfy the search and filter settings input, with a small ‘Total’ indicator on the top right, above the returned results table.

‍

‍

Note, that the power of the search is dependent on what information on themselves the user has shared in their profiles and verifying information/ docs.

‍

‍

Finding Users’ Current Balances

Operators can now collect users’ balances from the exchange within a downloadable .csv file by applying filters and then downloading. The time this will take to collate will depend on how many users are on the exchange, but once complete the .csv will be downloaded and ready for use in any program that is compatible with .csv files. 

‍

Each .csv will contain the data as follows: 

• Balance (red underline in screenshot below 👇)
• Available (Balance) (dark pink)
• Symbol (light magenta)
• Updated At (purple)
• User ID (dark blue)
• Network ID (light blue)

‍

‍

Note that the ‘available (balance)’ refers to the total balance minus any funds that are currently tied up in trades. For instance, if there are pending limit orders, the amount reserved for those orders will be deducted from the total balance to calculate the final available balance.

‍

‍

Other Noteworthy Updates

Interactive HollaEx Setup Demo

An interactive demo can be located on HollaEx website at https://www.hollaex.com/hollaex-interactive-demo showing all the steps involved for the initial exchange setup.

‍

‍

‍

Interactive Exchange Demo

For interested parties looking to see the results of a complete exchange they can use the exchange interactive demo located on G2 by scrolling down and looking for the spinning disk. 💾

‍

‍

‍

New Videos

Setting Your HollaEx Exchange's Custom Domain:

‍

‍

The video demonstrates how operators utilizing HollaEx Cloud have the flexibility to transition from hosting their exchange using the default domain provided by HollaEx to hosting it on a custom domain URL. It highlights the seamless and efficient process of changing domains, which can be accomplished within a matter of minutes.

‍

For more videos visit the HollaEx YouTube library at https://www.youtube.com/@HollaEx/videos

‍

‍

Asset Accessibility on Dashboard

The dashboard will now label assets that require a plan upgrade. For example, the Crypto Pro plan will grant access to all crypto assets, while Fiat Ramp and Boost will be the added benefit of adding fiat currencies (as well as all other crypto assets). Basic exchanges (including DIY Basic) will be limited to 4 assets of choice.

‍

‍

Below is a table explaining the key benefits of each plan:

‍

‍

‍

New Plugins

The Exchange plugin app marketplace on the Operator Controls Panel now sports few new plugins, such as the Guardian integration plugin (included for exchanges on Fiat Ramp and Boost plans). 

‍

‍

Other plugins such as Intercom and Crisp are also available to help operators with custom support and communication. Once bought the plugin will be activated and available for use.

‍

‍

Operators will then be able to connect their Intercom and Crisp accounts to their exchange for seamless user communications.

‍

‍

To view all available plugins, simply launch your exchange and go to your admin Operator Controls and click “Plugins” on the sidebar.

‍

‍

‍

⭐ 256 Stars on GitHub

Recently HollaEx has reached a major milestone on GitHub with 256 stars!

‍

‍

For curious developers, entrepreneurs and businesses the HollaEx Kit on GitHub allows for a great testing environment as it provides all the basic assets, exchange features and 100s of exchange UX/UX pages that can be openly changed and customized to fit your brand, assets and digital marketplaces.

‍

Give HollaEx open-source white label a test drive at https://github.com/hollaex/hollaex-kit and download the kit, then make an account on the dashboard. For further steps read the HollaEx docs, and be sure to give HollaEx a star if you find the exchange kit useful. ⭐

‍

‍

Next Up

Exciting things are on the horizon with the upcoming release of HollaEx! Our dedicated team is diligently working on version 2.8, which will introduce game-changing features for operators. One of the key highlights will be the implementation of comprehensive staking controls, empowering operators with the ability to create customized rule sets for their token staking pools. This unprecedented level of control will enhance the flexibility and uniqueness of each staking pool, setting operators apart in the market.

‍

But that's not all! Cloud exchange operators will also be treated to an exclusive feature in version 2.8. They will gain access to a robust monitoring system, enabling them to closely track and analyze exchange server metrics and logs. This invaluable tool will provide operators with deep insights into the inner workings of their exchange, aiding in troubleshooting and gaining a better understanding of the system's performance.

‍

‍

Last but not least, HollaEx.com will soon have a whole new look and feel — that global crypto feel!

‍

‍

‍

To the Most Powerful White-Label Exchange

Why settle for a mundane exchange experience when you have a HollaEx white label? With its cutting-edge crypto white label exchange, HollaEx v2.7 Hendrick allows you to focus on what truly matters: nurturing the growth of your business. 🚀

‍

Raise your glass to a prosperous future for your online venture with HollaEx v2.7 Hendrick. Cheers to dynamic asset pricing facilitated by Quick Trade, Network Swap, and numerous new plugins, enhancing your trading experience. 🥂

‍

To embrace the future by starting your own exchange business today on HollaEx dashboard, or witness HollaEx in action by booking a live demonstration. ⚙️

‍

‍

Wishing you continued success until our next update! ✨

‍

— HollaEx Team

HollaEx v2.5 -- Branded, Customizable, and Secure Exchange Software for Crypto Entrepreneurs

HollaEx version 2.5, nicknamed 🌸Cognac, is the latest major update that has just been released. With an impressive 21 features, this update averages almost one feature per week since the last major update six months ago. The release of this update comes at a time of significant changes in the crypto space, where 2022 is known as the year of the big shakeout of over-exposed, and over-leveraged players.

‍

Despite this shakeout, recent developments in the crypto market have added buoyancy to the industry, with two key events making headlines. Ordinals has enabled the attachment of jpegs and other media to Bitcoin's blockchain causing a stir in the NFT use case market and challenging Ethereum's blockchain. 

‍

Additionally, Grayscale's case against the SEC is gaining traction, indicating that the first US Bitcoin ETF could be on the horizon, driving gains for Bitcoin and other crypto assets.

‍

The HollaEx v2.5 white label exchange update introduces a range of new features to enhance the user experience for both operators and users. These include better customization and branding options, with the ability to pin any market to the top of the markets list, add hyperlinks anywhere, and create a new coin info page that makes it easier for token creators to publicize and market their token directly on their own branded crypto exchange.

‍

Additionally, significant improvements have been made to security with a newer Node.js version, a marketplace for exchange plugin apps has been added, the referral system has been improved, and a QR code scanner has been introduced. HollaEx v2.5 was named after one of the finest spirits known to humanity: Cognac. Just like its namesake, this update is smooth, sophisticated, and packs a punch. So let's raise a glass (or a QR code scanner) to Cognac and dive into the exciting new features below. 👇

‍

‍

Feature details

Assets Info Page

First HollaEx white label exchange will now include an Assets Info page, which differs from the market list and wallet asset list by providing in-depth information on each digital asset available on the exchange. This page will serve as a crucial component of the exchange, as it will include valuable background information such as links to the asset's homepage, block explorer, and other pertinent details.

‍

‍

The Assets Info page streamlines content creation and front-end development for operators, reducing the workload required for asset information dissemination. Furthermore, having their custom token prominently featured on the page can boost an operator's token legitimacy and trust, as the exchange infrastructure provides support for the token. This can also help to increase the token’s visibility and user interest. Overall, the Assets Info page is a valuable addition to the platform that can benefit both exchange business operators and token creators and communities alike.

‍

‍

‍

Node.js Upgrade

Perhaps the biggest behind the scenes update to HollaEx has been the upgrade to Node.js from v10 to v16. The upgrade offers our users a more secure and stable exchange platform.

‍

‍

For those who might not be familiar, Node.js is a powerful and popular open-source cross-platform server environment that can run on a variety of operating systems, including Windows, Linux, Unix, macOS, and more. The upgrade brings significant improvements to security of the open-source white label exchange software by reducing risks from old library dependencies and others.

‍

‍

Wallet Dust Sweeper Tool

Do you find yourself stuck with small balances of various coins in your wallet that are too insignificant to withdraw? These small balances, often referred to as dust, accumulates over time and can't easily be traded due to being below the minimum trade amount required on the exchange. With the HollaEx wallet duster feature, this issue is now resolved.

‍

‍

Introducing the Dust Sweeper tool, which allows users to convert their dust balances into another currency. This feature is available to all HollaEx users and typically converts the dust into XHT (HollaEx Token).

‍

For upgraded operators on higher level exchange plans they’ll have the freedom to customize their platform’s dust settlement into a different currency, such as a stablecoin or even their own custom token.

‍

‍

With the HollaEx wallet duster feature, users can now clean up their wallets and make use of small, previously unusable balances. This update greatly enhances the user experience, making HollaEx the preferred choice for both users and operators in the white label exchange market.

‍

‍

User Adjusted Market List Ordering

On the markets list page, where all the market prices, volume, and mini-charts are displayed, there is now an easy way to adjust the order of these markets. Users can choose to order markets by the 24-hour price change or the traded volume amount.

‍

‍

To change the order, users can simply toggle the column by clicking on the small arrows. An up arrow indicates the largest change or volume, which will be at the top, while a down arrow indicates the lowest volume and the lowest or negative changing markets at the bottom of the market list.

‍

Additionally, changes have been made to the volume amounts displayed. Now, both the actual traded currency volume amount and the value of that in USDT or the native currency set on the exchange are shown.

‍

‍

Market Pinning and Default Ordering

Operators have the ability to control the default view that their users will see in the market list. They can choose to show the markets first that are the biggest gainers (Change) or show the markets first that are the most actively traded (Volume).

‍

‍

In addition to this, the market list now includes an option to pin any market to the top of the list. These pinned markets will remain at the top of the market list regardless of any changes made by the user. Pinning is an effective way to promote a market or an asset.

‍

‍

Fees and Deposit/Withdrawal Info Page

In HollaEx v2.5, the information for trading fees for each user account level tier was difficult to read and compare as it was contained in a small pop-up. In v2.5, a dedicated page has been created for trading fees and deposit/withdrawal rules to improve usability.

‍

‍

The fee rules are still separated into market maker (limit order trades) and taker (market order trades) rules sets. Furthermore, the information on user deposits and withdrawals is also available and formatted in an easier-to-read way.

‍

‍

In the coming weeks, this page will also be made public by default, allowing anyone to access the trading fee and deposit/withdrawal information without requiring a login.

‍

‍

Added 24h Market Price Activity Info

In HollaEx v2.5, an important and useful feature has been added to the Chart tool. The 24-hour price activity information, which is crucial market data that traders need to monitor frequently, is now displayed in a dedicated space within the Chart tool.

‍

This feature enables users to view key details for a crypto market pinned to the top of the Chart tool on the Pro Trading page. The 24-hour price activity info is displayed in bold in the title bar space, making it easy for traders to quickly and easily access this information while they analyze the market.

‍

By pinning key market details to the top of the Chart tool, users can efficiently and effectively monitor their trades and react quickly to changes in the market, helping them make more informed and profitable trading decisions. This feature adds a level of convenience and ease-of-use to the HollaEx platform that is sure to be appreciated by both novice and experienced traders alike.

‍

‍

Quick Trade Improvements

HollaEx platform has been updated to offer an even faster and smoother user experience. This page is designed to provide users with a hassle-free way to trade cryptocurrencies without having to deal with complex order books and precise limit order entry requirements.

‍

‍

The improvements made to the Quick Trade page have focused on streamlining the trading process, making it easier for users to execute trades quickly and with minimal effort. The page has been optimized for speed and efficiency, with a clean and intuitive interface that allows users to quickly select the desired cryptocurrency pairs they wish to trade.

‍

‍

Exchange App Store

The HollaEx dashboard and Operator Control Panel now refer to plugins as plugin apps, and the platform also includes the Exchange App Store marketplace. This marketplace functions similarly to popular mobile app stores like Google Play and Apple App Store, but instead provides apps specifically designed for crypto exchanges.

‍

‍

The Exchange App Store features a range of premium paid plugins and a few free ones that can be installed. These plugin apps enhance the functionality of exchanges and are now easier to install and remove than before, with improved accessibility for each app. Some apps will be available for free with certain level plans, while others will require the highest level plans, such as Fiat plugins, which will be accessible to Fiat Ramp and Boost exchange plans.

‍

One example of a new purchasable plugin app is a new plugin app for operators to more easily list their exchange on CoinMarketCap with a unified API endpoints that CoinMarketCap requires in order to list new exchanges on their website.

‍

Additional blog posts will share information on developing your own plugin app and earning cryptocurrency from these apps, as well as the plugin app infrastructure and the Exchange App 

Store.

‍

Also, plugin apps can now be manually upgraded in the configuration page by simply uploading a .json file.

‍

Overall, these updates provide business operators with a richer exchange experience, allowing them to easily access and install extra functionality to enhance their online crypto business.

‍

‍

Operator’s Billing Page

Along with the Exchange App Store comes the ability to purchase premium plugin apps directly on the Operator Control Panel. The new blue billing page works in a similar way to the one on the HollaEx dashboard, with the added ability for operators to make purchases for not only their exchange’s plans but also to make purchases for extra functionality from the new Exchange App Store.

‍

In addition, the billing page now includes a credit card checkout feature that works with Stripe for those who prefer traditional payment methods. Any payments made with XHT, however, will receive a discount of 10% on all transactions, regardless of the size of the transaction.

‍

User’s App Page

v2.5 introduces a new Apps page for users. Exchange operators can now activate this page for their users, allowing them to access and activate a variety of apps that add extra functionalities to their accounts. This feature provides users with the ability to customize their own crypto exchange experience based on their unique needs and preferences.

‍

‍

Stay tuned for more self-activated user apps, coming soon!

‍

Add Text Links Anywhere

The admin now has the ability to add links while in the direct edit mode by clicking the blue pencil icon on any text string on the exchange.

‍

The Edit String pop-up now includes a link icon that displays a code structure;

‍

<a href="https://example.com">link</a>

‍

The admin can insert a custom URL within the " ", and change the default text link anchor 'link' to whatever word anchor they’d like. 

‍

After clicking save, the text link will then appear as a colored underlined text with the corresponding theme's link color. The admin can Publish the changes, allowing users to see the newly added link.

‍

‍

Improved User Referral Data

In the past, it was difficult to know which users referred whom, and users had limited access to information about those they had successfully signed up. However, in HollaEx v2.5, much of the referral data is now available for both administrator and user.

‍

‍

Administrators can now view a list of all the users that a particular user has successfully onboarded onto the platform by accessing the new 'Referrals' page which is accessible on each User Profile page within the Operator Control Panel. Similarly, the user themselves can review and see who they’ve successfully signed up to the platform from the Summary page.

‍

‍

‍

QR Code Scanner

Withdrawing cryptocurrency has been made even easier with the new built-in QR code feature. 

‍

‍

Previously, copying and pasting crypto addresses on mobile devices was a hassle, but now users can simply tap on the SCAN button located in the crypto address input field to activate the camera on their phone or PC. Once the camera has permission to turn on, it will automatically detect any QR code presented to it and paste the crypto address it reads from the QR code directly into the address field.

‍

‍

Moreover, the deposit page has also been updated with a similar QR code feature. By clicking or tapping on the QR code icon located in the deposit address field, the user can display the QR code version of the address allowing users to share it easily with others or for their own in the moment use. These new QR code additions aim to save time for the user when depositing and withdrawing cryptocurrency.

‍

‍

Smoother 2FA Input

Let's face it, although two-factor authentication (2FA) is a great defense mechanism, inputting the 6-digit code can be a hassle. In this new HollaEx release, 2FA has been improved to automatically detect when the code has been entered and will verify it automatically, providing a smoother login experience when the code is correct. Saving time from having to hit enter on your keyboard or clicking/tapping the Confirm button.

‍

‍

If the code entered is incorrect, the 2FA pop-up will clear the input fields automatically, allowing for the corrected code to be re-entered, saving time when manually clearing the field.

‍

‍

More Trade Order Details

With the new ‘append order’ function in the history page's table, users can now access a wealth of information regarding their orders and executed trades. Specifically, each trade and order now comes with a corresponding ID, allowing users to easily track and match their original orders with executed trades. This feature is especially useful for tracking orders placed long ago that may have recently triggered a trade.

‍

‍

Furthermore, when orders are appended to the table, they display additional information such as the trigger price (stop price) and the time of the last trade associated with the order. Overall, this improved level of detail in the transaction history page enhances transparency and helps users make more informed trading decisions.

‍

‍

‍

Market Drop Down Selector in Wallet

v2.5 introduces a new drop-down selector that intelligently detects and displays all available markets for that asset. This selector is located just above the ‘TRADE’ button and allows users to easily select the desired market they wish to trade in.

‍

‍

The new drop-down selector saves time and effort for users by providing a seamless experience in selecting the desired market for their digital asset trade and saves them from having to manually navigate to the desired market.

‍

‍

Easy Language Selection

Switch between languages on the exchange with the new language selector drop-down found in the top right corner of the main navigation bar.

‍

‍

Furthermore, the exchange builder community has now added Urdu as a new language option. Urdu, also known as Pakistani. This addition enhances inclusivity and accessibility for more users globally.

‍

‍

‍

Admin Retry Transaction

The ‘Retry’ feature is intended to simplify the task of managing transactions that are either pending or stuck. When a transaction is stuck or fails to process correctly, admins can simply click on the ‘Retry’ text link to resubmit the transaction for processing on the blockchain. Alternatively, the transaction can be resubmitted for processing through fiat third-party payment systems.

‍

‍

This feature is a significant enhancement for admins, as it saves them time and effort that would otherwise be spent manually correcting stuck transactions. By simplifying the process of resubmitting transactions, ‘Retry’ helps ensure that transactions are processed as efficiently as possible, improving the exchange's financial operation experience.

‍

‍

HollaEx App

Exciting news, HollaEx has just launched the highly anticipated white label exchange app 🎉. A game-changing addition for some users who prefer a native app experience over a browser-based one.

‍

The white label exchange app significantly enhances user-experience and speed and can be installed on Windows and macOS desktops, allowing users to access their exchange from multiple devices. With seamless connectivity to live crypto markets, this exclusive suite of apps is designed for maximum flexibility and convenience.

‍

‍

Not only is the app available for desktop but is also available on mobile, making it easier for exchange businesses to increase their brand power by being on the Apple App Store and Google Play Store with their own branded natively installable exchange application in an Android and iOS file format.

‍

Join the best of the best top exchanges using HollaEx’s white label exchange app, and take your crypto business to the next level by — request access to the app now.

‍

Don't miss out on the opportunity.

‍

‍

Other note-worthy updates

Some power users may have noticed that the old markets list URL has been retired and instead now all HollaEx white label exchanges use an easier to remember URL slug; /markets. This direct URL is public and can be shared with your potential investors and customers easily.

‍

For example you can easily share a public page that does not require a login to your customers with the URL like so `myexchange.com/markets`.

‍

HollaEx has also made several updates to its documentation and now searchable Resources page on HollaEx.com, plus new blogs and media content updates. For example, the blog page now lists some older informative articles that were not previously included in the HollaEx website rehaul update, such as ‘The History of Exchange’ and ‘Definitive White Label Guide’.

Also HollaEx remains the largest public resource on crypto white label exchange software on YouTube, with many more new additions added to the video library▶️

‍

‍

In addition, HollaEx regularly conducts coin votes on social media platforms, allowing the community to select and add coins to the open source white label exchange. So far, many coins have been added through community voting, two recent coins being TON (by Telegram chat app) and DASH. Anyone can vote by simply following HollaEx on social media where the votes are announced on a bi-weekly / monthly basis.

‍

Finally, for those using the HollaEx Pro exchange, or for those businesses running their own exchange with HollaEx software they or their users can now easily set up a trading bot for free using open-source trading bot software OctoBot.

‍

A community made video has been made here on how to use OctoBot with HollaEx. Open-source bots for open-source exchange – imagine that!

‍

‍

‍

Up next

The HollaEx white label exchange platform is gearing up to add several exciting new features that will take the user experience to the next level. Among the updates in the pipeline are more data analysis tools, which will provide users with advanced analytics to inform better business management decision-making. Additionally, the platform will be rolling out more apps and plugins that allow users to customize their accounts and access additional functionalities.

‍

One of the most significant updates coming soon is the addition of independent coin deposit and withdrawal rules.

‍

The dashboard is also slated for an update to make it more user-friendly and intuitive, and the platform will soon launch a network stats page on HollaEx.com. This feature will provide more data on exchange count within the HollaEx Network, HollaEx Token price, staked info, coins listed, and other relevant information on the HollaEx Network of exchanges.

‍

Finally, the user search in the Operator Control Panel will be overhauled, making it easier to locate users based on more specific details like bank processing state, transaction, country and of course email, keywords and user ID. Stay tuned for these exciting updates, which will elevate your exchange experience to new heights.

‍

‍

The smoothest white-label exchange platform yet

Why settle for a bland and boring exchange platform when you can sip on the smooth and sophisticated flavor of HollaEx v2.5 Cognac? With its streamlined 🗲 crypto white label exchange you can focus on what really matters: growing your business.

‍

So raise a glass to the future of your online business with HollaEx v2.5 Cognac.🥂

‍

Introduced in v2.6 (Cass): Simplified API Integration for Operators and Users

‍

The latest HollaEx update (codename: Cass) is a big one, and this time it’s all about the devs. The latest update enables operators and their users to interface programmatically with their exchange and set up scripts to accomplish exchange functions easily.

‍

Key to this is the addition of the API Key section to the operator controls. This enables scripting admin functions in a similar way to the previously existing user API key section, so the concept should be familiar to those who have already taken advantage of this. The new admin API access is exclusively for exchanges running on Crypto Pro, Fiat Ramp or DIY Boost.

‍

Each key gives access to functionality within the scope of that key. This means that with a user key for example, scripts will only be able to read and write information pertaining to their own account, or access public exchange information. Admin keys have a greater scope, and so can perform the same functions, as well as exchange-wide functions, such as settling fees for the exchange to a wallet. 

‍

‍

The HollaEx docs have a full detailed rundown on how to set up and use API keys. In brief API Keys can be generated in the security section from the sidebar for the User, and within the Operator controls -> General -> Security for admin keys.

‍

With the key generated, both Admin and User must define the particular scope of that key using the Read and Write options. These are much as they sound, read access will allow accessing inforamtion for that key scope but only getting it, whilst write access will allow changing the status of the particular key's scope (creating an order, or withdraw for a user, or creating a user in general for an admin, etc.).

‍

With these keys generated it’s possible to interact with the HollaEx Node Library.

‍
With the setup complete (check the docs for the specific setup), scripts can be mae to automate exchange activity.

‍

Creating HollaEx Node Library Scripts

With either the user or the admin, the API key and secret are the ‘key’ to creating scripts. (All?) Scripts follow a similar structure, such as below: 

‍

‍

On line one in this script we import the HollaEx Node Library, following this the generated API keys are placed in the relevant points in the hollaex object, along with the URL of the exchange in question with '/api' added to the end, and will give access to specific accounts and functions they have been generated for.

With these two sections complete the next is creating the particualr srcript to carry out the desired goal.

‍

Some Example Scripts

With the extensive list of functions, let's consider some potential use cases:

‍

User Scripts

User scripts can deal with checking specific information about the user, or public exchange information. To this end reading the API docs there is a whole host of ‘get’ functions such as getTicker() which will retrieve ticker information for a given on-exchange pair. 

‍

For something a bit more involved consider an example ‘chain’ of logic a user could conceivably want to carry out and have running on their machine:

‍

Perhaps a user believes that if the price of one asset, A, reaches a certain point, it will have a negative effect on another asset, B. 

‍

To do this they want their script to be monitoring this asset A (using getTrades), and if the reading of this price hits a certain point, to automatically create a specific order (createOrder) for asset B. If the order is not filled after a certain period, however, they may assume their forecast was wrong and want to automatically cancel the order (cancelOrder).

‍

By creating this script and allowing it to run, this user has used their own API key, which they granted read and write access to, the ability to act in their place automatically.

‍

Admin Scripts

As mentioned before admin scripts give access to the whole range of functions, so example scripts may focus on exchange-wide tasks, rather than specific trading goals (also the admin can always set up these as well).

‍

An example may be an operator who has a website linked to HollaEx, such as a main information page about their project. This operator may have users sign up on their main site but simultaneously want an account to be created on the exchange as well.

‍

Luckily for them, they could embed this logic into the signup form of their main site, by utilizing the Hollaex node library, and the createUser function. This means the user would have two accounts (for the main site and the exchange) and have only had to do the work of one sign-up.

‍

This logic could be furthered with the updateExchangeUser and createExchangeUserWallet functions, again embedded in main site forms, but interacting with the exchange seamlessly behind the scenes

‍

Here are some more quick ideas that could be implemented with a admin key:

• Detect large trades or trades and notify the operator, keeping in loop for any significant activity
• Find the largest traders on the exchange and reward them with discounts (removing this discount if trading volume drops) or use stats from outwith the exchange (perhaps social media engagement), reward users with discounts
• Extract data and create visualizations of exchange statistics
• Integrate with the HollaEx Plugins, and use data to create whole new pages for the exchange
• Sending emails to users, when specific activty on their account occurs.
• Check out this page on the docs for some copiable scripts for even more advanced situations.

‍

Interacting with the API gives a method of advanced interaction with HollaEx exchanges (only for Crypto Pro, Fiat Ramp or DIY Boost) and the wider network and with the newly added admin API key generation in v2.6 accessing this functionality is easier than ever. 

‍

Lastly, if you are looking for more HollaEx admin API information there is a YouTube video below covering a host of possibilities for creating scripts. The video shows script examples and how to access Dev mode, as well as a quick example of this quick editing ability.

‍

‍

For more information check out the docs, and be sure to discuss your ideas with other community members over on the Discord developer board!

World's First Crypto Exchange App Store -- Develop and Sell Your Own Plugin Apps for Crypto Exchanges

‍

Introducing the HollaEx Exchange App Store - the newest way to level up your cryptocurrency exchange! It's like the Google Play Store and Apple's App Store, but for exchanges! Designed specifically for exchanges and their unique trading needs. With both free and premium plugin apps available, you can add extra functionality to your exchange and take it to the next level.

