BitCoin Exchange - page 2. | Bitcointalksearch.org

pinkflower

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Quote from: The_Dark_Knight on March 04, 2017, 10:27:37 PM

Quote from: pinkflower on March 04, 2017, 10:19:27 AM

Quote from: eternalgloom on March 03, 2017, 08:38:53 AM

Quote from: pinkflower on March 03, 2017, 03:43:53 AM

Quote from: Bibite on March 02, 2017, 09:24:48 AM

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.

It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.

Before you comment make sure you know the meaning of counterintuitive and what I was trying to say in my post.

There is no need for a local BTC exchange if you want person to person transfers. You can use localbitcoins.com for that. Post your buy or sell order and specify that you want to pay or get paid in person. Its that simple.

Mirconome

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Quote from: The_Dark_Knight on March 04, 2017, 10:27:37 PM

Quote from: pinkflower on March 04, 2017, 10:19:27 AM

Quote from: eternalgloom on March 03, 2017, 08:38:53 AM

Quote from: pinkflower on March 03, 2017, 03:43:53 AM

Quote from: Bibite on March 02, 2017, 09:24:48 AM

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.

It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.

We dream about the mass use bitcoin, but as soon as more people start to use it, and these people tend to be not very educated in cryptocurrency then necessarily appear massive invasion of scams that will rob these people.

The_Dark_Knight

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Activity: 840

Merit: 502

Quote from: pinkflower on March 04, 2017, 10:19:27 AM

Quote from: eternalgloom on March 03, 2017, 08:38:53 AM

Quote from: pinkflower on March 03, 2017, 03:43:53 AM

Quote from: Bibite on March 02, 2017, 09:24:48 AM

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.

It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.

pinkflower

sr. member

Activity: 868

Merit: 259

Quote from: eternalgloom on March 03, 2017, 08:38:53 AM

Quote from: pinkflower on March 03, 2017, 03:43:53 AM

Quote from: Bibite on March 02, 2017, 09:24:48 AM

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.

The_Dark_Knight

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Activity: 840

Merit: 502

Quote from: angaper on March 01, 2017, 05:44:44 PM

Quote from: shamzblueworld on March 01, 2017, 04:07:36 AM

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

I use to sell some coins to my friends but I don't use to charge any fee for these exchanges. However I also know some other friends that do use to charge some commissions (around 10% of that transaction) and it is really profitable for them, even some friends have been able to make a living from this business because of the great amounts and number of transactions that they use to carry out.

If they could get away with it good for them, but that is just too much especially since they were not offering anything besides just exchanging you r money, you can do thin in the forum and the rates are nowhere near as bad.

Rahar02

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Activity: 910

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Quote from: chaser15 on March 03, 2017, 12:41:49 PM

Quote from: pinkflower on March 03, 2017, 03:43:53 AM

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

Looks like you don't know the benefits and advantages of having a local exchange. You even called it as having a limits which is really not like that.

Please remember that not all bitcoin exchanges supports every country, more especially when it comes to deposits and converting money into bitcoin via withdrawal. I will assume you are in a country where generally supported by those popular bitcoin exchanges so you can say that thing. But even your country is supported, it's surprising that those exchanges don't even required their to use KYC or something like that and you can withdraw your bitcoin as a money easily?

Local exchange as OP mentioned was focused on direct transaction (buy and sell) bitcoin, maybe he want to give it a shot and consider online exchange require a lot of resources to start. Yes, every country need some local exchanges to facilitate and advertise bitcoin to local citizens, but an exchange cannot develop well without online support.

chaser15

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Quote from: pinkflower on March 03, 2017, 03:43:53 AM

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

Looks like you don't know the benefits and advantages of having a local exchange. You even called it as having a limits which is really not like that.

Please remember that not all bitcoin exchanges supports every country, more especially when it comes to deposits and converting money into bitcoin via withdrawal. I will assume you are in a country where generally supported by those popular bitcoin exchanges so you can say that thing. But even your country is supported, it's surprising that those exchanges don't even required their to use KYC or something like that and you can withdraw your bitcoin as a money easily?

