How to Start a Bitcoin Exchange Business
To start a Bitcoin Exchange Business your bitcoin exchange website script must have the following things.
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.
- 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
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Bitdeal - bitcoin exchange script as software solution
Start up your own Digital Asset Trading Business by using Bitdeal Exchange Platform.
Bitdeal provides you the best digital currency exchange solution in developing your Bitcoin, Altcoins other digital asset exchange. This software gives Cryptocurrency Wallet services for storage facilities. And Now, Bitdeal - Cryptocurrency Exchange Platform expands its services with Debit Card system, Newest Alt-coins, Block chain, Cloud mining and this update also provides advanced and secured bug fixes!
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