If you check the business summary at a glance, you will see a business model of Wallet, Virtual cards, and Peer to peer trading (like paxful). Presently no site does the 3 at once.
And i also said, few months after launch the site will turn into a Cryptocurrency Payment processor and create public APIs but now we focusing only on Bitcoin.
Yes, there are competitors, but we widening our product offers, so we can be recognized in major Cryptocurrency business and solution. But it all starts from a block.
I think a lot investors will be needing all sorts of assurances about any business before investing.
In your case, please advise potential investors here about the legal frame work for investing.
As you mentioned to me via PMs and tawk.to/frankaiktechnologies, you are based in Nigeria. Many potential investors will reside in Europe or the US/Canada.
In order to raise your profile and have potential investors in to actual investors, please explain in detail:
1. exactly how much the legal fees will be for the partnership paperwork
2. how you intend to set up the company offshore and in which country and associated costs
3. you said via a PM that the first years hosting will effectively be free. Social media marketing is free. What is the exact amount of funding you are looking for and where will it be spent?
4. you also said via a PM that you were working on this project full time therefore had no income and asked when I would actually invest. You did not ask directly but alluded to wanting some money as a means to compensate you for the time you have already put in to the business. I made it clear I would consider investing when a tangible website was created.
5. why you will use the UK as a base for the card issues and who will you be dealing with? what are associated costs for prepaid visa and also what safety protocols on the server do you intend to place? will this lead to a second round of funding?
6. you said via PM that you will not run your own daemon and will you the blockchain to verify transactions, please explain the process of generating wallets as per your business
7. how your customers will interact with your admin team when they have questions or issues (support desk, email, related costs if any)
8. your dashboard website is an AdminLTE free template, will you continue to use AdminLTE or migrate to a better UI system?If you answer these questions clearly it will allow potential investors to decide if they want to invest in this business or not. It will also allow them to come back with questions of their own.
I was one of the ones who has seen the under construction demo of this project and can say that though the idea has potential, I have concluded the development has been very slow and cannot recommend it to anyone either. I have decided I will not be investing.
AikFrank I wish you success with your business, hope it goes well and makes you and your investors super rich.