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LocalBitcoins rose to fame as one of the first peer-to-peer crypto trading platforms, based in Helsinki, Finland. It functions as a simple platform where people can buy or sell Bitcoin (BTC) by responding to classified ads posted by other users of the platform. While it’s a great concept, it can be frustrating to use. Unfortunately, it’s no longer a suitable option for most traders thanks to its lack of features, verification requirements, and geographical restrictions. However, these issues can be fixed easily, which we will come back to later. LocalBitcoins had a sort of cult following, as it acted as one of the main places that still allowed people to buy Bitcoins anonymously. However, as new legislation came into play, LocalBitcoins now verifies customer identities with traditional KYC processes, which angered a lot of old-school fans. Additionally, the option to buy Bitcoins with Cash was removed from the site. By 2019, the iconic trading platform had been overshadowed by new competitors like binance and Coinbase, but don’t let that fool you: Localbitcoin clone script is still considered a top trading platform even after its apparent fall from grace, which speaks volumes about how much people love the platform. How LocalBitcoins Work? LocalBitcoins is a peer-to-peer Bitcoin trading platform. It allows users to buy and sell Bitcoin through classified ads. The layout should feel familiar to anyone who has used online marketplace websites. Every account in LocalBitcoins has access to a free Bitcoin wallet to carry out transactions. The LocalBitcoins wallet is an easy-to-use web wallet, that facilitates transactions between users of the same platform. All transactions are subject to fees that are automatically calculated according to the congestion level of the Bitcoin network. Irrespective of the size of the transaction. However, transactions between LocalBitcoins wallets are free of charge. LocalBitcoins splits fund storage between cold wallets for security and hot wallets for quick and easy transactions. Pros and Cons Pros Peer-To-Peer Bitcoin Purchases Peer-to-peer purchases were one of the biggest selling points of LocalBitcoins back in the day. These purchases are fully decentralized, with no bank or similar 3rd parties getting involved. This keeps your transactions private. No Buying Or Selling Fees There are no fees for buying or selling Bitcoin on LocalBitcoins, so that’s one less barrier for investors to overcome. The platform does charge a 1% escrow fee on every completed trade after posting an ad, which you can avoid by responding to ads instead of posting your own. Wide Variety Of Payment Options The platform supports nearly all payment methods. Users can list the payment modes they’ll accept in their ads. And you can sort offers based on payment methods. The most notable exception is cash, which the exchange stopped supporting in 2019. Reputation System LocalBitcoins includes information on every user’s trading history, along with comments from other users, on their profile. This helps users find trustworthy and reputable traders and avoid shady people. Cons Risk Of Scams Peer-to-peer trading is inherently vulnerable to scams and fraud, and many have tried to take advantage of this fact. For example, a Buyer can pay for Bitcoin using a reversible payment method, and after they get the Bitcoin, they’ll dispute the transaction as fraud. Asks For Private Information LocalBitcoins attempts to create a trustworthy vibe by having four account verification tiers based on how much identity verification a user has done, and it comes into play when determining the maximum amount you can trade per year. But people who use decentralized exchanges feel like this is an invasion of privacy, as anonymity has always been a big deal in these circles. Only offers Bitcoin The platform only supports bitcoin. This shows the age of the platform and the lack of updates to better deal with contemporary needs. The lack of crypto options was not much of an issue in the past, but with hundreds of cryptocurrencies available now, it’s nice to have more options. Limited Features Unlike other crypto exchanges that offer advanced trading tools, LocalBitcoins only does one thing: connect people who want to buy or sell bitcoin to other buyers or sellers. Although it gets the job done, other platforms can offer so much more to users, making LocalBitcoins look less lucrative by comparison. So How Does White Label LocalBitcoins Clone Script Solve the Issue? The business model followed by Localbitcoins is pretty solid, the only reason it’s not as popular as the rest of its competitors is that it lacks features and variety. This is where white-label clone scripts come in. By first cloning the original bitcoin exchange platform, with all of its functions and design flairs, these clones can then be further modified by adding whatever features and changes you think the original is missing, or getting rid of elements that you think are unnecessary, and generally improving upon what LocalBitcoins built, making it far better suited to take on big names like binance and coinbase. What Is A Localbitcoins Clone Script? It is basically an open-sourced code base that replicates the design and functions of LocalBitcoins. The key word is “open sourced”, meaning anyone can take the code, examine it, make improvements and modify it as they see fit. In fact, Several companies exist today, for the sole purpose of developing and customizing clone scripts, along with additional related services such as hosting and customer support. Get in touch with our experts.., Whatsapp - +91 8807699334 / 8438836619 Skype - live:62781b9208711b89 Email Id - business@clarisco.com Telegram - https://telegram.me/Clarisco Book a Free Demo - https://rb.gy/rzcdrp

