How to build a bitcoin exchange website?

In the realm of cryptocurrency and finance, one of the most sought-after ventures is building a bitcoin exchange website. However, the question remains: how does one embark on such a journey? First and foremost, one must consider the legal and regulatory aspects, as cryptocurrency exchanges are subject to stringent laws and policies. Furthermore, the technological infrastructure must be robust and secure, with the ability to handle high volumes of transactions efficiently. User experience is also paramount, ensuring an intuitive and secure interface for traders. Lastly, partnerships with reliable payment gateways and liquidity providers are essential to ensure smooth transactions and liquidity. Could you elaborate on the key steps and considerations involved in building a successful Bitcoin exchange website?