Introduction
With growing competition in the market, there is a trend of custom website development to help you have your website as you like. There are various platforms available on which your website can be designed and developed. The most common platforms that are used for website development include clone scripts such as Coinbase Clone Script, clone apps, white labels, etc.
In this blog, first, we will try to outline everything you need to know about Binance, including its noteworthy features, then, we are going to talk a little more about Binance Clone Script Price and we provide you with information in this regard, and also if you are into NFT market place we recommend you to check out OpenSea clone Script price page.
So if you are one of the people who want to know about Binance clone script cost, join us on this blog.
Everything You Should Know About Binance Clone Script Price
Photo caption: The number of features changes the price of exchange development depending on your request and needs. For more information about the features, characteristics, and development costs of each of them, follow us in the rest of the article.
Binance Clone Script Development follows the average cost similar to building a website. Crypto technology has an extended collection of features that may vary the cost of development. The features include multiple platforms, multiple wallets, and currency; two-way authentication, chatbots, additional backups, large servers, and much more. The Binance Clone Script Price is a variable factor. It varies depending on some of your requirements, choices, and development rate.
How Much Does It Cost to Develop a Binance Clone Script in 2022?
If you desire to buy a ready-made platform to create your Binance exchange, you will pay for the base platform which costs around $5000.
This base platform would have all the essential features and functionalities that you can use to launch your Binance exchange faster into the market.
You can then add the additional features of your choice in the future for a cost of 25$ an hour, which is the minimal charge for any app development. Generally, Development costs will be around $5,000 to $50,000.
Note: These costs may vary based on the requirements.
It is suggested to share your requirements with our blockchain developers team and calculate the average cost based on the features.
Main Features of Binance
The Binance cryptocurrency exchange platform has been developed for about 6 years, with services and features that are as innovative as they are varied. This also gives it a certain advantage over its competitors, most of whom do not have such diversified offers. Here are some of the features you can find on the web:
Binance Mobile App (for IOS & Android)
Seasoned developers, designers, and entrepreneurs already know that building a mobile app from scratch is extremely costly, in terms of time, money, and energy. Using mobile app duplication services is a great way to cut start-up costs for anyone who wants to build a new app. Mobile app clones will also help you create mobile apps months faster.
In order to facilitate access to its services, Binance has created a mobile application. As with the desktop platform, the application has been designed ergonomically and can be easily used by a novice. You can also find all the products, services, and basic functionalities of the website there. Among other things, you can:
- Buy and sell cryptos from your Smartphone.
- Receive and send cryptos quickly and securely.
- Invest in cryptocurrencies and in crypto pairs.
- Communicate with customer support teams 24 hours a day, 7 days a week.
In this part, I am reviewing our Binance mobile app clone on the market, which will allow you to create a Binance mobile app for iOS and Android, much faster and only for a small fraction of the price. As a reminder, application development companies specializing in mobile charge tens of thousands of dollars to build even the simplest applications.
but our Binance Clone App Development which is based on the number of features you request will cost 2,500$ to 6,000$.
We have developed an advanced app for Binance similar to other popular exchange apps like Paxful via Paxful Clone Script using android and iPhone platforms. This app is for both buyers and sellers, as users can trade cryptocurrency.
Know Your Customer(KYC)
Know Your Customer, or KYC for short is regulated by governments’ anti-money laundering (AML) laws to prevent money laundering and criminal activity. With the stability and transparency of the blockchain, it provides an easy way for financial institutions to quickly and securely access up-to-date customer information. This increases operational efficiency, increases trust between users, and also reduces costs, process time, and user data collection.
The blockchain authentication process has the potential to be much faster, simpler, more secure, and more efficient than traditional KYC. Blockchain technology is a distributed general ledger (DLT) distributed to all network users. This means that there is no intermediary in between. What this means is that blockchain databases are unchangeable and make this information more valid. These databases can be used to keep personal customer information.
There are two levels to authentication in Binance; Level 1 is the unapproved level (in which you are only allowed to withdraw 0.06 bitcoins and you need to send general documents such as home address and phone number) and level 2 is approved. To increase your withdrawal amount, you must have a verified or Level 2 account.
This exchange will receive your information for security reasons. The Binance platform is made of a multi-layered structure. To increase the security of your wallet, Binance also offers Google 2FA.
Infographic of Added Features (Cost + Days)
Infographic Description: for example, to add the stop limit feature, the price of cryptocurrency exchange software is increased by up to 25%, and about 20 working days are added to the time of launching the project.
OCO
On the other hand, there is what is called an OCO, i.e. One Cancels the Other. Here you can place both orders: The Stop Limit and the Limit order. The difference lies in the fact that as soon as one of the orders is executed partially or entirely, the second is automatically canceled. This is the reason why OCO orders are considered a kind of automated trading.
Adding this feature increases development costs by up to $1,200.
Margin Trading
Margin trading allows you to borrow money from the crypto exchange which you use to buy an underlying asset – in this case Bitcoin, Ripple (XRP), Ethereum (ETH), TRON (TRX), and the platform’s native token – Binance Coin (BNB). Trade long and short positions to take advantage of all market setups. You must activate your margin account by going to the Portfolio tab and clicking the “Activate” button.
