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PLANNING TO DEVELOP COINBASE LIKE EXCHANGE? HERE’S HOW!

This blog is going to make you aware of how a high-performance coinbase like exchange can be launched in the market and what are all the things that you might actually deserve to do so for it…

Come; let’s explore it further…

A potential way of generating huge profit in today’s crypto sector is the starting up of a cryptocurrency exchange like coinbase of our own. Are you the one who is interested in this? Then this blog is for you.

Coinbase is a traditional, most popular, and performance-rich cryptocurrency exchange type operating out there globally with a large user base. All these traits have made it a viable exchange for making world-class cryptocurrency trades and therefore it stands top in the crypto exchange space today. The exchange had started out its operation in the year 2013 and its services go on enhancing every single day till date. In fact, it is expected to grow more in the future days and thus it possesses a guaranteed growth ever. So, those aspiring entrepreneurs who are in the constant search of starting out a reliable exchange business can make use of the coinbase clone scripts.

Coinbase clones are nothing but the software available to get done with the launch of exchange like coinbase instantly with no hassles. The exchange that is newly developed from the coinbase clones will have all the features and functionalities exactly as same as that of the original coinbase exchange and this is a major plus of utilizing coinbase website clone scripts.

So, what are all the ways that an entrepreneur can generate profit via a coinbase like exchange?

Trading (buying or selling assets) across the platform.
Advertisement commissions.
Token or coin listings for promotion.
Currency deposits or withdrawal commission charges
Flat trading fees

Why traders prefer coinbase over the years?
Coinbase is one of the most powerful cum oldest exchanges reaping huge ROI in the industry over several decades. It has been coming up with trending technologies ever with attractive and appealing websites so that the users can avail themselves the facilities like ease and convenience at times of trading. The exchange as well holds several security features by default, and customization is another biggest advantage here. It supports wallet integration for the safe storage of cryptocurrencies.
Steps with which the coinbase clone operate:

Registration: The users need to sign up with the exchange at first to make trades.
Account activation and verification: Once the sign up gets completed, it’s time to activate the account by entering the OTP.
Fund deposit: Now the account is ready for the user to make a trade. But for him to do it, his wallet needs to be funded as required.

Trade: With the desired funds in the account, the users can initiate and pursue trades spontaneously.

How to develop coinbase like exchange?

For anyone to build a custom cryptocurrency exchange like coinbase, a lot of time and effort is needed to put forth and market analysis is of course a must to do aspect.
The following are the important stages that need to be passed for the creation of a crypto exchange like coinbase:

Discovery stage: It involves discovering the essential aspects relevant to the market competitors and their actual potential. Here, the needs of the target audience as well should be analyzed clearly to have a clear vision of attaining the business goals at the right time.

Planning stage: Here is where the overall map needs to be routed and the entire scope and functionality of the project must be defined. Some of such note-worthy functionalities might include pursuing trading transactions, account maintenance, wallet support, multi-currency and language support, transactional history, and notifications or alerts upon updates.

One most vital part of the planning stage of any cryptocurrency exchange development project includes compliance with the regulatory jurisdictions. 

Technology stack: Here, the expert professionals who are all having great technical expertise need to be hired further for product development. Basically, we need some of the Android or IOS developers, front-end and back-end developers, graphic designers, and quality assurance or testing engineers. 

Project prototyping: It ensures the final level of testing that the product needs before getting ready to go live. A lot of prototyping tools are available as of now and we can make use of it.

Development stage: This is the final stage of your cryptocurrency exchange creation wherein you need assistance from any of the leading cryptocurrency exchange development companies like us. Yes, as an extensive coinbase like exchange development company, we are ready to provide you with the readily available software package that can let you build a customized exchange platform like coinbase of your choice at ease.

Features of our coinbase like exchange:

UI: The user interface looks advanced so that you can provide the users with the necessary level of comfort and convenience they deserve.

Trading engine: The scripts support an efficient trade matching engine to offer a good trading experience from the users’ perspective.

Admin panel: It encourages efficient website maintenance including the details like user ID, access, authentication, email ID and contact verification, timestamps, and so on.
Wallet support: this feature allows the users to store, send or receive cryptocurrency coins to and fro in the platform.
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Each cryptocurrency exchanger works according to the following principle - two accounts are involved in the exchange: the contractor and the customer. The customer transfers a certain amount in one currency to the account of the contractor, after which the contractor transfers the converted equivalent in another currency to the customer's account. The main tasks of the owners of modern exchangers are high speed, security of exchange operations and the most simplified use of their services by clients. If the exchange of currencies requires a large number of steps in a strict sequence, no one will use such a service. Therefore, most exchangers allow you to deposit / withdraw cryptocurrency in just a few clicks. To create an account and transactions on a cryptocurrency exchange, mandatory registration is required. It is not necessary to register on the sites of exchangers, it is enough to indicate some data about yourself when exchanging (e-mail, in some cases you will need a phone number and full name). Registration on the exchanger's website still provides a number of advantages - participation in the loyalty program (all exchanges are summed up and bonuses are provided), the referral system (if any). The exchange procedure itself is the same on all exchangers. Let's look at xmr to btc calculator as an example: On the exchanger's website, select the exchange directions (xmr to btc). The amount to be given is entered in the "give" field - in the "receive" field we can immediately see the amount that will be transferred in the selected currency to the account following the exchange results; The exchange can be done anonymously, so a lot of data is not required.