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Dudeperfect
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March 03, 2017, 04:33:57 PM
 #61

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

I have not tried direct exchange business but affiliate program of popular exchanges is paying me little amount with some interval of time so it's not a bad idea to go with affiliate programs first and then to build an own exchange.  Coping up with regulations would be the toughest part in my opinion.

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March 03, 2017, 04:41:49 PM
 #62



In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

Looks like you don't know the benefits and advantages of having a local exchange. You even called it as having a limits which is really not like that.

Please remember that not all bitcoin exchanges supports every country, more especially when it comes to deposits and converting money into bitcoin via withdrawal. I will assume you are in a country where generally supported by those popular bitcoin exchanges so you can say that thing. But even your country is supported, it's surprising that those exchanges don't even required their to use KYC or something like that and you can withdraw your bitcoin as a money easily?


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March 03, 2017, 05:30:39 PM
 #63



In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.

Looks like you don't know the benefits and advantages of having a local exchange. You even called it as having a limits which is really not like that.

Please remember that not all bitcoin exchanges supports every country, more especially when it comes to deposits and converting money into bitcoin via withdrawal. I will assume you are in a country where generally supported by those popular bitcoin exchanges so you can say that thing. But even your country is supported, it's surprising that those exchanges don't even required their to use KYC or something like that and you can withdraw your bitcoin as a money easily?
Local exchange as OP mentioned was focused on direct transaction (buy and sell) bitcoin, maybe he want to give it a shot and consider online exchange require a lot of resources to start. Yes, every country need some local exchanges to facilitate and advertise bitcoin to local citizens, but an exchange cannot develop well without online support.

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March 04, 2017, 01:59:25 AM
 #64

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
I use to sell some coins to my friends but I don't use to charge any fee for these exchanges. However I also know some other friends that do use to charge some commissions (around 10% of that transaction) and it is really profitable for them, even some friends have been able to make a living from this business because of the great amounts and number of transactions that they use to carry out.
If they could get away with it good for them, but that is just too much especially since they were not offering anything besides just exchanging you r money, you can do thin in the forum and the rates are nowhere near as bad.




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pinkflower
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March 04, 2017, 02:19:27 PM
 #65

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.
What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.



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The_Dark_Knight
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March 05, 2017, 02:27:37 AM
 #66

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.
What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.
It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.



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March 05, 2017, 10:44:09 AM
 #67

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.
What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.
It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.
We dream about the mass use bitcoin, but as soon as more people start to use it, and these people tend to be not very educated in cryptocurrency then necessarily appear massive invasion of scams that will rob these people.
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March 05, 2017, 11:20:29 AM
 #68

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.
What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.
It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.

Before you comment make sure you know the meaning of counterintuitive and what I was trying to say in my post.

There is no need for a local BTC exchange if you want person to person transfers. You can use localbitcoins.com for that. Post your buy or sell order and specify that you want to pay or get paid in person. Its that simple.



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LeGaulois
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March 05, 2017, 12:33:23 PM
 #69

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.
What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.
It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.
We dream about the mass use bitcoin, but as soon as more people start to use it, and these people tend to be not very educated in cryptocurrency then necessarily appear massive invasion of scams that will rob these people.

The same can be say about any site using currencies like the dollar, the euro, ect... You can see scam coming out daily to fraud internet users. I am sure the number of scams using bitcoin is still very less compared to others currencies

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March 05, 2017, 07:53:06 PM
 #70

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.
What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.
It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.
We dream about the mass use bitcoin, but as soon as more people start to use it, and these people tend to be not very educated in cryptocurrency then necessarily appear massive invasion of scams that will rob these people.

The same can be say about any site using currencies like the dollar, the euro, ect... You can see scam coming out daily to fraud internet users. I am sure the number of scams using bitcoin is still very less compared to others currencies

I am also sure. Just cryptocurrency the total number of users is much smaller than the fiat currency users.
I often use heat exchangers, but I never cheated. I hope it will be so in the future
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March 05, 2017, 09:40:53 PM
 #71

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
I think before opening the exchange office the awareness of the people about bitcoin is very important. Otherwise, it is impossible to find someone to sell the bitcoin. But I believe in the future we are going to see bitcoin exchange offices on the streets.

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March 08, 2017, 06:45:07 AM
 #72

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
Good idea from my area few people know about bitcoin. Maybe by open a local exchange offline many people will come to know about bitcoin and others crypto currencies. I will still use this opportunity to ask this question. If a local exchange offline is open as a business who will one secured that kind of environment and what are the risk involved?.

