Topic: Why would not try own e-currency exchange business? What i need? (Read 464 times)

e-currency exchange requires a lot of capital and a lot of marketing and advertisement and requires efficient management and all these are capital intensive, now you need to have good customer relation to further help boost your business.

Indeed, if it comes to cryptocurrency exchanges, it will be difficult, I do not have this ability to make such an attempt. But I would like to try this way: start e-currencies exchange business like Perfect Money/WebMoney/AdvCash with free or paid script.

If we’re talking about cryptocurrency exchanges, I think that it’s really hard because there are plenty of them now. The competition is really tough. I know that I’m saying trivial things, but what you need most is a perfect understanding of the cryptosphere and large investment. You need to make the investors believe in your idea and persuade them to spend their money on it. Basically thousand hours of researching and some practice can really work for you and you’ll find an investor.

I can't deny that what you said makes sense. Even on the Internet, only reliable and reputable websites or operators can get more credit and order. Yeah, you are right, I have no site, even only myself.  I would like to rely on and provide services with a credible and secure exchange platform.

I do not know in which country you live and what rules and regulations you have to adhere to when you do this, but people on this forum got into deep problems when they did something similar and they did not register their actions to make it legal. Example : Money Transmitters in the US are part of a larger group of entities called Money Service Businesses or MSBs. Under federal law, 18 USC § 1960, businesses are required to register for a Money Transmitter license where their activity falls within the state definition of a money transmitter.

The government protect their own. ^hmmmmm^

Hey, thanks.

Do you think altcoin will have a better investment trend than bitcoin? Of course, now the price of BTC is too high. Since May, the price is is getting outrageous, too high for me.

exactly not only a great capital but you also need to have some experience in programming different languages as well. first you have to learn and than you have to gain experience in it to build you own team to work on exchange properly. its not one person game it needs proper time , perfect team and perfect money.

To build the business of course you must have a very large amount. In addition you must have the ability in the field of high technology, especially understanding to apply cryptocurrency. We must have extensive experience and knowledge to do this.

you will need first a small capital to create the site , but also if the exchanger you planning to open isn't 1v1 exchanger then you will need money to start
like the sites that exchange btc to pm or webmoney with commisions like 3% , these sites need capital
but if you planning to open a crypto currency exchange where people trade vs each others like poloniex you won't need a capital since you only offer the platform and you take commisions

I don't think it will be profitable cause there are already reputable sites , also you will need to learn about securing the funds and people may not trust new sites with their money

Sure, why not? Everyone has a dream, just be determined and work hard toward your dream.

What kind of exchange do you want to start? An exchange like poloniex or an exchange for bitcoin to paypal and etc? The latter should be easier.

Good luck!

In first you need to know very very good how work trading and exchanges, so need to learn more.
You want to start your own exchange without start up fund? Impossible, no one can trust you.
You need to invest money, like for advertising , maybe some campaign and others stuff.
And dimostrate that you have some money to others people
Wthout this your site cant have popularity and trust

It is more better for a person to have own a big business , but if you will go for any other business like to have crowd and give services to maintain thier money then you dream needed to have stability like a responsible person , here responsible means not to all problems facing but the protection of the money that the users deposited at your exchange .
And also every time when Wallet support problem needed to solve then you need better team work and team can't be create by us a seconds or just by saying because we need lots of money to pay for the devlopment team and also for the time to time maintenance charges .
So here all over i means to say that if you want make a successful exchange then make a better team and have better amount of money in your pocket otherwise worst lazy exchanges are already available .

Although you do not have a start-up fund, I think you can still have a source of income . But maybe it will not be as big as you think, it can only support you in spending some part of your life. If you want you can join the signature campaign or campaign facebook, twitter, etc ... you will get the altcoins, which will be the foundation for your income. If you want to get as much money as you can from the altcoins you choose the right time to sell it ... good luck.

hi, everyone.

I post this to looking for answers to help me start exchange business.

I am a super geek, often using social networking platforms, forums, blogs etc. Or you can say I'm a real freelancer. That's true. I write some articles, help them top stickers, also handle some pictures, and even design some logos. Because most of the work is found on the network all over the world, so the way I get paid is also varied. For this reason, I began to know what is electronic currency, also called "e-currency".

I remember that the first e-currency I received was paid from Perfect Money, and it was as popular as it was now. So I quickly began to accept this kind of electronic money, and at the same time I found that electronic currency is a very efficient way to pay or get paid. PayPal, WebMoney, OKPAY, AdvCash, Payeer, Epay, FasaPay, QIWI, Skrill, Neteller...

I am using these payment options to get paid quickly and at the same time, most of these payment system provide excellent referral systems. As a referrer, I can benefit from referred users' actions and transactions. Although I recommend a lot of users, actually I found that this affiliate program did not bring me a very substantial commissions.

I've been wondering how to get more income with an effective and fast method. Then I thought why would not try my own exchange business. As a exchanger, there must be a relatively large and stable income guarantee. I do think this is a good idea, nevertheless, I don't how to start.

I have no website,  no start-up fund, but I have plenty of time, energy and determination. You must laugh at me: Hey, you crazy guy. But I do want to start, who can guide me?

Thanks for everyone.