Topic: Wall of Coins (instantly buy or sell Bitcoin direct!) - page 3. (Read 8631 times)

Thank you for asking.


There are many, many points. Our core values all focus on *simplicity* to lower the barrier to entry into the Bitcoin world (this is still a big problem), and to eliminate fraud and maximize user security. Many points to buy/sell Bitcoin have huge problems with this, and the best this world has to offer (for the USA) are services like Coinbase or Circle; who are still complicating and involve a lot of friction to get involved.

As far as simplicity goes:

* No need to create a user account.
* Sellers always receive 100% of their bitcoin value when cashing out your coins. (we are a 0 fee market; our business plan for revenue is our licensing, integration opportunities, and we do have a variable buyer fee)
* We do not use formulaic pricing (ie: +2% above OK coin, or -5% BitStamp, etc) ... remember Mt Gox's pricing? It sure created a lot of confusion for new-comers who expected to get coins in the $200s-$300s. Some sellers don't like this, and naturally, a lot of buyers really like it. That's fine: we are not the only ones with this policy, but it's worth mentioning for the sake of simplicity.
* When you buy from WOC, you know exactly how many coins you are getting for the exact dollar price.
* sellers and buyers can confirm and unlock transactions directly from their cell phone--even if they do not have a smart phone. No need to log into another site, no need to run other software on your phone, etc.
* We have a toll free number. You can call us anytime, and we're happy to talk with you and help you. Naturally, business hours are the best times. What other services have this level of support?

Who else *truly* cares this much about their end user? I believe many companies love Bitcoin because it makes them money. We love Bitcoin because it is creating an entirely new and exciting industry.

As for maximizing security and eliminating fraud as much as possible, and establishing trust:

* we are 100% transparent: https://deposits.wallofcoins.com
* the first *always* audit-able live market (if you'd like, you can import all of our addresses into a watch only wallet)
* we've found a way to securely operate with 100% cold storage; the internal business system we engineered prevents internal theft, and we have a competent team to do so.
* as for fraud...read below.


I believe pairing services such as LBC are great to help people connect with each other. Unfortunately, these pairing services become a lead hotbed for scammers. New-comers who want to try out BTC and get some, people who want to sell some of their BTC for the first time, and even experienced individuals find themselves on the side as the victim. Forums are riddled with people being scammed...and it is just sad. We're not going to let that happen to any of our users.

Don't get me wrong; scammers try often to target Wall of Coins. They eventually realize that their time is better spent on forums, chat rooms, PayPal, and services like Local Bitcoins.

Our tribute to scammers:
http://instagram.com/p/uq2fzyvZNd/?modal=true

We could discuss at quite a length. Some people prefer Wall of Coins because of its simplicity, ease to buy BTC or sell theirs off, etc ... some people prefer other services because they are more established. Thank you again for the questions! As for myself, I have work to do

After repeatedly asking in the OTC chatroom to no avail, I am posting the questions here as well.

1) How is the main concept different from Localbitcoins dumbed down to cash deposits only?


2) How does distance between buyer and seller reduce scam/fraud?

Thank you for your support and suggestion harlykwin...it is much appreciated! We have a big update coming up in early November that will help buyers and sellers even further. The goal is to release this November 3rd ... so wish us luck on meeting this deadline If you'd like to PM me who you are on the site, i'd be even happier to see what your experience is so far that has made you happy. You're not obligated to tell me of course ... and thank you once again!

I just created an account here to say that my experience with your site has been great so far. It's very simple to use and it was awesome to wake up to a cash deposit into my account today. The only suggestion I have is an option that allows the sell price to be set to the current bitcoin price + some percentage. Otherwise, thank you for giving me an easy way to liquidate my coins.

Honestly, I don't know how to let everyone know this information I just know that I've meditated on making an application like this for at least 2 years, and I've constantly looked at ways to solve problems with trust, security, and easy of acquiring or selling Bitcoin. I'm not trying to be the solution for everyone here...but mainly the solution that will help Bitcoin adoption by helping the newbies.

Any questions or criticism about the site? It is much appreciated, and much welcomed. Thank you for your response!

Up for this.. Let everybody know how good a site you are.

