How To Start a Cryptocurrency Exchange Like Localbitcoins
How To Start a P2P Cryptocurrency Exchange Like Localbitcoins?
You can start a cryptocurrency exchange like localbitcoins with the use of premium localbitcoins clone script. Since localbitcoins is the most wanted and easy to trade cryptocurrency exchange platform, it has inspired a lot of business people to start a similar crypto exchange along with similar ad-based cryptocurrency trading. Bitdeal is the early cryptocurrency exchange development company, who has initiated to serve localbitcoins clone script for potential clients from all over the world. In this article we are going to cover the steps to launch a cryptocurrency exchange like localbitcoins, business benefits of starting a cryptocurrency exchange like localbitcoins, revenue model of localbitcoins clone, and how bitdeal can help you in starting an exchange like localbitcoins.
What is LocalBitcoins?
LocalBitcoins is the leading Peer to Peer Bitcoin trading platform with no KYC for buying and selling bitcoins. LocalBitcoins works follow Escrow Concept for the trading of bitcoins on this platform. It also facilitates over-the-counter (OTC ) trading of local or fiat currency for bitcoins.
To know more about the Bitcoin Escrow Concept, just have a look at our article : Bitcoin Escrow Script To Start Escrow Service Like Bitrated.
LocalBitcoins allows you to sell, buy and manage bitcoins on bitcoin wallets both in online and offline ie., hardware and software wallet storage available.
Headquarters: Helsinki, Finland
Founder: Jeremias Kangas
Year: June 2012
Operating at : More than 248 countries including the United States.
How does LocalBitcoins Work?
Here is the explainer video that explains, how to buy bitcoins via the p2p exchange localbitcoins.
Let us have an overview on working of LocalBitcoins or the steps to be followed while trading on LocalBitcoins.
- First of all, the seller has to create an online sell bitcoin advertisement which allows him/her to choose payment methods, set pricing and terms of the trade as a free message.
- The customers are able to open or send trade request from your sell advertisement, only when your localbitcoins wallet is funded with bitcoins. Thus next step after creating the advertisement is to fund your wallet with required bitcoins.
- When a customer/buyer opens a trade from your advertisement with you, then the required amount of Bitcoins for the trading process will be taken from your localbitcoins wallet to escrow automatically.
- Once the buyer has paid and pressed the I have paid button then you will be notified via e-mail, SMS and on the website through which the payment has been done.
- After your confirmation on receiving the payment, the bitcoins from the escrow moves to the localbitcoins wallet of the appropriate buyer.
- The final step allows both buyer and seller to place feedback. Hence, Feedback is important in order to gain the reputation of both buyer/seller and exchange platform too.
How To Start a P2P Escrow Exchange Like Localbitcoins?
Creating an exchange like localbitcoins, must need expert involvement. We have attached a special and exclusive requisition option to claim a free demo for our localbitcoins clone script, bitcoin escrow script. Based on the details you provide our representative will reach you within 24 hours, to describe everything regarding how to start an exchange like localbitcoins.
Steps to launch a cryptocurrency exchange like localbitcoins
- Draft the business plan.
- List out the requirements
- Find best development resources most preferably a cryptocurrency exchange development company.
- Purchase a localbitcoins clone script after a detailed analysis, and comparison with other companies.
- Escalate the improvements needed in the localbitcoins clone script to the seller.
- If you need any design, technical and development assistance, hire some dedicated cryptocurrency exchange developers, so that you can reach our project timeline on time.
- Finalize the improvements, and test locally the beta version of customized localbitcoins clone script.
- Choose a preferred country where you want to start your business, and launch your trading site along with the support of potential developers.
Reasons to Start an Exchange Like Localbitcoins
Highlights of LocalBitcoins Exchange
- The largest P2P Bitcoin trading platform with over 1 000 000 registered users and trade volume of $11,325.37 USD which has a global marketplace.
Source : CoinMarketCap
- LocalBitcoins supports more than 248 countries to Buy/Sell Bitcoins with their local currencies which does not require verification of KYC.
- LocalBitcoins.com is decentralized, ie., you can make a trade directly with another person without the involvement of admin or third parties.
- LocalBitcoins allows users to buy and sell bitcoins through the process of posting an advertisement on a website along with trading rates and payment methods.
- The notable thing in LocalBitcoins is reputation and feedback mechanism for finding and filtering trustworthy traders on the exchange.
- Users of LocalBitcoins are free to fix their own price and limits for their trading, ie., no limits for buying and selling Bitcoins.
- LocalBitcoins supports a wide range of the payment methods, in which Cash Deposit is the most popular method of payment.
- ID Verifications or any other KYC information verifications are not required in LocalBitcoins other than an email address to signup/Login. Only some buyers or sellers may request identification before trading.
- The payment method has an effect on the speed at which your bitcoins are available. Buys made with Cash Deposit payment method delivers bitcoins within an hour. Most of all, In-person cash trades are easier and faster to organize.
- LocalBitcoins charges a 1% fee on all trades. Fees may vary in accordance with the payment methods.
- Customer Support systems are available to help traders on time of exchanges in the site. The email support system is also present, to support traders through mails. LocalBitcoins also provides forum platforms where you can place your queries and their experts will clear you with support.
- Dynamic pricing system with hundreds of sources that ensures the prices you made are always up to date.
- LocalBitcoins contains API that allows you to make your own trading applications to an automated one.
- The trading services on LocalBitcoins adopts Escrow Protection which provides the safest platform for both buyers and sellers.
- Overall, LocalBitcoins is one of the largest P2P Bitcoin Exchange Platform which allows for an easy and quick way to buy and sell bitcoins.
Business Benefits of LocalBitcoins Clone
Here let us look at the top-most benefits of LocalBitcoins Clone.
- You have the control to set the transaction fees for the traders who buy/sell Bitcoins.
- On each and every transaction on your exchanges, you will earn the commissions.
- All the transactions get completed only when the commission amount gets transferred to your wallet account.
- In, Local Bitcoins Clone the transactions are made with ultra-high security and faster execution.
- User-friendly dashboards of LocalBitcoins Clone allows traders to easily buy and sell bitcoins.
- The integrated feedback system helps users to rate the trustworthiness of Buyer/Seller and also your exchange platform.
- It allows users to promote their needs/availability of Bitcoins through the creation of advertisements.
- Integration of 100% secured Escrow Wallet in the LocalBitcoins Clone provides a complete buyer/seller protection.
These are the main benefits of buying or starting a LocalBitcoins Clone.
LocalBitcoins Clone Revenue Model : Admin
Ads Calculation In Both Side
Max and Min Check
Chat Set in Node.js
LocalBitcoins Clone Script Free Demo
Check out the free live video demo of our premium localbitcoins clone script, this short video is showcasing only the basic features, if you want to check the full video you can check it at bitdeal by contacting our representative via whatsapp, skype, telegram, or via direct mail.
How Bitdeal Can Help You?
We, Bitdeal - Leading Crypto Exchange Clone Script provider offers the clone scripts of top exchanges to start your crypto exchange as like LocalBitcoins, Poloniex, Coinbase, Binance and lot more. We develop and deploy the best LocalBitcoins clone script with wide payment methods, additional trading features,multi-currency and multi-language support and lot more to stand best in the crypto market.Having an idea to start your own bitcoin exchange platform as like LocalBitcoins? Then, buy the LocalBitcoins clone script from Bitdeal Now !!