Should we invest in a bitcoin exchange? - page 2.

Hypnosis00

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Quote from: rathaha10 on July 12, 2020, 06:04:04 PM

Quote from: jane maradona on June 19, 2020, 04:26:47 AM

After many years of trading, I realized that I should have my own bitcoin exchange. With a volatile bitcoin market investing in a bitcoin exchange is really beneficial. I need more sincere advice? After consulting a number of suppliers. Only $ 10,000 for a bitcoin exchange. Details:bitcoin exchange source code . With such an amount, should an bitcoin exchange be invested?

It all depends on dedication and eventually luch will shine your way. Few days ago, someone asked cz_binance on twitter for his advice about people looking to run a successful exchange just like him and his reply was that it is not late to start anything, so far you love and have passion for something and when you give it your best, luck will shine through one day no matter how difficult it might seems

Well, that it matters most "dedication" but also it something to rely on the funds you've been holding and the people around you who give their knowledge to completely work. We can make it alone as we know that, we assume that you have the dedication and optimism but can't assure also that your teammates will work the same as you. You all need their commitment as well and that for sure it works smoothly but I say, we don't need to rush, it would in perfection, timing, and having a concrete plan.

Not because you'll have already the money (enough to start) but look into yourself also and your people if they are ready for this.

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Quote from: jane maradona on June 19, 2020, 04:26:47 AM

After many years of trading, I realized that I should have my own bitcoin exchange. With a volatile bitcoin market investing in a bitcoin exchange is really beneficial. I need more sincere advice? After consulting a number of suppliers. Only $ 10,000 for a bitcoin exchange. Details:bitcoin exchange source code . With such an amount, should an bitcoin exchange be invested?

It all depends on dedication and eventually luch will shine your way. Few days ago, someone asked cz_binance on twitter for his advice about people looking to run a successful exchange just like him and his reply was that it is not late to start anything, so far you love and have passion for something and when you give it your best, luck will shine through one day no matter how difficult it might seems

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Quote from: Lanatsa on July 12, 2020, 02:40:47 PM

Quote from: Ryker1 on July 12, 2020, 02:31:19 PM

Quote from: Asuspawer09 on July 12, 2020, 01:53:45 PM

It is not really recommended to invest in exchanges for the long term investment as many exchanges end up closing because it is a risky business as the market price of a lot of cryptocurrencies is going up and down.

For short term investment or you're just going to exchange some of your token exchanges work really well for some of the users, but still do not put a big amount of funds in exchanges and if you're going to put a big amount you might need to go for a popular exchange that is already trusted by a lot of users.

If you're just going for bitcoin just go for a bitcoin wallet that has a private key and store your bitcoin their for long term investment.

Well, sounds you did not get of what OP wanted. Op did not want to put his bitcoin on an exchange, however, --OP asked sincere advice if the $10k is enough capital to build his own exchange. Indeed right. The Crypto market exchange business is very profitable but if you will succeed in building and establishing on it. Just like gaining trust in the crypto community just like what Binance did. Analytically speaking, I can't compute what is the exact amount will cost but for sure it should be thousands of dollars.

Hundreds of thousands you mean because establishing nor creating one wont really just talk tens of thousands if we do base up on creating the platform plus the marketing alone

which wont really be a small amounts to talk on.Also, if you do consider such business then you should be at least knowledgeable towards it, not just

trying to dive in just because you have seen others exchange do succeed and make some real profits.It isnt easy as it sounds!.

Oh, you guys mean it's really hard to build a business especially the biggest one where there's a potential that it could gather more people. But let's just check the fact that not everyone is like that, so does gathering potential clients. People who carelessly think copying business is good while they don't know how to make people choose them is still useless. I think exchange business is kind of a big business especially if you have to deal with people online.

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Quote from: Ryker1 on July 12, 2020, 02:31:19 PM

Quote from: Asuspawer09 on July 12, 2020, 01:53:45 PM

It is not really recommended to invest in exchanges for the long term investment as many exchanges end up closing because it is a risky business as the market price of a lot of cryptocurrencies is going up and down.

