Cryptocurrencies can earn you profit not only by trading them but also by setting up your own crypto exchange. But to create your own business on the crypto market, you will need to understand the structure of the crypto exchange as well as its main sources of income and expenses.
Crypto Custody Services – Currency “Banks” Inside Exchanges
Nowadays, unprecedented numbers of deals with various cryptocurrencies are being performed on crypto exchange platforms. This requires secure access, quick transfers, and precise accounting tools. Crypto Custody Services offers help with all of this – in essence, it plays the role of “banks” within crypto exchanges. These banks can be linked both in the form of third-party services and as completely integrated systems.
Today, the market is abundant with supplies of services to support hot and cold wallets and store cryptocurrency for businesses. Some of the most popular suppliers are:
These companies provide modern and secure infrastructure for crypto exchanges. Such infrastructure can be integrated into any payment, trading, or cryptocurrency exchange system.
The Cost of Crypto Custody Services
To use CCS, a company will have to spend on average US$5000-10000 a month, excluding installation and set up costs. To use all the functionality of its services, in some cases you will have to keep permanent fund reserves of US$500 000 – 1 000 000.
To compare, creating a service like CCS might cost you multiples of CSS’s maintenance costs and will take several years to develop it.
Ready-Made Crypto Business
However, there is a more affordable solution to create a business in the crypto industry. This solution is a ready-made crypto broker. To use it, you do not have to rely on Crypto Custody Services, but at the same time, this solution combines the functionality of crypto exchange and the simplicity of internal infrastructure. The total monthly cost of everything, trading platform and web-services for clients included, is just US$2000
UTIP is ready to offer such a solution to bring together all the necessary functions so that you can start and develop your own crypto business.
The company also offers consultation services and is ready to help its clients with any issues related to the crypto business, among its many other services.
Disclaimer: This is a paid post and should not be treated as news/advice.