Topic: [ANN] - TagCash Crypto Exchange (Read 1394 times)

Well..we do plan on making it a lot simpler, you can see the buy / sell button already on the details when selecting your currency in the TagBank... and we are creating a cut down version of Tagbond called Tagcash.com (which uses the same codebase just strips away all the tagverts, and excess). Tagcash will be push as an alternative to Paypal and Western Union, and other emoney wallets integrated with it, but that will also feature the same system for buying and selling of Crypto.

As soon as we have finished the method of deposit and withdraw of crypto for TAG and BTC, we will add most of the other currencies around. Then you can get a deposit address and give this out, and we manage the wallets, but at any time you can withdraw it. We might put a small fee of .005 of any currency for withdrawal, and for merchants using the system we would charge 1% fee on inward transactions. Withdrawals over a certain amount we would manually have to approve because we don't want a lot in the hot wallets.

As for pitiful amounts of TAG being traded, that's because people are hanging on to it..not something I wanted but we will see what happens when companies start using TAG in earnest to give and take as rewards currency. Seems to be a bit more action in TAG on btc38.com...

I'm not a big fan of the Bter code, glad you're starting afresh even if it means a simpler system. Definitely hope the exchange turns out to be stable. I'd like to invest significantly into TAG because of the entire project's transparency and plans to establish an actual currency, but all of the exchanges it's on ATM are shady and trade pitiful volumes.

yes..pretty much...it was a stopgap, but I wanted something much simpler...my market is not really to build exchanges, but to enable easier buying of cryptocurrency and use within a ecommerce platform...

So you're going to do away with the BTER code, and build from the ground up?

Not so happy with the software currently running at trade.tagbond.com so we are creating a simpler system to buy and sell crypts for different fiats, from within the tagbond system , in the tagbank area. That way you have your wallets and can place simple buy/sell orders...no need for anything else complex at this point..we are working on that this week. Once we have TAG and BTC sorted we will add another 25 currencies or so, one at a time..

Also looking to integrate with other emoney wallet systems around the world, to solve the current problem of buying with small amounts of money...

hey Mark, Any update, how goes it so far.

It's going to be slow for a while, but we will get there. The exchange is not meant for us to make money from it, but as a way of getting crypto or cash into our system to be used for rewards, payments etc.

This is a great service, Tagbond.  There is a lot of frustration with moving from fiat -> crypto -> fiat.

I think this site is going to explode when people realize they can do these exchanges quite easily, and cheaply, there.  Kudos, mate!

UPDATE on TagCash Crypto Exchange

Making good progress, the Tagbond login details and the wallets have been connected to the exchange server, and the adding and withdrawing of crypto funds is working. 9 foreign currency accounts are offered with Standard Chartered Bank (USD, GBP, EUR, NZD, AUD, SGD, HKD, JPY AND PHP), and we will support DGC, XPM, PPC, LTC, TAG and BTC against BTC/LTC/TAG and against each of the 9 currencies

No fees for trading, deposits and withdrawals of crypto are free, wire deposits of fiat will be USD $15 and withdrawal is USD $25. We are also encouraging the use of crypto within the Tagbond rewards / merchant system as a currency of choice. Customers that deposit either Fiat or Crypto will be able to transfer to other members, use within Tagbond to give as rewards, or charge/pay for products and services offered by anyone using the platform. No merchant or transfer fees - a percentage of customer rewards is shared by Tagbond on 80/20 basis.

There will be limited crypto held in hot wallets on connected servers, most will be held in cold storage.

TagBond Ltd and TagCash Ltd are SEC companies registered in Makati, Philippines with fully paid up capital for TagCash Ltd at 100m Pesos (USD $2.4 million) - TagCash Ltd is also processing it's electronic money application and is expected to receive it within the next 60 days, not that it needs it for trading, but it is needed for local cash in and cash out operations in PHP. Deposits are ringfenced and any other operations do not impact on TagCash Ltd. By central bank regulations, all computerized balances must match funds on deposit and the Central Bank audits that on a regular basis. If anything untoward happens, TagCash funds by law have to be returned to owners.

TagCash will either obtain licensing in different countries/jurisdictions or work with EMI / MTL partners (including each state in the USA). Any interested parties please PM me.

TagCash is wholly owned by Mark Vernon, British Citizen, resident in Philippines.