‍

‍

Whether you're a seasoned exchange operator or just starting out, the Exchange App Store has got you covered. You can browse and install approved plugins with ease, and even develop your own to sell to others. 

‍

‍

HollaEx Exchange App Store

With the Exchange App Store now live, you can enjoy an improved operational experience when adding your own Plugin Apps. When you see the blue admin panel, you know you're in the right place to access the 🆕 HollaEx Exchange App Store where you will now see various types of new Plugin Apps, with more to come in the future. Some plugins require a higher level subscription plan, whilst others can be activated for free.

‍

‍

The payment type plugins currently available (details of each below) are ‘One-time activation’ plugins, with ‘Subscriptions’ and ‘Credits’ payment type plugins set to arrive in the near future.

• One-time activation: Requires only a single payment for the Plugin App and it is yours forever, as long as you run the exchange
• Subscription: Each month/ week etc. you will pay a fee to use the plugin
• Credits: Loading your account with credits that are consumed as users of the Plugin App, for example for each user processed through the automatic KYC Plugin a credit will be consumed.

‍

‍

New Plugin Apps

In addition to the store, HollaEx has released a few new plugins, including the CMC (CoinMarketCap) plugin app that makes it easier for exchange operators to integrate their exchange into CoinMarketCap where all popular coin prices and exchange listing are.

‍

‍

Plus, existing plugins like the "Automatic KYC" and "Advanced Referral" have been upgraded and improved.

‍

Developing Plugin Apps

As an exchange operator, you, or your team, can now develop and sell your own Plugin Apps on the Exchange App Store. This gives you the flexibility to get the specific functionality you want for exchange, all while offering an opportunity to earn income from your creations, and help other exchange operators enhance their platforms.

‍

For the devs out there who want to investigate creating, and benefiting, from plugin creation, the best place to start is, as always, the HollaEx Docs. In addition, the YouTube channel is regularly updated with walkthroughs to guide through the processes from the Docs.

‍

‍

The Docs start with a quick walkthrough that will take a matter of minutes to complete, that will outline the creation of a simple plugin, both the front-end, back-end and installation on to the exchange. 

‍

Hopefully seeing how easy the basic steps are, will encourage you or your team, to get stuck in and create something brilliant!  

‍

Once you’ve created a unique plugin app you can reach out with your new creation to get it listed with your price tag on the HollaEx Exchange App Store and start earning!

‍

Monetizing a Plugin Apps

When developing your own Plugin Apps, you can monetize them in various ways. For example, with One-time Activated plugins you’ll just need to set the price once, explain what the plugin does and then earn away!

‍

In the future there will be ‘Subscription’ payment type plugins that can earn recurring income from subscribers to the plugin. Also, ‘Credits’ Payment Type plugins, that charge upon the usage of the plugin so that frequent usage of a credit based plugin has a chance to gain passive income over time.

‍

For developers who have developed a plugin app and want to list it on the HollaEx Exchange App Store, they can reach out to the HollaEx team with the details of their app and the price they would like to list it for. However, please note that one’s app must meet the standards for quality, security, and performance and thus will require a review process before an app is listed. Once an app is listed on the HollaEx Exchange App Store, it can be accessed by paying exchange operators of the HollaEx exchange platform, providing valuable exposure.

‍

Buying a Plugin App

Buying Plugin Apps has never been easier! Simply click buy on any plugin directly on your own exchange’s Operator Control Panel and it will guide you to the Billing page, where you can select your payment type, and confirm the plugin purchase. The plugin will then be available to install or activate back on your Plugin App page.

‍

Future User Activated Apps

In the future, users will be able to activate their own Apps for their account, further enhancing their exchange trading experience. These apps will be directly connected to some plugins.

‍

‍

A user activated app that is coming soon is an improved Referral App which gives the users more insight into how much income each referral has generated for them.

‍

Another coming app will help provide a different view on the user’s wallet and balances. The app can show different data such as the profit and loss of the wallet over time.

‍

‍

User self activated apps are a good way to give your users more control over their trading account and are great for expanding the functionality of your crypto exchange business.

‍

Visit the World’s First Exchange App Store for Crypto Businesses

HollaEx’s Exchange App Store is not only the first of its kind, but is the perfect place to find and develop Plugin Apps for your cryptocurrency exchange or to sell to others. With more plugins and features to come, the possibilities are endless. So, start your own exchange and visit the Exchange App Store today and see what all the fuss is about!

HollaEx has come out with a new website, with a new blog and a new look, and with only 2 months left in 2021 it came just in time. The new and improved HollaEx site will cover all the open-source crypto infrastructure related materials and progressively roll out content to help budding exchange operators, coin creators and tokenomic projects.

Before we get into what is new in HollaEx, let's cover what has been going on in the industry. First, Bitcoin prices have made a comeback and touched new all time highs. Not to mention the HollaEx Token price also claiming new highs at $0.33.

The timing of ATHs couldn’t have been more impeccable with the newly launched US bitcoin ETF (BITO). This ETF has been pretty much 10 years in the making, going back to the Winklevoss twins who first floated the BTC ETF as far back as July 2013! Unfortunately, the twins were beaten by ProShares, but no doubt an BTC ETF all round is still a big win for the entire industry that will be sure to push Bitcoin closer to the mainstream.

2021 has also brought on significant progress for decentralization with many bitcoin miners making an exodus from China. Now what was once a concentrated industry is now more spread out all thanks to yet another China ban.

To add, thanks to the migrations of miners out of China the energy sector seems to have adopted the mining technology. Could further involvement from big energy help contribute to decentralization? Who knows but one thing is true, bitcoin mining will likely get more energy efficient with the help of energy producers getting on board.

In other wider macro news fears of inflation seem more real than ever with prices of everything on the up and up, and crypto seems to be taking the brunt of inflation with continued sky high prices, especially in certain countries like Turkey where crypto prices have reached all time highs long ago.

HollaEx in 2021 also saw an increase in adoption and with more people joining the open-source exchange community there is more helpful content being created by the community that can be easily found by simply searching HollaEx in Google.

Some examples of community created content for the Spanish speaking audience can be found in this video review by John Patrick Acquaviva, who was kind enough to explain some of the HollaEx benefits and hurdles.

If you are a non-spanish speaker but want to watch the video, you can always turn on Closed Captions (CC) and click the gear icon, then select subtitles, turn on auto-translate and select your preferred language.

Read on below to find out what has happened for the last several months in HollaEx and the open-source exchange community world.

--

New Site, New Look!

As mentioned the HollaEx website is new and will continue to consolidate information related to the best white-label exchange HollaEx. All dashboard operations have also been moved to dash.hollaex.com.

Along with HollaEx Forums, Discord and the soon to come new FAQ help section HollaEx.com will be the main domain for all things DIY self exchange hosting and coin related.

--

Version 2.2 of HollaEx Kit was released!

Just a little over a week ago a new version of HollaEx was released. This version 2.2 was a long 3 months in the making with many community requested features added. There is now an easy way to add SEO data to your exchange and better ways to add coins and markets too.

Here are just a few of the new features and improvements:

• Lower time-frames for charting added with 1 and 5 minute candles
• Add SEO metadata to get easily found on search engines
• Improvements for adding coin and market to your exchange via blue admin (Operator Control Panel)
• New security features added to make your exchange operations even more secure
• New and improved Quick Trade with side-by-side market data
• And much much more!

To see the full list of feature upgrades visit https://docs.hollaex.com/releases/versions

--

XHT added to The Crypto App

Great things are also happening outside of HollaEx with The Crypto App. A useful free app that includes crypto wallets, tracker, alerts, widgets, news etc. It is one of our favourite apps for watching numbers go up and now you can watch XHT go up too!

After adding XHT and the amount you hold The Crypto App will display in real-time the total value of your XHT. If you add other coins it will total them up as well, giving you the total portfolio balance value you hold. Very useful for those crypto traders and hodlers alike.

All you need to do to add XHT to your app is to go to Portfolio> Tap the + add icon at the bottom of your portfolio list > Select MANUAL INPUT > Open the dropdown > Search XHT or HollaEx > Add HollaEx Token and now input the amount of XHT you hold.

Get it at https://thecrypto.app/ and add XHT and watch numbers go up today!

--

‍

‍

‍

‍

‍

‍

‍

‍

Even more coins and markets!

Recently a few coins have caught the attention of the mainstream. One in particular was SOL, coming out of nowhere. Another was AXS, a gaming based tokens.

HollaEx now has these new markets and coins ready for any exchange operators to add to their own exchange. Operators can now find SOL, AXS, AVAX and LINK markets against USDT and add it through their exchange dashboard under ‘markets’. Just add the coin in the ‘assets’ tab first and go to the ‘market’ add the new market.

Also, LTC and DOGE wallets are now functional for both withdrawals and deposits. Both these coins can be useful fast and low-cost on-chain fee coins for those that do frequent blockchain transactions.

Check out the markets and login to see active wallets on the official HollaEx Pro Exchange.

--

Premium Plugin -- Auto KYC

As originally mentioned on the HollaEx blog, the first premium plugin was added. This premium plugin is designed to streamline the manual process of checking, storing and confirming identity information by utilizing image scanning technology.

The premium plugin is called Auto KYC and does all the KYC work for you. The premium Auto KYC plugin can be activated on your exchange dashboard at https://dash.hollaex.com/kyc

Anyone can build their own plugins for your exchange but stay tuned for more HollaEx premium plugins to come.

--

In the works

Below are just a few things in the works that will come to an exchange near you soon!

OTC Broker

From the beginning HollaEx has always been an orderbook driven platform, but that comes with significant hurdles for niche or younger projects that may not have the market making power to uphold a full orderbook for a new coin. And even though orderbooks should be the ultimate goal there should be alternatives for easier market management and coin pricing. This is what the HollaEx OTC Broker system does.

The exchange operators will only need to pair up their coin with an adequate pricing coin such as USDT and set the price — simple!

The HollaEx OTC Broker will drastically reduce computing resources and thus drive down overall infrastructure costs, not to mention reduce operational complexity on operators. Win, win and win.

Smart pricing and sourcing

While still in the early stages there is exploration being done in connecting prices from centralized and decentralized price sources as well as applying smart pricing logic. Prices sourced elsewhere can be fed into the broker mentioned above and can help operators establish reliable prices for their digital assets.

More to come on smart pricing and sourcing over the coming weeks.

--

Closing thoughts

The open-source exchange community in 2021 has definitely grown and is in a prime position to spread crypto infrastructure to where it is needed most. For those looking to get more information on how to start just here, or read on below.

To learn how to get an exchange up and running fast search HollaEx on YouTube. For detailed steps visit the docs at http://docs.hollaex.com/

If you’d like to do your part for the exchange community or if you happen to be a developer you can simply run your own exchange by downloading the exchange kit from GitHub.

If reading long blogs is not your thing you can instead add HollaEx Telegram and get only the major updates as they happen. Alternatively, you can stay in the loop by following HollaEx Twitter.

For fun memes and general content follow HollaEx Instagram and Pinterest.

For the more technically gifted or for those that want to get behind the scenes of the open-source exchange community then joining the HollaEx Discord channel and the HollaEx forums is the best way to go.

And lastly, if you have skills and feel you can contribute to the open-source exchange community you can try out the HollaEx quiz. Answering correctly could also win you 100 XHT!

HollaEx is Integrating Chainlink Price Feeds to Bring Trusted Price Data to White-Label Exchange Solutions

HollaEx is excited to announce that we are integrating the industry-leading Chainlink Price Feeds to support our white-label exchange solution. Chainlink Price Feeds are open-source, decentralized data feeds that provide users with real-time financial market data in a fully transparent and highly reliable manner—well suited to HollaEx’s open-source exchange. By integrating Chainlink Price Feeds, clients building their own exchange solution through the HollaEx tech stack can incorporate Chainlink Price Feeds to give their users trusted global benchmarks on various cryptocurrencies and other asset types—ultimately improving the decision making of its users and enabling advanced use cases in the future like limit orders.

‍

We chose to integrate Chainlink because it is the industry-leading price feed solution for decentralized and centralized finance projects in the cryptocurrency industry. Chainlink Price Feeds are time-tested in production and already help secure tens of billions of dollars in value. Chainlink Price Feeds use a decentralized network of nodes to source from numerous premium data sources, leading to price data with wide market coverage and strong assurances around uptime and tamper-resistance.

Aggregated Price Data for HollaEx Exchanges
HollaEx is an open-source exchange network platform that helps developers quickly go to market by offering white-label exchange solutions. Developers can use HollaEx to set up a wallet-connected exchange platform that already hosts popular cryptocurrencies such as Bitcoin, Ethereum, and USDT. HollaEx provides a complete RESTful API for developers that allows full access to all the functionalities on the exchange, as well as support for websockets that give real-time updates. Clients can also build and launch their own tokens directly on their exchange solution.

An important aspect of trading on exchanges is having reliable price data. While exchanges built from the HollaEx tech stack will have price discovery within the exchanges through buying and selling of assets, it’s important to have an understanding of the wider crypto markets, particularly through a volume-adjusted average across all exchanges in order to avoid poor decision making in potentially new, low liquidity markets.

After reviewing various solutions, we selected Chainlink Price Feeds because they not only provide high-quality data, but do so in a transparent manner without single points of failure. This brings a whole new set of features to our users for a superior trading experience. Some of the other notable optimizations of Chainlink Price Feeds include:

• High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks.
• Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion. 
• Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
• Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.

“Establishing built-in support for Chainlink Price Feeds will enable developers to provide their users with real-time market data reflective of an aggregate across all trading environments, leading to a better overall user experience,” commented Ali Beikverdi, CEO of HollaEx. “Chainlink Price Feeds has become the industry-standard across DeFi and increasingly CeFi, making it the ideal benchmark for users to compare their trades against.” 

‍

About HollaEx
HollaEx is the best exchange software kit that allows anyone to create markets, coins and have them added to your website HollaEx is more than just a white-label exchange, it is an open-source crypto kit that connects your business to the blockchain world.

Learn more about HollaEx by visiting HollaEx.com or read the documentation at docs.hollaex.com. To discuss exchange technology and other developer related issues with your exchange join the HollaEx Discord, or reach out to the community of expert exchange engineers on the HollaEx forum.

‍

About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

The murmurs are true, more DeFi features have come to fruition on HollaEx. You can now find token staking, and for those DIY operators out there, a brand new subscription called ‘DIY Boost’.

‍

This version takes the power of DeFi, the best of CeFi, and packages it in an easy-to-use crypto tool called HollaEx v2.3.

Read on to get the details on all the major updates below!
‍

‍

A quick reminder to check out the new HollaEx 🎥 YouTube channel where the best white-label content lives over here.

‍

‍

XHT farming 👨‍🌾 staking

Once upon a time, we farmed bank deposit interest rates. Today, we stake tokens.

‍

Staking is just another way to farm rewards from using your crypto and it is now possible on HollaEx Pro stake page.

‍

How does it work? Like any other staking system the more tokens and more time you stake (AKA lock), the more XHT rewards you shall receive.

‍

Stake XHT, receive XHT. Visit the XHT stake page and start HollaEx Token farming today!

‍

For those that want to unstake (unlock) early, they can do so at any time, bearing the 10% slash on the principle (the amount of tokens you originally staked), plus forfeiture of any rewards generated.

‍

More details on the XHT variable reward rates and other staking information will be coming soon on the HollaEx FAQ page.

‍

‍

DIY 🔥 boost

Now the exchange experts can take their DIY platforms and boost them! What does that mean? In summary, all the locked features found in the freeware version (DIY) of HollaEx can now be unlocked without having to use the cloud.

‍

This allows DIY exchange operators to remain on their current setup and saves them from dealing with a new cloud model.

‍

Click boost to active powerful DIY Boost exchange features such as more Fiat Controls and reduced revenue sharing.

‍

More information can be found on DIY boost by simply logging into the HollaEx dashboard and clicking the blue boost button on the billing page.

‍

‍

🛒 OTC broker deal desk

This is where it gets good! Your very own OTC desk. OTC stands for over-the-counter and means you can create your own deals and prices for your assets.

‍

‍

OTC systems work well for new tokens that have no price history because operators won’t have the overhead of dealing with an orderbook. Orderbooks are inherently difficult to manage because there are multiple price levels, whilst the broker OTC only requires the management of a single sell price and a single buy price — simple.

‍

For example, imagine you have a token you want to offer called ‘ABC’, this token has never been bought or sold before and you want to price it in USDT. You can begin doing this by offering this to your user base at a fixed USDT price that you set and your users will be able to buy the token from the easy-to-use Quick Trade interface.

‍

‍

OTC systems are designed to provide a straightforward pricing experience and reduce complexity in market-making operations. However, in order to do this, all OTC sales must be sourced from the operator's own crypto liquidity. The operator must set the account from within the exchange that has the liquidity (crypto inventory). Both the sell and buy-side are sourced from the operator's own wallet — not the networks.

‍

One advantage of the HollaEx OTC desk system is that an unlimited number of markets can be created for free, so long as crypto the operator can meet any liquidity demands from his/her markets!

‍

‍

🗝️ Exchange API keys 

‍

‍

To unlock the true power of the network we’ve added a ‘main key’ which allows your exchange to access the HollaEx network. There is also a standard exchange that is safe to share while easy to revoke without the risk of exchange deactivation.

‍

‍

The standard exchange key works similarly to regular crypto exchange API keys. They allow developers and advanced traders to build programs/applications like trading bots and trading tools. Check out this video on how to transfer funds through the network or how to create orders on the orderbook via the network.

If you have a team of developers you can generate a new ‘Standard’ key and share it with them and give your developer more flexibility to build applications for your platform without compromising on security.

‍

These keys allow for programmatic access to reading wallet balances, trading, and even withdrawals (use with caution). Keys can be further secured by only allowing usage of the keys only through whitelisted IP addresses you provide. Revoking keys can be done at any time.

The HollaEx white-label exchange kit will also include a similar API key system with more comprehensive key management and can be used by your advanced userbase using your exchange. These API keys can be used to setup trading bots, algorithms and can even assist the market management required for new coin or token marketplaces.

‍

‍

📧 Email Templates

Sending test emails to check if your email system is working has been added. There is even a way to customize the default email templates provided.

‍

‍

To send a test email, you can go to ‘General’ and ‘Email’, here you will find the ‘Email configuration’ for the email service that you are using. At the bottom is a ‘SEND ADMIN TEST EMAIL’ text link button that if clicked will bring up a pop-up asking which email to send the test email to. Once clicking ‘confirm’ a test email with the title ‘Test Email Config SMTP’ will be sent. Be sure to search that email in your inbox.

Exchange operators can also customize their own email templates under ‘Customize emails’. First, a language can be selected, then email type, and then the HTML content of the email will be shown in the box below with an ‘EDIT EMAIL’ text link button.

‍

‍

While editing, if a mistake was made or you simply want to start from scratch, there is a ‘RESET TO DEFAULT’ text link that will reset to the original state.

‍

Note, when editing emails it is important to leave the dynamic areas like ${api_name} and ${name}, these are areas will automatically fill with the user's information and other data.

‍

‍

🖤 Blacklisting (Geofencing)

We may try, but sometimes you just can’t service everyone all of the time. This is where geofencing, AKA blacklisting can be useful. Simply select the region of the area you’d like blocked and all IPs originating from that area won’t be able to access your platform.

‍

Geofencing can be easily turned on or off at any time from the Operator Control Panel > General > Security page..

‍

‍

📐 Custom Layout

Everyone has a preferred trading style. Some like large charts, while others want more visibility on their orders. Each pro trading tool on the screen can be repositioned and resized so that you can get your layout just right.

‍

Other minor improvements have been made to legibility. For markets with a lot of leading zeros, they will now have a lower contrast which will make for easier number scanning for large/small amounts.

‍

‍

Previously, the active order tool panel would show every order but now a filter has been added for users to select what they want to see. This should reduce the clutter when trading on multiple markets at once.

‍

Lastly, there is a brand new tool called the Depth Chart which you can read more about below.

‍

‍

📊 Orderbook Depth Chart 

Like other crypto platforms, you can now find a depth chart tool within the pro trading interface. The depth chart is a useful tool for analyzing buy and sell walls and for deciphering the size of orders on a specific market in a visual way.

‍

How do depth charts work? They simply add up all the orders from both the buy and sell side of the orderbook and displays the data in a line graph with a colored filled area representing the mass of the orders. As you hover on the depth chart the ask or bid amounts are calculated and displayed as a total up to that price level.

‍

The depth chart can also be 🔍 zoomed into by simply clicking and dragging on an area you’d like to focus on more.

‍

⚡ Improved feedback animation

Orderbook and public sales tools in the Pro Trade interface now show more visual feedback. For example, when orders are added or removed from the orderbook it will now flash in a strong visual way to indicate a change was made to the orderbook.

‍

The same flash effect applies when sales have occurred on the public sales tool (time of sales).

‍

Lastly, minor improvements have been made to mouse hover feedback and loading effects for key areas such as user crypto balances and markets lists.

‍

🧮 General UI refinements

Various minor improvements to the UI have been made to increase visibility and readability by increasing font sizes and color contrast in key areas such as prices and other trade data.

‍

Coin/token icons have also been added to tables and other important list areas in the hopes of making dense data areas more easily recognizable at a glance.

‍

‍

‍

👷 In the works

📝 Add a new section to a page

Wouldn’t it be nice to add a new section to a page? Perhaps you want to add a crypto promotion in the form of a banner? Maybe you want to list some key features? Well, soon you will be able to easily do that via the code-inject console.

‍

Work is being done so that anyone can add a new section (space) on certain pages on their exchange. These new sections can include text, graphics and will only be limited by the HTML skills of the exchange operator.

‍

For those without HTML know-how, a few basic code templates will be provided that can be copied and pasted, and with a few changes, graphics and custom text can be displayed.

‍

HollaEx 📱 app

We haven’t forgotten the app version of HollaEx. We know certain countries prefer mobile apps over the browser/web experience if only due to phone hardware limitations. Apps can offer a more efficient mobile experience which is why a HollaEx app version is in the works. Stay tuned!

‍

As a side note, others have managed to create their own app version of HollaEx, read more about it in this thread. A great example of HollaEx being open to major customizations.

‍

‍

‍

Until the next HollaEx update 👋

HollaEx 2.3 has it all. Simply, upgrade your exchange in your dashboard if you are using a cloud exchange, or simply go to GitHub to get the latest HollaEx Kit and start your Web3 journey today!

‍

If you want to see a working example of the HollaEx white-label exchange kit software in action then visit HollaEx Pro. It has fully functional onboarding, deposits, withdrawals, trading, and uses all the mainnet blockchains. Simply sign up, login, and take it for a test drive today!

‍

To find out what other powerful Web3 and DeFi features have been added to the HollaEx you can check out the release notes at https://docs.hollaex.com/releases/versions.

Introduced in HollaEx update 2.3, the OTC broker allows buying and selling assets at fixed rates, defined by the exchange owner, improving convenience and speed of use for your users.

‍

‍

What is the OTC Broker?

The Over-the-Counter (OTC) Broker, gives you and your users the quickest and simplest way to trade on your platform. Transactions that take place using the brokering service don’t require the use of the public Orderbook and have less reliance on the HollaEx network. Instead, these Broker transactions take place entirely within your exchange leading to an increase in transaction privacy and reducing required computational power. 

‍

Currently, the OTC Broker uses static pricing; buy and sell prices are defined by you and do not change over time, thus users who wish to carry out a trade know exactly what they will get, and what it will cost them. This behavior differs from the Orderbook, as due to its nature of real-time price fluctuations, the deal the user executes may change from what they had originally intended.

‍

Setting up pairings does not require any donation of XHT, so long as the asset was previously added, an unlimited number of deals can be set up via the OTC Broker, and best of all setting these up is completely free. 

‍

‍

How Does It Work?

With this new feature, your quick trade now has two means of completing trades, defined by the exchange operator on a pair-by-pair basis: 

‍

• Without setting up any broker deal, the exchange’s default behavior on the Quick Trade tab is to use the orderbook, as was the case before v2.3.
• If a Broker deal is set up, the behavior of Quick Trade changes. With it, static pricing is set up between the asset pair. The instant that this broker deal is removed, the pair will return to using the orderbook price. If paused, Quick Trade will display that the broker is unavailable.  

When setting up an OTC Broker deal, instead of sourcing funds from the shared crypto liquidity pool of the HollaEx network, the Broker will instead use the inventory of a ‘Source Account’, and the wallet associated with it. Watch these videos about HollaEx's OTC system on YouTube to learn even more.

‍

This means that when users desire to complete a trade using the OTC Broker an account (the source account) under your control will supply and receive the assets that are to be traded in the deal. This circumvents entirely the HollaEx network and thus keeps the entire trade within the confines of your exchange.

‍

In regards to transaction fees, the OTC Broker will use the same rates as you have defined in the Operator Controls. 

‍

‍

Why Use OTC Broker over the Orderbook?

If you already have been running your exchange for some time, or are new to HollaEx, why go through the effort to change from what is already working? Or should every trade on your exchange now utilize this new OTC Broker, instead of the Orderbook?

‍

The reasoning behind what choice of method for your trading pairs to use should depend on what your goals for each trading pair will be, taking into consideration the traits of each method.

‍

‍

Ease of Use

The main draw of OTC Broker is in its simplicity. Both for users, and for you as the exchange’s operator, removing the need for the more involved maintenance required in managing orderbook-based trades.

‍

Static pricing makes the transaction more similar to a traditional shopping experience users will be familiar with. Your exchange offers an asset and the user trades a fixed amount of another asset in return for it. This differs from the orderbook process, where using the Pro trade screen could be intimidating for users unaccustomed to how it works.

‍

By offering the simplest possible avenue of trade for your users, you can ensure that all the possible obstacles are removed, creating the most seamless experience possible.

‍

Of course, though, these novice users will not be the only customers you want to interact with within your exchange. More experienced users who are used to the constantly updating dynamic prices that are a foundation of cryptocurrency and expect to be able to take part in these types of markets. For those such users, and the pairs that benefit from this more traditional behavior, the Orderbook method remains.