We're giving away $20 in #Bitcoin and a cool USB flash drive

http://www.reddit.com/r/Bitcoin/comments/2jdzya/liquidating_bitcoin_earn_an_extra_20_bonus_in/

For those that don't wish to reddit:

**tl;dr** we gone give you 20 bucks. Lucky person gets the laser-engraved flash drive. Find out how.

    https://wallofcoins.com

The situation: our service Wall of Coins ( https://wallofcoins.com ) has experienced a lot of growth in the last 2 weeks. People are just very hungry for coins, and likewise, yesterday nearly **all** sellers got their Bitcoin liquidated in our system. The sellers received cold, hard cash directly to their bank account.

Help us feed our hungry buyers more coins! We will give you an additional $20 worth of Bitcoin to liquidate your coins using our service. If you're lucky enough, you'll receive an extra prize for the laster-engraved flash drive

    http://imgur.com/O5SxSRP

Here are the rules to apply:

* Must be the first of 20 new sellers.
* You must put up at least 5 BTC available for Wall of Coins buyers to acquire, **before** Sunday midnight New York City time.
* Must have one of the top 10 USA bank accounts. (This is a current limitation of ours.)
* If your account is with Chase Bank, it must be a business bank account.
* Your $20 bonus will be sent to you in Bitcoin
* Bonus equivalent based on Wall of Coins “last” ticker price posted on our market API:

* https://wallofcoins.com/api/public/v1/ticker

* The Bitcoin will be sent to your seller account so that it is liquidated directly to your bank.
* Should you choose to withdraw any amount of your coins from the market, you will forfeit the $20 Bitcoin bonus to Wall of Coins.
* Anyone affiliated with Wall of Coins or Genitrust in any way is not allowed to participate.
* On Monday Oct 20th, the winner of the Genitrust USB drive will be announced.

Good luck

(The top 10 USA bank accounts we use are: Chase, Bank of America, Wells Fargo, US Bank, PNC Bank, BB&T, Regions, SunTrust, Fifth Third Bank, TD Bank.)

Wall of Coins:

    https://wallofcoins.com

Featured on:

    https://cointelegraph.com/news/wall-of-coins-integrates-dash-as-it-surges-to-number-3-cryptocurrency-all-time-highs - "Wall of Coins Integrates Dash As It Surges to Number 3 Cryptocurrency, All-Time Highs" -- Thank you Joël Valenzuela!
    http://thedashtimes.com/2017/02/28/dash-partners-wall-coins-help-users-exchange-crypto-cash/ - "Dash Partners with Wall of Coins to Help Users Exchange Crypto for Cash" -- Thank you Elisha Owusu!
    https://www.youtube.com/watch?v=GOj73k126L4&feature=youtu.be - "Dash now available to Buy or Sell at "Wall of Coins" -- Thank you TechKnowledge!
    https://cointelegraph.com/news/which-marketing-strategy-is-best-for-blockchain-bitcoin-companies - "Which Marketing Strategy is Best for Blockchain, Bitcoin Companies" -- wow, thank you again Joeël Valenzuela!
    http://paymentweek.com/2017-2-28-dash-partners-with-wall-of-coins-to-help-users-exchange-crypto-for-cash/ - "Dash Partners With Wall Of Coins" -- THANK you Mike Dautner!

    Can Bitcoin Trading Be Really Instant and Private? http://cointelegraph.com/news/can-bitcoin-trading-be-really-instant-and-private
    Bitcoin's Next Steps: http://youmeandbtc.com/bitcoin-podcast/bitcoins-next-steps-and-john-stuart-ymb-podcast-e112/
    Listed #1 !! http://cointelegraph.com/news/114777/9-ways-to-buy-bitcoin-without-a-bank-account
    Organic 44 upvotes: https://www.reddit.com/r/Bitcoin/comments/2i6d0e/my_vision_and_passion_over_the_last_2_years/
    http://youmeandbtc.com/reviews-tutorials/wall-of-coins-review-buy-and-sell-bitcoin-with-cash/
    http://cointelegraph.com/news/113727/5-tips-to-grasp-the-bitcoin-scene-in-any-city
    http://www.miningpool.co.uk/robert-genito-founder-wall-coins-speaks-bitstamp/
    http://jerrybanfield.com/buy-and-sell-bitcoin/
    Podcast interview: http://youmeandbtc.com/podcasts/ymb-podcast-e50-bitcoin-auction-wall-coins/
    http://cointelegraph.com/news/113069/wall-of-coins-is-like-localbitcoins-except-easy-to-use
    http://cointelegraph.com/news/112829/wall-of-coins-buy-bitcoin-safely-at-your-local-bank
    http://jerrybanfield.com/wall-of-coins-bitcoin-marketplace/

