How to trustlessly buy and sell crypto for fiat without needing 3rd party

happypsyduck

jr. member

Activity: 90

Merit: 1

Quote from: sunsilk on June 19, 2020, 08:33:57 PM

I've seen your thread before and there is no need for you to make a new thread for your DEX. The older one is enough for you to introduce this DEX to the community and it's now time to close this thread because the forum has specific rules about duplicating threads/topics.

Link to old thread: FiatDex Version 2: A trustless and anonymous fiat gateway into DAI stablecoin

You're right. Closing this thread.

Coin_trader

copper member

Activity: 2800

Merit: 1179

Leading Crypto Sports Betting & Casino Platform

This is a good Idea for a trust less fiat transaction to crypto. The problem is the credibility of your website itself especially for people who have zero background about coding. If ever there is some malicious code in the DEX then they will never check it and they need to solely trust your website when using it.

Binance offers this kind of P2P transaction too which offers protection on both side. Binance has a good credentials that's why people still using even though they require user to do mandatory KYC which I believe safer way when dealing fiat transfer.

sunsilk

hero member

Activity: 3038

Merit: 634

I've seen your thread before and there is no need for you to make a new thread for your DEX. The older one is enough for you to introduce this DEX to the community and it's now time to close this thread because the forum has specific rules about duplicating threads/topics.

Link to old thread: FiatDex Version 2: A trustless and anonymous fiat gateway into DAI stablecoin

happypsyduck

jr. member

Activity: 90

Merit: 1

Moved thread to altcoin service discussion.

happypsyduck

jr. member

Activity: 90

Merit: 1

Use FiatDex

FiatDex is a relatively new service ran on a trustless Ethereum smart contract that allows for two people to swap crypto for fiat without needing a 3rd party. This means no more middle-men and no more having to give out personal information to an arbitrator in cases of disputes. Instead, users work together to fulfill the terms of the agreement between each other. Using mutual collateral, both traders are incentivized to complete the trade otherwise they risk losing some of that collateral.

See more here:
Website: https://happypsyduck.github.io/fiatdex-gateway
Contract: https://github.com/happypsyduck/fiatdex-gateway
Whitepaper: https://happypsyduck.github.io/fiatdex-gateway/whitepaper.pdf

Due to a collateral requirement, both users need to have cryptocurrency initially, so it is not for those who are completely new to crypto but rather for those seeking to get more or cash out.

Topic: How to trustlessly buy and sell crypto for fiat without needing 3rd party (Read 524 times)