In this writing, we will look into the complete review of Localbitcoins Clone Script.
What is LocalBitcoins?
LocalBitcoins is a cryptocurrency exchange clone script that enables you to establish your own cryptocurrency exchange platform for the customers or the users to trade (buy or sell) the cryptocurrencies to other nearby users.
LocalBitcoins enable the users to exchange their fiat money or local currency to bitcoins. This platform helps the users to post advertisements on payment methods and exchange rates for trading the bitcoins.
By making use of this clone script you will be able to provide broadloom experience while trading the bitcoins over the platform. All the requirements to run a successful LocalBitcoin for your business are built over the LocalBitcoin clone script.
How does LocalBitcoin Clone Script Work?
This clone script is used to create the bitcoin exchange platform.
We will look into the trade process steps involved in the LocalBitcoin exchange platform.
The Working Process Over the Platform Are As follows:
The users need to complete their profile registration by providing the required credentials for KYC. It may not always be mandatory, but it is always a good practice to follow.
Once KYC is submitted and approved, a crypto wallet is created automatically on the platform. You need to maintain a minimum balance in your crypto wallet account.
Two types of options are available on the platform. QuickSell and QuickBuy are the two types of options available to trade the cryptocurrencies. This will help the users to decide what and when to buy or sell the cryptocurrencies.
The trader can choose the seller /buyer by referring the trading history and here it solely depends upon the trader to choose the buyer or the seller.
Benefits of Trading Over LocalBitcoin Platform
- This platform allows trading bitcoins at a faster pace.
- It is a P2P trading platform.
- Escrow wallet for safe and secure transactions between buyers and sellers.
- Trading can be automated in the platform.
- The updated pricing structure of the system is available in the platform.
How to Make Money with LocalBitcoin Clone Script?
With LocalBitcoin the owner will be able to make money via the following ways:
This is the fee imposed for any request like a buy or sell request. For each request posted on the platform, the user needs to pay the posting fee for their requirements. A certain percentage of the posting fee is earned by the site administrator and the percentage is set or configured by the admin panel of the platform.
Crypto Advertisement or Banner Monetization :
Banner or advertisement is a channel to enhance your revenue when certain users are targeted for your platform. With the LocalBitcoin platform, the crypto investors are targeted and they might be interested in investing in cryptocurrencies or anything related to that. The crypto advertisement or banner networks lookout for exchange platforms that attract huge investors and increases their advertisement traffic.
The processing fee is charged for each successful transaction. This is one such way to make money with the LocalBitcoin platform. The processing fee is also charged for transferring the cryptocurrencies from the internal wallet to any other wallet outside the platform.
Why LocalBitcoin Clone Script is Unique?
Since LocalBitcoin is managing with the P2P (Peer to Peer) network, it directly deals with the user without any central authority. If not managed properly, it may lead to any risk related to user privacy and safety features. By considering this risk, the LocalBitcoin Clone script was developed with all safety features to avoid these risks.
It contains all the factors to manage the safety concerns, and it is ensured that the business. is accomplished more effectively. It also has the dispute management system, which makes the administrator completely responsible for handling any dispute.
LocalBitcoin Clone Script- Features
It is a perfect feature-rich clone script to start your crypto business.
Below are some of the important features of LocalBitcoin Clone script:
1. Escrow Wallet
When users sign up for the account in the LocalBitcoin platform, a virtual wallet under the master wallet of the platform is created and this is known as escrow wallet. It is used to store the cryptocurrencies. If there is any transaction in progress, the user will not be able to transfer the cryptocurrencies internally to any other wallet or any external wallet.
Read more to know How To Start Crypto Exchange With Bitcoin Escrow Script for surplus benefits.
2. Streamlined KYC Verification
In the LocalBitcoin platform, KYC (Know Your Customer) verification is a well-streamlined and 5-star process for verification. When the user signs up for the account, they can upload their personal documents for verification. This ensures that the platform is more secure and safe with the verification process.
3. GDPR Compliant
GDPR is known as general data protection regulation. LocalBitcoin Clone script complies with GDPR.
4. Proximity Mapping
This feature allows the nearby users to connect with each other to start the trading or exchanging the cryptocurrencies. It is based on a proximity algorithm, the nearby traders are listed out and the users can also view the payment option, feedback, and other safety ratings to start with the trade.
5. Review And Feedback Mechanism
The users of the LocalBitcoin platform will be able to provide feedback after completing the transactions. The rating is estimated based on certain factors like response rate, transparency, profile completeness, the overall positive and negative feedback ratio.
6. Dispute Management
LocalBitcoin Clone script is equipped with a well-developed dispute management system. It consists of all the required tools to verify the claims and get rid of any kind of dispute.
7. User-Friendly Interface
In web applications: LocalBitcoin optimized the CSS and completed HTML minification, the pages are loaded faster with these features.
In mobile applications: The best coding standards are used to perform faster and it is bloat-free.
8. Effective Reporting
In the LocalBitcoin platform, the administrator dashboard will offer effective statistics reports on how well the business is managed with the overall negative feedback addressed and to manage the bottleneck to enhance the business.
9. Instant And Personalized Messaging
Before starting any trade or exchange, the users will be able to send instant and personalized messages to other users to proceed with the trade.
10. Native Apps
The iOS and Android versions will allow users to exchange or trade offline. The buyer or seller can acknowledge the transaction and update the trade status as complete by paying the cryptocurrency in person.
Hope in this article, you will be able to find the complete review of the LocalBitcoin clone script. This article also provides the complete steps to start the trading over this platform and the features of this platform.
Always select the top serviced crypto exchange software development service provider to develop your own crypto exchange platform
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