Can I be an exchanger and is it allowed?

[Portgas D]

I have a little capital, but I have a desire to start a business, namely to become an exchanger. I will open a service for people who may need a small gas fee to buy it from me, such as ETH and BNB or whatever coins consumers need. The plan, I will promote my business on social media.
I want to ask, is this kind of thing allowed in this forum?
Also, is there any way we can make our reputation good and be trusted by consumers?
Because definitely in starting this business there needs to be consumer trust in us.

Thank you

[1713953714]

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[1713953714]

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[1713953714]

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[1713953714]

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[un_rank]

I want to ask, is this kind of thing allowed in this forum?

Yes. There is a child board for Buying/Selling bitcoin on the forum, Currency exchange^[1].
It is totally legal on the forum.

Also, is there any way we can make our reputation good and be trusted by consumers?

Reputation can only be built by proving you are reputable to other members, you start small and show you are trustworthy to potential customers. You can start by working with a reputable escrow^[2] on the forum to make it safer for customers.

[1] https://bitcointalk.org/index.php?board=53.0
[2] https://bitcointalk.org/index.php?topic=276897.msg2955628#msg2955628

- Jay -

[decodx]

I have a little capital, but I have a desire to start a business, namely to become an exchanger. I will open a service for people who may need a small gas fee to buy it from me, such as ETH and BNB or whatever coins consumers need. The plan, I will promote my business on social media.

It's a brand new world out there. Plain and simple. And the more we all get involved, the better it will get. And the truth is, in this industry anyone can run a successful business. It just depends upon how committed you are in reaching your goals.

I want to ask, is this kind of thing allowed in this forum?

Yes, you can start your own cryptocurrency exchange business on this forum.

Also, is there any way we can make our reputation good and be trusted by consumers?
Because definitely in starting this business there needs to be consumer trust in us.

It would take a lot to build a reputation as trusted, so your best bet is to put out an excellent product that people want. Also, it is important to be transparent and responsible to your customers.

Ultimately, there is no guarantee that your exchange will be successful. There are many factors that can contribute to its success or failure, but with careful planning and research, you are more likely to succeed. The key to success is to focus on marketing and finding new customers but also make sure that you offer something that no one else is offering in the same niche. Also, do some research into all of the regulations that you will have to follow when dealing with cryptocurrencies because some countries have strict laws regarding this, and you can find yourself in a lot of trouble if you don't follow them. You may have to register as a money transmitter or even fall under KYC and AML regulations.

[LoyceMobile]

Bitcointalk gives you the freedom to do this. Local laws where you live may not though.

[Accardo]

If you've got some Capitals I think starting with search engine marketing is better than beginning on social media. The social media market has nice traffics, but it'll stop flowing the moment they is a bridge in your capital or you cannot maintain your ad campaign. I think beginning here and posting on some cryptocurrency related blogs about who you are and the services you provide will stand out and give you great rewards when you run out of capital and it'll keep bringing juice to you for years. When the profit is enough then you can decide to switch back to social media and run continues campaign, influencer marketing etc and you'd be surprised at the numerous amount of clients that'll come your way.

[nakamura12]

That is possible if you really want to do it but I will give you an advice about its risk when you want to become an exchanger. Set aside the risk I mentioned and just focus on safety first which you will surely have to spend money for escrow if you really want the transaction safe or the one who wants to exchange their crypto doesn't use your service unless you allow the user to use escrow. It is not that easy to gain people's trust when you want to start that business. About the risk, there is a chance that you might get scammed but there is a solution for that. An example of exchanger with a platform and very very low chances being scammed. Capital is also important. Maybe you'll do the same and here's the site for you to check https://fixedfloat.com/en/.

[Dunamisx]

I will promote my business on social media.
I want to ask, is this kind of thing allowed in this forum?

Nothing is bad with you handling your promotions on different platforms including here, but what needed to be taught is that you cannot just post a thread anyhow you want, each topic has category of the appropriate board it belongs , check the forum boards and their respective requirements for posting by the pinned threads yiu see there on those boards of interest, read them and post appropriately and as expected.

Also, is there any way we can make our reputation good and be trusted by consumers?

This is not a finished product that can be edible so using the word consumer here isn't fine enough, why not used customers or members instead, also as long as you does not scam people your reputation will be earned from the level of what you offer and how they have trusted your delivery services, so don't demand for reputation but rather earn it.

[sunsilk]

There's no problem in doing that plan of yours, it's a business but before you do that think of the local rules that may need to apply you some permits and might ask you for requirements when you're just starting or when it's already profitable.

The plan, I will promote my business on social media.

It may take time before you'll get some reputation but marketing it on social media is one of the typical strategies these days. When your business is booming or starting to get attention on social media, be wary of those imitators and scammers that will target you and your customers.

[Baofeng]

I have a little capital, but I have a desire to start a business, namely to become an exchanger. I will open a service for people who may need a small gas fee to buy it from me, such as ETH and BNB or whatever coins consumers need.

You can advertised it here: https://bitcointalk.org/index.php?board=53.0

The plan, I will promote my business on social media.

I want to ask, is this kind of thing allowed in this forum?

Of course, the more exposure for your business, the better.

Also, is there any way we can make our reputation good and be trusted by consumers?
Because definitely in starting this business there needs to be consumer trust in us.

Thank you

Well then do a good job satisfying your costumer/consumer. Be attentive and on time when dealing with others because for sure one challenge is the time zone.

So maybe you can gain the trust if you meet everyone's expectation of your services.

