I, Ian, a day 1 Shibe, created Coin-Swap FOR Doge. Here is my story and some information about the exchange.
Why we made Coin-SwapIn early December I originally decided to create Coin-Swap so people could trade Dogecoin in a safe and secure environment without having to worry about scammers. When Dogecoin was released there wasn't a safe way to exchange coins without a great deal of risk. In fact, the only way to trade Doge at the beginning was a poor soul here on bitcointalk that was doing it via a Google drive spreadsheet! I came up with the idea to create an escrow service for coins so people can trade Dogecoin for other types of coins. Since then, Coin-Swap has expanded to a truly unique real time exchange with an intent to hold as few coins as possible for as short a period of time as possible.
What started as a small project I thought I could knock out in the first week of Dogecoin release, turned into a 6 week project before our first trade listed. Since that day in late January I picked up a couple people to help with the site and we have worked, behind the scenes, to continue develop and improve the site. I have not announced the exchange to the Doge community because I have waited (since December!) for it to be ready and good enough for DOGE. (seriously)
Important info about Coin-SwapCoin-Swap's new market system is going live today, March 28. Like our old system, our new exchange does not follow the typical pattern of depositing to a wallet->trading from wallet balance->request a withdrawal.
Instead, you create a market order and you are given a deposit address for that order. When that order executes, you are
paid out immediately.
We believe by allowing you to work out of your wallet it minimizes your risk.
We don't believe you should treat an exchange like a bank!Important Feature - AutoSellWhen you create a market order, you can set your mining pool payout address to this market address. You can continue to deposit coins DIRECTLY into the market. This allows you to autosell what you are mining. If your order is depleted, it will re-open when a new deposit arrives. The price will either be set at the last price you had it, or it will automatically adjust the price to the last price if that is a better price for you. Example, if you sell at one price, but the market has gone up since then, it will automatically raise your price to the last sale price for you. It will not adjust it down, even if the market drops below where your last sale price was.
Dynamic Price ChangeYou do not need to cancel and recreate an order to change the price. You can change the price of your orders at any time. Once the new API is up, you can change the price via API or our Android/iPhone app (coming soon).
To get started you need to register.
RegisterYou then need to provide YOUR wallet addresses where you will receive coins. You will need to enter your DOGE address as well as a BTC or DOGE address, whichever market you plan on using.
ProfileThen head to the DOGE markets.
MarketsAll Markets (DOGE is paired with every coin)
DOGE/BTCIf you have any issues, comments, or suggestions, please contact us and we will get back to you as quickly as possible.
Contact UsIan
Coin-Swap Team