Generally, the localbitcoins clone script implies an architecture similar to the localbitcoins exchange. So, the clone script possesses an ad-based type of working nature.Now, you might have an idea about the localbitcoins clone script. Further, let us see about the working process of the localbitcoins clone script. Working process of the LocalBitcoins Clone Script Registration Process - Initially, your user needs to sign up to the website for starting their trade. Sign-up requires the user’s email or contact number to create their account for trading. Verification Process - After registration, the user needs to complete their KYC verification process. In KYC verification, the user needs to provide their KYC details respectively and wait till the account is approved by the admin. Start Trading - After the user becomes a verified member of the website, they can start their crypto trading. The user can start their trading by posting Ads with the details like accepted payment methods, trading limits, and other details. Or they can choose anyone among the existing advertisements. Transaction - When the user is satisfied with the terms of post ads, they can exchange their cryptocurrency with the help of an escrow system. The escrow method is one of the best services which is used during the transaction. It holds the cryptocurrency safely until the fund reaches the seller. After the confirmation, the cryptocurrency is released to the respective person. I think the above-mentioned points might give you knowledge about how it works. In addition to it, I would like to suggest to you one of the well-experienced clone script providers in the market - Coinsclone. They have been delivering top-quality crypto exchange clone scripts to their clients for years in the market. They provide bug-free LocalBitcoins Clone Script to their clients who are planning to launch a crypto exchange similar to a localbitcoins exchange. Get a free demo >> https://bit.ly/3T5J7lV

If you are a crypto enthusiast and looking for a top-notch crypto exchange platform provides to grow your crypto business? then you are in the right place! Take part in the P2P Crypto Exchange process by launching your own Peer-to-Peer Crypto Exchange like LocalBitcoins. Zodeak offers a White Label LocalBitcoins Clone Script that aids to Start your own P2P Cryptocurrency Exchange website like LocalBitcoins. Want to launch your own P2P Crypto Exchange like Localbitcoins? Feel free to consult with our experts! Whatsapp: 9360780106 Email Id: sales@cryptocurrencyscript.com Skype: https://join.skype.com/invite/vvW04HKqxhYI

LocalBitcoins growth is increasing very quickly in the crypto marketplace. Many startups and crypto enthusiasts are interested in trading using the LocalBitcoins platform. LocalBitcoins exchange clone script allows crypto users to exchange their cryptocurrency for bitcoins by posting advertisements where they state the exchange rate and payment methods for buying or selling bitcoins. Localbitcoins Clone Script Localbitcoins clone script is a crypto exchange platform like Localbitcoins. It provides a simple concept for users to buy and sell bitcoins.LocalBitcoins clone script is the crypto exchange clone software consisting the updating the features and functionalities like the LocalBitcoins.This clone script is Particularly designed from Bitcoin to buy and sell the users. Premium features of Localbitcoins clone script KYC/AML OTC trading option Margin trading Liquidity API Multi-language support Exclusive launchpad Multi-crypto wallet In-built chatbox Ads Based Trading Escrow Services Real-Time Data Stats Multi-payment modes Multi-currency Access & More Security features CSRF Protection Anti-Phishing AES Encryption Anti-DDOS Provision Escrow Powered Security Two Factor Authentication Dispute Management Soft & Hard Wallet Provisions Benefits of launching the Localbitcoins clone script Reputation system for screening users Access to a global network An elevated level of liquidity No limits on trading Largest member pool Multi-language support Escrow powered P2P system wide range of payment options Localbitcoins clone app development LocalBitcoins clone app features and functionalities are an exact replica of Localbitcoins. It is a simple p2p crypto exchange platform used for exchanging crypto like Bitcoin. Now, I hope you got an idea of what the Localbitcoins clone script is, and how it helps to make a profit. If you need to start a crypto exchange like LocalBitcoins just buy the Localbitcoins clone script from any reliable cryptocurrency exchange development company. They will assist you in the best way to launch a LocalBitcoins-like crypto exchange. Book a live free demo of >>> localbitcoins clone script For any inquiries regarding LocalBitcoins like crypto exchange development, you can reach me via Whatsapp: +91 84388 36619 Telegram: Clarisco Solutions Skype & Mail-id: business@clarisco.com