Binance Clone Script - How to Create Cryptocurrency Exchange
Binance is a decentralized exchange for trading bitcoins, ether and other cryptocurrencies. The platform was launched in September 2017 and in just a few months has become the most popular cryptocurrency exchange in the world. The exchange achieved success thanks to the simplicity of trading, the large number of trading pairs and low fees, as well as the interesting features of the BNB internal coin.
Instructions for launching the exchange consists of five simple steps.
The project team plans that traders will not store money in bitcoins or dollars, but in BUSD. This way you can reduce the risks associated with high volatility of the cryptocurrency exchange rate, because of which traders hold funds in USD, losing part of the profit on commissions when transferring one currency to another.
Safety. The main problem of the cryptocurrency market and exchanges in particular is security. The most high-profile theft of money on the network is hacking crypto-exchanges: Mt. Gox in 2014 - $ 450 million, Bitfinex in 2016 - $ 65 million, Bithumb in 2017, 2018 and 2019 - $ 58 million, Binance in 2019 - $ 40.5 million. Therefore, when creating your own cryptocurrency exchange, you need to do everything to secure money and user data, especially on exchanges such as Binance, where users store crypto on internal hot cryptocurrency wallets and / or in a common pool.
You need to secure the system from hacking from the side of:
Trading engine. In the summer of 2019, the Binance exchange officially launched an improved trading engine for margin trading, which, according to a press release, will almost instantly coordinate orders and press indices, which will improve the site’s liquidity. Along with this, Margin Wallet appeared on the exchange, the main feature of which is commission-free transactions when transferring funds to the main Binance Wallet. Margin trading is implemented as a separate option in the old user-friendly interface.
User panel. In addition to security features and a trading engine, a clone script for a cryptocurrency exchange like Binance should include the following:
Mobile app. Most Internet users connect to the network using a smartphone and prefer to access web services through applications rather than a browser. The Binance team understands this, so in April 2019, the service added the possibility of buying and selling cryptocurrency through the Binance Exchange application, which is available on Android and iOS.
The Binance cryptocurrency exchange also earns on its token, selling it to those who wish to save on trading commissions. During the crowdsale in 2017, the company raised $ 15 million. According to the roadmap, the money will be spent on spot trading (done), margin trading (done), futures (done), anonymous instant exchange and a decentralized cryptocurrency exchange.
In addition to implementing these monetization methods, you can also:
Primary Target Audience:
Open source software. This is completely free software with no restrictions on use for commercial purposes. Usually it is created by novice programmers and crypto enthusiasts who want to show themselves or contribute to the development of the market. Such software should be used with caution, as there are no guarantees of its reliability and security.
Binance clone script development from scratch. The most expensive, complex, and longest way to launch a cryptocurrency exchange. It is chosen if they want to get quality guarantees, preserve copyrights to the software and / or create unique functions that are not in the “cloned” service. Cost - from 20 thousand dollars, time - up to six months or longer.