Help - Bitcoin Exchanges Functionality - Degree

[General_A]

Hi All,

I was just wondering what functionalities/features you think are necessary for a bitcoin exchange? Any features that exchanges are lacking that you think could enhance the experience? This is a broad question I know - so let me explain.

I am currently doing a business degree which has set us a Christmas holiday project. I have to simulate setting up an online business and I decided to simulate one running an online bitcoin exchange.

I am at the market research stage. I have covered most aspects just I haven't asked the consumer group stage.

Also I was wondering do you prefur

1) Simplicity or complexity?
2) A business which you envisions to be more like your bank (traditional) or more to an online tech company (modern)?

Any guidance is very much appreciated,

James

[daybyter]

Well, there are several aspects.

- How easy is it for users to get money (usd, euro whatever) into you exchange, so they can buy coins? That's the biggest problem at the moment, I guess. Over here most banks block bitcoin transactions. Paypal has the chargeback issue.

- Same problem for FIAT withdrawals.

- Do you want to attract daytraders? Means, you need advanced features, like graphswith  indicators etc.

- API is another aspect. A good API means, that you can attract bot coders. Bots usually make a lot of trades => you make more money from trade fees. Some websites can also fetch market data to provide longterm charts.