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The rapid growth of the cryptocurrency space draws the attention of a number of businesses to start a lucrative business in the field of cryptocurrency. As far as crypto businesses are concerned, launching a crypto exchange like Coinbase is one of the most profitable ideas. Let us know why!

Crypto businesses in the modern era have consumed a significant space in the technology world. Due to its rapid growth, a number of entrepreneurs have become interested in launching their business in the crypto domain. Amongst the wide range of business options in the crypto industry, starting a crypto exchange business turns out to be one of the most lucrative options. It is because it features a number of revenue-generating modules while you are capable of yielding profits within a short duration of time. This is the reason why a crypto exchange business is highly preferred by cryptocurrency entrepreneurs. 

Also Read: Steps To Launch Your White Label Cryptocurrency Exchange

Why Use a Coinbase Clone Script?

Coinbase clone script can be regarded as a readymade script that is used for launching cryptocurrency exchanges like Coinbase. The clone of the Coinbase exchange platform depicts features and functionalities that are similar to that of the Coinbase Exchange. You should aim at choosing a Coinbase clone script that is bug-free, robust, and totally customizable.

2021 served to be a memorable year for the cryptocurrency industry. It was because of the significant rise of Bitcoin from 5.5k to 7.5k USD. Based on the rapid surge, Coinbase was capable of generating around $585 million of its total revenue of $1.14 Billion during the last quarter of 2020. Active exchanges keep happening throughout the year on a periodic basis. 

You can search for a reliable Coinbase app clone script development provider offering the Coinbase-like exchange platform with the latest technology stack, robust trade engine, intuitive UI/UX, support for multiple cryptocurrencies, live liquidity, multi-layer security features, crypto wallet integration, and hassle-free trading capabilities to the end users.

Elite Features to Look Out for in a Coinbase Clone Script

Coinbase clone website script is a type of pre-coded script that is equipped with the advanced features as well as functionalities of the famous Coinbase exchange. The script can be utilized for building and launching a feature-rich clone exchange platform that is similar to Coinbase. 

The best part is that when you hire professional services, you can also think of customizing the crypto exchange platform depending on your specific requirements. As it is going to be a pre-developed clone script, you can be assured of the overall quality as well as security of the crypto exchange platform. You can think of instantly starting your crypto exchange business like Coinbase with the help of the relevant Coinbase clone script. 

If you are thinking of developing a crypto exchange platform like Coinbase, you can leverage the high-end features of the Coinbase exchange clone script. Here are some:

• Multiple Trade Pairs: Users should be capable of ensuring crypto-to-crypto trading as well as Fiat-to-crypto trading over the exchange platform that you design. Therefore, in a Coinbase crypto clone, multiple trade pairs are effectively integrated into the respective exchange platform. It is done as per the specifications of the end users. The best part is that multiple crypto tokens and coins are made available for trading.

 

• Wallet Integration: As a crypto exchange platform owner, you are expected to acquire a dedicated cryptocurrency wallet for storing the cryptocurrencies on the respective trading platform. You should search for a Coinbase clone having the cryptocurrency wallet integrated. There should also be the presence of a separate wallet address that has been assigned to the registered users once they have been verified and validated the KYC. AML validation is also required.

 

• Multiple Crypto Support: The Coinbase clone that you select should be capable of handling a wide range of cryptocurrencies including Bitcoin, Litecoin, Ethereum, Altcoin, and so more. The clone should also offer support for multiple cryptocurrency pairs for ensuring successful trading over the given exchange platform. The Coinbase clone script that you choose should support the overall trading of coins and crypto tokens.

 

• Instant Buy/Sell: With the help of the instant buy and sell feature, the users should be able to buy as well as sell the given cryptocurrencies at any moment. It can be done by analyzing the trade market chart. Without any waiting time, users can be the owners of the preferred cryptocurrencies on the given exchange platform. Users can also think of trading crypto-to-crypto trading along with fiat-to-crypto trading on the exchange platform.

 

• Live Markets: With the help of the Coinbase clone website script, the traders can effectively get access to the price in the live market for the respective cryptocurrencies. This will help them in trading in an efficient manner. In turn, it will help in drawing maximum profits out of the given transactions over the exchange platform. The price for the Live market for multiple cryptocurrencies like BNB, Litecoin, Ethereum, and Bitcoin, can be viewed on the user panel of the trading view.

 

• Fiat Coin Support: The Coinbase clone script you will be choosing should support multiple fiat currencies for the end users. It should be capable of offering convenient trading with the local fiat currencies. It will help the traders from different sections of the globe to obtain cryptocurrency with the help of the fiat currency. It will help the exchange platform to get a hold of the traders from different parts of the world -irrespective of the locations.

 

• Trading Fees: For the Coinbase clone software, the trading fees will depend on the taker and maker status. These are structured within the tiered system as per the norms of the industry. The fees can commence at around 0.05 percent. Subsequently, these trading fees can reduce as the overall trading volumes will increase for large-volume dealers. When you wish to design a Coinbase-like exchange platform, you should decide the trading fee structure beforehand.

