Post
Topic
Board Bitcoin Discussion
Re: Should we invest in a bitcoin exchange?
by
hahay
on 10/07/2020, 19:46:15 UTC
First, you should be updated with Bitcoin news and aware of its volatile situation. You know that it is not an easy job to make an exchange you should be kept in mind different factors like KYC, and securities. You took a great initiative. There are several Bitcoin exchanges even we didn't remember all the names of exchanges. Do hard work and promote your exchange on different platforms. It is a tough job but keep it on & Cheer Up!!   Wink
It would be awesome to have a decentralized exchange coded of our own and set x amount of fee per trade to an address which can further be used to promote that exchange, in this case there won't be any problem for the users to initiate an exchange as the funds won't be deposited on the centralized server so there won't be any fear of a hack, also no KYC will be required because we won't be processing any funds the code or decentralized exchange will be acting as a mediator between 2 parties taking a small percentage of fee. So this is a win win situation.
I know a lot of decentralized exchanges are out there but also are the centralized ones, so it will be better to go for innovation rather than following the herd.
Obviously this is a difficult job and in this case not only about the benefits to be gained from having an exchange or own service, because developers must also have good skills in the field of coding, about promotion and other things that can still be done when the platform has been successfully developed but for the initial step you should not think about it because in the first step it will be very complicated to think about the concept of the platform itself which of course must take precedence about security.