Topic: Creating a new service need feedback (Read 234 times)
Thanks for the feedback peeps! we are back up and running.
I personally think the fee depends on how much KYC you're going to do.
If you're not doing any KYC, then I think you can reasonably get away with a fee of between 2-5%, possibly even more in some jurisdictions.
However, if you're going with the whole KYC shabang, then you're looking at around 0.5%-2%. This will keep you competitive with platforms like Coinbase, Coinmama and CEX.
As far as I'm aware, Coinbase offers Paypal payouts for some countries, so it might be worth using that as the basis of your figures.
If you're not doing any KYC, then I think you can reasonably get away with a fee of between 2-5%, possibly even more in some jurisdictions.
However, if you're going with the whole KYC shabang, then you're looking at around 0.5%-2%. This will keep you competitive with platforms like Coinbase, Coinmama and CEX.
As far as I'm aware, Coinbase offers Paypal payouts for some countries, so it might be worth using that as the basis of your figures.
Thanks to everyone who gave feedback! We are up and launched !
I got a pal that runs a similar service for Venezuelans and his fees are usually 3%
Thanks for the heads up on what he charges. We are a bit higher because of the miner fees and we'll just ask for a tip most likely.
I got a pal that runs a similar service for Venezuelans and his fees are usually 3%
I'd like to add in terms of a fee we'd just add the miner's fee and give the option of people tipping us if they like the service. Our revenue model will be this upon opening and we'll see how it goes.
Right now the first service we are adding is Paypal/venmo ( Yes, U.S only for right now - Paypal is international ? ) and please let us know if any other services like Paypal/venmo you would like to see added. Remember, we are just a cash-out based system which means you sell us your bitcoin and we send you cash, in this case, we are using Paypal /venmo to start with and will expand outward.
We'll be adding an affiliate program + a signature bounty here on the BTCtalk forum shortly. More on this coming shortly as we have the website almost finished.
Bitcoin will be the first crypto be able to cash out but will be adding ETH, Bitcoin Cash , Litecoin and a few others.
Right now the first service we are adding is Paypal/venmo ( Yes, U.S only for right now - Paypal is international ? ) and please let us know if any other services like Paypal/venmo you would like to see added. Remember, we are just a cash-out based system which means you sell us your bitcoin and we send you cash, in this case, we are using Paypal /venmo to start with and will expand outward.
We'll be adding an affiliate program + a signature bounty here on the BTCtalk forum shortly. More on this coming shortly as we have the website almost finished.
Bitcoin will be the first crypto be able to cash out but will be adding ETH, Bitcoin Cash , Litecoin and a few others.
Trying to understand what they do ( Although I see something about bitcoin wallet to your local currency (fiat)) . It seems its cash -> btc and cash -> to every other crypto and not Btc-> cash. Also, looks like it so some weird bidding system. I dunno . Still investigating as just going by their demo videos.
We just do straight BTC-> Cash ( venmo, paypal , insert any service that sends cash here to people).
Edit: yes, seems like an escrow and hoping to find a buyer. We are the buyer and can always sell BTC to Cash with us.
~snip
Yes, that is the one downside. Do you know of some other international ones being used to send cash to people using a debit card? I'd rather expand outside the U.S too if you know if a simple service to send money Int'l by attaching a debit card let me know.
Aside from Paypal you have the option like I said to have Bank wire transfers, I don't know about the fees but it will be a quick way to send the funds to your clients you also have the option for them to be the one shouldering the fees. I think bank transfers is the best way to go since Paypal is know for their charge backs where your users might feel uncomfortable about it especially if you are a new service.
Yes, bank wires might be one way to do it.
Quote
I think bank transfers is the best way to go since Paypal is know for their charge backs where your users might feel uncomfortable about it especially if you are a new service.
Ah, this service would have no charge backs as its one direction BTC-> cash.
~snip
Yes, that is the one downside. Do you know of some other international ones being used to send cash to people using a debit card? I'd rather expand outside the U.S too if you know if a simple service to send money Int'l by attaching a debit card let me know.
Aside from Paypal you have the option like I said to have Bank wire transfers, I don't know about the fees but it will be a quick way to send the funds to your clients you also have the option for them to be the one shouldering the fees. I think bank transfers is the best way to go since Paypal is know for their charge backs where your users might feel uncomfortable about it especially if you are a new service.
Yes, that is the one downside. Do you know of some other international ones being used to send cash to people using a debit card? I'd rather expand outside the U.S too if you know if a simple service to send money Int'l by attaching a debit card let me know.
Check my signature, there you will find many swap exchangers, probably also potential competition. I guess if you contact BestChange you can get some quality feedback which can help you.
Also, I must recommend yahoo62278 as one of the leading managers on the forum. He is so experienced and also from the USA, I guess he can give provide the best service for you.
Thanks Examplens. This did have a few interesting one's to look at. Also, I'll check out the person you recommended for bounty managing. I plan on doing a two tier bounty system so it should be very lucrative for people to join.
Yes, that is the one downside. Do you know of some other international ones being used to send cash to people using a debit card? I'd rather expand outside the U.S too if you know if a simple service to send money Int'l by attaching a debit card let me know.
Check my signature, there you will find many swap exchangers, probably also potential competition. I guess if you contact BestChange you can get some quality feedback which can help you.