Recently claimed best place to buy Bitcoin on Coin Telegraph! Wall of Coins is a *platform* that developers can use to help their users acquire or sell their bitcoin. Heck, even an online game can accept cash payments for their system with Wall of Coins platform. That's just one of the more abstract use cases that is in development today.

As for people just looking to buy or sell Bitcoin with each other, WallofCoins currently supports selling/buying through the top 11 banks with cash deposit in the USA. What are the next best features for buyers? Next best features for sellers? I'm looking for more feedback on this service. *Any* input would be greatly appreciated!

The focus is making this as *simple* and safe as possible for both buyer and seller, while allowing developers access to all of these features for their platform. Updates are dated considering UTC time.

Wow... it has been quite a while. There have been HUGE updates to the service and the company. The team has grown to nearly 20 people. Actually, I believe we just hired our 20th team member last week.... I'm not even sure anymore. Since the last post, there have been many updates, and here's the latest update for today:

HUGE updates. A few weeks ago we updated the entire design for Wall of Coins. People see how serious we are about making bitcoin accessible to everyone!

While of course we are focused on bitcoin accessibility, this morning we released a new feature: Wall of Coins has integrated Dash crypto currency *entirely*! We support instant send transactions, so any coins you sell on our system are instantly credited. For Dash buyers, they instantly receive their Dash with no need to wait for the blockchain and no need to spend an insane network fee when buying smaller amounts of crypto.


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UPDATE: Feb 28, 2017
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Here's a summary of some huge updates:

• You can buy DASH nearby instantly. Dash is sent to you with InstantSend, so you get coins immediately without waiting for congested blockchain confirmations.
• You can sell your DASH to our network (WallofCoins.com and all of our partners). Your coins are ready to be sold immediately when you use Dash's InstantSend.
• Dash wallets can integrate our API and bring the buying and selling experience directly to their wallet--no need to follow our branding guidelines, and enforce your own branding and user experience!
• Wall of Coins now has an engine for 100% DASH Rapid Cold Storage. No system like this exists! With other exchanges and market places, your Dash can be instant gone, and this does not happen with Wall of Coins. Our internal policies are constantly evolving, and our rigorous sets of checks and balances keep your coins ONLY going where they belong!
• Our advertisement publishers

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UPDATE: Feb 5, 2017
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• NEW WEBSITE. Wall of Coins now markets what makes it great... whether you're interested in buying bitcoin, selling bitcoin, or you are a developer or website looking to monetize your bitcoin service.
• Scaling our backend and improving our Administrative tools -- we are in a position now to handle significantly more volume, customers, and higher server load.
• Updates to our Security Intelligence Layer: while you sellers are out there getting scammed on Local Bitcoins / Paxful and losing your bank accounts (*ahem* Bitquick), our sellers are nice and save and cozy. Don't get me wrong, it happens... and my intention is not to throw these other services under the bus. However, we understand this issue intimately and we CARE about our sellers enough to have invested heavily into protecting their accounts. We have sellers who've used our site for nearly 2 years WITH THE SAME WELLS FARGO ACCOUNT. For any of you familiar with the cash-based world and familiar with how high of a risk Wells Fargo can be, you have surely not heard about an account staying open for so long.

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ATTENTION  /  /  / OPPORTUNITY
========================

We have **significant** buyer demand in the following countries: Great Britain, Canada, Mexico, Australia, and the Philippines.

If you are trading Bitcoin in these countries, give us a try and experience why Wall of Coins is a bitcoin trader's / seller's DREAM. These countries don't have many sellers, so the first sellers to supply consistent coin will get nearly all of our buyers.

