How to start a bitcoin exchange

[tharun232]

Hello,
I'm interested in starting a bitcoin exchange and I need help.
What is cost involved in starting a exchange.
Which is better to buy a withe label exchange or to develop my own.
If a white label please refer me some.

[starsnshamrocks]

Certainly interesting to know, but how come you are asking yourself that question. What is your background? Have you got any experience in that field? Are you aware of the safety features an exchange would need for it to work properly and not be run over by a smart hacker? Seems like you just ask this  .. as it just popped up in your mind.   

Hello,
I'm interested in starting a bitcoin exchange and I need help.
What is cost involved in starting a exchange.
Which is better to buy a withe label exchange or to develop my own.
If a white label please refer me some.

[mk4]

Boi, tell you what. If you're asking us here on how to start a bitcoin exchange, then chances are, you're not qualified and or knowledgeable enough to start one yourself.

Yes, exchanges are definitely good money when successful enough, but saying that starting and running an exchange is "difficult" is a huge understatement. Even the biggest exchange gets hacked.

[apityeh71]

To development and running crypto exchange,  you should be has professional team that understand how to create it,  to promote and to make strong feature of security,  because the big problem in crypto exchange  is get hacked. Is not possible to manage exchange by yourself.

[Baofeng]

Hello,
I'm interested in starting a bitcoin exchange and I need help.
What is cost involved in starting a exchange.
Which is better to buy a withe label exchange or to develop my own.
If a white label please refer me some.

Do you have the budget or the time to have your own exchanges? It takes a lot of responsibility as you all know that exchanges are target of the hackers. If you don't have the technical skills then you have to hire someone to developed it. And then the problem just started, you need to get someone to be your support, it means 24x7 guys that are technically skills not just the usual bots or something. And then there's providing security as well. So there's a lot from behind, is all I'm saying, not just capital.

[Oilacris]

Hello,
I'm interested in starting a bitcoin exchange and I need help.
What is cost involved in starting a exchange.
Which is better to buy a withe label exchange or to develop my own.
If a white label please refer me some.

So, you plan to be the owner?

If you don't have sufficient knowledge then its sad to tell that it would really be hard for you to start up an exchange.Same as others said that exchangers
are quite profitable businesses but building and gaining reputation would be the hardest part.Lots of things to consider or simply it is complex.

[Ridwan Fauzi]

To make an exchange I think it's not just about money, you have to know the function and deep knowledge about exchange. In fact, I am sure that when you know the knowledge of how exchange works and how to make an exchange, then you can get rid of your money problems. You can find someone who has a lot of capital to build an exchange, provided you are obliged to convince him of your capacity or even your expertise to create an exchange.

[henrythebest]

contact me if you really are interested this, our company has a mature cryptocurrency exchange system for sell.

[wuvdoll]

If you can't decide between how to start than you probably should not. First of all it takes a lot of effort to start one and you need to know a bit of coding, in case you hire someone to build you one you are not sure how safe it is both from the developer who can build a backdoor to it and from outside hacking attempts.

If you buy or rent from somewhere else you are both not getting as much profit as you can and also not sure if the place you bought or rented from is either trying to steal or has weakness that could be used.

Basically, anything that you yourself do not develop will be risky and that is not acceptable, plus you need to have a lot of money to advertise it as well, look at all the tens of exchanges that basically has no capital for advertisements, they get buried under hundreds of places that advertise constantly.

[hulla]

Hello,
I'm interested in starting a bitcoin exchange and I need help.
What is cost involved in starting a exchange.
Which is better to buy a withe label exchange or to develop my own.
If a white label please refer me some.

Starting your own crypto exchange is not easy you need to have tech knowledge, do a lot of research and be careful when it come to team selection. With that been said, white label exchange is cool but you be careful either when you want to select one either to avoid the vulnerable of your exchange site and you could check out peatio.

[LeGaulois]

If you don't have sufficient knowledge then its sad to tell that it would really be hard for you to start up an exchange

You can start any business no matter if you have not any knowledge. It's all matter to have the right connections in your circle and hiring the right people. Do you think Bill Gates knows enough to build something like he did? Nope. Even if you can't cook, you can still open a 3-star restaurant if you hire the right staff

[mersal]

If you don't have sufficient knowledge then its sad to tell that it would really be hard for you to start up an exchange

You can start any business no matter if you have not any knowledge. It's all matter to have the right connections in your circle and hiring the right people. Do you think Bill Gates knows enough to build something like he did? Nope. Even if you can't cook, you can still open a 3-star restaurant if you hire the right staff

Yes it is simple to start the exchange using Bitcoin the first process you need to buy some Bitcoin for your investment then holding for sometimes and exchange it to good site it will be the process that you need to follow but technically there are lots of tricks are available to get more income.

[stadus]

Most businessmen start from small, but your different, you beat them as you start from big.
Wow, did you consider your finances, and do you have an idea the capital requirement on running a big exchange?
I know you can't do it alone that's why you need some advise but to I guess you better be finding people who are good in crypto that you can talk in personal so they can offer some help, that if you are really serious.

[btc_angela]

Most businessmen start from small, but your different, you beat them as you start from big.
Wow, did you consider your finances, and do you have an idea the capital requirement on running a big exchange?
I know you can't do it alone that's why you need some advise but to I guess you better be finding people who are good in crypto that you can talk in personal so they can offer some help, that if you are really serious.

