How to Start a Bitcoin Exchange Business

2016-05-26 14:07:25

To start a Bitcoin Exchange Business your bitcoin exchange website script must have the following things.

Legal

The first question is whether you want to operate globally (e.g. Bitfinex or BitStamp) or focus on a national market (e.g. FlowBTC, meXBT). The next step is to seek legal counsel to help decide where you want to locate and how to incorporate/structure your business.You want to think about how you can limit your liability and exposure to litigation, as well as what regulatory/compliance requirements are in your jurisdiction, and what they are likely to be in ther near term. Merkle Tree offers a useful high-level global map of the regulatory landscape.

Banking

  • What sorts of banking relationships do I need and how can I secure them?
  • Note that banks can be heistant to provide services to digital currency exchanges.


Tech + Security

You or a partner need to build and maintain complex architecture that pairs orders, executes transactions, and manages deposits and withdrawals. Major componets are:

  • Matching engine
  • Risk management system
  • Accounting/audit system
  • Wallet management
  • Payment gateways


Security is understandably paramount. Some things to consider:

  • Sound internal security procedures among your team - see, e.g. CryptoCurrency Security Standard (CCSS)(incredibly important, and often overlooked)
  • Network and hardware security (secure data center, etc.)
  • KYC (Know Your Customer) + AML (Anti-Money Laundering) solutions
  • Two-Factor Authentication for users


Read More @ http://bitcoin.stackexchange.com/questions/18540/what-would-it-take-to-create-my-own-bitcoin-exchange

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Bitcoin trading platform, bitcoin script, bitcoin website script, bitcoin exchange website script, bitcoin php script, bitcoin script php

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