 

• Support for Coins on the Exchange: For trading purposes, Coinbase features around 152 pairs and 50 coins. You can choose from the significant coin pairs to enhance the overall user experience. 

 

• Security: Coinbase is regarded as one of the most secure crypto exchange platforms out there. You can come across standard security measures with Coinbase including 2-way authentication, activation of private keys, SSL encryption, and so more. 

 

• Unique Wallets: High-performing digital wallets are effectively integrated into the Coinbase exchange platform. It allows users to store and transact Bitcoins and other cryptocurrencies. Even though every wallet will be different, all of them make use of the same security levels and technology. 

 

• Appealing UI: User interface cannot be regarded as a feature. However, it is known to encompass all of the core components of the entire platform that tend to interact directly with the end users. When you are creating an exchange platform like Coinbase, you should develop a user-friendly interface that is simple to use and understand -even for those who are only starting out in the cryptocurrency industry. 

 

• Analytical Tools for Traders: The internal assessment or analytical system is the next important aspect that will help business owners in drawing the attention of high-end traders to the exchange platform. Traders can leverage the benefits of analytical tools for learning more about the market patterns and developing their tactics. 

 

• Pushup Notifications: This feature will assist the business to remain in touch with the end users. Both you and the users can benefit from the pushup alerts and notifications. It is because they will not end up missing out on any major event. You can also think of reminding your users about special deals, news, and promotions with the help of a notification.

Some of the unique features of the user panel of the Coinbase clone script are:

• Signing in and signing out is simple and straightforward.

 

• Users are capable of withdrawing when the admin will offer consent.

 

• Admin control panel for exercising control over different accessibility rights of the users.

 

• Every user will have specific wallet address for every cryptocurrency listed on the given crypto exchange platform or software.

 

• Users can think of buying and selling cryptocurrencies with the local currencies with the help of approved local payment gateways.

 

• Access to a platform with a responsive design working on a wide range of devices.

 

• Only KYC-confirmed customers can go ahead with depositing or withdrawing and trading.

 

• The admin URL is offered with HTTP access for preventing URL hijacking. You can also get access to detailed statistical reports.

 

• The available payment gateways and fiat currencies can be easily enabled as well as disabled by the admin

Some of the unique features of the admin panel of the Coinbase clone script are:

• The admin is capable of approving or disapproving withdrawal requests.

 

• The admin can also allow or not allow different payment channels and fiat currencies on the basis of market updates.

 

• The admin is capable of manually approving or rejecting submitted KYC documents or using an automated KYC verification tool.

Some of the highlighted features of the Coinbase clone script are:

• Powerful matching engine

 

• User-friendly trading interface

 

• Uninterrupted cryptocurrency trading

 

• A chat system working in real time

 

• Smart contract-based systems ensuring the highest levels

 

• Secure wallet integration

 

• AML or KYC verification

Security Features of the Coinbase Clone Script

As far as the cryptocurrency exchanges are concerned, the security features that are integrated play the most important role. There have been specific hack incidents that have happened in the past due to the involvement of poor security features. While it might appear overwhelming, still implementing specific security features in the crypto exchange platform can make your solution highly resistive to frauds and hacks. 

Moreover, it also helps in increasing credibility amongst the users. Some of the advanced security features you can include in a Coinbase-like crypto exchange platform are:

• Anti-phishing software

 

• AML and KYC verification

 

• 2-step authentication

 

• HTTPS authentication

 

• Blockchain-enabled

 

• Secured wallet

 

• Multi-sign enabled wallet

 

• SQL injection prevention

Top Reasons to Choose the Coinbase Clone Script

The Coinbase clone script is available as a readymade website script. It sports all the important trading features of the famous Coinbase exchange. With the help of the given Coinbase clone script, you can think of customizing the advanced features of your crypto exchange platform depending on your specific business needs. Moreover, the clone script will also feature all the core functionalities -just like Coinbase. 

Some of the leading reasons why businesses all around look forward to using a Coinbase clone script for the development of a feature-rich crypto exchange platform.

• Coinbase clone script features all the advanced existing functionalities of Coinbase with top-class security advancements.

 

• The clone script also comes with a wide range of fiat withdraw and deposit options. Therefore, your users can make use of the available options for exchanging the fiat to crypto forms of payments.

 

• The crypto exchange platform out of the Coinbase clone script will serve to be a friendly platform. Coinbase is a user-friendly crypto exchange platform that currently offers its services across 55 nations of the world. 

 

• Coinbase has earned the reputation of being one of the most secured and trusted crypto exchange platforms in the modern industry. The exchange boasts the presence of more than 13 million active crypto users all around the world.

 

• With Coinbase clone script, the users can ensure instant and highly secure transactions amongst users. This fact draws the attention of business owners and users alike to become a part of the Coinbase exchange.

 

• Users are capable of storing the crypto coins securely in the respective cold storage.

 

• The Coinbase exchange platform is known to offer support to all leading digital currencies of the world. Therefore, the Coinbase clone script is also available with the same features and functionalities.

 

• With the help of the Coinbase exchange platform, users can think of instantly creating dedicated accounts while linking their bank accounts for the trading of cryptocurrencies. 