‍

Pricing

As mentioned previously, one of the main differences is that the OTC Broker will use a static price, although dynamic pricing will be available in future updates.

‍

One of the clear advantages here is that by implementing this simplicity, price premiums can be implemented for this speed and convenience, allowing creation of profitable opportunities by setting sell prices above the orderbook average and buying prices lower. 

‍

‍

In a more stable currency, static pricing may be beneficial ensuring for both you and your users a fixed price, where both parties know exactly what will happen. Also, if you are offering a new token you may want to start it off at a fixed value, giving it a stable base to begin upon, assisting in the process of price discovery. 

‍

However, for other, more well-known pairs, such as BTC or ETH, the dynamic pricing sourced from the orderbook may be the way to go. For example, if a coin were to take off in value, both you and your users would want to be able to take advantage of this fact and static pricing may adversely affect this. 

‍

These issues emphasizes the importance of considering whether any given pair on your exchange will benefit from static (from the OTC) or dynamic (from the orderbook) pricing. This decision that is left to you.

‍

‍

Where to Set up an OTC Deal?

Setting up a deal with OTC Broker is almost as easy as a user trading with one. From the operator controls on your exchange, the OTC Broker tab found under assets has all the controls for setting up and editing current OTC Broker deals. For a greater level of detail on creating and configuring deals, check out the HollaEx documentation. or this video.

‍

‍

Hopefully, now you have some ideas of where your exchange would benefit from using this new method of trading and are excited to get started. The new stuff doesn't end there though, update v2.3 is a mammoth release for HollaEx and contains all sorts of new ways to improve your HollaEx exchange. Check out this newsletter to learn more. 

‍

‍

You have your token (or at least the idea), now how do you best offer it to the world?

‍

‍

In any quickly evolving industry, there is significant advantage to being an early adopter. In no field has this concept been made more clear than in crypto. The dramatic increase in interest in crypto is self-evident and what used to be a somewhat niche interest of the technically minded, has exploded onto the stage and into all layers of society worldwide.

‍

Alongside this new enthusiasm for the growing industry as a whole, there has been a corresponding increase in the desire to directly take part in these markets, through the creation of new tokens and coin pricing. What was once the domain of the technically minded has now spread to those who are new to the concepts.

‍

Fortunately, in the modern crypto space, a multitude of tools have been developed to allow the creation of new tokens and coins. Of course, a new token is of little use if it has no means of distribution and this is a hurdle that any entrepreneur must eventually surmount. The question then remains, what is the best method to tackle this problem?

‍

Launchpad Sites 🚀

As the name suggests Launchpad sites, such as Pink Finance offer the opportunity to get in on the ground floor for new cryptocurrency opportunities. A primary benefit of these sites is their focus on new tokens, allowing them to be listed and traded before more established exchanges may be willing to host them. This focus on new currencies makes them a natural first stop for the entrepreneur trying to gain an initial market for their tokens.

‍

Furthermore on top of this discovery service, many of these sites, such as Guarda and CoinTool, actually offer the capability of easily creating new tokens, meaning the potential obstacle of technical know-how is overcome with a simple input form. 

‍

However, one issue of this launchpad method is missing out on potentially the most exciting, and certainly, the most newsworthy element of crypto markets, that being the absence of dynamic pricing. This process of ever changing values is known as the ‘price discovery’ process, which the launchpad method misses out on, with the price being static on its listing.

‍

Exchanges

Exchanges, such as Coinbase  and Binance, are among the most prominent sites offering crypto services. By making the process of getting involved in crypto as easy as buying any other product online, exchanges offer a familiarity of use to new users, creating a greater sense of trust. Nevertheless, this ease of buying currencies has not transferred over to the ability to list your own currency on them. 

‍

Whilst there are clear advantages to having your crypto listed on an exchange, the price discovery process being a major example, there do exist hurdles that could impede your listing. Many exchanges require an established history of the currency or large payments before allowing new tokens to be traded.

‍

Getting past these issues may not be the end of your issues either, as due to the exchange taking complete control over all listings they may not give your currency the place you feel it deserves, keeping it away from the front page and therefore away from the potential customers you want.

‍

Controlling the Exchange

With these discussions it can be seen that these options do offer the capability to begin a journey into crypto with your own token, however, it is clear that there are obvious setbacks. How then can the benefits of both token launchpads and exchanges, in regards to coin creation, be obtained; utilizing price discovery, access to customers looking for new and innovative tokens, as well as the features present on modern exchange sites? 🤔

‍

Fortunately, there exists another method that would, initially, seem completely unattainable. By setting up your own exchange, third parties can be circumvented, offering complete control over your newly created currency, and the market it lives on. In the past, this would be a mammoth undertaking that would require large amounts of resources — both financial and human — that are completely out of reach for all but large and dedicated teams.

‍

Now, however, through the use of white-label crypto tools the barrier to entry has been brought so low that you could have a crypto exchange up and running within half an hour, requiring nothing more than your computer and some time. 

‍

White-label means the ability to create an exchange, and then personalize many aspects of it, from the currencies you desire to trade in, right down to the specific visual flair that will make your brand stand out. ✨

‍

Using HollaEx, and setting up an exchange gives you control over the environment of your newly created ERC20, BEP20, or TRC 20 token, as well as bringing all the benefits of hosting your own exchange on top, taking no more effort than a few input boxes, and best of all, requiring zero background in computer science. 

‍

Once the exchange has been created and deployed you will have all the benefits of running an exchange and can market your token front and center of the site, such that any visitors will be drawn to it, as well as now taking part in the price discovery process allowing your coin to gain value as its demand grows.

‍

‍

Summary

Creating a new crypto token or coin is not the final step in getting into the crypto market, once this process is complete, there is a consideration on how this new asset will actually be marketed and traded.

‍

There exists various options that can be pursued by the entrepreneur each with its own benefits and drawbacks, and each entrepreneur must make the decision on what they deem most suitable for their asset, to achieve the maximal possible result. ‍

‍

‍

Open-source solutions like HollaEx, offer new and innovative approaches to the above problems, and with DIY options that won’t ask for anything out of your (physical or crypto) wallet 👛, there has never been a better time to give this new avenue a go.

‍

‍

Entering the world of running an exchange can seem intimidating but through the use of white label solutions, such as HollaEx, this process can be assisted with these 10 easy steps. 

‍

Effectively bringing together the many individual pieces, required in the puzzle of exchange management, will help ease the path to success. But what are these elements? This guide seeks to break down 10 of the primary steps to ensure that you are aware of, and can act on them for the benefit of you, your exchange, and your users. 

‍

‍

1. Exchange Setup 👷

If the eventual success of your exchange is the destination, this point is the first step out the door. Without the initial groundwork, all the benefits hence are not possible. But the coding of a fully-fledged exchange is not for the faint of heart, entire teams and vast resources are surely required to get to this point? Fortunately, this is no longer the case.

‍

Through the use of white label solutions like HollaEx. Your exchange could be set up within the hour of you reading this sentence, without having to write a single line of code, with the quality assurance that comes with a dedicated team, and established track record.

‍

2. Domain 🌐

With the setup done, now it's time to open your exchange to the world. When registering your domain, ensure to put thought into this name, something short and catchy will stick in the mind of your users far better than a long, forgettable one.

‍

3. Wallet 👛

This is the beating heart of your exchange, where assets are stored, deposited, and withdrawn. Again this aspect requires expertise and knowledge to ensure your users can rest easy knowing their assets are safe and secure. 

‍

Fortunately, again it is possible to outsource this work to tried and tested solutions, and often a wallet system will be included when starting with HollaEx's white-label exchange, without requiring any additional setup. HollaEx exchanges come bundled with ‘Vault’ wallets, allowing your users to generate multiple addresses, and know that the technology as been tried and tested.

‍

‍

4. Trading Engine 📈

The constant activity of buying and selling is what makes crypto markets so engaging to be a part of, and create profitable opportunities. These markets engines need to walk a fine line between presenting adequate, up-to-date information, whilst being easy for users of all skills levels to understand and interact with. 

‍

An important aspect of these engines is ‘price discovery’, the process of dynamically obtaining the value of a given asset in real-time, something that is vital for users to know, and understand where this price has come from. There are different ways to price your token or coin and is worth researching the options such as an OTC or an orderbook pricing system.

‍

5. Liquidity 💧

Liquidity, the total amounts of assets accessible by your exchange, can be very tricky for new exchanges to generate. The ‘chicken or the egg’ problem can arise, where users are hesitant to store their assets, as they can’t trade, and thus nothing is deposited further perpetuating the problem. 

‍

One method to solve this crypto liquidity issue is by new exchanges linking together their assets in a shared pool, this is the method that the HollaEx Network uses, ensuring that all exchanges have the access to the shared resources they need to succeed.

‍

6. Customization 🎨

This can be among the most tricky aspects to approach as a new exchange owner, creating an eye-catching, appealing brand and interface is not a simple task, requiring coding knowledge alongside a small amount of artistic flair, to create the aesthetic that will attract, and keep, users on your exchange. 

‍

White label exchanges that can provide a variety of means to customize your exchange ensure that any exchange owner can create the environment they desire. HollaEx, for example, allows for various levels of control, from simple, menu-based controls over colors and graphics, right down to directly affecting the source code of the exchange itself. 

‍

7. Users 👥

A party is no fun without guests and exchange is no fun without users. The issue remains that in the modern web space, potential users expect ease of use throughout their experience. Again this is an issue that can be overcome by allowing others to do the hard parts of developing efficient onboarding and security measures, such as Know-Your-Customer tools. Opening a forum or a community is also a good way to help manage users by sharing content in an open way.

‍

8. Communication 💬

Another important aspect is letting your users know what is occurring with their account, on your exchange, as well as in the wider crypto world. Communication is key to this whole process, through notifications, emails, SMS, blog and so on. In particular, users will appreciate being notified of deposits and withdrawals, letting them know the progress of their trades.

‍

9. Administration ⚙️

The ability to monitor and affect your exchange is vital to its success. Better tools will allow for more productive administration, imparting the knowledge of what is happening, and what needs to be tweaked. 

‍

As the exchange grows this task can become too large for a single person to deal with effectively. For this reason, the delegation of these tasks to trusted individuals becomes essential.

‍

The admin interface should also how for the crafting of tokenomics systems and other DeFi related areas such as staking and reward and token distribution methods.

‍

10. Help ℹ️

Problems are inevitable, and within the tech world, this is particularly prominent. Helping users is a key element in building up trust, and satisfaction with your exchange. 

‍

Assisting users can be carried out in a variety of ways, from hands-on customer service to more general static assistance such as emails or announcements. It is possible to outsource these concerns to third-party services such as Zendesk or Freshdesk, again minimizing time spent on these aspects, and thus more on building your exchanges profitability. 

‍

And of course creating useful content for areas (videos. blogs, etc) such as sign up and other commonly used functions on your platform.

‍

Summary

These 10 steps are by no means exhaustive, but hopefully, with them, you will be able to lay down the foundations of your exchange, ensuring it is built upon a solid base and can be built up to even greater heights. 🚀 For advanced we recommed reading about coin listing and how it works on the popular websites out there such as CoinMarketCap and CoinGekco.

‍

Coin listing sites are an invaluable tool to get your coin the attention you want it to have. They can act as an effective way to draw potential customers window shopping for new opportunities. However your coin should have at least some pricing history.

‍

Sadly getting your crypto asset onto such a site is not as simple as making an account and sending off a form. These listing sites have individual criteria that must be fulfilled, but there are some general guidelines that will assist you in getting listed and bring the biggest benefit to your asset. 

How Should You Begin? 🤔

Listing your coin on a platform is the first step and HollaEx is a great place to start. Coin listing sites like CoinGeko and CoinMarketCap first require that the coin be listed on an exchange or even multiple ones at that. Even smaller coin listing sites follow the same general rule.

‍

Before listing your token or coin, it is wise to get your exchange platform fully up and running, website and all. Coin listing sites will first review to see if the platform your coin is on is a legitimate price source and they do this by looking at the work put into the platform. Professionalism is key, and a good example of an exchange putting in the work can be found here. Note all the supporting dedicated information page links provided in the footer.

‍

Ultimately, what is being looked for is what we could term ‘proof of work’ (separate from the PoW in crypto), showing the time and effort that has gone into the exchange your coin is listed on. The legitimacy of your asset will be tied to the legitimacy of the exchange it exists within, so ensure that this initial investment is taken seriously. 🔨

‍

White label software is an option that is worth delving into as this initial step is a task in itself. Fortunately, in recent years with the rise of cost effective white-label software in the crypto space, this initial work hurdle has been lowered significantly. Tools like HollaEx allow you to set up your own exchange, one in which you can be assured of having professional standards.

‍

Through these tools you can place your coin front and center, generating the activity that will assist in your listing application. 

‍

Luckily, once this proof can be shown, there are many other price listing websites to list on, don’t limit yourself to a single option once you are confident in your proposal:

‍

• https://coinpaprika.com/
• https://digitalcoinprice.com/
• https://cryptoratesxe.com/
• https://advfn.com/
• https://awebanalysis.com/en/coin-details
• https://thecrypto.app/
• https://cryptocompare.com/
• https://www.livecoinwatch.com
• https://coincodex.com

‍

- And many more!

‍

‍

Yes, I’ve listed it on my exchange and/or others! What’s next?

Here are a few things you can do after you’ve set up your platform and coin:

‍

• Once your coin is on a listing site it will be ranked by default by trade volume. To ensure your listing isn’t resigned to the dusty back corners of the listing sites trade volume is key. If volume can’t be sufficiently sustained, the use of a market-making service can help to lift this volume, and thus your eventual listing ranking. ⬆️

‍

• Request that your coin/token gets listed for trading on the official HollaEx Pro exchange.

‍

• Get your coin on alternative coin listing sites and exchanges, more listings mean more views, more eyes = more buys. 👀

‍

• Potential customers won’t want to invest in a project if it appears dead or somewhat near it, so ensure to keep activity high. This could be done through social media platforms but can also be done through regular blog posts, progress reports, partnership announcements, and even videos. In addition to this current activity, historical data online showing a solid record of your asset will be hugely beneficial.

‍

• Generate a history of on-chain transactions on the blockchain. In particular, DEX platforms can supplement this transaction history, thus assisting in convincing coin listing websites to look upon a project, coin, or tokenomics more positively.

‍

Nothing is working! What else can I do?

So you’ve hit a wall. Don’t panic, there are plenty of other avenues open to you. It is important to note that generally when it comes to dealing with these coin listing websites it is a good idea to reattempt only if you’ve made large amounts of progress. 

‍

Keep in mind that listing sites are likely to receive a great number of listing requests constantly. A single, strong proposal will be looked upon more kindly than a multitude of incrementally improved ones. Come back with strong evidence of progress with clear links and easy-to-review data.

‍

• Does the coin have an orderbook market yet? If not, HollaEx is a good place to get one going.
• Some coin listing sites require that you get in touch with them and even have a personal call. If you have this opportunity it is best to have all your materials ready to share links and evidence of work.  In other words, the ‘proof-of-work’ mentioned earlier.
• Providing API links from your own platforms with the necessary docs.
• Have an easy-to-access coin info page with a market list that shows your relevant information on your platform's digital assets all accessible without having to log in. The market list could be located on your homepage or somewhere else, easily located.
• Team up and create partnerships to list your token on other platforms.
• In parallel with centralized platforms, try listing on DEXs.

‍

Consistently working on your platform and your coin’s price, liquidity, and presence in multiple markets is the best strategy.

‍

All Done! Or is it?

As with all worthwhile ventures, the work won’t be finished once listed. Now that you have your own platform and coin, it is time to partner up. For example, your token or coin’s logo can now be properly verified and added to blockchain explorers and countless wallet portfolios apps, not to mention the many new crypto apps made daily. As with all things the greater your input, the greater your output. 

‍

‍

Wrap Up

At this stage, focus on that first step towards your goal. Listing on an exchange is the keystone that allows all the other necessary elements mentioned above to fall into place. For this reason, give this a good deal of thought, and consider the use of white label crypto tools to lower your entry barrier, allowing you to get on the road to success as soon as possible.

‍

When it comes to server 🖥️ management there can be a lot of technical upkeep and seemingly obscure hardware and software dependencies. This is especially true if you are a newbie to hosting and server.

‍

Suffice it to say, it can get complicated, and if you’ve never heard of Linux, Docker, or JSON Parser there is a good chance you will be taking a good part of a day or even a week to gather all the necessary know-how to start your own DIY HollaEx exchange…what a bummer.

‍

But there is good news! With the new AWS HollaEx pack, experts and newbies alike will save themselves a lot of stress and can enjoy an even more streamlined exchange creation experience. The HollaEx AWS is a nicely packaged solution on AWS Marketplace, it means less time tinkering – more time HollaEx exchanging!

‍

Read on below to learn more about HollaEx on AWS Marketplace.

‍

What is AWS?

Simply put AWS is a cloud platform that allows anyone to host things like websites and applications on Amazon’s server machines. Amazon will take care of all the hardware, and operating systems technicalities.

‍

AWS is big, it helps countless businesses behind the scenes around the world and is a trusted solution by professionals, enterprises, and crypto platforms alike.

‍

What is the AWS Marketplace?

The AWS Marketplace is a curated and qualified list of partners (like HollaEx) offering their software to AWS Customers. It is an online software store that helps customers find, buy, and immediately start using the software and services by running it on AWS.

‍

‍

In short, AWS Marketplace is a shortlisted digital catalog that manages third-party software like HollaEx to host and build solutions and run their businesses.

‍

Visit the profile of 👉HollaEx AWS here, or alternatively DigitialOcean.

‍

Who is it for?

It is for anyone looking to run their own DIY exchange. If you as an exchange operator want more control over your data and don’t want to manage your own server machines then outsourcing it to a data center is a perfect solution for you.

‍

DIY operators for HollaEx DIY Basic and Boost are the perfect target audience for HollaEx AWS.

If you are just starting out and want to test the HollaEx system out on a budget then using HollaEx AWS is a fine choice. As AWS includes many of the tools needed to get you started on your online business journey.

‍

What are the advantages?

For experts that are already in the AWS ecosystem, you can now enjoy using all the familiar AWS CLI terminal tools you know and love and is sure to save time for even the most experienced user.

‍

If you are just starting you can save days of setup, all you need to do is follow the HollaEx docs. The HollaEx AWS package will include all the software prerequisites like Docker, Docker Compose, and hardware requirements so that you can go live with your crypto blockchain platform in minutes at extremely affordable prices.

‍

How do I start HollaEx on AWS?

You can read more about getting started with AWS here or simply jump right into it by creating an account on 👉AWS here.

‍

After creating an account, log in as a root user. Once you are in, proceed with your account activation which will require adding a payment method. After that, you will be given access to AWS products and services for free! You can learn more about the free AWS tiers here.

‍

Once you’ve hit subscribe on HollaEx AWS page you’ll then see a blue ‘Continue the Configuration’ button in the top right corner of the page.

‍

Once you click the ‘Continue the Configuration’ button you will be taken to a Configure this software page where you can select your Amazon Machine Image (AMI) and other config details.

‍

‍

Next, you can select the instance which can simply be a t3a.large (read all about t3a’s here).

‍

Once you’ve set the HollaEx software instance it will be automatically created on your own machine in an AWS data center!

‍

‍

The HollaEx instance information can be checked through the EC2 console afterward.

‍

You can then connect to your instance with an SSH command. Just open your terminal and change the directory with the command cd and type the SSH command.

‍

Once all is said and done, you'll soon find yourself with your very own DIY crypto exchange on AWS!

‍

First time DIY exchange operators will be operating a 'Basic DIY' exchange, which is the freeware version of HollaEx. DIY Basic exchanges still enjoy liquid markets and still have the ability to connect their domain name however some functionalities will be restricted. Operators seeking more functionalities however can at anytime upgrade to DIY Boost which includes powerful features amongst them a fiat system and the ability to remove the HollaEx referral badge.

‍

Note, that for team and businesses compositions DIY management of servers may not be efficient, in this case the HollaEx cloud exchange plans are a great solution. Cloud exchange plans come with automatic exchange deployment and includes the secure exchange server management. Cloud users also can enjoy the ease-of-use through the cloud HollaEx dashboard hosting page found at https://dash.hollaex.com/hosting.

If you are already an AWS customer visit 👉HollaEx AWS page and hit that yellow ‘Continue to Subscribe’ button!

‍

The Future

Stay tuned for more prepacked HollaEx servers!

If you are new to HollaEx or just want to start as fast as possible then going to your exchange dashboard and selecting a prebuilt cloud exchange plan is the most straightforward solution that skips all the server and technical details above.

Want to see the HollaEx software in action? Just visit HollaEx Pro or simply watch our videos on the ▶️youtube.com/c/HollaEx

Markets are going wild — they tend to do that. In times like this, it is best to build and soldier on! That’s what the exchange community has done and continues to do every week. With each new week comes newly added coins and markets.

‍

These new markets aren’t just for traders on the HollaEx Pro exchange but for budding entrepreneurs who are running their own coin platforms. With HollaEx, operators can offer more and more crypto services to their customers with just a click of a button.

‍

The way it works is that weekly, on Monday, activated coins will be added to the HollaEx Network for anyone to now freely add to their own exchange. This may come with market liquidity for the major trading markets but in the case of new coins, they will simply be added as an asset on the wallet page. Adding these assets will allow for global deposits and withdrawals for that asset and is the beginning of any coin creator’s community.

‍

The great thing about adding custom coins is that it only requires a donation of 10,000 XHT. This XHT donation will be distributed to XHT stakers. This token donation is the bedrock of how HollaEx’s tokenomics system works (Learn more about what tokenomics is here), and is designed to cut the massive overhead plaguing coin listing practices today.

‍

With that all said and done, not everyone can afford to donate which is why HollaEx is allocating 1 million XHT for coin activation!

‍

To kick things off APE, PAXG, SAND, and MANA are the first additions using the 1 million XHT and have already been added few weeks back. These coins will include liquid markets and can be added to your own crypto exchange in a matter of seconds! To add these new additions to your exchange simply go to your exchange’s Operator Control Panel, navigate to the market page and click the green ‘Add Market’ button – easy.

‍

Now comes the fun part! On all HollaEx social media will be a link shared where anyone can vote for the next coin to be added to HollaEx. If you feel that a coin should be part of the HollaEx system then follow us on HollaEx forums Discord, Twitter and Telegram and cast your vote today!

‍

Once votes have been collected the coin with the most votes will win and part of the 1 million XHT will be used to activate that coin on HollaEx for others to add.

‍

Roughly every ~2 weeks a new vote for the new coin will be made public on all HollaEx social media.

‍

Anyone can check the ‘Release’ channel on HollaEx Discord to see, in real-time, which coins were successfully added to HollaEx.

‍

As a side note, the million XHT allocation will follow the exact same tokenomics procedure which means stakers of XHT will be indirectly rewarded a portion of these incoming XHT coin activation donations! We’ll just leave this right here https://pro.hollaex.com/stake👀

‍

But what coins are going to be selected for voting? Simply put the larger coins via market cap and trading volume will be the bases for the preselection of coin options to vote upon. However, suggestions of what to add to the voting pool can be made in the feedback channel, so long as the coin isn’t obscure anyone will have a chance to add their coin of choice to the coin voting pool.

‍

Calling all exchange operators! 

‍

‍

What are you waiting for? Your vote matters! This is your chance to get that much-awaited digital asset added to your own crypto exchange.

‍

Participate in the first coin listing vote 👉here.

HollaEx is happy to announce that Polygon (MATIC) blockchain has been integrated!  One of our goals is to be a multichain platform leader. Polygon helps improve Ethereum and sovereign blockchains by making them fully-fledged multi-chain systems, it only makes sense to integrate!

‍

What is Polygon (MATIC)?

Polygon builds and connects Ethereum-compatible blockchain networks. This means more scalability on Ethereum by supporting a multi-chain Ethereum ecosystem.

‍

How does it do this? Polygon processes transactions off-chain before finalizing them on the Ethereum main chain and plans to support blockchain interoperability – a multi-chain system.

‍

Why did we choose to integrate Polygon?

The Polygon blockchain alleviates things like high gas fees and slow processing speeds and is one of many systems that are working on a multi-chain system and can be thought of as similar protocols to Polkadot, Cosmos, Avalanche, etc, but with one major difference. It is Ethereum-centric and plans to ride off of Ethereum’s network effect which may lead to better security in the long term.

‍

This means we are welcoming any projects using the Polygon chain to launch their platform or token with HollaEx, so don’t hesitate to get started at HollaEx.com

‍

What does this mean for HollaEx users?

All exchange operators will now be able to add Polygon network assets. This will follow the same process as adding an ERC-20 Ethereum token or TRON asset.

‍

‍

Operators looking to add Polygon assets can do so in their HollaEx dashboard or their own exchange’s operators control panel (AKA, the blue admin toolbar).

‍

For HollaEx Pro traders will also be able to trade the native Polygon asset called MATIC. There will be active deposits and withdrawals as well as a MATIC trading market.

‍

Note that when depositing/withdrawing Polygon on HollaEx Pro exchange there will be network options for both the native Polygon network and the ERC20 Ethereum network as illustrated in the screenshot below.

‍

‍

About HollaEx white-label

HollaEx's mission is to be the single-stop exchange creation platform. While the current white-label exchange landscape is costly and difficult to use, HollaEx aims to allow people to achieve their crypto business success by simply allowing them to start their own exchange online on their website.

‍

It’s easy to 👉start and if you’d like to see more about what HollaEx is about you can check out our social media on Twitter or Telegram.

‍

Prefer to watch and learn? Check out our videos on YouTube at ▶️https://www.youtube.com/c/HollaEx

‍

For a deeper dive, view the home of the best white label at HollaEx.com

🖥 Server management can get complicated. Even running a basic website from your own computer could take you time and then keeping it up with the various hardware issues can be a consistent battle. Which is the reason why we have services like DigitalOcean.

‍

We are happy to announce that now there is a DigitalOcean 🌊 HollaEx pack, so that both experts and newbies alike will save themselves a lot of stress, and can enjoy an even more streamlined exchange creation experience, reinforcing the HollaEx goal of making exchange ownership as simple as possible.

