Quote from: Klubknuckle on November 16, 2014, 02:21:52 PM

Quote from: Smack That Ace on November 16, 2014, 01:05:55 PM

Hello,
I was wondering how do companies like bitpay, coinbase, circle get their bitcoins to sell to their customers.
What is the concept of Market maker and does it apply to such exchanges ?
If I were to open an exchange like coinjar or coins.pH in my country how will I be handling the bitcoin selling to customers. Where would i be buying the bitcoin from ?
Specially if sending money outside the country is only through expensive methods like western union who charge enormous fee and the project won't be viable.
I am expexcting more bitcoin outgoing then incoming so expcting to cover the sales from that won't be possible?

Please advice

Regards

Duke

Well, in order to sell bitcoin their customer need to deposit bitcoin. And in order to buy bitcoin you need to deposit USD. Tada, you don't actually need to own any money to start an exchange..

That's hefty deal isn't it? you don't need to own any money to start an exchange. Would love to start an exchange.