Bitcoin Forum

I’m developing and designing an exchange and I wanted to gather some suggestions from the community! Here is a little preview of it:


https://robertt.com/exchange.png


I’m creating a free and open source exchange that will be based on ‘play money’. I thought this could be useful as a lot of the time, beginners are thrown right into the deep end when signing up to most exchanges. With an exchange that only deals with ‘play money’, users can get a feel of what it’s like to trade with Cryptocurrencies. It’s just a little side project but I thought it could perhaps be useful.

So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?

A "faucet" for trial like play money is good enough but gets medium importance to me. Some users who are developing bots and trying to run homebrewen strategies might like it. Did you get that name from the faucet dispense of crypto-games? :D

The UI looks good but just an image will not do, lets hope that the beta version will be made available for testing out in near future.

What are the deposit/withdraw options available? Are you going to register yourself as a business somewhere? It is a DEX I assume for now.

Seems minimalistic - which is not a bad thing. But some traders like to have all sorts of indicators in one place so you might face some backlash from them, might want to keep some room for that.

Overall I think it looks good but trying out the real thing would bring out more suggestions from users.

I’ve not got around to naming it yet, this is just a side project that I think will help new users. The name or term ‘play money’ is used frequently and i will be incorporating that to the project.

If you’re experienced, it won’t be something you’d find incredibly important of course but that’s because it’s a tool for beginners. It’s just a little free side project that I thought could be useful so it’s still in production, i have no plans to create it as a business and i’ll make the project open source. I’m hoping that I can gather some experiences that people have had in the past when they were less experienced and just starting out with an exchange.

Glad you like the interface, and yes of course all options that are generally expected for traders will be there but structured in a more pleasant and easy to use way.

I can't tell much based on the screenshot alone but here are some suggestions:

• You might want to consider moving the "Recent trades" section into the empty space below the "Support" icon.
• A bit too dark, a lighter theme perhaps ^{[on/off switch]}.
• Since you're targeting beginners, then there should be bubble pop-ups for introducing everything or simply a tutorial tab of some sort.

Everything ^[literally] :D

Thanks for the suggestions!

A light/dark mode is definitely a good idea and something i’ve planned to do. I’m also building a step by step tutorial and i’ll do this hovering over certain features.

Looks great. I would have to agree that a light mode would also be good.

My biggest headache when I first used exchanges was the sign up process.

So you want the design to be a cryptocurrency simulation site? There are a lot of simulations through which can help you to develop your project, search on Google and you will find more.
I do not see a need to create a wallet, but updating the account (sign up or use cookies) is sufficient.
Since you want to teach beginners to trade, some things should be added, such as stop orders, as they reduce losses.
I also believe that beginners should be taught how to deal with trading view charts and some educational articles on technical charts, trading strategies, and more.

Most websites would put settings and register, login/out option at the top right section. I don't know the reason why you put it at the bottom left and it's probably not as confusing but it could be bothersome when looking for it.

Since this is some kind of learning experience for beginner traders I think it would be great if you add in some kind of forum style discussion page where people discuss their analysis on each trade they will be doing. By adding that I think users will not only learn from trading directly but also learn actual technical analysis from other members. Best example I can think of is what tradingview is doing in each cryptocurrencies where they talk about their own analysis on each pair. Here is an example for Bitcoin (https://www.tradingview.com/symbols/BTCUSD/).

Thank you! I will make sure to add that  :).

I think a forum would be a great idea. I could integrate that onto the website in Laravel.

What type of topics would you suggest?

I help a lot of people to register with Exchanges and most of them just need a platform to buy and sell bitcoins for personal use, they do not want to use exchanges to be full-time traders. I think a lot of this has to do with the complexity of the trading concept and all the different trading strategies and jargon linked to it.  ::)

This will be a nice tool for them to grasp the basics, without having to risk any of their own capital, so thank you for that. One of the biggest mistakes that most of the newbies does, is to forget about the trading fees. (They make a bunch of small trades, with small margins and then most of the profit are absorbed by the exchange fees that are charged.  ::)

after you gathered enough suggestion, hope it will be available for public testing? I am seeing this to be  game changer.

I think adding many exchanges support is good fiche. Because users can get bast prices and making arbitrage.

When it comes to simulation platforms then there are lots but creating another one and tending to teach up some noobs then this wont really be a bad idea.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.

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Game changer? Its just a simulation one unless if he would really consider on making it a live one.

This is a website that would have that exchange list for you to compare between exchangers.You can try to search up and you will find the difference between a simulation site and a exchange list with specific details.

method using many exchanges - buy BTC at ex1 for 10000, after sell BTC at ex2 for 10080, and do it 3650 times in 24h.

Are you creating an exchange when we can trade with play money only and it will only be for the training purpose ? Will there be no option to deposit real money and trade ?
If this is true then it is a very unique idea and you exchange will become much popular because all the newbie traders like to have a live platform where they could test their trading skills on the live data with play money.

Thank you

This is great, I wish I had something like this when I first started.

What really helped me at first was the different types of trader that you could be, as I didn't know how much of my time (and money) to invest into this. Reading abouto ther peoples experiences helped, knowing to expect the unexpected and to not be too upset should you lose.

I would suggest little explanations or defintions for each section of the platform or a little Wiki about trading with all the different types of traders and stategies.

I will definitely recommened something like this to my friend who are starting out!

I'm not really suggesting a forum here but just a dedicated page or a community for each trading pair you have. For example if you have a BTC/USD in your exchange it would be nice to see what others are saying about that particular pair and also to see all of their analysis with it, yeah sure we won't be eliminating biases and we might see some users trying to influence others but the thing is for any experience traders they can always verify their analysis on their own. Having some kind of separate forum will just make you stray away from your main objective IMO.

I second this. It will be useful for newbies to have an exchange with trading indicators and signals laid out with margin and a fake balance, to avoid making a pointless demo account with some broker, and most brokers you can make demo accounts on for free aren't focused on cryptocurrency trading anyway. I admit indicators may be a difficult feature to implement because they have to be exactly right to be useful, there aren't a lot of open-source implementations of indicators you can reuse or APIs you can connect to that don't cost a lot of money, and of course even without these problems, all of this is a lot of work for one person. So implement what suits you.

Thanks for the suggestion! I totally agree (regarding the fees that newcomers are unaware of) and I do notice that very often particularly with friends/family. I'll make sure to add a feature whereby users can be notified of the fees from major cryptocurrency exchanges so they get an idea of what it's like.

I have recently come to this stage of the project and I certainly agree that it will be a nice feature to add so it's also something i'm working on. I totally agree on all fronts regarding other platforms, it seems you have to dive straight into real money trading which can be rather daunting hence why I thought a 'play money' version of a live exchange would be useful for beginners.

Is this a trading simulation... more like trading  without real money for just learning purposes? Is that what you mean by "Play Money"?
Asumming this is demo trading, you could maybe experiment with trading competition and auto rewards for users with points/tokens as they progress while learning how to trade