New exchange wishes to get some advises.(Demo is ready on site)

[foodbig]

I am going to start a digital asset exchange just like binance, can I have some suggestion about anything such as how to attract users, how to improve users experience or how to administrate the system from you guys? Wish to communicate with you.  

our website has just online as follow: www.bitpaction.com, and there is our whitepaper link on the website. Hope you guys could take a look and tell me what is you feeling about this. Thanks!

And now the demo of the exchange is available, hope you guys could come and experience then tell us how do you think, thanks!

[khanof89]

If you are the only coder for the exchange I suggest you not to do it.

[foodbig]

If you are the only coder for the exchange I suggest you not to do it.

obviously there is a team for this project the exchange would be online in few weeks~

[arwin100]

If you are the only coder for the exchange I suggest you not to do it.

obviously there is a team for this project the exchange would be online in few weeks~

Well that would be good but try to ride with good features and new promotions so that your exchanger site will became popular, also try to do some poll so that you could get the pulse of the people on what kind of features or ways of coin addition will your site have so that you can gather much attention to the people who seeks their coin to be added on new exchange come here.

[foodbig]

Well that would be good but try to ride with good features and new promotions so that your exchanger site will became popular, also try to do some poll so that you could get the pulse of the people on what kind of features or ways of coin addition will your site have so that you can gather much attention to the people who seeks their coin to be added on new exchange come here.
[/quote]

That very helpful! We would work on it right away. Hope you would come to experience  and offer further advises when our exchange get online. Have a nice day~~

[cynical]

my first question is WHY?
there are so many exchanges out there already, what are you planning to offer that these dont have already?
The biggest drawback for me that I can see is that for new people looking to get into crypto,
they first have to buy Bitcoin with FIAT through an exchange like Coinbase for example.
Then they have to transfer that to an exchange with a lot of listings like Binance,
and this is an extra cost and a little tedious, I know I found it confusing at the start.
 

[Hoytico]

I am going to start a digital asset exchange just like binance, can I have some suggestion about anything such as how to attract users, how to improve users experience or how to administrate the system from you guys? Wish to communicate with you. 

There is always room for more exchanges, the only question is what is your go-to-market strategy. Do you intend to go Fiat/Crypto(Coinbase/Kraken) or Crypto/Crypto(Binance/Polo) or some new kind of exchange?

Touching fiat means you can access retail market directly, but you will be bound by the laws of man. Keeping Crypto/Crypto like Binance makes scaling up much easier, less compliance hurdles, and trade almost anything. What is it you want?

My personal opinion is to build an exchange of exchange (like a fund of fund or a broker of broker) if you can offer the client the ability to pick which exchange it buys from you would open a whole new world. Give it a thought or PM me.

[foodbig]

my first question is WHY?
there are so many exchanges out there already, what are you planning to offer that these dont have already?
The biggest drawback for me that I can see is that for new people looking to get into crypto,
they first have to buy Bitcoin with FIAT through an exchange like Coinbase for example.
Then they have to transfer that to an exchange with a lot of listings like Binance,
and this is an extra cost and a little tedious, I know I found it confusing at the start.
 

Because we think lots of those existed exchanges have bad user experience, it makes our project has a slightly chance to beat them and we'd like to give a shot. Actually I think our biggest challenge is not technical but to convince people believe this is a reliable exchange and willing to come. As you metioned about get Bitcoin at one exchange and transfer to another exchange to trade, I guess because most big exchange would avoid exchange between various electronic currencies and legal tender to reduce legal risks.

[cipher-x_09]

Why not try doing some survey like asking questions which features and propaganda people prefer more because the best source of getting customer satisfaction is through conducting a survey and talking to them. The second is study which trend suits more that will help you attract your client try reading some marketing strategy on the internet.

[foodbig]

I am going to start a digital asset exchange just like binance, can I have some suggestion about anything such as how to attract users, how to improve users experience or how to administrate the system from you guys? Wish to communicate with you. 

There is always room for more exchanges, the only question is what is your go-to-market strategy. Do you intend to go Fiat/Crypto(Coinbase/Kraken) or Crypto/Crypto(Binance/Polo) or some new kind of exchange?

Touching fiat means you can access retail market directly, but you will be bound by the laws of man. Keeping Crypto/Crypto like Binance makes scaling up much easier, less compliance hurdles, and trade almost anything. What is it you want?

