How Is LocalBitcoins Clone App Development the Best Option to Start Your P2P Exchange Business?

localbitcoins clone app development

Peer to Peer Crypto Trading

Cryptocurrency exchanges and trading are getting popular among crypto enthusiasts. There are centralized exchanges, decentralized exchanges, and p2p exchanges. Among all these, owing to several beneficial reasons, users prefer the p2p exchange model over other business models. Here are some of the major factors,

  • No transaction fee
  • Flexible price
  • Security and privacy
  • No third-parties

With the crypto market evolving with new advancements every day, peer-to-peer crypto trading is no different from the other arose innovations in the blockchain. Factors such as the global marketplace, access to restricted markets, improved security, and revenue have made the p2p exchange the future of crypto trading.

This is what made LocalBitcoins a popular p2p exchange platform. LocalBitcoins allows crypto users to buy, sell, and trade cryptocurrencies of multiple types. With its trading options and high-end security features, it is attracting crypto businesses to adapt its business model and develop a LocalBitcoins-like clone solution. The transactions that take place on this platform are frictionless and faster. Nothing else can be a more profitable idea than going for LocalBitcoins clone app development for your p2p exchange business. Let us know more about the LocalBitcoins clone.

Features Imparted in a LocalBitcoins Clone Script

Many useful and amazing features come with the LocalBitcoins clone. The integrated features include the following which is helping many businesses achieve their milestones in a short period.

  1. Escrow Wallet

When the user requests a trade, the escrow wallet gets activated thereby cryptocurrencies held on by escrow services. Once the trade is accepted by the seller, the escrow releases the cryptocurrencies, thus, completing the transaction effortlessly.

  1. Two-factor Authentication

To avoid unnecessary tampering and hacking on the platform, the LocalBitcoins clone app comes with an extra layer of security for buyers and sellers with two-factor authentication. This provides a highly secure environment for trading.

  1. Multi-currency Support

The LocalBitcoins clone supports more than one type of cryptocurrency. This allows crypto users to exchange a variety of crypto assets.

  1. Reputation System

According to the activities of the crypto user using the platform for trading, the exchange platform provides a reputation rank to the user. Using this ranking, any user can easily pick a trader for trading crypto assets.

  1. Dispute Resolution

In case of any issues or anomalies between the buyer and seller of crypto tokens, the dispute resolution will be taken care of by the admin.

  1. User-friendly UI/UX

The incorporation of easy navigations, attractive designs, easy-to-use nature of the interface gives a high-end experience to the crypto users using the LocalBitcoins clone app. 

  1. Online/Offline Trading Options

LocalBitcoins clone supports both online and offline trading processes. Online trading is wherein the buyers and sellers exchange crypto coins with escrow apps. Whereas offline trading is transferring crypto coins between the buyers and sellers at any local place.

  1. Ads posting

The crypto users affiliated with the platform can post advertisements about their trading processes to let the other traders know about them.

LocalBitcoins Clone Working Model

The functioning of the LocalBitcoins clone is very simple and from beginners to experts, every user can understand the workflow easily. Below mentioned is the working model incorporated in the LocalBitcoins clone.

Step 1: Sign Up

The crypto user will have to sign up and log in to the application to start the trading process.

Step 2: Post Ads

Once logged in, the user should post ads stating their trading processes or should choose any other ad posted by other traders. The notifications are sent to the respective buyers or sellers.

Step 3: Check Trade History

When the user wishes to trade crypto assets, he/she needs to check the trade score, the number of trades taken, and other trading histories of the trader. 

Step 4: Buy/Sell

Post which the user can buy/sell the cryptocurrency by clicking on the Buy or Sell button, leading to a chat window where the user has to type the amount he wishes to exchange and then send a trade request.

Step 5: Transactions

The crypto user and the trader must complete the crypto exchange or transactions within the allotted duration failing which the transaction will be terminated.

Step 6: Exchange Completion

Once the exchange is complete, the buyer needs to indicate to the seller to deliver cryptocurrencies from wallet to wallet by snapping the “Make Payment Complete” option.

Advantages of Adopting LocalBitcoins Clone App Development For Your Crypto Business

The LocalBitcoins clone comes with numerous benefits that will help you make huge profits out of your p2p exchange business. Here are the amazing benefits of choosing LocalBitcoins clones.

  • The clone script is an open-source code.
  • It is incorporated with many trading options including margin trading, OTC trading, and many more.
  • Supports speedy transactions.
  • Global-level users can trade using a LocalBitcoins clone app.
  • Intuitive and user-friendly user interface.
  • Supports exchange of multiple cryptocurrencies.
  • Integrated with high-end security and privacy features including escrow system and 2FA.
  • Robust features and improved scalability.
  • 100% customizable which means the app can be customized to any extent according to your business-specific requirements.
  • Provides high-yielding investment opportunities.
  • Affordable development costs.
  • Reduced time-to-market.
  • Effortless white-labeling

Summing Up

Now that you know the supreme features, benefits, and working model of the LocalBitcoins clone, you will be aware that it is the best choice for developing your p2p exchange business. Are you ready to build yours? Uberdoo can help you with it.

Our domain-specific experts hold expertise in developing such intuitive and robust clone app solutions which have proved to be lucrative for many crypto businesses. We aim at offering LocalBitcoins clone app development services that help you shine in your peer-to-peer crypto exchange business and stand unique among your competitors. Also, we provide post-launch support in order to make sure the app works fine after being launched. Our support services will be helpful for your app upgrades.

If you are interested in developing your business-specific LocalBitcoins clone, then don’t forget to connect with our expert team. Share your requirements to kick-start your clone app development right away!

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