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Author Topic: Thinking of starting an exchange (UK based)  (Read 1216 times)
ashleyconnor
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September 02, 2011, 09:42:53 PM
 #1

Hello all,

I'll be incorporating here in the UK and setting up bank accounts in England to accept sterling and Ireland to accept Euros. There doesn't seem to be any easy way accept US dollars without substantial wire fees.

Payment gateways:
-BACS
-Faster Payments Transfer
-IBAN
-SWIFT
-Ukash
-Payoffline
-SMS

and any other irreversible payment methods that we come across.

If all goes well then I can open accounts in Singapore, Hong Kong and Thailand, having done business there before.

Any thoughts and suggestions are appreciated.

Ash
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Surawit
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September 02, 2011, 09:48:50 PM
 #2

To be honest, I would find it hard to trust any crypto-currency project lead by someone with a non-Japanese name. Have you considered changing your name by deed poll?

Possible suggestions:
Saruwatari Ayumu
Fujiwara Katsumi
Fukuda Kazuko
Yamaguchi Mayu

PROUD TO BE A SUPPORTER OF CAPITALISM
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ashleyconnor
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September 02, 2011, 09:59:49 PM
 #3

To be honest, I would find it hard to trust any crypto-currency project lead by someone with a non-Japanese name. Have you considered changing your name by deed poll?

Possible suggestions:
Saruwatari Ayumu
Fujiwara Katsumi
Fukuda Kazuko
Yamaguchi Mayu

My Irish ancestors would be appalled at such a move.
Vladimir
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September 02, 2011, 10:25:59 PM
 #4

ashleyconnor, go for it. But be aware that:

- It is a very competitive biz
- there is already well established competition that charge 0% fees
- the market in UK is rather small

On the other hand, if you have reserves and can maintain a decent service with no revenue for a year or two than eventually it could be a big winner.

-
ashleyconnor
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September 02, 2011, 10:46:50 PM
 #5

ashleyconnor, go for it. But be aware taht:

- It is a very competitive biz
- there is already well established competition that charge 0% fees
- the market in UK is rather small

On the other hand, if you have reserves and can maintain a decent service with no revenue for a year or two than eventually it could be a big winner.


Thanks for your input.

I've calculated the running costs and managed to keep the running costs to a minimum.

Europe is the target market no just the UK.

Thanks,

Ash
Striker
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September 02, 2011, 11:57:55 PM
 #6

Hi,

Thanks for your input.

I've calculated the running costs and managed to keep the running costs to a minimum.

Europe is the target market no just the UK.

Thanks,

Ash


If Europe is the target then please go ahead.
You must risk in order to gain in the future!
Also this is a still an embryonic market. It will grow enormously ...

We really need exchanges that target Europe and very fast.

Regards.
davout
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September 03, 2011, 08:06:37 AM
 #7

We really need exchanges that target Europe and very fast.
There's already bitcoin-central.net with a 0% trading fee

ashleyconnor
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September 03, 2011, 01:09:51 PM
 #8

We really need exchanges that target Europe and very fast.
There's already bitcoin-central.net with a 0% trading fee

Yes but free trades are ok when you have a 15 euro wire fee.

Our Irish bank doesn't charge for SEPA wires (non-priority) therefore we'll be charging 0.1% - 0.25% on trades and SEPA wires will be free.

I will not proceed to use the bitcoincentral.com domain name, as that would be needlessly confusing for consumers.

In fact if you want to purchase it I'll let it go for a reasonable sum.

Regards,

Ash
greyhawk
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September 03, 2011, 01:39:57 PM
 #9

To be honest, I would find it hard to trust any crypto-currency project lead by someone with a non-Japanese name. Have you considered changing your name by deed poll?

Possible suggestions:
Saruwatari Ayumu
Fujiwara Katsumi
Fukuda Kazuko
Yamaguchi Mayu

My Irish ancestors would be appalled at such a move.

You could go with Konaa Ashurii
ashleyconnor
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September 03, 2011, 01:42:43 PM
 #10

To be honest, I would find it hard to trust any crypto-currency project lead by someone with a non-Japanese name. Have you considered changing your name by deed poll?

Possible suggestions:
Saruwatari Ayumu
Fujiwara Katsumi
Fukuda Kazuko
Yamaguchi Mayu

My Irish ancestors would be appalled at such a move.

You could go with Konaa Ashurii

Do you have the Kanji for that?
phantomcircuit
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September 03, 2011, 07:56:10 PM
 #11

I should add that there is already a EUR exchange which has no commissions.

You face steep competition.
ashleyconnor
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September 03, 2011, 08:00:55 PM
 #12

I should add that there is already a EUR exchange which has no commissions.

You face steep competition.

I feel businesses are making money by other means. Nobody is operating at zero cost.

Regards,

Ash
Monster Tent
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December 28, 2012, 10:43:52 AM
 #13

I should add that there is already a EUR exchange which has no commissions.

You face steep competition.

Doesnt that give them motivation to steal their own wallet ?

nobbynobbynoob
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December 28, 2012, 10:58:57 AM
 #14

- the market in UK is rather small

It will get bigger after low-commission convenient UK purchase options become available. The new wire feature at blockchain.info is okay but it's only for converting loose change, nothing more. I guess real money still has to get wired to Mt Gox for the time being...

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owenmichaels
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December 28, 2012, 06:00:53 PM
 #15


That's a good idea...
DarkLegacy
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December 30, 2012, 10:54:50 PM
 #16

This would be so awesome, you should do it!

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DealBreaker
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December 31, 2012, 01:30:56 AM
 #17

y4
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