This content originally appeared on DEV Community and was authored by hassan mahmoodi
What is a clone script?
clone script is the architecture of an existing website. These scripts are suitable for entrepreneurs to start an online website. The purpose of clone scripts is to help businesses launch their exchanges so quickly and at a lower price.
Localbitcoins clone scripts
For starting a peer-to-peer bitcoin exchange website like LocalBitcoins, using localbitcoins clone script can be a good choice. Because LocalBitcoins clone script contains all the features and aspects of the localbitcoins. It helps to develop a website like localbitcoins with some customizing features. The localbitcoins clone script is completely tested and debugged.
Localbitcoins is a p2p crypto exchange platform that connects the buyers and sellers of bitcoins. Localbitcoins uses its user’s location to connect the sellers and buyers who are close together. So if you want to trade bitcoins you don’t need to trade with people far from yourself. Localbitcoins is known for its fast transaction process and high security and liquidity. In the localbitcoins platform sellers can post an ad for buying and selling bitcoins or they can choose among the existing ads. They provide their condition in the ad, by replying to the ads a chat box will pop up to make the communication easier for the traders.
Why develop a website with clone scripts?
Faster development: a clone script is readymade software which means it doesn’t need all the time and effort to develop from scratch. So this readymade platform will be customized easily and in less time. So you hit the market faster.
Cost-effective: we have understood that clone script is developed from an existing website, so it needs less effort than developing a website from scratch so the less effort needs the lower the cost will be.
Market view: the clone scripts are mostly developed from successful and popular websites. It means that website has shown its features and usability. So by developing a website using a clone script, your website will find its place among users faster.
Advantages and disadvantages of localbitcoins
Advantages:
Most of the services are free
High security
due to several layers of security for users on the platform
Enough trading pairs
Disadvantages:
The US users are not allowed to trade on the platform
The customer support process is slow
Lack of hard wallet system
feature of the locabitcoins website:
• Chatbox system
• Token listing
• Ad based trading
• Low fees
• Large trade volume
• Accepts new cryptocurrencies
• Stringent security
• Abdundant Altcoins
• Bonuses and rewards
Reasons for choosing white-label localbitcoins clone script
1.By using a white label localbitcoins clone script, you can customize the features and functionalities that are the requirements of the exchange community.
- The admin of the exchange platform can design and change the logo, and the theme or name of the website.
- Developing an exchange platform using white-label will cost less.
- You don’t need any technical or programming knowledge to launch a white-label exchange.
- Because the software is tested by professionals before you know that it will operate properly.
What are the security features of the localbitcoins platform?
KYC: In know your customer system, several steps are needed to establish the customer identity. This helps to ban scammers and reduce frauds.
Escrow payments: all transactions that are executed in the platform are covered by escrow protection.
Login protection: LocalBitcoins will make sure that you are logging into the platform with the same browser and with the same IP. If you log in from another web browser or with different IP it will require email verification.
2FA: the two-factor authentication allows users to set an additional pin for logging in. The two-factor authentication is an extra security layer that helps to prevent the accounts from being hacked.
Localbitcoins clone script features
• Online/offline trading
• Multi-currency support
• Multi lingual
• Wallet secured with escrow
• Ad based trading
• Customized UI and UX
• Merchant dashboard
• 2FA security
• Transaction history
• Open source code
• Multiple trading
How does localbitcoins clone script work?
Sign up to start trading:
To start trading in local bitcoins clone script, first, you should signup and log in to your account by using an email account or phone number.
Verification:
For the security of the trading in localbitcoins clone script, a user should pass the KYC verification and provide the KYC details and wait until gets verified by the admin.
Trading:
By posting ads with its detail like accepted payment methods, trading limits and other details, they will start the buyers. Or they can find and choose among the existing advertisement. When one person chooses one of the ads the trading powered by escrow starts and until the end of the transactions it will be secured.
Now let’s take a look at Localbitcoins competitors:
Local bitcoins
Localbitcoins is a provider of a platform for cryptocurrency exchange. This private company is established in Finland in 2012. They work in the field of financial services, technology, cryptocurrency, exchange, fintech, payments, and platforms. It has 28 employees now. The website has 3.3m visits per month.
They have about 59.9k followers on Twitter and 13713 is their rank in Alexa.
Binance
One of its competitor websites is Binance. Binance is a company that offers a cryptocurrency exchange platform. This company was founded in 2017 and it’s working in the field of financial services technology, blockchain, cryptocurrency, exchange, fintech. Now it has around 3200 employees and different branches in, France, Germany, India, Singapore, us and some other countries. They have around 4.7m followers on Twitter. Their website rank in Alexa is 255. Binance has total funding of $10 m the total visit of their website per month is around 250m. it has more than 10m users.
OKEx
Okex is a private company founded in china in 2014 working on blockchain and provide financial services for traders globally all around the world. Recently they have almost 1000 employees and around 477.4k followers on Twitter. Their website rank in Alexa is 1425. Their website has 13.2 m visits per month.
Paxful
Paxful is a company developing a p2p bitcoin marketplace and an app for transferring money.it was established in 2015 and works in the field of technology, cryptocurrency, fintech, marketplace, and mobile app. It has 432 employees and 108k followers on Twitter.
This content originally appeared on DEV Community and was authored by hassan mahmoodi
hassan mahmoodi | Sciencx (2021-09-08T12:24:31+00:00) Localbitcoins clone script-A guide for entrepreneurs to start a p2p exchange website like Localbitcoins?. Retrieved from https://www.scien.cx/2021/09/08/localbitcoins-clone-script-a-guide-for-entrepreneurs-to-start-a-p2p-exchange-website-like-localbitcoins/
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