Also, I must recommend yahoo62278 as one of the leading managers on the forum. He is so experienced and also from the USA, I guess he can provide the best service for you.
Venmo isn't really that big outside of the United States, I don't even know if they are available in other countries or not. So maybe changing your payment method to a widely available one for sellers is a better option or at least add in some other options like wire transfers to make it widely available. But if you are solely choosing Venmo because you are focusing in the U.S. market maybe is a good choice but also you need to consider that not all people there are using their services as well so really other payment methods is a must.
Yes, that is the one downside. Do you know of some other international ones being used to send cash to people using a debit card? I'd rather expand outside the U.S too if you know if a simple service to send money Int'l by attaching a debit card let me know.
We are currently building a simple swap system from BTC -> Cash. Small amounts that are basically instant for anyone who needs quick cash. What is a fair fee for such a service? would a small monthly fee work for unlimited selling? Seems that might not work. We will be exchanging a few tokens for auto payment to you in cash to Venmo.
Also, we'll be doing a bounty/campaign here on BTCtalk can someone point me to a good manager for them or a resource explaining how they work. thanks!
Also, we'll be doing a bounty/campaign here on BTCtalk can someone point me to a good manager for them or a resource explaining how they work. thanks!
I know a lot people would be interested in this BTC -> Cash, even more if there is no KYC for some lower tiers.
I can recommend @Coolcryptovator as a bounty manager. He is DT1 member with good reputation in forum.
https://bitcointalksearch.org/topic/legendary-campaign-management-service-by-the-cryptovator-5201844
Thanks Dkbit98. No, there wouldn't be a need for KYC in all this. I'll check out @coolcryptovator .
We are currently building a simple swap system from BTC -> Cash. Small amounts that are basically instant for anyone who needs quick cash. What is a fair fee for such a service? would a small monthly fee work for unlimited selling? Seems that might not work. We will be exchanging a few tokens for auto payment to you in cash to Venmo.
Also, we'll be doing a bounty/campaign here on BTCtalk can someone point me to a good manager for them or a resource explaining how they work. thanks!
Also, we'll be doing a bounty/campaign here on BTCtalk can someone point me to a good manager for them or a resource explaining how they work. thanks!
I know a lot people would be interested in this BTC -> Cash, even more if there is no KYC for some lower tiers.
I can recommend @Coolcryptovator as a bounty manager. He is DT1 member with good reputation in forum.
https://bitcointalksearch.org/topic/legendary-campaign-management-service-by-the-cryptovator-5201844
Venmo isn't really that big outside of the United States, I don't even know if they are available in other countries or not. So maybe changing your payment method to a widely available one for sellers is a better option or at least add in some other options like wire transfers to make it widely available. But if you are solely choosing Venmo because you are focusing in the U.S. market maybe is a good choice but also you need to consider that not all people there are using their services as well so really other payment methods is a must.
Hello to everyone.
Christopher here from the Bahamas. I'm new to this and need some good advisers.
My company looking at doing a token to fund development projects. 140 acres on an island in the Bahamas. Tokenization and creating a ICO for the Taxi Industry for the Community members. Will this be off interest to others?
Christopher here from the Bahamas. I'm new to this and need some good advisers.
My company looking at doing a token to fund development projects. 140 acres on an island in the Bahamas. Tokenization and creating a ICO for the Taxi Industry for the Community members. Will this be off interest to others?
Depends on how far above sea level the islands are. Countries in the Caribbean are giving away ocean front property if you can produce something useful and temporary.
I giggled a bit lol
Hello to everyone.
Christopher here from the Bahamas. I'm new to this and need some good advisers.
My company looking at doing a token to fund development projects. 140 acres on an island in the Bahamas. Tokenization and creating a ICO for the Taxi Industry for the Community members. Will this be off interest to others?
Christopher here from the Bahamas. I'm new to this and need some good advisers.
My company looking at doing a token to fund development projects. 140 acres on an island in the Bahamas. Tokenization and creating a ICO for the Taxi Industry for the Community members. Will this be off interest to others?
Depends on how far above sea level the islands are. Countries in the Caribbean are giving away ocean front property if you can produce something useful and temporary.
Hello to everyone.
Christopher here from the Bahamas. I'm new to this and need some good advisers.
My company looking at doing a token to fund development projects. 140 acres on an island in the Bahamas. Tokenization and creating a ICO for the Taxi Industry for the Community members. Will this be off interest to others?
Christopher here from the Bahamas. I'm new to this and need some good advisers.
My company looking at doing a token to fund development projects. 140 acres on an island in the Bahamas. Tokenization and creating a ICO for the Taxi Industry for the Community members. Will this be off interest to others?
We are currently building a simple swap system from BTC -> Cash. Small amounts that are basically instant for anyone who needs quick cash. What is a fair fee for such a service? would a small monthly fee work for unlimited selling? Seems that might not work. We will be exchanging a few tokens for auto payment to you in cash to Paypal/Venmo.
Also, we'll be doing a bounty/campaign here on BTCtalk can someone point me to a good manager for them or a resource explaining how they work. thanks!
Also, we'll be doing a bounty/campaign here on BTCtalk can someone point me to a good manager for them or a resource explaining how they work. thanks!
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