Dudeperfect

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Activity: 1190

Merit: 534

Quote from: shamzblueworld on March 01, 2017, 04:07:36 AM

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

I have not tried direct exchange business but affiliate program of popular exchanges is paying me little amount with some interval of time so it's not a bad idea to go with affiliate programs first and then to build an own exchange. Coping up with regulations would be the toughest part in my opinion.

nizamcc

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Activity: 1218

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It cannot be called profitable, but is rather a good way of spreading the word out to people who don't know about it.
I don't know about exchanges, but I have seen places here in India where people have opened Consultancies about Bitcoins and they are making others aware about this.

eternalgloom

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Quote from: pinkflower on March 03, 2017, 03:43:53 AM

Quote from: Bibite on March 02, 2017, 09:24:48 AM

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

hisuka

sr. member

Activity: 882

Merit: 251

Bitcoin exchange can be really a good profitable business. At first, exchange need to be popular so you can attract more traders to trade in your exchange. And, the security of anyone who will invest or trade in your exchange. This can be good as long you will attract more people to use the exchange so that this can be successful.

pinkflower

sr. member

Activity: 868

Merit: 259

Quote from: Bibite on March 02, 2017, 09:24:48 AM

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

shamzblueworld

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Quote from: webtricks on March 02, 2017, 11:53:36 AM

Quote from: shamzblueworld on March 01, 2017, 04:07:36 AM

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

The present bitcoin users will be atmost 100 millions. When we compare to total world population, user is one among 7500 people. By opening local exchange, it may not bring you profits as expected due to less targetted customers. Online business is always better for such things.

I agree. But if you market your business well, this can also lead to more people coming into the bitcoin world, though it will be an exchange point, but if one can sell it, I feel it can be very profitable. Right?

The_Dark_Knight

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Activity: 840

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Quote from: Kasabus on March 01, 2017, 09:55:29 AM

Quote from: shamzblueworld on March 01, 2017, 04:07:36 AM

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

In general it's profitable as you only get fees on transactions. Your aim is to invite more people to sign up in your site and exchange their bitcoins and that is where the expense will come. People will not use your exchange site if your site is not well designed and safe, bear in mind that the competition is there and if you want to succeed, you also need to compete or even outperform your competitors.

Unless he can offer something really good to customers creating a new exchange right now does not seem like the best idea since most of us already have an exchange we like using so unless the exchange he creates is that much better then not a lot of people will use it.

webtricks

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Quote from: shamzblueworld on March 01, 2017, 04:07:36 AM

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

The present bitcoin users will be atmost 100 millions. When we compare to total world population, user is one among 7500 people. By opening local exchange, it may not bring you profits as expected due to less targetted customers. Online business is always better for such things.

Bibite

full member

Activity: 187

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Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

shamzblueworld

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Activity: 714

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Quote from: OmegaStarScream on March 01, 2017, 04:19:15 AM

Exchanges makes profit from taking fees on transactions(deposit/withdrawal) and while exchanging from currency to another. I don't really understand how It's not going to be online though? If you mean something like LocalBitcoins and decentralized too then you won't be able to charge any fees in that case and still pay for the hosting of the website etc...

No I mean in the sense that it would be a local exchange place, for example in my city. Where people can go and buy bitcoin with money or sell bitcoin. And the profits can be made with the rate at which we exchange for buying and selling.
What do you think about that? Is that good idea for a business?

xuan87

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I think it will be quite profitable, there are so many people need local exchanger in their own local place, but it is depend on how many bitcoin user and how good is your reputation in that area, if you handle your exchanger correctly it will be a profitable business, but when you build your reputation you need to spend more time to advertise you exchanger

iv4n

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Before

Quote from: maydna on March 02, 2017, 04:07:23 AM

Quote from: shamzblueworld on March 01, 2017, 04:07:36 AM

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

if we talking about local exchange to buy and sell bitcoin, it profitable as this what i know from my friend doing in daily. my friend buy and sell bitcoin into many people, not just from people near him but also for another cities in my country. he said that the profit is enough to fill his needs in daily and he can also saving the money into his bank account. i think this is not just about buy and sell bitcoin but its about helping people and makes them easy when they want to buy and sell their bitcoin.

I`m selling bitcoins to a guy who have offline exchange, he is working with bitcoins and litecoins for 5 % fee. I sold him a lot, and he is advertising on several forums and online marketplaces in my country, also he was recommended to me from some members here on forum. He have a lot of work, and I think he is making a good profit each day. He is working for years, and there is money in this, just you need to be patient and to make your reputation, for that you need time.

maydna

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Quote from: shamzblueworld on March 01, 2017, 04:07:36 AM

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

if we talking about local exchange to buy and sell bitcoin, it profitable as this what i know from my friend doing in daily. my friend buy and sell bitcoin into many people, not just from people near him but also for another cities in my country. he said that the profit is enough to fill his needs in daily and he can also saving the money into his bank account. i think this is not just about buy and sell bitcoin but its about helping people and makes them easy when they want to buy and sell their bitcoin.

Topic: BitCoin Exchange - page 2. (Read 3222 times)