Today, I want to show you how to launch your own cryptocurrency exchange with zero coding. Alright, because you know let's just face it. Cryptocurrency exchanges are hot right now it seems like every time I look around know.
A new one is popping up and some people might say. Oh that means there's just too much competition as the markets oversaturated, but actually it's, the exact opposite. It's, a good thing, because that means there's, a huge carrot being dangled in front of them and that's.
Why all these exchanges are popping up. So today I'm gonna show you how to create one and it's. Only gonna take a few minutes. So you know you can do this too. You know, launch your own cryptocurrency and sell it with an exchange or just operate your own exchange and sit back and collect fees.
So before we get into that, if you're new around here, hey I'm Gregory and on this channel I turn you into a blockchain master. So if that's, something that you're interested in then smash the like button down below for the YouTube algorithm and subscribe to this channel.
And if you want to learn how to become a blockchain master step-by-step, then I can show you how to do that over at Dappy bursary com forward, slash boot camp. So here's. A quick demo of the cryptocurrency exchange that I'm gonna show you how to set up alright.
So this supports real-world, cryptocurrencies out-of-the-box and you can see the different pairs here and I can go ahead and create an order in the porter book. Just like this okay, so I'm gonna say a limit order and I'm gonna buy the 0x cryptocurrency we'll just buy, I'll, say one for 0.
01 eat. There click buy, and this will pop up meta mask. I'll click confirm and one more and there we go. I've just created an order in the order book. So how does this exchange work? Well, if you look at this little logo down here, this says it's powered by zero X, so it uses 0 X, launch kit, which is a way that you can start launching your own cryptocurrency exchange.
You know just a matter of minutes that's, exactly what imma show you how to do in this video. So if you're, not familiar with 0 X, is a decentralized cryptocurrency exchange protocol. So it's different from other cryptocurrency exchanges, like coin base or by Nance, for example, because the exchange part of this app runs on the blockchain itself.
So, whenever you trade tokens inside this exchange, it's, actually powered by smart contracts and that's, how the tokens are traded. So this is called non-custodial, which basically means that you control your money, the entire time the change doesn't and that's.
What's really great about this project? So the zero acts protocol runs on top of aetherium, and that means that virtually any etherium based asset can be supported by this exchange. It's, pretty amazing, and there's, so many real-world aetherium tokens right now and even more popping up.
It seems like by the day because D Phi is exploding like crazy and so like I said there are lots of etherion based tokens supported out of the box here, but you can definitely add any cryptocurrency. You want to this list.
Let's say you even create your own cryptocurrency and you want to start your own exchange to sell it. Well, you can do that with 0x launch kit. So now let's. Go ahead and set this up. The first thing that you need to do is install the meta mask extension for google chrome.
So I guess that also means that you need to have google chrome installed, but it's. Pretty easy. Just go to the Google Chrome Web, Store, search for meta, mask and add this extension to your browser right here.
So why you need this well. Meta mask is in a theory and wallet that allows you to used apps or blockchain based applications in your browser, and you need this wallet with some cryptocurrency in order to use it and also to use.
You know this exchange that mâche had a set up, because again, this is a blockchain based exchange. It's, non-custodial it's, powered by smart contracts, and you need meta masks installed in order to be able to use it next, you need some aetherium cryptocurrency in your wallet, so I'm gonna show you how To set this up on a test network today, okay, because I definitely want to avoid any legal issues, as always, you know seek legal counsel before you run anything like this on the main net right, I'm, not telling you to do that, but I'm gonna show you how to do it on a test network, so go ahead and select the kovin test network and meta mask right here and then go ahead and copy your address here, because I'm going to show You how to get some fake cryptocurrency for this Cove on test Network, alright, so head on over to Fossett Cove on network and then click log in with github course.
You'll need a github account to do this, but go ahead and paste in your aetherium address. There. Click semi k, eath and you'll, have some test cryptocurrency next head on over to the github repository for the 0x project, launch kit? Okay.
So this is github.com ford, slash, zero X project, ford, slash zero x, launch kit; ok, so this is where all the code for the crypto currency exchange lives. All right. I'm gonna show you to set this up now.
