This content originally appeared on DEV Community and was authored by godrick smith
In this post, we’ll explain how Binance Clone Script works in low complexity terms. We hope it provides you with a good understanding of the crypto exchange and its clone script. learn more
First, brief explanation about Binance
Any enthusiast of the world of cryptocurrencies and who wants to exchange some of them or keep them safely will probably need an exchange platform. That is a service with the possibility of buying and selling different cryptocurrencies (in this case) at values determined by the market.
Without a doubt, one of the most popular exchanges today is Binance, which has gained recognition in the crypto world due to the wide variety of currencies it offers, and it is very low transaction fees.
Changpeng Zhao is the main name behind Binance. This Chinese-Canadian businessman is the founder of the company that today establishes itself as the largest cryptocurrency exchange platform in the world in terms of volume of transactions.
Advantages and Disadvantages of Binance:
Advantages:
• Safe and extremely reliable platform;
• Many integrated services that allow you to use the same site to make all potentially interesting operations for a cryptocurrency enthusiast;
• Very low transaction fees;
• High protection of user data and a lot of privacy in general;
• Compatible with all devices and operating systems.
Disadvantages:
• No fiat currencies trading pairs
• No phone for supports
• Experienced security breaches in the past
• No privacy-preserving measures
Now let's find out together the Binance clone script What it is, and how does it work.
What Is Binance Clone Script?
Binance Clone Script is the clone software of the Binance exchange platform. It functions similar to the Original clone software with some more features. This software is completely customizable. That means you can frame the software with some additional features as per your business requirements. This clone script is a flexible decentralized platform that makes the users operate in a hassle-free manner. It provides multiple payment methods based on geography that the user will find it easy to exchange crypto to fiat or vice versa.
Features of Binance Clone Script
• Wallet Integration
• Multiple Crypto Support
• Instant Buy / Sell
• Multiple Trade Pairs
• Live market
• Two-Factor Authentication
• Dispute Management
• Mobile Trading App for Android, iOS
• Push notifications
• Robust escrow wallet
• Attractive UI/UX module.
• Admin Panel
• IEO Launchpad Integration
• Security Token Exchange Integration
• 100% customizable Bitcoin Exchange Script
Binance Clone App
A ready & tested, white-label Binance clone app for people over iOS/Android with a web-based admin panel. Binance app helped many startups, entrepreneurs, and companies gain visibility and increase their company value & revenue.
Significant Features of Binance Clone App
• Two-factor Authentication
• Instant notifications
• QR Scanning
• Ratings and Feedback facilities
• Location Tracking
• Live Chat Options
• Transaction History
• Ad-posting facility
• Encrypted Private key
• Multiple language support
• White list options
• Fast KYC Verification
• Advanced Price Tracking
Let’s get into what a white-labeled Binance clone script can do for your business.
What Does White label Binance Clone Script?
The white-labeling concept is when a ready-made script solution is transformed to suit your own brand — the name, the logo, and other intricate details of creating your business.
The cost of a white-labeled Binance app clone will be within your budget, and also it helps you start your business instantly.
Owning a Binance clone script can be a revelation for your crypto exchange business.
When rivals with similar business models run traditional operations, you with a white-labeled Binance clone script can pull people towards your crypto exchange services.
Always remember! Comfort before anything. When people can find your business just a click away, they will come looking for your on-demand crypto exchange services the next time.
Security Features in White label Binance Clone Script:
• Content Management System (CMS)
• Digital wallet and payment integration
• SSL Encryption
• E-Mail or SMS based verification method
• Hypertext (HTTPS) encryption
• Faster KYC/AML authentication
• Anti-DDoS (Anti-Distributed Denial of Service)
• Cross-Site forgery protection (CSRF)
• 2FA Authentication
• Multi-Sig Wallet consolidation
The Benefits of White Label Binance Clone Script Are:
• Easy to deploy products
• Customizable UI/UX
• Market analysis
• Time efficient transactions
• Cost effective crypto exchange
• Multiple payment methods
• No need for an expert technician
• Reliable crypto exchange
• Improved accuracy and efficiency
• Multiple device access
Advantages of Using White-label Binance Clone Script
• Cost: Developing a website from scratch will lead to higher costs of development. Binance Clone script is not just quick to build but also cost you less. It is easy to save resources and money.
• Customizable: You can request any model clone script with any design.
• Quick and easy launch: A lot of thinking and planning goes behind developing a website from scratch. Clone scripts, on the other hand, obviate all the market research and planning, design, etc. And makes the development much easier and faster.
• Time: Web/app Binance clone script reduces the development time. You can easily get the benefits of quick time to market.
• Low commercial risk: The app offered to clients has been tested and is a proven solution.
Now we will compare Coinbase and Kraken with Binance, their more popular competitor.
Kraken VS Coinbase VS Binance
As of this writing: according to coinmarketcap.com, Kraken has;
• Trading Volume(24h): $2,315,530,490.92
• Avg. Liquidity: 713
• Weekly visits: 2,412,261
• Markets: 374
• Coins: 98
• Exchange score: 7.9/10
• Rank: 4/10
• The number of employees: 1450
Coinbase has:
• Trading Volume(24h): $6,823,483,874.67
• Avg. Liquidity: 682
• Weekly visits: 3,875,914
• Markets: 367
• Coins: 119
• Exchange score: 8.4/10
• Rank: 2/10
• The number of employees: +2700
• Verified users: 73+M
• Countries: +100
• Assets on platform: $255B
• Quarterly volume traded: $327B
Binance has:
• Trading Volume(24h): $111,086,633,497.21
• Avg. Liquidity: 780
• Weekly visits: 31,922,013
• Markets: 1581
• Coins: 409
• Exchange score: 9.9/10
• Rank: 1/10
• The number of employees: 1377
I noticed a lot of similarities when comparing Kraken to Coinbase and Binance.
Most of the sites are super fans of Binance. The best ever, but let's admit that we are users of all exchanges. As one varies from the other, offering more or fewer options.
These exchanges (Kraken, Coinbase, and Binance), have a fairly similar fee structure. The services are also more or less the same, apart from Coinbase, which only has very few other additional options. With Coinbase, it is only possible to buy Bitcoin and a few other cryptos. It is definitely not recommended for trading, for example. In that case, Coinbase Pro can do this job.
Overall, the challenge between Binance, Kraken, and Coinbase is certainly won by Binance. In the second position, we put Coinbase (Pro) and in the third Kraken exchange.
Overall, you can buy Bitcoin on all of these exchanges. There isn't much difference between these three exchanges. The choice is up to you and is based on your country of residence, available payment method, and commission preference.
Last word:
Hope the information provided above helped you get a clear picture of what all to look for while choosing a clone app to build your Binance-like Application or Website. I’m happy to help!
This content originally appeared on DEV Community and was authored by godrick smith
godrick smith | Sciencx (2022-01-26T13:28:49+00:00) Binance Clone Script- How to Start your Cryptocurrency Exchange Like Binance?. Retrieved from https://www.scien.cx/2022/01/26/binance-clone-script-how-to-start-your-cryptocurrency-exchange-like-binance/
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