we must build a reputation as legitimate and will do so slowly. That is why we are running a sig campaign, to raise awareness, and more soon. The manager is currently holding around $700 in escrow for last week - we are here for long business and will prove ourselves.
A signature campaign will raise awareness indeed, but doesn't mean the site can be trusted. That takes time.
That being said, I have some other concerns: your site has a field to enter the amount to receive. No matter how high it is, I get the same exchange rate. That's weird, usually exchanging a very large amount would mean the rate gets less good.
What's also weird is that there's no maximum mentioned anywhere. There has to be an upper limit to what you can handle, right?
As for your your references to other sites - localmonero isnt just cash trades. It has a multitude of other methods. As for fixedfloat, from my very basic and limited research, I see on their trustpilot their 3% of negative reviews state that they were asked for KYC with their coins held.
Valid points. I don't really care if people are willing to pay a higher exchange rate, that's entirely up to them in a free market.
This is a nightmare for users, as giving your personal information to a site that is anonymous itself is never good, as well as these sites knowing that when they ask for KYC, some users will not do it, and lose their funds. This is part of the business model for some of the sites.
Agreed. I've seen several topics about this, and I don't like to provide documents to a shady site either.
no KYC ever (never lose your funds or give information to us)
I've seen too many sites pull a selective scam to easily believe this. What if someone sends you 16 Bitcoin to exchange? I've seen several people send a very high amount to a relatively unknown site (and lose their money).
We are working on this reputation and are paying for honest reviews soon (manager will have a thread up shortly). Positive review is not what we are insinuating, we want feedback and honest reviews. It may just be the start for us but we will be here for a long time.
I've given similar feedback to a few sites before. That doesn't mean I trust them though. Some turned out to be okay later, and some didn't.
We have it formulated so non-RBF transactions with a high fee are completed sometimes without confirm based on factors we decide automatically. RBF transactions require a confirmation but we only wait for one. If we suffer from a loss (most likely not) this will be changed. This is a process of trial and our end goal is to make it as easy as possible for our customers.
Do you also take unconfirmed parents into account?
Also another aspect to look at is that our fee is 4% - while trading on a centralized exchange you must pay the tx fees to get it there, tx fees to withdraw. We are simple, faster, no login, no worries of losing 2fa, etc.
The 4% is only beneficial over withdrawal fees as long as you're trading small amounts. For larger amounts, the 4% quickly loses to a 0.25% (or less) trading fee at large exchanges.
I trust CoinPlaza doesn't ask for KYC for amounts up to 100 euro per day. They charge 1% fee, but add a transaction fee if you withdraw Bitcoin. For small amounts, 4% may not even be enough to cover your own transaction fees.
Sure that is interesting idea but that PGP signed proof is useless in case your website is gone or stops working for whatever reason.
Instead (or on top) of PGP, can you provide a Bitcoin signed message? Those are much easier to verify for users.