Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Alex Jaxon on August 13, 2021, 04:02:00 PM
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LocalBitcoins is the most famous P2P Cryptocurrency Exchange. Users can act the purchase and sale operations of bitcoin and other cryptocurrencies using any payment method. Now let us look at how this trading platform works and how to create your own cryptocurrency exchange like Localbitcoins.
Localbitcoins Business Model:
The LocalBitcoins business model is an intermediary website where traders can meet and agree on the conditions of the exchange.The transaction can be managed on the site using the built-in automatic exchange tools.
The Euros and basic information related to the users will differ based on the tires.
The Target Audience of localbitcoins is people who want to buy or sell bitcoin as profitably as possible.
Platform Architecture and Features:
Trading Engine
Is a Software that is managed for the order book, the match system and automatic exchange tools on the site connected via API.
User Interface
The appearance of your Cryptocurrency Exchange should be pleasant and easy to understand.
Cryptocurrency Wallet
Some P2P Exchanges do not have internal wallets. This clarifies development and safeguard against problems associated with hacking and theft of currency.
Methods for Monetizing the Platform
Commission and Fees
Publication Fee
Advertisements
Web Mining
Marketing Campaign
Natural Search Results
Bitcointalk and other Profile Sites
Promotion in Social Networks
Contextual Advertising
Development Approaches:
Development from Scratch:
Create a #DevelopmentTeam or hire a blockchain development company to build your cryptocurrency exchange software.It will require a lot of effort and money. This approach usually brings a maximum profit.
Whitelabel Solution:
There are many blockchain development companies providing Cryptocurrency exchanges like LocalBitcoins. This is a ready-made solution for building cryptocurrency exchanges.
With this approach, you just need to choose and buy a ready-made solution, customize the design, connect payment tools and launch a marketing campaign. It’s a lot easier than developing from scratch, but there may be problems with flexibility and lower profits.