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Author Topic: How to create an exchange like crypsy or bittrex?  (Read 1735 times)
Solidsmart
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October 29, 2014, 06:41:34 PM
 #1

is there any software that can be bought,whats name?
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Ron~Popeil
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October 29, 2014, 06:47:09 PM
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is there any software that can be bought,whats name?

I don't know of any software I could name off the top of my head but if you have the skills or funds to pay for it I think custom software would be the best route to go. Well built proprietary software would be less vulnerable to hacks etc.

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October 29, 2014, 06:56:09 PM
 #3

is there any software that can be bought,whats name?

I don't know of any software I could name off the top of my head but if you have the skills or funds to pay for it I think custom software would be the best route to go. Well built proprietary software would be less vulnerable to hacks etc.
tnx that means i have to pay for that,eitherway,better then getting hacked
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October 29, 2014, 07:32:19 PM
 #4

Creating an exchange would set you back 10k in the least








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franky1
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October 29, 2014, 07:45:43 PM
 #5

if you dont have programming skills then having a web business involving holding currency should not be something you should choose. for thse reasons
1. you may lack the programming skills to audit the code to know if any backdoor exist
2. if there are bugs you may lack the skills to patch the holes
3. if you dont know how to program then your experience of running a internet server may also lack
4. you sound like someone with limited funding/experience. which is not good for running an exchange.

these days its best to have someone with proper financial experience, that doesnt want a cheap set-up purely to profit from as that is the neon signs of a mtgox scenario.

if you do manage to surprise everyone by being a well known person that has great experience in finance and programming and you are going to do it.. do not buy a piece of software off the shelf. you WILL need to employ someone to program AND maintain it. you will need atleast 3 servers to maintain a proper secure system and alot of bandwidth and guaranteed electric supply.

its not going to be a cheap $200 software package.. think $10k+


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October 29, 2014, 09:14:13 PM
 #6

if you dont have programming skills then having a web business involving holding currency should not be something you should choose. for thse reasons
1. you may lack the programming skills to audit the code to know if any backdoor exist
2. if there are bugs you may lack the skills to patch the holes
3. if you dont know how to program then your experience of running a internet server may also lack
4. you sound like someone with limited funding/experience. which is not good for running an exchange.

these days its best to have someone with proper financial experience, that doesnt want a cheap set-up purely to profit from as that is the neon signs of a mtgox scenario.

if you do manage to surprise everyone by being a well known person that has great experience in finance and programming and you are going to do it.. do not buy a piece of software off the shelf. you WILL need to employ someone to program AND maintain it. you will need atleast 3 servers to maintain a proper secure system and alot of bandwidth and guaranteed electric supply.

its not going to be a cheap $200 software package.. think $10k+



This.
An actual exchange that functions properly is going to be pricey...we're talking $10k off rip to just get started.

If you do not know how to program, add an additional $10,000 large.

▓▓▓▓   New Real-time Cryptocurrency Exchange            → CREATE  ACCOUNT ▓▓▓▓
▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅  BIT-X.com  ▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅
▓▓▓▓   Supported Currencies: BTC, LTC, USD, EUR, GBP → OFFICIAL THREAD ▓▓▓▓
Solidsmart
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October 29, 2014, 09:16:06 PM
 #7

if you dont have programming skills then having a web business involving holding currency should not be something you should choose. for thse reasons
1. you may lack the programming skills to audit the code to know if any backdoor exist
2. if there are bugs you may lack the skills to patch the holes
3. if you dont know how to program then your experience of running a internet server may also lack
4. you sound like someone with limited funding/experience. which is not good for running an exchange.

these days its best to have someone with proper financial experience, that doesnt want a cheap set-up purely to profit from as that is the neon signs of a mtgox scenario.

if you do manage to surprise everyone by being a well known person that has great experience in finance and programming and you are going to do it.. do not buy a piece of software off the shelf. you WILL need to employ someone to program AND maintain it. you will need atleast 3 servers to maintain a proper secure system and alot of bandwidth and guaranteed electric supply.

its not going to be a cheap $200 software package.. think $10k+


great answer, now exchange opening definitly fails in my head
Soros Shorts
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October 29, 2014, 09:30:11 PM
 #8

If you were thinking of buying some software and installing the website, wallets, databases and transaction engines all on the same server, think again.

