Cryptocurrency is no longer the future—it is the present. So, if you want to boost your presence in the crypto world by launching your own exchange platform, now is the time. And what better way to start an exchange platform than creating your own Coinbase trading platform?
Why? Well, read on!
In this blog, let me walk you through the blueprint for building your own Coinbase-like trading platform.
Cool, right? Then let’s go!
Why Should You Build Your Own “Coinbase Trading Platform”?
Huge market opportunities
- The crypto market is flourishing and expanding as we speak. More people are eager to get involved, leading to a higher demand for reliable crypto exchange platforms.
- So, with your Coinbase-like exchange platform, you can meet the needs of the industry and succeed.
Thriving revenue channels
- Building your own Coinbase trading platform can give you a wide range of profit-making opportunities, which include:
- Trading Fee
Earn whenever your users make a trade on your platform.
- Withdrawal Fee
Generate revenue each time your users want to transfer their funds from the platform to their external wallets.
- Listing Fee
You can charge crypto projects a fee to have their tokens listed on your platform.
- Margin Interest
You have the option to take a fee from users who want to borrow funds and trade with leverage to boost their profit potential.
- Funding Fee
Users who wish to profit from price shifts and trade futures contracts can be charged a funding fee to hold their positions.
- Staking Fee
Give users a chance to secure passive income by staking with flexible or fixed choices and collect a fee for offering the service.
- Advertisement Fee
You can make money by allowing third-party apps to advertise on your platform.
- Convert Fee
For those who prefer a simpler trading experience without the order book, you can provide direct trading options and charge a conversion fee.
- NFT Platform Commission
You can give your platform users the option to trade NFTs and earn a small fee for facilitating the service.
Respected brand presence
- Since Coinbase is a trusted name in crypto, you can use its brand identity to create a sense of familiarity for your users.
- Having a solid brand identity allows you to attract both novice traders and skilled traders to your platform.
The Blueprint to Build Your Own Coinbase Trading Platform
Do Proper Research
- You must grasp the fundamentals before you start developing your own Coinbase-like trading platform.
- Learn about blockchain and crypto technology to better understand your plans.
- Do market research to identify your target audience and consider which exchange type (CEX, DEX, or Hybrid) will fulfill their requirements.
Choose a Reliable Provider
- Once you are fixed on what you are going to offer your users, get in touch with a reliable Coinbase clone script provider.
- List the providers near you. Compare their work, what they offer, costs, and timeline to choose the right one for your project.
Customize Your Script
- After getting the script from a provider, it’s time to tailor it to your needs.
- Customize every aspect of the script, from its features to its interface, to create a trading platform like Coinbase that belongs to you.
- The script allows for endless customization, including adding third-party APIs and adjusting transaction methods. You have complete control to modify everything.
Incorporate Core Features
- Coinbase’s strong reputation can draw people in, but the features you offer will keep them interested and help build loyalty among users.
- Think about adding these key features to your own Coinbase trading platform to make it more appealing.
- User dashboard
- A user dashboard allows users to check key information, including their wallet balance, account activity, the devices they used to log in, and quick options for deposits and withdrawals.
- Multi-currency & Multilingual support
- Offering users the ability to trade popular and up-and-coming cryptocurrencies helps you accommodate different preferences.
- You can enable them to trade comfortably in their preferred language by providing a variety of options to switch the interface to English, Turkish, French, Arabic, or Farsi.
- Built-in wallet Integration
- To allow users to trade with peace of mind, give them an in-app wallet to store and manage their crypto assets efficiently.
- Security Features
- Be sure to add strong security options to your platform, like two-factor authentication, data encryption, cold storage, and anti-DDoS services, among others.
- Advanced Trading Tools
- To support users with different abilities and preferences, offer a variety of trade types such as spot, margin, and futures.
- Additionally, include advanced orders like trailing stops and stop limits, along with basic market and stop orders, to help them manage risk effectively.
- Make sure that you provide them with real-time price feeds and charting tools to assist them in making more informed trade decisions.
- Admin Dashboard
- With an extensive admin dashboard, you can easily manage your entire platform operation from one single interface.
- Unified User Account
- Allow your platform users to access various trade types without having to switch accounts, such as using the spot wallet for spot trading, the margin for margin trading, and the future wallet for futures trading.
- User dashboard
Test Thoroughly
- Once you build your platform, make sure to thoroughly test it before you release your platform. Make sure to release your platform to a group of beta testers first to get their feedback on whether the trading platform is working as intended.
- After you get your feedback from your beta testers, incorporate those changes in the script to improve its performance.
Launch and Promote
- Once you are confident that everything is in place, you can introduce your platform to the market with a bang!
- When your platform goes live, be sure to promote it thoroughly using a variety of promotion channels like social media and influencer marketing.
Continuous Feature Updates
- You might be thinking that’s all there is to developing your own Coinbase trading platform, but you’d be wrong.
- Keep your platform up to date by providing regular updates for features and security. A dependable provider can handle these updates and ensure your platform stays current.
Conclusion
Launching a Coinbase trading platform can be rewarding, but it also comes with challenges. By following this blueprint and taking advantage of the capability of a Coinbase clone script, you can develop a secure, user-friendly, and scalable platform that serves the needs of today’s crypto traders.
Combining innovation, ease of use, and security can help you create a major platform in the industry. Reach out to a trusted development company like Zodeak to achieve success like Coinbase.
Take the leap and bring your dream platform to life!