‍

HollaEx on DigitalOcean provides a neatly packaged solution on the  Marketplace, meaning less time tinkering and more time 'HollaExchanging!'

‍

Read on below to learn more about HollaEx on the DigitalOcean Marketplace.

‍

What is DigitalOcean?

Simply put DigitalOcean is a ☁️ cloud platform allowing anyone to host things like websites and applications on DigitalOcean servers. DigitalOcean will then take care of all the hardware, and operating systems technicalities.

‍

DigitalOcean is a cloud computing vendor that offers an Infrastructure as a Service (IaaS) platform for software developers. DigitalOcean is very popular with open source developers offering a great alternative to Amazon Web Services (AWS) and Google Compute Engine. 

‍

It is commonly said that the advantage of using DigitalOcean is its ease of use, developer-friendly, practical, and predictable low-cost server solutions.

‍

What Is the DigitalOcean Marketplace?

The DigitalOcean Marketplace allows developers to easily discover and quickly launch services, components, and tools from open source projects.

‍

The DigitalOcean Marketplace is the home for Droplet 1-Click Apps, Kubernetes 1-Click Apps, and SaaS Add-Ons. 1-Click Apps are pre-built Droplet (explained more below) images and Kubernetes apps with the software, features, and configuration details already set up for you.

‍

Visit the HollaEx profile on DigitalOcean here 👈. 

‍

Who Is It for?

It is for the operators that want to set up their own DIY exchange. But more specifically for DigitialOcean, it is a cloud system targeted to small developers and small businesses who need to quickly start up a small high-performance instance. DigitalOcean also gives the user a clean, easy-to-use interface with fewer features and one-click deployments.

‍

Operators using the HollaEx DIY Basic and Boost are the perfect target audience for HollaEx DigitalOcean and if you want to test the HollaEx system out in a low-cost manner then using DigitalOcean HollaEx is a sound choice.

‍

How Do I Start HollaEx on DigitalOcean?

You can read how to get started with DigitalOcean here or simply jump right into it by creating an account on 👉DigitalOcean here.

‍

‍

👉Click the above blue DigitalOcean badge to get $100 free credit! Or simply click here.

‍

When you create a DigitalOcean account, you can choose to sign up with an email address, with Google, or with GitHub single sign-on (SSO).

‍

Once you’ve created a DigitalOcean account, you should protect it with device verification by default. This only applies to email and password sign-ins without 2FA and does not apply to GitHub or Google SSO.

‍

After you create an account you can proceed to HollaEx hosting page and click ‘Create HollaEx Kit Droplet’.

‍

‍‍

What's a Droplet?‍

DigitalOcean Droplets are Linux-based virtual machines (VMs) that run on top of virtualized hardware. Each Droplet you create is a new server you can use, either standalone or as part of a larger, cloud-based infrastructure.

‍

What Else?

If you are new to HollaEx or just want to get started as fast as possible then by going to your exchange dashboard and then selecting a pre-built cloud exchange plan your exchange could be up and running within the hour without having any technical setup on your part, even the simplified version that DigitalOcean offers!
‍

‍

Want to see with your own 👀 eyes how it all comes together? Check out the many videos on the▶️YouTube HollaEx Channel or simply see an example of how your future exchange could look at the live HollaEx Pro exchange.

‍

HollaEx v2.4 — Fiat Controls

The best white-label crypto exchange HollaEx Kit has been upgraded to v2.4.0. This release includes improved management systems for fiat assets & much, much more!

Everyone loves a good decentralized story, however this HollaEx update is all about the CeFi!

‍

v2.4 combines the best of both worlds to provide the ultimate white label exchange business experience by empowering the Cloud Fiat Ramp (previously ‘Fiat Master’) and DIY Boost users with a new dedicated Fiat Controls page.

‍

For a super short summary of v2.4, visit the release notes page.

 👇 To get to the good stuff read on!

‍

‍

Fiat On and Off Ramping 💸

‍

‍

Decentralization (with a captial D) is an essential ingredient for blockchain financial systems, however, centralized systems will always have their place. This is why the newest addition to the white label exchange software is the ‘Fiat controls’ page. It is the defining feature of v2.4, and allows the exchange owner to easily add their own on-ramp (for fiat deposits) and an off-ramp (for fiat withdrawals).

‍

‍

On the Fiat Controls page are advanced tools, only accessible to the upgraded exchanges on the two highest level plans; DIY Boost and Fiat Ramp.

‍

This feature has been designed to support businesses that may already have existing payment providers that they would like to use in synch with their exchange. For example, a PayPal or regular bank account.

‍

Previously, an on-ramping (depositing) system would have to go through a long and intensive integration process. Now, payment details, such as a PayPal email and /or the operator's Bank account details (SWIFT code, account number, etc) can be added and then displayed to the user in the designated deposit page.

‍

‍

‍

When a user uses these public payment details to make a deposit the exchange operator can check if the deposit has arrived in their bank account (or other payment account) and can then proceed to credit that user's account balance. The user will be then notified that their deposit is complete and they can then trade with their newly credited funds.

‍

‍

‍

This works in the same way for off-ramping (withdrawals) but instead, the user can share their own payment account details and once the user requests a withdrawal, the admin can reference that user's payment details and send the fiat currency to that user.

‍

These fiat settlements are thus handled outside of the exchange and accounts within the exchange have their fiat assets manually updated via the mint and burn function. The main purpose of Fiat Controls is to create an environment to more easily synchronize what is happening inside the exchange with what has happened outside.

‍
Confused? That’s okay, in due time, walkthrough guides will be added to HollaEx Docs and the YouTube channel.

‍

Although much of the v2.4 fiat functions mentioned above are focused on manual fiat functionality, there will be coming automated fiat payment services that can be much more easily added via the plugins marketplace soon. However, integrations for automated fiat ramping systems are available at cost (integration services are included in the Fiat Ramp plan) and require access to a fiat provider APIs.

‍

‍

Transfer Funds Using 📧 Email Addresses

Transactions between users on the same exchange internally or network-wide have always been free and instant, however, this was handled through regular crypto addresses which are difficult to identify and remember.

‍

To make fund transfers simpler the withdrawal page now includes an ‘email’ transfer method and means exchanges and their users can now share their emails with one another within the exchange or HollaEx Network and obtain simple, instant, and free fund transfers. This could be particularly useful for internal business transactions, meaning admin staff have a clear way to send funds around. Meaning regular banking middle men can be cut out completely.

‍

‍

‍

‍

New Landing 🏠 Home Page Sections

The landing page now comes with a new horizontal scrolling price card widget, to let your users be in the crypto know from the moment they land on your site. This new widget can be added by entering the operator edit mode, clicking the blue gear icon on the right and turning on the ‘Moving ticker cards’.

‍

‍

‍

In addition to the new price widget, the backgrounds now comes with more customization options. Multiple graphics can now uploaded for different parts of the landing page.

‍

Removing background graphics have also been improved and upon doing so will reveal a flat theme color.

‍

Gradient graphics, animated gifs, and transparent graphics can be combined to create various styles. Gradients graphics for example when properly applied can create a simple but effective design.

‍

‍

‍

‍

💹 Smart Charting

Charts are now smarter and will now remember all changes. For example, drawing trend lines, adjusting zoom levels, candlestick timeframe preferences, and even colors are now stored in memory for each individual crypto market. This means traders can draw up different trading plans on the BTC/USDT market, while drawing up a separate trade strategy on say the ETH/USDT market chart.

‍

‍

‍

This is effective for businesses that have a more serious trader userbase that want to pick up their trading exactly where they left off with the visual track record directly on their charts.

‍

‍

‍

In addition to drawings, candlestick and background colors will now be stored in memory. To customize colors simply right click on the chart and select the gear icon labeled ‘Settings’.

‍

‍

‍

🐞 Bug Fixes, Stability Improvements

Miscellaneous stability improvements, and bug fixes have been applied to the OTC broker system and other areas.

‍

‍

🏷️ Cost Adjustments

Along with the big v2.4 update will come new prices for both the Cloud Crypto Pro plan and the DIY Boost prices.

‍

In addition, the fiat-based subscription has been renamed to ‘Fiat Ramp’ to align with many of the new v2.4 fiat upgrades included now in that package.

‍

Visit HollaEx.com pricing page to learn more.

‍

‍

👷 In the Works‍

Simpler Automated 📧 Emailing

Activating an automated email on HollaEx today requires a setup outside of the exchange and involves multiple steps. This can take a few hours for those that have never dealt with it before, but soon this experienced will be greatly improved through an built-in email system that can be set up mostly within HollaEx.

‍

‍

📝 Fiat Payment Processor Plugins

As mentioned earlier the more powerful plugins for on/off ramping will be available on the exchange plugin marketplace.

‍

Ramping plugins will be orientated around fiat currency management, particularly for automation of fiat deposits and withdrawals which will be available as a premium plugins.

‍

Note, all fiat currency functionality requires a DIY Boost or Fiat Ramp subscription.

‍

‍

Until the Next HollaEx Update 👋

To experience v2.4 simply upgrade your exchange via the HollaEx dashboard and visit your exchange’s Operator Control Panel, or if you are new to HollaEx (Welcome! 🙋‍♂️) head over to the exchange dashboard setup to get started.

‍

Lastly, for anyone on the fence about running an exchange there is a live running platform HollaEx Pro that can be used and reviewed. HollaEx Pro supports live trading and is a working example of the HollaEx white-label software in action.

‍

‍

–

‍

^{Are looking for help with your DIY exchange?
Join the HollaEx exchange builder community on Discord and forums.}

‍

Less is more — controversy!

Not unlike religion or politics at the dinner table, never mention block size to a bunch of bitcoiners.

‍

Nowadays, calling for smaller blocks is sure to spark controversy. Bitcoin struggles to scale, how could shrinking the block size fix anything? 

‍

Counter-intuitive to say the least.

‍

Yet, there’s some sense to smaller blocks. With far less data within each block, checking for transactions on the blockchain would become easier, and it is smaller and thus easier there would be more parties checking and verifying blocks as a whole. The bitcoin blockchain could even be in theory even more trustworthy.

‍

From a philosophical perspective, moreover, smaller blocks are aligned with Bitcoin’s decentralization ethos: the more active participants such as exchange businesses and users verifying transactions, the higher the network’s resilience.

‍

A smaller block also makes transaction propagation simpler in a sense because only transactions within that small block will matter and because the block is small it will make validation simpler, your crappy phone could in theory participate in the validation, and the spread of that transaction across the peer-to-peer network — propagation — improves the overall integrity of the blockchain.

‍

Who doesn’t want that? A more decentralized and resilient Bitcoin blockchain? Read on for the specifics of smaller-sized blocks on the Bitcoin blockchain!

‍

How small?

The champion for small blocks Luke Dashjr gave bitcoiners back in 2019 between August 1st and December 31st to vote on small blocks. If the majority of the nodes at that time agreed, a soft fork in favor of smaller blocks will occur.

‍

“This patch would enforce a very simple soft fork, reducing Bitcoin block sizes to ~300kB”, the Bitcoin Core developer explained on Twitter. At less than one third of the 1MB limit, these small — or lighter — blocks would facilitate block validation, while curbing the overall weight of the BTC blockchain.

‍

Was it the right time to go small?

Interestingly, it wasn’t the first time the concept was flaunted by the Bitcoin Core developer. Back in January 2017, Luke Dashjr had proposed a BIP (“Bitcoin Improvement Proposal”) requesting the block size to be decreased down to 300kB. At the time, though, his motion had been shrugged off. However, there were two sets of circumstances that helped smaller blockers to gain traction one last time back in 2019.

‍

Node-dive

The number of active nodes on the Bitcoin network has been decreasing.

‍

Short reminder: two types of nodes allow users to connect to the blockchain. 

‍

–Fully validating nodes (aka full nodes), verify each transaction in new blocks. Unfortunately, these nodes are costly and difficult to run.

‍

–SPV nodes (for “Simple Payment Verification” aka lightweight nodes) are easier to operate. But, the latter has two limits: they latch onto full ones to access the blockchain and they accept the blocks’ transactions without verifying them.

‍

From 2019 to 2020, none other than Luke Dashjr warned the number of full nodes dropped from 100k to 37k. The node has never recovered back above 100k, remaining at 46k today. This kind of dip is concerning since the fewer full nodes there are, the higher is the risk of network corruption. In fact, if the number of full nodes keeps on dipping, lightweight nodes might one day have to resort to centralized services to connect to the Bitcoin blockchain. Even today there are a lot of node services because managing a node, particularly non-bitcoin nodes for other chains, is impossibly expensive, money and time-wise.

‍

As explained by Blockstream’s strategy chief Samson Mow in a Hard Fork article, the stake in block size is that of network decentralization: with prohibitively heavy full nodes, the network would eventually crystallize into poles around data centers.

‍

Lightning on the horizon

The biggest concern around smaller blocks is arguably the fees. If blocks are small, then the competition to get your transaction on the blockchain will be fierce and the only way to discern who gets in and who has to wait is to give the right of way to those that pay more fees. Miners handle this and will almost always select transactions with larger fees. Smaller blocks also will mean longer wait times for those that don’t pay enough fees.

‍

The rebuttal to this high fee and slower transaction times entailed by small blocks is obvious: let’s move more transactions onto another layer, onto the Lightning Network.

‍

Far from denying the losses entailed by smaller blocks, Bitcoin developers agree that the adoption of the second-layer solution will offset them.

‍

Quick to support Dashjr’s proposal, Bitrefill’s John Carvalho inspired others to do the same. The adoption of the Lightning Network was one of the reasons Carvalho cited as a curb to soaring blockchain fees.

‍

The timing of the proposal may have played a role in convincing some. Internet entrepreneur dubbed “Bitcoin Oracle”, Vinny Lingham, who used to be rather neutral in the block size debate, switched sides to Dashjr small-blocks side.

‍

‍

Luke-warm Supporters

Aside from those, like Roger Ver, who wholeheartedly rejects small blocks, crypto experts agree that Luke Dashjr is technically correct. But, they don’t think switching to smaller blocks is as cut and dry.

‍

The dip in the number of full nodes, for one, might be addressed without resorting to smaller blocks. The fraud proofs patch, for instance, means to bridge the gap between lightweight and full nodes. If a full node

detects an anomaly in a block to be validated, it would emit a ‘fraud proof’ as a warning for the rest of the network to orphan the block.

‍

It is worth noting that, while addressing the overall security risk, fraud proofs do not shore up lightweight nodes’ security to that of full nodes.

‍

‍

Blocked by consensus

Ignoring all the technicalities, the issue with adjusting Bitcoin’s block size is actually human. Being a public chain, being a public good, and being open to all means Bitcoin requires a lot of heavy duty consensus. A majority of its participants have to agree to the changes.

‍

Unfortunately, many Bitcoiners are reluctant to change due to the turbulent crypto business history. Just like the question marks clouding the Y2K in the late 90s, the unknown unknowns of a structural change deter any major changes — Nobody wants another Bitcoin cash variant.

‍

Conclusion

In a 300kb nutshell, limiting the size of the blocks will simplify the verification process. The more people can contribute to validating blocks, the more reliable, resilient, and decentralized the network could become. But small blocks might make it difficult for conducting businesses (especially in the case of exchanges) to manage long and unknown confirmation times.

‍

Regardless of block size, network resilience hinges on the authenticity of every single transaction. On-chain congestion would be a short-term trade-off for small blocks to ensure the sustainability of the network and store of value.

‍

As the debate fizzled out in favor of keeping the blocksize at 1 MB, we can see that the biggest roadblock was simply human consensus and free of change. The tech was there, and the theory made sense, the application, however, remained elusive.

‍

Swaying mindsets is much harder than patching code, and maybe that’s okay. In hindsight, it seems immutability is Bitcoin’s greatest feature. Because in an unpredictable ever changing world, something unchanging strangely becomes the most dependable and reliable thing in the world.

‍

‍

For more crypto industry and HollaEx news, check us out on 🐦 Twitter.

‍

Will centralized custody solutions save your coins or hurt bitcoin?

If cryptos were digital elements, Bitcoin (BTC) would be the first digitally scarce element.

‍

Because it’s the first, many globally are slowly but surely using BTC as a way to save and store wealth while speculating on the tech.

‍

As a result, storage facilities that hold BTC are becoming important human capital holdings.

‍

Traditionally people would store wealth in old elements such as gold, antiques, collectible items, real estate, art, livestock, and shares in businesses. Most of these are physical assets that have large central custody systems built around them to improve efficiency, security, and access.

‍

For example, buying shares in Real Estate Investment Trusts (REITs) is a highly profitable way to gain exposure to real estate, and all thanks to REITs centralization of custody.

‍

Today, we have a new store of wealth asset called Bitcoin (BTC) which throws a wrench in the long tradition of centralized wealth storage. One reason for that is that BTC is the first digitally scarce asset that anyone can self-custody, meaning we no longer are reliant on central agents to verify that your assets are your assets.

‍

Yet, crypto self-custody does come with risks and a heavy burden of responsibility, here are a few:

‍

1. High chance for human error while securing keys (losing private keys)
2. Cyber attacks (exposing keys online)
3. Incompatibility with inheritance (difficulty to pass crypto on after death)
4. Difficulties for governments to tax their citizens
5. May disrupt lending practices
6. Crypto may encourage the hoarding of wealth which, in turn, may cause an economic slowdown due to poor wealth circulation
7. Difficulty for large institutions to self-custody due to the technical burden and strict regulations imposed on their investment practices

‍

Bit of Old, a Bit of New

If managing and storing your own crypto is riddled with these problems, then it naturally explains why we are seeing a spike in custody services coming online.

‍

For example, Coinbase the number one recommended service for retail clients are managing a gigantic 5% of all Bitcoins.

‍

However, many in the crypto realm would argue that custodians like Coinbase aren’t part of the original utopian P2P vision Satoshi Nakamoto had in mind.

‍

But rarely do utopian visions come true. Including Satoshi’s. Reality tends to play out where the old and the new meet.

‍

Borrowing from the old ways, current crypto exchanges like Coinbase have inadvertently become de facto crypto storage facilities of our time. Crypto exchanges broke the long traditional model that had custodian and trading mechanics separated and instead combined the two.

‍

Having to juggle both the duties of a crypto custodian and that of a trading platform, exchanges have made many mistakes resulting in millions of dollars worth of stolen crypto.

‍

The risks associated with crypto exchanges are now well known and the reaction to this has been on solutions that solely focus on crypto custody only.

‍

The Secret Crypto Stash

Most of these custody-only solutions take the form of quasi-old school institutional solutions, one of which is Xapo. When Xapo first came on the scene many criticized the solution as overpriced.

‍

On the Island of Gibraltar, Xapo bank, the first real crypto bank, is headquartered within an old army barrack.

‍

Why store with Xapo when you can self-custody for free one would ask.

‍

Xapo reported in 2018 it manages 7% of all BTC and there’s a safe bet that figure is well over that today.

‍

Quietly, Xapo has gained the lead, secretly managing the largest stash of Bitcoin in the world.

‍

Grayscale Bitcoin Trust is one client of Xapos and Greyscale has been the only go-to investment vehicle for institutions to gain exposure to BTC.

‍

Greyscale has reported managing over 1% of all global BTC where do they store their BTC? At least for a time, it was within Xapo, but recent news says they have moved to Coinbase Custody. 

‍

Titans Enter the Arena

Nearly half of institutional investors (47%) view digital assets as having a place in their investment portfolios.‍

— Fidelity Digital Assets, Crypto Division Research

When it comes to crypto custody, 2019 seems to be the year when the veterans come to play. With big names such as Fidelity and State Street just beginning to expand their offerings into crypto, we should also see others follow suit.

‍

For example, computer giant IBM has just entered the crypto arena, and we at HollaEx in partnership with DACS have been working on secure and practical crypto custody solutions, combining IBM’s advanced HSM mainframes with our white-label exchange.

‍

Slow Transition Period

Despite all the media hype and name-dropping, the truth is crypto assets such as Bitcoin are viewed by institutional investors like a diamond in the rough that has to be thoroughly polished before any consideration is put towards investing.

‍

“Institutions […] aren’t ready to invest because they’re not yet comfortable with the available custody solutions.”

— Tuur Demeester, Founding Partner of Adamant Capital, Aug 3, 2018

‍

Crypto custody providers are thus wrapping up crypto in a traditional financial framework to make them more palatable for institutional investors.

‍

Though the process is slow, the writing is on the wall, custody solutions are in great demand and once the red tape has been cut, it will garner huge legitimacy for crypto assets and mean the green light for institutional investors.

‍

If all goes well, there should be an influx of new crypto adopters piling into crypto custody providers, which begs the question, what would be the cons of more centralized crypto custody services? Are we coming around full circle?

‍

Let's take a look at some of the possible issues that come with the normalization of crypto custodians:

‍

1. Governments could easily seize wealth through the custody provider
2. Custodians can report on assets making it easier to overtax citizens
3. Big privacy concerns since custodians hold a load of sensitive data.
4. More friction when moving crypto if clients must ask permission from the custody provider (defeating the purpose of crypto)
5. With opaque central storage of cryptos, rehypothecation and fractional reserve crypto banking are much easier to pull off (we already saw this with FTX recently showing they in fact held no bitcoin!)
6. False sense of security through security theater

‍

On top of these issues, custody providers have to grapple with a new reality… Once cryptos are lost they are really lost forever.

‍

Takeaways

Crypto custody comes with its own challenges. If they are ever to attract customers, providers will have to come up with enticing benefits.

‍

Besides strong security, custodians would have to offer other perks such as high interest on crypto deposits, attractive loans, and solid insurance which should make all the difference when attracting clients.

‍

However, with the likes interest bearing accounts from Celsius, BlockFi, Gemini Earn and of course FTX, we all know how they went. Perhaps earning interest on your crypto is a red flag when coupled with a crypto custodians?

‍

In order for the piggy bank to make a comeback, it might need some other special perks like better insurance funds to ease the weary hodler.

‍

Bitcoin was invented as a reaction to these risky ploys and heavy centralization of our financial system, ironically much of the BTC is still stored in a handful of companies.

‍

The takeaway, however, is that crypto is now giving everyone the opportunity to take full custody of their finances, which will hopefully help balance our delicate financial system should it ever go off-kilter again.

‍

For more crypto industry and HollaEx news, check us out on 🐦 Twitter.

Leaving the Paper-Based Economy Behind

‍

‍It is amazing how much we’ve achieved economically thanks to our traditional equity-based system. Thanks to all the accountants and law firms that keep it all squared away and to all the administrative work and stock clearing houses that tell us who owns what and how much.

‍

We’ve come far — but we’ve reached the plateau.

‍

Digitization and automation are how we take equity to the next level. And in this article, we will explain why. But first what is digitization?

‍

In the crypto world when people say digitization it usually refers to tokenization which is just a fancy way of issuing a token to represent something, something like an equity share in a company. Tokens don’t live in a private database instead they are recorded on a decentralized blockchain for everyone to see and use.

‍

This means tokens have the real potential to do equity better because they are much easier to share and void of all the admin mentioned in the intro.

‍

It’s not hard to see tokenomics superseding traditional equity if only for the fact that tokens are truly compatible with the internet.

‍

The most popular use case so far for tokens has been the easy creation and distribution of equity of a company to raise money. Hence the ICO craze of 2017. Today, however, there are major experimentations happening with different ways to approach tokens which we shall get into.

‍

But first, we must understand the current traditional equity system and why it’s limited.

‍

Digital Silos

In short, equity is created with the help of large law firms and heavy litigations to enforce contracts. 

‍

Firms write contracts stipulating who owns what and eventually the company data will be all ‘digitized’ into a system like a CUSIP and/or register in an ISIN which are essentially data silos for company records.

‍

These databases are highly restricted and only a select few entities such as the DTCC will have access to the database for the purpose of clearing all the trades of stock on the NYSE.

‍

For perspective, the DTCC clocks volumes of over $2 quadrillion USD in a year. Quadrillion, that’s a number you don’t see every day.

‍

The bottom line is that the current equity system is super centralized, inaccessible, and relies on select few middlemen, thus creating friction and illiquidity for everyone.

‍

Some of the limitations of our current analog equity system:

‍

🔸High Cost:‍

Getting a company publicly listed on the NYSE costs approximately $500,000. It does not include all the hidden costs along the way in the form of contract formation that can take months to set up depending on the type of business.

‍

🔸Costly Administration:‍

Admin and accounting have to be outsourced and verified and checked by multiple parties to reconcile the ‘who owns what and how much’, ranking up high accounting maintenance cost and time.

‍

🔸Poor Transferability:‍

Largely due to not being compatible with the internet companies lack an easy way to distribute company shares without involving multiple middlemen. This also means global transferability is often costly or impossible. Transferability can also be limited to region/country, effectively region-locking said asset.

‍

🔸Costly Conflict Resolution:‍

If conflicts should arise then resolving them may take long days in court, incurring again ever more time and money. 

‍

These friction points are contributing to the rift going on today between real company valuation versus the actual value of the services that the company provides.

‍

Separation of Equity and Utility

This disconnect going on between the equity of a company and the value of that company’s products and services is one of the major issues with the current system because it’s designed to prioritize profits over creating things of value.

‍

If a corporation’s aims were only for profits, shouldn’t that profit naturally come from building better services and products that are useful to our lives? And shouldn’t that be reflected in the company's share price?

‍

The stock market is supposed to do exactly that, but in reality, the market has become more speculative than some would like to admit.

‍

For example, corporations flush with money often choose to buy back their own stock instead of putting that money into R&D or better employee conditions. This is happening on an unprecedented scale, where roughly 93% of profits made by US corporations in the last decade came from the rising share price of the stocks that they themselves continue to prop up by buying more of their own shares, and collectively these corporations earn more through buying back their own stocks to a collective tune of $4 trillion USD.

‍

‍

That’s a load of value that is not being shared with the public. Also, that’s value not being put towards new ideas, creating jobs, or making the company better.

‍

It isn’t illegal for corporations to buy back stock but we are getting to a stage where it might need to be because it is messing up the valuable signals that prices should bring us, and they are creating a major disincentives for all parties involved that don’t own the stock, the workers for example.