My personal opinion is to build an exchange of exchange (like a fund of fund or a broker of broker) if you can offer the client the ability to pick which exchange it buys from you would open a whole new world. Give it a thought or PM me.

that is quite a creative thought! I think I need some time to think about this, I would like to have a further discuss about it! As for the kind of exchange, I think Crypto/Crypto is more likely, because it could avoid much troubles. Thanks for you opinion, I start to think about it right now...

[foodbig]

Why not try doing some survey like asking questions which features and propaganda people prefer more because the best source of getting customer satisfaction is through conducting a survey and talking to them. The second is study which trend suits more that will help you attract your client try reading some marketing strategy on the internet.

Because I think survey may limit people's mind, I wish I could get advise at all the aspects of exchange, any opinion would be considered seriously and marketing strategies are turly important that we would release carefully in a few days. Thank you very much! Wish you have a good day.

[foodbig]

our homepage will online, hope you like it.

[onnz423]

Well the most obvious way to attract users are the following;

1. Lower exchange fees (less than 0.25%)
2. Tiered exchange fees, e.g. 0.25% for low volume, 0.15% for mid volume and 0.1% for high volume
3. Be the first to accept new and promising coins
4. Excellent customer support, this is a major problem for most large exchanges as they take weeks to respond to often important messages.
5. Anonymous, simple registration

Good luck, I hope it works out for you.

[bhadz]

The problem that I can see with few exchanges is that they are already crowded and they can't answer their customers ticket at the same time. You need to consider this when your exchange starts to grow or while it's still young before it becomes popular. It may not be easy but if ever you'll get to that point stick to customer service. We traders want to have a good communication with the exchange rep / admins when it comes to your business concerns since we are the ones who are using your system.

[burner2014]

Setting up is not an easy thing to do, it will take extra efforts to see that platform has a solid security structure and of course make it a friendly user to interface and a fast service that can serve both mobile and desktop, it also has to be intregrated with multiple blockchains. You need to fine one of the great developer who would stay ahead and would be willing to adopt the latest techonologies for exchange.

[foodbig]

Well the most obvious way to attract users are the following;

1. Lower exchange fees (less than 0.25%)
2. Tiered exchange fees, e.g. 0.25% for low volume, 0.15% for mid volume and 0.1% for high volume
3. Be the first to accept new and promising coins
4. Excellent customer support, this is a major problem for most large exchanges as they take weeks to respond to often important messages.
5. Anonymous, simple registration

Good luck, I hope it works out for you.

thanks for you encouragement! I understand user experience is very important and I know most existed exchanges are not so good at user experience, not only respond too slow. As for the exchange fees, I am sure we would offer a scheme that acceptable for everyone. Our exchange will be online at earlier March, I hope you could come to experience and tell me your feeling at then.

[foodbig]

The problem that I can see with few exchanges is that they are already crowded and they can't answer their customers ticket at the same time. You need to consider this when your exchange starts to grow or while it's still young before it becomes popular. It may not be easy but if ever you'll get to that point stick to customer service. We traders want to have a good communication with the exchange rep / admins when it comes to your business concerns since we are the ones who are using your system.

I know this is the most important thing for an exchange, we are testing the system, especially the part you've mentioned continuously right now because we know this is the way we could beat our competitors. For that reason we have to make the system perfect, it is really a significant issue for our exchange. Hope you could come and try when our exchange get online at early march, then tell me what is our advantages and weaknesses to improve our exchange.

[foodbig]

Setting up is not an easy thing to do, it will take extra efforts to see that platform has a solid security structure and of course make it a friendly user to interface and a fast service that can serve both mobile and desktop, it also has to be intregrated with multiple blockchains. You need to fine one of the great developer who would stay ahead and would be willing to adopt the latest techonologies for exchange.

Thanks for you kindly advise! Truly it is not an easy case our team have work on this project for quite a long time, they are all very good men, I believe they did their best to make things right. I sinceremy invitate you to come our exchange to have a try when it get online, to see if it could make you happy as we expect

[Fbo62]

maybe you can have ubiq on your exchange as bittrex only has it  would be interesting probably people would buy it from your exchange

[RENTMONEY]

1. Offer a bonus for signing up.

2. Offer an affiliate program.

3. Profit