natsha watson
by on January 3, 2022

With conventional financial assets not providing yields to investors, cryptocurrency has proved to be a viable alternative. Which is that platform that ensures round-the-clock buying and selling of tokens? It is Paxful. Currently, the trading platform has more than 6 million users and supports more than 350 payment methods. Do you want to fully use the potential of Web 3.0? Develop a Paxful clone now. 

How does crypto trading occur on a Paxful-like platform? 

  • Retail and institutional investors, as well as corporate companies, should create an account on the crypto trading platform similar to Paxful. They need to undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) verification. 
  • Later, users need to tap the buy or the sell option. Further, traders can choose options like Bitcoin (BTC), Ethereum (ETH), Tether (USDT) etc. 
  • Moreover, investors should select the payment method. They can choose options like digital wallets (Google Pay, PhonePe, and Paytm), Immediate Payment Service (IMPS), debit and credit cards, and net banking. 
  • Traders need to select an amount and choose the fiat currency (Indian Rupee, British Pound, Canadian Dollar, Euro, US Dollar etc) as per their location and convenience. 
  • Further, information is shared with another dealer. They can view a list of offers and choose the best one according to their requirements. 
  • How can the rights of both buyers and sellers be protected? The escrow mechanism ensures that. Cryptocurrencies, stablecoins, and DeFi tokens are held in the third party account securely. Later, the amount is transferred to the buyers and sellers after the completion of the trade. 
  • Is there anything else? An integrated software wallet ensures that. Users can deposit their virtual assets safely, link them across numerous devices, protect the funds using secret passwords, and also keep a real-time watch over their portfolios. 

Wrapping Up

Do you aspire to be a strong force in the global crypto trading sector? Develop a Paxful clone by contacting a crypto exchange creation enterprise soon. 

Posted in: Technology
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