Starting a bitcoin exchange in india

[Fire Rabbit]

Friends, I have a plan to start a bitcoin exchange in india. I know that it requires some bank balance for developing the software .But for this, can somebody guide me what all paper works are required and what all legal formaties are required for the same. Is there anything that I need to submit to the government officials for this.

[parshuram]

Hello buddy.

Good to see someone share my enthusiasm for exchange in India.

I am planning to do this and been reading for a while. Hope to get in touch soon.

You can give your whatsApp if you want.

[bece]

Even I'm willing to start a cryptocurrency exchange in India. There is a huge scope for it.
Let's connect and see what we can do.

My whatsapp No. is 782703425

LOL.. Buddy your Whatsapp has only 9 digits.

[Caztiel]

You need a huge balance for it .... Buy & Setup Dedicated Servers. Custom Scripts. Security Fixes, Marketing etc

[arseaboy]

there's a lots of things that you needed to consider before putting up  a business like this mate,  as you seen how china wanted to regulate exchange can
you also handle the pressure if India do the same? and with the initial investment you need a huge money to start this or a good PR team to promote this
plan and to acquire investors.

[Adykingcity]

Friends, I have a plan to start a bitcoin exchange in india. I know that it requires some bank balance for developing the software .But for this, can somebody guide me what all paper works are required and what all legal formaties are required for the same. Is there anything that I need to submit to the government officials for this.

Especially make the exchange, after that do a seminar on bitcoin so that the exchange of bitcoin in india has a lot of devotees.
For website problems you can see the existing exchange coding, and you just change the appearance

[susila_bai]

Friends, I have a plan to start a bitcoin exchange in india. I know that it requires some bank balance for developing the software .But for this, can somebody guide me what all paper works are required and what all legal formaties are required for the same. Is there anything that I need to submit to the government officials for this.

Especially make the exchange, after that do a seminar on bitcoin so that the exchange of bitcoin in india has a lot of devotees.
For website problems you can see the existing exchange coding, and you just change the appearance

You mean to say to copy the other exchange work by modifying little bit and use it. But i think first you have to check with legal option in India because in future you have to be ready if India makes Bitcoins as illegal. Then first check with legal department and then proceed it.

[karan1498]

I dont think so youll need money in bank . Only you need is a bank account and a dedicated team with lots of knowledge in web applications  & blockchain technology .

[Adykingcity]

I dont think so youll need money in bank . Only you need is a bank account and a dedicated team with lots of knowledge in web applications  & blockchain technology .

You should first make the exchange, and do seminars in the big cities of India, I'm sure many other Indian people who will be interested in using bitcoin, we transact quickly with everyone around the world

[glowing10]

For some months till the Indian government does not clear the air if they will be allowing the bitcoin or will bring their own coin, I would suggest that you only collect the information and keep it . Do not start spending the money to build your site because there are already many sites which are reputed and juts in case if India does not allow bitcoin then you will be in total loss.

[savioroshan]

Guys for starting a bitcoin exchange, I dont think we need to own the coins. The platform should be like trading btc/inr. Its like sellers and buyers in one plaform. How will be that? For that you dont have to own coins. I mean just like waves platform. Just open an order and wait till it reaches the market price and when the order matches the market price, it will execute automatically.

[expertofexperts]

But btc dont seems to be legal till now in India. How come you are planning to launch a exchange for it?

[susila_bai]

But btc dont seems to be legal till now in India. How come you are planning to launch a exchange for it?

Ya it is true that it is not legal in india but even it is not illegal also, as their are bitcoin exchange where trading is going on their is no problem, what basis they are showing that no one knows.

[akshayns]

But btc dont seems to be legal till now in India. How come you are planning to launch a exchange for it?

Don't you think that this space is already saturated with many players?

[romiferns]

We need a bitcoin exchange with real time or live prices.  Most of the exchanges have set their own rates.

[onrise]

We need a bitcoin exchange with real time or live prices.  Most of the exchanges have set their own rates.

CS is one of the best where you can set your own prices and buy/sell accordingly. But fro past couple of months they had issue in handling too much of users at a one go due to which either their site used to be down, sometimes withdrawals and deposits takes couple of days to clear .

[Raj Malhotra]

Guys read this article published on 1-Dec-2017: https://inc42.com/buzz/arun-jaitley-bitcoin-cryptocurrency/

We Don't Recognize Bitcoin Or Other Cryptocurrency As Legal: Arun Jaitley