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Author Topic: I am Planning to make my own Exchange  (Read 3351 times)
Blake_Last
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October 27, 2017, 05:02:16 AM
 #61

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?


You must first tell us your location before we can give you the right advice, because as you probably already know, every country has different laws regarding exchanges and some of our advice may not work or be effective for you, especially if the country in which you live has strict laws when it comes to such money market platform. But of course, this will depend on what kind of exchange you want to create. Do you want your exchange to be decentralized or centralized?

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abitCrypto
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October 27, 2017, 05:59:57 AM
 #62

If you trying to setup in Canada, you should better register your company and have conversation with attorney to figure out all the legal issues and disclaimers around the crypto exchange. You can follow up and review the working of https://poloniex.com.
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October 27, 2017, 02:08:19 PM
 #63

Wow, big time huh,I salute you sir and wish for you success.  I know it will take a lot of money to do so... If you can and able... why not... I support your endeavor. 

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October 28, 2017, 07:28:28 AM
 #64

I think that kind of idea is to difficult to start your own exchange you have to follow rules step by step and required all the requirements to be needed and foremost the trust of your target client,if you really pursue your goal try franchise a name of exchange maybe it works.
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October 29, 2017, 10:23:10 AM
 #65

I think you need to do some research to make sure that you can make a better one than the exist ones. If so, then just do it.
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October 29, 2017, 12:55:43 PM
 #66

First, consider these points

-What structure best for scalability and performance . (i.n. distributed or undistributed, how it works..etc in very detail)

-How to ensure the security of the exchange (mechanisms, algorithms..etc, in very detail).

-which programming languages to use for each part of the website(front end, backed and matching engine)

-recommend wallets or node clients most ideal for sending/receiving funds.( BTC, Bitcoin cash, LTC, ETH, ETC, Monero, DASH etc..)

-recommend useful JavaScript/php frameworks or libraries for the front-end(for such as price chart)

-anything good for building exchange...

-how many servers do you need to running this project smoothly

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October 29, 2017, 01:23:58 PM
 #67

i think difficult  ; Creating a site for exchange is not like other regular sites
Requires a team that has some experience In the field of exchange and wallets . And requires strong protection of user funds
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October 29, 2017, 01:55:16 PM
 #68

It is possible as long as you have capital or money. This kind of business is not easy it has more complication. Before you can establish this business be more practical you must have plan first. It also depend on the country you will create this kind of business. It is important to know the culture, tradition, kind of person you are dealing with kind of society and most of all the law. Do some background research so that you have a plan and you can be successful because we all know that converting money is in daily basis it means everyday convert to a certain currency is different. You must think several time before you decide.

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October 29, 2017, 04:02:01 PM
 #69

Hi! Let me ask you all these questions in relation to your plan of making your own exchange:

1) What exchange are you planning to do?
2) What is your goal in doing so?
3) What hardware or software do you plan to use?
4) How much money are you willing to pour in as your initial investment?

You have to let me know your answers so I can better well help you with your concerns.

But I bet you would need so much fiat to make this happen. Good luck!

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October 30, 2017, 05:42:27 AM
 #70

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?


Fist of all you need to convince us that you have what it takes to own one and what problem aew you trying to solve .. You know we human .. We are more particular about charges .. Its what is making us run away from bank .. It's overlooked in crypto sureency as a result of compouding interest of the value ... So in essesne who are your target customer .. What do you wanna offer us and lots of requirement like that is what you should first consider before even thinking of legal backing... Good luck... I hope this ma analysis help you.. Thanka
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October 30, 2017, 07:25:29 AM
 #71

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?

You should know your own reason why you have to start making your own exchange. It's just for business? You have seen a lot of opportunity? crypto is your fashion? There's a need to establish that in your place/country?

Will you be able to compete those big exchanges out there? These are the very few questions that came into my mind about making your own exchange. And with the legalities about building that business, it depends if your country isn't that exposing that much about crypto's it's your choice to register but as a business entity, you should have register it.

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October 30, 2017, 08:47:59 AM
 #72

I think that first of all you must care about your exchange trust level. If you will develop it with Smart Contract - make contract's code public, think about escrow and talk to people who is reputable and can become an advisor at your product.

That's the basics. You can do your own research on the project's developed already and conduct your SWAT analysis in compare with them Wink
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October 30, 2017, 09:23:04 AM
 #73

A lot of great advice in this thread, i feel a lot of what i'd research has already been said here.

I'd encourage you to control your Troll Box, it's really a window into the users of an exchange...yobit trollbox/coinexchange trollbox brings on some lols (at least coinexchange one seems admin'd but too many scrubs spamming in there still).
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October 31, 2017, 04:47:15 AM
 #74

For so many Altcoin exchange existing today I'm sure you will struggle to compete with them if your budget is short/lacking and maybe for your own good you need to brought up some millions of $ in budget so that you can battle them up interms of traffic making.

But good luck for your plans and making it is good but you should make sure that you don't have a plan to scam your traders since it's very awful act to see and many scam exchangers do that before.



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October 31, 2017, 10:13:23 AM
 #75

you need a unique offer for your customers. Maybe a stylish user-friendly design, 24-h support, big amount of currencies, low fees, fast exchange
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February 27, 2018, 01:59:38 PM
 #76

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?


I guess that one of the most convenient services for exchanging coins is that one which is fast and has best rate.
I discovered coinmonkey.io - it's a sort of exchanger which gets rates from major exchanges and you may choose what rate to use for exchage transaction.
And there is no registration needed, I don't even write e-mail for exchange!
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February 27, 2018, 11:34:02 PM
 #77

Buddy, this requires a lot of capital. It is not just a system that charges fee per transaction. You and your members must be insured against hacking attacks.

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February 27, 2018, 11:46:37 PM
 #78

Maybe a good idea from my point of view is to join a open source exchange project like openledger.
There you can learn a lot and support the community, which could also follow you later on.

I wish you good luck!

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February 28, 2018, 03:58:19 AM
 #79

I am making an exchange myself but it is slightly different.

Some ideas are taken from etherdelta and some are mine.

It is not a BTC to Fiat exchange of sort because that would require lot of back office stuff.

Mine one is P2P exchange and no funds are held in my wallet at any given time.

All my wallet gets is just the commission from the P2P trades.

Still there is a lot of scope for improvement as the Crypto world moves along but for as of now I am bit satisfied.

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February 28, 2018, 05:11:10 AM
 #80

Wow, big time huh,I salute you sir and wish for you success.  I know it will take a lot of money to do so... If you can and able... why not... I support your endeavor. 

It does require a lot of efforts and money to build a exchange provided it a genuine one and security is the top most priority and taken care of. Also building an exchange at this juncture is a huge risk too as already many established and well known exchange in the market do exists from years now. So it will be difficult for people to move to any other exchange unless they are facing some real big time trouble.

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