‍

Let’s look at a real example of a mismatch of incentives.

‍

Consider the gig-based companies — Uber, Airbnb, Lyft, and their countless copycats. They not only provide an affordable service to customers but more interestingly, they create jobs in the form of drivers and accommodation hosts that rent out unused real estate and cars. ‘Gig’ works pretty much.

‍

These gig workers keep these companies' economic engine alive, but these gig workers have zero stock in the companies that they work for.

‍

Wouldn’t it make sense if the workers in these internal economies started to own at least a part of the economy they themselves have created? A token of appreciation for their contribution to the ecosystem? A token economy!

‍

A token added to a gig-based economy can work as an accurate barometer of a company’s health because of the token. If no one uses the service the tokens become useless and if they use the service it becomes valuable. Simple.

‍

We have the tools today to better align the incentives of workers in a gig economy but how that’s done comes down to the craft of the tokenomics.

‍

‍

Larry declared both Uber and WeWork to be “almost worthless.” The reasoning behind his thinking is that both companies don’t have a load of loyalty from the drivers and tenants. The workers just aren’t incentivized to stay on the Uber or WeWork platform if a cheaper and more profitable option comes along. They have no stake in the empire. They have no stake in the company.

‍

Point is, these corporations could gain a lot by offering a token in some form because it can really tie people to the success of their ecosystems.

‍

It’s true, companies do issue stock options to employees but in an overwhelming amount of cases, they do not. They do not do this due to all the clunky regulatory framework that’s blocking companies from sharing their own pie.

‍

To make the point concrete, let’s consider the benefits of linking shares of a company more closely to a utility token:

‍

🔹Digital Synergy‍

Since crypto tokens are digital they allow for a load of automatic functions that synergize with the countless digital services that we use today on the Internet.

‍

🔹Superior Accounting‍

Because tokens have temper-proof accounting control systems inbuilt into the blockchain network, it greatly reduces the headaches around ‘who owns what and how much’.

‍

🔹More Accurate Pricing‍

If the utility of the token is well placed into the product, in that it synergizes well with the product, it can provide better pricing for the product along with greater tangibility to the token.

‍

🔹Pure ownership & governance

‍Token holders can store their own tokens in their wallet. Allowing more parties to get involved in a direct way and exercising self-sovereignty. Tokens can also be used as a voting tool to help govern company, product or business.

‍

🔹Global & Transferable‍

Tokens allow for true global value transferability and is much more inclusive than regular old stock shares. This brings greater liquidity when compared to traditional stock which is typically restricted to a country.

‍

🔹Resilience‍

Successful tokenomics create great system resiliency which in turn can lead to the companies products and services functioning autonomously as the network economy grows and becomes self-sustaining. This is very much already the case for Bitcoin as a self-sustaining money system.

‍

Unlimited Token Models

Well-crafted token models will organically lead to community-owned and operated digital services that don’t need expensive litigation to compel honest behavior. Basically, a free market working at its best.

‍

‍

Already there are startups pushing the boundaries of tokenization. Stablecoin for example, where each token say a USDT token is just a proxy for one regular USD. The stablecoin model is arguably the most successful token system but just by a different name. We see the same model replicated with BUSD and USDC. The great thing about a USD tokens is that they operate on the blockchain and thus can be used globally and programmatically. They are also much more transparent, accounting for each token you can check the supply, address, and number of holders on the blockchain right here.

‍

Another simple use for a token is to simply use it to pay for stuff. Any company is already doing this today with points, credits or even things like Starbuck points, these are just tokens that can be used within the system itself. For example, HollaEx a software provider allows users to pay for software using XHT (HollaEx Token) and provides a discount. XHT is also used to activate coins and markets within their software and is an integral part of the HollaEx white-label exchange system.

‍

The possibilities are endless, especially when coupled with your owe exchange, and we are going through a transition period where many of the rules and contracts we have today on paper are slowly being programmed into digital smart contacts and tokens.

‍

There is still a long way to go before we get all the contracts right but it has to begin with business experimenting with tokens. Businesses have to take risks and think of innovative ways to inject tokens into their business model.

‍

Starting a Token

In the early days, people would fork the Bitcoin code and change a few rules and start a whole new token.

‍

After the advent of the ERC-20 protocol, many would launch right away on the Ethereum blockchain as early as possible and try to get listed on as many exchanges as possible, and think about the utility of the token later.

‍

But times have changed, and launching directly on the blockchain can be counterintuitive. A lot can go wrong since token rules can’t be changed once submitted to a blockchain. And getting listed on exchanges can cost hundreds of thousands of dollars.

‍

Instead, a more organic way of starting a token would be within your own exchange system. The history of exchange technology shows the ease of starting an exchange is exponentially getting easier.

‍

At HollaEx we’ve created the tools to start digital marketplaces. HollaEx is a powerful white label exchange software kit that allows anyone to create, add and manage coins and tokens all from their own live-running crypto exchange. Anyone can create their own tokens internally within their exchange. Users of the white label would simply add the token during the exchange setup.

‍

‍

Starting a token within an exchange means there is a marketplace for the token from the get-go and it allows for easy purchasing and distribution of the token because there is an inbuilt wallet for accepting deposits.

‍

Having an exchange system allows for the early stage parameters of the token to be setup first before submitting it to the blockchain, for example, token name, symbol and increments can all be set within the exchange setup.

‍

‍

HollaEx essentially kills two birds with one stone. One, it allows the token to be created which means early marketing and promotion of the token can take place. And two, it allows for a marketplace to develop around the new token thus avoiding expensive listing fees and long negotiations with other crypto exchanges.

‍

HollaEx is the ultimate token and marketplace creator. To find out how to start your own exchange and token today visit our website or arrange for a live demo.

‍

For more crypto industry and HollaEx news, check us out on 🐦Twitter
To trade the HollaEx Token (XHT) visit HollaEx Pro Exchange.

What are exchanges?

‍They are places for sellers and buyers to meet and agree on an exchange of a good. But what’s interesting about exchanges is that they have grown so abstract and big and inaccessible. The infrastructure built around exchanges have largely been left only to institutions and governments to participate, manage and control.

‍

In this article, we will demystify the exchange and show why we think recent advances in technology have changed the exchange model. We will explore how the exchange has become much more open and free for anyone to build and run their own digital marketplaces, their own exchange.

‍

Depending on who you ask the origins of the exchange can go back as far as the 1200s on a bridge in Paris. However, the consensus on the internet says that the first exchange was started in Amsterdam in 1611 by The Dutch East India Company — unsurprisingly the largest company in the world at the time, valued at over 7 trillion dollars by today’s value.

‍

Many countries followed suit, marking the beginning of the institutionalization of exchanges. Despite mass adoption, participating in the exchange was largely left only to powerful and vetted individuals, marginalizing most of the public from the profits inside.

‍

Detailed is a timeline of how trading exchanges have evolved:

‍

‍

‍

As we can see from the timeline, exchanges in recent times have evolved rapidly thanks to computers, the internet, and now open public blockchains and their digital assets. But the basic concept remains — Exchanges are just gathering grounds (digital gathering ground today) for buyers and sellers to meet.

‍

Still, when people think of exchanges, what first comes to mind is the New York Stock Exchange (NYSE) and the NASDAQ which have become inaccessible and complicated places.

‍

‍

‍

Both of these exchanges combined are valued at $39 trillion USD. For perspective, the next biggest stock exchange down is in China, valued at a measly or not so measly… $5.9 trillion USD.

‍

Exchanges are gigantic. Economies are literally dependent on them and because of this interdependence, they are ruthlessly protected and regulated. This protectionism has made it unthinkable to open an exchange because of the extreme costs and complex procedures that one must go through.

‍

But change is slowly occurring — exchanges are no longer only for special places that men in suits control.

‍

There are now countless exchanges globally, and some of the crypto exchanges boost larger volumes and activity than some countries own national exchanges. The truth is competition approaches from all directions and today a single motivated individual can now launch their own trading empire from their bedroom.

‍

How is that even possible? To answer that, we must tell the story of how crypto exchanges really become a thing.

‍

Back in 2011, an exchange called Bitcoinica launched, an operation based in New Zealand. This little exchange created a huge vipers nest in the crypto ecosystem but was the ultimate catalyst for more crypto exchanges.

‍

Bitconica was a loosely coded exchange website built by Ryan Zhou (AKA Zhou Tong). Ryan spent much of his formative years in Singapore, before coding up Bitconica in New Zealand at the ripe young age of 17.

‍

Fast forward to August 2012, the exchange Bitcoinica was attacked, resulting in 46,703 BTC lost. Today that loss would be valued at $379 million (1BTC = USD $8,120).

‍

At the time of the hack, Bitconica was run by a newly hired hand Amir Taaki from Britain. Amir decided after the hack to leak the exchange code on Reddit under an alternative alias. Amir unknowingly or knowingly gifted the world ‘open-source’ crypto exchange code which resulted in multiple exchanges being opened overnight, all using the faulty Bitcoinica code.

‍

Bitcoinica’s freely distributed codebase demonstrated that there was a feverish global demand for digital marketplaces and for what was only known as World of Warcraft money, Bitcoin.

‍

One such player that noticed the potential was Jean Louis van der Velde a Dutch entrepreneur who, at least initially, built his first crypto platform using the faulty code from Bitcoinica and infamously created what we know today Bitfinex.

‍

Bitfinex got popular but along with that a load of security and scaling issues occurred and thanks to the Bitconica codebase the exchange inherited a boatload of problems and hacks to boot. Urgent upgrades were required.

‍

Bitfinex again outsourced their technology to a white-label exchange provider but failed to integrate the system. Bitfinex did manage to upgrade their technology on their own.

‍

The story of Bitfinex perfectly illustrates the turbulence one must endure to operate a global marketplace but more importantly showed us that it was now possible to run your own exchange operation without permission.

So where are we today? Are exchanges really that easy to launch?

‍

There are interesting exchange solutions out there, the most common of which are the white-label cloud exchange solutions, where you’d just connect a bank account and focus on the operations, offloading all your technology upkeep to a third-party provider.

‍

The other option is a DIY style starter pack, where the exchange technology code is handed over and development can begin from that crypto toolkit.

‍

Much of the open-source exchange code out there is obviously questionable, and we only need to review the history of Bitcoinica to see that but the industry has matured and there are viable options available with significant improvements in security protocols.

‍

HollaEx creating an alternative exchange software

At HollaEx we’ve recently released our own white-label exchange, a quick-launch kit which can be accessed through a command-line interface (or via cloud), once the launch command has been sent the exchange will automatically set up on any computer.

‍

Starting an exchange with HollaEx is simple, with all parts modularized adding a variety of customized components to your exchange can be done inhouse. For operators that don’t have the tech team handy, they can add exchange features simply by installing plugin apps into their exchange.

‍

Streamlined and flexible, the HollaEx comes with the added frontend web client as well as the admin source code, allowing anyone to rebrand their exchange.

‍

HollaEx also includes the means to add customized token and coins. Once added these digital assets can be paired against USDT to create markets so that others can buy and sell the digital assets on your own exchange, which then can be used to build entirely new tokenomics system.

‍

The big advantage is that all the complex logic inherent in exchanges are now a non-issue and allows the exchange operator to focus fully on their business model and generating new profit revenue streams..

‍

‍

To conclude, the global nature of exchanges today are something to take a step back and marvel at.

‍

Still, somewhere, somehow there is a man in a suit who’s gonna make you pay for the privilege of running an exchange. HollaEx’s open exchange kit changes that — In the hands of motivated individuals HollaEx allows anyone to start their marketplaces from anyone on the globe.

‍

As HollaEx’s CEO, Mr. Beikverdi explains:

‍

“HollaEx is built like WordPress. WordPress made websites to create and share. We’ve made it easy for anyone to start their crypto exchange platform on their website.

‍

For more crypto industry and HollaEx news, check us out on 🐦Twitter.

Want to read a long-form version? Read the HollaEx 📄 whitepaper.

Goodbye, 2020. It was good knowing you. That’s probably what you’d say to the past year.

‍

2020 has been nothing short of a bittersweet symphony of challenging events and tough work for everyone. So to conclude the year I’d like to share my thoughts for the year and give a hopeful look into the future and a little about what HollaEx has accomplished.

‍

Tip of the hat 🎩

Firstly, the hard work which crypto has pulled off this year has been nothing but astounding. Hard work matters and we can see why Satoshi himself made proof-of-work the foundational system governing Bitcoin. So let's first tip our hat to that!

‍

In the past year, we’ve seen mass-scale enforcement of work from home, real digital currency usage, government-issued digital currencies, and even a full-blown escape into the digital realm with record-breaking video game play time and entertainment usage. Think Netflix playing in the background while binging on Fornite with your buddies online.

‍

But besides the escape in the digital realm, the year 2020 despite its challenges has proved one thing... Digital assets like Bitcoin and tokens are here to stay. Is this mass adoption? Who knows. But I think we can agree that the virus has only acted as an accelerant of what was going to happen anyway, which is blockchain financial infrastructure slowly seeping into every service we use.

‍

📅 HollaEx in 2020

How did HollaEx fare this year? Quiet well, despite some disruption and turmoil of the economy the last few innings really did turn the tables. Even despite market fears and low risk-taking by businesses we continued to develop our white-label crypto exchange that is HollaEx and even continued to plow resources into our flagship exchange live example exchange pro.hollaex.com which has proved to be the right move as we move into 2021.

‍

HollaEx Pro Exchange

We started 2020 strong with the launch of our HollaEx Pro Exchange on the very first day of the year, January 1st! 

‍

‍

HollaEx Pro Exchange gained organic recognition and got picked up in the industry as a battle-tested live open-source crypto exchange that not only anyone can use like a regular crypto exchange but can be taken and repackaged as their own crypto exchange business. That's the beauty of open crypto tech right there.

‍

The HollaEx Pro Exchange also got picked up by CCXT the kind of FIX protocol for crypto trading. HollaEx added to CCXT allows for an ever-growing number of crypto developers to more easily program bots and other services on top of HollaEx, which was a great start to the year.

‍

‍

HollaEx also got picked up a number of times in the media and continues to be used as an example of what is possible when conducting business with blockchain technology.

‍

XHT Market

The opening of the XHT market and the challenging design of XHT tokenomics this year proved ever more tricky with a depressed economy, however, XHT continued to swim through and made it to the shore!

‍

‍

XHT has been listed on a number of coin metric sites such as Coinhills, CryptoCompare, Coinranking, and The Crypto app. You can learn more about coin listing here and how to create and launch your own coin here.

‍

As more exchanges are learning how to come online, many are required to donate XHT in order to active their tokens on their own exchange. This has proved to be a useful business model and sustainable tokenomics system for XHT and despite market price fluctuations of XHT the laws of supply and demand are in full effect to balance prices for white label added services.

‍

One great thing about utility tokens is their simplicity. And XHT is no exception. Just deposit and the exchange software just works.

‍

As a side note, anyone can freely obtain the token from the open market at HollaEx Pro Exchange.

‍

Vault & DACS collaboration

The bread and butter wallet software that is Vault was given a dedicated mention as a key component of HollaEx’s white label exchange. Vault allows businesses to create multiple addresses and services as multiple customer use cases. It also handles the safe storage of digital assets, and monitors transact on the blockchain for various digital assets.

‍

All good crypto-based projects have a coin management system behind them and Vault has been an unsung hero within the HollaEx ecosystem quietly juggling blockchains and defending against attacks.

‍

To make Vault even stronger we’ve begun collaborating with DACS a digital assets custody solutions provider that specializes in secure crypto custody technologies.

‍

The DACS partnership with IBM and their usage of IBMs secure container mainframe hardware is a rare hybrid of what works with the old and new which is open crypto assets!

‍

Vault DACS will continue to provide ever better battle-hardened crypto custody solutions going forward in 2021.

‍

‍

HollaEx Dashboard — Exchange Setup 🧙Wizard

One of the pivotal plays by HollaEx this year was the release of HollaEx’s dashboard (AKA, Holla Dash). The dashboards major advantage is providing a straightforward step-by-step exchange setup, 5 steps to be exact!

‍

What’s unique about this crypto exchange dashboard is that it takes the mystery out of exchange technology and boils it down to its key components of a domain, coins, and branding.

‍

‍

One of the major hurdles of an exchange is the matter of hosting. Many business-savvy individuals struggle in dealing with domains, servers, and general computer command-line-driven systems. What Holla Dash has done was take out the unnecessary complexity of deploying an exchange by providing a simple built-in domain in a neat cloud exchange package. The cloud exchange option with the dashboard is a low-cost, easy-to-test, rapid exchange system in one and was a breakthrough for HollaEx in 2020.

‍

Anyone can give it a try at dash.hollaex.com.

‍

Let there be liquidity

And god said, let there be liquidity and it was done. One of the toughest parts about running an exchange is not the technology part but the money part! Where does it all come from? How do prices stay fair and stable? Is there enough to go around? These are questions that come to us repeatedly in 2020. So we’ve addressed that by creating built-in liquid markets from day one from when the exchange opens.

‍

‍

Open-source

As many know open-source technology is everywhere, a majority of our servers operate on open-source software, many of our phones run on Android, and your web browser is likely Chrome and that’s open-source too, and now today your money now is open-source with Bitcoin and Ethereum and with that we’ve decided to open-source HollaEx’s white label crypto exchange software.

‍

Anyone can download the HollaEx Kit from GitHub here or they can even fork and contribute to open exchange technology.

‍

HollaEx 2.0

In the new year HollaEx 2.0. will include many breakthroughs that will make crypto business easy.

‍

Some of the things we’ve been working on:

‍

• ☁️ Automated crypto cloud exchange
• 📦 New exchange unboxing experience
• ✏️ Direct edit mode
• 🌊 Liquid markets from day one
• 😏 Smooth operator admin panel

‍

Look forward to these new features in late January 2021.

‍

KoinKoin - Africa's crypto exchange

When anyone talks about crypto they often forget how important it is for countries such as Africa which has a diverse and complicated currency situation with approximately 40 currencies! If any region is in need of crypto it is Africa.

‍

‍

One such player taking on the challenge of Africa is KoinKoin who we are proud to have cooperated with to bring crypto services to the region.

‍

KoinKoin by going public and fully collateralizing their exchange has managed to crowdsource enough XHT collateral through 14 backers. By collateralizing KoinKoin also increases the profit margins that can be generated from trades on their exchange.

Conclusion

2021 will be the year of blockchain infrastructure and mass adoption.

‍

What will that look like? Will be many small and big businesses slowly adding crypto services to their business website and we believe that exchange operators that provide basic crypto services will succeed.

‍

We also think crypto credit lines will become a thing, crypto collateral will too and you can bet more fiat money 🖨️ printing.

‍

So let's 👋 wave goodbye to 2020 and bring in the big 2021.

‍

Happy holla new year!

-- HollaEx

‍

...

‍

^{Read more about starting your own exchange here.}

^{Read about the cost benfits of a white label exchange here.}

2021 was probably the fastest year ever, even with the back and forth on covid restrictions, you can’t blame anyone for some mental exhaustion. You can even feel it within the crypto market. Particularly in the NFT space in 2021 with their pie-in-the-sky valuations.

‍

‍

Aside from that, these tweets pointed out by @tbr90 are a curious set of messages that pretty nicely sums up 2021.

‍

Besides the odd language, the Twitter accounts here include Facebook Meta, Pepsi, and Budweiser all getting in on the crypto vernacular. Brand names embracing crypto is most certainly a good thing but does seem like a sign of froth in the market. Especially, when reading WAGMI with rocket emojis.

‍

‍

Suffice it to say, 2021 was the year many non-crypto companies became more comfortable entering the crypto realm, or should I say metaverse.

‍

Before getting in on what’s been going on with HollaEx I think it is worth checking the end of last 2020 wrap-up blog ending with “more fiat money 🖨️ printing”. How did it turn out? Well, from 2020 to 2021 the currency in circulation increased by 7.40%.

‍

This no doubt translates into record-breaking inflation rates.

‍

Blame it on the weather, blame it on COVID, it doesn’t matter as Bitcoin's consistent supply continues to work against this backdrop.

‍

That explains the growing demand for white-label tools that help businesses ‘do crypto’. Read on for the 2021 HollaEx summary and future plans for 2022.

‍

HollaEx in 2021

📏 Scaling HollaEx Network

At the very heart and soul of HollaEx is the ability to connect to a shared liquidity network. Networking all exchanges was an architectural design problem that was solved in 2021 and we can say that all future HollaEx-powered platforms will cost-effectively have access to liquidity thanks to the HollaEx Network. Without this, it would mean costly market-making for each and eerie operator, for each and every market they have.

‍

Saying that, in true DIY fashion, HollaEx always has an independent open-source route and will give the option to connect or not connect to the network.

‍

One of the biggest breakthroughs in 2021 would have to be the streamlined setup and automatic exchange deployment on the Holla Cloud. A very fast and cost-effective way for any business to have its own exchange. Out of the box, it can take 30 minutes to get live.

To add, cloud exchanges are easier to troubleshoot and as a result, an improved customer service experience is now provided.

‍

Overall we've had 100+ DIY and Cloud exchanges launched globally this past year. You can even find them launching from the balmy Caribbean, and it will only get easier for hyper-localized communities to access high-grade crypto tech thanks to HollaEx white-label exchange software.

‍

The HollaEx website has also been updated with more fitting information and better directions to helpful pages like Resources, developer portal, community forum, and live trading exchange.

‍

🌎 More connected, more blockchains

HollaEx Vault has integrated with the most active blockchain networks, 10 in total this year. This means crypto businesses using HollaEx white label exchange can provide a whole lot more services to their user base without having to delve into each and every unique blockchain quirk.

‍

As a side note, if you ever wonder why some exchanges are so slow to add new coins/blockchains it is because doing so can introduce significant risks, which is why HollaEx always takes slow and considerate care before adding a chain to the wallet arsenal. Blockchains should reach a certain level of maturity before building connections to them.

‍

On top of more blockchains, there have also been advances in interoperable features in multi-blockchain digital assets. For example, USDT transfer can happen on the industry Ethereum ERC20 standard and the TRON protocol (TRC20), all through a simple drop-down interface. Not to mention Polygon.

‍

This kind of interoperability is an uncommon feature today, even amongst well large well known crypto platforms. This should provide a valuable competitive edge for all exchange operators on a HollaEx-powered white label platform.

‍

🌟 Freshly minted tokens

Tokens have really hit their stride in 2021 and many are starting to realize they probably need one. Tokenization is a good way to incentivize users to stay loyal to a platform, strengthen a brand, and can have many more business benefits that we have yet to figure out.

‍

Surprisingly, there aren’t many platforms that allow for token experimentation. Many token creators will stumble straight after minting their token, and rarely any of them will get a two-sided market going for their token. Many token creators will either distribute too many tokens, too fast or not gain enough interest due to the pool built-in utility and use case for the token.

‍

Fortunately, we believe HollaEx does relieve some of the pain from bootstrapping tokens and can even help businesses get listed on other popular crypto websites. After all, HollaEx has a built-in coin and token creation system, although not the main advertised feature, it is exactly where many business operators will want to start.

‍

To date, +100 tokens and markets have been added and activated on the HollaEx Network.

‍

‍

To get real-time feed on the new tokens added to the HollaEx Network, simply join the HollaEx on Discord and view the Releases channel.

‍

🤖 Tested, primed and optimized 

Many may not have realized but the speed and performance of the trade machine engine have improved by 5x. With many more areas discovered that can be further optimized to give the premium exchange user experience.

‍

Much of the optimizations can be credited to establishing a better testing and quality assurance pipeline. Furthermore, these internal processes help get new HollaEx updates out faster and with fewer hitches.

‍

🦰 Auto identification

In 2021, identity has become somewhat of a big deal. Many countries have put in clearer rules and regulations requesting platforms dealing with fiat and crypto to run an identity check on their customers. This can always be done manually within HollaEx but as reported it can now be done automatically, at scale, with the premium auto KYC plugin in partnership with iDenfy.

‍

🔌 Plugin infrastructure

The infrastructure in place to add, remove and even start building your very own exchange plugins and addons have just started to come forwishen in the last quarter of 2021.

‍

With the introduction of premium plugins such as the auto KYC and more to come, the plugin system will continue to function like a Google Play or Apple Apps store, where operators of crypto businesses can add ready-made functions to their platform with one click.

‍

Plans for 2022

🥩 Staking 

What’s staking? It is a way to put your crypto to work and earn rewards on it. Staking is the modern equivalent of what your bank used to provide called an interest-bearing account.

‍

Much work has already been done on a built-in staking system for assets. Like any other staking system, anyone can stake within HollaEx. This involves connecting your wallet and defining how much you want to stake and for how long. Once locked (staked) an incremental amount of rewards will accumulate, and once unlocked all the coins can be freely moved, including the rewarded interest.

‍

‍

A sneak peek was shared on Reddit (early previews of white-label features can be found on Reddit from time to time).

‍

The first iterations of staking in HollaEx will simply be with XHT the native token of the HollaEx universe, but plans are in place to allow operators to make their own staking systems with their own tokens.

‍

🔎 Price discovery

Price discovery is notoriously tricky and you can never do too much work on it. You’d think slapping a price tag is enough but for highly fungible assets on an orderbook you will quickly find there are a lot of variables in a price. As a result there is a significant amount overhead for an exchange operator.

‍

The only way around this is to include better management tools, better reporting, better data on what is going on in your markets. There are also plans to provide alternative tools for pricing which was briefly alluded to in the Chainlink announcement and in this HollaEx blog post under ‘In the works’.

‍

👋 Getting noticed

In 2021, we purposefully pushed HollaEx into the spotlight and as a result, have gotten much feedback. In short, the exchange kit could be covering a lot more use cases and we agree. An exchange can do a lot.

‍

Staking as previously mentioned is one thing, but lending markets and simpler ways to communicate and market are just a few others that are being built into the kit right now, as a result of the feedback.

‍

HollaEx has also gotten major coverage on FXStreet, Investing.com, FinanceMagnates.com, HelloPareto.com, Hackernoon.com, and TechRound.co.uk. The easiest way to get the latest news is to simply follow HollaEx on Twitter.