This doesn't write, require any coding to set it up. Alright quire some code to customize it, but we do need to run some commands from our terminal in order to set this thing up on a computer okay. So if you're, not a developer like don't worry, you can probably still follow this tutorial and set this up, and you can just learn enough to accomplish this.
One task you don't need some like crazy, technical understanding. In order to do this, you can basically do exactly what I'm. Doing or maybe you are developer. You're, not super comfortable with the terminal.
Yet just follow me step by step and we'll get this working. So now let's, go ahead and setup the prerequisites for running this exchange. There are a few different things you need to install on your computer before you do this, so the first one is no js'like you can see if you have node already installed by opening the terminal application on a computer and just typing node V, all right, so I do, but if you don't, you can just click on this link and download node and set it up.
Next is yarn which is really similar to node. So if you don't have that installed. You can just click this link and it'll. Take you to the yarn installer as well. It's. Pretty easy! Next is docker. You need this install because the exchange itself runs inside of a docker container and don '
T worry. If you don't understand everything about docker, that's. Ok, you don't need a deep understanding of docker in order to follow this. Video just know that that's, what it uses to run the app itself good and finally, is npx alright, which is pretty easy to install as well.
Just npm install G in px once you have, you know NPM installed in a computer. Ok, because NPM comes with nodejs alright, once you've done all that it's time to go ahead and put all this code on your computer.
So that you can start the exchange, go ahead and copy this URL here from your url bar and go to your terminal and type in git clone then paste in the URL here. Alright now go ahead and enter into that newly created directory.
Like this say, CD 0 X launch kit alright, and we're ready to rock and roll so go ahead and copy this command here from the repo just click copy and then paste, and there we go so now you should see some prompts.
I'm gonna select ERC 20 and then this is really important. I'm gonna select The Cove on test Network because I don't want this run on main net right now. Alright, you want to set it up on main later. You can walk through this with a different setup, but for now I'm gonna test Network only and again always consult your legal counsel before running a crypto currency exchange in the main net.
So Kevon and then I'm gonna paste in an inferior URL here. So what is in fewer up? Well, it is an aetherium node as a service. So what does that even mean well in order to connect your app to the blockchain? You have to talk to an ethereal node, because that's, how a blockchain works, the peer-to-peer network of nodes.
So if you want to use the blockchain, you need access to an aetherium node and that's. What a fear it does! It gives you in a theory, room node that you can just get a URL to so go ahead and sign up for a figure.
If you haven't done that already go ahead and create an app and you should get a URL that you can paste inside of here. So I've gone ahead and pasted my URL in here again. You should use the cove on version, so cove on euro ford, slash p3.
Then you ' Ll, see your api key there. All right click enter. So next 0x requires a real layer in order to run, and I'm. Just gonna use a default real layer here, but I'll, just paste in exactly what they have all right: click back and then the next is the backend web socket okay.
So this is a little tricky. If you're running this in Google, Chrome chrome might block your WebSocket connection. So what I'm doing here is actually specifying my local IP address. This is not my public IP address.
Just my local IP address and that helps me get around that problem, so you can find your local IP address like this. Just your IP config space get IFA DDR and then space, then en0. You can just copy this command from my screen here.
Click enter and that will show you what your local IP address is. Okay, so I'm gonna. Do that like this? Basically just this WS 4 / 4 / put my IP address in 3000 and then that's. Gon na be my WebSocket connection good.
So now I'm gonna add in the few recipients, so I'll use. My meta mask account as the fee account. So just go copy this right here and then I'll. Go to here paste it in and then I'll, just clear the fees for now we'll, go with the dark theme and then we'll just use the default configuration for the front-end server and once you enter All that configuration in this will set up it'll, probably take a few minutes.
So I'm gonna go ahead and pause here and come back when it's finished all right, so it's. Finished and you'll know that yours is done. Whenever you see the front end setup completed. Sorry, it's kind of gotten buried in my terminal here.
But whenever it's finished go ahead and navigate to localhost 3001. That's, the port, that the app runs on okay, the front-end app. So here we go boom a brand new crypto currency exchange. Alright, so let's, go ahead and try this thing out make sure it's, set up properly again go to your meta, mask wallet, make sure you have some test ether in there and you know, select the cove on test network And we're gonna try to create at work okay, so I'm gonna just use a default token pair here.
