New Bitcoin/Altcoin Exchange (Tell us what you want to see!)

[TheReamer]

Hello everyone,

We set out to create an exchange for Bitcoin and altcoins.

In our country (Turkey) bitcoin exchanges operate horribly. They charge extravagant fees (such as 5$ for btc withdrawals) and up to %1 to exchange, there is no altcoin support, shitty customer support and huge waiting times, bugs, lost money and bitcoins.

We're here to fix that. And in the meantime, we want to create an exchange that is highly secure, easy to use and that charges lowest fees on the market.

We have things in mind that will differentiate us from other exchanges, but we're looking for your ideas and requests to make this the best possible exchange for you.

We will support BTC to launch the platform. ETH (and likely LTC) will follow suit as liquidity allows.

Features currently in mind:

• Expanding altcoin support, next coin to support is voted by users of the platform.
• Public cold wallets. Exchange will run as a FULL RESERVE. Cold wallet addresses will be public, and a message will be signed every day to verify your belongings are safe. Bank accounts will be audited and reports send out periodically.
• Most competitive rates on the market, with no fees for first adapters of the platform.

We have whole a lot more on our minds, but would like to hear you out first. What would you like to see?

[1714997501]

1714997501

[1714997501]

1714997501

[1714997501]

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[Joel_Jantsen]

Not Functional things I would like to see,'
 -> Your support doesn't take more than couple of hours to reply/resolve the queries.
 -> You don't lock user accounts for suspicious activities without hearing their side of the stories.
 -> All the document verification should be done at the time account is created or within a certain time period and not only when user deposits funds which are high in volume.
 -> Don't lock user out of their own accounts before giving them whatever belongs to them.

[TheReamer]

Not Functional things I would like to see,'
 -> Your support doesn't take more than couple of hours to reply/resolve the queries.
 -> You don't lock user accounts for suspicious activities without hearing their side of the stories.
 -> All the document verification should be done at the time account is created or within a certain time period and not only when user deposits funds which are high in volume.
 -> Don't lock user out of their own accounts before giving them whatever belongs to them.

All agreed and noted.

No one else has lived through problems they want fixed? Your input is very valuable to us.

[Caesar-Giulius]

Hi, good luck to your new exchange

I would like to see:
1)   Responsive support, 1 to 2 hours response to support tickets
2)   Maintain servers regularly, does not like lag, slow and trading sites that go down regularly.
3)   USD amount equivalent to BTC beside price of altcoin for indication (For example bittrex)
4)   No trollbox is good.

[buwaytress]

As you note, exchange services are terrible as service providers (not just in Turkey, mind you). I find far better satisfaction with p2p exchanges or even independent ones on local boards. There is no simple way to address the major issues - issues that won't surprise you. So here are the suggested solutions that fix those problems.

1. Recruit and train support staff before even launching. This costs money. Spend the money.
2. Support staff should also grow along with customer base. Monitor how quickly tickets/customer problems are solved. Taking too long? Need more training. Waiting too long? Need more staff. Display updated statistics of support for customers. Average and means for waiting time and resolution. Then customers have an idea of how long they have to wait.
3. Be transparent from the beginning. If KYC/AML is necessary, then make it clear from sign up. Before customers are even allowed to deposit, make sure they complete all KYC/AML. Customers hate surprises.
4. Withdrawals. Same as (2). Monitor and publish average and mean times for withdrawals. So customers don't wonder how long it takes. Are withdrawals getting longer? Hire more staff.
5. Grow with your base. Are computer resources running low? Upgrade before you crash. Announce down times before they happen. Preferably days before.

If they have great customer service, smooth transactions and worry-free trades, trust me, they won't mind paying fees.

[Slow death]

Your input is very valuable to us.

Add trollbox to be easier to solve people's problems, often the same person sends several support tickets to talk about the same problem, but if you have moderators in trollbox to solve problems with deposits and withdrawals ... will give more space For those in the support to solve problems with account verification and account lockout.

You can also give assistance here in the forum and in the social networks only for those who have problems with deposits and withdrawals.

Another thing has to do with the coins that you will add, I refer to the criterion that you will use to add the altcoins

In addition to charging a fee to add some altcoin, you may also require that at least a certain minimum number of votes be required to add altcoin. The votes must be from different people.

[swedenrt]

Few points:

Immediate verification
less commissions
fast in loading
no sms

[error08]

In our country (Turkey) bitcoin exchanges operate horribly. They charge extravagant fees (such as 5$ for btc withdrawals) and up to %1 to exchange, there is no altcoin support, shitty customer support and huge waiting times, bugs, lost money and bitcoins.

~snip~

We will support BTC to launch the platform. ETH (and likely LTC) will follow suit as liquidity allows.

Congrats and good luck for your project as $5 a charge for withdraw small amount isn't convenient.
I suggest to apply fair withdrawal fee which is max 1% or less for the beginning, and you can set min amount for withdrawal (such as $10 or TRY-30)
And of course, do not charge for deposit as it will be another problem for customers.
Support all banks for withdrawal and if you can do it for deposit as well, not only 1-2 banks for deposit.
Bitcoin wallet (Mobile phone wallet) in order to make transact easier through Android or Iphone.

[raven7886]

As your post says, 'We will support BTC to launch the platform. ETH (and likely LTC) will follow suit as liquidity allows.' - do we assume it is just a buy and sell only platform for BTC with fiat and vice versa for the time being ?
Then you cannot call it an exchange in true sense. An Exchange should have the ability to convert not only in fiat but other crypto currencies as well.

[xaxistech]

I dont use exchangers anymore because they are so riskie right now that all exchangers are being shut down, after that btc-e got seized i stopped using exchangers beucause of that, i had some btc on Poloniex but i withdrawed after the aug 2nd meassure that the exchanger was offline for a whole day.
I would suggest that if you wanna do a project like that, then make it big, make offers to the people to start using your exchange and answer yourself like if you were a costumer; why would people exchange on here? why someone will stop using big-exchangers to use mine? is there any feature that others exchangers doesnt have? that is what you have to consideer if you wanna have success.
hope to hear from your project again
good luck

[seasonw]

What about using localbitcoins? Anybody in your country trade bitcoin to Turkey currency?