Topic: Can I be an exchanger and is it allowed? (Read 244 times)

Since you are a newbie, who isn't known here, and currently have 0 trust and distrust, you may have  to be the first one to do the transaction before the user that has a name here. Or you can use escrow service.
I wish you good luck. And I hope you have no plans to scam anyone here.

This is a good idea, I only hope you have carefully thought about it and have the needed capital to achieve it. Mind you, if you want to be an exchanger, you should know about the requirement and need on your part and the part of your customers as this offer is not really difficult to take elsewhere by your customers if you could not beat the present competition. And for your gain to be measurable, you might want to add fees while you are engaging in exchanges from coin to coin, which I don't think would pay you in the end.

The only aspect you may make gains is from crypto to your local currency, which might be targeted only toward the customers that are spending your local currency.

It wouldn't be an easy one but it's going to worth it and I promise you that.
One other thing you have to do is possibly going to register on some exchanges as a p2p agent and possibly do so for more than one exchanges and always be ready to press your phone at all times.
I just hope you also know that Bitcoin is very volatile and very risky and for whatever seems good, also has some negativity too.
You can be an exchanger over here and it is very much welcome because there are lots of other businesses been done and promoted over here.
Bitcointalk forum is a community and not just a forum .

If you have a little capital it would be better to sell P2P based exchange, since Decentralized Exchange and Centralized Exchange need a huge of money to pay employee for their website especially the security. Either you can sell here or become P2P on an CeX.

Binance and Bybit currently Provide P2P exchange or you can GO to localbitcoin and bestchange

Yes, the idea is new and the cryptocurrency community always likes innovative concepts than projects imitating previous project concepts is the reason why I believe it to be a good idea.
OP said, " I have a desire to start a business". Technically, it's his long-time dream, not a business story he can come up with today or days ago.
Not speaking for the OP but these are the impression I had when I read the OP's post.

OP, never said he's a beginner in the cryptocurrency space. However, he's yet to know how things work on this forum and the business advertisement that is allowed.

exchange is a business that provides services, which means business people must maintain a reputation and good relations with users/consumers. if something goes wrong -the trust that has been tried built will collapse quickly, then building an exchange business is not an easy matter.


the authorities will definitely monitor an exchange platform closely, especially if the exchange is used as a trading place for criminals or money laundering, then the OP must be able to choose wisely, whether he wants to build a small exchange business with a P2P concept (like some of the members of this forum did) or a large exchange like DEX/CEX.

the idea is new and I wonder how the OP came up with such a good business story...

OP, if you are really a beginner in all of this and you have to ask here about the legality of the exchanger business, I'm afraid it's not for you. maybe you should think about what your abilities and knowledge are, and based on that you should make investments.
you will certainly be on very slippery ice, but it is a great advantage if you know how to slide.

It will be quite hard for you to get the trust and reputation in this forum moreover you are still newbies. It is normal for everyone here to use a trusted exchanger, I mean, P2P for selling and buying any coin here. It is normal to be more careful about anything because right now there are so many scammers that are also providing this kind of service.

But, I really appreciate your effort here because you are brave enough to say your plan here. Actually, it is possible to do that, promoting yourself as an exchange (P2P) in this forum and also on social media. But, once more, this will not be easy. You need to start several transactions with several people to make you trust enough. Or alternatively, you may need to build your account first right here, so, you may become more trusted again by having a higher rank. Sometimes, a plan needs more effort to realize it. But, if you are really willing to do it, you may face the easiness of every effort by struggling more.

I also have known some people who are doing this. Probably, you can start by offering to your friend first on your social media. So, you can gain the trust of your customers. I have some friends on social media who are also being exchangers and they gain the trust for a longer time, gaining from one to more customers, firstly, they got a reputation from their friends as customers. But, be careful with the new customers, and ensure that you are also not scammed by the new users. And once more, never disappoint customers or cheat to keep your reputation good.

The idea is good but involved a lot of money and if the exchange you're planning to create is no KYC/P2P.  It will be easy for you to have a good reputation if create an expensive site, have good customer support, a fast deposit/withdrawal feature, a marketable Ann thread, and have a signature campaign advertisement on this forum.
Once you have a good reputation on this and also do some marketing outside the forum it is easy for the exchange to get the needed trust, traffic, and reputation.