‍

As a result of HollaEx success, we’ve spun up a brand new HollaEx YouTube channel with a brand new spiffy HollaEx promo video (below) to help kick the channel off. Be sure to subscribe to the channel to get the latest HollaEx how-to videos.

‍

‍

💵 Inter-exchange settlements

The exchanges interlinked over the years have slowly created opportunities for settlement. Fiat-powered platforms for example typically require help with their liquidity, but as a result of fiat not being connected to the blockchain suffer from illiquidity.

‍

Solutions are being worked on to allow for exchanges within the HollaEx network to directly help one another for the purpose of lending and settlement. This concept hinges on ideas around crypto collateral of which XHT shall play a bigger part. Ultimately, operators can borrow and lend and as a result, more combinations for fiat<>crypto should arise.

‍

📶 Interoperable blockchain features

As mentioned early, we’ve made great strides in integrating blockchains in 2021, and in 2022 it will be no different. This means more blockchain interoperability and multi-asset token systems (similar to how USDT operates on multiple chains).

‍

Some of the major chains we’ve been eyeing are Solana and Cardano. Even NFTs. (leave feedback in the Discord feedback channel to have a new blockchain or coin added)

‍

📱 Mobile app

In certain countries mobile apps are the norm when interacting with the internet. This is mostly due to resource limitations and it so happens that native mobile apps can be much more efficient than using a web browser on the phone.

‍

Long overdue, many have requested a mobile app version of HollaEx which we look forward to finally releasing in 2022, stay tuned!

‍

Happy new year!

And that about concludes HollaEx’s 2021 wrap-up.

‍

For more crypto industry and HollaEx news, check us out on 🐦Twitter.

‍

‍

Happy holla new year. Goodbye 👋 2021. Hello, 2022.

— HollaEx

‍

Fidelity has over $9.6 trillion of assets under management, serves 40 million investors, and is one of the largest managers of wealth. Recently, the company shared opened up commission-free retail trading for Bitcoin and Ethereum. They even allow as little as 1 dollar trades.  If this isn’t a sign of things to come then I don’t know what is. The fact that Fidelity, after all the turmoil with FTX, turned around and opened up for Bitcoin retail trading of all things just shows the appetite for the crypto business.

‍

Fidelity also harbors some big views on money itself and here’s what they had to say:

‍

“...bitcoin will be the currency to obsolete all others [monies].”, with that being said, you could say that Fidelity, one of the biggest money managers, probably would know a thing or two about money and its future.

‍

‍

The tweet shared by Fidelity was in response to an article published by Unchained Capital, a group that put forward an argument that bitcoin and cryptocurrencies will naturally make money (fiat) obsolete.

‍

‍

Unchained Capital’s flowchart representation of crypto world domination

‍

If bitcoin is the next evolution of money and trade, then this begs to question who will be the greatest beneficiaries of this technology? Naturally, the answer lies within crypto exchanges that are capitalizing on cryptocurrency trading by investors.

‍

Think about this for a second, if bitcoin and crypto are able to replace money (fiat) and make it obsolete as Unchained Cap thinks, then in effect, crypto exchanges have the potential to make banks obsolete and dominate the world financial markets.

‍

‍

“And this is despite market headwinds. Institutional investors surveyed in the U.S. and Europe reported increased familiarity, improved perception, and more digital asset investments.”
-- Fidelity

‍

This is why more crypto exchanges exist today. And, this trend will only continue to rise due to the increased familiarity, improved perception, and more mature investment opportunities in the space. If you’re considering opening up your own white-label crypto exchange, our in-depth guide covers everything. Here’s what you need to know.

‍

What is a white-label exchange?

Historically, setting up a cryptocurrency exchange has been a complex process. But with the introduction of white-label solutions, it has become much more accessible. White label exchanges are turnkey solutions. Starting with a white label crypto exchange means you won't have to start from scratch. White-label cryptocurrency exchanges offer a quick and cost-effective alternative to traditional exchange development.

‍

A crypto white-label solution typically encompasses highly a set of customizable features and dashboard to assist in the setup and launch of the exchange.

‍

A few of the key components of a white-label include:

‍

• Various trading pages:
  Orderbook, price history chart and a list of tradable crypto markets.
  ‍
• An admin dashboard:
  Or back office central control panel system.
  ‍
• User wallets:
  The heart of any exchange is a crypto wallet which stores all the digital assets and helps monitor various blockchains to track incoming deposits and outgoing withdrawals.
  ‍
• Trading pair market setup:
  A means to connect digital asset with one another for the purpose of pricing and market creation. For example BTC/USDT or YOUR-COIN/USDT.
  ‍
• A trading engine:
  Should be able to execute market and limit buy/sell orders, and source the crypto liquidity accurately on the backend. The engine could be connected to an orderbook and/or OTC style system.
  ‍
• Third-party KYC/AML systems:
  Built-in user identity system to obtain and safely store personal user info for Know Your Custom and Anti-money Laundering business protection and regional compliance.
  ‍
• In-built affiliate and referral systems:
  Allow userbase to easily share and referee their friends and family through incentives. System to track and monitor each user's referral count and their expected reward. This can be rewarded through trading fee profits generated by each user they invited that is generating activity.
  ‍
• Localization:
  Provide extensive language optionality through the platform. Users should be able to select their own language preferences through the setting. Custom localization features could also include the ability to adjust the content of the platform pages and forms to fit the target local audience.
  ‍‍
• Fiat on/off ramping and other integrations:
  The white-label crypto system should allow also allowed for traditional fiat currency systems (fiat on/off ramps) to be integrated and connected. This could come in the form of access to Bank or payment-provider API access, and/or even other blockchain services.‍‍‍
  ‍

• Hosting and server management:
  Many white-label crypto system will also include a cloud service (server hosting) with easy-to-use domain name and email connection dashboard allow you to launch quickly on a website you control.
  ‍

‍

Normally, it would take a typical startup well over a year to create a crypto exchange with all the components above, costing businesses hundreds of thousands of dollars in developer fees. 

‍

Note, this doesn’t take into account all the complex technical variables, involved in your typical crypto platform like:

‍

• Finding/hiring quality programmers familiar with trading
• Finding programmers with real blockchain development experience
• Debugging code issues
• Project management
• UX/UI design

‍

Due to the time, complexities, and cost associated with creating a crypto exchange, many companies decide to use white-label blockchain services as an alternative. In some cases it is the only option due to the difficulty hiring personal with all of the above mentioned skill sets. The talent pool is still very small as the industry is still relatively young.

‍

Many fintech companies for example have opted into using open-source white-label solution that can be deployed in hours or days, rather than years, and is a relevantly low-risk way for them to start and to get their feet wet.

‍

Why are cryptocurrency projects launching their own exchanges?

Exchanges can be geared towards various markets such as cryptocurrencies, crypto-collectibles, real-estate tokens, or even crypto banking and stablecoin issuance. The limitations are endless and it really comes down to the imagination of the team and business operators.

‍

That said, here are 6 main reasons why you might want to launch an exchange today:

‍

1. As a new business:
   ‍Having a critical piece of the crypto-financial infrastructure can be a good long-term bet as the industry is still growing and in its nascent stages. Starting early and garnering trust with your customer base when it comes to crypto is a long-term investment that can only be done by establishing yourself as a reliable crypto broker over time.
   ‍
2. To get a coin/token listed:
   ‍For projects that have a token or coin, they can use a white-label exchange solution like HollaEx to immediately run your own exchange. This helps new cryptocurrencies increase their chances of being listed on popular sites like CoinMarketCap (CMC).
   ‍
3. Avoid exchange fees:
   ‍To list a new cryptocurrency on an exchange can cost as little as $5,000, or, for more well-known exchanges, the cost can be anywhere between $100,000 up to $500,000 on premium exchanges. As a result, opening up your own crypto platform for listing your exchange is the only sure way to bypass expensive exchange fees. This has the added benefit of more control over your token and makes for easier tokenomics planning and design.
   ‍
4. Launch and distribute an internal exchange token that is not on the blockchain:
   This type of exchange can manage all of your accounting and thus defer the complications of dealing with a blockchain. This is also known as an internal virtual token and can be a good place to start without having to deal with the inimitability of blockchains.
   ‍
5. Expand an existing business:
   One way to look at an exchange is that it is like having your own Excel spreadsheet with real money running through it, and many traditional financial or even non-financial businesses are upgrading their existing infrastructure to take advantage of this powerful fact. By using crypto and blockchain-powered white-label tools, this business can begin crafting and offering new services to their customers and thus open new business opportunities.
   ‍‍
6. Serve the underserved:
   There are still many countries with limited digital asset access. Many countries are suffering from world record-breaking inflation and simply offering an exchange where they can store their wealth in other stable assets like USDT or even Bitcoin is a valuable service with high business growth opportunities.

‍

Is a crypto exchange a good investment?

‍

‍

In one of Pantera Capital’s article, they for the first time publicly illustrate their investment strategy, and as the first and most successful innovative venture capitalists (VCs) in the blockchain industry, they very clearly state exchanges as one of the major sectors they allocated investment fund towards.

‍

The pie chart illustrates a breakdown of Pantera’s investment strategy, which shows that most of their capital has been allocated towards crypto infrastructure and of course exchanges. These 2 areas are key as they will provide the core building blocks for pushing blockchain-based finance.

‍

Whether investing or running your exchange yourself being part of the crypto infrastructure pie, as a long-term investment, is a winning business strategy, as well as a wise lucrative EV bet.

‍

Why does it make sense to create your own crypto exchange?

Did you know that in 2021 that people searched for bitcoin 7X more than for the dollar and 42X times more than for EURO? Also, did you know the word “bitcoin” appears every 3 seconds on social media? This volume suggests that people are becoming highly familiar with digital currencies and that slow mass adoption is silently brewing. However, with the increasing popularity of crypto trading, centralized exchanges have risen as the gatekeepers.

‍

Because of this, top centralized exchanges, have the capacity to make cryptocurrency or token launches fail or succeed as they control a lot of visibility and access within the industry.

By starting your own crypto exchange, it will be easier to get listed on popular platforms like CoinMarketCap and CoinGecko that typically require that tokens or coins be listed on a minimum of 2 exchanges. The advantage of using a white-label instead of listing on some other exchange in which you have no control over the listing is 2 fold, one you will have much more control and guarantee that your listing will remain online and the cost will likely be much lower, especially over the longer term.

‍

White-label crypto exchanges give power back to entrepreneurs by allowing them to get their business and tokens listed easier on platforms and popular coin listing websites, but also allow crypto startups to be in power and run their own global digital marketplaces.

‍

What are the benefits if you buy white-label crypto exchange software?

With ready-made software, any fintech can instantly launch an exchange platform in minutes. The benefits of using a white-label crypto exchange solution boil down to 5 main points:

‍

1. Time & cost: You can avoid spending endless hours assembling a development team to build your exchange and put the funds saved towards legal and business operations.
2. Speed: You can instantly get the exchange up and live. The very best white-label exchanges can be deployed via the cloud in minutes.
3. Security: The most important part of an exchange is security. Unless your team has cybersecurity experience, then outsourcing it to experts is a no-brainer.
4. Focus: White-label exchange solutions allow teams to spend less energy on technicalities and teams to refocus on sales, growth strategies and important marketing decisions.
5. Support: white-label exchange provided have the added benefit of tech support. This can be the saving grace of many businesses that lack a tech team.

‍

White-label exchanges have a much lower barrier to entry when compared to creating an exchange from scratch. This is why the upstart costs for a DIY exchange are considerably lower, saving new businesses up to 95% on the initial exchange upstart cost.

‍

‍

What are the best types of white-label crypto exchange solutions?

The most cost-effective way to get the most out of your white-label solution is to invest the time into researching and testing the white-label options available.

‍

Many white-label solutions can be setup for free (when self-assembled & self-hosted). The innovative DIY exchange option is a great hands-on way to test the software of an exchange in all its glory, and one of the only ways a team can know if the software is right for them to purchase.

‍

With this in mind, there are 3 main types of white-label exchange solutions out there. Here’s what you need to know:

‍

1. Cloud Centralized Exchange:  Your typical cloud exchange is where the exchange is hosted and the servers are managed by the white-label provider or another party. Cloud exchanges will charge a cloud hosting fee and may even have a one-time initial server setup fee, and ongoing server fees. Cloud exchanges come in all shapes and sizes, but typically can run $1,000s to $10,000s a month depending on the complexity of the system.
2. Do-it-yourself Exchanges (DIY exchange): DIY centralized exchanges provides you with all of the parts and tools that are required to launch and run the exchange. This means that you’ll have complete hosting control over your exchange business and you will have to manage the servers like (eg. Amazon Web Services). Prepacked DIY exchange kits can already be conveniently found buddled with the exchange software on AWS and DigitialOcean, making for easy work.
3. Do-it-yourself Decentralized Exchanges (DIY DEX): Decentralized exchanges run on smart contracts. Many startups start by forking exciting DEX code like Uniswap. A DEX will also automate trade matching and wallet management in a decentralized way, however, will require a lot of tech setup in order to be customer-facing ready. 

‍

Deciding on the type of white-label exchange comes down to the team’s capabilities to set up and run the software. Generally, the more support needed the higher the costs. Another deciding factor is the importance of generating profits.

‍

‍

For most business use cases, cloud exchange and DIY exchange are usually the best options. A cloud exchange, at an affordable month-by-month payment, is a good way slowly ease into the space without having to make any serious commitment.

‍

In view of this, if you are looking for a long-term growth solution, then you will want a DIY exchange — whereby, you will have to organize the hosting of your exchange yourself. With that in mind, it is important to point out that you will need at least one competent tech member in your team as the exchange will now require a lot of server management.

‍

If you need to launch quickly, then a white-label exchange provider like HollaEx which offers both the cloud and DIY solution is the fastest possible path and sports many affordable options. Simply follow the step-by-step exchange process and get your own branded crypto exchange in minutes.

‍

‍

How much does a white-label crypto exchange cost?

The cost for white-label exchange software varies from $5,000 on the low-end, to $1,000,000 for enterprise solutions. It also depends if the solution is bought outright, or paid monthly (cloud exchange). However, for simplicity of this article, we will breakdown the costs for buying a white-label outright (cloud or rented exchanges would be cheaper):

‍

• $5,000 for low-end (may exclude certain blockchains)
• $100,000s mid-range
• $1,000,000s enterprise solution (may include payment-provided integrations for fiat or other assets, and other advanced features)
  ‍

When doing a price analysis on a crypto white-label, it is important to ask yourself, is this a business that can be sustained? Do I have enough working capital to sustain it? Similar to any business franchise, a bare minimum of $25,000 to $50,000 for working capital is required in order to operate any business smoothly. Depending on your team composition, this may of course vary.

‍

Technical assistance & price

White-label exchange prices vary, not only, due to the type of solution you choose (cloud exchange or DIY exchange), but also in relation to how much technical assistance you will require.

‍

1. Cloud Centralized Exchange: Prices can run as low as $700 a month to $10,000s. On the high end, prices can exceed $10,000 monthly, depending on how much your business requires technical assistance. It is important to note that cheaper options tend to have some sort of revenue share model added on top of the monthly cost, this is typically geared towards targeting an exchange operator that already has a large userbase and brand, opting into a business deal to make a percentage from future revenue generated from the future growth.
   ‍
2. Do-it-yourself Centralized Exchanges (DIY CEX): Ranging from free to $10,000 for extremely basic, to $100,000 for mid-range to $1,000,000 for high range well integrated exchange. As prices do vary, it can be tricky to know what you are getting and so it is always good practice to check if the exchange software is open-source or not, this generally means that the software has been battle-tested and is of high-grade quality code.
   ‍

Cloud centralized exchange fees

White-label cloud centralized exchange solutions often encompass additional fees, such as revenue sharing; or monthly fees for other services such as server maintenance.

‍

• Revenue sharing: Some exchange cloud services may include a revenue-sharing model in which a percentage of your profits generated from trading fees will go to the white-label provider.
• Monthly fees: For server maintenance, which may have a 6-month or 1-year upfront cost.
  ‍

Is it cost-effective to use a white-label solution?

One method to calculate if using a white-label exchange solution is worth your while is to estimate your team’s ability to build a regular website from scratch. For example, the industry standard for building a commercial website would hinge on the average hourly wage of all team members building the website.

‍

‍

As illustrated above, the typical cost to build a regular e-commerce website from scratch can range from $50,000 to $100,000. And, this is just a ballpark cost. It does not factor in the complexities and skills of programmers (ie. a regular web developer VS a developer with a specialty in blockchain, crypto wallets, and of course cybersecurity).

‍

How many programmers are required to build a crypto exchange?

Crypto exchanges are inherently more complicated due to wallet management and security policies built around the wallets. These factors naturally increase the build costs of an online exchange platform. Generally speaking, it will take 6–8 team members to build a crypto exchange from scratch.

‍

You will need the following people and skills in your team.

‍

• Front-end dev + designer: 1–2 people
• Back-end developers: 3 people
• Dev-ops engineer: 1 person
• Cybersecurity expert: 1–2 people
• Agile project manager: 1 person (optional)

‍

And, if you’re hiring people full-time from the UK, US, or Australia — then you could be expected to pay anywhere between $500,000 — $900,000 to hire a full team to build a crypto exchange from scratch.

‍

It is important to note that the $500,000 — $900,000 build cost does not factor in other business aspects such as legal, marketing, crypto liquidity, market making, and server costs. Meaning, that the “hard cost” will exceed $1,000,000.

‍

How long will it take to build a crypto exchange?

Depending on which route you take, if you’re hiring a full-time team to build a crypto exchange from scratch it will take a minimum of 4 to 8 months. However, using a white-label exchange software kit makes it possible to launch a cryptocurrency exchange in just 24 hours. These kits are easy-to-use for all sorts of team compositions and can help in getting an exchange up and running with the least complications.

‍

However, it can be difficult to find a white-label solution that you can test in a hands-on way. Most white-label software solutions won’t provide the code to download test and tinker with, however, HollaEx’s white-label crypto kit is an exception with its open-source code freely available for anyone to take it.

‍

Alternatively, you can also use the HollaEx exchange creation wizard on the HollaEx dashboard — zero coding exchange setup flow. After going through the steps you can run the exchange on your machine or you can ask to get your exchange hosted on the cloud automatically for you.

‍

What types of crypto exchange themes are available?

When it comes to the visual style of the exchange, most white-label solutions provide 2 default themes, one light, and the other dark. Much of the customization around the exchange’s visual appearance comes down to the flexibility of the solution. These differ greatly.

‍

The best way to test this is to actually use a trial version of the software and see for yourself how simple it is to customize. Most crypto exchange themes will not allow the customer to try before they buy, but will rather, showcase a static demo that isn’t trading any real money. If this is the case then ask for a working live demo with real-life trades.

‍

‍

Nearly all crypto exchange templates can be obtained for a small cost in the $30-$150 price range. However, implementing these changes on top of an existing white-label isn’t always straightforward. These templates are still a practical way to guide your frontend and design team, however, but careful considerations should be taken when redesigning an exciting white-label orderbook, order entry and crypto wallets. These areas are highly sensitive areas and could lead to your users getting stuck or worse yet making mistakes due to some frontend bug. 

‍

One thing to consider when marketing your exchange is to separate the app/exchange part of the exchange and have your main landing page for your exchange's main communication landing page and marketing device. The landing home page can be built separately from your exchange and can be done in either WordPress or other web builders. For example, the trading can be handled on trade.exchange.com, while the home page can simply be exchange.com.

‍

For example, a HollaEx-powered platform Bittilo.com comes complete home page while the inside is where the exchange software is active. This separation will also make it easy to hand off work to others to say build the landing page, while other work can proceed separately on the exchange/app side.

‍

‍

Separating the two main UIs like the home page from the trading page gives teams greater control and flexibility when changing content such as home page messages, articles, videos, etc, and can be done so through a dedicated CMS tool while separating concerns. Normally teams use a dedicated CMS system that can come at extra costs extra depending on your team's skills with tools such as WordPress or Wix.

‍

How long does it take to launch a white-label crypto exchange?

Launching a white-label exchange should take the shortest time possible. That’s the whole point of using a pre-made crypto exchange kit. 

‍

Most white-label exchange kits can be launched in between 1–4 weeks. However, some white-label software kits such as HollaEx’s exchange kit can be set up in 15 minutes (with little tech know-how).

‍

HollaEx: A step-by-step guide to getting your crypto exchange up and running in minutes

HollaEx is the fastest way to get your crypto exchange up and trading in minutes. First, sign up and log in to the exchange dashboard and complete the 5-step exchange setup wizard.

‍

‍

The HollaEx is not just the fastest white-label exchange launcher but also the most cost-effective since HollaEx has designed the white-label as an open-source and shareable solution from day one with built-in tokenomics. This makes HollaEx the only white-label available that actually uses its own technology to enhance the affordable and long turn viability of the software.

‍

What are the pros and cons of a white-label crypto exchange software solution?

Choosing a cloud exchange or self-hosting exchange has both pros and cons. Here’s what you need to know:

‍

Pros of using a white-label crypto exchange

‍

1. Speed: Rapid deployment and getting to market faster.
2. Convenient: Greater convenience and flexibility.
3. ROI: Higher return on investment for not having to rebuild the wheel again. Continues tech upgrades.
4. Lower costs: Reduces labor costs when compared to building the tech from scratch.
5. Security: Building on battle-tested software that is secured by a team of tech specialists.

‍

Cons of using a white-label crypto exchange

‍

1. Design options: The design options can be limited within the exchange kit. Some exchange white-labels will require teams to invest significantly in a front end and a design in order to have their brand through default white-label exchange appearance.
2. Long-term support: Depending on what solution you use the provider may not provide support. This however can be nullified with open-source solutions which will continue to operate and can be built upon indefinitely.
3. License: There can be complicated licenses and compliance (depending on the country).
4. Control: Since the tech is outsourced there will naturally be areas where control has to be given up.
5. Flexibility & high switch cost: There can be difficulty changing from one white-label exchange to another after building the business. This is why it is important for you to select the best, most open white-label exchange software.

‍

If you are self-hosting using a DIY exchange solution, the major benefit is that your business will be much more self-reliant. This means, with little dependence on third parties you can run very lean and minimize overheads.

‍

‍

For teams with some expertise then going down the DIY route is the most cost-effective way with full control and security over the project. The higher skilled your team is the lower the cost to build the exchange.

‍

If you don’t have a huge tech team, then using an exchange cloud solution will require some level of trust in the exchange provider to secure your exchange which is the major trade-off for the added benefit of speed, cost, and convenience.

‍

‍

With enterprise solutions, you gain full support from the exchange white-label solutions provider to expedite your project.

‍

This includes extra labor hours for customization, and integration (payment on-ramp, etc), and will include specialized consultation from a dedicated team to see the exchange platform through to production, and the final handoff stage. This may include hands-on training to get teams up-to-speed with crypto tokenonmics design (staking, etc), security procedures, and best practices.

‍

‍

Enterprise white-label solutions are for a business that knows what they want, want it fast, and are willing to pay upfront for the consultancy, safety, and quality. With a high initial cost setup, you are essentially paying to get full rights to the exchange, which your solution will then be handed over to your team for eventually self-hosted, on-premise crypto exchange.

‍

‍

What do you need to know about the white label HollaEx exchange system?

Today, it is even easier to start your own crypto exchange. However, with that being said, there are so many factors to consider: technology, costs, the quality of code, admin panel comprehensiveness, cloud-based versus remote hosting, and speed.

‍

At HollaEx we’ve built our white-label to reduce the complexity around running a crypto business by creating our streamlined 5-step exchange dashboard setup. The dashboard includes everything from admin and hosting controls, to exchange quick launching and the ability for the platform to update in real-time when making changes.

‍

‍

As a way of showcasing the ease and flexibility of using a white-label exchange software, publicly announced and launched the HollaEx Pro Exchange on the 1st of January 2020 (However the development of HollaEx goes as far back as 2016).

‍

‍

The HollaEx Pro Exchange is a live crypto exchange that uses all of the key components inside of HollaEx’s white-label exchange software kit and is a great working example of the white-label in action.

‍

Anyone can sign up, deposit, and execute live crypto trades on HollaEx Pro, it gives the full experience of what you can get inside of the crypto white-label kit, including your very own exchange crypto wallet and blockchain funds tracking system.

‍

‍

Another way to preview the use of white label HollaEx crypto exchange is to get in touch, and make a request for a live demo or examples from other business using the white label.

‍
--

Want to start your own crypto exchange today?‍

Sign up and set up your exchange for free here, or schedule a live demo walkthrough.

For more crypto industry and HollaEx news, check us out on 🐦Twitter.

The gateway into the future of finance

‍

Exchanges are the gateway to the crypto industry and quite possibly the future of finance. Since the early days of Bitcoin, the appetite for crypto exchanges has only grown, particularly in places where a large number of the population remain unbanked. Many people have learnt to trade, they know what an orderbook is. For example large segments of the population within southeast Asia use crypto daily through exchanges, in fact it has become their daily driver when it comes to finance, “...young populations who inherently understand the technology”, Amy Zhao, lead at Ocular said.

‍

For many young people in Asia and elsewhere, crypto exchanges are their first significant experience with online finance. These exchanges are often more user-friendly and have superior internet compatibility compared to traditional banks, which has made them popular among the next generation of users. Despite incidents like the FTX and Celsius hack, many people continue to use their local crypto exchanges because of their usability, speed, and user-friendliness of an email only setup.

‍

For exchange business owners and/or operators, the settlement procedures with crypto are operationally much cheaper. They bring near real-time transactions between financial institutions, and ultimately streamline business processes with much less mistakes and less moving parts. An exchange system connected to the reliability of the Bitcoin and Ethereum blockchain makes a lot of business sense for startups and operators looking to future proof not only their finances, but allows the to explore cutting edge technology to stay ahead and find new ways to increase profits.

