You might have heard about WazirX! One of the best-known P2P crypto exchange platforms!
WazirX was flashing out in the news headlines after it was acquired by the renowned crypto exchange platform Binance. The past few months have resulted in an increase in the trading volume of this exchange, and it reported an annual growth rate of 160%.
If you are considering to venture into P2P crypto exchange development like Wazirx, here’s a blog for you. In this blog, we’ll explore everything you need to know to build a crypto exchange platform like WazirX.
Let’s get started!
What is WazirX?
WazirX is a known peer-to-peer crypto exchange trading platform that allows trading of several crypto assets, including Bitcoin, Ethereum, and more. This platform offers advanced trading features and a user-friendly interface. You may even find a feature of the live open order book system that allows the trading of crypto assets.
Some of the features of Wazirx include:
- User-friendly interface
- Multi-cryptocurrency support
- Liquidity
- Robust security features
- Advanced trading features
- Token launchpad
- API integration
- Customer support
Methods to Build a Crypto Exchange Like WazirX
Building a crypto exchange like WazirX can be approached in two main ways, such as:
1. WazirX Clone Script
A clone script replicates the core features and functionalities of an existing P2P exchange, like WazirX. It is a quicker and relatively cost-effective method to launch a crypto exchange. Here’s how you can proceed with a WazirX clone script:
- Research and select a reputable white-label solution provider that offers a WazirX clone script.
- You can customize aspects such as branding, UI/UX elements, and additional features to differentiate your exchange.
- The clone script typically includes basic features. Yet, you may integrate additional features and payment gateways as per your specific needs.
- Thoroughly test it to ensure it functions correctly and securely. Address any bugs or issues before deploying it live.
- Ensure compliance with local regulations, including KYC/AML procedures, and obtain the necessary licenses.
2. Development from Scratch
Building a crypto exchange from scratch provides more flexibility and control over the features and architecture. Below mentioned are the steps involved:
- Define your exchange’s target audience, revenue model, and feature set.
- Choose appropriate technologies for backend development and frontend development.
- Design a scalable and secure database architecture to handle user accounts, transactions, order books, etc.
- Implement robust security measures, including SSL encryption, two-factor authentication, cold storage, and regular security audits.
- Develop a fast and efficient order-matching engine to handle high-frequency trading and ensure fair execution.
- Create an intuitive and responsive user interface for traders to interact with the exchange seamlessly.
- Conduct extensive testing to ensure the exchange functions smoothly under various conditions. And lastly, deploy the exchange on secure servers.
- Cost to Develop a Crypto Exchange Like WazirX
The cost to develop a P2P crypto exchange platform lies somewhere between $4K and $20K. The exact cost is dependent on various factors that can significantly influence the overall cost. Here are some factors to consider when estimating the development costs:
- Choice of the technology stack
- Robust security measures
- User Interface (UI/UX)
- Trading engine
- Legal licenses and compliance
- Payment gateway integration
- Testing and quality assurance
- Additional features
- Maintenance and support
- Wrapping Up
The world of cryptocurrencies is full of opportunities, and with the right development partner by your side, you can also build a successful P2P crypto exchange platform like WazirX.
Technoloader is a leading P2P cryptocurrency exchange development company that provides top-notch solutions to clients based on specific business needs. Their experts can help you develop and deploy crypto exchange clone scripts to allow them to enter the market quickly.
So, get in touch with them and build your crypto exchange like WazirX!
