Tips to Start Your Own Cryptocurrency Exchange - PowerPoint PPT Presentation

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Tips to Start Your Own 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. Naturally, no step-by-step instruction, no matter how comprehensive, will be able to answer all of your questions. However, perhaps, this has assisted you in developing a basic action plan with which you may proceed. As always, the Enclave FX team is here to help you on your online cryptocurrency trading journey, so please feel free to contact EnclaveFX by phone or email if you have any more questions. – PowerPoint PPT presentation

Number of Views:15
Date added: 9 May 2022
Slides: 17
Provided by: EnclaveFX
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Title: Tips to Start Your Own Cryptocurrency Exchange


1
Tips to Start your Own Cryptocurrency Exchange
2
Step-by-Step Guide to Starting Your Bitcoin or
Cryptocurrency Exchange
3
  • 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.

4
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.

5
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.

6






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.

7






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.

8
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.

9
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.

10
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).

11
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.

12
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.

13
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.

14
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.

15
  • 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.

16
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
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