A Complete Guide To Start a P2P Exchange Like WazirX
Wazirx, one of the prestigious P2P Indian Cryptocurrency Exchanges came to flash out in the news headlines after it was acquired by the world-class Crypto Exchange Binance. For the past four months, i.e in the COVID-19 pandemic, the trade volume of this exchange went high and high, its growth rate is calculated as 160%.
When it Comes to Crypto Exchange Development, The must need things to check out in the business model are ROI, popularity among users, integrated features, and functionalities.
You are lucky Wazirx is at its best in the above-mentioned factors!
How to Build a Crypto Exchange like Wazirx?
The perfect and smartest way to build a Crypto Exchange just like Wazirx is none other than Wazirx Clone Script.
Wazirx Clone Script
Wazirx Clone Script is the customizable white-labeled website Script/ Software integrated with basic features of Wazirx. Any business person can instantly launch their own exchange like wazirx with this script as the source and that exchange will function like the twin of the Wazirx Exchange.
Features of Wazirx Clone Script
We Bitdeal, regularly update the Script up to the market trends, and here is the list of some features that are available in the Clone Script.
- Multiple Cryptocurrency wallet
- Escrow Integration
- Super-Fast Trade Matching Engine
- Integrated Trading bot
- OTC Trading
- Futures and options trading
- ERC-20 Ethereum Tokens and TRX Tokens Support
- Cryptocurrency staking
- Bounty Features
- Atomic Swap
Wazirx Business Model
Wazirx is the pure P2P Cryptocurrency Exchange, where trading happens end to end with an automated super fast trade matching engine. This Exchange acts as the platform where one can buy or sell Cryptocurrencies easily with bank payment.
In P2P Crypto Exchanges, the Escrow wallet plays a vital role. Here Wazirx acts as the Escrow account between the transaction.
How Does It Work?
Let’s categorize it as two-sector, Buyer and seller
Buyer - who wants to convert money to crypto
Alice wants to buy Bitcoin in the Exchange, she placed a buy order
- The trade matching engine matches the trade with the desired sell order
- Alice sends the amount to the seller’s bank account
- Seller sends Bitcoin to the Wazirx Escrow wallet
- Seller confirms the Payment to the Exchange
- Wazirx Escrow Wallet releases the bitcoin to Alice Wallet
Seller - who wants to convert crypto to money
Alice wants to sell bitcoin in the Exchange, She placed a Sell order
- The trade matching engine matches the trade with the desired Sell order
- The buyer sends money to Alice’s bank account
- Alice sends Bitcoin to the Wazirx Escrow wallet
- Alice confirms the buyer’s payment to the Exchange
- Wazirx Escrow wallet releases the bitcoin to the buyer’s wallet
Key factors to Considered
It is the first and foremost thing in starting the crypto business, Choose the country that has crypto-friendly rules and regulations. Some countries like Malta, Singapore, Switzerland, Mexico, etc, have created good ecosystems for cryptocurrencies and Blockchain.
In the month of March, the Indian government removed the ban for Cryptocurrencies and after that, Many Indians became interested in virtual currencies and crowded in crypto Exchanges. Here Crypto Trading is possible with the Banking system
Building the Crypto Exchange is like building a corporate, you need the many resources for development and Maintenance.
Fortunately, Wazirx Clone Script reduces your efforts in the development process but for maintenance and management, you need to build a strong team as the backend for future enhancement.
Put users in mind and design websites. Assemble navigation bars, features listing in a simple and understandable manner. It not only gives a pleasant look but also saves traders time and encourages them to proceed to trade on your platform. Choose attractive colors and do check the layout designs of popular crypto exchanges.
Customers are the backbone of any business. Building the proper customer support system with the team of consultations in the technicians will help you in gaining traders' trust and much necessary for the growth of the organization.
Officially announce your Exchange with the norms and your own terms and conditions. Get a Proper license for your business and don’t forget to add KYC and anti-money laundering on your site
Wazirx has adopted an innovative marketing strategy with binance. Recently it conducted Kaun Marathon which is the kind of competition to find out the highest trader of the exchange and it has also Invested 50 Million $ worth blockchain-related projects in India along with binance.
Wazirx has added a referral program on its website that lets users make money by just sharing and referring Wazirx Exchange to their friends. Once the referred person trades on the exchange, the referrer will earn 50% commission and the amount will be credited to the user within 24 hours. You can also start an innovative referral program like this and get traffic to your exchange.
Likewise, spot out the innovative marketing strategies and attract users in a unique way.
How Much does it Cost To Develop an Exchange like Wazirx?
The Cost of the wazirx clone script varies from $1000 to $4000 depending upon the API used, features integration, layout design. We also develop Premium Wazirx Clone Script that actually requires low customization.
What’s new with us?
Exclusive Wazirx Clone Script with Crypto stacking features.
We never delayed updating features, very recently wazirx has added a Crypto stacking feature in their exchange so that users can earn interest with the annual rate of 2 to 16%. We have updated our script with the Crypto stacking feature.
Who We are?
Bitdeal, a leading Cryptocurrency Exchange Software Development Company, provides precise solutions to the clients based on their own business requirements. We develop and deploy bug less Cryptocurrency Exchange Clone Scripts and uplifted many Startups as the standard Cryptocurrency Exchange Platform
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