Self built digital currency exchange

2. Although all websites and platforms related to digital currency trading and ICO projects have been blocked in China, the role played by exchanges in the field of digital currency is very important, so it has to be mentioned
Why do digital currencies need exchanges
as we all know, digital currency is based on blockchain technology and platform, and it is also one of the most typical applications of blockchain
taking bitcoin as an example, its platform provides the function of transferring money among users, but it does not provide the function of transaction and payment, which makes bitcoin unable to communicate with the outside world, let alone circulate, and thus cannot become a real currency
in order to solve this problem, the exchange was born
role of the exchange:
in addition to the above-mentioned trading and payment, the specific functions of the exchange are roughly asset management, matching trading and asset clearing, etc. To put it bluntly, it is equivalent to the Bank of digital currency. The matchmaking transaction here is actually to exchange for other currencies, such as bitcoin for Leyte. Of course, there are also some basic functions such as recharge and cash withdrawal. In principle, it is a centralized account book without being linked

on the other hand, the exchange also plays the role of stock exchange, making ICO (initial token issue) project possible
all kinds of token (token or token) can be raised and issued through the exchange
at this point, some people certainly think that the exchange is a combination of banking and securities trading
but not only that, the exchange also has the functions of futures and financial management, which means it also has the attributes of financial institutions such as futures exchange, securities companies and fund companies
it is not enough. In fact, the exchange also has the function of supervision, because there is no supervision. Therefore, the digital currency exchange can be regarded as a super financial center

the centralized exchange plays an important role, which obviously brings many security risks and trust crisis
all these are closely related to the violation of the "decentralization" advocated by blockchain
fortunately, some "decentralized" exchanges have emerged, which are based on the blockchain platform and rely on smart contracts to achieve the purpose of automation, de trust and transparency

let's briefly talk about how to build an exchange. Generally, a subject is registered first, such as the Singapore foundation, because the Singapore government encourages the development of blockchain, and high-quality project parties are registered in Singapore, which can be more recognized in the instry

the Singapore foundation can register by providing a company name and identity information of directors, and then it can do some legal compliance, which is also the advantage of the Singapore foundation. It can issue effective legal opinions to make the project compliance.

3. Currency transaction
currency transaction is mainly aimed at the transaction between digital currency and digital currency, in which one currency is used as the pricing unit to purchase other currencies. The currency transaction rule is also to complete the matching transaction according to the price priority and time priority
C2C transaction
both sides of the transaction release the transaction information of buying or selling currency on the C2C transaction platform according to the demand. The buyer and the Seller shall make payment according to the reservation. When the transaction is completed offline, the platform, as an intermediary, charges a certain percentage of the handling fee from each successful transaction
OTC OTC trading
is a set of offline purchase digital currency platform independent of the exchange. Anyone can publish purchase / sale advertisements on the platform. The purchase / sale users can purchase / sell through offline transfer. After the transfer, the platform will transfer the frozen digital currency to the buyer.

4. China does not support the registration of trading platforms for the time being. The Chinese currency trading platforms that can be registered in Samoa are mostly registered abroad

5.

Binance exchange, with rapid development, has become one of the top five exchanges in the world in just half a year. Unlike idcm.io, which was the first to support vhkd, binance directly issued its own token BNB and launched the exchange

advantages: large trading volume; Support multiple computers and mobile phones; Multi language support; More currencies: 99 cryptocurrencies such as BTC, ETH, LTC and BNB are supported, 235 paired trading markets are available, and the service charge is low; It's faster to recharge and withdraw money

disadvantage: they have no futures and OTC trading, and only support currency trading, and stopped the service to domestic users some time ago, so domestic users need to choose carefully. At the same time, because binance is an exchange trading platform, it cannot be traded directly with legal currency, so it needs to use other platforms to buy cryptocurrency

it's not very convenient to recharge it to coin an network. In addition, in February and March of this year, binance suffered serious security incidents and hackers' leek cutting attacks, and its security performance was questioned

extended information:

the process of digital currency trading through the platform is as follows:

(1) investors should first register accounts, and obtain digital currency accounts and US dollar or other foreign exchange accounts

(2) users can buy and sell digital currency with the money in their cash account, just like buying and selling stocks and futures

(3) the trading platform will sort the buying requests and selling requests according to the rules and start to match them. If they meet the requirements, the transaction will be concluded

