What is the work to be prepared for blockchain exchange

Time:2020-2-18

The tuyere of blockchain development is slowly opening, and the concept of blockchain development technology is gradually deepening into people’s life. Some people want to use the heat of blockchain development technology to drive the development of industry, but many people also see the value of blockchain development technology, and want to have some research in the field of blockchain. In this period of time, blockchain exchange is the choice of many new entrepreneurs in the field of blockchain, so today’s chain soft network talks about blockchain exchange. What should we prepare to open a blockchain exchange?
What is the work to be prepared for blockchain exchange

Step 1: determine where you want to operate

When you open a blockchain exchange, first you need to determine where you want to operate the blockchain exchange. According to the data survey, now the tuyere of blockchain development technology is opening, and there are many urban layout blockchain fields. Most projects in Beijing are blockchain exchanges, but the policy layout is early and the supervision is strict. We should choose the place where the exchange is set up, so as to add a sense of security for the exchange investors under your name.
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 Step 2: understand the relevant laws and regulations of each region**

Each region has a different attitude towards blockchain exchanges. Some regions have a more positive attitude, but there are many areas that restrict the development of blockchain industry. I believe that with the opening of blockchain outlets, there should be few areas that restrict the development of blockchain industry. When we open a blockchain exchange, we must obtain local permission and approval. In order to prevent the exchange from using it to launder money, the laws and regulations of blockchain exchanges vary from government to government. Therefore, you need to comply with the regulatory system of your country and region, and integrate appropriate customer verification procedures in your exchange.
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  Step 3: find cooperation with banks or payment processors**

Each exchange needs to work with banks or payment providers to function properly, because payments are made in legal tender. So it is necessary to choose a reliable bank or payment processor to cooperate. There are still certain requirements for looking for cooperation. Not all banks meet the requirements. What are the requirements? Fast customs clearance and settlement funds can be automatically added and withdrawn through the payment gateway, and manual remittance must be supported if necessary.

Step 4: create liquidity

Liquidity is the basis for the successful operation of each blockchain exchange. Then we need to promote liquidity. First, we need to simulate trading activities in the exchange by trading between two manual accounts in the exchange. Second, we need to implement an API interface to connect the currency exchange to another existing exchange. Third, we need to join the whole cryptocurrency trading network, which links the liquidity of all exchanges in the network. The larger the network, the better the liquidity.

Step 5: protect customer data

The security of an exchange is what customers see. We judge the quality of an exchange from the perspective of security. The first thing an exchange needs to ensure is the security of its customers’ private data, such as their KYC details and bank account information.
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  Step 6: establish customer support channels**

Customer experience is also the focus of the exchange’s operation, but even if there is customer support, it needs to follow the process, such as staff to approve KYC requests, answer customer complaints, handle deposits and withdraw legal currency.

The tuyere of blockchain is opening, but if you want to join in the field of blockchain, you should first understand the development technology of blockchain. There are many blockchain exchanges now, but it is not easy for you to operate a blockchain exchange well. Only by continuous learning can we stand firm in the field of blockchain.