a bitcoin exchange is not something that you can afford to be cheap about its security. searching the internet and finding random newbies or random not-reviewed source codes is like begging to be hacked on the first day. you'll also need a much bigger budget than $10k to hire competent developers and security experts to both design and maintain a secure platform constantly.

It's a bit like saying 'Amazon is doing really well. I think I should start one too.' It seems like a no brainer until you actually think it through.

I remember using somewhere that was clearly working hard to succeed. It wasn't a con, the owner was responsive. As exchanges go it was better than some of the big ones. Out of curiosity I added up all its volumes, which were clearly not faked, and the owner was earning about $10-15 a day. That's after no doubt months or years of work and a lot of outlay in time or labour.

You may not need to care about legality if you start off small, enough places ignore that. If you start to make proper money then you certainly will and that could cost tens or hundreds of thousands or millions of dollars depending on where you are.

The one you cannot ignore no matter what is security. There are thousands upon thousands of people scouring the crypto space looking for ways to drain money from exchanges. You'd better be seriously good at fending them off otherwise you're looking at rapid ruination.

When I read the name of the thread I thought it would be about investing in bankrolls of top crypto exchanges, and that certainly sounds like an opportunity worth considering. A few years ago I had thoughts about investing into casinos, but found out that if you choose a top casino, the yearly returns are very small, especially given the volatility of Bitcoin. I am not sure it's possible with crypto exchanges, however. If it is, perhaps we could discuss that here. As for spending $10k on an exchange of your own, I agree with others that it sounds like a terrible idea. The market is very competitive, reputation is everything (and building one is hard), security has to be on top (otherwise you'll get in a lot of trouble because of hackers), depending on the region you might have serious legal problems.

If he wants to run the exchange as legit as possible, securing licenses is one of the initial steps that he needs to embark on. And there's a lot more in it not just buying the code. I hope the OP realized what it needs  to run a legit and decent exchange. Even after setting this up, there are a lot of things to do. Or if he wants to run a substandard exchange without any existing license under it, maybe he can. But in the long run, traders will not trust this exchange and so it will just bite the dust of crypto.

Yeah, that's right. Don't risk your money for a bitcoin exchange which is not that safe and secured enough. I want you to think critically before engaging to that. Bitcoin exchange is not the only thing you can do, there are a lot of coins that you can try in the exchange. You need a lot of maintenance and effort in order for your bitcoin exchange to become worth it and successful.

Are you aware about those exchange that failed?

Try to seek more information about bitcoin exchange, by that, you will have some idea about the advantages and disadvantages of bitcoin exchange in your asset. You need to learn a lot of details in an exchange that's why you need to do some research.

Technically, yes. But in the case of OP, it looks like he/she is going to need more experience in how startups work, rather than just-buy-the-code-and-run-the-exchange. I'm not saying that OP should give up on this goal, I'm just saying that he/she should calm down and start slow. Probably getting a job on a fintech company would give him/her a lot of knowledge on how things work in a company, rather than just going in blind.

You can have your own exchange, but you need to have a lot of money as a start because you need to buy or create the source code, hire some people to manage your exchange, and set everything. That will not be easy if you don't have a basic knowledge about programming or don't know much about the website. But you can buy the source code from the third party, so you only need to install the source code in your server, and test it before you launch your exchange.

But I don't suggest you buy the exchange source code from that website because you don't know if they give the right source code. It's better to research from the other similar website so you can get more information about the source code, and who knows, you can get the recommended website that selling the exchange source code.

I would say, it would not be a one time investment since an exchange requires continuous maintenance and upgrades over the period of time.
Also, it requires trusted team members to manage the whole exchange and you can't compromise on anything for security.
Though you think that it will be a good investment but it will also bring in more responsibilities since you are directly investing into a business.
And business requires skill, experience, time and efforts without which your investment would be at stake.

Its a can of worms, stay away from that. Exchanges are nightmares; legal, security, financial, etc etc etc.

And it takes only one mistake for the whole thing to break down. There is a long history of failed exchanges out there, that should teach something. Even established exchanges are very dangerous and can collapse at any moment without warning, as it has happened before and will happen again.

Opening a bank is probably easier, or a casino for that matter, and safer.

Make a perfect exchange and the simple lack of volume kills it. I don't think you could successfully make a new exchange without having some sort of large company already invested in something else backing it up. And even with that, its no guarantee.

If you spend that amount in bitcoin, and look at it next year, or in the next three years, you'd probably have made more, even if not by much.