(4) e to the difference between the buy and sell volumes submitted by users, a buy or sell request may be partially executed

the mode of digital currency trading through operating companies is as follows: take Ruibo coin as an example, Ruibo coin is operated by professional operating company opencoin, ripple protocol was originally designed based on means of payment, and the design idea is based on acquaintance network and trust chain

to use ripple network for remittance or loan, the premise is that in the network, the payee and the payer must be friends (mutual trust relationship is established), or have common friends (trust chain is formed through the transmission of friends), otherwise the trust chain between the user and other users cannot be established, and the transfer cannot be carried out

6. It depends on which platform you want to go to. There are different ways to go without a platform. I know that z and B can submit applications directly on the web page

7. 1、 Digital currency ICO is illegal in China
in September 2017, the central bank issued an announcement on preventing the financing risk of token issuance, which formally determined that ICO is illegal financing without approval, and no organization or indivial is allowed to participate
later, on April 23, 2018, it was announced that the left and right digital currency ICO platforms had all withdrawn from the Chinese market, so the current ICO is illegal in China< Second, digital currency exchanges are prohibited in China.
after announcing that ICO is an illegal financing activity, the central bank also listed services such as trading, exchange, pricing and information intermediary for virtual currency as prohibited items, which means that digital currency exchanges are illegal in China
the trading platforms including bitcoin China, okcion, and fire coin all announced to stop the RMB recharge business in 2018, and closed the trading platforms one after another. As of April 2018, all digital currency exchanges have completely withdrawn from the Chinese market
Third, the central bank has not yet issued legal digital currency
so far, the central bank has not issued legal digital currency. If you are recommended to buy a digital currency "authorized or issued by the central bank", it must be a fraud platform
conclusion: there are no relevant laws and regulations for digital currency in China, but according to the documents issued by the central bank, the state is very cautious about digital currency, especially the digital currency issued by indivials.

8. There are no more than three kinds of profit and loss: profit, loss and balance. In all three cases, the user's transaction fee can be charged
assume that the current BTC price is 4000 and the handling charge is one thousandth. The first-hand transaction fee is $4. In the case of profit and balance, it is profitable for the exchange. In two-thirds of cases, it is profitable, and there is a mechanism of position explosion. So you make money anyway. If you want to open an exchange, please contact me

9. At present, Estonia, the United States, Australia and Canada are more popular places to apply for licenses. There are some differences in the application time, process and fees in each place. Let me take Estonia as an example. Estonian licenses are divided into digital currency transaction licenses and digital wallet licenses, and the application time is 2-3 months. If you want to apply for a fast time, the U.S. license is relatively fast, basically 4-6 weeks under the license
the Republic of Estonia is one of the three Baltic states in Eastern Europe. It faces the Baltic Sea in the west, the Gulf of Finland in the north, and Latvian and Russian borders on the South and East respectively. In 1991, after the declaration of independence of Lithuania, Estonia became independent, with Tallinn as its capital
the name of Estonia (Eesti) may come from the people called aestii described in the Germanic chronicles by Tacitus, an ancient Roman historian. Although Estonia is generally poor in resources, there are still a small number of resources with rich varieties on its land
the country also has a large amount of oil shale and limestone, as well as forests covering 47% of the territory. Because of its fast-growing economy and advanced information technology, Estonia is often referred to as & quot; The Baltic tiger;, The world bank lists Estonia as a high-income country
first of all, the intellectualization with blockchain technology as the core. Estonia should be the first country in the world to use blockchain technology, and ensure that the public data of the country can be stored on the distributed data network through xroad system. On the basis of blockchain technology, a relatively complete intelligent system has been built
information required for applying for Estonian blockchain license
Company's internal control rules, company's internal procere rules, company's website address, name and contact information of the person in charge of providing services, about the person designated to prevent money laundering and terrorist financing, about the person appointed by the operator responsible for implementing international financial sanctions in accordance with Estonian legislation Certificate of criminal record of the beneficial owner
for shareholders and directors, a of a valid passport notarized in English and a of proof of residence address (e.g. no more than professional reference letter, bank statement certified in English and a notarized of University Diploma in English) should be submitted
for application, it is mainly based on their own needs and budget, I hope I can help you

10. No. Now you see the most domestic these are fake, fraud agencies