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March 08, 2017, 06:51:26 AM
 #73

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
Good idea from my area few people know about bitcoin. Maybe by open a local exchange offline many people will come to know about bitcoin and others crypto currencies. I will still use this opportunity to ask this question. If a local exchange offline is open as a business who will one secured that kind of environment and what are the risk involved?.

I don't think it will. It will not even affect the popularity of it nor will your friends and the people around that offline exchange gain knowledge of bitcoins. I really think advertising it or promoting bitcoins will really encourage people to use it. What will make people use it is if they have a genuine need to use it, like for gambling or investing online.

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March 08, 2017, 07:03:40 AM
 #74

If it pertains to bitcoin, then i would rather go to online system exchange rather going out there, why because people who use computers and internets are familiar with bitcoin..  While going out is an hazzle thing because you need to introduce to them what bitcoin is then  again bring them to the system to inform them and orient hem about it...  my opinion..

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March 08, 2017, 09:03:03 AM
 #75

This talks about bitcoin exchange particularly at online wallets transactions having good transactions with a fast services offered to the account holders. Actually having that advantages of this digital currency era is so amazing and bringing comfortable comfort zone to us, specially making bitcoin as a source of fiancial support from btc to fiat cash exchange. That's why we are now at the peak of our dreams that may bring prosperity for everyone of us who strongly believe in the power of bitcoin.


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March 08, 2017, 10:30:22 PM
 #76

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

The idea is good, but firstly you have to make sure if the local laws allow this, do they require any documents to register the business, then check for TAX, VAT etc.

Exchanging bitcoin locally is a good thing especially if you are located in a place where there are lots of people and the city is frequented by people all around the country.

I would charge at least 2-3% on each trade (buying or selling bitcoins) or maybe more depending on the monthly expenses for this service.

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March 10, 2017, 01:20:26 AM
 #77

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

I don't have any experience to have my own bitcoin exchange, But I do agreed that bitcoin exchange would be profitable if you had something gimmick where other exchange don't have. And it if can give an assurance to all your traders to take  care of their fund to your trading platform.


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(altair)
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March 14, 2017, 11:45:32 AM
 #78

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?

Bitcoin exchange is good for a profitable sideline. You invest to earn at an appropriate timeframe My experience has made my bitcoin exchange profitable in many ways.
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March 14, 2017, 12:00:06 PM
 #79

Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
Good idea from my area few people know about bitcoin. Maybe by open a local exchange offline many people will come to know about bitcoin and others crypto currencies. I will still use this opportunity to ask this question. If a local exchange offline is open as a business who will one secured that kind of environment and what are the risk involved?.

Before any bitcoin local exchange shops will be opened in every streets a bitcoin in huge volumes will be bought by that company. And after which they will be distributing bitcoin tokens that is equivalent to the actual amount of bitcoins they have in storage. Those bitcoin tokens can be used in payment even without internet connection.

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March 14, 2017, 09:33:24 PM
 #80

Making a local bitcoin exchange would need some serious studies about the viability of this kind of project. You can be a local exchanger but what would make people to use your service instead the giants that are already established ? Maybe a local payment solution related to your country but nowadays, you can buy and sell bitcoin with all the payments possible. I afraid the market is somehow "saturated" and or difficult to be in at least

In my opinion there would be no need for a local BTC exchange. BTC was designed to be open to everyone who wants to use it and it has the ability to operate outside of the law and instead it creates its own layer of payments that can cross borders. Why limit it by going local? Use it they way it should be. Borderless.
What are you talking about? Having local exchanges doesn't take anything away from the open nature of Bitcoin. It just gives ease of use to the people who use Bitcoin.

OP, what you're talking about is basically a Bitcoin ATM. I have no idea how much profit they gain, guess it depends on their location.
I'd like to see some usage statistics from people who own one though.

Of course it does. Why make your exchange local when BTC crosses borders in the first place? Why not make the exchange available on the internet for anyone from any country? Setting up a local exchange is counterintuitive.
It does not have to be counterintuitive, some people may not like to exchange their coins in a faceless international exchange by buying locally you could get to know exactly where the exchange is located and that diminishes the risk of getting scammed bu the exchange since you knew where were they located.
We dream about the mass use bitcoin, but as soon as more people start to use it, and these people tend to be not very educated in cryptocurrency then necessarily appear massive invasion of scams that will rob these people.
i think the number of bitcoin users are increasing continuously. although still the majority of people do no know about bitcoin but still the progres of bitcoin accept-er is too good.


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