However, to access the feature, you must have completed the KYC process and activated the 2FA feature (phone authentication or Google authentication).
Adding this feature increases development costs by up to $4,700.
Stop Limit
A stop-limit order is one of the many order types you will find on Binance. The best way to understand a stop-limit order is to break it down into stop price and limit price. The stop price is simply the price that triggers a limit order, and the limit price is the specific price of the limit order that was triggered. This means that once your stop price has been reached, your limit order will immediately be placed on the order book.
Adding this feature increases development costs by up to $1,200.
Binance Futures
Binance declared the ability to trade futures in September 2019, initially for Bitcoin only. The exchange has since added futures for Ethereum, Tron, and Chainlink among several other options.
As an option contract, trading futures gives you the right (not the obligation) to buy or sell a given asset on a given future date and at a set price. You, therefore, have a purchase option (buy) and a sale option (sell).
When you open a futures trading account, you can choose to trade Perpetual Futures or Quarterly Futures with fees well below the industry standard: 0.075% (maker) and 0.025% (taker).
Adding this feature increases development costs by up to $7,500.
OTC
OTC is an English abbreviation of the expression “Over The Counter”. There are different reasons that can push individuals to obtain cryptocurrencies over the counter. However, for the sake of clarity, we will only address the two main ones. The first of these is with the aim of avoiding too great a change in prices. If you want to buy a large number of tokens of a digital asset, the order book can then be very impacted and prices explode upwards. The same goes when you want to sell too many tokens, but this time down.
When one person wants to buy a significant amount of a given cryptocurrency and another wants to part with it, then they can get in touch and decide to trade under the table. Thus, the seller receives more money for his tokens, while the buyer pays less.
The second reason is to remain discreet. On some exchanges, it is necessary to carry out a KYC procedure to obtain cryptos. As a result, it is then possible to link wallet addresses to an identity. By carrying out OTC transactions, no KYC procedure is required and one can thus maintain a certain amount of anonymity.
Adding this feature increases the development cost by between $1,400-3,000.
The Platform You Requested
The price of developing each type of crypto exchange platform differs. Different Types of Cryptocurrency Exchanges:
Centralized Cryptocurrency Exchange
A Centralized Exchange acts as an intermediary between people wishing to buy and those wishing to sell crypto-currencies. In concrete terms, it is a trading platform allowing market orders to be executed quickly and transparently. There are also several types of CEX platforms. But in general, each of them has the following characteristics:
- An easy-to-learn interface based on user type or preferences.
- An administrative part of identity verification.
- A tool for trading.
- The database has an in which several pieces of information are stored.
- Generates income through commissions for each transaction which ranges between 0.1% and 1.5%.
- Storage of all users’ assets inside the exchange.
- In short, a centralized exchange is a trading system that matches a buy order placed by a user with a sell order.
Decentralized Cryptocurrency Exchange (Binance Dex)
DEXs are decentralized cryptocurrency exchange platforms that, unlike centralized exchange platforms, can more effectively fight against computer attacks. In addition, they preserve more security, privacy, and autonomy. The majority of DEXs (90% of the most active) is hosted on the Ethereum network. In practice, if you want to exchange ETH for DAI, for example, aggregators will compare the different rates charged by DEXs, and proceed with the exchange on the one that offers the best rate. In the end, the platform is a simple interface that puts a buyer and a seller in contact. For this, you don’t need anything more than a username, password, and a crypto wallet.
Thus, the Binance DEX platform makes it possible to buy and sell cryptocurrencies in a decentralized way. It’s fast and easy and there is enough liquidity. A flaw that should be highlighted is the lack of crypto assets available on the platform at the moment. Indeed, only the tokens of the Binance blockchain are tradable at the moment. Subsequently, the platform wants to create “clone” tokens such as BTCB, ETHB, or LTCB, whose price would be the same as the BTC, ETH, and LTC cryptocurrencies respectively, in order to allow users to buy and sell assets that do are not on the Binance blockchain.
Peer-To-Peer Crypto Exchange
P2P exchanges are decentralized cryptocurrency exchange platforms where all operations are maintained by software. These platforms connect users directly with each other, without a third party processing trades for them.
On P2P exchanges, traders are directly connected to each other and they trade without an intermediary, which is generally cheaper, although it may be less secure.
There is software that brings some level of security to the process, of course, although some risk still exists.
Programming Language and Framework on Binance Exchange Clone
Django: Django is a free and open-source web application framework written in Python. A web framework is a set of components that helps you develop websites faster and easier.
The Spring Framework: Spring makes it easy to develop Java applications, whether it’s a common offline application or a web application. The main advantages of the framework are its agile source codes and the ease with which you can adapt the framework to your needs. Also, as a template in Spring classes is defined for different programming interfaces of an application, thus simplifying the work with the API; as they offer automatic resource management, uniform error management, and other advantageous aids.
