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Author Topic: How to build a cryptocurreny exchange?  (Read 175 times)
charlieyc2004
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April 16, 2018, 07:50:16 AM
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My team would like to build an exchange based in Singapore, and we're targeting the Asian market. However, we do not have the experience nor the capability to build one. Does anyone know how we could buy a software or have someone to develop for us? Thanks Cheesy
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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pompinkpomelo
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April 16, 2018, 08:09:06 AM
 #2

It is a huge undertaking with a lot of risk. Please make sure you really want to do it and understand hoe much it will take to pull off well. Smiley
Kogs
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April 16, 2018, 08:49:56 AM
 #3

Maybe you want to have a look at the following project I found by using google.

https://github.com/peatio/peatio

It's open source and based on ruby on rails.
Regarding their readme it's a full featured exchange which is already used for some exchanges, so at least it does look like something legit.

Just remember, that running an exchange is more than just installing a software on a web server....

  • You need developers who understand the source code to be able react fast in case of software bugs, or just to implement features you need but are not available in the current code base
  • You need security experts to secure your servers, do security audits or handle attacks to the server
  • You need people with knowledge how high availability servers need to be set up and maintained
  • You need people who maintain the full nodes of all cryptos you want to provide on the exchange
  • You need people to guarantee 24/7 support

And there are for sure lot more tasks which need to be done.

I don't know how experienced you team is, but if you don't have enough knowledge it's quite likely that you mess something up and you loose the funds of your customers.

Edit:
Just saw, that there is not much happening on github. The latest changes beside the readme are already 3 years old.
So as there is no ongoing maintenance of the software, if you plan to use it, you should really have your own development team to continue the project.
teddy5145
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April 16, 2018, 09:18:19 AM
 #4

Do you have any experience running business before?
While creating an exchange will cost you to hire a developers to maintain and upgrade the system when necessary, you will also need someone to run it from business side.
Singapore Central Bank's stance on Bitcoin are not favorable, this might be hard to have a legal exchange on Singapore.
https://www.coindesk.com/singapores-central-bank-urges-extreme-caution-on-bitcoin-investments/
You might want to hire a lawyer first and consult before developing the exchange, no green sign from Singapore's Government = No exchange
Unless you want to run illegal exchange and risk to be detained by the police that is.
Xynerise
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April 16, 2018, 09:20:51 AM
 #5

You're flirting with disaster.
Why would you want to do something which you haven't the faintest idea about?

You're talking about "buying a software" -- what if the person that coded the software has a backdoor in the software/script, how would you know?

Stick to what you know.

If you really want to go ahead with it then employ a competent Dev  team to code one for you.
If you want a good job, then it won't be cheap.
angry_runner
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April 16, 2018, 10:01:52 AM
 #6

did you check these treads?
https://bitcointalk.org/index.php?topic=3248276.0
https://bitcointalk.org/index.php?topic=3041635.0
also I saw in this threads that someone sell the soft https://bitcointalk.org/index.php?board=53.0
arunchain
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April 16, 2018, 01:10:29 PM
 #7

Hello

I just read the post and I have a team of experts with building Crypto Exchanges and can easily assist you with one.

So, please let me know your good time to initiate a call and to discuss about the requirements properly.

You can ping me at:
- Telegram: @arunsachdeva
- LinkedIn: https://www.linkedin.com/in/arunsachdeva/
Email: arun@revinfotech.com
Skype: mvteams1
onurgozupek
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April 16, 2018, 01:36:42 PM
 #8

If you don't know what to do trying to build and exchange is like being a bomb detonator without any knowledge. First, hire a technical advisor who can lead you in development at least can speak the language which software developers use. You don't want to pay for a system resource monster software and wait 6 months to finish coding and then discover it's not what you wanted...

In crypto me trust Smiley
https://brave.com/onu235
HeRetiK
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April 16, 2018, 02:08:58 PM
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 #9

You're flirting with disaster.
Why would you want to do something which you haven't the faintest idea about?

You're talking about "buying a software" -- what if the person that coded the software has a backdoor in the software/script, how would you know?

Stick to what you know.

If you really want to go ahead with it then employ a competent Dev  team to code one for you.
If you want a good job, then it won't be cheap.

This can't be stressed enough.

If you have to ask on a public forum on how to build a cryptocurrency exchange... you shouldn't build a cryptocurrency exchange.

Would you ask around how to create a bank? Because that's pretty much what you are trying to do. Except, with much larger risk involved.

