Exchange for sale - Coinnext

[coinnext]

We have decided to sell Coinnext because we sadly don't have the time and resources anymore to maintain and grow it beyond this point.
Coinnext is launched May 7th, we have heavily marketed this product since then. Our SEO, while far from it's potential, is growing quickly.

Traffic from May 7, 2014 to Jun 17, 2014

• Sessions: 39,312
• Unique visitors: 18,174
• Avg session duration: 00:05:43
• Around 70% of all this traffic is completely free. (21% of all sessions is through Bitcointalk, 20% is direct, 12% is through google, 3% is through reddit, 2% is through twitter, ...)

What is up for auction?

• The brand Coinnext, professional designed branding with a perfect reputation. We never got hacked.
• The domain name Coinnext.com
• Social Media accounts; Reddit, Facebook & Twitter (300+ genuine followers).
• Coinnext Community accounts on all the community boards that we registered.
• 1,600+ registered and email verified users, we're currently adding about 20 new users per day.
• 1,387 people registered to our newsletter
• 3th party software accounts, such as our helpdesk, software tools (github, ..), monitoring tools. This is optional and we will gladly help you move to other software of your preference free of charge.
• The front-end;
  -- Automated deposit / withdraw system including anti-fraud detection that will stop withdrawals that are suspicious or found fraudulent.
  -- Easy to add/remove coins
  -- Integrated Chatbox
  -- Highly responsive single page trading page
  -- Professional designed UI
  -- Admin back-end. Disable/enable markets, lookup user/transaction data, ...
• The back-end
  -- Custom built, cryptocurrency specific trading engine.
  -- We have separate servers for providing the web interface, servers for the exchange and servers to hold all the funds. We have 3 different coin servers, higher risk coins are separated from the Bitcoin server.
  

Technical; the site is built on Node.js and using a MySQL database for storage.
A safe exchange is everything but easy to make. We've carefully developed it over the span of 6 months with absolute security in mind. Where other exchanges hired VC funding and employed complete teams, we made ours from scratch with only two.

Monthly Costs: total servers cost is around 500$ per month.
We pay a few misc. bills like github / helpdesk but these are all relatively low and completely optional.

While everything is setup, ready and working near perfection, you will need development skills or people with development skills involved to make this a success. Please consider this when bidding.

Starting bid: 10 BTC
Buy it now: 50 BTC
End date and time: June 30th
Payment methods accepted: Bitcoin / Litecoin

The person who refers us to the final buyer is offered 10% of the selling price. So if you know someone who might be interested, let them know.

[AcoinL.L.C]

Any current revenue figures?

[coinnext]

Any current revenue figures?

We have a 3 month promotion to charge 0% fees ongoing. So no revenue is currently made.

[AcoinL.L.C]

Any current revenue figures?

We have a 3 month promotion to charge 0% fees ongoing. So no revenue is currently made.

Ouch. To risky for me to consider, would be in the hole nearly 10k by the time you could even start making revenue, and Im assuming this part, "Total Volume:1.6504 BTC
Total Trades:5705"
is lifetime trades, because when I checked a couple hours ago it was 5703 trades.

Site looks very nice, just I can't see it making a profit. Say you charge a .15% fee each way (like mintpal), so .3% on every transaction, and you get 1000BTC a month in volume (~605x current volume), that would be 3BTC generated in fees. After server fees, your down to ~2BTC, which doesn't leave much for hiring white hatters and marketing.

I love the way the site looks, just can't see it turning a profit 

Goodluck selling!

[coinnext]

Any current revenue figures?

We have a 3 month promotion to charge 0% fees ongoing. So no revenue is currently made.

Ouch. To risky for me to consider, would be in the hole nearly 10k by the time you could even start making revenue, and Im assuming this part, "Total Volume:1.6504 BTC
Total Trades:5705"
is lifetime trades, because when I checked a couple hours ago it was 5703 trades.

Site looks very nice, just I can't see it making a profit. Say you charge a .15% fee each way (like mintpal), so .3% on every transaction, and you get 1000BTC a month in volume (~605x current volume), that would be 3BTC generated in fees. After server fees, your down to ~2BTC, which doesn't leave much for hiring white hatters and marketing.

I love the way the site looks, just can't see it turning a profit 

Goodluck selling!

The site could currently easily handle 1000 BTC per DAY volume, it's even really doable to reach that amount (mostly by adding new coins aggressively).
1000 BTC per month would be only 33 BTC per day, that is not so much. I think our pricing is very reasonable and inline with what we offer. For the right entrepreneur this is a very good deal. If you are looking for a passive income site, indeed, this is not for you.

[AcoinL.L.C]

Any current revenue figures?

