Crypto Exchange Business

[its320]

Hello, im new to the whole crypto game but ive stumbled upon an business idea for a crypto exchange app for everyday transactions as apple pay. I have a lot more of this figured out but need help filling in some holes. Anyone with insight into crypto exchange or app development interested in seeing what im cooking up private message me.

[1715152974]

1715152974

[Pmalek]

Anyone with insight into crypto exchange or app development interested in seeing what im cooking up private message me.

Why not share your ideas publicly instead? Tell the community what you want to do and how you want to do it. That way you can get feedback and insights from people who are experienced in app and website development. Maybe your idea is good but could become even better when it's discussed. Maybe it's awful and will never work but the feedback you receive could make you take a different path.

[JanEmil]

I have helped an exchange to start up and worked for them 3 years. Was the best crypto job I ever had. Would love to help a new project.

[its320]

I would love to just post my business plan on here to get peoples advice. The problem with that is that my business plan is unique and can be easily be launched by someone with more experienced than me. Im all for being transparent and sharing innovating  ideas to the community but I wouldn't appreciate someone just taking it and claiming its theirs. I hope yall understand and if you're curious about it just message me ill be happy to share my business plan.

[Mr. Magkaisa]

  - If that's what you're thinking, mate, why don't you at least tell me the idea you have about the crypto exchange? So what kind is it? is it centralized or decentralized?

And these are some of the guidelines that you can follow if you want to create your crypto exchange in this industry,

Start Your Crypto Exchange

1. Get legal counsel to ensure licensing requirements are met.
2. Get venture capital.
3. Find a technology solution provider.
4. Connect your exchange with others for additional liquidity.
5. Partner with a payment processor.
6. Implement security best practices.
7. Go live through beta testing.
8. Start the marketing and PR campaign.
9. Be careful about providing customer support.
10. Maintain a legal team for ongoing compliance.

source: https://www.modulusfe.com/products/data-servers-exchanges/how-to-start-a-bitcoin-exchange-business/

[Pmalek]

I would love to just post my business plan on here to get peoples advice. The problem with that is that my business plan is unique and can be easily be launched by someone with more experienced than me. Im all for being transparent and sharing innovating  ideas to the community but I wouldn't appreciate someone just taking it and claiming its theirs.

I guess that makes sense in some way. But at least you can give some hints without explaining the methods and ways you suggest to improve the crypto exchange industry.

How will your exchange be better than the competition? 
Can you list a few problems you see with the current way that industry operates, and what are you planning to do differntly?
Marketing is immensely important. A good idea needs to be out there. People need to see it, hear it, read about it, and have its name and brand stuck in their head. If not, they are just going to run to something else they see that is shouting louder than you saying how good they are. 

[hugeblack]

I would love to just post my business plan on here to get peoples advice. The problem with that is that my business plan is unique and can be easily be launched by someone with more experienced than me. Im all for being transparent and sharing innovating  ideas to the community but I wouldn't appreciate someone just taking it and claiming its theirs. I hope yall understand and if you're curious about it just message me ill be happy to share my business plan.

You can post what you want specifically, for example, developing applications and exchanging cryptocurrencies are general terms that may refer to many technologies, so what are you looking for specifically?
Write, for example, a back-end developer, a stack, a game developer, focusing on the interface, user privacy, and other things.
Is your project profitable, or will you pay the developer, or a partnership and share giving system?

[its320]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders. The venders that would mainly use this would be marijuana dispensary's which arnt allowed bank accounts. This would provide digital storage of funds for vendors that are cash only at this point and also add the ease of online transactions. Im fairly new to crypto but ive formularized myself with how blockchains work and holding liquidity pools and expect to become proficient in everything crypto. from what ive gathered so far this project is posable all I need is some help with all the details.

[gunhell16]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders. The venders that would mainly use this would be marijuana dispensary's which arnt allowed bank accounts. This would provide digital storage of funds for vendors that are cash only at this point and also add the ease of online transactions. Im fairly new to crypto but ive formularized myself with how blockchains work and holding liquidity pools and expect to become proficient in everything crypto. from what ive gathered so far this project is posable all I need is some help with all the details.

First find out what blockchain dude does? and of course you should do your own research on this matter. Also, if what you want is similar to paypal, it means what you want is like E-wallet or E commerce.

The question is how do you do it? because even if you ask a question here in the forum, your strategy is still the one you will definitely follow. I guess you'll just get an idea about this matter in my opinion. But of course you still need a developer for this matter anyway and team too.

[Accardo]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders. The venders that would mainly use this would be marijuana dispensary's which arnt allowed bank accounts. This would provide digital storage of funds for vendors that are cash only at this point and also add the ease of online transactions. Im fairly new to crypto but ive formularized myself with how blockchains work and holding liquidity pools and expect to become proficient in everything crypto. from what ive gathered so far this project is posable all I need is some help with all the details.