‍

For the operators of crypto exchanges, the settlement procedures are significantly cheaper and more efficient. They facilitate nearly real-time transactions between financial institutions and streamline business processes, reducing errors and complexity. Using a blockchain-based exchange system, such as those built on Bitcoin or Ethereum, makes financial sense for startups and operators looking to future-proof their operations and explore innovative technology to stay ahead and increase profits. Connecting ones business to the blockchain can provide new opportunity to experiment new and profitability business models.

‍

Crypto exchange businesses experienced growth, even during the tumultuous year of COVID-19, while most other businesses struggled. In fact, many crypto exchanges grew larger than well-known banks. For example, The Bank of Scotland reported revenues of $17 billion, while Binance the biggest crypto exchange reported whopping $20 billion! Are we seeing a trend here? If there is a trend, no doubt, the trend is to start an online exchange right away but before doing so a few frequently asked questions must be considered before starting an exchange.

Read on for FAQs around starting a crypto exchange!

‍

Why do you want to start an exchange?

Why? The first and most obvious answer to why you’d want to start an exchange is to list, price and offer digital assets, tokens, and popular cryptocurrency trading to a demographic, region, or country that may not have access to the technology already. There are many places that remain largely unbanked or with insufficient financial services which are a perfect target market. This exchange list may help in locating countries that lack exchange infrastructure, however, a good Google on the topic will also suffice.

‍

The point is, you’d want to start an exchange and target the marketing to where it makes the best business sense and where the technology is needed the most.

‍

Another reason to start an exchange is if you are a token issuer of some kind. Launching a crypto exchange is a plus for token creators since popular token listing platforms like CoinGecko and CoinMarketCap require that a token be listed on at least 2 exchanges with sufficient information about said token. Therefore, launching a token on your own exchange allows you to accomplish these requirements and can help bypass the typical expensive token listing fees on third-party exchanges.

‍

‍

While critics might argue that cryptocurrencies have dramatically reduced in value from $50,000 to now $17,000 (as of Nov 2022), some like Tim Draper remain positive that changes are around the corner. Other results show that searches for the term Bitcoin in Google have remained steady with consistent interest below the surface.

‍

Finally, crypto is no longer just about ‘crypto bros’ anymore. Traditional shops like Fidelity are now opening crypto markets and now pushing for commission-free Bitcoin and Ethereum retail trading. This has signaled other traditional financial firms to get into it which means much more visibility and usage of crypto which will in turn levitate every other crypto business.

‍

What are the different types of exchanges?

There are 3 types of crypto exchanges, these being, the popular centralized exchanges or CEX for short, the decentralized exchanges or DEXs, and peer-to-peer (P2P) exchanges.

‍

🌐 Centralized exchanges

These are the most popular type. They both act as the custodian of the wallets on the exchange and manage the trade. Some centralized exchanges will opt for a third-party custodian to take care of their crypto wallets. But typically they will custodian the funds themselves and the governing body will take care of the security of each wallet which means they will be responsible for upgrades or handling of disputes on the platform as well as managing blockchain nodes.

‍

As a trade-off for their high speed, functionality, and high trading volume, such exchanges can run into security issues which makes the risk rewards high for those that run an exchange.

‍

‍

A centralized exchange will typically handle everything in one place and can control who can send money to whom.

‍

Examples of such exchanges include platforms like Binance, Kraken, Coinbase, and HollaEx Pro.

‍

Most business people that want to run their own business end up pursuing a centralized exchange model because centralized exchanges have many ways to generate profits, from coin listing fees, trading fees, or simple market-making services that can garner substantial profits.

‍

‍

🕸️ Decentralized exchanges

Unlike centralized exchanges, decentralized exchanges (DEX) are non-custodial, meaning users manage their own wallets and funds directly. The DEX however helps with the transfer of funds from one wallet to the other through their UI or platform website.

‍

DEX's biggest advantage is that they offer users more control and privacy and can’t be censored, mean means the platform or DEX can’t block any fund transfers.

‍

For actual trades or swapping of coins, each trade order is time-stamped on the blockchain allowing for transparency in terms of price. In fact, everything is done on the blockchain in an automated way with all actions bundled through multiple smart-contract.

‍

‍

The DEX itself isn’t holding any of the users funds, rather the DEX will relay any trade order information through the blockchain. This interaction is done via the user's wallet to another user's wallet.

‍

However, since there is no escrow or central entity to govern transactions, these exchanges lack a moderator in cases when a mistake could occur. They also can suffer from low liquidity which can lead to low trading volume, which in turn makes trading extremely slow with limited. Ultimately prices can be accurate and the expense to trade will be quiet high for regular users that aren’t crypto experts. DEX also won’t work well with Bitcoin or fiat currencies which greatly reduces the ability of any businesses operator to generate profits.

‍

However, most DEX operators can generate profits by providing some sort of token system. Another way they can make profits is through bot market-making services on top of their DEXs, taking advantage of new markets and their large spreads and low volumes.

‍

‍

🖧 Peer-to-peer exchanges

These types of exchanges are quite popular in places where exchange infrastructure doesn’t exist yet and/or there is unfavorable regulation. Platforms like Local Bitcoin show that peer-to-peer (P2P) trading volumes in India and South Africa have been consistent for nearly 8 years straight.

‍

‍

P2P exchanges however operate more like decentralized exchanges; instead of having an autonomous program or trading engine directly connecting one wallet to the other on the blockchain, peer-to-peer exchanges connect one trader to the other and govern transactions using escrow. An Escrow is largely a dispute resolution system and is typically a rather manual process handled by the operator and the members trading.

‍

‍

A traditional P2P exchange will typically force users of the platform to put up and hold a certain amount of crypto as collateral in their wallet for good measure. This collateral is then used when trades go awry.

‍

Another option apart from using an online P2P system or website is for the users to physically meet up outside of the P2P platform to settle transactions themselves, thus avoiding/reducing escrow fees. Some services like MyCelium local trader can assist with this in-person transaction with their rating and optional built-in escrow system.

‍

The business model for a peer-to-peer model is to charge a percentage of the transaction fee for the escrow/moderate service provided, and/or direct advertising on the platform. My example if someone trades 1 BTC and they use the escrow for safety, the escrow or platform itself can take 0.01 BTC from that transaction for providing oversight over the P2P trade.

‍

What if something goes wrong? That is where the collateral gets used and can help reduce damages. But it is all up to the escrow to decide the solution and isn’t a sure system. This collateral cost however does make the cost of trading very high for all users, particularly those that only want to trade larger amounts which will require ever more collateral and escrow over watching services.

‍

Why is it important for crypto exchanges to obtain legal counsel?

Complying with the different laws and regulations of the country where your exchange is based is crucial. In terms of obtaining legal counsel, there are several options:

‍

• Hiring a legal team
• Adding an advisory board
• Using a third-party legal team

‍

With rapidly evolving crypto exchange industry, laws and regulations, having a full-time legal compliance team can make the task much easier and it will help you to launch your crypto exchange in a country with crypto-friendly laws and regulations.

‍

While countries like China have a history of banning crypto exchanges — countries like Georgia (in Europe), Singapore, and even El Salvador are known for having crypto-friendly laws and regulations. However, many of these countries can shift on a dime and so it might be prudent to set up in a country that is not known to change its laws as swiftly.

‍

Many crypto companies have taken refuge in the Caribbean, amongst the Cayman Islands. If however you have capital, and paperwork in order then places like Zug Switzerland might be the best place on the planet for crypto businesses.

‍

As a rule of thumb, no matter where your crypto business is established it is always good to follow the typical KYC and AML laws. The KYC laws around crypto have become increasingly important in safeguarding businesses and fighting against corruption and unlawful transactions. This means that your business should be structured in such a way that complies with these laws to conduct legitimate business.

‍

KYC and AML compliance requires your business to collect basic data about your customers. That data can then be used in case your business is called upon by your local law enforcement who may need the data to follow up on any cases of financial crime or fraud.

‍

Keeping a record of your users can also help safeguard your exchange business from hackers who would rather not give up their personal details. There are many third-party services that can be connected to the crypto business that can make collecting and recording these pieces of these data for you easily.

‍

In most cases, the laws governing crypto are still in a grey area. As a result, it is often safer to first set up a crypto-to-crypto trading exchange, with no fiat currencies. Not having to deal with local fiat currencies will result in fewer legal headaches, not to mention is faster and extremely simple with a crypto exchange kit software.

‍

How to create a financial plan for your crypto exchange?

It is important to plan your budget to make conscientious financial decisions for the growth of your business. Budgeting will also make it easy to choose the right method of raising finances. First, start by figuring out how your business will be funded. Here are 4 common ways:

‍

• Self-funded: Founders inject capital into their own business.
• Venture-backed: Founders raised funds from venture capitalists (VCs).
• Angel-backed: Founders raised funds from either angel investors or friends and family.
• ICO: The team launches an initial coin offering (ICO) to raise funds.
• IEO: The team launches an initial exchange offering (IEO) to raise funds via an exchange listing.
• STO: The team launches a security token offering (IEO) to raise funds via to raise funds.

‍

If you choose the VC route, VC firms will require that you prepare an extensive business plan (pitch deck) that details exactly what the big opportunity is, and why you are suited to take advantage of this opportunity. Additionally, VCs will want to see, at the bare minimum, a working prototype (MVP) of your product and traction (user growth). For this reason, the time that it takes to raise funds from VCs is considerable when compared to an ICO or an IEO.

‍

‍

Having at least an exchange MVP will make raising capital simpler. To create an exchange visit HollaEx and open up your exchange to the public to help gather capital. Some white label exchanges have a free testnet version.

‍

ICOs, STO, and IEOs, on the other hand, may require less formal preparations, depending on the jurisdiction, and allow you to almost immediately start raising funds. That said, it is important to point out that like VCs, token crowd sale investors will want to see at least a minimum viable product (MVP) and a team with a solid track record. This is where using a white label exchange solution can be useful as it allows you to validate your idea by getting users and investors.

‍

How to create a business model for your crypto exchange?

A business model is simply the plan or strategy you intend to use to make profits for your crypto exchange. Hence, the business model should outline how your business intends to make a profit. Part of this plan may go into great detail about user acquisition first, however, once users are onboarded and are consistently active on your exchange, then simply charging a transaction fee on every trade and operating the exchange normally is a sufficient enough business model.

‍

However, if you don’t have the users yet, then you must make a plan to onboard them into your platform. One way to convince users to come is to provide a utility token and/or exchange token created on your exchange which will be used to incentivize users to use your platform. Your token on your exchange can then be used for:

‍

• Trader voting: The right to vote on the future of the project, platform and/or exchange.
• Rewards buyers and sellers: Upon the completion of certain tasks the token can be issued as a reward for activity and loyalty to your platform.
• Gateway: The utility token can also be used as a gateway to specific functionalities on the exchange. For example, if a user holds enough tokens then he or she can access a certain function or rewards on the platform like lower trading fees or more info, or tools.
• Store of value: The token can be a store of value and used to transact outside of the exchange. This is the ultimate goal to provide a token that holds enough value through virtue of all of the utility and use cases built around it. Operating an exchange to facilitate these use cases can contribute greatly to the token's usefulness and thus its value.

‍

To garner any benefit from tokens a substantial amount of work will be required, however, there is no better get working on your tokenomics than on your own crypto exchange platform. The token’s tokenomics design can start on the platform itself and as certain parts of the business strengthen so too can the token.

‍

Another business avenue is that your exchange can act as an affiliate for other crypto-related services. This means, with enough traffic to your exchange, your business can earn commissions from recommending other crypto-related merchandise. Plus, not to mention, your exchange can charge trading fees on top of every transaction.

‍

Note, in almost all these business revenue-generating examples a centralized exchange would be the only viable route to achieving any of these business endeavors, and thus it is important to consider what type of exchange you will operate first.

‍

‍

Having an exchange crypto wallet and/or user information and funds is the ultimate centralized place to create business models and revenue streams for your exchange operations. The options go beyond trading fees and into all the realms that traditional banks enjoy today and more.

‍

The business model around exchanges is limited by your imagination, and really the more users you have the more options you will have. But before any of that is considered it is important to have these 3 basic exchange services, the first being crypto liquidity, the second being smooth deposits/withdrawals, and lastly transaction fees. These are the bread and butter of your operations and most be automated to provide a smooth user experience.

‍

One key piece of information when starting an exchange is the importance of stablecoins, these can be USDT, USDC, or BUSD. The number of transactions between Tether (USDT) can’t be argued. USDT has become the de facto crypto world reserve currency and many exchange operators carve out a healthy business by using USDT as their native currency on their platform. This can be done by facilitating any business transaction on their exchange through an OTC or over-the-counter system (Learn what an OTC is in this video).

‍

‍

OTC deals are simply blocked P2P block trades that can occur off the exchange, but the exchange can still be used as a place to hold the funds and even automatically swap the funds. Many of these OTC trades are done in USDT, however traditional currencies like USD and EUR are always in-demand especially for clients that aren’t already in crypto, who might be looking for a way in.

‍

It is the job of the OTC dealer to source crypto from cheaper locations and sell/buy with a small margin, the idea behind the OTC is to do this enough times, using the exchange as infrastructure to facility the trade, or as simply a trusted platform to establish the OTC relationships in the first place.

‍

‍

The secret of a good crypto business model is to simply allow for a smooth 24/7 consistent flow of money in and out of the platform. Minimum transaction delays and platform downtime.

‍

Do that long enough and you build trust and a brand that people will depend on for their crypto financial service needs. It sounds simple but surviving is a big part of any successful crypto business. The formula is simple — just be consistent.

‍

It is important to consider that there will be low trading days (crypto winters) and crazy ones (bull markets), but surviving should be the goal as it will be the only way to garner trust in your platform. That is where your business should be operating on an efficient, but tried and true exchange software. You don’t want to get bogged down with the technicalities and you certainly don’t want the exchange down for days. Instead, you need to provide a keen oversight over user onboarding, and marketing, while making sure there is a free and fair flow of money in and out of your exchange system (no stuck deposits or withdrawals). Your users, your customers, shouldn’t notice anything, and it is what they expect. For the exchange system to securely facilitate their transfer.

‍

‍

How to build a crypto exchange?

You can either build it yourself from scratch by hiring developers or purchase a turnkey white label exchange solution. Lean more about the cost benefits of a in this definitive white label exchange guide.

‍

Building it from scratch

If you are looking to build a crypto exchange from scratch, then you will need to hire between 3 to 5 developers. These programmers will need to work on building your exchange for approximately 6 to 8 months.

‍

You can read some ballpark figures on developer salaries in our other article here, which will help you ballpark the cost to build a crypto exchange from scratch.

‍

To reduce costs you can hire remote developers, however, that may result in technical debt (also known as code debt), which refers to how low-quality code can hinder the future scalability of a product as a lot (if not all) of the code may need to be rewritten.

‍

There are also other additional factors to consider, such as hosting packages, purchasing SSL certificates, ongoing product improvements, conversion rate optimization (CRO), and UX design.

‍

Having said that, another alternative you could consider is to outsource the entire project to a web developer and design agency. In view of this, it may not be your best option and may end up costing you more because it is rare for an agency to adhere to deadlines. And, if your product ends up taking longer than expected, agencies may try to charge you more and threaten to stop work — leaving you with a half-built product.

‍

Alternatively, you could also go with a full turnkey solution like the HollaEx, which allows you to set up a fully functional crypto exchange in minutes. This can greatly reduce the time since the entire platform has already been built to be used instantly. Ultimately, this option is a great way to test the waters while at the same time saving countless effort, time, and money.

‍

What you need to know about crypto exchange liquidity?

Liquidity refers to the ease with which an asset can be exchanged for cash. In terms of crypto exchanges, the term refers to the speed with which a trader can complete a transaction in the most cost-effective way.

‍

‍

An entire market can also be considered to have liquidity if the assets therein can be sold and bought easily and at transparent prices. In regards to crypto exchanges, more liquidity is especially important as it reduces the chance of price manipulation because more money is required to effect price changes.

‍

If you are looking to create a crypto exchange with a price equilibrium — then, getting liquidity right will make the exchange platform less susceptible to volatile price swings. This also creates a better user experience, since more traders are attracted to exchanges that can fill orders fast at predictable prices.

‍

That’s because, with higher liquidity, the price spreads get tighter, resulting in more accurate and precise chart formation. On the other hand, a market with less liquidity leads to volatile price swings that skew the chart formations.

‍

Market makers are pivotal to the liquidity of any exchange since liquidity is a function of the makers and taker traders on the exchange. A market maker can be an individual or a company with the specific role of standing ready to settle buy and sell orders regularly.

‍

‍

That said, dealing with liquidity is easily the next biggest challenge after going live with your exchange. HollaEx’s white label solution does however include liquid markets and will cover the market making for you. This might come at a small trading fee cost, however, is a reasonable place to start for any new exchange operator that doesn’t have the market making capabilities to manage their own exchange’s orderbooks.

‍

How to decide on a payment processing system for your crypto exchange?

Cash/fiat payments

Payment processing or fiat on ramping is simply a means for your exchange to accept all sorts of money, from all sorts of platforms. The more the better, however realistically 1-2 on-ramps will suffice. This can be your business's bank account, or/and some third-party payment processor that you’ve to strike a deal with. These ramps will then handle the storage of fiat currencies and may help facilitate the trades.

‍

Note, payment services can even help facilitate in the trade of other cryptocurrencies that are not yet on your platform, however, will charge a fee in some manner for those extra services. These fees can of course be passed on to your customers by increasing the trading fees.

‍

‍

One of the largest services that crypto platforms integrate with for fiat services is Silvergate, a US bank that is open to the budding tech industry.

‍

However, it is important to understand, integrations and fiat systems can be extremely challenging to deal with and might mean some months before a working fiat on-ramp connection is ever made to your exchange. This is often where many business people underestimate the time and red tape. It is good to adjust your business model to account for the time and effort of integrating traditional monies and to consider more modern solutions like USDC or USDT for the purpose of on-ramping.

‍

If however, your venture is ready to take on the challenge of fiat integration then seeking out a white label service that offers a fiat controls system that is crypto-friendly in allowing you to connect with APIs would be advised.

‍

Again, obtaining a bank or on-ramp payment provided that will work with your crypto business can be challenging, but not impossible, as more established fintech services are warming up to blockchain technology. If a proper connection can not be established then using a manual payment processor is the other option. This could simply be posting your bank deposit info to your users at some pace or simply sharing it with them on individual bases. When your users send funds to your bank, you can credit (mint) an equal amount and give those credits (or tokens) to that users on your own white label exchange.

‍

Note, that these third-party payment processors come with varying fee structures. In order for you to maintain a competitive edge and keep costs low, it is better to use a reliable payment processor with low transaction fees.

‍

Custodia Bank is an up-and-coming bank that will mix traditional banking as well as digital assets custody.

‍

One advantage of using a specialized fiat payment process for your exchange is that they can reduce any legal headache that may come from dealing with fiat currencies directly, and they also can be much faster and easier to work with.

‍

With that in mind, shop around and be aware that some payment processors may have hidden fees in their contracts. Read your contract carefully, particularly any fine print in regards to the “settlement time.” Plus, make sure to have your legal team thoroughly investigate compliance with best practice rules and regulations.

‍

What are some consideration around crypto wallets and crypto on ramping?

When it comes to crypto-assets such as BTC, your exchange software should already be handling your crypto wallet in some way or another. This could be an inbuilt wallet or an external wallet for your exchange. The crypto wallet should handle automatically all the crypto processing for deposits and withdrawals, and should allow your exchange to handle the flows of multiple types of digital currencies.

‍

If you’re going to run a centralized crypto exchange, you will need a solid crypto wallet working behind the scenes so that your users can deposit funds. In terms of ease of use, exchanges that do offer a crypto wallet almost ways offer a much better trading experience and a better more convenient cryptocurrency support system for the exchange as a whole. This centralized exchange model as we mentioned earlier in this article has many advantages such as pure crypto wallet monitoring blockchain automation.

‍

That said, it also comes with the responsibility of securing all those crypto funds and their private keys from hacks. The more private keys you store for the exchange the bigger a target your platform becomes for cyber hackers.

‍

HollaEx provides a built-in crypto wallet directly and has been an exchange wallet technology provider and leader in the space since 2016, saving operators major headaches and concerns around their exchange’s security.

‍

The other alternative is to allow your users to connect their wallet to your exchange and trade from their own wallet app with the assistance of a DEX and/or a peer-to-peer market.

‍

‍

How to market a crypto exchange?

Having good marketing, PR, and growth strategy can bring about incredible results in terms of making your exchange stand out. In view of this, it is a lot harder than it sounds. Both sales and digital marketing teams need to be aligned to draw in new customers.

‍

Here are several strategies and tactics you can implement right now:

‍

• PR: Develop relationships with key crypto journalists, podcasters, and YouTubers to generate media exposure for your brand. Additionally, you can also use PR software tools like Meltwater and Cision for contacting reporters at scale; or HARO for responding to reporters that are looking for expert commentary.
  ‍

‍

As an exchange operator, you can be an information source and get coverage for your business.

‍

• Advertising: You can use traditional social ads such as Facebook ads, Twitter ads, and Google ads; or traditional crypto networks like Coinzilla and Cointraffic for banner and display ads. Not to mention, you can also syndicate your content via a platform like Outbrain and advertise to your key target audience.
• Conversion-rate optimization (CRO): Use multivariate testing (also known as AB testing) to test different variations for things like landing pages, email funnel copy, the color of buttons on a website, etc. This is especially powerful when used in conjunction with a landing page (LP) that has an offer (eg. a free ebook download) combined with ads (eg. Google ads).
• SEO: Rank for specific keywords that focus on user intent. You can use tools like Ahrefs and SEMrush to identify what keywords your competitors are ranking for, the search traffic, and intent (eg. if someone is searching for “buy bitcoin” you know they want to immediately buy crypto) behind that keyword, whilst also identifying new long-tail keywords (eg. what is the best crypto exchange in Singapore?) that can bring in traffic.
  ‍

The reality is, there are actually 100s of things that crypto exchanges can do on the marketing front to grow their exchanges. Whilst, during 2017–2020, we saw a lot of ICOs with unconventional ways to market their cryptocurrencies like “airdrops” — the traditional ways of creating and growing a startup, do in fact apply to crypto exchanges.

‍

Things like email funnels (ie. journeys), contributing to relevant news publications and authoritative blogs to share your ideas as a thought leader, viral marketing, PR stunts, billboard ads, TV commercials, outranking your competitors in SEO, refer-a-friend programs, etc. And ultimately, this presents a large opportunity for crypto exchanges to tap into.

‍

What's the best software for businesses to start?

‍The best way start is to start with an exchange setup here, or reach out out to get a free consultation.

‍

Experts with a tech background can start at https://github.com/hollaex/hollaex-kit

‍

For more information on the crypto industry or for updates on HollaEx white label visit Twitter🐦

‍

When it comes to registering a bank account or other financial service you might be asked to come to a branch or some office building in person to complete your registration process. This might mean you’ll have to queue up, and once it is your turn you will have to shuffle all the paperwork all at once, and perhaps you forgot a particular document? Well, that’s just bad luck. Get back in line. That’s still pretty much the experience for financial services, and what a big waste of resources it is for everyone.

‍

Thankfully, because of crypto's global nature, waiting in a queue in person is not expected. However, this can make for a tougher job for both exchange operators to verify each and every individual's photos and countless docs from around the world.

‍

To deal with countless identity verifications coming in from all directions, crypto exchanges had to innovate.

‍

In fact, you can say the crypto industry was the first industry to push and adopt automatic KYC (know your customer) systems because it was one of the only ways the industry could deal with the sheer scale and diversity of user sign-ups. This is even more true during the bull cycles when prices are sky-high. You never want to stop users from coming in during the high times.

‍

‍

With the help of recent advances in image scanning technology, much of the manual KYC processes can be outsourced to specialized services.

‍

These systems work by utilizing cameras on phones or PC and laptops, using smart face recognition algorithms that read the 3D topology of faces to make sure the person is real and that they match the documentation. The data is then cross-checked with various countries' ID formats to make sure with a high level of certainty that they are indeed legitimate documents. 

‍

All this sensitive data is also encrypted in transit and follow a special token system to make sure you and your users are safe every step of the way.

‍

Automatic KYC also allows for better management of sensitive data with encrypted and safe storage, allowing operators to focus on their crypto platform and business.

‍

HollaEx, with the premium automatic KYC plugin is now allowing exchange operators to take full advantage of these recent innovations in KYC tech right on their very own exchange!

‍

‍

The manual system for handling KYC on HollaEx white label exchange system however will still remain. And is an option for those that want to manage KYC and AML themselves, and/or don’t have access to the premium plugin.

‍

But for those that want to reduce their operational workload while improving their user experience, the new automatic KYC system is now there for operators to activate (a one-time activation fee applies). After activation, operators can refill or ‘charge’ the number of user verifications that can be used on their exchange as they see fit.

‍

Along with the new automatic KYC system, there will also be a revamp to the HollaEx Pro Exchange. Any users of the exchange or any budding exchange operator looking to test the KYC system can go to the official HollaEx Pro Exchange and use the system for themselves. The whole verification, if documents are on hand, only takes 5 minutes!

‍

👷 Operator's view of the premium KYC Plugin

As an operator if you want to activate the new automatic KYC system for your exchange, you can do so by navigating to the KYC page on the dashboard, this, however, will be moved to your exchange’s Operator Control Panel in due time.

‍

Simply, login to the dashboard, click ‘KYC’ on the left sidebar (under) ‘Customize’ and you will be faced with information on how to activate the automatic KYC plugin.

‍

Simply click the blue ‘Activate’ button and select the number of user verification you’d like. These verifications are bankable and can be paid for and charged as you go.

‍

Each time a user uses the auto KYC verification service they will be taken to a separate page to complete their verification. This can take 5 minutes as long (if ID documents are ready).

‍

‍

It is worth noting there is a one-time activation fee, after which exchange operators are only required to pay for user verification credits. A 13% discount can be obtained on the credits when buying bulk user verification credits.

‍

Paying for verifications can be done with cryptocurrency, card payment or PayPal and follows a similar payment process as purchasing a cloud plan that can be found on the billing page. Once, directed to the billing page and the payment is complete, you will see the number of verification credits on the left of the auto KYC card, and a now active ‘Download Plugin’ button.