We have a 3 month promotion to charge 0% fees ongoing. So no revenue is currently made.

Ouch. To risky for me to consider, would be in the hole nearly 10k by the time you could even start making revenue, and Im assuming this part, "Total Volume:1.6504 BTC
Total Trades:5705"
is lifetime trades, because when I checked a couple hours ago it was 5703 trades.

Site looks very nice, just I can't see it making a profit. Say you charge a .15% fee each way (like mintpal), so .3% on every transaction, and you get 1000BTC a month in volume (~605x current volume), that would be 3BTC generated in fees. After server fees, your down to ~2BTC, which doesn't leave much for hiring white hatters and marketing.

I love the way the site looks, just can't see it turning a profit 

Goodluck selling!

The site could currently easily handle 1000 BTC per DAY volume, it's even really doable to reach that amount (mostly by adding new coins aggressively).
1000 BTC per month would be only 33 BTC per day, that is not so much. I think our pricing is very reasonable and inline with what we offer. For the right entrepreneur this is a very good deal. If you are looking for a passive income site, indeed, this is not for you.

The software might be able to handle 1000BTC per day, and no, its not doable at this stage in the game. There are many exchanges, yet mintpal, bter, and cryptsy have managed to control nearly the entire marketshare. Its not realistic to assume to 1000BTC. Any new BTC based exchanges realistic customer base will be that of pump & dumps.

Again, wish you best of luck, but when your selling a business it doesn't matter what it could do, it matters what it does bring in

[coinnext]

Any current revenue figures?

We have a 3 month promotion to charge 0% fees ongoing. So no revenue is currently made.

Ouch. To risky for me to consider, would be in the hole nearly 10k by the time you could even start making revenue, and Im assuming this part, "Total Volume:1.6504 BTC
Total Trades:5705"
is lifetime trades, because when I checked a couple hours ago it was 5703 trades.

Site looks very nice, just I can't see it making a profit. Say you charge a .15% fee each way (like mintpal), so .3% on every transaction, and you get 1000BTC a month in volume (~605x current volume), that would be 3BTC generated in fees. After server fees, your down to ~2BTC, which doesn't leave much for hiring white hatters and marketing.

I love the way the site looks, just can't see it turning a profit 

Goodluck selling!

The site could currently easily handle 1000 BTC per DAY volume, it's even really doable to reach that amount (mostly by adding new coins aggressively).
1000 BTC per month would be only 33 BTC per day, that is not so much. I think our pricing is very reasonable and inline with what we offer. For the right entrepreneur this is a very good deal. If you are looking for a passive income site, indeed, this is not for you.

The software might be able to handle 1000BTC per day, and no, its not doable at this stage in the game. There are many exchanges, yet mintpal, bter, and cryptsy have managed to control nearly the entire marketshare. Its not realistic to assume to 1000BTC. Any new BTC based exchanges realistic customer base will be that of pump & dumps.

Again, wish you best of luck, but when your selling a business it doesn't matter what it could do, it matters what it does bring in

Again, what it brings is clearly outlined in the original post. I priced it appropriately to what's outlined there. If it would be at the point of 1000 BTC per day, it would not be for sale for starting from 10 BTC. I also clearly stated for you once again that this is not intended as a passive income website and valuing it as such is just idiotic. This is a project for a bitcoin entrepreneur who has the resources and time to follow up on the startup journey.

We had a great start and we have great running platform; that is what's for sale. I'm not selling a 1000 BTC/day business here, I think that is pretty clear to almost everyone here.

[armin22]

Really like it, but at 10btc thats outrageous. You guys kvervalued yourselves

[coinnext]

Really like it, but at 10btc thats outrageous. You guys kvervalued yourselves

Are you serious? 6000 USD? You know we charge 400 USD/day to develop/design for our clients? You know creating a platform such as we currently have will take you at least 3 months and probably more towards 6 months. On top ours is tested by several security firms and above all has been live and trading for 1 month successfully. If you don't think that is worth 6000 USD at the minimum, you are overvaluing your intelligence.

It's not like we are the last exchange ever in existence. There are many entrepreneurs who do have the time and resources to follow up on an exchange project. For them this is an absolute steal.

[gweedo]

Any current revenue figures?

We have a 3 month promotion to charge 0% fees ongoing. So no revenue is currently made.

50 BTC for no revenue... how did you come up with that validation?

[armin22]

Really like it, but at 10btc thats outrageous. You guys kvervalued yourselves

Are you serious? 6000 USD? You know we charge 400 USD/day to develop/design for our clients? You know creating a platform such as we currently have will take you at least 3 months and probably more towards 6 months. On top ours is tested by several security firms and above all has been live and trading for 1 month successfully. If you don't think that is worth 6000 USD at the minimum, you are [overvaluing/b] your intelligence.