For short term investment or you're just going to exchange some of your token exchanges work really well for some of the users, but still do not put a big amount of funds in exchanges and if you're going to put a big amount you might need to go for a popular exchange that is already trusted by a lot of users.

If you're just going for bitcoin just go for a bitcoin wallet that has a private key and store your bitcoin their for long term investment.

Well, sounds you did not get of what OP wanted. Op did not want to put his bitcoin on an exchange, however, --OP asked sincere advice if the $10k is enough capital to build his own exchange. Indeed right. The Crypto market exchange business is very profitable but if you will succeed in building and establishing on it. Just like gaining trust in the crypto community just like what Binance did. Analytically speaking, I can't compute what is the exact amount will cost but for sure it should be thousands of dollars.

Hundreds of thousands you mean because establishing nor creating one wont really just talk tens of thousands if we do base up on creating the platform plus the marketing alone

which wont really be a small amounts to talk on.Also, if you do consider such business then you should be at least knowledgeable towards it, not just

trying to dive in just because you have seen others exchange do succeed and make some real profits.It isnt easy as it sounds!.

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Quote from: Asuspawer09 on July 12, 2020, 01:53:45 PM

It is not really recommended to invest in exchanges for the long term investment as many exchanges end up closing because it is a risky business as the market price of a lot of cryptocurrencies is going up and down.

For short term investment or you're just going to exchange some of your token exchanges work really well for some of the users, but still do not put a big amount of funds in exchanges and if you're going to put a big amount you might need to go for a popular exchange that is already trusted by a lot of users.

If you're just going for bitcoin just go for a bitcoin wallet that has a private key and store your bitcoin their for long term investment.

Well, sounds you did not get of what OP wanted. Op did not want to put his bitcoin on an exchange, however, --OP asked sincere advice if the $10k is enough capital to build his own exchange. Indeed right. The Crypto market exchange business is very profitable but if you will succeed in building and establishing on it. Just like gaining trust in the crypto community just like what Binance did. Analytically speaking, I can't compute what is the exact amount will cost but for sure it should be thousands of dollars.

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Quote from: jane maradona on June 19, 2020, 04:26:47 AM

After many years of trading, I realized that I should have my own bitcoin exchange. With a volatile bitcoin market investing in a bitcoin exchange is really beneficial. I need more sincere advice? After consulting a number of suppliers. Only $ 10,000 for a bitcoin exchange. Details:bitcoin exchange source code . With such an amount, should an bitcoin exchange be invested?

It is not really recommended to invest in exchanges for the long term investment as many exchanges end up closing because it is a risky business as the market price of a lot of cryptocurrencies is going up and down.

For short term investment or you're just going to exchange some of your token exchanges work really well for some of the users, but still do not put a big amount of funds in exchanges and if you're going to put a big amount you might need to go for a popular exchange that is already trusted by a lot of users.

If you're just going for bitcoin just go for a bitcoin wallet that has a private key and store your bitcoin their for long term investment.

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You know what op, I really think that that is a really great idea. It has also crossed my mind a couple of times. The only problem for me is the funding. Lol. But seriously though, I really think you should give it a shot yourself. Start off with the famous ones. Also, it would he nice if you can encounter an exchange that is just starting out but has great people behind it. This is quite risky so you should do it a bit later when you are more confident about your skills on investing on exchanges like background checking of the developers, the investors, and so on.. I hope you make the best decisions. Good luck

)

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Quote from: Maus0728 on June 19, 2020, 05:41:21 AM

Keep an eye out of this platforms that offers bitcoin exchange source code especially if you do not have a deep background or extensive technical knowledge on this matter since building a cryptocurrency exchange is not as simple as we might think.

Building an exchange should be done deliberately and having the control of people's money, and being the intermediary of their trades needs a well-educated technical team behind a complex project. Secondly, it is a no-brainer that opening an exchange also needs to consider the legal implications as it will serve as the protection for people who uses the platform especially if the source code you will be using is not originally created by you.

In fact, people with no programming background should not use an open source code of a bitcoin exchange because of the possibility that it might have a backdoor written on it which can cause a catastrophic failure of funds being lost.

