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Author Topic: HELP TO CREATE IDEAL BITCOIN EXCHANGE  (Read 1001 times)
BitcoinStart
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September 30, 2014, 02:24:41 PM
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Hello everyone! Our team wants to create new perfect and perspective BITCOIN EXCHANGE. We ask you to share with us your opinion, ideas about exchanges that you know: their advantages that you like, disadvantages, which are annoying you. Thank you for your answer.
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TradersWay.JC
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September 30, 2014, 08:00:32 PM
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Like:

1) Ability to to place Fiat <--> Fiat trades, Coin <--> Coin trades, Fiat <--> Coin trades

2) Many deposit and withdrawal options depending on customers' needs

3) Customer service chat like on Coinbase

4) API support

5) Low trading fees (0.50% or less per trade)

6) Ability to store fiat currency in account in order to place an order later


Dislike:

1) High transaction fees for deposits/withdrawals

2) Businesses that don't pay out  Wink

Trader's Way - Forex & Binary Options Trading, Accepts Bitcoin - US Traders Accepted Smiley
Get a 100% Deposit Bonus when you sign up with us. Free VPS with deposits above $1000
BitcoinStart
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September 30, 2014, 08:24:33 PM
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Thanks much, can You tell us a bit more about your own needs ?
TradersWay.JC
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September 30, 2014, 08:46:08 PM
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Our brokerage uses the following payment options: http://www.tradersway.com/payments

We currently use an API system that generates a new Bitcoin wallet address when one of our clients wishes to make a deposit via Bitcoin. Then their trading account is tied to that wallet address so we can have our system automatically sell the bitcoins we receive at the market price and then credit the client's account accordingly in Euros or USD. We never keep our funds in Bitcoin, so it would be nice to have a reputable exchange that would allow us to keep USD and EUR in the account as well (like BTC-e does). When we need to withdraw our fiat, we use Perfect Money as it is offered for free by BTC-e. It would be nice if we could use Skrill or Payza as well (and use it cheaply), but the fees for everything else are very high. If we had a solution where we could use Skrill for everything and not lose a lot of money when adding or withdrawing funds, it would be very convenient. Currently we have a good system going though but could potentially look for a new one in the future if the client base (and thus the trading volumes) are sufficiently high enough. The spread on the exchange must be low so we can offer fair exchange rates to our clients.

Also, if wire transfers are made available and for a good price, it would be a plus.


Hope this helps,
Joe Carney

Trader's Way - Forex & Binary Options Trading, Accepts Bitcoin - US Traders Accepted Smiley
Get a 100% Deposit Bonus when you sign up with us. Free VPS with deposits above $1000
r3wt
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September 30, 2014, 08:49:58 PM
 #5

Hello everyone! Our team wants to create new perfect and perspective BITCOIN EXCHANGE. We ask you to share with us your opinion, ideas about exchanges that you know: their advantages that you like, disadvantages, which are annoying you. Thank you for your answer.

Use HMAC(Or other MAC based Signing Algorithm) To sign API calls, with a timebased nnonce. It's a good way to rate limit your api and stop bruteforcers. also enforce strict call limits and ip bans. white list only known applications. make users have to request access manually, and optionally only from verified accounts. Anyone who refuses to verify their identity only wants access to your api for one thing: to hack it. Don't be stupid like mintpal, myself and many others. Do like cryptsy and arm your application to the teeth with Hacker crushing diamond tipped razorblades.

Also, pay for a security audit of your code up front. Don't trust the developers to deliver you bulletproof code. They may deliver swisscheese disguised as gold. If it looks pretty, don't trust it.

My negative trust rating is reflective of a personal vendetta by someone on default trust.
Sheldor333
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October 05, 2014, 11:02:50 AM
 #6

Like:

1) Ability to to place Fiat <--> Fiat trades, Coin <--> Coin trades, Fiat <--> Coin trades

2) Many deposit and withdrawal options depending on customers' needs

3) Customer service chat like on Coinbase

4) API support

5) Low trading fees (0.50% or less per trade)

6) Ability to store fiat currency in account in order to place an order later


Dislike:

1) High transaction fees for deposits/withdrawals

2) Businesses that don't pay out  Wink
I think it's all there in this post. If you are able to do all of this then there is a good change it will take off.

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