How to Start a Cryptocurrency Exchange in Estonia
WHAT ARE THE BENEFITS OF INVESTING IN CRYPTOCURRENCIES?
When it comes to cryptocurrency business, there is no better time than now to begin.
Cryptocurrencies are taking over the world economy, and they are gaining popularity rapidly. The cryptocurrency market is fragile, and there are some debates surrounding it, but people benefit from investing in it. The benefits of cryptocurrency far outweigh those of traditional payment methods, including its availability, reliability, and independence. Cryptocurrency can also provide a modern way of earning money along with enabling enterprises to invest.
WHAT ARE THE BENEFITS OF BUILDING YOUR COMPANY IN ESTONIA?
There are a number of reasons why investors from around the world invest in the Estonian cryptocurrency market. In Estonia, cryptocurrency businesses are legal and have certain advantages.
Among them are:
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. Wisor Group 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
HOW IT WORKS
In the following section, you will find a detailed description of the steps that you need to take to set up your own cryptocurrency exchange.
The acquisition of a cryptocurrency exchange licence is a priority, or better said, an absolute requirement when starting a cryptocurrency business. Wisor Group OÜ assists enterprises in getting legislation approved cryptocurrency licenses. From the very first documents to the rightful license, our team of professionals will oversee the entire process.
A state fee of 3,300 EUR is required for the submission of an application. In addition to the contact information for all individuals referred, the application must include the URL for the future website/platform.
Cryptocurrency exchange licenses can only be issued if the future company meets the following requirements:
- The registration process in Estonia
- There must be an Estonian Board of Directors and a place of business in Estonia
- A minimum of 12,000 euros of share capital is required for the company
- Financial institution registered in Estonia with an active bank account
- In order to obtain KYC/AML certification, officers must interview with the Financial Intelligence Unit
Once all requirements have been met, a cryptocurrency license will be granted within 60 working days after the application has been approved.
Our company specialists will supervise the installation of a cryptocurrency exchange in Estonia so that it becomes a profitable investment.
An additional range of services is offered by Wisor Group OÜ, including assistance in renting office space, aid in contributing to the company’s share capital, assist in recruiting company directors with Estonian residence, train company heads, and provide KYC/AML office and accounting services. We have provided a link for you to familiarize yourself with our price list.
Aspects of technology
Enterprises should focus on the technical aspects after obtaining cryptocurrency licenses. It takes time and effort to develop software and create a platform. This involves setting up a personal account, creating or renting trading platforms, and integrating the exchange with the existing market, also known as promotion. In order to save time and money, it’s reasonable to purchase something already available rather than developing proprietary software.