How easy is it to start your own crypto exchange? - page 2.

Casdinyard

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Quote from: Abiky on January 03, 2020, 02:12:33 PM

Maybe creating a Peer-to-Peer site where users can trade crypto in person for Fiat, would be the easiest path to go? Isn't it?

Easy said than done.
Even this is the easiest thing to do and to avoid AML, you need to establish your platform first in the market. Like no one will have a P2P on an amateur site that doesn't have enough clients to use it.

You still be needing developer to optimize your site and of course, a real time customer support that can be easy to reach out when problem persist.

shoreno

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Quote from: Dickiy on January 03, 2020, 09:39:29 PM

Quote from: fortunecrypto on January 03, 2020, 08:43:31 PM

Quote from: Abiky on January 03, 2020, 02:12:33 PM

Aside from complying with regulations such as KYC/AML, I've started to wonder how easy it is to create my own crypto exchange?

In the case of a decentralized exchange based on smart contracts, anyone with programming skills can launch their own DEX for the world. But the real issue is to provide support to customers, and comply with every single regulation imposed by worldwide governments. At a certain point, starting our own cryptocurrency exchange might not be an easy task to do. Launching a centralized exchange instead of a decentralized one might be even more difficult for the average entrepreneur, in my own opinion.

So I'm wondering what's the easiest way to launch a cryptocurrency exchange? Does taking the path of decentralization, help you avoid complying with certain regulations? Or is everything the same with a centralized exchange? Maybe creating a Peer-to-Peer site where users can trade crypto in person for Fiat, would be the easiest path to go? Isn't it?

Any recommendations or suggestions will be highly appreciated. Thanks in advance.

Before launching one you need a background on other projects that deals with transactions and security, because you will full of it, remember it's not only internal issue that you are going to face, but you are also facing issues, on hackers trying to hack and bring down and compromised your exchange, if you have the funds and you can get the best team then you are good to go.

A good team is needed for an exchange because it is not only for security from hackers but requires a creative team of designs and unique features, so as to make the exchange look smooth and comfortable when trading

hell yeah , two or more people is better than one but if you think you have the talent to do multi task then why not ? you can be the mastermind of your own . that way you can save alot of fee and you can earn more profit . if your skills are mainly online like programming for example , you can easily learn other online skills related to it . the only important for all of them is the budget or the capital because if your exchange got popular , big traders such as whales will enter it

Dickiy

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Quote from: fortunecrypto on January 03, 2020, 08:43:31 PM

Quote from: Abiky on January 03, 2020, 02:12:33 PM

Aside from complying with regulations such as KYC/AML, I've started to wonder how easy it is to create my own crypto exchange?

In the case of a decentralized exchange based on smart contracts, anyone with programming skills can launch their own DEX for the world. But the real issue is to provide support to customers, and comply with every single regulation imposed by worldwide governments. At a certain point, starting our own cryptocurrency exchange might not be an easy task to do. Launching a centralized exchange instead of a decentralized one might be even more difficult for the average entrepreneur, in my own opinion.

So I'm wondering what's the easiest way to launch a cryptocurrency exchange? Does taking the path of decentralization, help you avoid complying with certain regulations? Or is everything the same with a centralized exchange? Maybe creating a Peer-to-Peer site where users can trade crypto in person for Fiat, would be the easiest path to go? Isn't it?

Any recommendations or suggestions will be highly appreciated. Thanks in advance.

Before launching one you need a background on other projects that deals with transactions and security, because you will full of it, remember it's not only internal issue that you are going to face, but you are also facing issues, on hackers trying to hack and bring down and compromised your exchange, if you have the funds and you can get the best team then you are good to go.

A good team is needed for an exchange because it is not only for security from hackers but requires a creative team of designs and unique features, so as to make the exchange look smooth and comfortable when trading

fortunecrypto

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Quote from: Abiky on January 03, 2020, 02:12:33 PM

Aside from complying with regulations such as KYC/AML, I've started to wonder how easy it is to create my own crypto exchange?

In the case of a decentralized exchange based on smart contracts, anyone with programming skills can launch their own DEX for the world. But the real issue is to provide support to customers, and comply with every single regulation imposed by worldwide governments. At a certain point, starting our own cryptocurrency exchange might not be an easy task to do. Launching a centralized exchange instead of a decentralized one might be even more difficult for the average entrepreneur, in my own opinion.

So I'm wondering what's the easiest way to launch a cryptocurrency exchange? Does taking the path of decentralization, help you avoid complying with certain regulations? Or is everything the same with a centralized exchange? Maybe creating a Peer-to-Peer site where users can trade crypto in person for Fiat, would be the easiest path to go? Isn't it?

Any recommendations or suggestions will be highly appreciated. Thanks in advance.

Before launching one you need a background on other projects that deals with transactions and security, because you will full of it, remember it's not only internal issue that you are going to face, but you are also facing issues, on hackers trying to hack and bring down and compromised your exchange, if you have the funds and you can get the best team then you are good to go.

Dickiy

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decentralization is certainly required and also transparent, certain regulations do not matter it is very good because good exchanges issue regulations for the security of account holders themselves not for prize seekers and from existing exchanges you should have references to be better than them

shinratensei_

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Quote from: Abiky on January 03, 2020, 02:12:33 PM

So I'm wondering what's the easiest way to launch a cryptocurrency exchange?

