No wonder cryptocurrencies are the talk of the town. Unlike fiat currencies cryptocurrencies are not bound to any central authority. This has eased enhancing the security and efficiency. In fact, cryptocurrencies have been dominating the fiat currencies these days. This was all possible because of the evolution of cryptocurrency exchange platforms.
A cryptocurrency exchange platform is a software that is used by the crypto investors/traders to buy/sell/trade cryptocurrencies. Being termed as a successful business, crypto trading platforms are being developed by many entrepreneurs. Particularly peer to peer crypto exchanges like LocalBitcoins.
As there are plethora of benefits for developing a crypto trading platform like LocalBitcoins, many entrepreneurs are willing to start a crypto exchange like LocalBitcoins. A feasible way to start a crypto trading platform would be using a LocalBitcoins clone script. In this blog we will be exploring pretty much everything about the LocalBitcoins close script and starting a cryptocurrency exchange out of it.
Table of contents
●What is a LocalBitcoins exchange?
●What is a LocalBitcoins clone script?
●Why LocalBitcoins clone script?
●How does a LocalBitcoins clone script work?
●Features of LocalBitcoins clone script
●How long would it take to start a p2p crypto exchange like LocalBitcoins?
●Where to buy a LocalBitcoins clone script?
What is a LocalBitcoins Exchange?
LocalBitcoins is a popular peer to peer crypto trading platform where there will not be any Intermediate to manage the transactions. Crypto traders from different places can change their fiat currencies into bitcoins in LocalBitcoins crypto exchange platform.
Among the popular cryptocurrency exchanges in the crypto space, LocalBitcoins was able to stay unique. They are popular because they are peer to peer crypto exchanges that do not require a third party to approve the trade. It has builded trust among the crypto investors/traders.
Users can create ads by adding the information such as exchange rate and mode of payment in it. Potential buyers can get in touch with the user who posted the ad and initiate a trade chat. By replying to the advertisement, an escrow protection system is activated automatically. The escrow protection system protects the buyer and seller from fraudulent activities. Until the payment is done, the platform secures the bitcoins of both parties. Along with the p2p secured exchange system, LocalBitcoins has an Integrated wallet that enables safe bitcoins transactions.
What is a LocalBitcoins Clone Script?
Upon the success of LocalBitcoins, many entrepreneurs are willing to start a crypto exchange platform like LocalBitcoins. To achieve that goal they need a premium LocalBitcoins clone script by which they can launch a crypto exchange platform in just 10 days.
A LocalBitcoins clone script is a pre-developed white labeled software that incorporates every feature and option provided by the LocalBitcoins exchange itself. With the help of a technical team, crypto entrepreneurs can launch a crypto exchange similar to LocalBitcoins efficiently. There is a myth that clone scripts are bug filled. There are some providers in the market who are providing bug filled scripts. But, if you approach a reliable clone script provider, you can make a way through the lame clone script providers.
Why LocalBitcoins Clone Script?
In general, the crypto exchange business is a well known profitable business model. Even so, many entrepreneurs prefer this type of crypto exchange to develop as a business. Because LocalBitcoins is a peer to peer crypto exchange that does not involve any third party Intervention. So, this type of crypto exchange has a huge audience base in the crypto space. LocalBitcoins had 1.4 million active users in the last year. Eventually, the revenue generated last year had a 10% increase. LocalBitcoins provides a completely secured escrow system that ensures the protection of bitcoins from the seller and buyer side.
These inviting functionalities could be a major factor to enhance the user base of this crypto exchange platform. Many entrepreneurs also prefer his exchange platform for it’s inviting features. The best option to develop a crypto exchange platform would be opting for a LocalBitcoins clone script. Unlike traditional software development, clone scripts require less resources, time and money to develop a crypto exchange platform like LocalBitcoins exchange.
How does LocalBitcoins Clone Script Work?
It is an advanced software that helps you to kickstart your crypto exchange similar to LocalBitcoins. You should know the basic workings before developing it.
●Both buyers and sellers should register with the respective details of theirs.
●By providing these Informations, they have to complete the verification process.
●After the verification process, the sellers can host the advertisement. The buyers can view the existing lists posted by the sellers of the same.
●Buyers can choose a deal from the list and after selecting the payment, they can wait for the seller to respond back.
●After confirming the seller’s response, they can make the trade.
●The trade should happen within the proper time frame. If it is not, then the trade will expire.
●Till the transactions are complete, it will be holded by the crypto exchange admin.
●Then the admin can make the respective transactions to the seller and the buyers account.
●In case of any disputes, the admin can resolve after analysing the situation.
●If the transactions are done, they can make another trade if required.
Features of a LocalBitcoins Clone Script:
We have gone through the essential information required for the crypto exchange developy like the LocalBitcoins exchange. Let’s move on to the factors you should check out.
●Cryptocurrency wallet Integration
●Over the counter trading (OTC)
●Ad based trading
●Integrated chat bot
These are some of the basic features of the LocalBitcoins clone script. You can also get the salient features from the reliable LocalBitcoins clone script provider.
Salient Features of a LocalBitcoins Clone Script:
1.Secured escrow trading
2.Quick buy sell option
3.Peer to peer trading options
7.Bug bounty program
And many more.
How Long will it Take to Launch a Crypto Exchange Platform like LocalBitcoins?
The development duration varies on types of the platform development. If you are opting for a traditional software development method that is developing from scratch could require about 6-8 months to complete deployment. It may require you more if your requirements are quite complex.
However, if you opted for a LocalBitcoins clone script, it will not cost you much and it requires only 10-15 days to complete your entire crypto exchange development. Based on your requirements, your crypto exchange platform development could extend to 20-25 days max.
Where to Buy a LocalBitcoins Clone Script?
You can get the white label LocalBitcoins clone script from a reliable clone script provider.
It is a crucial and the most vital part of the entire crypto exchange development. You have to be cautious about choosing a reliable provider. You may end up buying a cheap and bug filled script. Before buying the script ensure the factors below.
●Check the company’s reviews.
●Get the demo of the script and check the features.
●Check the ratings in all digital mediums.
●Talk to the blockchain expert from the company.
●Ensure the regulations of the company’s country.
●Ensure the team has end to end crypto exchange solutions.
TheCryptoApe is one of the best cryptocurrency exchange development company who are experienced in providing clone scripts of various popular exchanges that can help you to start your crypto exchange platform instantly. Ig you are looking for the best LocalBitcoins like crypto platform, TheCryptoApe is the only affordable solution for your business.