How To Run Your Own Cryptocurrency Exchange With The HollaEx Kit
Many people would love to run their own cryptocurrency exchange, yet they do not always possess the necessary technical knowledge. Additionally, many developers want to create a new crypto token, yet they worry about finding the proper exchange or marketplace. The HollaEx Kit can solve all of these concerns and more.
Designed by South Korean company veterans, the HollaEx Kit is an all-in-one and open-source white-label exchange solution that lets anyone run a complete crypto trading platform. Rather than learning how to code, operators can use this kit to simplify the setup process and get up & run it within mere minutes. All one needs to do is host the software, complete the setup process, select coins, and name the exchange, and yes, the marketplace is ready for use. Now, you only need to find users.
The Basic Requirements
Anyone can complete the entire setup process involving the HollaEx Kit in seven steps. Moreover, anyone can run it, which is a great low-cost way to experiment with the options available to them. If dealing with servers is not your thing, a basic low-cost cloud exchange is also available.
Up-and-coming exchange operators will need to prepare a server or computer to host the software, a process that will require a bit of effort. Logging in and finishing the 5-step exchange setup is probably the quickest way to get started – just visit the exchange dashboard.
Once that process is completed, it is time to get your computer/server up and running.
Some system requirements can be reviewed here but suffice to say; it is possible to operate a full crypto exchange with this white-label solution with as little as Raspberry Pi.
It is best to follow the tutorial steps before proceeding for those who prefer setting up the HollaEx Kit in a Windows environment. The Windows kit is still in beta, whereas the Unix-based version is a more stable build.
As HollaEx Kit uses third-party service to provide functionality pertaining to end emails, site security, crypto-asset management, and image storage, users will need to ensure they can run SMTP Server and Google reCaptcha on their computer/server. AWS S3 for image storage is optional, but it is best to achieve optimal exchange operations.
The HollaEx Kit has built-in liquidity for all the major cryptocurrency markets – including BTC/USDT and ETH/USDT – which means your exchange order books from day one will be full upon your exchange’s launch. Very cool!
This means that exchange operators won’t need to wait for new users to find their exchange and be the first to buy or sell orders. With built-in liquidity, everyone who accesses your exchange will be able to begin trading right away.
Option 1:The CLI Method
As mentioned before, the HollaEx Kit is designed to work in a very open-source way, which means you can do it all yourself, requiring a little knowledge around using a CLI Command-line interface. It might not be for everyone but suffice to say, the HollaEx Kit does have to deploy a crypto exchange via the CLI easily compared to other software out there.
The CLI, if you know what you are doing, is the easiest way to get up and running with the HollaEx Kit. There is a detailed video guide or just follow the docs here on how to complete this process. It is the ultimate free white-label exchange solution path, although it may cater more to experienced developers and enthusiasts.
For those who prefer a different option, there is a cloud exchange five-step setup process outlined below.
Option 2: Exchange General Setup
Go to the exchange dashboard, login, and click the create Exchange button located in the center of the page. This will take you to the Exchange General Setup page designed for seamless white-label exchange building.
The Exchange General Setup is where you will set your exchange’s general settings such as the exchange name, logo, assets and trading pairs, etc. The General Exchange Setup is split into six parts: General, Branding, User Account Levels, Asset Setup, Trading Pair Setup, and Plan & Hosting. Each part is easy to follow and includes detailed descriptions for each of its settings.
Once you arrive at step five (Plan & Hosting), there are three cloud plan options for your new exchange:
- Basic: Fastest way to test the software out and comes with a cloud exchange hosting and built-in domain. With limited features!
- Crypto Pro: Crypto to crypto exchange for those looking to start something serious. It comes with all features.
- Fiat Master: Allow businesses that already have a fiat payment processor. It comes with all features and allows for a fiat money connection.
Once the Holla-Cloud has been selected, you will be taken to the dashboard where you can configure coins and connect a domain name or use the inbuilt domain name provided; this will look something like ‘exchange.bitholla.cloud’. This domain name can be changed on fully upgraded plans.
Keep in mind a small fee is required, or your exchange won’t be able to go live. The lowest-priced option works out to be $225 per month if paid annually—a small cost to pay for a fully-fledged liquid crypto exchange franchise system.
That’s it! Your exchange can now onboard new users, handle cryptocurrency transactions, and much more!
Browse all the exchange pages and enjoy the fruit of your labor. If you’d like to know how to customize your exchange further, read the bonus steps below.
For further steps, there are several plugins to explore. The plugins section aims to make everything plug-and-play and offers a kind of exchange apps store for your crypto project.
New features to add include SMS functionality, announcements drop-down, and user verification procedure forms to gather user data, among other cool things.
To Sum It Up
This white-label cryptocurrency exchange solution is a viable solution for anyone in the world to do crypto in a business capacity.
Without this tool, you’d have to go through complex crypto wallet blockchain setups, which come with security issues. You’d also need to build the whole interface and user management system, all of which can be very complex to connect with each other.
Instead, within minutes, anyone can start a crypto project like an exchange without worrying about the technicalities. It can even be retrofitted for other purposes besides an exchange, like a crypto wallet or just an efficient, safe way to share coins.
The process is streamlined, convenient, and easy enough for novices to understand. There are more in-depth information guides if you want to get into the weeds, although perhaps a little dated, it gives a good overview of what is involved if you want to take it to the next level DIY style.
Utilizing the open-source, public community forums and official dev Discord channel is also reassuring when you need support.
Extra Reading – In-depth Guide Analysis of HollaEx Kit
The HollaEx Kit web client provides an admin panel that simplifies the addition of third-party services. Whether one wants to include a native email server, reCAPTCHA authentication, or run everything off an Amazon Web Server, the possibilities are all outlined in this technical guide.
Unsure if starting a crypto exchange is for you? Read this detailed article on the advantages and disadvantages of running an exchange.