Tips to Start Your Own Cryptocurrency Exchange

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Tips to Start your Own Cryptocurrency Exchange
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Step-by-Step Guide to Starting Your Bitcoin or
Cryptocurrency Exchange
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• Cryptocurrencies, like Bitcoin and other digital
  currencies, are becoming increasingly popular.
  Early Bitcoin investors and miners are sitting on
  modest fortunes, and the notion is gaining
  traction.

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In 10 Easy Steps, Learn How to Start a Bitcoin
Exchange

• Seek legal advice to ensure that all licensing
  requirements are met.
• Obtain venture capital funding.
• Look for a company that offers cryptocurrency
  exchange software.
• Link your exchange to others for better liquidity
• Form a business relationship with the recognized
  payment processor.
• Use the most up-to-date security techniques.
• Go live after the required beta testing.
• Begin a marketing and public relations strategy.
• Assist customers.
• Keep a legal team on hand to ensure continuing
  compliance.

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Consult a recognized legal person for the
required licenses

• Before you implement a plan into action, one
  should seek legal guidance to know more about the
  legal and regulatory requirements for the new
  businesses. All jurisdictions in which the
  company wants to operate will require proper
  licensing.

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Obtain venture capital funding

• Before you begin your project, you should know
  what you will be the total cost. A minimum of
  135,000 will be necessary to design and launch a
  bitcoin exchange. This includes technology,
  hosting, initial legal guidance, government
  registration, and first advertising costs.

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Locate a vendor of technical solutions

• EnclaveFX offers total custom cryptocurrency
  exchanges for a one-time license cost that
  includes no royalties or compensation
  arrangements. This means there are no fees,
  clients can host the business themselves, and
  clients get the total source code, which is vital
  for auditing purposes because certain regulators
  seek source code inspection.

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Link your exchange to others for better liquidity

• Liquidity is the base step of any required
  exchange. Potential clients will be skeptical of
  your new enterprise if you dont have an order
  book and trading activity. They can connect your
  business to a network of current exchanges,
  improve its liquidity, avoid these hurdles and
  challenges, and avoid the need to imitate
  activity using dummy accounts within the new
  business.

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Form a business relationship with the recognized
payment processor

• All payment processors are not formed similarly.
  Companies will have an extensive range of fee
  arrangements, among various things. To wrestle
  with other exchanges, youll need the lowest
  transaction rate. Some other processors include
  hidden costs in their contracts, so read the deal
  carefully before signing.

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Use the most up-to-date security techniques

• EnclaveFX-powered exchanges are the safest
  globally, with offline cold storage wallets,
  two-factor verification, and encrypted databases.
  Furthermore, the EnclaveFx does not save
  passwords (only hashes).

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Go live after the required beta testing

• Once Youve created your trade, youve also made
  a deal with a payment processing company. Youve
  also gone to great lengths to verify that your
  exchange complies with all applicable rules and
  regulations. Youve assured that your business is
  safe from cyber-attacks.

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Begin a marketing and public relations strategy

• Its time to get updated with crypto news
  publications like daily blog updates of foreign
  exchanges after your exchange is up and running.
  To avoid having to scramble for extra funds after
  your initial raise, its critical to properly
  plan your marketing activities, as well as their
  expenditures.

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Be cautious when providing customer service

• While providing excellent customer service is the
  final step in creating a successful
  cryptocurrency exchange, your ability to excel in
  this area will determine your long-term success.
  Those who deal with customers must be attentive
  and satisfactorily resolve customer complaints
  and technical issues.

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Keep a legal team on hand to ensure continuing
compliance

• They cannot put more pressure on the importance
  of ensuring legal laws, regulations, and
  compliance and adhere to all latest, present, and
  proposed rules and regulations, not limited to
  the jurisdiction in which exchange is based but
  also in all foreign jurisdictions where your
  exchange members or traders will reside or
  conduct trading.

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• Naturally, no step-by-step instruction, but as
  always, the EnclaveFX team helps you on your
  online cryptocurrency trading journey, so please
  feel free to contact us by phone or email if you
  have any more questions.

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Any questions? You can contact EnclaveFX
at E-Mail support_at_enclavefx.com Phone Number
44 7451200066 Address 2nd Floor College House
17 King Edwards Road RUISLIP London HA4 7AE
UNITED KINGDOM