can I build a simple, fiat-free USDT exchange an for $10k? the OGs should advice please
Can I build this for $10k? just curious if it is possible?
A user-friendly crypto exchange platform that enables users to buy or sell USDT using Euro or Pounds with a straightforward interface.
Sign up and KYC: integrating industry leading KYC provider
Buy or Sell USDT: Once the KYC process is complete, users can enter the amount of USDT they wish to buy or sell. allows users to choose their preferred currency, either Euro or Pounds, for the transaction.
Payment Information: Users provide their payment information to match their selected currency. For buying USDT, users can provide their Euro or Pounds payment details, whereas for selling USDT, users need to deposit the USDT and provide their payment information for receiving Euro or Pounds.
Premiums and Reference Prices: implements a percentage-based premium for both buying and selling USDT. The premium can vary depending on the transaction amount, with lower amounts incurring a higher premium. The reference prices for USDT can be fetched from a reliable third-party source, such as Google, or manually inputted in the backend.
Simplified D2C Model: utilizes a simplified Direct-to-Customer (D2C) model, eliminating the need for complex order matching. Instead of matching buy and sell orders, maintains a pool of USDT available for sale. Any USDT bought from users is added to the pool, and this process is repeated continuously.
Fiat-Free Approach: does not hold any fiat currencies, Instead, the platform operates solely with USDT. Customers do not have fiat wallets; they only need a USDT wallet for transactions.