We present to your attention an interview with the founder and CEO of the Crypto Exchange btc-alpha.com Vitali Bodnar, Temu̲ da t'ot'e Crypto cambio ndezu̲ xí mpa.
Tema ga pädi dige ar Cryptocurrency?
Ma especialización jar Nt'uti – física, Ciencias ar computación, tecnología informática, Constantemente Nuga̲ participé jar ár nte. Ar uni bí accidentalmente leí ja ya foro dige ya bitcoin ne ya comenzó entender ar pa, lei ga̲tho dige Honja funciona.
Tema Xká tso̲kwa industria ar cifrado?
Ga̲tho comenzó ko ar hecho nä'ä di 'ya̲ni Tema gi ar minería. 'Mefa xta descubrir ar proceso ar, there was another problem – what to do with the coins that I minted. I took the money to the exchanges, nä'ä, by the way, mi mpe̲fi xkagentho terriblemente gem'bu̲. Nja'bu da pasé suavemente ma comercio.
Why did you decide that you need to create a Crypto Exchange?
Esto es debido jar ndu̲i ma fracaso. Di, ngu 'nar hogu̲da̲i ne 'nar hogu̲ma̲, pe̲ts'i 'nar conjunto nge nu'u hingi violo: Planeo ar mfembi punto salida ndezu̲ ar nt'o̲t'e, Di funciona nu'bu̲ di ’ m jár estrés, Hingi intento corregir ya defectos, ’ s mäs hei esperar, Hingi recupere da ar pa nu'bu̲ di ’ m da menos, Acabo ar cerrar ma laptop ne hingi funcionan. Ma fracaso ocurrido nu'bya ar estrés, and at that moment I broke all the other rules. I went into a negative deal, closed it in the negative, decided to recoup. For a day, I conducted 10 operations with this scenario. I lost a few tens of thousands of dollars, which I earned over a very long time.
How did this affect the creation of the Exchange?
Comencé analizar hñäki ne bí umbi nu ar nä'ä to ga tähä 'nar ma̲, wa perder ar bojä. Pe ar mpa̲ti permanece nzäm'bu̲ ja 'nar premio. Di di nu da nuna gehna bastante interesante ne ar da ne da t'ot'e ma propio cambio Crypto.
Let’s make 5 steps to create your own Crypto Exchange.
For me, the first thing is to “burn with the product.” Bí ma mpädi, conocidos, extraños, Bí xi'i ga̲tho nä'ä estuve desarrollando mpa̲ti Crypto ne necesitaba 'nar equipo, ya jä'i, bojä, ne ga̲tho xifi da 'me̲hna hindi funcionaría, pe mi pe̲ts'i 'nar nt'eme dondagi. Nga̲tho 'me̲hna bí aproximadamente jar 2014-2015.
Dá pe̲ts'i 'nar reputación positiva pa ár nte 'yot'e, ya jä'i hyandi ngut'a da hmä hingi ja ar cryptocurrency, hingi jar mpa̲ti Crypto, pe ko ngeki komongu 'nar desarrollador nä'ä to da t'ot'e 'nar producto.
Inicialmente, Dá pe̲ts'i 'nar idea da gí to da ne 'nar ready — made ar base Cryptoexchange, pa modificar 'naxtu̲i, and it will work. As with platforms for onlineshop. But such a product did not exist. Deepening into the subject, I realized that I want to write everything from scratch and understand everything in detail.
The second step?
Calculating the whole business model. At that time we used bitcoinwisdom – one of the first resources where you could see how the market is moving, and analyze everything for a day, a month, and see the volumes. Ngu, the exchange for a day conducted operations on 5000 bitcoins at a conditional exchange rate of $ 500. Exchange Commission – 0.4%. 500 is multiplied by 5000 and by 0.4 and we get a probable profit per day.
Ir, the business model for exchanges is quite simple?
Yes, I believe that if some thing is very complicated, then it will not work, only simple things work.
The third step?
Preparation of technical specifications. I must say that the initial technical assignment I created and the result obtained are fundamentally different things, for the reason that I did not understand a very large number of details, some moments that seemed to me extremely important were not important at all, and on the contrary. This is a standard story.
Tell me in more detail, how did you make the TS? Where did he get the information?
At that time, I traded on many exchanges and saw how DDoS attacks occur, saw how exchanges went bankrupt, saw when users were loyal to the exchange, and when they did not, and why it happened. I drafted the terms of reference from my experience, I made a product in which I as a trader would be comfortable. I wanted all operations to be understandable. I used the program to create an interface, where I drew 25 pages of the future site and built its logic. 'Bu̲ ma'na ar xeni, all the Cryptoexchanges are basically the same.
How often did you use ready-made technical solutions?
I wanted to use to receive and send bitcoin blockchain.info. At that time, they provided a public API. At the initial stage, it seemed to me that it was sufficient to get the best possible product with minimal expenses, and then simply to improve and improve each item. But they denied us, without explaining the reasons. I think this is one of the most successful failures that happened. We decided to figure out how Bitcoin works, and wrote our client completely from scratch, which is now constantly improving. Ar gi mö, we have our Bitcoin Wallet.
The fourth step?
This is the Team. I already had a well-coordinated team, with whom we worked on two projects. But I realized that we do not have enough experience to create a quality product in the cryptosphere. Ir, we decided to pump our knowledge with additional tasks, ngu, participated in the development of protection against DDos-attacks, services for receiving money, and so on. For three years we worked on the technical assignment and in parallel – on third-party projects to understand how everything works. Thanks to this, we also got acquainted with specialists who helped to further our project.
The fifth step?
The most banal is money. In the beginning, I was able to collect approximately $ 300,000. This is the year of the team of programmers, the minimum costs, but without regard to legal services. But it was in 2013. Now, I think, a minimum of $ 1 million is needed. We started in a different competitive environment and in other conditions, then there were only 5 stock exchanges, and now there are hundreds of them.
What is the geolocation of your users?
The whole world, but we now prohibit registration from America because of legal issues.
How many employees are involved in security?
If there is an urgent task, then the entire team is engaged in it, and no matter what time it happened.
Is there a bounty for finding vulnerabilities? And what?
The other day, paid bounty for finding the possibility of forgery e-mail administrator. In fact, they could not actually implement it, but it was theoretically possible to take advantage of this vulnerability.
And how much did they pay?
A few hundred, a small amount, since this is not a critical vulnerability. We have a list of costs for finding those or other vulnerabilities.
What are the main trading pairs on your exchange?
BTC/USD, LTC/USD, BTC/Monero, BT /Zcash.
How can I place my token on your exchange?
We have a section for adding coins, and it clearly indicates who we can add and who does not.
Thanks for the fascinating interview
Prepared by the CryptoRadio equipo