Topic: NEW concept of P2P Exchange. - page 2. (Read 706 times)

The decentralized exchanges are good but each transaction, (e.g. Ethereum standard token) costing 0.01 ETH (approximately USD 10.00), makes me mad=)

And Indeed! etherdelta's fee for Execution against someone else's order (take liquidity fee)     = 0.3%
How can you like it after such enormous charge?

My experience with exchanges is that I prefer the lower risk of P2P. Yes, I'm aware of risks of peers defaulting or defrauding, but trust systems in the ones I use have worked very well. But I think the future is decentralised exchanges - the tools of Polo and others can easily be created by advanced traders and aren't that important that I'd need a centralised exchange.

The only reason I'm still on the Polos and Bittrexs is purely for the volume.

I'll say this: security is probably standard across the board. Fees are also negligible if you offset with speed and security. But the main factor for success is your ability to scale in customer support, and less important (but not less critical) the ability to scale in capacity. We've seen them all start well, and then drastically decline in both support and capacity (hardware, software) as they get more popular.

No centralised exchange or P2P platform has been able to achieve high levels of satisfaction with customer support. I'd rate LBC as the best, but even they have a lot of room for improvement. Solve this and you will see people flock.

i like decentraized exchange same with etherdelta
but must low fee, in etherdelta is high fee and not accepted Fiat money

True!

Thanks for the detailed feedback!

- Yes, we will act as escrow for every transaction.

A buyer, who pays you via PayPal will not get your crypto until you confirm the money acceptance. But! You should know (and the system will warn you about it) that a buyer can revert his PayPal transaction; so you just need to reallocate accepted money into another account from PayPal and only after that, press [confirm] button.

We also much appreciate your support. More information will be available soon (WP, Product description, etc.).

All major fiat currencies (about 30) and most popular (in the beginning) crtyprocurrencies.

It's an excellent question!! Thanks!

In the beginning, we will apply the following high volume cryptocurrencies as the BASE so that users could fulfill most of their SWAP and trade needs:
- BTC
- ETH
- LTC
- XMR
- our token (of course)

And the QUOTE currencies are USD, EUR, GBP, and others (32 fiat currencies) + main cryptocurrencies mentioned above. The system automatically excludes the pairs like BTC/BTC.

And surely, we will add any another crypto if users vote it.

You should know that due to our algorithm every new currency added (fiat or crypto) or a new method of payment just increases the number of Instruments available for trade, where each instrument is a unique combination of country, base cryptocurrency, quote currency (fiat or crypto), and a method of payment.

For example, if the Exchange would contain only these:

- Country: USA and UK
- Base cryptocurrency: ETH and BTC
- Quote currency: USD and GBP
- Method of payment:  PayPal and Wire transfer

then the number of unique Instrument equals to 2 x 2 x 2 x 2 = 16 instruments (or online auctions) like:
[USD-ETH/USD-PayPal],
[UK-BTC/GBP-wire transfer]...etc.

But if you add just one parameter (e.g., Litecoin) then the number of instruments will be 2 x 3 x 2 x 2 = 24.

During our tests we apply the following parameters:
- Countries: 101
- Base Cryptocurrencies: 15
- Quote currencies (fiat and crypto): 35
- Payment method: 32
The total number of Instruments = 1,696,800
and the system worked it out!

You may ask what will we do with 1,7 mln auctions =) But don't worry, the "invisible" market hand shows you the most tradable instruments.
Also, our market screener tools will help you to find the instruments, which grows/decreases too fast or, for example, to find a buyer with the highest BID on your cryptocurrency in your country, who use the same payment method as you apply. 
We are going to provide traders with as many options as we can; so that they could choose what to trade.

Please advise what other trading needs you may have in the case of having 1,7mln variances (instruments)?
 
In fact, the system does not have the limits. We could add even 1000+ altcoins having higher server capabilities.

It's a good idea if I can buy and sell cryptocurrency from someone on the other side of the world, PayPal will make it happen. But, one thing to be noted, p2p exchange have to act as intermediary or escrow for every transaction.


