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Author Topic: if i want to make a btc exchange service,how much money will i have to invest?  (Read 408 times)
mynameisdon
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February 12, 2016, 09:17:39 AM
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hey i have money to invest but not idea about market and exchange service. but is any expert here?that can suggests me the average price for opening an exchange service.

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February 12, 2016, 03:59:07 PM
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Not less than 3 - 4 BTC for only exchange, I think this will be enough.  Wink
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February 12, 2016, 04:05:15 PM
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hey i have money to invest but not idea about market and exchange service. but is any expert here?that can suggests me the average price for opening an exchange service.

there are some good scripts out there that you can use if you have the knowledge to do it. you have to check them thoroughly that there isn't a bad code or a backdoor that will lead to your coins being stolen. if you plan to make an exchange as fun hobby at the beginning, then probably 10btc would be needed at least. but then again, it won't attract any serious traders. starting a real exchange can cost from $100,000 and up to a million as you need to make sure you don't break any laws and so on. you need to hire skilled programmers, you need to invest in advertising, you need to have a decent balance yourself.
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February 12, 2016, 07:42:01 PM
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Starting an exchange Means that you will have to provide the initial trade amounts for All the BTC pairs. If you want get noticed you will need around 1% of the largest exchange. So if Bittrex has 1000 Btc ready to trade in pairs you would need at least 10 BTC, Just for trades.

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February 12, 2016, 10:03:30 PM
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Atleast to start a good trade with exchange facility you need a minimum of 50 bitcoins along with equal cash of 50 bitcoins. Initially you want to be a trusted member with highest ranking. This will get you good deals.

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February 12, 2016, 10:12:15 PM
 #6

hey i have money to invest but not idea about market and exchange service. but is any expert here?that can suggests me the average price for opening an exchange service.
Making a bitcoin exchange needs people mostly experts in the security area because that's will make the exchange alive, need testers to test if there is any bug in the exchange and of course developers, designers etc. Starting with 10BTC should be enough.

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February 13, 2016, 12:03:36 AM
 #7

Lol at the 10 BTC replies. The days of starting some rink-dinky exchange are over as there are now more well funded and robust BTC exchanges available to trade on, with plenty of alt coins selections to play with as well, than there were a few years ago when these types of start-ups were more common.

Even if you somehow did manage to get a secure, responsive exchange up and running with just 10 BTC, I doubt you would get much business, especially with Cryptsy fresh in everyone's mind.

If you were serious, as others have already suggested, you would need to setup a business first, establish relationships with banks if you were to trade in fiat, as well as comply with many laws and regulations, hire good programmers, security experts, and support staff, initially fund the exchange, hire marketers and pay for advertising. To get people on-board you would also most likely need to offer promotional credit, something like deposit and trade with at least 1 BTC and we will credit you .1 BTC, offer free trade fees for awhile, or something similar.

As you can probably imagine by now, the kind of money required to launch such an endeavor would probably be better invested elsewhere, as it would be approaching or exceeding the $1 million mark.
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