This is 0 X to Wiese alright. So let me explain what that means. Basically, 0 X is in ERC 20 token it's, a crypto currency that lives on the etherium blockchains powered by smart contracts. It's. Actually, the you know token, that's associated with the 0x project.
All right, so you know the first time you create an order. It ' Ll walk you through several steps to make sure that works, but let's just go to my wallet really quickly and get a better understanding of how this work.
Here you can see all the tokens that are my wallet right now. I just have this. You know Ethan here, so how trading works with 0x? Is you always trade ERC 20 tokens to other ERC 20 tokens? So what we're gonna do is take the eath that's in my wallet at least some of it and convert it to wiith alright.
So what is that? Well, we fizz rapt ether, so it basically takes aetherium ether. The native cryptocurrency, the etherium blockchain, and it turns it into an ER C, 20 token. Alright, so you can convert it to withs.
Just like this, let's. Just do maybe, like you know, I don't, know some some amount like about 10 eath and click update balance and then you ' Ll, see a meta mask confirmation, pop-up click confirm and boom there we go.
We just converted it to efj so refresh the page here and I should see my balance update all right boom. There we go so I have converted some of this to weave and I'll also go ahead and unlock it. So I'll click.
This right here she admit, amass confirmation, pop-up as well click confirm and boom. My wiith is also unlocked, so I am ready to trade, which basically means I can purchase any of these tokens with eath.
Now because I've converted my eath to we -- the and i've, also unlocked it. Alright, so the first time you do this, it'll automatically go through those steps whenever you create a limit order, but I just want to show you how that worked behind the scenes.
Okay and I'll show you how to basically create an order right now, so we can see that one has already popped up in the order book here that's, pretty cool, so let's. Click sell, alright, actually buy to a limit order, and I'm gonna say I want let's.
Just say this is to easy math here and say one zero X and we'll do 0.01. We -- the alright now. Is that me sure what price that goes out to right now? I'm, just gonna use that for demo purposes right, so click buy zero X and it'll.
Ask you to confirm the signature. So what does this mean? Well, zero X uses an off chain order book, alright. So basically that means you sign in order and then it stores it on a server. Basically - and you might say, oh, that's, not decentralized, but that's.
Actually, okay, because it's, signing your intent to trade, which is decentralized and it's. Part of what makes this non-custodial okay. So you'll, see your server process is actually running back here and that's, where this order is gonna get stored.
Whenever you sign it, click sign and then boom there we go. Alright, the orders been placed - and you can see it here in the order book - that's. How easy it is to set up your own cryptocurrency exchange with basically no coding alright.
This is pretty incredible, so you know, maybe you want to take this thing in the next step and you want to customize this add your own tokens. You know put it on the main net and start using this thing for real, but I can show you all the skills you need in order to do that right.
So maybe you're, not a developer yet, and you want to learn the types of skills that you would need to do that then that's exactly what this channels, for you know, I can show you how to become a block To developer step by step and honestly, you could just like learn enough to accomplish this one task, and maybe that would whet your appetites do a whole lot more because there's, so many exciting things you can do with blockchain technology.
Right like this, I mean you can just launch a cryptocurrency exchange without anybody's, permission with really hardly any coding at all. So if you want to learn more about blockchain, then there's, a few ways to get started.
You know you can go to my YouTube home page where you can see. You know lots of free courses there. They, like you to me courses, but they're just totally free and if you like those tutorials - and you want to take the next step - or maybe you want to take a massive shortcut entirely, then I can show you how to become a blockchain Developer, step by step from start to finish inside the blockchain boot camp and inside of there, I actually show you how to build a real world, cryptocurrency exchange from scratch with smart contracts, and you can customize it to do whatever you want to.
You know to sell your own real world cryptocurrency handed over to adapt University comport, slash, bootcamp, to get started today. Alright and last but not least, if you like this video, then smash the like button down below and subscribe to this channel and that's pretty much all I got so until next time, thanks.