A good feature but you need to be wary of the third party, you basically still need to trust them, especially since it's not mentioned as an open source or i don't know.
Having a closed source in an open source environment seems like ironic to me.
Topic: AnonPay: BTCPay Server plugin that accepts any crypto and converts it into BTC (Read 179 times)
February 07, 2023, 05:59:12 PM
February 07, 2023, 06:15:15 AM
Why not just use a DEX for exchanging instead?
This would be the ideal approach. I am by far an expert on the matter since I have zero interest in the vast majority of altcoins, but I was under the impression that there are decentralized exchanges which have trustless methods of automatically swapping one coin for another, via atomic swaps, smart contracts, and similar. If you employ one those, so that there is absolutely zero chance of the customer's coins being frozen and absolutely zero chance of KYC being demanded, then this would be a great service for a merchant. People can pay with whatever shitcoin they like, and I can receive bitcoin in return.So they could just use Uniswap or 1inch, or any other DEX that offers an API, and the only disadvantage would be that the customer has to wait slightly longer for the payment to be settled (in practice, not much, since most of these altcoin networks have fast confirmation times).
February 07, 2023, 06:00:30 AM
Why not just use a DEX for exchanging instead?
This would be the ideal approach. I am by far an expert on the matter since I have zero interest in the vast majority of altcoins, but I was under the impression that there are decentralized exchanges which have trustless methods of automatically swapping one coin for another, via atomic swaps, smart contracts, and similar. If you employ one those, so that there is absolutely zero chance of the customer's coins being frozen and absolutely zero chance of KYC being demanded, then this would be a great service for a merchant. People can pay with whatever shitcoin they like, and I can receive bitcoin in return. February 07, 2023, 05:40:27 AM
The whole concept is a good idea, but the risks involved in the current implementation are too high.
The risk in using any implementation that relies on centralized exchangers to convert customer funds is too high. Why not just use a DEX for exchanging instead? I don't believe that DEX's can freeze any funds, and if trading volume is low, as a result preventing you from converting the coin, you can just send the original cryptocurrency back to the user's source address.
February 05, 2023, 08:51:45 AM
Now, you are asking them to automate conversions using a 3rd party exchange. Where things CAN go wrong, KYC can be sprung on you and so on.
From what I've seen and understood there, this AnonPay is an app of Trocador, and this Trocador is an "exchange aggregator".
Yeah, this is a big issue, and as a merchant you must inform your customers that this is what is happening before you allow them to pay.Let's say I go to a merchant and pay in bitcoin, and my bitcoin was actually sent directly to some third party exchanger to swap it for some altcoin that the merchant wanted instead. That third party exchanger takes some issue with my payment, so freezes my payment and demands KYC, which I'm not going to provide. I'm now out of pocket and the merchant will refuse to hand over the goods, since my payment hasn't reached him. But I would still blame the merchant for this, for if I knew what was happening and that my coins being frozen were a possibility at all, I'd never have used said merchant in the first place. There have been more than a few scam accusations I have seen against such exchange aggregator sites because of exchangers they have listed freezing funds for arbitrary reasons, and usually the exchange aggregator is less than helpful in resolving them.
The whole concept is a good idea, but the risks involved in the current implementation are too high.
February 05, 2023, 02:54:19 AM
I have been trying and failing to get better rates on the Trocador app compared to what you would get if you went to the official websites of the suggested instant exchanges. Swapuz and StealthEx (B-rated exchanges) always give me better rates for a BTC>XMR exchange on the official sites.
I have been refreshing and trying for a few minutes now and not once did Trocador app offer more favorable rates. I am questioning their "we charge no fees" statement.
February 04, 2023, 09:44:11 PM
The service looks good considering that any altcoin can be converted into bitcoin and sent to a wallet without the need for centralized exchanges.
But the problem remains in the presence of third-party services that are similar to exchanges in many disadvantages, for example, you can clearly see that the third-party provider can request KYC at any time and that some third-party services of type (D) can request KYC At any time they can also block the funds if refused.
But the problem remains in the presence of third-party services that are similar to exchanges in many disadvantages, for example, you can clearly see that the third-party provider can request KYC at any time and that some third-party services of type (D) can request KYC At any time they can also block the funds if refused.
February 03, 2023, 01:45:26 PM
I would *think* that if I was doing something like this I would want to do my own exchanges. But, that is just me.
From what I've seen and understood there, this AnonPay is an app of Trocador, and this Trocador is an "exchange aggregator". So I guess that they earn from the exchanges they use (and what's sweeter than hassle free money?)
Their API docs tell that the chosen exchange can be found/seen, but it looks like it can be seen only for trades already done (see GET method trade). I didn't find any way the caller can pick the desired exchange.
February 03, 2023, 01:24:55 PM
Looks interesting, AND I LIKE THE IDEA but I think this is an answer in search of a question.
If you are running BTCPay you probably are doing more yourself then someone who is using another gateway to process their transactions.
Now, you are asking them to automate conversions using a 3rd party exchange. Where things CAN go wrong, KYC can be sprung on you and so on.
I would *think* that if I was doing something like this I would want to do my own exchanges. But, that is just me.
-Dave
If you are running BTCPay you probably are doing more yourself then someone who is using another gateway to process their transactions.
Now, you are asking them to automate conversions using a 3rd party exchange. Where things CAN go wrong, KYC can be sprung on you and so on.
I would *think* that if I was doing something like this I would want to do my own exchanges. But, that is just me.
-Dave
January 31, 2023, 03:00:13 PM
URL: https://trocador.app/en/anonpay/
It is BTCPay Server plugin that accepts altcoins and convert them into Bitcoin, also works with JavaScript disabled
According to them site:
Document: https://trocador.app/en/anonpaydocumentation
Reddit: https://www.reddit.com/r/Bitcoin/comments/10pz0at/new_btcpay_server_plugin_that_accepts_any_crypto/
its nice to see someone built BTCPay plugin, what do you think? It seems like a promising idea and they are trying to promote it.
I hope to see open source tools that do this.
It is BTCPay Server plugin that accepts altcoins and convert them into Bitcoin, also works with JavaScript disabled
According to them site:
- Simple Integration
- Streamlined Proccess
- Best Rate for your Clients
- No JavaScript
- Accessible through TOR
- can be integrated into any store system that accepts the BTCPay server
Document: https://trocador.app/en/anonpaydocumentation
Reddit: https://www.reddit.com/r/Bitcoin/comments/10pz0at/new_btcpay_server_plugin_that_accepts_any_crypto/
its nice to see someone built BTCPay plugin, what do you think? It seems like a promising idea and they are trying to promote it.
I hope to see open source tools that do this.
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