Topic: its possible to build my own crypto market exchange? (Read 448 times)
yes it is possible to build your own crypto market exchange provided you have the right knowledge about it and right amount of investment needed to build along with you. Before starting your own exchange make sure of all the things which are required to build your own exchange and this you can get to know about all these things by learning about them in their website,blogs and other crypto related articles.
not everyone can do what you do, I am sure if you create your own exchange website by creating a trusted website I am very sure there will be many people who use your website services, nowadays very many exchange websites that give sweet promise, but in fact the website is a scam, I hope you can consider my advice, it is for your good.
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generaly possible.
thenx :]
It's not too late to have your own crypto market exchange, there's always a room for new players but bear in mind that it doesn't stop in creating the site alone but you also need to employ good staffs that can help you run the site, you can't be a one man team. If you are serious about this, you have to invest heavily in site security and your staff should be on their feet 24/7 to answer queries & complaints. You don't want to lose a client because one of your staff neglected an open ticket. thenx :]
In order to build an exchange you need a lot of knowledge on many aspects of IT: security, databases, webservices, UX, design to name a few. I highly doubt it that you possess all the required skills. My advice is to team up with other people that possess skills that you don't have.
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generaly possible.
thenx :]
That is possible mate all of us can build our own crypto exchange if we have enough capital for it. We have freedom to do what anything we want in crypto currency but it always requiring good amount of capital. If you want to build an exchange make it more attractive and lower the withdrawal fee. thenx :]
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generaly possible.
thenx :]
thenx :]
I think it's a little risky these days to open an exchange, at least depending on what country you are. Take a look at China, the exchanges have been suspended, and are now really closing doors because of heavy regulation. If you are in the United States or Japan, you need to apply for a license, that will probably have some hard to fulfill requirements. So see how regulation in tour country is being done, and it will be easy for you to decide if you can open one or not.
There is another question you need to as yourself though. What kind of exchange are you planning on opening and why? You have the normal centralized ones like coinbase, or poloniex, but you also have user to user ones, like localbitcoins, and finally you have those completely decentralized exchanges that operate on the blockchain itself. They are not very popular yet, but I think they are the future. Also, if you go for that one, then you wont probably have any issues with regulation, because just like bitcoin, they will be decentralized and can't really be banned or shutdown.
Hmmm,it is possible but it will definitely cost you a lot, talk about finances, resources even connections to prominent personalities. You can also consult the experienced to receive guide.
Of course it's possible and you can start your own cryptocurrency exchange.But it will take efforts, good location according to the country wise and some capital investment from your side so be prepared for that.I have seen many cryptocurrency exchanges opening infront of me and today grown to such a great height where a every business owner want it to see. Exchanges like Zebpay and Unocoin are some example's of indian based exchanges which opened few years back and now they are running successfully.
What is your budget? A part from some of the thing you can do yourself, you will still need to pay for many services and procure a lot of gears too. If you are planing small to medium exchange you definitely going to spend money!
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generaly possible.
thenx :]
Yes, it is possible amigo. Nevermind about the legalities, we are encrypted, so let's keep it that way. Just make sure that you'll put awesome features to your exchange that aren't available in your competitors. Let's say you support more POS coins compared to the other mainstream ex. Good luck amigo!thenx :]
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generaly possible.
thenx :]
thenx :]
Since you are asking the wrong questions. I don't think you can make it happen.
there are two kind of centralized crypto exchanges.
1. those with fiat. which means you will have to deal with the fiat rules and regulations, taxes, registrations, asking for documents, paying taxes yourself,...
2. those with only crypto. this may also subject to most of the above because you will be running a business with what can be also considered money.
since you say you are a "software engineer" you can also work on a decentralized exchange. these are open source, work only with crypto currency, nobody can restrict them and there are not regulations or taxes either.
1. those with fiat. which means you will have to deal with the fiat rules and regulations, taxes, registrations, asking for documents, paying taxes yourself,...
2. those with only crypto. this may also subject to most of the above because you will be running a business with what can be also considered money.
since you say you are a "software engineer" you can also work on a decentralized exchange. these are open source, work only with crypto currency, nobody can restrict them and there are not regulations or taxes either.
It's legal and you can develop your own exchange same as that you start an common website for business requirements. Here you need to enroll to certain authorities to make it listed under the approved list of exchanges. Another thing is that it need a large scale calibration skills without which one cannot make it successful, because the price moves need to be recorded very accurately.
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generaly possible.
thenx :]
thenx :]
For the fact that there are lots of exchange sites on the web shows the possibility of you having one but the issue is that its much more difficult than some coding but since you are already a software engineer, the back end of any site will be very much easy for someone like you to understand and then run with it. There are several scripts which you can start with to study before designing your own. Concerning the community, if you have a workable product the community will come around although it might be long due to trust in the existing system and platforms.
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generaly possible.
thenx :]
Yes, it is possible amigo. Nevermind about the legalities, we are encrypted, so let's keep it that way. Just make sure that you'll put awesome features to your exchange that aren't available in your competitors. Let's say you support more POS coins compared to the other mainstream ex. Good luck amigo! thenx :]
actually it's a good choice for you to do that,
do not build up a centralized exchange but try to open up a decentralized exchange,
for example etherdelta.com and something like that,it's brand new exchanger and in the future there'll be a lot of exchanger similiar to that one.
everything is very easy,it's like a traditional market where the buyer ans seller doing their trade.
you do not need a place to open up your exchanger,but it's not that easy to create that because for now it's all depend on the network itself.
about legality i think you do not need that one if you can build up a decentralized exchange because it's totally the users themself.
do not build up a centralized exchange but try to open up a decentralized exchange,
for example etherdelta.com and something like that,it's brand new exchanger and in the future there'll be a lot of exchanger similiar to that one.
everything is very easy,it's like a traditional market where the buyer ans seller doing their trade.
you do not need a place to open up your exchanger,but it's not that easy to create that because for now it's all depend on the network itself.
about legality i think you do not need that one if you can build up a decentralized exchange because it's totally the users themself.
If you can code and have some bitcoin lying around which you can use in advertising during starting days than just don't worry about any legislation. Code your platform, remain anonymous and only allow crypto-crypto or crypto-USDT pairs, nobody gonna ask about registration or other bullshits. Many altcoin trading platform are not registered anywhere in the world however they have lots of daily trading volume. Provide secure platform and low trading fee, traders will trust you.
thenx for your help mate !
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generally possible. thanx :]
Of course, it is generally possible otherwise we would not have so many operating cryptocurrency exchanges right now and there are more coming in the next many months as evidenced by numerous ICO projects based on providing exchange services. I suggest that you take a look at the crowded market and see how you can be able to compete by offering your own unique selling propositions (USP).
You must be bringing something fresh into the market so that your project can have higher rate to survive and flourish. Now, as to legality, you have to make sure if the government in your location is allowing such a business model to be based in there (for example if you are based in China they are not allowing cryptocurrency anymore but you can go to Hong Kong instead).
Good luck on your endeavor and I am hoping that your plans can come true soon. By the way, am not taking part in your poll because I find the choices confusing.
hellow everyone, im a software engineer and i wanna try to develop a new market exchange on my own, i wanted to know if its even legal and if its generaly possible.
thenx :]
thenx :]
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