Well, it is a new theoretical concept for a exchange and trading platform. It might work as you think but as long as the site is not available, it is hard to give a conclusive opinion.
I usually like to try the service in live mode. In theory, much sounds good.
Topic: Coinstir, the best bitcoin to altcoin platform yet (Read 638 times)
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Coinstir is an innovative new way to exchange bitcoin to alternative currencies. Most other coin swapping services pull from pools creating restrictive volume limits. With coinstir there is never coins on hand, we opperate as a service that exchanges your coins with a third party. This creates many advantages ranging from security, low fees, protection from market volatility and the handling of high volume transactions.
What is a "pool" based exchange platform?
Other coin swap platforms rely on holding coins to distribute to users. This approach although offers quick swap times is vulnerable to many key factors. Firstly, as most people who have used bitcoin as a currency will know, virtual currencies tend to be extremely volatile. Handling enough bitcoins to sustain high volumes of transactions leaves the site extremely susceptible to market fluctuations. Secondly, holding large amounts of coins not only leave this platform vulnerable to market swings, it also creates a huge security risk. With no float it ensures that coins cannot go missing. Finally, privacy. Pool platforms mix your coins with other user's coins. This puts users at risk of recieving potentially risky coins.
How Coinstir works
Coinstir offers a new way to swap coins quickly and effectively. The user inputs the coin they would like to receive and their exit wallet address. There is no need to enter an amount and be rushed to send to an address that is seconds away from expiring. After these details are entered the user is generated a unique wallet to send their coins to. Once the coins are received a purchase of their desired coins is made based on the amount recieved. Coins are then deposited to the end address.
Time Frame
as soon as we receive your coins in the intermediate wallet your swapped coins are withdrawn and you'll receive before one confirmation (>10 minutes).
Long Term Swap Accounts
businesses that currently accept bitcoin can make an account and use that generated intermediate wallet at any time.
A user may have as many generated wallets as they like. The generated wallet is setup to automatically swap coins. Each generated address can be set to accept a coin swap it to a set coin and withdrawn to a set final address
That means no need to maintain or use third party api's !! A reliable wallet that instantly swaps coins 24/7
Volume
With Coinstir the user is never limited to a maximum amount of coins that can be exchanged at one time due to pool sizes. Coinstir doesn't act until connected with the user ensuring that even the highest volumes of transactions can be held at anytime 24/7.
Fees
Fees are based on the transcation's miner fee, a .2% fee to exchange with the third party then our house fee. We deposit your funds before they have fully entered the system leaving the user safe from any market shifts and long transaction wait times, we chose to take this risk to ensure user safety.
Coins
BTC to BTC BTC to LTC and LTC to BTC
BTC to NMC and NMC to BTC
BTC to NVC and NVC to BTC
BTC to PPC and PPC to BTC
this is subject to change based on user demand and the third party we work with and continue to expand by the day.
Privacy
Privacy is huge with coinstir and we wanted to poll the users to find out what is in demand. There is two options to take. Unfortunately until there is a significant user base we cannot offer both options as we do not have the user volume to sustain both. Essentially we can offer decreased privacy protection and allow users to determine their own input amounts and although that effectively acts as a significant layer of privacy(still better than anything offered right now) increase it is not perfect. Option 2 fully combates and operates as a bulletproof mixer that restricts the amount the user wants to mix into a single interval (ex. the user can only mix .5 btc) and the transaction time might increase slightly. This would effectively treat blockchain analysis as useless, logging practices, everything.
To conclude, we want to know if the user would rather choose to enter any amount and be susceptible to potential technical anylasis or only be allowed to exchange certain amounts and have complete privacy.
email [email protected]
Any and all donations help support my project, thank you!
1JYrtwCMM3WtPZiGut7NzaBgDsUhGHJR3v
looking to get first opinions from you guys. Q/A would be great.
Coinstir is an innovative new way to exchange bitcoin to alternative currencies. Most other coin swapping services pull from pools creating restrictive volume limits. With coinstir there is never coins on hand, we opperate as a service that exchanges your coins with a third party. This creates many advantages ranging from security, low fees, protection from market volatility and the handling of high volume transactions.
What is a "pool" based exchange platform?
Other coin swap platforms rely on holding coins to distribute to users. This approach although offers quick swap times is vulnerable to many key factors. Firstly, as most people who have used bitcoin as a currency will know, virtual currencies tend to be extremely volatile. Handling enough bitcoins to sustain high volumes of transactions leaves the site extremely susceptible to market fluctuations. Secondly, holding large amounts of coins not only leave this platform vulnerable to market swings, it also creates a huge security risk. With no float it ensures that coins cannot go missing. Finally, privacy. Pool platforms mix your coins with other user's coins. This puts users at risk of recieving potentially risky coins.
How Coinstir works
Coinstir offers a new way to swap coins quickly and effectively. The user inputs the coin they would like to receive and their exit wallet address. There is no need to enter an amount and be rushed to send to an address that is seconds away from expiring. After these details are entered the user is generated a unique wallet to send their coins to. Once the coins are received a purchase of their desired coins is made based on the amount recieved. Coins are then deposited to the end address.
Time Frame
as soon as we receive your coins in the intermediate wallet your swapped coins are withdrawn and you'll receive before one confirmation (>10 minutes).
Long Term Swap Accounts
businesses that currently accept bitcoin can make an account and use that generated intermediate wallet at any time.
A user may have as many generated wallets as they like. The generated wallet is setup to automatically swap coins. Each generated address can be set to accept a coin swap it to a set coin and withdrawn to a set final address
That means no need to maintain or use third party api's !! A reliable wallet that instantly swaps coins 24/7
Volume
With Coinstir the user is never limited to a maximum amount of coins that can be exchanged at one time due to pool sizes. Coinstir doesn't act until connected with the user ensuring that even the highest volumes of transactions can be held at anytime 24/7.
Fees
Fees are based on the transcation's miner fee, a .2% fee to exchange with the third party then our house fee. We deposit your funds before they have fully entered the system leaving the user safe from any market shifts and long transaction wait times, we chose to take this risk to ensure user safety.
Coins
BTC to BTC BTC to LTC and LTC to BTC
BTC to NMC and NMC to BTC
BTC to NVC and NVC to BTC
BTC to PPC and PPC to BTC
this is subject to change based on user demand and the third party we work with and continue to expand by the day.
Privacy
Privacy is huge with coinstir and we wanted to poll the users to find out what is in demand. There is two options to take. Unfortunately until there is a significant user base we cannot offer both options as we do not have the user volume to sustain both. Essentially we can offer decreased privacy protection and allow users to determine their own input amounts and although that effectively acts as a significant layer of privacy(still better than anything offered right now) increase it is not perfect. Option 2 fully combates and operates as a bulletproof mixer that restricts the amount the user wants to mix into a single interval (ex. the user can only mix .5 btc) and the transaction time might increase slightly. This would effectively treat blockchain analysis as useless, logging practices, everything.
To conclude, we want to know if the user would rather choose to enter any amount and be susceptible to potential technical anylasis or only be allowed to exchange certain amounts and have complete privacy.
email [email protected]
Any and all donations help support my project, thank you!
1JYrtwCMM3WtPZiGut7NzaBgDsUhGHJR3v
looking to get first opinions from you guys. Q/A would be great.
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