Despite various factors to consider while developing a crypto exchange, cost estimation plays a vital role. Here in this blog, you can estimate the cost to start a crypto exchange like LocalBitcoins.
Cryptocurrencies are the new-age virtual currencies that work on blockchain technology, which is completely decentralized. Cryptocurrency is becoming more and more popular in the fintech world. Simultaneously the demand for crypto exchange is fast expanding because people use these exchanges to trade cryptocurrencies.
So, many business people and entrepreneurs wish to create crypto exchange platforms. Various crypto exchange business models are available in the crypto market.
Among them, the LocalBitcoins crypto exchange model has gained popularity. This has led many entrepreneurs to start a crypto exchange business like LocalBitcoins.
When stepping into a crypto exchange business like LocalBitcoins, the first thing which comes to everyone’s mind is, How much it would cost to start a crypto exchange business like LocalBitcoins? Now let me give you the solution for it in this blog.
Factors that induce the cost to start a crypto exchange like Localbitcoins
The cost of creating a crypto exchange like LocalBitcoins depends on various factors like the development type which you choose to create, features you wish to integrate into your crypto exchange, and the exchange software solution providers.
- Development type
- Creating it from scratch
Creating a crypto exchange platform like LocalBitcoins from scratch will cost you nearly $50k to 100k. Apart from this, it will take a huge amount of time to create your crypto exchange platform like LocalBitcoins.
You will need advanced technology tools to integrate add-on features and additional benefits, which will cost you even more. You should also work on securing your crypto exchange.
Using a pre-developed LocalBitcoins clone script
If you opt LocalBitcoins clone script for creating your crypto exchange like LocalBitcoins, it is way more effective as it would cost you only $4k to 12K. The most exciting thing is that You can start your crypto exchange platform instantly within a short span, say a week.
Since this way of creating a crypto exchange like LocalBitcoins is more budget-friendly, I shall take you through the overview of a LocalBitcoins clone script, and guide you on how to get it.
LocalBitcoins clone script – An overview
LocalBitcoins clone script is a ready-made software that is a complete package of all essential and advanced features which is present in the LocalBitcoins exchange. It is also not copyright infringed as it has its unique features and add-on options.
It is completely customizable, and you can modify the software as per your business requirements. It ensures the security of your exchange.
It also takes very less time to launch your crypto exchange like LocalBitcoins.
Integrating additional features
The cost of creating a crypto exchange also depends on the features that you wish to integrate into your crypto exchange platform. If you create from scratch then every feature requires a certain amount But in the LocalBitcoins clone script, you will be having the basic features by default and even if you wish to integrate additional features in your exchange it will be under the budget-friendly side.
Some of the additional features
- Margin trading
- IEO launchpad
- Crypto derivatives & more.
Apart from this, there are even more additional features that you can add to your exchange. Even though the cost differs for incorporating additional features, it won’t exceed the cost of a scratch method.
How to get a LocalBitcoins clone script?
After knowing the best method to create a crypto exchange like LocalBitcoins is by getting a LocalBitcoins clone script, You can get the exchange clone script from a reliable and budget-friendly script provider.
Several LocalBitcoins clone script providers are available in the market. Not all LocalBitcoins clone script providers charge you the same price.
So the cost of creating a crypto exchange like LocalBitcoins also depends on the script provider you choose.
You should do some research on the script provider’s portfolio, reviews, ratings, and the cost of their LocalBitcoins clone script.
ABOUT THE AUTHOR: CarolineKlaus