Business Idea

Start A Cryptocurrency Exchange Service

About

Starting a cryptocurrency exchange service requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell cryptocurrency exchange service, or selling cryptocurrency exchange service online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a cryptocurrency exchange service ➜

Key stats

market size
$1T
revenue (monthly)
$100K
starting costs
$18.5K
gross margin
76%
time to build
12 months
growth
Pay Per Click Advertising
time investment
Full time

About

Starting a cryptocurrency exchange service requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell cryptocurrency exchange service, or selling cryptocurrency exchange service online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a cryptocurrency exchange service ➜

Key stats

market size
$1T
revenue (monthly)
$100K
starting costs
$18.5K
gross margin
76%

 

time to build
12 months
growth
Pay Per Click Advertising
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $35 $3,250
Equipment & Supply Expenses $500 $5,000
App Creation Costs $1,099 $20,099
Software Expenses $150 $2,844
Advertising & Marketing Costs $0 $2,500
Website Costs $17 $275
Other Expenses $0 $300
Training & Education Expenses $0 $850
Total Startup Costs $1,801 $35,118

Successful Businesses

Business URL Rank
Binance binance.com #907
OKEX okex.com #4,236
Kraken kraken.com #4,559
KuCoin kucoin.com #5,603
Gemini gemini.com #10,451
Buy Bitcoin Online: 21+ Trusted Sites (2020) buybitcoinworldwide.com #13,909
Waves.Exchange waves.exchange #14,125
Cryptocurrency Exchange Platform changelly.com #14,188
Download the Best Crypto Wallet for Desktop & Mobile exodus.io #17,794
Bitcoin Exchange and Bitcoin Mining for any cryptocurrency eobot.com #22,789
CoinSwitch coinswitch.co #26,736

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Rewarding work Starting a cryptocurrency exchange service can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Traffic to your website A cryptocurrency exchange service gives people a reason to visit your website and to keep coming back to you!
No overhead costs To get your cryptocurrency exchange service started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your cryptocurrency exchange service, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Longer Sales Process A cryptocurrency exchange service can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Security Issues With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.
Isolation Often times, as a cryptocurrency exchange service, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a cryptocurrency exchange service, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Marketing Ideas

  • 1

    Affiliate program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Word of mouth

    The most tried and true way to grow a cryptocurrency exchange service is through word of mouth - some entrepreneurs would say it's more important than all social media.

  • 3

    Advertising on social media

    Social media advertising is one of the leading ways to get the word out when it comes to cryptocurrency exchange service.

    There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.

    Learn more about advertising on social media ➜