First of all, what is the LocalBitcoins clone script? Yahh! Let us delve into it first.
Localbitcoins Clone Script - Outline!
Localbitcoins clone script is a pre-programmed crypto exchange script that mimics the core features and functionalities of the localbitcoins clone script. By using the LocalBitcoins clone script, business owners can build their cryptocurrency exchange platform similar to LocalBitcoins instantly.
Work Flow of Localbitcoins Clone Script
User Registration and Verification Firstly, users can provide the necessary information about them like email, password, etc to sign up for a platform. Next, the verification process, after submitting the necessary details of user can go under identity verification to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML).
Creating a Bitcoin Wallet Once the user account is created the platform will offer the wallet to store the digital assets.
Posting and Searching for Advertisements
Posting and searching for advertisements to buy or sell cryptocurrencies. Post ads and search ads are available. Post ads: the platform user can create advertisements to buy or sell bitcoins. Search ads: buyers and sellers can search via the available ads for their preferences.
Initiating a Trade A user can initiate a trade by selecting an advertisement & sending a request to another party.
**Escrow Service ** The seller’s cryptocurrency is held in escrow by the platform once the trade is initiated. This escrow service ensures that the seller cannot access the cryptocurrency until the transaction is completed.
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