Post
Topic
Board Project Development
Re: New exchange wishes to get some advises.
by
foodbig
on 19/01/2018, 11:20:36 UTC
my first question is WHY?
there are so many exchanges out there already, what are you planning to offer that these dont have already?
The biggest drawback for me that I can see is that for new people looking to get into crypto,
they first have to buy Bitcoin with FIAT through an exchange like Coinbase for example.
Then they have to transfer that to an exchange with a lot of listings like Binance,
and this is an extra cost and a little tedious, I know I found it confusing at the start.
 
Because we think lots of those existed exchanges have bad user experience, it makes our project has a slightly chance to beat them and we'd like to give a shot. Actually I think our biggest challenge is not technical but to convince people believe this is a reliable exchange and willing to come. As you metioned about get Bitcoin at one exchange and transfer to another exchange to trade, I guess because most big exchange would avoid exchange between various electronic currencies and legal tender to reduce legal risks.