First find out what blockchain dude does? and of course you should do your own research on this matter. Also, if what you want is similar to paypal, it means what you want is like E-wallet or E commerce.

The question is how do you do it? because even if you ask a question here in the forum, your strategy is still the one you will definitely follow. I guess you'll just get an idea about this matter in my opinion. But of course you still need a developer for this matter anyway and team too.

Yeah, I think OP is looking out to creating a cryptocurrency wallet between vendors and clients and such wallet won't be able to make payments to another cryptocurrency wallet except to a person that owns the wallet. Considering that paypal can't send money to another app except paypal. Since you are giving out the tip of the iceberg of the idea, It'll be difficult to conclude accurately what solution you need actually. From my perspective, to achieve such, you need a different network, I think you'll have to create the safecoin for it on a different network where users can only make peer to peer payment on the network and you'll be the exchange that'll help them get fiat using a bridge to send the coin to a regular network like blockchain that can enable you change it to fiat.

[joniboini]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders.

Why the need to limit the app to one coin? I don't think there's enough appeal for that since users and vendors would be forced to use your coin and need to swap if they want to use your platform. Why don't you allow anyone to use any crypto they like, but provide an incentive to use your own token instead? For example, if they use/stake your token, then they'll get a 10% discount for every transaction.

This idea is not new btw, lots of decentralized exchanges/marketplaces use the same incentive to encourage users to use their own tokens. But they don't limit the usage of other cryptos, so they can still earn from other sources. Btw, what your project does is act as a payment gateway for marijuana vendors, which will probably compete with other payment gateways such as BTCPay server. Have you seen them before, and find what makes your project stand out other than the support for other cryptos other than Bitcoin? CMIIW.

[Findingnemo]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders. The venders that would mainly use this would be marijuana dispensary's which arnt allowed bank accounts. This would provide digital storage of funds for vendors that are cash only at this point and also add the ease of online transactions. Im fairly new to crypto but ive formularized myself with how blockchains work and holding liquidity pools and expect to become proficient in everything crypto. from what ive gathered so far this project is posable all I need is some help with all the details.

So you are going to build and exchange app which exchange whatever cryptocurrency deposited by the user into something called safe coin and the people can use it to pay for the vendors but how do you convince that your coin is actually safe? And on what basis the coin will get its value?

I suggest you to go with something life bitrefil which mainly used to bypass almost every online purchase like converting the crypto into gift cards then it becomes spendable on every website.

[suzanne5223]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders. The venders that would mainly use this would be marijuana dispensary's which arnt allowed bank accounts. This would provide digital storage of funds for vendors that are cash only at this point and also add the ease of online transactions. Im fairly new to crypto but ive formularized myself with how blockchains work and holding liquidity pools and expect to become proficient in everything crypto. from what ive gathered so far this project is posable all I need is some help with all the details.

So you are going to build and exchange app which exchange whatever cryptocurrency deposited by the user into something called safe coin and the people can use it to pay for the vendors but how do you convince that your coin is actually safe? And on what basis the coin will get its value?

There's no way he can convince people that his coin is a safe coin and from everything, he explained I don't see the idea moving far because experience crypto users will easily understand the whole idea is never about the exchange but increasing the usage of the safe coin. However, if he accept BTC as payment the story may change.

I suggest you to go with something life bitrefil which mainly used to bypass almost every online purchase like converting the crypto into gift cards then it becomes spendable on every website.

I don't think he's planning to go for something like this because his purpose was to create an exchange platform that would allow people to buy marijuana through the use of the so-called safecoin and I don't see crypto users patronizing such an ecosystem when they can easily use reputable payment platform that accept BTC.

[Terminal2022]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders. The venders that would mainly use this would be marijuana dispensary's which arnt allowed bank accounts. This would provide digital storage of funds for vendors that are cash only at this point and also add the ease of online transactions. Im fairly new to crypto but ive formularized myself with how blockchains work and holding liquidity pools and expect to become proficient in everything crypto. from what ive gathered so far this project is posable all I need is some help with all the details.

So you are going to build and exchange app which exchange whatever cryptocurrency deposited by the user into something called safe coin and the people can use it to pay for the vendors but how do you convince that your coin is actually safe? And on what basis the coin will get its value?

There's no way he can convince people that his coin is a safe coin and from everything, he explained I don't see the idea moving far because experience crypto users will easily understand the whole idea is never about the exchange but increasing the usage of the safe coin. However, if he accept BTC as payment the story may change.

I suggest you to go with something life bitrefil which mainly used to bypass almost every online purchase like converting the crypto into gift cards then it becomes spendable on every website.

