Is Crypto Exchange Franchise Profitable?. Please I need advice

nansunn

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Quote from: noorman0 on December 17, 2021, 05:55:24 AM

Quote from: nansunn on December 16, 2021, 08:12:15 PM

I have heard about Paybito and CoinField Franchise, Is there any other you guys Know?

Afaik, Binance cloud also provides it https://blockchainscripts.online/become-binance-cloud-partner ^[1]

Quote from: nansunn on December 16, 2021, 08:12:15 PM

Do you know anyone that has registered or paid for a Franchise?

You should ask this directly to the franchises you know whether they are paid or not. Binance cloud itself already has several partner exchanges, such as Mandala, Tokocrypto, and Terablock.
Usually you are paid based on your own income with a percentage according to the agreement. This means that your income depends on how much you attract new exchange users in your local area.

Quote from: nansunn on December 16, 2021, 08:12:15 PM

Can I make money from it

If the main exchange you are targeting isn't lying about revenue sharing, of course you can.

Edit:
[1]This is for your reference only. I'm not suggesting the blockchainscripts.online service, you should only deal with binance support directly.

Hello

Thank you very much

Yes you are right. from the details of the franchise, you will be paid 50% of profit of trading from the customers you registered in the exchange or those that registered through your referral

But all the same, I will have to study the concept a little more so that I will not lose money]

I am really very grateful for your advise and contribution

Thanks

nansunn

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Quote from: OrangeII on December 16, 2021, 11:44:41 PM

IMO, in terms of business profits, it's not only seen from the exchange, but there are many factors that determine it. You ask "can I benefit from it?" I said it depends on the circumstances in which you open the branch of business. if there are a lot of crypto players, chances are, you can benefit from it. it's just, look at your rivals there, and think of strategies on how you can attract consumers, and make them switch from the old exchange, to your own exchange. however, if it's a popular exchange, it's quite difficult. other than that, I've never heard of Paybito and CoinField Franchise.

Thanks my dear
I will do a proper research in my area. its etter

Payito is registered in the Untied states while coinfield is Estonian

michellee

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That depends on your country regulations. We can not deny that sooner or later, your government will be aware of your exchange and will investigate by asking you about your exchanges. Maybe they will ask you to fill in some requirements and wait for some time while checking whether your exchange is safe or needs to make sure for some things.

But if we see the other business with a franchise, I think that can be profitable, as long as you can collaborate with the right company and they do not try to steal your money. Besides that, crypto is something new for the government so they need to know everything before allowing people to create their own exchanges.

You can make money from the crypto exchange but only if you can get an agreement from your government.

coin-investor

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You better ask a lawyer in your locality whose expertise is all about franchising a Cryptocurrency related service, it's a case to case basis check first your location laws about setting up a franchise and the license it needed this is important before doing a feasibility study first or taking up a course on franchising first, so you'll know where to research and contact companies who you can ask to be a franchisee.

Darker45

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First and foremost, make a feasibility study. You cannot get a reliable answer even from the companies themselves or even from those who franchised from them. Every town, city, country is different in terms of real world circumstances. How is crypto adoption in your area? More specifically, how strong is crypto trading there? Are there stronger competitors? How many are they? How much do they earn in average per quarter or month or year? Are there experts you could hire from your locality to maintain a seamless operation? How well do you know about running an exchange? Is it allowed to operate a crypto exchange in your place?

Secondly, if you franchise a crypto exchange, it matters which exchange that is. If you franchise from an unknown, shady, and an exchange that doesn't have a track record because that is the only affordable option for you, you might as well drop your plan.

buwaytress

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^^ I guess OP isn't talking about a franchise but a whitelabel. That is, to use Bittrex or Binance skins and tech, just under a different brand. You pay them fixed commissions so I wouldn't really recommend it, I know of projects that have tried and failed.

You need a customer base first that's why.

==

But I can tell you that an exchange business on your own CAN be profitable, for sure. Was sort of involved myself at some point, though now am really just a crypto seller P2P. It's just a really full time job that you need to keep building, and P2P like on localbitcoin can be your building base until you get enough volume.

I can tell you that the biggest indie exchanges in crypto in Southeast Asia aren't all "crypto-only" exchanges, but just regular exchanges. The success I'd say is down to the fact that unlike in Europe, in a single country like Indonesia or Malaysia, you can have about 20 or 30 different types of local e-money wallets. All 10+ mobile networks and 20+banks in Malaysia, for example, have their own e-wallets, but all are interchangeable with each other, and people do want to exchange other types of money using phone credit, or in-game currency which is also big in SEA, or vouchers, or crypto to pay bills, buy stuff, or just have cash in hand.

hugeblack

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I did a quick search and found some Bitcoin & Blockchain Center franchise, which are distributed in many countries, but most of them require an initial investment of about $30k and then you will get some advantages such as an integrated team and experience, etc. And some of that there are more fees.

In short, it is a job that requires two types of risks, the first of which is the capital, which may be more than 50 thousand, and the second is confidence in the franchise and that they will not deceive you, and then they will improve business management in order to achieve profits and continuity in it.

Therefore, it is better to go through the experience yourself, but as I mentioned to you, the risks are high.

jrrsparkles

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Yes it is, if the exchange is reputed but exchange has franchise? This seems new to me because all I know that KFC and Starbucks. Tongue

Crypto exchanges are making money in lot of ways so if you can find customers and become successful then obviously you are going to make profits whether its on your own or franchise.

sheenshane

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Quote from: mk4 on December 17, 2021, 12:32:59 PM

OP is actually asking on an online forum for business advice

Which not supposedly right because asking for ideas from random people on the internet regarding your business isn't good.

