I'm building a bitcoin exchange, basically a
Yunbi clone, I'm starting with the
same code their website is using and modifying it
My "niche" I guess, is going to be that I'm going to be adding Tether trading pairs and I won't be charging any trading fees. Also I'm going to focus on advertising to Westerners versus Yunbi which mainly has Chinese users.
These are the trading pairs I plan on starting with
ETH/BTC
LTC/BTC
DASH/BTC
DOGE/BTC
XRP/BTC
ETH/USDT
LTC/USDT
DASH/USDT
DOGE/USDT
XRP/USDT
BTC/USDT
The only fee charged would be a 0.1% withdrawal fee, all trading volume would be no-fee
Also, forgot to mention because of my jurisdiction, there would be no KYC requirements
I'm just trying to gauge people's opinions on this, thanks!
Decent idea since Yunbi's got a big market within China and you could possibly take advantage of that.
However, since you're just building a Yunbi clone have you got Yunbi's permission to use their code? I think it is best to just develop your own site from scratch as it will be easier to customize in the future and plus, people won't confuse you with say, a phishing site.
I think the no trading fee is going to be a great selling point. Whales can use your service comfortably without worrying about paying excessive fees.
Only thing is trust, why should you be trusted? You probably need to gain some more trust before people feel okay with depositing thousands of dollars in their savings to your website. Good luck otherwise.