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.
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 probably should have worded it a little bit different, it's not exactly a clone of Yunbi, but we are using the same source code that Yunbi started with. A Chinese venture capital called BitFundPE funded the Peatio project which is what Yunbi was created from. Peatio is open-source and anyone can use it's code. It's actually quite a bit of work getting the exchange working, by default Peatio only supports bitcoin 'out-of-the-box', we're writing all the code from scratch for Litecoin, Dash, Dogecoin, Ripple, Ethereum, and Tether. Actually, quite a bit of customization can be done, ACX for example is also built on top of Peatio, but looking at their user interface, you'd never know it.
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.
Here's what I posted previously about trust and security practices
As for building trust, I'm going to try be as transparent as possible, I'll post information about my own identity and several documents about the business. I'm currently planning on forming the company either in BVI or the USA.
We know for sure the datacenter where we'll be hosting the exchange is secure, we're positive we won't have issues like Bitmit. Currently all crypto wallets use cold storage, we're also looking at BitGo integration with BTC using bitgod https://github.com/BitGo/bitgod
Multiple keys are needed to access the servers, even if one of the keys was somehow compromised, it would be impossible for the hacker to simply drain the wallets
Also, we're planning on making it possible for users to verify solvency, it'll be pretty similar to the way Kraken does it
We know for sure the datacenter where we'll be hosting the exchange is secure, we're positive we won't have issues like Bitmit. Currently all crypto wallets use cold storage, we're also looking at BitGo integration with BTC using bitgod https://github.com/BitGo/bitgod
Multiple keys are needed to access the servers, even if one of the keys was somehow compromised, it would be impossible for the hacker to simply drain the wallets
Also, we're planning on making it possible for users to verify solvency, it'll be pretty similar to the way Kraken does it
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.
We're hoping to attract traders of all sorts, gaining volume is going to be one of our top priorities. Mutually beneficial, more profits for us and more profits for traders
