How to create your own bitcoin exchange
This is the top search term on the internet. The unexpected growth of bitcoin creates eager for every bitcoin entrepreneur to start a bitcoin exchange. If you are a bitcoin trader, this is the time for you to start your bitcoin exchange website. With a business-friendly bitcoin exchange script, you can achieve your dream and goals.
Before implementing your business idea, it is must for you to understand some facts.
Let's discuss them below.
The volatility of bitcoin price it doesn't a matter
I accept bitcoin price is the prime factor in bitcoin trading, whenever the bitcoin price flows up, exchanges become busy with successful trades. Remember bitcoin price will be a big matter only if you are a bitcoin trader, but while starting a bitcoin exchange website, you should not consider the ups and downs of bitcoin.
Whatever the bitcoin price is, there will be people to trade with it. So don't step back by seeing the sudden fall and ups of bitcoin price.
Don't get afraid of banning
Whenever the internet goes viral about banning of a bitcoin exchange, every exchange website owner afraid about the life of their bitcoin exchange. Remember banning of a bitcoin exchange will not affect your business.
A bitcoin exchange website will be penalized if it proceeds anonymous bitcoin transaction,So, remember, you don't have to fear about the life of your bitcoin exchange if you proceed everything properly.
Launching your bitcoin exchange at right time will benefit you a lot
What is the right time? if you think that the "right time" underlies the growth of bitcoin price, surely you are having a wrong prediction. Let me explain, In 2014 bitcoin was under $300, it is the very little price when compared to current price. Even though bitcoin price was low, it has a huge demand among people at that time.
So price will not decide the right time of bitcoin industry. But the demand decides it. So in order to start a bitcoin exchange, you just have to analyze the demand for bitcoin.
Universal regulation on bitcoin trading will affect exchange websites
Everyday bitcoin meets new struggles and regulation restriction on trading. Most of the government states that don't bitcoins for anonymous and illicit activities. Whenever a country introduces new rules on bitcoin trading sure it will create global impact. But as a bitcoin exchange, it is just to ensure that whether you are fulfilling all the new rules and norms.
In January and February 2018 the total number of BTC transactions were down just because of the new regulation all over the world, especially in India.
High security and other technical elements play the lead role
Since bitcoin is a virtual currency it must need a secured environment to proceed safe trades. Many bitcoin exchange websites fail to achieve it. Also implementing high fee and limitation on trading causes losing the traders.
So while starting your bitcoin exchange you must think yourself as a trader and have to provide all the things with your website, which a trader could expect from your side.
1. Introduce buy order, sell order, instant order etc.
2. Making your exchange as peer to peer will bring more traffic and profit.
3. High-speed trade match engine.
4. Enabling escrow system with your exchange could bring more trust.
5. And more ...
Create your bitcoin exchange website with bitdeal
From the above sections hope you may understand that bitcoin price is not a big matter. Whatever the bitcoin price you can start your exchange, the success of a bitcoin exchange doesn't rely on bitcoin prices, instead, it relies on the technical aspects and how it resolves the existing problems of bitcoin trading.
Being the industry leader, bitdeal provides technically upgraded bitcoin exchange script to overseas customer. this script can help you to start a user-friendly bitcoin exchange website. for more details about the script, you can inquire bitdeal at any time.