You can be just anything you want on the Internet. Perhaps in promotion, you might need some bulk money to do this as you would be employing the services of others aside yourself but in having a successful service and to gain trust, you need some insurance on your part so the people who wishes to use your services would be sure there money is secured.
The cryptocurrency is a field that is built largely on trust and trust is just something you don't give easily, especially to some one or platform not known to you locally or certified by a trusted organisation.
If it is an exchange you really want to start, it would require some funding but, if it is a vendor you hope to be, you could start by offering services based on your available capital.

Allowed with your planning become an exchanger for selling gas fees transaction trough ETH, BNB, Matic or other network need fees when selling coin, but first you have build with your reputation and make famous about you are trusted gas fees seller. I have little suggestion if you want active become reseller with gas fees need faster respond and always on time when your costumer need your service.

My country have many people become reseller for fees transaction and the have accepted all stable coin buying or selling, but their reputation have build for long time and we don't scare when making transaction without use escrowed.

It is allowed onbthe forum provided that you adhere to the instructions guiding it, alot of people come on board to advertise their services but there's one thing that you will need to consider first which is trust, if you stay onnthe forum for somewhile with a well maintained reputation from the services you provided then people will trust you, but you need to first trust yourself and what you can deliver at first.

Doing that is not a problems in any way but what would count most is trust, it's very hard over here for a newbies start such kind of business don't get it twisted you are permitted to do whatever you want but my concern over here is reputation. There are lots of risk involved while doing such business maybe do I say you wanna run p2p services or something similar because if you think of building centralized exchanger it would definitely requires a lot possible your country or locality where you based might give you tough time to operate such business over there.

Yes of course its allowed. But building it up is not as easy as it says. Exchanger need to earn or muster up a lot of reputations from users and its not gonna work overnight or even a stint period of time. There are plenty who plans this already and got failed due to lack of transparency and even community support. Might focus first on building up marketing and community affiliated matters to promote it.

There is also a security issue in the sense that you may get hold of coins related to scams, thefts, hacks, and if any authorities are tracking those coins you run the risk of getting involved in serious issues.
I still remember from years ago in my local board there was a member who exchanged like $150 worth of BTC with another user on localbitcoins and the other one then  and the other then turned out to be an international arms dealer.
Police called him and he had to explain of which nature was his relationship with that criminal.

building a reputation is not easy and cannot be done instantly, it takes a process to gain the trust of customers. When someone wants to become an Exchanger, they need good service to customers and explain what they will provide so that customers can exchange their assets safely without any problems.
When a customer is satisfied with the service provided, it will be a plus and will affect the next customer. This is an effort made to build a business with customer satisfaction being prioritized.

if you go to this and this section then there you will see some members with a good reputation in this forum doing personal business well in forum, without any restrictions. then of course you can run that business too, what you need to do is learn more deeply about the exchange business that you are going to do so that you don't lose money in the future.


to be honest, a good reputation cannot be built overnight, it takes years to earn it, there are even many exchanges that have closed even though they have been running for years because they don't have regular customers and also can't attract more customers inward due to the lack of customer trust in them. my advice is that you have to slowly show customers that you are a person who can be trusted, don't be pushy and want something instant.

Building a reputation on this forum starts by staying longer, and doing small business first. If you just registered and make one or two posts, it will be difficult for others to trust you since nobody knows who you are, and there is no trade history either. Participate in forum discussions, make valuable posts for others, be helpful, etc.

Most scammers don't want to use escrow for any transaction, so you might want to use them for a start regardless of how much your deal is worth. There are many escrows with years of reputation here, so there risk is lower for both your client and yourself as mentioned above. Of course, you'll still get a negative reputation even if you use escrow if the deal/business itself is scammy.

If you're not going for P2P and instead build a website/platform where the user needs to trust you without any safety net, it would be incredibly difficult to get customers IMO. Unless you post more details about yourself or your business, nobody will use it since there are other reputable alternatives. You also need to be unique, if what you can offer is only a cheaper price, you'll probably struggle a lot in competing with other businesses. At the end of the day, you'll need to be flexible and react according to the situation, so good luck.

Well I understand what you mean but I think the language is wrong, you are probably talking about being a crypto-currency vendor.

Well for example just on my contact alone there are lots of Crypto-currency vendors and I think it’s so with many others, it’s a good thing but it fast becoming over populated, but if you are genuine and have good consumer base then it’s really not difficult.

You are permitted, but keep in mind the risks associated with this business if you plan to do p2p here. It's also a matter of trust. I am relatively certain of that people will not trust you at first, and you will need to use an escrow service. However, if you can create an instant exchange, you may do well. Even so, in both cases, you must gain the users' trust. Another question is why people will use you instead of Binance or another exchange. There should be a convincing reason for someone to use your service.