Correct, at least people he really knows personally so that the chances of being successful multiplied. However, if you read between the lines, it seems that he is just throwing himself and will probably lose money in the business. He is seeking help from zero to ground up. Not a good trait specially if you're planning to create a big business like crypto currency exchange.

[Viscore]

Most businessmen start from small, but your different, you beat them as you start from big.
Wow, did you consider your finances, and do you have an idea the capital requirement on running a big exchange?
I know you can't do it alone that's why you need some advise but to I guess you better be finding people who are good in crypto that you can talk in personal so they can offer some help, that if you are really serious.

Correct, at least people he really knows personally so that the chances of being successful multiplied. However, if you read between the lines, it seems that he is just throwing himself and will probably lose money in the business. He is seeking help from zero to ground up. Not a good trait specially if you're planning to create a big business like crypto currency exchange.

OP is newbie, probably seeking for help from different forum to find good advise on his plan to run a big exchange.
If only I can talk to CZ of Binance, I will ask on how he started his business to be this big now, I'd share it to OP of course since I don't have the capacity to start this kind of business in terms of financial.

To OP- make CZ your inspiration because he is the guy who started from From Zero To Crypto Billionaire In Under A Year according to.
https://www.forbes.com/sites/pamelaambler/2018/02/07/changpeng-zhao-binance-exchange-crypto-cryptocurrency/#2b2681031eee

[naruto7676]

Most businessmen start from small, but your different, you beat them as you start from big.
Wow, did you consider your finances, and do you have an idea the capital requirement on running a big exchange?
I know you can't do it alone that's why you need some advise but to I guess you better be finding people who are good in crypto that you can talk in personal so they can offer some help, that if you are really serious.

That's correct which is small business that start from last year of 2017 I always see that binance is not the most #1 in coinmarketcap and starting of bitcoin the price is not bigger what we have now start in 0.01$ per bitcoin in the past.

[niel96]

Most businessmen start from small, but your different, you beat them as you start from big.
Wow, did you consider your finances, and do you have an idea the capital requirement on running a big exchange?
I know you can't do it alone that's why you need some advise but to I guess you better be finding people who are good in crypto that you can talk in personal so they can offer some help, that if you are really serious.

Correct, at least people he really knows personally so that the chances of being successful multiplied. However, if you read between the lines, it seems that he is just throwing himself and will probably lose money in the business. He is seeking help from zero to ground up. Not a good trait specially if you're planning to create a big business like crypto currency exchange.

OP is newbie, probably seeking for help from different forum to find good advise on his plan to run a big exchange.
If only I can talk to CZ of Binance, I will ask on how he started his business to be this big now, I'd share it to OP of course since I don't have the capacity to start this kind of business in terms of financial.

To OP- make CZ your inspiration because he is the guy who started from From Zero To Crypto Billionaire In Under A Year according to.
https://www.forbes.com/sites/pamelaambler/2018/02/07/changpeng-zhao-binance-exchange-crypto-cryptocurrency/#2b2681031eee

He didn't start from zero. He was already very good at building trading systems and exchanges since he used to work for high frequency traders as a programmer. So he already had to right knowledge and resources (programmers earn a lot) to start Binance.

[ancafe]

well, of course this requires so much preparation. this is not something that can be started only by having $ 10k. well, even some companies need to make ICO to make bitcoin loggers. besides, there are many things that need to be considered such as defense, storage, systems, and people who are in it must have experience. well, and I think the system is not much different from the bank. this is not something that can be made only with desire.

[freedomgo]

well, of course this requires so much preparation. this is not something that can be started only by having $ 10k. well, even some companies need to make ICO to make bitcoin loggers. besides, there are many things that need to be considered such as defense, storage, systems, and people who are in it must have experience. well, and I think the system is not much different from the bank. this is not something that can be made only with desire.

If OP does not have millions of dollars to start but has a good platform, he can start with crowd funding, investors will look into the platform you offer and they buy shares through ICO if they are impress. Starting with your own money is really, unless you have something new to offer, but we are in the advance market where technology is highly appreciated, you should remember that.

[el kaka22]

I'm interested in starting a bitcoin exchange and I need help.
What is cost involved in starting a exchange.
Which is better to buy a withe label exchange or to develop my own.
If a white label please refer me some.

Normally, that is what people do, look at binance, do you think they had a single dollar to their name when they started ?
I mean of course they had to get some funding to secure funding for sure but considering they have 2 billion dollars of volume everyday (even at 0.05% trade fee that is about a million dollars a day, 365 million dollar operation to say the least before taxes) they did not had any money at all remotely close to building a company that big.

This is an exchange that basically had just a bit of money to promote and get themselves heard and used that effort and talent to just get funding, after the funding they became the biggest exchange in the world.

Anyone can try to do that, not like many will succeed, probably all who try will fail but at the end of the day one or two of them can became top 50 which is more money than many of us has ever seen, let alone a million a day, if I can profit 1 thousand dollars a day that is more money than I have ever made all of my life combined in a year (365 thousand dollars) so there is no point of not trying if you have the right tools and people with you.