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Author Topic: CEX Script or source code using API  (Read 175 times)
LordSamuel
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June 20, 2022, 09:31:57 AM
 #1

Hello,

Can someone guide me to find (buy) a legit source code or while label centralized crypto exchange service using Binance or Houbi API?
I can see there are lots of Indian companies who offer such a script but I had a terrible experience with Indian companies and don't want to buy from them.

Thank you
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ETFbitcoin
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June 20, 2022, 11:55:36 AM
 #2

CEX as in centralized exchange? While it's hard to find one which use specific API, you could find few open source CEX on GitHub. Here are few random example,
https://github.com/GMX9/Crypto-Exchange-PHP
https://github.com/rotki/rotki
https://github.com/openware/peatio

But if you do not have good security, server administration and other specialization (for running CEX), i expect your CEX would be hacked or down shortly after you launch it.

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June 20, 2022, 12:13:01 PM
 #3

You don't want scripts, because those are a regulatory nightmare. You might be ordered to do an action, that is not supported by the script unless you change its code (and of course you do not know how to program it).

So you would want to buy source code in that case, but its rare to find good, working exchange codes because most vendors are so bad at designing them in the first place.

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June 20, 2022, 12:48:18 PM
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You don't want scripts, because those are a regulatory nightmare. You might be ordered to do an action, that is not supported by the script unless you change its code (and of course you do not know how to program it).

You could always hire someone to change the code. But i expect it'll be difficult and expensive to find experienced people who currently available.

So you would want to buy source code in that case, but its rare to find good, working exchange codes because most vendors are so bad at designing them in the first place.

Or worse, it's designed to be "vendor lock-in".

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June 20, 2022, 12:52:46 PM
 #5

You don't want scripts, because those are a regulatory nightmare. You might be ordered to do an action, that is not supported by the script unless you change its code (and of course you do not know how to program it).

You could always hire someone to change the code. But i expect it'll be difficult and expensive to find experienced people who currently available.

So you would want to buy source code in that case, but its rare to find good, working exchange codes because most vendors are so bad at designing them in the first place.

Or worse, it's designed to be "vendor lock-in".

That's exactly is my problem with Indian companies
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June 20, 2022, 04:43:01 PM
 #6

Hello,

Can someone guide me to find (buy) a legit source code or while label centralized crypto exchange service using Binance or Houbi API?

If you are looking for software that trades for you, you are making a mistake, Indian or not.

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LordSamuel
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June 20, 2022, 07:40:30 PM
 #7

Hello,

Can someone guide me to find (buy) a legit source code or while label centralized crypto exchange service using Binance or Houbi API?

If you are looking for software that trades for you, you are making a mistake, Indian or not.

What I'm looking for is to provide a new crypto exchange website
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June 20, 2022, 09:59:29 PM
Merited by hugeblack (4), NotATether (3), ETFbitcoin (2), Pmalek (1), n0nce (1)
 #8

Hello,

Can someone guide me to find (buy) a legit source code or while label centralized crypto exchange service using Binance or Houbi API?

If you are looking for software that trades for you, you are making a mistake, Indian or not.

What I'm looking for is to provide a new crypto exchange website
This will be hard without having some serious expertise yourself or big amount of capital to hire competent people. Running an exchange isn’t a one time buy, it takes constant work to keep it secure and up and running all the time, this is serious software that can’t afford many mistakes, so you will need a team to handle this regardless.

Your best bet would probably be networking with people that are interested in this and competent enough to pull this off correctly(rare). Go trough this plan again and ask yourself how you will be able to compete with established exchanges in terms of security, reliability,fees, UX and volume. It’s not impossible, but it needs good planning and smart decisions to pull off.

Even if you find a one time buy, i would advise against it, because you might regret it later when something goes wrong and not being able to fix it yourself. Also you will custody other peoples money so be careful, this is a prime target for hackers or getting sued when something goes wrong and you didn’t secure it well enough.

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June 21, 2022, 10:46:16 PM
 #9

Using other exchange's API to fulfill trades on your own exchange seems like an impossible idea  Huh

Your API access will be limited within first minute of operation even if there are only 50 users on your exchange lol
Then there's the question of latency. You can't use multiple exchange's API without facing higher latency on most of them. Given how volatile crypto market is, most of your orders may not even get fulfilled due to added latency.

Let's forget about the technical viability of this method and talk about the financial aspect.
How will you make any profit on it?? Will you be charging double fees on every trade? Because you will have to pay a fee to those exchange too on each trade. If yes, then why will anyone use your exchange??