Investing in a bitcoin exchange should be studied first before you do some actions regarding this.

In making an exchange, you need to have a huge budget because it is not a cheap investment than you think. There are a lot of things to consider before you do it, the market, the people, the prices, and etc.

But if you really want to create one, you should hire someone that is knowledgeable about programming, the market, or people who are professional when it comes to this platforms. And that will be included to your expenses, earning reputation is easy once you are giving good service to your customers but still you need to take care of their money because that's your priority to prevent bad reputation.

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Quote from: jane maradona on June 19, 2020, 04:26:47 AM

After many years of trading, I realized that I should have my own bitcoin exchange. With a volatile bitcoin market investing in a bitcoin exchange is really beneficial. I need more sincere advice? After consulting a number of suppliers. Only $ 10,000 for a bitcoin exchange. Details:bitcoin exchange source code . With such an amount, should an bitcoin exchange be invested?

Be careful. Many will use 0X protocol or some prebuild engine to build you an exchange.

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Bitcoin exchange is one of the most profitable business in the crypto space, you need a decent capital with this, so make sure you'll do everything to succeed. The problem is, the biggest exchanges in the market are already dominating, like the Binance, Coinbased, and Huobi, and people are looking at these exchange as good exchanges so most likely you will have a hard time to find traders using your site, I mean the volume of traders that will make your operation profitable.

I don't want to judge early, but I'm telling you, it's a big challenge for investors to start this kind of business.

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Quote from: jane maradona on June 19, 2020, 04:26:47 AM

After many years of trading, I realized that I should have my own bitcoin exchange. With a volatile bitcoin market investing in a bitcoin exchange is really beneficial. I need more sincere advice? After consulting a number of suppliers. Only $ 10,000 for a bitcoin exchange. Details:bitcoin exchange source code . With such an amount, should an bitcoin exchange be invested?

If you have enough knowledge about everything in order to put up your own exchange and if you have enough capital then why not?! But if you just entrust your bitcoin exchange to others that have knowledge on it and you just put a capital for it ,then i think that is a bad idea because scammers may arise and stole the money or funds of the people who wants to use your exchange. Much better to do more research before jumping into a business like exchange.

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Quote from: jane maradona on June 19, 2020, 04:26:47 AM

After many years of trading, I realized that I should have my own bitcoin exchange. With a volatile bitcoin market investing in a bitcoin exchange is really beneficial. I need more sincere advice? After consulting a number of suppliers. Only $ 10,000 for a bitcoin exchange. Details:bitcoin exchange source code . With such an amount, should an bitcoin exchange be invested?

It all depends on how much you know about running an exchange. You need to know everything from starting an exchange to the end. I don't think you can do very well here without prior experience. If you do not know the A 2 Z of an exchange, it would be better for you not to invest here. So you should follow the Bitcoin exchange rules then it's good idea for us.

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Quote from: jane maradona on June 19, 2020, 04:26:47 AM

After many years of trading, I realized that I should have my own bitcoin exchange. With a volatile bitcoin market investing in a bitcoin exchange is really beneficial. I need more sincere advice? After consulting a number of suppliers. Only $ 10,000 for a bitcoin exchange. Details:bitcoin exchange source code . With such an amount, should an bitcoin exchange be invested?

I am in this job like 2.5 or 3 years and i started to buy my first bitcoin at my first year.

And i never seen losing person who have bitcoin. Bitcoin always lets you make profit if you can wait for appropriate time.

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Quote from: Jemzx00 on July 11, 2020, 08:15:55 AM

If you read some rules regarding some exchanges, they are displaying that do not place too much tokens or coins that is held there for a long time. This means that exchanges are made for exchanging. You only use them for a small amount of time and not that long because those wallets are not specifically made for holding them for too long. Exchanges can encounter problems and you can avoid them by only using them when you need to.

