10 Must-Have Features in a Wazirx Clone Script You Should Be Aware of

Centralized exchanges continue to be at the heart of trading activity, even as the crypto landscape changes. One of the biggest names in the space is WazirX, a homegrown exchange based in India that gained trust by combining simplicity with advanced trading. 

If you’re an entrepreneur looking to invest in a profitable currency trading model, launching a clone of WazirX’s exchange is an incredibly smart and scalable opportunity for you. However, simply cloning a random exchange will not do, as WazirX is successful not because they provide the same service as every other exchange, but because they have a couple of unique features to differentiate themselves from other platforms.

In this blog post, we will look at 10 unique, must-have features that you should make sure are included in your WazirX clone script to bring real-world, battle-tested crypto trading capabilities to your users.

Quick Buy & Sell (Quick Trade) Functionality

WazirX’s Quick Trade option allows a beginner to buy and sell crypto in a matter of seconds without having to use the traditional order book. The Quick Trade option eliminates complexities for users and indicates that the platform is for people who simply want to quickly trade without conditions. 

The Quick Trade option can be replicated in your clone in order to allow first-time users to get in and out of a trade without friction and improve the retention of your users' casual or retail trading activity.

Why does it matter?

This option is perfect for taking non-technical users on board who don't want the technical graphs and trading pairs.

Advanced Exchange Interface with In-Depth Order Book 

The standard exchange module on WazirX has intelligent depth in the order book. Live trade updates, a flexible charting system, are just a few features offered.  Orders are matched via a low-latency trading engine that handles the intelligence of matched limit and market orders and allows traders to trade flexibly. 

So, to build a genuine alternative, your script must incorporate support for real-time data, alerts on price, and basic charting analytics features.

Why does it matter?

Professional traders desire speed, accuracy, and transparency.  A full order book view provides an opportunity to offer trust and increases activity.

Smart Token Allocation System

WazirX also gained some notoriety for its token allocation mechanisms, particularly during high-volume periods and new listing or Initial Exchange Offering (IEOs). 

The practice of limiting allocation of high-demand tokens to users heavily engaged with the platform (acting as holders) ensures a fair bidding process to ensure the limited supply does not go to the first 10 or 20 people. 

A clone script that has the methods to identify STAS on a user's account will leverage this model. This was eventually how WazirX virally exploded as a user-retention mechanism.

Why does it matter?

This encourages customers to stake, or hold/ and stay active on your platform in order to access new or limited supply offerings.

USDT Market Pairing Mechanism

Outside of us, many exchanges default their trade pairings to BTC or ETH. WazirX decided to build its market with USDT as the default pairing for user experience. They effectively alleviated the market by removing the speculation of trades based on fluctuating crypto-to-crypto pairings. 

A USDT-first clone script with a friendly user-facing interface will save users from cumbersome comparisons. It also has the potential to open up the app to more users in the global marketplace.

Why does it matter?

USDT: Provides stability and maturity, meaning the fiat-focused trader can easily understand and engage.

Smart Token Swap via External Pools

WazirX supports token swaps through its integrations with Binance and other liquidity partners. A good clone script should have features to route your token swaps through external liquidity pools or APIs, so trades can be seamless and you do not have to host all liquidity natively.

Why does it matter?

Increased liquidity and increasing the token listings you have available without having to overload your backend.

Multi-Chart Mode for Power Traders

WazirX has a multi-chart view that allows users to open multiple assets or multiple timeframes side-by-side. If you are going after more serious traders or day-traders, your clone should allow toggling between so they can see different chart styles, timing intervals, and asset comparisons simultaneously. 

Why does it matter?

Better trading experience for users who depend on comparative analysis.

Smart Segregation of Markets: INR, BTC, USDT, WRX

WazirX separates its markets into matching categories: INR Market, BTC Market, USDT Market, etc (including their WRX token). This improves usability and makes it easier for users to navigate. Your clone script should establish this layout for making a more user-friendly trading interface. 

Why does it matter?

Categorization allows for filtering and a sense of familiarity and control for users.

STF (Smart Token Fund) Module

Possibly one of WazirX's more understated features utilizing innovation is STF, as it enables professional traders to manage portfolios for other users. The users are now able to invest in these portfolios and see the performance of the trader managing funds transparently. 

Cloning this feature opens so many new opportunities for users to invest collectively, social trading, and utilize influencers. 

Why does it matter?

You will generate revenue from managed portfolios won and increase user trust and community engagement. 

Seamless Integration with Global Platforms 

WazirX also provides a cross-platform trading facilitation with their Binance Bridge, as users can transfer assets instantly from WazirX to Binance (and back!). Your clone script should provide opportunities for similar integrations with other exchanges by incorporating modular API layers. 

Why does it matter?

It will help with accessing liquidity and also create interoperability, which is especially important if you want your platform to scale globally.  

WRX Token Ecosystem for Discounts & Rewards 

To spur increased trading and excitement at WazirX, they take advantage of their own native token, WRX, as a fee discount, staking reward, and access to exclusive launchpads. Adding a native utility token module to your clone will facilitate engagement, incentivize users to trade, and give you an option to create loyalty programs with your users. 

Why does it matter?

Token incentives produce more user activity and give you another tension stream and branding lever.

Conclusion:

Developing a crypto exchange like WazirX with a crypto exchange script involves more than simply having a list of the same features; to provide an exceptional product, your WazirX clone script not only needs the functional features, but valuable performance features too. 

The best way to edge out your competition is to develop your product using trading capabilities that make WazirX unique and powerful. 

The best aspects of submanaging and trading are for a novice, considered quick trades, while power users have seen multi-charting and smart funds. These advanced features led WazirX to become a respected name in India's crypto ecosystem, and providing these similar 'better' features can definitely set you a step ahead in user experience, user engagement, and monetization.

You want to consider scalability, customization, security, and regulation readiness. The crypto space rewards new usability, and your exchange should allow for both.