Judging from the amount of "how do I get started with a cryptocurrency exchange?" threads lately I guess we can expect a new wave of hacked exchanges in 1-2 years caused by either misappropriation, glaring security issues or possibly both.

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April 16, 2018, 06:03:11 PM
 #10

The best solution is to find out a good app developer for your project.

tonylee1121
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April 17, 2018, 07:00:37 AM
 #11

Has anybody considered using a white label software at all?  Huh Huh

Any experience shared would be hugely appreciated!  Smiley Smiley

Cheers
crypto-bit
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April 17, 2018, 07:53:51 AM
 #12

Developing of cryptocurrencies exchange is not really easy as you think, You need large funds to run it, You must hire a good programmer that has knowledgeable in scripting and it should be trustworthy.Better search for an open forum that related to legalities of the exchanger that you want to build up.
Colorblind
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April 17, 2018, 08:05:46 AM
 #13

Has anybody considered using a white label software at all?  Huh Huh

Any experience shared would be hugely appreciated!  Smiley Smiley

Cheers

Professional software costs a fortune (rarely under 100 - 200 K). And you don't install it like you install windows - you need 3-4 trained professionals working full time for you to install and integrate this thing. So unless you have half a million to spend and tons of free time you shouldn't look in that direction.
lauranaura67
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April 17, 2018, 08:38:21 AM
 #14

If running an exchange was so easy, everybody would be running one. Basically, if you needed to ask about this on a public forum, you should really consider you aren't equipped enough to start such an enormous undertaking. Aside from huge investment and a lot of time, you need a kickass support team...which is the most common bottleneck on most exchanges.
campica
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April 17, 2018, 04:59:03 PM
 #15

I think that building a crypto exchange is pretty huge investment. First you need to have server for 10 000 people online in same time. Then you need to have a few people with  a lot free time to being support on your exhange. It's not project for everyone , even it looks like simple money earning from fee.
aitrading
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April 17, 2018, 05:50:09 PM
 #16

Good luck, guys!
Just make sure that you have a good tech expertise or cool app developer in the team Smiley
teddy5145
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April 17, 2018, 06:20:44 PM
 #17

I just read the post and I have a team of experts with building Crypto Exchanges
and your proof of work is?
Don't get me wrong, there's just too many newbies offering services claiming to be an expert, but in reality has zero experience before.

Developing of cryptocurrencies exchange is not really easy as you think, You need large funds to run it, You must hire a good programmer that has knowledgeable in scripting and it should be trustworthy.Better search for an open forum that related to legalities of the exchanger that you want to build up.
I don't think there's a forum exist for that...

Has anybody considered using a white label software at all?  Huh Huh

Any experience shared would be hugely appreciated!  Smiley Smiley

Cheers
Find any major exchange and see whether they using a bought software or custom made software, there's your answer Wink
Using a bought software for exchange is never safe, not only it costs a ton for the license, there might be a bug found on Exchange A that can be used on Exchange B.
All in all, it's just too risky.
suzanne5223
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April 17, 2018, 07:53:37 PM
 #18

You could use the peatio cause it been used by many to create exchange site, you could also try out WLOX Crypto Capital which all you need to do is just manage the software, marketing and provide support to your customers and you could contact people like Theymos, DannyHamilton for better advice.

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BitHodler
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April 17, 2018, 11:36:03 PM
 #19

You could use the peatio cause it been used by many to create exchange site, you could also try out WLOX Crypto Capital which all you need to do is just manage the software, marketing and provide support to your customers and you could contact people like Theymos, DannyHamilton for better advice.
What's the point of linking OP to theymos or DanyHamilton? Both individuals have far better, more productive things to do than pointing a noobie at what he shouldn't be doing. Others did so already.

People don't want to deal with incompetent amateur exchanges, but they want to create one themselves in the hope others will use it resulting in them making tons of money. It's nothing more than hypocrisy at best.

We need quality, not quantity. Try harder.
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April 18, 2018, 06:29:29 AM
 #20

My team would like to build an exchange based in Singapore, and we're targeting the Asian market. However, we do not have the experience nor the capability to build one. Does anyone know how we could buy a software or have someone to develop for us? Thanks Cheesy

In order to build a cryptocurrency exchange for that, you need a lot of capital because you need to secure people funds. People will send their coins on the basis of trust you built in the market, it is not an easy job without any team. Your team should be operational every time when an issue has arisen because you need to address those question.
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