Laravel: The code you write with Laravel is always simple, readable, concise, and pleasant to read. It includes programming standards as well as the ability to easily add extensions. Laravel is positioned as a PHP web application development framework with an elegant, simple and concise syntax, and also it cost less to be developed.
Node.js: Node.js is an application, to be precise a framework, which is used to write server-side Javascript applications. In a nutshell, while Node.js is processing a procedure, while it is waiting for it to be completed, it can already start with other operations. This can bring many benefits in terms of performance.
Added Features of Binance Website That Will Affect the Binance Clone Script Development Cost
Crypto Payment Gateway Integration
There are many payment gateways available and for this reason, it becomes quite confusing to choose the right payment gateway that suits your needs. If you don’t know how to choose the right payment gateway, you should try to get a consultation from us. Expert iOS/Android app development. we will walk you through every step needed to integrate a payment gateway.
Crypto Wallet Development & Integration
The transaction of a cryptocurrency is done between peers using software called “Wallet”. Whoever performs a transaction uses it to transfer balances from one account to another. To transfer funds, you must have a password or private key.
Our experts at Radin, develop a dedicated crypto wallet that ensures the security and protection of your assets. there is a synchronized wallet with advanced features, as a result, you do not need another company to provide the crypto wallet. Overall, 30% of the cost of developing a Binance Clone Script is reduced.
Liquidity API
The API was designed to allow Defi developers to easily tap into DEX liquidity in a fast, reliable, and easy-to-use manner. by getting this feature, you can connect to a large volume of liquidity.
The cost of adding this feature ranges from $1,000 to $2,700.
Multicurrency Support
Another peculiar aspect of Binance is the large amount of crypto supported, with a very extensive list of assets on which to trade.
Of course, the service provides all the main cryptocurrencies, such as Bitcoin and Ethereum, but also many emerging cryptocurrencies. In fact, on Binance there are more than 300 cryptocurrencies between altcoins and stablecoins and many crypto pairs for trading.
Multi-Language
We equally represent all of our customers around the world and respect the fact that many feel more comfortable speaking in their native language. Our ability to communicate in many languages makes troubleshooting easier and means your needs will be met quickly and efficiently.
We will continue to add more languages to our offering as needed. If your language is not yet available why not contact us and make a request?
The cost of getting the first additional language will add $2,000 and it will add $1,000 for each language that will be added to the platform.
Understand and Apply UI/UX Design at A Reasonable Cost
The UX or user experience can be defined as the overall experience of the Internet user when he visits a website. If the navigation is fluid and the Internet user quickly obtains all the answers to his questions, then his user experience will be satisfactory. By extension, the UX designer works to optimize a website with the aim of satisfying users, so that they become loyal customers or regular visitors.
UI, or user interface, refers only to the design part of the interface. The role of a UI designer will therefore be to harmonize the interface of a website, in order to make it visually pleasing for its users.
Although UI and UX are two different concepts, they are nonetheless inseparable. In fact, the UI is a component of the UX: when a UX designer works to optimize a website to meet the needs of Internet users, he cannot leave aside the graphic and visual aspects of the interface. According to these explanations, the effect of UI and UX on the price of web design can be comprehended.
Costs After Launching the Cryptocurrency Exchange
How Much Do SEO Services and Marketing Cost in our company?
Per project: The average cost for project-based SEO services ranges from $1,000 to up.
Cost to Host a Website: from $100 to up per month
Cost of SEO: from $1,000 to up per month
What is Binance Exchange?
Launched in 2017, Binance is a cryptocurrency platform for buying and selling digital assets. In terms of trading volume, it generally registers the highest volumes, which makes it a heavyweight in the sector.
Its popularity comes in particular from the fact that it was one of the first to have democratized crypto-currencies and to offer them to the general public. In 2019 alone, it had more than 15 million users from almost 180 countries around the world. Today, it has nearly 90 million.
Binance is more than 600 referenced cryptocurrencies, ranging from major cryptos to lower capitalization assets. Among the most popular are:
- BitcoinBTC
- Ethereum ETH
- Polkadot DOT
- Cardano ADA
- Binance Coin BNB
Trading Limits on Binance Exchange
Binance has no limit on the amount cryptocurrency users can deposit on its crypto exchange. When it comes to cryptocurrency withdrawals, the limits depend on the crypto-assets and user verification level.
However, there is a limit on the daily trading volume, again it depends on the verification level of the account and the digital assets.
Here is an example with Bitcoin:
Minimum trade size: 2 BTC
Maximum trade size: up to 100 BTC
Options Trading
Outside of spot trading, Binance is the largest derivatives platform by volume. It offers margin and futures trading options with fees of 0.02% (maker) and 0.04% (taker).
Final Words
The team you need to build a Binance exchange includes:
- Backend & iOS/Android developers
- Frontend developers
- Graphic Designer
- Quality Analysis
- Project Manager to create and manage project milestones
Choose Radindev to gain a crypto exchange solution to help your business.
I hope this article has helped you. Do you have a question? Just leave your comment.
