Of all the activities related to cryptocurrencies, running an exchange may seem out of reach for many. However, there are white label solutions that allow you to enter this market, but often with very high prices. The solution offered by HollaEx has the merit of offering ease of use and configuration, advanced features and very attractive prices.
To describe things quickly, HollaEx is a white label cryptocurrency software suite where one has access to a wide range of DeFi and CeFi services. The solution enables the buying and selling of cryptos and its own tokens, with pricing tools and trading interfaces as well as user wallets for deposits and withdrawals. The service can be hosted on a dedicated server or on a cloud offered by the publisher.
Holla International Ltd, the company that manages the HollaEx exchange network is based in the Seychelles, (a country whose legislation is favorable to the blockchain environment), but its origins are rather in South Korea. To manage its ecosystem infrastructure, HollaEx has issued its own token (XHT) that exchange owners can stack in exchange for additional functionality.
An easy grip
Currently more than 130 exchanges are operational via the HollaEx network. To create your own, the process is relatively simple and inexpensive, with the plans offered starting at $300 per month.
According to the publisher’s promises, all you have to do is follow a configuration wizard and everything is ready after about thirty minutes. However, special care must be taken to master all the settings and customization options.
It is also possible to offer an interface in French; although the translations are not complete and it is necessary to finalize even manually a significant number of missing translations.
With that done, your users can now connect to your new exchange. Functionally, regulars of traditional exchanges like Binance or others will not be out of place.
For the owner of the exchange, the major advantage is that the liquidity is already provided by HollaEx: nearly thirty cryptos are already available (the list is constantly evolving), exchanges being done exclusively via USDT pairs.
So, for example, if one wants to convert Litecoin (LTC) to Cardano (ADA), one must first convert Litecoin to USDT, then convert USDT to ADA. The only exception being the Bitcoin (BTC) / Ether (ETH) pair, exchanges between these two cryptos can be done directly.
It should also be noted that transfers in USDT, the pivot of the platform, are made indifferently on the ERC-20 (Ethereum) or TRC-20 (Tron) networks.
Afterwards, the HollaEx network being open, nothing prevents you from creating your own pairs if you have the liquidity for it.
And, more interestingly, it is possible to list your own tokens, based on ERC-20 (Ethereum), BEP20 (BSC) or TRC20 (Tron), on your exchange! This is one of the major features offered by HollaEx: each creator can easily distribute their tokens through their platform (they will be paired with USDT by default), while avoiding the extreme complications of the main exchanges for be listed there (exorbitant fees, long and tedious administrative procedures).
A full range of features
The platform administrator has at his disposal a whole range of options to manage the activity of his exchange:
- Any self-respecting crypto exchange should offer proper KYC. HollaEx provides all the adequate functionalities for this, but the activation of a KYC is optional and the sole responsibility of the exchange owner: it is up to him and him alone to be in good standing in the jurisdiction that he chose during the creative process.
- For novice users, a “Quick Trade” option makes it easy and quick to place orders and execute them immediately at the current market price.
- For more advanced users, order placement is market-based, with standard stop or limit orders using a professional trading interface.
- Two-factor authentication via Google Authenticator can be enabled
- Your users can be assigned to different account levels that offer differentiated thresholds in transaction fees and deposit and withdrawal limits, with configurable requirements to access them.
Integrate a Fiat payment system
Trading USDT pairs or other cryptos is good, but often not enough. Adding a FIAT payment processing system is a highly anticipated feature and perfectly possible with HollaEx. But here, we clearly enter another dimension, because this aspect actually depends more on the operator of the exchange than on the HollaEx kit itself.
Indeed, you must establish connections with a bank or a financial service which will provide you with the component ready to be added to your service via its APIs.
And to do this, it is necessary to make agreements with these establishments and therefore to follow authentication procedures and file applications for cryptocurrency trading authorizations with your jurisdiction. This implies having a substantial size and funds. In addition, to activate this option in your HollaEx space, it is necessary to subscribe to the appropriate plan and to stack 500,000 XHT, or approximately 120,000 dollars at the current price.
Add to that a very responsive 24-hour customer support service and volunteers on the Discord and HollaEx forums who are ready to lend assistance to newcomers. And for 2022, new DeFi features such as staking and even swaps will be gradually rolled out. The offer proposed by HollaEx is therefore in full evolution and makes it possible to democratize access to cryptocurrencies and tokens for the benefit of all..