USA demand is still VERY HIGH. If you're a seller in the USA, stop wasting your time--we work for YOU. Come see that we will sell your coins while you sit back, relax, and get your cash Want to know why we've made your coins more valuable through our network? Place a small purchase order: easy, accessible bitcoin is VALUABLE! Thank you for reading!


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UPDATE: Aug 26, 2016
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So there have been many, many updates over the last 6 months. We have all been SLAMMED busy...and I am so happy that we are helping so many people get bitcoin EASILY. I don't believe there is a single place on the planet where you can buy (or sell) bitcoin as easily, quickly, and safely. In fact, if there is...let me know about it Here are some updates to the site we did earlier this week:

• Ad Wizard: fixed new issue that prevented an advertiser from editing their ad before verification
• Ad Wizard: fixed issue where adding certain Canadian bank accounts did not ask for Transit #
• Ad Wizard: some new users may have experienced weird UI bugs when confirming account numbers for their advertisements
• Fixed a rare issue where certain valid international mobile phone numbers were considered invalid.
• Fixed another rare bug that only affected the web display for buyers using the complete/cancel order buttons from the buying instructions page

... many other updates since February: most are tiny or updates to our back end ...


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UPDATE: February 8, 2016
========================

• We now support Co-Op Branching, Money Gram, Western Union, and virtually any cash payment method that any seller could desire! Don't see your preferred method to receive cash? Just ask a team member!
• Wall of Coins is now available to buyers and sellers in Australia and Romania!
• Buyers can now confirm or cancel orders directly from the Buying Instructions.

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UPDATE: January 12, 2016
========================

• We have introduced a new fee structure called the “Organic Fee”. While this requires the cooperation of Bitcoin Advertisers to sell at a good rate, it allows the system's fee structure to be competitive in comparison to all other markets.
• Wall of Coins is now available to Argentina and Brazil !
• Wall of Coins is re-enabled for Germany!
• Fixed issue where some users couldn't get Wall of Coins to forget their location and manually specify their location by zip code.
• Refactored phone number fields and fixed multiple edge-case issues that affected user login.
• Selling area and Ad Wizard is faster on most mobile devices, along with other minor clean ups and organizing of the Ad Wizard
• Fixed a minor issue with ticker showing a rate of “infinity” dollars

We are expanding Globally! More to come on this... much more to come...


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UPDATE: December 13, 2015
========================

• Buying in Latvia activated!
• App uses less API calls, making the UI functionality quicker to respond on normal every-day cell phones!
• Order Books had a new cache bug preventing order book updates.
• API calls never mistakenly return a “pretty” HTML format. Plain text JSON is always returned.

...and much more to come! There are a lot of exciting things going on, and we all can't wait to show everyone


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UPDATE: November 27, 2015
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Very happy that Bitcoin is making the world smaller Wall of Coins is now available in these following countries:

• Canada
• Poland
• Philippines

For sellers who want to join our platform in these countries, selling on the website is easier than any other site that I know about. Furthermore, all buyers in these countries who want a better way to get bitcoin eagerly wait for more coins!!


========================
UPDATE: October 12, 2015
========================

Yesterday we set out a new update for Wall of Coins. This is technically a pretty large update--mostly items on our back end that will not be listed here. Some of the things our buyers and sellers may notice are:

• "Best Value" offers are back! We fixed a serious bug we recently introduced that prevented buyers from getting the “Best Value” offers. Buyers can now get a combination of the Best Value offers.
• When you change the ticker, Wall of Coins remembers the new ticker view as your ticker viewing preference. Now you can have the USD/BTC format all the time, without having to click it again...
• New, clearer verbiage on the website's front page, in SMS messages, and during the process in-general.
• Fixed rare issue that caused $0 orders to be generated.
• Fixed rare issue with bitcoin addresses that caused our search engine to crash.
• Requests are more “efficient” on the website.

DEVELOPER INTEGRATION updates:

• Additional security patches for the buying API.
• To prevent any ambiguity, our developer reference server displays the full URL for bank icon and logo source URLs.
• Our widget also remembers the viewer's ticker preferences.

More history in the comments below...