It's not like we are the last exchange ever in existence. There are many entrepreneurs who do have the time and resources to follow up on an exchange project. For them this is an absolute steal.

Good job scaring away potential customers. I wish you luck upon finding a daring investor to invest in a business with a record of 0 returns. Nice. 2btc daily volume, yet you expect it can easily rise 500x by "adding new coins aggresively" which would result in you also being accused of adding scam coins which in turn leaves a bad reputation which in turn reduces users which in turn reduces volume and so on and so on. Good luck, seriously youre gonna need it.

[MrWDunne]

I'm going to stand up for him, and say that this is a fair price for it. The platform looks fairly good (I have no idea about its performance).

With some aggressive marketing it could certainly could turn a reasonable profit. Certainly enough to be a full time job for one person.

[MrWDunne]

(Although I would want to get if for 10btc if I were interested)

[RiverBoatBTC]

I also to think its a good platform, If I had the capital to buy it I would...

[coinnext]

Good job scaring away potential customers. I wish you luck upon finding a daring investor to invest in a business with a record of 0 returns. Nice. 2btc daily volume, yet you expect it can easily rise 500x by "adding new coins aggresively" which would result in you also being accused of adding scam coins which in turn leaves a bad reputation which in turn reduces users which in turn reduces volume and so on and so on. Good luck, seriously youre gonna need it.

How did I scare customers away? I've been nothing but straight forward. I never said it's easy to rise 500x, kind of lame of you to claim that, and I dare you to quote me on that. I said it's doable and that the best way we found to grow the site, ROI wise, is adding new coins aggressively. Then on top you proceed to make your own future projections based on nothing but your instinct. I'm sorry but if there is someone scaring "customers" away it is you with FUD.

[coinnext]

Any current revenue figures?

We have a 3 month promotion to charge 0% fees ongoing. So no revenue is currently made.

50 BTC for no revenue... how did you come up with that validation?

Write 100 skilled developers / developer companies (not off-shore, the quality they can provide is just not sufficient for a financial exchange that is supposed to hold up to millions of user funds) and ask for a quote of a project similar that we have. Let me know the average quote price.

Optionally, you can also add the price of the security team we hired (and every exchange should) to completely audit our app. The price of the custom branding / UI if you were to hire someone for that, I can continue.. We are also beyond a software project, we are a brand that is out there in the market, live and successfully trading for over month, which is the best proof of concept you could ask for to judge software.

[arbitrage001]

A few questions:

1) What is the process to add another coin on the exchange?
2) How is the wallet security being handled?
3) What development skill is needed? What framework is the platform written on?



Thank you

[coinnext]

A few questions:

1) What is the process to add another coin on the exchange?
2) How is the wallet security being handled?
3) What development skill is needed? What framework is the platform written on?
Thank you

1) You would need to compile the coin from its github source, this is technically not so hard but requires a small learning process, it could also easily outsourced by anyone. After that put the wallet on our server and we have made a script that easily adds the markets and necessary variables everywhere. Although we made it as easy as possible, this is still something that I strongly advice a developer does however.
2) Our coin wallets are divided over 3 separated servers, high value coins like BTC and LTC reside on one, while brand-new untested coins reside on another. Only the trading engine can access these wallet servers, and only the front-end server can access the trading engine.
We keep over 90% of funds in cold storage, for BTC we use Armory for that. We have a fraud-checker in place that will scan every withdrawal request for abnormalities and block the payout for manual processing if need be. Basically we have covered every trick in the book to maximize our user funds safety.
3) The platform is written on Node.js using Express. A developer with sufficient knowledge of javascript would be necessary to develop new features.

[gweedo]

Any current revenue figures?

We have a 3 month promotion to charge 0% fees ongoing. So no revenue is currently made.

50 BTC for no revenue... how did you come up with that validation?

Write 100 skilled developers / developer companies (not off-shore, the quality they can provide is just not sufficient for a financial exchange that is supposed to hold up to millions of user funds) and ask for a quote of a project similar that we have. Let me know the average quote price.

Optionally, you can also add the price of the security team we hired (and every exchange should) to completely audit our app. The price of the custom branding / UI if you were to hire someone for that, I can continue.. We are also beyond a software project, we are a brand that is out there in the market, live and successfully trading for over month, which is the best proof of concept you could ask for to judge software.

Ok but this is not how valuation of a company is computed, valuation of a company is based on revenue not how much you put into building the site. Do you have at least have some users?

[RiverBoatBTC]

It looks like they do, they got a chatbox and there is chatter.