[Pandu Geddon]

I want to ask, is this kind of thing allowed in this forum?

nothing is stopping you, you are free to do so as long as you do not commit fraud in the forum.
if you want to build a reputation related to the business you want to build, I make sure to multiply your transactions honestly and kindly.
you should know, you are not the first person to build a business like that in forums. someone already told you the right place to do it. you can see more about businesses like yours to give a broader view.

[sheenshane]

I want to ask, is this kind of thing allowed in this forum?
Also, is there any way we can make our reputation good and be trusted by consumers?

Yes, it's allowed as people said above, this forum might be your stepping stone to achieving trust in the user or building your trust.
You can maybe gain your trust here while advertising your project, there are a lot of users here doing business while staying here in the forum, like lending services.  But of course, since you're a newbie here in the forum you need to be patient while running your service here.

Well, good luck with your business and be careful of a possible scams.

[Darker45]

That's allowed in the forum. I think you can also do that in various social media. You just have to make sure there is a way for transactions to be secured. Here in the forum, you can check the profiles of other users, especially their trust rating. With your current rank, it would either be that you will send the money first, provided the other party is a highly trusted member, or you will use a reputable escrow. I'm not sure what escrow mechanism you would safely use in dealing with clients through social media, though.

[Awaklara]

if you have started on social media or crypto communities outside the forum it will be easier for you. so you already have a customer. I see several people like you on social media.
You don't have to look for a reputation if you run your business well. that reputation will stick with you.
maybe you can start with people on your local board. as transactions of small amounts are usually limited to deposits and withdrawals from exchanges. if the transaction is with your local fiat, it will be easier.

I just pray that your business goes well.

[Solosanz]

Also, is there any way we can make our reputation good and be trusted by consumers?
Because definitely in starting this business there needs to be consumer trust in us.

Actually I want to support your business, but when I read this sentence it looks like you have a plan to scam after you've gain trust by customers. So I wouldn't tell you anything about trust and reputation in this forum.

If your business has a site and it's not only for exchange, you can create your thread on Service announcement board [1] If you're only offer currency exchange, you need to post it on Currency exchange board [2].

[1] https://bitcointalk.org/index.php?board=84.0
[2] https://bitcointalk.org/index.php?board=53.0

[Z390]

How experience are you? This is very important because users funds must be safe at all cost, if you aren't experienced hackers will pay you a visit, you will lost money and you will become a target by the law..

Running an exchange is one of the hardest thing to do in this space, do not listen to those making the whole thing look easy it's not, you will need to hire some experts too because you can't do the whole thing on your own.

Reputation you say? That will come on it's own, deliver first and people will start tristing your platform, good luck.

[Rruchi man]

Also, is there any way we can make our reputation good and be trusted by consumers?
Because definitely in starting this business there needs to be consumer trust in us.

When I started a business then alongside with a family member, reputation was the hardest thing to build for the business so it could keep getting patronage. But first before our services and products could start to market themselves, the first reputation that I noticed was considered before clients gave us jobs as a new business was the reputation of the people who have the business.
Are they by nature, people who keep to their word even before they started the business?, these are things that can be checked, either by extensive inquiry involving some sophisticated methods, or simply find out from people that know you. Reputation in business is built, build from the reputation you have as a good person when starting.

[Portgas D]

Also, is there any way we can make our reputation good and be trusted by consumers?
Because definitely in starting this business there needs to be consumer trust in us.

Actually I want to support your business, but when I read this sentence it looks like you have a plan to scam after you've gain trust by customers. So I wouldn't tell you anything about trust and reputation in this forum.

Yes, I understand very well when you suspect me of doing something I shouldn't have done, also because I see a lot of fraud committed by people, moreover I am a relatively new person in this space. I will prove when what I plan has been realized.


Thank you in advance, there are many lessons that I can take from here.

[The Cryptovator]

You are permitted, but keep in mind the risks associated with this business if you plan to do p2p here. It's also a matter of trust. I am relatively certain of that people will not trust you at first, and you will need to use an escrow service. However, if you can create an instant exchange, you may do well. Even so, in both cases, you must gain the users' trust. Another question is why people will use you instead of Binance or another exchange. There should be a convincing reason for someone to use your service.

[BIT-BENDER]

Well I understand what you mean but I think the language is wrong, you are probably talking about being a crypto-currency vendor.

Well for example just on my contact alone there are lots of Crypto-currency vendors and I think it’s so with many others, it’s a good thing but it fast becoming over populated, but if you are genuine and have good consumer base then it’s really not difficult.

[joniboini]

Yes, I understand very well when you suspect me of doing something I shouldn't have done, also because I see a lot of fraud committed by people, moreover I am a relatively new person in this space. I will prove when what I plan has been realized.

Building a reputation on this forum starts by staying longer, and doing small business first. If you just registered and make one or two posts, it will be difficult for others to trust you since nobody knows who you are, and there is no trade history either. Participate in forum discussions, make valuable posts for others, be helpful, etc.

Most scammers don't want to use escrow for any transaction, so you might want to use them for a start regardless of how much your deal is worth. There are many escrows with years of reputation here, so there risk is lower for both your client and yourself as mentioned above. Of course, you'll still get a negative reputation even if you use escrow if the deal/business itself is scammy.

If you're not going for P2P and instead build a website/platform where the user needs to trust you without any safety net, it would be incredibly difficult to get customers IMO. Unless you post more details about yourself or your business, nobody will use it since there are other reputable alternatives. You also need to be unique, if what you can offer is only a cheaper price, you'll probably struggle a lot in competing with other businesses. At the end of the day, you'll need to be flexible and react according to the situation, so good luck.