- Yes, it's a good idea for such p2p exchange
- No, it's not my capability to become team member it advisor
- if you can provide more information about it, maybe I will invest in ICO

Yes, You're right about X - Y. This option definitely will be available with no fees because the transaction is made just on the Exchange's ledger.

Could you please specify what is a "top of security" for you?
For example (all of them),
- 2FA authentication
- Real-time protection from phishing attacks
- KYC data protection
- Protection from fraudulent schemes
- what else...?

I think this would be unique project if it gets implemented successfully as you are trying to explain it. Also would you listing all the coins which are their on different sites or will it be only few top coins that you will be dealing on your site. And also how are you planning to deal with the local currency of a country or only the coin could be dealt with altcoin or btc?

- Yes. Existing market offers are very far from ideal
- Maybe as an advisor


In any case - good luck to you and your project!



[/quote]

Many thanks 

I would be highly appreciated for any feedback from you:
- Do you need such P2P Exchange?
- Do you want to participate (as a team member or advisor)?
- Do you want to invest before pre-ICO?
- Would you invest in pre-ICO (if happen)?

Thanks!
[/quote]
- Yes. Existing market offers are very far from ideal
- Maybe as an advisor


In any case - good luck to you and your project!

Interesting concept! I had bought ETH for EUR  on CEX exchange recently (the volume was <40 ETH) ,

The fees were:
1) 2,5%+0,25 EUR for deposit from my bank card
2) + 0,25% taker fee when I bought ETH

what would be your fees in the case like that?

[/quote]

In your case, the fees would be only transaction cost from your bank account (or Paypal account, etc) to the seller of ETH personal bank (PayPal, etc.) account. For example, if the seller has the account in the same bank as you have, then you pay 0 (ZERO) fees! 


  After confirmation from the seller, his ETH deposited on our Exchange instantly transfers to your exchange's account. AND WHAT IS MOST EXCITING is that no need to pay 0.01 ether fee for such type of transfer because it's inside the exchange.

I dont use any P2P exchanges at the moment but the fees on some exchanges are crippling for small transactions.
For me I would definitely use a P2P exchange if it could reduce the Cost of transactions and offer top security.
If we take the idea of Bitcoin we shouldnt need a middle man in order to trade.
I have X you want X, lets trade, simple.

if you want to create a successful exchange main things people care about are:

1. Security
2. Cheap/Efficient
3. sometimes with legal registration and licensing, although thats not as important. as the two above

if you cant puncture with this, you cant land a successful new exchange plattform.

regards
[/quote]

I guess high-security standards can be atchieved after a sucssesfull ICO.
[/quote]

Sure, the all basic things (2FA verification, ID verification) will be available and more.

I would be highly appreciated for any feedback from you:
- Do you need such P2P Exchange?
- Do you want to participate (as a team member or advisor)?
- Do you want to invest before pre-ICO?
- Would you invest in pre-ICO (if happen)?

Thanks!
[/quote]

Interesting concept! I had bought ETH for EUR  on CEX exchange recently (the volume was <40 ETH) ,

The fees were:
1) 2,5%+0,25 EUR for deposit from my bank card
2) + 0,25% taker fee when I bought ETH

what would be your fees in the case like that?

[/quote]

if you want to create a successful exchange main things people care about are:

1. Security
2. Cheap/Efficient
3. sometimes with legal registration and licensing, although thats not as important. as the two above

if you cant puncture with this, you cant land a successful new exchange plattform.

regards
[/quote]

I guess high-security standards can be atchieved after a sucssesfull ICO.

I would be highly appreciated for any feedback from you:
- Do you need such P2P Exchange?
- Do you want to participate (as a team member or advisor)?
- Do you want to invest before pre-ICO?
- Would you invest in pre-ICO (if happen)?

Thanks!
[/quote]

if you want to create a successful exchange main things people care about are:

1. Security
2. Cheap/Efficient
3. sometimes with legal registration and licensing, although thats not as important. as the two above

if you cant puncture with this, you cant land a successful new exchange plattform.

regards
[/quote]

Thanks for your feedback!
1. The Security is and will be the most important part of development.
2. The fee extremely low and fixed for high-volume traders and FREE for all others.
3. Legal registration is already done (in Hong Kong). Licencing is not required in HK if tokens are used as means of payment for service (not as equity).