Just like what that already used by common exchange site.

Quote from: Abiky on January 03, 2020, 02:12:33 PM

Does taking the path of decentralization, help you avoid complying with certain regulations?

it doesn't. The decentralization will not help you to avoid to comply with a certain regulation. Idex has already proven it.

Quote from: Abiky on January 03, 2020, 02:12:33 PM

Or is everything the same with a centralized exchange?

When you are wanna getting a huge demand and everything must adopt from the centralized exchange site.

Quote from: Abiky on January 03, 2020, 02:12:33 PM

Maybe creating a Peer-to-Peer site where users can trade crypto in person for Fiat, would be the easiest path to go? Isn't it?

It's no different from what we have called decentralized exchange site. have you been thinking about the regulation if you wanna make fiat available as your pair?

Ken_terrance

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Making Smart Money Work

There are few things to consider if you want to build a very good exchange, first is good team, better funds and new idea, i'd say building exchange is the hardest thing to do in crypto space this is why it's not a right choice for those who have zero knowledge about exchanges

Crypto5060

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Theagriverse.io

Running an exchange isn't as advice as you might think. Take a cue from the numerous exchanges that have shut down due to one issue or another. It requires funding which I don't think you have, a developer team since you can do it all alone, and even partnerships.

Yudhisthir

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It could be quite easy to start a crypto exchange. You could buy a ready made script and set some APIs. The trouble is on running the exchange.
Even if you get users, your exchange would be a target for hackers and abusers. You would need an active team to counter any security threats and keep the site running.
With so much exchanges on rise, you need to have something unique to succeed.

Starfranko

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If it is gonna be an exchange that makes sense then I don't think it will be an easy but to crack. Good exchanges don't come cheap and I don't think everybody dhoijd aspire to open exchanges

stephanirain

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Quote from: VDraci on January 03, 2020, 02:25:25 PM

Do not advice people to do this, their first aims will be money making, leave crypto exchanges to professionals, running an exchange is taking a whole lots of responsibility, users funds is on the exchange owner's neck if any thing how wrong, this is not erc20 token where anyone can just build with few clicks

Indeed, it is not something you can do in one sitting with just your computer alone. An exchange is not like the ERC20 tokens nor mining that can easily learned if you have the right tools. It's a whole business and requires a lot of knowledge, guts and effort.

Starfranko

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Good exchanges are capital intensive . So going into such venture is a big deal for me. I am not thinking about it.

samcrypto

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Thinking about the system of the exchange, for me its not easy to create exchange because it requires a good system and a huge funds for the capital. If you really want to create your own exchange then you have to ask your friend to work with you and be a good team. Exchanges is not about buying and selling, it requires a good service so people will use it.

Mianae

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Aside programming the exchange, hosting it to constantly be online is not as easy as we think. A lot of technical activities goes on at the backend to secure users funds and information to ensure no hack occurs on the exchange. Exchange owners goes through a great deal to ensure the exchange is what it's supposed to be.

CryptoVzla

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for seriouse project to build crypto exchange is very high cost, and the exchange always need to be check if your exchange contain a bug or not, also need to hire someone who could care the server without problem...
Graphic designer is most important to attract people to your exchange with nice graphic, i can assumed to build good exchange need atlease xx hundred thousand dollar

Ezravdb

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Trphy.io

I did not think too far to launch an exchange on their own. Some points that I must convey if friends want to hear.
first you want to launch an exchange of course you have to build a community like other projects do.
secondly, I think your suggestion will make someone interested in launching their own exchange just to get money or in negative matters we might not want, but this way is quite easy to raise money..
Even today many scam exchanges have been born this year. let's forget about this and focus on trading because you can make a profit every day.

Mihaylovic

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it is not easy at all. first of all you have to have a very strong team that is trustable, nonanonymous and popular. So people can trust and prefer to use your platform. And you have to invest high amount to be able to make marketing and circulate the flow for a while.

Duzter

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Exchanges were much in need, and now things have got to be very easier to start one's own cryptocurrency exchange. Every exchange is now focused on decentralization, but in my view the era of decentralization hasn't come yet. It takes time, and people too now prefer centralized exchanges.

VDraci

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Do not advice people to do this, their first aims will be money making, leave crypto exchanges to professionals, running an exchange is taking a whole lots of responsibility, users funds is on the exchange owner's neck if any thing how wrong, this is not erc20 token where anyone can just build with few clicks

Abiky

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www.Crypto.Games: Multiple coins, multiple games

Aside from complying with regulations such as KYC/AML, I've started to wonder how easy it is to create my own crypto exchange?

In the case of a decentralized exchange based on smart contracts, anyone with programming skills can launch their own DEX for the world. But the real issue is to provide support to customers, and comply with every single regulation imposed by worldwide governments. At a certain point, starting our own cryptocurrency exchange might not be an easy task to do. Launching a centralized exchange instead of a decentralized one might be even more difficult for the average entrepreneur, in my own opinion.

So I'm wondering what's the easiest way to launch a cryptocurrency exchange? Does taking the path of decentralization, help you avoid complying with certain regulations? Or is everything the same with a centralized exchange? Maybe creating a Peer-to-Peer site where users can trade crypto in person for Fiat, would be the easiest path to go? Isn't it?

Any recommendations or suggestions will be highly appreciated. Thanks in advance.

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