Investing in exchange is completely different from holding your funds on the exchange. When you invest an X amount of money then they pay you dividend or intrest based on their growth and profit, some exchanges require the users to hold the exchange issued token and I like the holding tokens method more than just investing in the exchange because if the exchange becomes more popular then the token will also increase in price have a look at Binance and you will understand.
As for having your funds stored in the exchange account, then it is a very risky option for parking your money cuz the exchanges are vulnerable to exploits if there is any left in the code and then you can lose your money in case the exchange faces a hack.

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Quote from: Jemzx00 on July 11, 2020, 08:15:55 AM

If you read some rules regarding some exchanges, they are displaying that do not place too much tokens or coins that is held there for a long time. This means that exchanges are made for exchanging. You only use them for a small amount of time and not that long because those wallets are not specifically made for holding them for too long. Exchanges can encounter problems and you can avoid them by only using them when you need to.

More exchanges are becoming smart by offering interests to customers in order to secure their funds.

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If you read some rules regarding some exchanges, they are displaying that do not place too much tokens or coins that is held there for a long time. This means that exchanges are made for exchanging. You only use them for a small amount of time and not that long because those wallets are not specifically made for holding them for too long. Exchanges can encounter problems and you can avoid them by only using them when you need to.

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Quote from: Findingnemo on July 11, 2020, 02:37:59 AM

Quote from: traderethereum on July 10, 2020, 12:37:32 PM

Quote from: Findingnemo on July 10, 2020, 12:31:14 AM

If everyone creates their own bitcoin exchange then who will be trading there to have volume? If you have capital and enough knowledge about managing bitcoin exchange then sure you can go but buying source code from someone isn't a good choice.Create your own exchange if you have a team to do which involves lot of time and money as well.For me existing exchange is enough for my trading activities.

Other people will trade in various exchanges, but to create their own bitcoin exchange, they will need to have a large amount of the money.
I don't know how much money will be needed to create bitcoin exchange, but I am sure that will be a big amount.
Besides money, you will need skills to manage and communicate with your team because you can not work alone to manage the exchange.
You need to spend much time to build the exchange, and sometimes, you will need to think about something new that will be different than the other exchanges.
We already have so many exchanges to trade, so I think we better use that exchange, which we already used.

Apart from the capital they also need extensive knowledge related to website development, they can hire someone to do this but the owner must have some knowledge to ensure there is nothing shady going from the hired members.Crypto exchange is one of the profitable business but not every crypto exchange are in profits.

That is what they should have and know.
Even if they can hire someone to do the job, but I think the owner should know everything about his business, so if his employee is doing the wrong thing, that owner will know and will warn them.
Crypto exchange now grows become a large scale, which makes many rich people who have a large amount of money want to create their own exchange to attract their people.
That will makes each exchange compete with the other to give the best services to their members.
And if they can not do that, their exchange will not have a chance to survive among the other exchanges.

Tahsin Kabir Kollol

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I don't think it would be good for you to take on this idea. It may not be possible for an individual to conduct an exchange. Moreover, it needs a special security team to secure it who have enough knowledge about this. Moreover, other ancillary functions require manpower to manage them. Managing your own exchange is expensive and you can be lost your money.

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investing requires a thorough study. Yes one can invest in bitcoin exchange. However we know that when it comes cryptocurrency, it is relevant to high risk. High risk meaning high potential losses and it make worst due to its volatility. This is the main reason when one ask for invest usually you will get an answer from most of the users here to do your own research and invest money you can afford to lose. Aside from that there are other users will going to tell you to invest in variety of crypto or by not putting your money in one basket.

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Quote from: jane maradona on June 19, 2020, 04:26:47 AM

After many years of trading, I realized that I should have my own bitcoin exchange. With a volatile bitcoin market investing in a bitcoin exchange is really beneficial. I need more sincere advice? After consulting a number of suppliers. Only $ 10,000 for a bitcoin exchange. Details:bitcoin exchange source code . With such an amount, should an bitcoin exchange be invested?

If you don't have enough knowledge on putting up your own bitcoin exchange much better to think other investment so that you will not lose your $10,000.Bitcoin exchange is very confusing which need a lot of knowledge about programming and website developing. This is not so easy as what you think. Why not invest your money on bitcoin for long and short term in Binance platform or do trading. Or find other business that you can operate very well.

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