Why start exchange like Binance?

Why start Binance Clone?

Why does anyone want to create a crypto exchange like binance as it is already super performing? The reason is simple. Startups and enterprises who create cryptocurrency or tokens need to sell their crypto tokens via an exchange. But selling via exchange is not easy. The popular crypto exchange company like Binance may charge you a big upfront cost for listing the coin as well as a revenue sharing model for each transaction. 

Due to these barriers, entrepreneurs who get involved in token creation use binance clone script to build  their own exchange. Listing their own token in the exchange is free of charge with surplus benefits.

Primary business models Entrepreneurs can copy from Binance

• Exchange fee - Binance will charge 0.2% of fee on every transaction/trade that happens inside the exchange. This can be split up into diversified schemes as they call this as maker-taker, volume based tiering etc. 

• Withdrawal fee - The platform charges certain fees on users when they opt to withdraw the fund. It may be in terms of fiat withdrawal through bank or crypto withdrawal in hardware wallet.

• Listing fee - Binance exchange list crypto coins and digital assets to enable them for trading with a certain commission fee. The terms of fee may be initial listing fee or revenue sharing for every transaction.

• Margin fee - Binance can lend you cryptocurrency in advance for trading. The exchange charges specific terms of fee on borrowed amounts. 

• Other fee - When users don’t have time in monitoring crypto movements and conduct trade, there is an option called automatic algorithmic trade. When users opt-in for this, a fee may be charged on every order.

Advanced business models in Binance

• Institutional & VIP services - Binance has a dedicated program for big institutional investors and traders who do trades in bulk. The platform gives special perks in storage and custody options for accessing their funds which are separated apart from general exchange. Binance earns a percentage of fee for facilitating the custody & VIP privilege service.

• Binance broker program - Binance gives permission for accessing their trade history and implementing them on external third party business. Through API, other exchange businesses can use binance liquidity and build their business while Binance earns commission on every trade that happens. 

• Binance cloud white label - Binance cloud is the white label solution offered by Binance for enabling entrepreneurs to get started in crypto exchange business. End to end technical infrastructure is provided for operating exchanges. Binance charges a fee for backing up the exchanges technically.

• Token launch - Like crypto coin listing, Binance hosts token sale through a dedicated launchpad program. The project advice, support, and accessing the Binance liquidity are the benefits one can get. Listing of tokens on launchpad is processed with a standard fee given to binance.

• Binance DEX - Binance is known for its hybrid nature. It operates a decentralized exchange synchronously and receives gas fees for executing the smart contract agreement. 

• Features should be in Binance Clone Script

  Admin side 

  • Exchange owners can list unlimited pairs of coins or tokens in the platform without limitations.
  • Easy handling admin dashboard that can operate in the palm of your hand (Mobile App).
  • Unlimited API integration from any cryptocurrency exchange you inspire. Easy adaptability and developer friendly.
  • Transactions fees can be easily altered in the dashboard with respect to market fluctuations. No big setup needed as simple as that.

  User side

  • Storage - User funds, assets are placed in offline and cold wallets similar to what’s happening in Binance exchange.
  • Secure sign in method - Users are required to follow advanced security protocol methods like 2FA, hardware, SMS & email OTP, app based notifications.
  • Close monitoring - Every user account is watched with respect to the anonymous changes like password reset, multi-device login, personal information change etc.
  • User control - Institutional users can set up advanced security measures like IP address whitelisting and device management.

  Premium Add-on Features 

  • Spot Trading Engine.
  • Front-end UI.
  • Third party Wallet setup.
  • Admin Panel.
  • Multiple order types.
  • Unlimited crypto integration.
  • Rewards program
  • Third party payment API
  • Fiat-Crypto Trading
  • P2P Trading
  • Institutional & VIP trading
  • User navigation tutorial
  • Customer support system
  • Market price tracker

• Closing thoughts

• Hope you can figure out the business scope when creating crypto exchanges like Binance. Now you may figure out the short ways to start exchange. That's obviously binance clone script that's multi tested and backed up by software team behind for any additional support.

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  If you are in search of Binance Clone, you may end up in over priced binance clone script or end up in getting outdated source code. Try to get bug-free and multi-tested binance clone script that’s absolute user-friendly.