Hey /biz. I'm thinking about starting a virtual currency exchange. I have a point of difference between existing exchanges that i believe is big enough to make newcomers choose my exchange. For obvious reasons i decided not to share this point of difference. Has anybody had experience operating an exchange? Would you be willing to redpill me on the difficulties associated with operating an exchange.
>>1571276
a large difficulty is you need to spend lots of money on hardware like quality servers, routers, switches, firewalls etc. to have a reliable site handling lots of traffic and microsecond data updates received then transmitted to your userbase. you would most likely need to employ or contract some IT people to help you set this up, and security should be a huge concern for you.
>>1571286
The infrastructure shouldn't be a problem. I can set that up relatively easily. Have you had experience running an exchange?
>>1571290
lol of course not but I have experience trying to keep much less valuable data secure and it's a shit show. are you hiring security guys? cause you ought to be.
>>1571298
I'm going to start off small scale and see how it goes. If there is demand i will employ some security guys but at the moment its a one man show.
>>1571299
I guess it depends on your point of differentiation, but I wouldn't risk getting hacked early on. It only takes one or two hacks and your reputation is ruined. Some crypto people are smart and good with computers and if they find an exchange that is vulnerable, it will be exploited.