How to Start a Cryptocurrency Exchange in Estonia
Why to invest in cryptocurrency?
If there is such a thing as an appropriate time for setting up a business, as regards cryptocurrency business it’s here and now.
The worldwide economy has been taken over by cryptocurrency which is rapidly gaining more popularity. While there are some debates around the fragility of the cryptocurrency market taking place, people benefit from making investments in cryptocurrency. Cryptocurrency surpasses traditional paying methods due to its multifaceted advantages among which are availability, reliability and independence. In parallel with allowing enterprises to invest cryptocurrency provides a modern way to earn money.
Why to build your company in Estonia?
Estonian cryptocurrency market attracts investors from across the world for a number of reasons. Being a matter of law cryptocurrency business in Estonia have certain advantages.
Please find essential information regarding the steps that need to be made to create your own cryptocurrency exchange below.
Obtaining a cryptocurrency exchange licence is a priority or better to say an absolute obligation when starting a cryptocurrency business. Company in Estonia OÜ assists enterprisers in getting legislation approved cryptocurrency licenses. Our professionals will supervise the entire process starting with the very first documents and ending with a rightful license.
The state fee for submitting an application is 3,300 EUR. Application must include the contact details of every referred individual as well as the address of the future website/platform.
The issuance of a cryptocurrency exchange license is possible only when future company comply with the following conditions:
- Registration on the territory of Estonia
- Location of the Board and place of business must be in Estonia
- Company’s minimum share capital must be not less than 12,000 EUR
- Active bank account in a financial institution registered in Estonia
- KYC/AML officers required to undergo an interview with the FIU
No sooner than all requirements are satisfied, a cryptocurrency license will be issued for a timeless period within 60 working days.
Setting up a cryptocurrency exchange in Estonia is a responsible action, yet it will become a profitable investment under the supervision of our company specialists.
Company in Estonia OÜ offers a wide range of additional services, such as assistance in office rental; assistance in making company share capital contribution; assisting in recruiting company director with Estonian residence; training of a company head as well as KYC/AML office services. Please familiarise yourself with our price list by clicking the link.
After obtaining a cryptocurrency license enterpriser should focus on the technical aspect. Software development as well as the creation of a platform takes effort and time. It includes the setup of a personal user account, creation or rental of trading platforms, and also an integration of exchange into the existing market the so-called promotion. The development of proprietary software is time-consuming so it is reasonable to consider purchasing something already on the market.