I don't think he's planning to go for something like this because his purpose was to create an exchange platform that would allow people to buy marijuana through the use of the so-called safecoin and I don't see crypto users patronizing such an ecosystem when they can easily use reputable payment platform that accept BTC.

Mate check out BABA coin they already do what you are planning todo .
I think you may try to build up your interface on XHV or Monero blockchain as Privacy coins are the future .

[virasog]

Yeah, I think OP is looking out to creating a cryptocurrency wallet between vendors and clients and such wallet won't be able to make payments to another cryptocurrency wallet except to a person that owns the wallet. Considering that paypal can't send money to another app except paypal. Since you are giving out the tip of the iceberg of the idea, It'll be difficult to conclude accurately what solution you need actually. From my perspective, to achieve such, you need a different network, I think you'll have to create the safecoin for it on a different network where users can only make peer to peer payment on the network and you'll be the exchange that'll help them get fiat using a bridge to send the coin to a regular network like blockchain that can enable you change it to fiat.

What i understand is that he will produce a crypto wallet which will do this and that but there will be "Safe Coin" which will be the altcoin for that exchange / wallet. OP will present this business idea and try to gain startup funds by an ICO for the "Safe Coin". This is how many start up gain and capture money from the market by presenting the idea, collecting funds and never implement the project or have a road map which grows slowly.
Let's see how OP will go about his business idea, i hope he has different plan than the ones i stated above.

I think you may try to build up your interface on XHV or Monero blockchain as Privacy coins are the future .

Privacy coins are not easy to grow as when the regulators hit the market, their first target will be privacy coins as you cannot track their transactions.

[yhiaali3]

If the main idea is to create an app that uses a Safe coin for sellers to make online payments, which coin would you like to use? Are you going to use one of the coins on the market? Or will you create a new "Safe coin"?

If you want to create a new coin, this means that you need to create a blockchain for the coin, this means that you need a team because this is difficult for one person to do, and you also need a business plan of several stages and provide the necessary funds to complete each stage.

This costs a lot of money so have you ever thought about how you will provide the money needed to create such a project that involves creating a new coin and a new blockchain?

[Wiwo]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders. The venders that would mainly use this would be marijuana dispensary's which arnt allowed bank accounts. This would provide digital storage of funds for vendors that are cash only at this point and also add the ease of online transactions. Im fairly new to crypto but ive formularized myself with how blockchains work and holding liquidity pools and expect to become proficient in everything crypto. from what ive gathered so far this project is posable all I need is some help with all the details.

From the look of things, you don't have any serious idea to share with us and what you mention here is all about centralization because developing a PayPal like payment systems in form of apps with your one coin as the primary currency and running a supply payment for an illegal substance which is banned in many countries. Thos business have not future and even though I hate to discourage this idea but personally I feel this is a dead in arrival project and most people wont pay attention to this thread unless you come up with something better.

[gunhell16]

If the main idea is to create an app that uses a Safe coin for sellers to make online payments, which coin would you like to use? Are you going to use one of the coins on the market? Or will you create a new "Safe coin"?

If you want to create a new coin, this means that you need to create a blockchain for the coin, this means that you need a team because this is difficult for one person to do, and you also need a business plan of several stages and provide the necessary funds to complete each stage.

This costs a lot of money so have you ever thought about how you will provide the money needed to create such a project that involves creating a new coin and a new blockchain?

I think OP is not serious about what he made a topic here in this forum section. Because first of all, his details about the inquiries he is planning on the crypto exchange are lacking. Then his last post was last December 20, 2022,

In addition to that, his last active post was also this past January 11, he didn't even look at the topic he did to see what answer there is already here for what he wanted to know.

[Emitdama]

Anyone with insight into crypto exchange or app development interested in seeing what im cooking up private message me.

In my understanding, it is NOT a simple business unlike what you usually deal up with an app development or anything similar but an exchange is a complex script based and need a team to customize and maintain for day to day running. So, finding your partner or developer online may not be suitable; better you look for your local reputed concerns for right people if you are really serious about it.

I have helped an exchange to start up and worked for them 3 years. Was the best crypto job I ever had.

Have you got a service topic for this? If so, why not ask your client to vouch for you on that topic to maximize new opportunities? I am saying this because, few years back, I was serious about launching a crypto exchange but at that times, I found hard time to find right people to hire.

[seoincorporation]

My plan is to create an app like paypal for people to make online transactions with venders. The app would only host one main coin that I would like to create as a  safecoin for people to use as currency for the venders.

Creating a Paypal App and a New coin is an enormous project... Just too complex to be done by anyone, I don't say it's impossible, but it's really complex. And if you want to hire a developer for this it will have a high price and the project will take a long time.

Y would recommend not wasting time on a project like this because making it a reality will be really hard. And if you really decide to move on with the project, then I wish you good luck.