‍

‍

When you download the plugin you will receive a JSON file. To install the plugin on your exchange you should log in as an administrator on your exchange, navigate to ‘Plugins’ and click ‘My Plugin’ tab then click the green button 'ADD THIRD PARTY PLUGIN' and upload the JSON file. This will activate the plugin so that users will be taken to the new automatic KYC page instead of manually uploading files. 

‍

‍

How does it look on a user's profile page? Pretty much the same. When you go to your operator control panel (blue admin) as an exchange operator you’ll be able to see the ID data uploaded from your users in the same place as it would be if you were to use manual KYC. Instead, it is now securely stored with the new KYC system.

‍

‍

As an admin of the exchange, you will be able to override the verifications (accept or reject) of the information as well as add notes for rejections.

‍

An added benefit of using the automated KYC system is that it has an inbuilt AML check system. You also can avoid unnecessary operational complexity when it comes to storing sensitive data, leaving you with fewer things to worry about.

Once all is set the Automatic KYC plugin will replace the manual KYC plugin, in other words, there can only be one KYC system active at a time, either automatic or manual KYC system.

‍

👱 The user view of the new KYC system

For users, they will have an enhanced verification experience that is 5x faster user experience, that is much less cumbersome.

‍

‍

As a user going through the automated verification, you will be taken to a specially designated KYC page where you are asked to select the type of document you have to submit. You can then use the camera on the phone or computer and it will automatically upload it. This could be a passport, driver's license, or government-issued ID depending on the country selected in the first step.

‍

After uploading the document a user will be asked to show their face with instructions on how to position themselves best for the camera. This step is done in 10 seconds, after which they will be required to wait for a few minutes while their information is being processed. From a user perspective, they are done and can return at a later time to their account being fully verified.

‍

If there are issues with the process, the system will automatically request for the user to do the process over.

‍

‍

Overall the speed and accuracy of an automated KYC system are leaps and bounds ahead of a manual KYC system and provide a better overall user experience that is standard for most crypto exchanges today.

‍

🛡️ New user account level tiers on HollaEx Exchange

HollaEx Pro Exchange user accounts will also be getting a revamp. Instead of 10 account-level tiers, they will be consolidated into 5, making for a simpler to follow fee and limit structure as well as clearer requirements to obtain higher account-level tiers.

‍

Just like most other crypto exchanges, to obtain higher account tiers basic verification is required and after which they can be upgraded into Silver, Ruby, Diamond, VIP trader, and Market Makers account tiers, depending on trading volume and XHT balance amount.

‍

Traders that want to obtain higher ranks are required to trade over a certain amount of crypto on the platform (detailed on the exchange) and/or should hold a balance of HollaEx Token (XHT).

‍

XHT can also be used by exchange operators using the HollaEx Kit software to activate features on their exchange such as new coins and trading pairs.

‍

To obtain the HollaEx Token (XHT), simply navigate to the XHT/USDT market and place a buy order with USDT.

‍

Lastly, a special trading account tier for Market Makers is reserved for those that can help provide liquidity to the HollaEx ecosystem and requires the market maker to get in touch.

‍

👉 Get started

‍

If you are an operator of an exchange using HollaEx, go to your exchange dashboard and KYC to activate. Or read more about starting an exchange in this blog post.

‍

If you are a user of the HollaEx Exchange, go to the verification page and click proceed and level up your account tier by completing the KYC process.

‍

For other crypto industry and HollaEx news, check us out on Twitter🐦

‍

–

You can check out iDenfy to learn more about the automated KYC & AML plugin technology used in HollaEx white label exchange.

The big 2.1 update has arrived!

The crypto space is on fire 🔥 lately and with much more crypto infrastructure getting built. At HollaEx we’ve made big strides with exchange infrastructure with our white-label exchange software, and now we’ve got a new 2.1 update to announce.

‍

In exchange white label kit 2.1, crypto builders can do even more with their crypto white-label exchange like the ability to add even more coins to their exchange, with more blockchain networks to select from, and an even better trading UI and UX -- this white-label crypto kit just keeps on giving!

‍

We’ve also reached a significant milestone with over 100 exchanges! It really is shaping up to the best white-label crypto exchange solution out there.

‍

‍

Over 100 exchanges! To check the number of exchanges using the HollaEx just go your dashboard at view the data center at the top of the page.

‍

Before we jump into the HollaEx's 2.1 features, let us review what has happened since the last post. As reported in HollaEx’s September, crypto seemed to be on the verge of going mainstream. And today that seems to be playing out in real-time.

‍

‍

But why? The most likely reason is due to continued money printing. The never ending inflows of cash are finding their way into anything and everything, which in turn causes prices of everything to go up!

‍

‍

Inflation bodes well for crypto assets, so with that said any crypto businesses today are providing a great service to people trying to preserve their wealth.

‍

Businesses and savvy individuals that are integrating crypto technology today are riding the crypto wave of tomorrow.

‍

There is no better time than now to carve out a piece of the crypto market, big or small, the pie is growing.

‍

The white-label software update for HollaEx is a big one, so without further ado let's jump in!

‍

📦 Fully featured cloud exchange plans

Important to note, all cloud exchange users that were on previous plans ‘Pro’ will now be automatically upgraded to the new fully featured ‘Crypto Pro’ plan and will include 1 month free of charge.

‍

Cloud exchange operators can now pick from plans that are purpose-driven. This is different from how plans worked before which were feature-driven.

‍

The big advantage of the new cloud exchange plans is that all features will be included in the Crypto Pro and Fiat Ramp upgraded plans. This just means you won’t have to worry if a particular feature is right for you!

‍

The only major decision required to be made is if you want a crypto-only exchange or a fiat currency-compatible exchange.

‍

The basic plan will remain as it is, a quick start, low-cost exchange plan with the bare bones features like built-in domain and customizations.

‍

Note, the Fiat Ramp plan will require establishing a fiat banking relationship and/or fiat payment processor and a good guide about this can be found in this article under section 5 Titled ‘Decide If You Want To Accept Fiat Currency’, a highly recommended read if you are considering starting a crypto business.

‍

DIY white label exchanges need not worry about the plans and can still enjoy the flexibility and the free model of the HollaEx as it is today. DIY exchange users can plug and trade the major coins which will come with inbuilt liquid markets like BTC/USDT.

‍

‍

‍

Lastly, DIY kit users can still access all the major editing features needed to customize the exchange with the admin panel with small team management.

‍

More materials and information about the plans will be rolled out on the website. To view all plan details you only need an email, simply log in here and complete the crypto exchange setup steps to see the plans in full.

‍

✨Sparkle-sparkle

With a new and shiny UI & UX, traders and operators alike can do crypto in style. The default kit UI has been polished and tightened with more interactive feedback on key elements such as on the orderbook. The overall layout has also been reworked to make the trading experience more intuitive.

‍

There have also been other minor facelifts like adding card/panel backgrounds and extra color hover depths to the exchange.

‍

We aren’t stopping here and with every update, there will be more improvements to the look and feel of HollaEx white-label crypto platform.

‍

One easy-to-recognize difference is the improved navigation. There will be an account sidebar with all the pages that concern the user. Also, there is an announcement bar on the top bar which will allow operators to deliver their message to their users in a nicer and cleaner way.

‍

‍

The UI also includes more color opacity variance to help soften some of the harsh colors of text and divider lines whilst still keeping the 17-color theme system that is easy to edit. In most cases changing only the base and label colors is all that is required to make big visually impactful changes.

‍

And it is not just colored, everything from text and graphics can be changed. Just take the kit and reskin it as you need it.

‍

💉 Console for injecting HTML

Sounds cool because it is cool. The code injected via console is a high-precision feature for when you have that little tech know-how.

‍

Simply input code, small or big, and the changes will magically be added to your platforms.

‍

Like other web builders, you can simply put the code in either <HEAD> and/or <BODY> and publish the changes which will appear fast and on your live exchange. Be sure to publish changes and wait for the reload to complete in order to see changes (see gif below).

‍

‍

Useful for adding extra services on top like a chat service to support your customers or outside analytics tools to help you understand what is happening on your platform.

‍

📖 Backups & exchange logs

Every good exchange operator requires better management tools, and now with the downloadable logs and a backup database button you can have peace of mind that your data is secure. 

‍

‍

For cloud exchange operators they can request a database dump AKA a backup of their exchange and once fully loaded a unique download link will be sent directly to their email.

‍

Logs work the same way, just define the logs timeframe that is needed and a link will be sent to the operator.

‍

🏠 Exchange landing home page

HollaEx white label exchange currently shows users the login onboarding screen first, however opeartors can now show crypto crypto home page with markets and a customizable intro.

‍

All upgraded plans like Crypto Pro and Fiat Ramp plans will be an option for you users to land on a crypto-themed home page where you can better introduce your platform.

‍

Having an inbuilt home page will save you time setting up a homepage on other web builders which can be notoriously difficult to display live market data and other crypto-related content. Instead, all that marketing and communication can be handled in one place.

‍

The home page for now has 3 sections that can be added, the intro text which can be edited like the rest of the text in the kit, a coins/markets list and a quick trade calculator.

‍

‍

Rearranging the order of the sections and making background edits are some of the first editing features that can be done on the landing page with more to come.

‍

Operators can still use an outside web builder like WordPress and in fact, we highly recommend this if resources can be allocated to that, but having an inbuilt HollaEx homepage operators will always have a fast and cost-effective manner to send the message across about their coin and business to their users.

‍

🧱 Blockchain TRC-20 & BEP-20 network connection

The TRON TRC-20 blockchain is now supported as well as the Binance BEP-20 blockchain. This means depositing and withdrawing are now possible with coins on those networks. As well as ability to activate custom tokens on your own exchange that use the TRC20 and BEP20, making it sufficiently easier for new tokenomics systems to be built with the HollaEx white label.

‍

For those creating new tokens and coins on these blockchain networks, they will now be able to add their TRC-20 and BEP-20 coin to the HollaEx network allowing not only them to add their coin to their exchange but allow other exchanges within the network to add the coin too.

‍

‍

This also means for those coins that are on multiple networks such as USDT there will be the option to select exactly which network to deposit and withdraw from. This is helpful when the network is congested and you just need those other options.

‍

🔵🟡🟠 Coins & new markets

Some of the most popular coins have been added to the HollaEx white label eco-system. Operators can add these to their exchange so that users can hold and trade them. Traders can enjoy trading the new coins right now on HollaEx Pro Exchange.

‍

‍

For those running your own crypto project, you can now offer your users XTZ, UNI, TRX, ADA, DOT, DOGE, LTC, USDC and DAI which can be viewed by your users on the wallet page.

‍

For exchange operators and traders, there will be new tradable markets, with liquidity provided free! The HollaEx Network will provide the market pairs for ETH/BTC, XTZ/USDT, UNI-USDT, TRX/USDT, ADA/USDT DOT/USDT, DOGE/USDT, and LTC/USDT.

‍

You can also view the markets available on the white label on the live HollaEx Pro Exchange.

‍

🌐 More local

It's always good to be loud and clear with your user base which is why we’ve added even more languages. Arabic and Portuguese are fully supported.

‍

If you don’t see your language in the kit yet then you can always easily add it with the language and strings editor. Just add and name the new language and edit each string within the list to give it the exact corresponding translation for that language.

‍

Users then will be able to select that language within their setting page. You can also easily switch the default language in the strings and language editor.

‍

‍

🐞General bug fixes and stability improvements

Behind the scenes, things are getting improved to make your exchange run extra smoothly. Allow the kit to manage all the blockchain stuff so that you don’t have to.

‍

Expect faster execution speeds, fewer errors, and more efficiency. These improvements made behind the scenes give crypto builders and businesses out there the ability to focus on what matters in their business like marketing.

‍

😎 In the pipeline

There have been a few much-requested features like an easier way to add SEO features to the site. The coming SEO tools will allow operators to add keywords to help your exchange get found and ranked high on the search engine list.

‍

This will include things like the heading that you see in your browser tabs which typically mention the name of the website but can also include a slogan of some sort.

‍

In the meantime using the console for injecting the SEO is possible and guides online can help with that.

‍

‍

Finally, new tools will be available to help diagnose problems with your exchange, this can help with a lot of the hurdles people may have when trying to connect domains and other issues. This will work similarly to other troubleshooting processors and will give useful suggestions to help get your crypto exchange live.

‍

And those were the major features for HollaEx 2.1.

‍

~Holla!

‍

‍It’s finally here, HollaEx White Label 2.0!‍

Happy Lunar New Year 🌟 in the year of the bull! If you are superstitious, this year should bode well for markets and crypto projects alike.

‍

For those that have been in crypto awhile, traditionally, the Lunar New Year brought great volatility to the crypto markets and we can say this year around the traditions remain true all thanks to Tesla.

‍

To start, it is worth noting that before Elon Musk decided to put Tesla’s balance sheet into BTC there was a notable Twitter engagement on the availability of liquidity in BTC.

‍

Elon inquired “Are such large transactions even possible?”.

‍

Meaning, is there enough liquidity to move billions of dollars through BTC?

‍

‍

And the conclusion was yes, in 2021 there is sufficient liquidity to handle the billions.

‍

So what happens when you couple the ultimate liquid asset with HollaEx 2.0 exchange kit? You get the ultimate white label crypto exchange!

‍

When the kit was first started it was intended to be a neutral exchange software package that can be retrofitted into multiple use cases and multiple assets, and that is very much still true today.

‍

But thanks to the boardless nature and the sheer universality of crypto HollaEx’s white label is now backed by a powerful liquidity network.

‍

So without further ado, let's review what’s inside this white label crypto kit!

‍

‍

Feature 🤑 rich!

Whatever you have in mind, the kit can probably do it. With a little elbow grease and a tooled-out team, anything is possible. Below are some of the major updates.

‍

💧 Let liquidity flow (Feb 18th, 2021)

First, the much-anticipated feature is the HollaEx liquidity network which is simply a series of interconnected exchanges all trading with one another. The first operational pairs will be the two largest markets BTC/USDT and ETH/USDT respectively on February 18th, 2021.

‍

All HollaEx operators that are running an exchange will be able to add these native HollaEx markets from their exchange dashboard, and once the exchange is live those markets will have full order books to trade on from day one, and fully drawn historical price charts.

‍

The interconnected HollaEx Network of exchanges reduces the expensive capital costs of market making and is a godsent for those bootstrapping their newly created crypto platforms.

‍

‍

New liquid markets will steadily be added but anyone is welcome to create their own market on their exchange themselves. This leads to our next feature, coin and market pair creation!
‍

💱 Set them up then pair them up

What makes coins and tokens so special? They are special because they are global by virtue of the blockchain they live upon. This ability to be shared once they are created makes them useful for trading and measuring devices for unlimited business applications. However, the hard part about coins and tokens is getting them paired up, or priced against other assets. This process is called “forming a market”. Markets are how prices are made and discovered. HollaEx’s white-label solution allows anyone to add or create new crypto assets on the dashboard and then pair them up against USDT or a fiat currency.

‍

‍

With an inbuilt crypto wallet, you can create and add multiple crypto coins to your business and provide a way for your users to hold and gain exposure to crypto assets with 24/7 exchange capabilities.

‍

So how does it work? Simply, click ‘create or add a coin’, once the coins are added it can be paired up against other coins in the ‘Markets’ page. Visit the HollaEx YouTube channel for video walkthroughs on this. HollaEx makes it significantly easier to list your assets or any other assets.

‍

Anyone that has a new coin idea can set up the coin on the dashboard, just input the parameters of the coin and submit it for review, and if all the details are provided and a donation made to the network is given. Coins that already exist on the blockchain can also be easily added, simply input the token contract address during the coin setup (video example for ERC-20).

‍

When a new asset/coin has been verified and activated, users on your exchange will be able to see the new corresponding asset on their wallet page which can be used for depositing and withdrawing the asset.

‍

Once, a coin has been added it can now be paired up with other assets to create new market/trading pairs which will be available for trading on your platform (for example MYCOIN/USDT or MYCOIN/BTC). The process is similar to coin creation and requires a final check on the parameters before being activated.

‍

The great thing about the white label provided by HollaEx is its easy step-by-step coin and pair setup which is designed to be highly usable by anyone, and not just financial gurus.

‍

🛠️ Custom crypto exchange

The direct edit features now give the flexibility to customize your platform, here you can add your custom coin graphics, and change the labels/language to suit your business and marketing goals.

‍

‍

Not only colors change between themes but graphics such as the loading gif and other icons can be set to be theme specific.

‍

One novel capability in Kit 2.0 is being able to not only specify different colors for each theme but different graphics, like new loading gifs for each theme. This gives the fine-tuned control required to get things just right on your platform.

‍

‍

This video provides a walkthrough of the customization features available in the HollaEx white label system.

‍

Now that’s customized finance!

‍

👷 Connect with exchange builders

We all want the same thing, and that’s a better financial system that we can all build upon and that actually works over the internet, which is why we started the HollaEx Discord channel. It is all going down in the newly formed Discord channel. Here you can suggest features, help point out bugs, and get tech recommendations when using the HollaEx white label exchange.

‍

‍

There is also the HollaEx Telegram channel and Twitter if you’d like to get compact unintrusive occasional major updates in your daily driver messaging app.

‍

As the open-source exchange software grows so does HollaEx’s Resource, where you can search and find answers to all your https://www.hollaex.com/pricingFAQ.

‍

If you need more hands-on help then the growing community forums are the place to go. Searching the forums and bringing up questions is the best way to get thoughtful and detailed answers.

‍

For those that want the white glove treatment, the cloud subscription plans include individual email support which provides consultation and covers those business-oriented areas and guidance on technology.

‍

Teams that are technologically endowed always go straight to GitHub, where everything is provided free open-source so that we can spread crypto 🌍 to where it is needed the most.

‍

☁️ Automated crypto exchange on the cloud

It is important to note that the kit will remain free to those that set up their exchange themselves and host it and is called the DIY exchange. However, for those that require a little assistance or may want to skip the technical deployment a cloud exchange subscription is available to get exchanges operating fast!

‍

‍

Most other crypto white-label exchange providers will require multiple steps and many more zoom calls before the platform goes live but not with HollaEx’s white label, it is designed for the cloud, and now has a streamlined subscription payment process which, of course, accepts cryptocurrency payments for both monthly or yearly cloud exchange subscriptions.

‍

The subscription as they scale up provides more customized features such as adding a custom token and market, and other branding enhancements. As the base package, everything is provided to go live super fast, and all plans can be downgraded and upgraded simply by contacting sales.

‍

😎 Features coming soon...

Customizable homepage

Many have requested an inbuilt front page or default homepage. This is something in the works and will give crypto projects all the elements needed to communicate the project clearly on a single page.

The homepage like other pages on the kit will have the flexibility to do real-time customizations to the page. The homepage can be turned on via the operator controls and will be the first page users will see upon first visiting the platform. On the homepage, new users can review the content before proceeding to the onboarding (login/sign up) and accessing the crypto goodies inside.

‍

Some new customization capabilities will be added like being able to rearrange the sections on the page and the option to add dynamic elements like live market data (crypto prices) sourced from the exchange itself.

‍

~Holla!

Why is a Bitcoin valued at over $16,000 (at the time of writing), while a single DOGE is worth only $0.10? The intricacies of price discovery could cover an entire college term, but let’s keep it as short as possible.

The key term is the classic ‘supply and demand’: 

• Supply: How many sellers there are - how many people want to pass on an asset for a price
• Demand: How many buyers there are - how many people desire an asset

‍

Both these parties, buyer and seller, are self-centered of course, and so sellers want to get rid of their asset for the maximum amount, and likewise buyers want to gain the asset for the minimum amount.

‍

This results in the following behaviors for the asset’s price:

‍

Supply > Demand => Price falls

Supply < Demand => Price rises

‍

In the crypto space in particular (and similarly in all trading situations) as trades are made, the price is established. Assets are only worth what the seller is willing to part with them, and buyers are the opposite. This ‘tug of war’ results in an eventual agreed-upon trade. Ultimately,  if people aren’t buying (no demand) this results in no price, and the asset becomes worthless.

‍

Let's dive a little deeper into how this works.

‍

First, let's consider where the price we see shown on various sites is sourced. If you take a look at various exchanges, like Binance or HollaEx, or non-exchange sites like Google or Coindesk, you may notice very slight differences.

‍

This gets to one of the vital aspects of understanding. A monolithic, single, price does not exist. Exchanges differ due to having different users with different motivations, and non-exchanges as these have various methods of gathering their ‘single’ price (generally an aggregation of multiple exchanges).

‍

So knowing that non-exchanges get their prices from multiple exchanges, how then do exchanges themselves display a price? A good way to see the fleeting nature of a ‘single’ price can be seen on the Binance BTC/ USDT market. 

‍

Looking at the price it is continually changing, this is because the way exchanges generally define their price is the last trade that occurred. This means that each new agreement between a buyer and seller results in a new price, which for a busy market like Binance’s BTC/USDT one, means a continual stream of new prices.

‍

Expanding our scope to comparing multiple exchanges, we see very minor differences in prices for major markets. This is due to actors known as arbitrage traders who profit from price differences and in doing so, bring the prices across different exchanges close to each other.

‍

Take for example HollaEx Token (XHT), we can see that there are three separate prices over the three exchanges it is offered on. Most of XHT’s activity is on HollaEx Pro Exchange, generally, a higher trade volume indicates a more accurate price.

‍

‍

Let’s take a more (in fact the most) popular asset Bitcoin. Going back to our earlier concept of ‘supply and demand’ what causes the rises and falls that are currently hallmarks of Bitcoin?

‍

The past few months have seen the price of Bitcoin decreasing, and thus we can infer that supply was greater than demand, more sellers existed than buyers, giving buyers the power of which seller to choose, and sellers being pressured into lowering their prices to be the chosen seller.

‍

When the great rise we saw at the end of 2021 occurred, this was due to the inverse. More buyers, therefore more choice for sellers and thus a steady upwards trend on the prices offered.

‍

New tokens or coins exist are more akward. Of course there the lower interest in them means a lower trade volume (how much of a token is moved each day), this means this ‘tug of war’ is not quite as active and thus the settling of price is tricky, and potentially more volatile (positively or negatively).

‍

‍

In summary, prices are just signals of the buy/sell (market demand) activities and single prices are only estimates, but historical price detail leads to the next point, charts!

‍

Candlestick charts, are becoming objects of fascination among a more broad population. The Japanese invented these charts to help price rice back in the day, but let's stay on topic.

‍

Charts are simply the historical record or accumulative timeline of all sales put together in a nice graphic. Without sales, there will be no data, so no chart, and below is the result.

‍

‍

Does this look familiar? Perhaps you’ve rarely seen this kind of chart because it is what token and coin creators want to avoid. The dreaded flat line.

‍

‍

Why does this happen? Well, if we go back to prices and where they come from, being they are an accumulation of all buying and selling activity (trades, sales, transactions, whatever term you prefer), then we can easily conclude that nobody cares to buy and sell this particular token at this particular price.

‍

As you can imagine this is a serious chicken and egg problem. It goes back to markets, marketing, product, and the whole point of smart business. You can only sell if people want to buy. There are however solutions to help jump-start markets and help push, and maintain, price discovery. Praise be to Satoshi!

‍

These services are what we call market-making services, but they don’t come cheap. The market makers job is to simply put buy and sell orders up so that when new people come along looking to buy and sell that there is at least a way for them to buy or sell. This is also called liquidity providing.

Market making can be handled by the token creator, or any one who has an interest in assisting the token. These parties put up their own capital for buying back the token, whilst selling the token at the same time, stimulating that movement and contributing to the chart history.

Their aim would simply be to keep the market balanced so as to satisfy demand from both buyers and sellers of the token. As you can imagine this isn’t as simple as it sounds, however with tools like HollaEx can be made simple. There are even automated bots to do this buying and selling, however, they require some initial capital to run.

‍

How price Charts Work: 

These candlestick charts are fairly intuitive to understand, so let’s take a quick look at the rules of how they get drawn.

‍

The fundamental elements of the chart are the:

‍

• X-axis - The time period, this can often be changed to see long term or short term price changes
• Y-axis - The price of the asset
• Candlesticks - The actual drawn on element explained below

Candlesticks

The candlestick is the primary information element.

‍

In the above image from Investopedia, we can see the archetypal candle. Each period (above uses just a day, but this period could be a week or even minute by minute) has a single candlestick which- conventionally- is green if the price is increasing (opening price < closing price) or red when decreasing (opening price > closing price).

‍

These terms opening and closing price are what they sound like; opening price: is the price of the asset at the beginning of the period, and closing price: is the price of the asset at the end of the period.

‍

The little lines (or wicks as they are called) on the top and bottom of the main body, show the highest and lowest price the asset was bought for within that period.

‍

‍

Let’s look at a quick example to understand this concept. In this screenshot, each candle represents a time of one hour of the BTC/ USDT market on HollaEx Pro, using a white label exchange system to helps with coin price discovery. Looking at the highlighted candle we can see that at the start of the hour (2 pm in this case) the price was around $16,820, and ended the period at just over $16,840. As the opening price was lower than the closing, the chart is colored green. In this period 2 pm-3 pm, the highest anyone purchase was around $16,860, and the lowest was just below $16,800. 

‍

There is a lot more to charts that could be an entire course, but that can be left to another article. 

‍

TLDR  

1. Anyone can set a price (HollaEx OTC makes this easy). However, if people aren’t buying whatever it is being sold then there is no value. No buyers = no prices. To have a dynamic up-and-down price chart, an orderbook is needed with both buyers and sellers.
2. Price discovery is the process of determining the price of an asset through the interactions between buyers and sellers in the market. Prices are determined by the forces of supply and demand and reflect the value that the market participants place on the asset.
3. Price discovery is when people figure out how much something is worth. This has historical occurred on exchanges. Exchanges do this by allowing the action of buying and selling (exchange) within the marketplace between people, or trading bots. The price is decided by how much people want it and how much there is to sell (AKA: supply and demand). This helps us know how much to pay for things.