Topic: Is there a market for this? - page 2. (Read 903 times)

I very highly doubt that there is a need for a brand new exchange just for this.

For starters, there are existing markets for basically every single pair that you've listed here. If you take a look at https://coinmarketcap.com/assets/tether/#markets then you'll see even the tether markets are basically all there with high volume already, let alone your BTC markets.

Launching the site would require immense trust and advertising. People don't even trust bittrex, bitfinex, and btc-e just got shut down. Why would they trust you? Charging a percentage withdrawal fee also makes no sense imo.

The only plus side would be the no KYC, but that depends on your government ultimately.

There definitely is a market for this, but users need to trust an exchange before they transfer coins and start trading. How are you going to build this trust?
Plus taxing withdrawals (substantially, instead of the usual withdrawal fees) encourages unsafe behaviour like storing your coins on the exchange where there is a potential for being hacked. You should make sure that your security practices are top notch.

I'm interested. Considering no trading commissions, small traders (who withdraw, say, <4 BTC at a time) would do very well in this environment, assuming there is liquidity, especially when you consider the types of fees that Bitfinex and Bitmex are already charging for BTC withdrawals.

What's the ETA for launch?

Thanks, I'm still brainstorming ideas, when I used to trade on Huobi I remember they had some really unique features for withdrawals, for example I believe you could buy a package for a fixed price that allowed you a certain number of withdrawals without fees, there was a bunch of different packages but the more you bought in "bulk" the cheaper the withdraws were


Yeah, the withdrawal fee might have to be higher than 0.1%, I'm still researching the fee structures of other no-trading fee exchanges, in the first few months starting out, I'm just looking to make enough to be able to pay the costs of hosting, to break even essentially. https://coinmarketcap.com/exchanges/volume/24-hour/no-fees/


It seems to have paid off for them, Okcoin and Huobi are still both exchanges with some of the largest trading volumes, but I think the no-fee model has been why volume's been driven so high, the new policy of adding trading fees has only been in effect since January.

What this also did was helped out the smaller Chinese exchanges


Looking at data from CoinMarketCap, there's a total of 5029 exchanges, only seven of them have Tether pairs, so I'd certainly still be one of the very few exchanges that have it.


Yes, I've thought about this, I think it's unlikely though, I guess the only other incentive to use my exchange would be no trading fees


For now the closest thing I plan on having is Tether, what you could do is sell your bitcoin for Tether, and then transfer it to the Tether official website and cash out. I know there's certain countries they don't support however https://tether.to/faqs/

I use LBC for the past two years but in recent days they have added fees for depositing it the exchange wallet. Please let me know the wallet can be used in middle east region to exchange it for fiat without depositing fees.

Anyone has a screenshot of Yunbi? It's currently under maintenance. I wanted to see it's user interface. It's logo looks like the eSports organization, Cloud9 

Anyway, you said that one of your "niche" would be to add more trading pairs for Tether(USDT). This is a nice feature, since I don't think most exchanges have this. If I'm not wrong, most exchange sites only has BTC:USDT, ETH:USDT, and LTC:USDT. Also take into consideration that what if, shortly after your exchange site is up, the top exchanges also implemented more trading pairs for USDT? How would you drive people to use your service then?

Yes, no trading fees is a very good feature in my opinion, but I don't think that itself would attract most traders, as probably only the bigger traders are going to take advantage of this. Just my 2 cents.

The market leading Chinese exchanges (Okcoin and Huobi) did this for years. No fees for trading (creating incredible churn and volume), but fees for withdrawals. I have no idea how successful it was from a profitability standpoint, but I believe they only stopped after being pressured by the government earlier this year.

It is not sounding as good idea as it seems you are missing out your big income stream.

The usual practice among all exchanges is, charging for each and every trading and then there will be no withdraw fee (otherwise only network fee).

For example if some trader deposits some $100 worth of bitcoins and trades some 10 times and then withdraw only $40, he might have used all your resources but you are not charging anything for his activity but to the amount which might console him after some frustrating experiences.

I imagine there is a market for it. How much liquidity will appear will, of course, depend on your ability to market the exchange and perhaps made deals for 0% withdrawal fees for liquidity providers. I'm interested, personally. Good luck.

I'm building a bitcoin exchange, basically a Yunbi clone, I'm starting with the same code their website is using and modifying it

My "niche" I guess, is going to be that I'm going to be adding Tether trading pairs and I won't be charging any trading fees. Also I'm going to focus on advertising to Westerners versus Yunbi which mainly has Chinese users.

These are the trading pairs I plan on starting with


The only fee charged would be a 0.1% withdrawal fee, all trading volume would be no-fee

Also, forgot to mention because of my jurisdiction, there would be no KYC requirements 

I'm just trying to gauge people's opinions on this, thanks!