Bitcoin Exchange Site

[ltc.mrt]

Hello

Please forgive me for being a amateur in development of site. I have no knowledge in this only mainly in mining and daily trading digital currency.

I have been in the start of mining also daily trading digital currency from Bitcoin,Litecoin etc. This has been my full time work since a couple of years back.

I want to create a simple site for selling/buying bitcoin safely using wiretransfer if possible also CC with the rights documents ( I know these problem against CC that has been hacked and bought with. But I have enough experience to see documents and also proof if the CC is legit or not.  )

My question is what is the estimated cost for this and what is required to operate such a site.

Please PM or write here for answers I would appericate any kind of help and if intressted for a team to develop this for me.

[1714107200]

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[1714107200]

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[1714107200]

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[1714107200]

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[Patatas]

1.Running a exchange is a huge business to handle and needs more than 1 persons,you can't really run a bitcoin exchange alone.No one will trust an exchange which doesn't have a dedicated team behind it.

2.The estimated cost for the entire thing depends on how professional your exchange has to look.No one uses random new exchanges these days,only the one's established are trusted.You will have to spend quite sometime in the market,build reputation of the exchange,stand out from existing exchanges and invest a good amount to keep it running for a few months without expecting any profits.

3.The local bitcoin rule : You will end up spending more money for the marketing and SEO instead of development of the exchange.

4.The cost doubles up as you start putting more employees and promoters.Go for the idea only if you're seriously ready to take risks and your project has the potential for the investors to put their money.

[vic73]

Hi,

As Patatas already pointed out, you need to be very serious and dedicated to make this work. Most definitely you need a sound business development plan.

I roughly estimate that if you have a dedicated team e.g. 2-4 core developers that it will take you atleast 6-12 months and approximately between $100k-150k to have something decent to show, if you start from scratch.
And than there's all the legal stuff you need to go through and deal with.

But you can take the easy route and buy an exchange script for a few thousands dollars

I have wanted to started my own bitcoin exchange or buy an existing one but after some research I felt it would be to difficult and time consuming to pull it off on my own.
Good luck in all your endeavors.

[Slark]

Hi,

As Patatas already pointed out, you need to be very serious and dedicated to make this work. Most definitely you need a sound business development plan.

I roughly estimate that if you have a dedicated team e.g. 2-4 core developers that it will take you atleast 6-12 months and approximately between $100k-150k to have something decent to show, if you start from scratch.
And than there's all the legal stuff you need to go through and deal with.

But you can take the easy route and buy an exchange script for a few thousands dollars

I have wanted to started my own bitcoin exchange or buy an existing one but after some research I felt it would be to difficult and time consuming to pull it off on my own.
Good luck in all your endeavors.

This numbers varies so much from country to country. They are maybe right if Op is from US but in EU, SA or Asia reality of development of bitcoin exchange is totally different.
You can do it much cheaper, laws and regulations are different too.

Where do you saw 'exchange scripts' for sale? And second question: will you trust exchange which is based on reused and bought script? 

[x13]

Besides this, you need a lot of security knowledge and skills in order to save the balances from hackers. Probably, you even need a team of security experts nowadays. There were a lot of thefts on exchanges over the last years.

1.Running a exchange is a huge business to handle and needs more than 1 persons,you can't really run a bitcoin exchange alone.No one will trust an exchange which doesn't have a dedicated team behind it.

2.The estimated cost for the entire thing depends on how professional your exchange has to look.No one uses random new exchanges these days,only the one's established are trusted.You will have to spend quite sometime in the market,build reputation of the exchange,stand out from existing exchanges and invest a good amount to keep it running for a few months without expecting any profits.

3.The local bitcoin rule : You will end up spending more money for the marketing and SEO instead of development of the exchange.

4.The cost doubles up as you start putting more employees and promoters.Go for the idea only if you're seriously ready to take risks and your project has the potential for the investors to put their money.