Round 2 after huge susses with cripto // debit i wanted to dust off an old plan.
We were building a (centralized) exchange that runs on Binance liquidity which allow user to trade free without any limits and KYC. I would love to get some feedback and ideas. The exchange is already finished. But there are thousands of exchanges to choice from, and I don't know if here is a big interested in this idea. Love to hear your side.
Do you think this is enough to make your exchange stand out from the competition? I doubt. What you offer is available on major exchanges like OKex or ByBit. You definitely won't be able to compete with them on equal terms. The choice of crypto exchanges is very large and few people care about the lack of KYC and limits. Because, firstly, KYC is already perceived by the industry as a common thing, and secondly, most traders have enough limits of 2 bitcoins per day, because for the most part, exchange users do not have huge funds so that they need an unlimited withdrawal. And those users who need unlimited, they will definitely not come to you, because the market has long had proven options for exchanging and withdrawing funds.
In addition, with your conditions, you can easily gain a reputation as an exchange used by scammers and other persons who launder stolen money, and therefore your exchange can be marked as a High-risk service. After your exchange, no one will exchanger such bitcoins, since they will not pass an aml check.