How much Does it Cost to Build a Cryptocurrency Exchange Like Binance?
A Cryptocurrency exchange business is an online platform allowing its users to trade digital assets using their traditional fiat currencies.
In recent days, several businessmen have started a crypto exchange business platform like binance and they gain a good profit.
Let have a short discussion of why an entrepreneur picked the crypto exchange website like binance their milestone business?
A binance is a cryptocurrency exchange website that has its own blockchain technology in Tokyo in Japan.
Overview of binance
Binance is a crypto to crypto hybrid exchange platform that has a number of traders with a different type of cryptocurrency and tokens. The trader can list any type of ICO and the is a different type of binance launchpad.
Binance has been released as a 20th Podcast they speak with entrepreneurs, scholars, influencers, and experts, audience through a variety of industries to share how blockchain technology is changing the world.
Why traders give number one preference to the binance cryptocurrency exchange platform?
They have a high-performance trade matching engine.
The binance exchange has a capacity to compact in all devices like android,iphones.
They have multiple language supports to attract all countries' users.
They have a trusted DEX wallet support to secure digital coins.
They produced a BNB(binance coin) have its own affordable value in the crypto marketplace
The is a lot of features in binance platform they are till moving to the success way with the support of numerous user.
How you can also become a smart entrepreneur of cryptocurrency exchange platforms like binance?
We are the Sellbitbuy a cryptocurrency exchange clone development company that provides a binance clone script to the endless clients with customized features and multilevel security.
A binance clone script is a set of structural source code designed in blockchain technology to set up a crypto exchange like binance.
The is two main modules we designed and functionalities in a secure way
Admin: Who controls overall trader transaction securely and carry out user management database.
User: Who are wants to trade in the exchange platform is consider us the “user”.They can sing in/signup and deposit /withdrawal cryptos.
Let we here explain each functional of sub-module
Sign in / Sign up
This signup and sign in functionalities should be securely maintained where the user can enter their information data. We set a Two-factor authentication method and magic word test, the secret question to identify the correct user.
KYC Verification and AML method
After signing, the admin wants to verify the KYC method to avoid the scam traders in the exchange.
The admin can integrate our Automation KYC verification software to avoid illegal money set of AML rules that will automatical send via email for each user.
Deposit/Withdrawal In Multi-Wallet System
The traders can deposit any type of digital coin into our trusted multi-wallet according to the rules set in the AML validation process.
Faster Transactions dashboard
This is a major region trader that can trade cryptocurrency to other traders so, we integrated a multi-payment method for fast and safe transactions without any errors. Each and every transaction of user the admin can charge some commission fees.
Trade Analytics Report.
This trade analytics report will use to the buyer and seller they can predict the next crypto value in the marketplace they can download the chart in any format like pdf, doc.
The exchanges have all internal API like REST API, Liquidity API, Quantity Market Order API, and Cryptocurrency Price Ticker API, Trading Bot API.
While developing the cryptocurrency exchange security is an important one
1. The is a wide different server and interact through dedicated channels for passing data securely.
2. The encryption keys or private keys are followed by an unhackable algorithm.
And many more...
Now, This is your right time to start a cryptocurrency exchange business grasp our expert consultation.
How many hours can we take to build our binance clone script with a fair budget?
Business requirement analysis and planning – 140 hrs
Framing layout & Prototyping – 800 hrs
Designing – 450 hrs
Module functional development like binance –1300 hrs
Develop customized features – 900 hrs
Quality Assurances testing – 220 hrs
For mobile application development, we need 300-hour and15 weeks to deliver the crypto exchange platform like binance.
To know the cost of building binance exchange varies from your unique business requirements.
Get an affordable price for starting a cryptocurrency exchange business like binance for you.