 

• The best part is that a Coinbase clone script is fully customizable across all stages of development. This feature allows business owners to add, remove, or modify specific features or functionalities to meet unique business needs. The adaptable platform of Coinbase clone script will help in complementing and improving the respective crypto exchange platform. 

 

• Due to the overall return on investments, the Coinbase clone script is more valuable than other available platforms. It is possible to create multiple sources of income like listing fees, trading fees, freemium fees, transaction costs, Google AdSense, and so more.

 

• A number of business owners trust Coinbase clone script. It is because it has the capability of handling over 1.4 million transactions on a per second basis. 

In addition to the immense number of reasons to use a Coinbase clone script for the development of a crypto exchange platform, some of the business benefits of the solution are:

• Cost-effective solutions when compared with other crypto exchange development practices.

 

• Totally customizable depending on your business requirements.

 

• Advanced security features integrated with the given script to ensure maximum security of the crypto exchange platform.

 

• The Coinbase clone script takes minimal time to develop, deploy, and customize in the form of a complete crypto exchange platform. 

Even after the presence of various different cryptocurrency exchanges in the modern crypto market, Coinbase is still a highly preferred platform by a number of cryptocurrency business owners. It is because:

• Coinbase serves to be a prominent cryptocurrency exchange platform as far as user-to-admin working model is concerned -especially when compared with other types of cryptocurrency exchanges.

 

• Beginners in the field of cryptocurrency trading find the Coinbase exchange platform quite simple. They can easily trade in the given exchange because of the user-friendly interface of the platform.

 

• Coinbase also offers credit card payment options. It is highly welcomed and appreciated by cryptocurrency traders.

 

• OTC or Over-the-counter crypto exchanges allow the traders to think of buying or selling cryptocurrencies directly from the platform’s admin panel. There is an increasing fan base for OTC or Over-the-Counter crypto exchanges. 

To leverage the immense market advantage, a number of crypto startups think of using leading crypto exchange platforms like Coinbase. Towards minimizing the business and technical hassles in association with the conventional crypto exchange platform development practice, crypto businesses prefer a readymade or pre-built Coinbase clone script. 

Also Read: Decentralized Crypto Exchange Development: Important Things To Keep In Mind

Steps in the Development of a Coinbase-like Exchange Platform

If you are thinking of developing a Coinbase-like exchange platform, here are some important steps to follow:

#Analyzing Your Competitors

The modern crypto market is booming and expanding at a rapid pace. Due to this, a number of businesses are thinking of launching an effective cryptocurrency exchange platform in the market. Therefore, initially, you are expected to execute in-depth market research while gathering ample information about your competitors. 

#Defining the Target Market

When you determine and define the target market, it becomes an integral step in the development of the crypto exchange platform like Coinbase. As everyone out there cannot be a potential customer for your business, it is important to specify the target market beforehand.

With the help of relevant statistics and crucial market research data, you are capable of better understanding your prospective customers along with their needs & requirements.

#Understanding the Design of the Platform

One of the most crucial steps is designing the crypto exchange platform with the help of useful prototypes and wireframes. Wireframes are essential to implement the major features of the platform. On the other hand, prototypes are needed for visualizing the interaction of the users with the platform in major details. With the help of proper programming, it will also include the client-end logic of the entire set of website pages.

#Backend API

While APIs are not visible to the end users, it is still important for the sever end to ensure specific internal application logic. The server end is also responsible for managing a wide range of functionalities including user authorization, user authentication, user transactions, cryptocurrency bets, and server-side functionality of the admin panel. 

#Blockchain Technology Integration

For high-end transparency and security concerns, the next important step is to ensure the integration of the revolutionary blockchain technology into the respective crypto exchange platform.

The appetite of cybercriminals has grown due to the increase in the number of digital payment solutions and platforms. The platform that you develop should be a secure foundation for ensuring all types of cryptocurrency transactions implemented with the help of digital wallets. 

Due to this, the adoption of the blockchain technology will help in delivering the highest level of transparency and security. The technology will serve as a public ledger responsible for showing the full details of the respective transactions to only the involved parties. There is no involvement of third parties getting access to confidential data.

#Platform testing

Testing is an important consideration during the creation of the crypto exchange platform. QA engineers can begin the testing process as soon as the coding process starts. It is because this stage helps in the identification of important logic bugs while eliminating them at the same time.

It is possible to use both automated as well as manual testing methods. Manual testing turns out to be time-consuming and susceptible to human errors. On the other hand, automated testing is designed as well as executed by computer or some advanced testing tool.

#Launching the Platform 

Once the exchange platform has been developed without any errors or bugs, you can think of launching the platform. If you are in need for support, you can think of hiring professional help. 

Conclusion

You can observe that choosing a pre-build or readymade Coinbase clone script is an ideal choice. If you wish to develop a crypto exchange platform like Coinbase, you are expected to choose a reputed crypto exchange platform development company. It is because only the professionals can deliver the best outcomes in the form of a feature-rich and highly secure crypto exchange platform for your business. 

Get the best results out of professional Coinbase-like crypto exchange platform development services from the experts.