#localbitcoinsclone

LocalBitcoins is a marketplace where members can buy or sell Bitcoins directly with each other. Members post their exchange rates and forms of payment to buy or sell bitcoins on their platform.

In 2019 LocalBitcoins had 913,000 active traders and got 1.46 million new registered customers. All together, LocalBitcoins has over 8 million customers globally from over 190 countries. It is one of the popular marketplaces for trading Bitcoin.

LocalBitcoins Services

LocalBitcoins offers direct trading, communication, dispute resolution and escrow services between buyers and sellers. The escrow services take the funds from the seller out of their wallet and release them once both sides accept the trade.

LocalBitcoins Pricing

Buying and selling on LocalBitcoins is free. It is free to transfer to the wallets of other members on the site. The fee to transfer to other Bitcoin wallets varies. It depends on the current usage of the Bitcoin blockchain. There is also a fee of 1% for members that create advertisements.

The pricing structure is reasonable for those who are using their network and wallets. It becomes uncertain when transferring to other Bitcoin wallets depending on the blockchain and network congestion. The 1% fee for member advertisements is very reasonable. Most of the prices are low

Source: Benzinga

How to start localbitcoins like crypto trading platforms instantly?

Sellbitbuy has a dedicated pool of certified cryptocurrency exchange developers with in-depth knowledge in developing, testing, and deploying a successful crypto exchange like LocalBitcoins. Our LocalBitcoins clone script emulates the entire core features and provides the opportunity to add extra features according to users’ requirements to yield a high return of investment.

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Venturing into the cryptocurrency exchange industry is a profitable opportunity that any business person can take advantage of. It is a swiftly developing industry, and cryptocurrencies are the future of transactions. So, investing in this industry can be considered wise and profitable. If you wish to be a part of this trading market, then you can go ahead and launch your venture with a Bitcoin clone script available in the market. 

Standard features to be included in a Bitcoin trading platform:

Before you build the app, you have to get to know a few attributes that should be available on your platform.

Multiple registration options:

This will allow users to choose any one of the quick options to register with your platform. Also, make sure you include a robust authentication procedure to verify users. 

Advertising:

Allow your users to post ads or go through the list of ads available in the app. They should be able to post an advertisement by specifying the required details or select an ad and proceed with the transaction instantly.

Push notifications:

Users should be informed about newly posted ads, payment confirmation, etc., via push notifications and emails. This will help them stay updated. 

Payment options:

Make sure you include a variety of payment gateways that are secure and instant. No gateway should track any user or banking information via the app. A highly secure platform is sure to attract a large customer base.

Reviews and ratings:

Include a ratings and review option to help your users share their crypto trading experience. It will also help you increase your quality of service. 

Conclusion:

Want to launch your dream venture in the cryptocurrency industry? You can now design your own brand of peer-to-peer Bitcoin trading platform with the best blockchain developers in the town. Multiple local Bitcoins clone scripts are available in the market at budget-friendly prices. You can go with a suitable script to launch your crypto trading brand in the industry. Before you initiate the app development process, you have to know that only an easy to use and secure trading platform will be accepted by a wider audience. This blog will provide you with an insight into how simple the workflow of a Bitcoin exchange platform should be designed. 

Registration is the initial step when it comes to any platform. Users should be able to sign up with the platform using their phone numbers or email IDs. They must also complete the KYC(Know Your Customer) process as a part of the authentication process. 

After approval, they should be able to enter the platform and go through the list of advertisements provided by buyers and sellers. They must also be allowed to list their advertisement in the app. 

On choosing a suitable advertisement, users should be able to select it and complete the trading process within the specified time limit. 

To avoid any disputes between the buyers and sellers, the fiat currencies or Bitcoins should be deposited to the admin’s escrow wallet. 

On completing the transaction successfully, the admin should be able to transfer it to the respective user’s account. 

Wrapping up!