Posted on February 26th, 2019 by James Florentino
Since the introduction of Bitcoin, the number of cryptocurrency wallets has surprisingly grown exponentially in the last 3 years alone. There are now about 32 million active blockchain wallets, and this is seen to further rise to as high as 200 million by 2024. These blockchain wallets houses around 2,000 cryptocurrencies, and are traded in 233 virtual currency exchanges operating globally.
A trusted cryptocurrency exchange can have an average daily trading volume of US$600 Million. And almost daily do we see more ICO projects getting their tokens listed in these exchanges, which adds liquidity and more so generates interest on cryptocurrencies by the investing public.
The explosive growth of this new asset class therefore begs the question – should one launch an exchange platform to capture an imminent opportunity from the rise of digital tokens and coin applications? The answer from every corner of the crypto space is a resounding YES.
But it is easier said than done. And it is not easy to start an exchange from scratch. The biggest pain point of most entrepreneurs in the blockchain industry is to organize a team of blockchain engineers and a competent IT project manager to execute and deliver – from start to finish. The financial cost and mental strain can make most aspiring technoprenuers give up before they can even start building their exchange.
So, is there a solution in the market right now to resolve this challenge? Apparently, there is:
First, one has to decide on the jurisdiction of the exchange, ergo – where you want to incorporate the company and the country in which you wish to operate. It matters so much – as there are different legal requirements per country on how they either embrace or snub ICOs/STOs. Each country has their own regulation on virtual currency exchanges – the friendlier ones being Malta, Singapore and some parts of the EU.
After you have decided, and have secured all the legal requirements prior to the operation of your virtual currency exchange, you can now connect with us, here at MergeCommit and we will deliver and set it up for you in just 30 days.
The best part is, your cryptocurrency exchange comes with a pool of experienced blockchain engineers from MergeCommit - who will set up, design, test and run your virtual currency exchange. And that leaves you without the stress and hassle of finding the proper competence to build your own exchange. It is not that easy to find experienced blockchain engineers.
We at MergeCommit have invested so much in the intellectual growth to foster the competence and competitiveness of our blockchain engineers. And over the last 3 years, we have developed the Andromeda Exchange platform – which is a customizable virtual currency exchange that can be suited to your specific needs and requirements.
[Andromeda](/andromeda] is a white-label, multi-tenant virtual currency exchange platform that lets your company launch multiple exchanges under one system.
Either you are an investor, developer or an ICO that wants to launch an exchange, Andromeda can be tailored fit to your needs by our blockchain engineers. First we listen to you, design and customize the exchange, test it, launch it and even run the platform for you – so you can focus on the more important and salient points of your business – client engagement.
Our VC Exchange solution comes with a suite of applications that lets you easily customize your exchanges under Andromeda. An Andromeda Software License comes with a web application middleware that interfaces with the Andromeda Core API.
No need to setup the client to server communication. Everything is coded already for you. You get the CSS, React Components as well as the pre-written client-to-server (C2S) and Server-to-server (S2S) code.
All you have to do is change the skin of the exchange.
We know the importance of having support for multiple native coins. This is why our mission is to provide our customers with long-term continuous support both in mainnet and testnet networks.
BTC | ETH | NEO
ERC20 | NEP5 | Stellar
Ever find yourself launching multiple ICO projects that target different markets? Each exchange has its own order book. The liquidity is isolated per exchange.
In Andromeda, all the ICO exchanges that you launch will be able to match their buy and sell orders together. This allows you to build a unique brand per ICO exchange, but still consolidating the orders into one order book.
Interested to start? Get in touch with us today!