creating an exchange site | Bitcointalksearch.org

Peter882

hero member

Activity: 543

Merit: 500

Quote from: ranochigo on August 07, 2014, 06:52:45 AM

Quote from: AdamSmith on August 06, 2014, 01:51:27 PM

Competition is fierce among exchanges.

For a new exchange, it will be hard to survive on low commission rate with no volume.

It depends on how reliable are them, how fast they respond to your support ticket, features and security. In order for an exchange to be successful, they must be able to offer all of the above. They can easily beat old exchanges in terms of volume if you offer things better than them.

But it takes a long time and lots of efforts for a new site to make its users feel safe and reliable about the site, especially after the mtgox bankruptcy.

ranochigo

legendary

Activity: 2954

Merit: 4158

Quote from: AdamSmith on August 06, 2014, 01:51:27 PM

Competition is fierce among exchanges.

For a new exchange, it will be hard to survive on low commission rate with no volume.

It depends on how reliable are them, how fast they respond to your support ticket, features and security. In order for an exchange to be successful, they must be able to offer all of the above. They can easily beat old exchanges in terms of volume if you offer things better than them.

lemfuture

hero member

Activity: 686

Merit: 500

learn decentralized exchange system like that AE.
i invested in a newly start up exchange, but it's way too late i doubt i'd get any profits

AdamSmith

full member

Activity: 142

Merit: 100

Competition is fierce among exchanges.

For a new exchange, it will be hard to survive on low commission rate with no volume.

Coinbuddy

hero member

Activity: 896

Merit: 1000

wait for this http://openex.pw/

DeboraMeeks

hero member

Activity: 588

Merit: 500

Quote from: BadBear on August 03, 2014, 11:49:46 PM

If you have to ask, then don't. You either need the skills, or money to pay those with skills.

Everyone has to start soooomewhere.

To o.p. learn the basics and read up and code much of it, then maybe ask around for help inthe service sec.

Bank Of Bitcoin

newbie

Activity: 14

Merit: 0

mosty not about website all about hacker . makesure you have great talent on security .

whitefly

newbie

Activity: 44

Merit: 0

A lot of learning is waiting for you, OP.

Marbit

hero member

Activity: 686

Merit: 500

Quote from: enhu on August 03, 2014, 07:27:27 PM

this isn't a new idea but I'm planing to create a bitcoin exchange site. how can i begin with this plan?

Just gonna throw this out there -- If you're asking this question in the "Beginners & Help" section of a forum... please do not attempt to create a bitcoin exchange. Please.

troleybüs

legendary

Activity: 1424

Merit: 1001

If everybody creates exchange site without knowledge, how can we trust them?

enhu

legendary

Activity: 2478

Merit: 1018

oh god. I admit i don't have much knowledge to harden the site from hackers.

Quote from: daybyter on August 05, 2014, 08:57:41 AM

enhu: what are your skills? Can you design?

Not really. Not enough CSS skills but I do php/bash scripting and some internet marketing skills like social media which I've learned over the years of reading SEO forums.

ranochigo

legendary

Activity: 2954

Merit: 4158

You need reputations and good interface and security to create a successful exchange. No one would trust an exchange that have no reputation around. You would really need to custom built your own front and backend. It isn't easy for any beginners and may be a challenge for some experts. You would need custom features to compete with other exchanges. Your security must also be very good, you would be liable for all lost if your exchange is hacked. Lastly, you need to comply with your local laws. This is a complicated process.

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Quote from: enhu on August 04, 2014, 04:45:07 AM

I've already learned php and html though..I'm thinking maybe there is an existing script for such then all i might just do is edit few lines to it.

Great way to start an exchange. What could possibly go wrong? Good thing that exchanges have no big target on their back and do not need any security experts workign with them!

Rocky X

newbie

Activity: 31

Merit: 0

It's not that easy. Even if you have a lot of skills you need a good team and capital first. Really challenging road for a newbie.

daybyter

legendary

Activity: 965

Merit: 1000

enhu: what are your skills? Can you design?

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: BadBear on August 03, 2014, 11:49:46 PM

If you have to ask, then don't. You either need the skills, or money to pay those with skills.

thats a little sad, but 100% right

oceans

sr. member

Activity: 406

Merit: 250

I wouldn't advise you doing this unless you 100% have thought things through and done enough research. It takes a lot to make a site like this which means a lot of knowledge not just on code but also on bitcoins and everything else. If you need to ask how you would go about starting a site like this then you obviously haver not done enough research to know what you are doing. It's too risky to go head first in to something like this unless you know EXACTLY what you are doing.

Bitsaurus

hero member

Activity: 873

Merit: 1007

Making an exchange is asking for a huge target to be placed on your head. Sure you can earn lots of money if everybody knows who you are and loves your site.... until it's hacked and people fly to your town to have a "meeting" with you.

enhu

legendary

Activity: 2478

Merit: 1018

Okay so I'm a newbie. Grin

Its just that I want to utilize my skill in making a site popular by doing adwords and have been an editor of a cryptocurrency wiki site. if I can add my exchange site to the wiki site I beleive my exchange site will be known.

ALL IN

newbie

Activity: 16

Merit: 0

Quote from: sab4you on August 04, 2014, 03:17:14 PM

How can I create a global banking system? I know how to get a hammer and nails and put together some walls to start making an office.

Basically this is what your asking and if you are asking such a high level question for something that requires so much in-depth knowledge across many different skill sets, it shows your probably not up for the challenge and comprehending the magnitude of your request.

thats still will disturbing of many factor to secure your exchange . as i say . security issues its more important than anything ..

Topic: creating an exchange site (Read 1962 times)