If I were you OP, you should contact professionals and experts in a business franchise.
It could be,

A lawyer
Accountant
Business franchise experts
Business owner

I don't know either of those exchange platforms you mentioned above, just be careful about investing your money.

mk4

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Quote from: carlfebz2 on December 17, 2021, 11:56:26 AM

If your budget permits you then i would go after on names or brands which are known or popular on which you do know that you wont really be wasting off that investment of yours even though theres no assurance but for sure those names alone would bring out that probability since its been known
and once you are attached then making money would really be in next.

I havent heard off about those franchising thing but instead if you could make your own platform then its better but if your just really planning
on having franchise then choose the best.

Be careful on dealing up with something you dont know and you might get scammed. In depth research is needed.

Sure. But since OP is actually asking on an online forum for business advice.. we can probably assume he/she doesn't have the budget for the likes of Binance. Starting an exchange itself(let alone buying a franchise), is expensive enough. For some reason it's a common misconception that running an exchange is just buying the software then you pretty much let the exchange run while you're enjoying the money from the fees lmao.

carlfebz2

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Quote from: mk4 on December 17, 2021, 05:15:43 AM

Quote from: odolvlobo on December 17, 2021, 04:39:47 AM

My advice is to find a better way to determine if your business will be profitable than asking random strangers on the internet. Perhaps you could ask the other franchise owners.

This; or just generally just take a look at how franchises are doing. OP should have a general idea just by simply doing research.

A good example: Not sure if it's technically a "franchise"(though I'm pretty sure it's close), Binance.us is a "franchise" as CZ stated that Binance.us is a separate entity than Binance.com. You know that the "Binance" branding is really really strong to start with, hence why it's doing well in the US even though the likes of Coinbase is still the king.

If your budget permits you then i would go after on names or brands which are known or popular on which you do know that you wont really be wasting off that investment of yours even though theres no assurance but for sure those names alone would bring out that probability since its been known
and once you are attached then making money would really be in next.

I havent heard off about those franchising thing but instead if you could make your own platform then its better but if your just really planning
on having franchise then choose the best.

Be careful on dealing up with something you dont know and you might get scammed. In depth research is needed.

noorman0

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Quote from: nansunn on December 16, 2021, 08:12:15 PM

I have heard about Paybito and CoinField Franchise, Is there any other you guys Know?

Afaik, Binance cloud also provides it https://blockchainscripts.online/become-binance-cloud-partner ^[1]

Quote from: nansunn on December 16, 2021, 08:12:15 PM

Do you know anyone that has registered or paid for a Franchise?

You should ask this directly to the franchises you know whether they are paid or not. Binance cloud itself already has several partner exchanges, such as Mandala, Tokocrypto, and Terablock.
Usually you are paid based on your own income with a percentage according to the agreement. This means that your income depends on how much you attract new exchange users in your local area.

Quote from: nansunn on December 16, 2021, 08:12:15 PM

Can I make money from it

If the main exchange you are targeting isn't lying about revenue sharing, of course you can.

Edit:
[1]This is for your reference only. I'm not suggesting the blockchainscripts.online service, you should only deal with binance support directly.

mk4

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Quote from: odolvlobo on December 17, 2021, 04:39:47 AM

My advice is to find a better way to determine if your business will be profitable than asking random strangers on the internet. Perhaps you could ask the other franchise owners.

This; or just generally just take a look at how franchises are doing. OP should have a general idea just by simply doing research.

A good example: Not sure if it's technically a "franchise"(though I'm pretty sure it's close), Binance.us is a "franchise" as CZ stated that Binance.us is a separate entity than Binance.com. You know that the "Binance" branding is really really strong to start with, hence why it's doing well in the US even though the likes of Coinbase is still the king.

dothebeats

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Some exchanges do publish their quarterly reports, IIRC. Perhaps you can check those and see whether the figures suits your liking. Of course, expect that people will still go to the main thing and not really go towards a franchise since it's just the same at the end of the day. Also, keep in mind that exchanges are constantly targeted by nefarious entities wanting to hack them and get the vault open for the goodies, so you have to have a cybersec team that is up to the task of battling these threats on the daily.

odolvlobo

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Quote from: nansunn on December 16, 2021, 08:12:15 PM

...I plan on getting a Cryptocurrency Exchange Franchise
...Can I make money from it
Please I need advice

My advice is to find a better way to determine if your business will be profitable than asking random strangers on the internet. Perhaps you could ask the other franchise owners.

OrangeII

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IMO, in terms of business profits, it's not only seen from the exchange, but there are many factors that determine it. You ask "can I benefit from it?" I said it depends on the circumstances in which you open the branch of business. if there are a lot of crypto players, chances are, you can benefit from it. it's just, look at your rivals there, and think of strategies on how you can attract consumers, and make them switch from the old exchange, to your own exchange. however, if it's a popular exchange, it's quite difficult. other than that, I've never heard of Paybito and CoinField Franchise.

mk4

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This is like asking if starting a business in general is profitable; obviously you making money or not is going to mostly depend on your performance as the business owner.

As for which exchanges sells franchise, probably just try contacting the exchanges that you're targeting.

nansunn

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Hello Guys

My name is Alex
I plan on getting a Cryptocurrency Exchange Franchise
The Franchise will be operated in Africa

I have heard about Paybito and CoinField Franchise, Is there any other you guys Know?

Do you know anyone that has registered or paid for a Franchise?

Can I make money from it

Please I need advice

I will also appreciate if you know of a link or someone I can contact that can give me a clue

Thanks

alex

Topic: Is Crypto Exchange Franchise Profitable?. Please I need advice (Read 226 times)