What's your endgame bro

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n0nce
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June 23, 2022, 12:30:17 AM
Merited by ETFbitcoin (1), tadamichi (1)
 #10

Your best bet would probably be networking with people that are interested in this and competent enough to pull this off correctly(rare). Go trough this plan again and ask yourself how you will be able to compete with established exchanges in terms of security, reliability,fees, UX and volume. It’s not impossible, but it needs good planning and smart decisions to pull off.
Honestly, we don't need another centralized exchange in the first place; after all dozens exist already. It will also be impossible to enter this market anyway; the established giants can easily replicate any 'selling point' a new exchange is going to bring up, and kill it instantly. Be it sidechains, second or third layer support, or lower fees.

There's one thing they can't do: be KYC-less and decentralized. I believe if someone wants to tackle a task as large as creating a whole new CEX, they should seriously consider building a DEX instead, to get more attention, users and competition in this field. Decentralized exchanges are much better for Bitcoin and all of its users, but that's a different topic. Just wanted to get this idea out there.

Regarding the original question: you can't just buy some 'script or source code' and throw together an exchange like that. With the amount of money you'll need for personnel, lawyers, regulatory stuff and server hardware, getting someone to build you the software will be the last / least of your worries. Sort out the rest before; a 'script' alone won't help you much, buddy.

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June 23, 2022, 12:56:06 AM
 #11

So are you planning to use API from Huobi or Binance?
I don't know if it would be a good idea because of the charge fees if the exchange you are planning to build is buying and selling then withdrawal fees from the Binance exchange is currently expensive like Bitcoin and ETH except on other coins.

If you don't have much knowledge in programming and it is for small business purposes in your local area. I suggest you can try to build and simple exchange site with WordPress and then use BTCpayserver plugin for Woocommerce payments there is two option the legacy and the v2 BTCpayserver for WP Woocommerce. Then use a free theme builder like Elementor to design your website. All funds are directly from your wallet so you need to host BTCpayserver on your own and if you want to accept other coins then you can add more but you need to host them on your own. Guides must be in BTCpayserver documentation.

Here's a sample exchange design that I found on Google using elementor theme builder





The advantage is you don't need to hire someone to build an exchange script and you are far from scammers.


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June 23, 2022, 12:20:28 PM
 #12

Your best bet would probably be networking with people that are interested in this and competent enough to pull this off correctly(rare). Go trough this plan again and ask yourself how you will be able to compete with established exchanges in terms of security, reliability,fees, UX and volume. It’s not impossible, but it needs good planning and smart decisions to pull off.
Honestly, we don't need another centralized exchange in the first place; after all dozens exist already. It will also be impossible to enter this market anyway; the established giants can easily replicate any 'selling point' a new exchange is going to bring up, and kill it instantly. Be it sidechains, second or third layer support, or lower fees.

I agree, unless we're talking on national range. I bet there are few country which only have <=2 local exchange since CMC mention there are only 311 known CEX[1]. In such case, it's still possible to enter the market.

Regarding the original question: you can't just buy some 'script or source code' and throw together an exchange like that. With the amount of money you'll need for personnel, lawyers, regulatory stuff and server hardware, getting someone to build you the software will be the last / least of your worries. Sort out the rest before; a 'script' alone won't help you much, buddy.

And you remind me some country also require cryptocurrency exchange to have some amount of reserve money.

[1] https://coinmarketcap.com/rankings/exchanges/

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June 23, 2022, 01:12:59 PM
 #13

I agree, unless we're talking on national range. I bet there are few country which only have <=2 local exchange since CMC mention there are only 311 known CEX[1]. In such case, it's still possible to enter the market.
I don't see the necessity of a 'local' centralized exchange (besides the fact that I question the need for centralized exchanges for 99.99% of their users in the first place).

And you remind me some country also require cryptocurrency exchange to have some amount of reserve money.
How is a country's money reserve tied to an exchange business being located in that same country?

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June 23, 2022, 01:26:28 PM
 #14

I agree, unless we're talking on national range. I bet there are few country which only have <=2 local exchange since CMC mention there are only 311 known CEX[1]. In such case, it's still possible to enter the market.
I don't see the necessity of a 'local' centralized exchange (besides the fact that I question the need for centralized exchanges for 99.99% of their users in the first place).

For few people, there are some necessary feature such as deposit/withdraw to local bank and regional language.

And you remind me some country also require cryptocurrency exchange to have some amount of reserve money.
How is a country's money reserve tied to an exchange business being located in that same country?

That's not what i meant. Basically i mean some government force exchange to have spare money. In my country, it's in form of minimum capital/fund and equity.

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