How to Start P2P Cryptocurrency Exchange like LocalBitcoins?
Bitcoin is currently the talk of the town in recent trends, with the boom in the price of Bitcoins the world has started to show its interest in this largely benefitting and growing entity.
In this exponentially growing trend of Bitcoins, it is essential for investors to opt for exchanging their altcoins with that of Bitcoins.
LocalBitcoins is an ideal market place for efficient swapping of altcoins with that of Bitcoins for future use and promoting balance of trade through Peer to Peer and entirely Decentralized mode of asset transfer. Localbitcoins involve trading based on ad-posting, the buyer and seller will get to negotiate trades by posting ads.
How to Start a P2P Crypto Exchange like Localbitcoins?
With the current market performance of the Bitcoins, the Localbitcoins platform can be an efficient solution to trade off their altcoins with that of a BTC.
The Peer to Peer Exchange platform can be developed in two different modes based on their availability to the end-users.
The first option is by building the platform from scratch including all the attributes from nuke and corner that remain in line with the creation of an exclusive Exchange platform like the Localbitcoins. This process is an extremely precise process that would require a large number of technical skills in building up the platform without deviating any of its attributes.
The second option is by building a Localbitcoin Clone Script built with customizability to provide only the desirable features such as hassle-free asset transfer and middlemen free asset management over a dedicated framework as requested by the users taking part with respect to the Exchange platform.
Steps in building a P2P Exchange like the Localbitcoins
- Requirement analysis
- Attribute integration
- Trade engine creation
- Interface with distributed ledger
- Coin and token listing
- Product delivery
- Post product delivery assistance.
- Requirement Analysis
The first step in building up a P2P Exchange is the requirement analysis, specifying the basic needs of the participants taking part through the Exchange platform.
After analyzing the requirements of the clients taking part in the Platform, it is essential to integrate specific attributes that are proposed by the participants.
This act will largely contribute to the stability and scalability of the Exchange in the future trends.
Interface with Distributive ledger
The Exchange is readily integrated with the distributive ledger to carry out its main objective. The distributive ledger offers safe and secured custodies to assets seeking transactions over the dedicated framework.
Trade Engine Creation
On successful integration of the attributes specified by the participants, the next and most crucial step in building up any P2P Cryptocurrency Exchange is carried out. This crucial step is the trade engine creation, which matches the corresponding buyers with that of sellers.
Each trade engine will have a base process through which it matches corresponding buyers and sellers. In Localbitcoins Exchange the strategy is by posting ads.
The buyers and sellers are matched by way of posting ads, the seller will post his possession of assets as an ad to the trade engine, while the buyer posts his requirement to the trade engine. In this sense, the buyer as well as the seller are matched based on the requirements.
Coin and Token Listing
The coin and token listing is just an act to showcase the number of assets currently available to carry out transactions. This act creates a sense of trust and transparency in the minds of potential investors. This also allows for the ease of access attribute to the participants.
The P2P Exchange after completion of the mandatory service checks and the listing will be prompted to be available for delivery to the end-users. The products are pre-tested a number of times before making it available for usage to the users.
Post Product Delivery Assistance
On successful product delivery the Exchanges will also be provided with the post product delivery assistance offering 24x7 query solving.
LocalBitcoins Clone Development
Localbitcoin Clone Development refers to the process of creating a readymade platform carrying out the Exchange of Bitcoins exclusively over the distributed ledger with distinct features such as instantaneous buying and selling of Cryptocurrencies reducing complexities in the trade of assets.
LocalBitcoins Clone Script
LocalBitcoin Clone Script is an exchange software designed to deliver Peer to Peer Exchange services with dynamic features as per the requirements of the clients that works similar to Localbitcoins exchange. The White Label Localbitcoins Clone Script is a completely customizable script that adjusts itself to the changing needs of the clients. The Localbitcoins is a cross-functional platform delivering compliance with various recognized operating systems available in the current crypto trends.
Localbitcoins Clone App
LocalBitcoins Clone App delivers the Peer to Peer Exchange services along with portability and scalability to the end users. The Localbitcoin Clone App comes with features including ready notifications, time unlimited transactions and rapid speed matching. The Localbitcoin Clone App is a cross-functional Application that interoperates on a number of available platforms such as the ios, Android and Windows.
Why Start a Peer to Peer Crypto Exchange like Localbitcoins?
With the current performance and the amount of traffic pulled through this Exchange, it is inevitable for potential investors seeking Bitcoin based business to have an Exchange like the Localbitcoins Exchange. The highlighting features of the Localbitcoin Exchange include,
- Multi-lingual modes of operation
- Automated leveraged liquidity provision
- Multiple trading modes
- Multi-wallet integration
- Ad-based trading
- Rapid and responsive notifications
- Transaction history tracking
- Earn through referrals
- Security Features of Localbitcoins Peer to peer Exchange
- Escrow Enabled transaction
- Multi-factor Authentication mechanism
- Multi-point Architecture free from hack attacks
- Numerous wallet support
- DDOS rejection
- Mandatory KYC and AML checks
- Highly validated transactions.
Why Choose Maticz for building Localbitcoins like P2P Exchange?
We Maticz deliver the Peer to Peer Exchange services with desirable features like the middlemen free transaction, immune to venturing hack attacks, and dynamic attributes that allow the Localbitcoin Exchange to adapt itself to the changing needs of the prospective participants taking part in trade with respect to the Exchange.