I can tell you that just the cost for DDOS and IDS/IDS protection for a financial web application start at upwards of $2,000 a month for one site. You need at least 2 sites that are geographically separated for disaster recovery. That doubles the cost to $4,000/month minimum just on protection. On top of that you still need to pay for the servers and software. 
blatchcorn
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October 29, 2014, 09:36:34 PM
 #9

You have two choices:
1) Become a world-class programmer
2) Pay Alphapoint $200k and 40% of your profits

Good luck!

[
segvec
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October 29, 2014, 09:37:43 PM
 #10

You have two choices:
1) Become a world-class programmer
2) Pay Alphapoint $200k and 40% of your profits

Good luck!

+1 for that.
I'm thinking option 2 is viable for you OP.  Roll Eyes

▓▓▓▓   New Real-time Cryptocurrency Exchange            → CREATE  ACCOUNT ▓▓▓▓
▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅  BIT-X.com  ▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅
▓▓▓▓   Supported Currencies: BTC, LTC, USD, EUR, GBP → OFFICIAL THREAD ▓▓▓▓
BTCTIME247
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October 30, 2014, 01:37:11 AM
 #11

Free - https://github.com/btcexch1/ecoinstrader
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October 30, 2014, 02:27:24 AM
 #12

It's too much work or price for normal btc users. You may want to hire a team to do the job.
Gleb Gamow
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October 30, 2014, 05:12:25 AM
 #13

I talked to these guys at the Chicago conference: http://www.modulusglobal.com/

They mention a ~$20K package would do the trick. What's everybody else's assessment?
Jamacn
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October 30, 2014, 05:13:48 AM
 #14

If you buy the software, please note that whether is the original author leaving a backdoor?
segvec
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October 30, 2014, 05:25:50 AM
 #15

I talked to these guys at the Chicago conference: http://www.modulusglobal.com/

They mention a ~$20K package would do the trick. What's everybody else's assessment?

Too cheap for an exchange that is going to be handling volume.

▓▓▓▓   New Real-time Cryptocurrency Exchange            → CREATE  ACCOUNT ▓▓▓▓
▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅  BIT-X.com  ▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅
▓▓▓▓   Supported Currencies: BTC, LTC, USD, EUR, GBP → OFFICIAL THREAD ▓▓▓▓
Morecoin Freeman
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October 30, 2014, 05:53:39 AM
 #16

I would advise against beginning an exchange without prior knowledge and education. If things don't work out it will become a disaster. We have seen it happen before, more than once...

Ask the stranger he knows who you really are.
Solidsmart
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October 30, 2014, 09:16:54 AM
 #17

I would advise against beginning an exchange without prior knowledge and education. If things don't work out it will become a disaster. We have seen it happen before, more than once...
i am thinking like you, therefore exchange is nothing for me.tnx for adive
Solidsmart
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October 30, 2014, 09:17:58 AM
 #18

You have two choices:
1) Become a world-class programmer
2) Pay Alphapoint $200k and 40% of your profits

Good luck!
what is alphapoint?
what skills do you recommend for programming? c++? i guess only this is needed in crypto?
Solidsmart
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October 30, 2014, 09:19:07 AM
 #19

If you were thinking of buying some software and installing the website, wallets, databases and transaction engines all on the same server, think again.

I can tell you that just the cost for DDOS and IDS/IDS protection for a financial web application start at upwards of $2,000 a month for one site. You need at least 2 sites that are geographically separated for disaster recovery. That doubles the cost to $4,000/month minimum just on protection. On top of that you still need to pay for the servers and software. 
`
you are right,therefore i dont wanna make an exchange,if i would i would hire programmers,but my knowledge is not enough
Solidsmart
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October 30, 2014, 09:20:46 AM
 #20

this looks interesting, is this safe?
i mean i will not make an exchange,but just for test purpoeses?
and is this used often?
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