idea.. You Think its GOOD?

[Yield7]

my idea is,
Simple: 
for exanple: 
You pay btc eth or ltc.
and I Give You coins like:  doge, or Other cheap ones.

or I Can Exchange your cheap coins to btc/eth/ltc.

IF I do Some coins with GOOD rate would You be interested?


I Think its much Better coz of no kyc.
is any demand for this Kind of Service?


Thanks !

[1713875139]

1713875139

[1713875139]

1713875139

[1713875139]

1713875139

[1713875139]

1713875139

[1713875139]

1713875139

[Yield7]

I Waiting for Ur comments or any suggestions.

perhaps u Think that Kind of Private coin swap Service Not needed.. since all exchangers like polo Can sadisfy enough your coin needs.
then let me Know!

Thanks!

[TryNinja]

So, basically the same as ShapeShift, Changelly, Flyp.me, Coinswitch, etc...?

Unless you innovate and create something completely new and give way better rates than the competitors, I don't see your project gaining any traction.

[Yield7]

So, basically the same as ShapeShift, Changelly, Flyp.me, Coinswitch, etc...?

YES but they requires kyc procedure, I Think.. and Some of them I hardly Trust.
I never used them.

[Yield7]

So, basically the same as ShapeShift, Changelly, Flyp.me, Coinswitch, etc...?

Unless you innovate and create something completely new and give way better rates than the competitors, I don't see your project gaining any traction.

thanks,  You see that Kind of answers I like it.
IF Every newbies Will do Same like I do that Before they make Some time waisting moves.. they ASK Around Opinions and suggestions!

Thanks!!

[mdayonliner]

I would be interested to see an exchange with no central organisation. I know there are few like IDEX and others but they all are dealing with ETH tokens if I am not wrong.

[TimtheYoutuber]

This doesnt seem like a service people would want, unless it is automatic with high liquidity. If you had high liquidity governments would be looking to shut you down.

[Yield7]

This doesnt seem like a service people would want, unless it is automatic with high liquidity. If you had high liquidity governments would be looking to shut you down.

I Think the only way to declare high crypto earning profits is to set Up your own crypto Exchange like Fiat to crypto and crypto to Fiat.
exchangers who Got GOOD exchanging rates they have allready good crypto earnings and to set Up as exchanger its just the best way for them to legimate earn crypto income and Not Going Against any Government Rules or regulations.

this is what I Think!

[harizen]

YES but they requires kyc procedure, I Think.. and Some of them I hardly Trust.
I never used them.

Same will goes on your future project with the same feature, "trust" concerns. Even with a good rates, people will still preferred to used the ones who is already known for that service.

Most people like the idea of no-KYC procedure on an "instant trade" system but it doesn't mean they will just used a service of a new site that quick.

But everything start as a small and not popular. Well then if you able to pull out "something good" that will able to solved the trust concern then just proceed and test the waters.

[elda34b]

I Think its much Better coz of no kyc.
is any demand for this Kind of Service?

There is a demand for that, but as harizen mentioned, you'll face trust issues. With the recent hacks on various exchanges, exit scams from ICOs, even abandoned exchange/DEX it is quite difficult for most people to blindly trust any new exchange even though they promised to provide instant liquidity. You might be able to do this if you can provide a smart contract. It should be able to receive/detects transactions from various blockchain and in turn send back what the sender should receive, or in other words, atomic swap.

Other solution would be to make a multisig address where you and someone trusted operate the exchanges, but this won't provide instant liquidity as it requires you to sign manually afaik. On top of that, you should address regulatory issues too. If you have high liquidity, there is a possibility that government will 'track' you down and requires you to follow the regulations for exchanges, unless you live in a no man's land.

[pooya87]

Other solution would be to make a multisig address where you and someone trusted operate the exchanges, but this won't provide instant liquidity as it requires you to sign manually afaik.

it can be automated like any other operation. it is just a matter of creating a public key and sharing it with the user so that you can both create a 2 of 2 multi signature address. but there are other problems with this design which is fraud like what if the user or the site refuses to sign the second part of the transaction after they received the payment?

saying that makes me think of Lightning Network and Atomic Swaps. if OP can implement THAT, then there would be interest in it. otherwise there already are trusted services that do exactly what he described in OP.

[TheUltraElite]

or I Can Exchange your cheap coins to btc/eth/ltc.

So what is difference between your "service" and that being provided by some legit traders in the "Currency Exchange" section?

IF I do Some coins with GOOD rate would You be interested?

Rate is having a less priority. Trust has more priority. Why would I trust you and send you my coins?

I Think its much Better coz of no kyc.

Irrelevant if there is no method to trust the parties involved. Do you even intend to use an escrow intermediary?

is any demand for this Kind of Service?

The demand is always there if you know how to generate it and how to catch on current trends to gather people. But nobody would trust you with their money just like that.

[Yield7]

or I Can Exchange your cheap coins to btc/eth/ltc.

So what is difference between your "service" and that being provided by some legit traders in the "Currency Exchange" section?

IF I do Some coins with GOOD rate would You be interested?

Rate is having a less priority. Trust has more priority. Why would I trust you and send you my coins?

I Think its much Better coz of no kyc.

Irrelevant if there is no method to trust the parties involved. Do you even intend to use an escrow intermediary?

is any demand for this Kind of Service?

The demand is always there if you know how to generate it and how to catch on current trends to gather people. But nobody would trust you with their money just like that.

i Guess You try the service and IF You Not Happy You just Move on.
why You Trust websites like shapeshift?
First You tried,  Trust is always problem

[eternalgloom]

Look, it's definitely possible to create another one of these instant exchange services.
People will probably use it if there's no KYC.

The real question is, do you have what it takes to build one?
Do you have enough capital to fund the development and security audit?

Aside from that, do you have enough funds to provide for the exchanges?

[Yield7]

Look, it's definitely possible to create another one of these instant exchange services.
People will probably use it if there's no KYC.

The real question is, do you have what it takes to build one?
Do you have enough capital to fund the development and security audit?

Aside from that, do you have enough funds to provide for the exchanges?

I might create ico to accure enough Capital
That's how the Projects started.
it just takes Courage and Faith.
but IF You can add Something Good and useful for Other humens Everyday lifes.
then You have created value ,  the Question isa how big is that demand?
most projects falled couse of Not enough interests from
Other Question is Will People have enough Faith?
IF Only creator have Faith and Hope thats Not enough

[TheUltraElite]

i Guess You try the service and IF You Not Happy You just Move on.

Why would I try a service which I dont trust in the first place? Would you like to go to your local grocery shop even if know that the person is a scam artist?

why You Trust websites like shapeshift?

Who said I trust them?

First You tried,  Trust is always problem

Its not my problem princess. You have to show that your service is trustworthy then only people will try it. Its your idea so you have to defend it.

[eternalgloom]

I might create ico to accure enough Capital
That's how the Projects started.
it just takes Courage and Faith.
but IF You can add Something Good and useful for Other humens Everyday lifes.
then You have created value ,  the Question isa how big is that demand?
most projects falled couse of Not enough interests from
Other Question is Will People have enough Faith?
IF Only creator have Faith and Hope thats Not enough

Hmm, consider me skeptical.

How will you create this ICO? Not to be rude or anything, but your English isn't really good enough to create a decent enough whitepaper.
If you want to create an ICO, you also need to hire people for that. The cost of that would probably be in the range of just setting up the exchange itself.

Besides, creating an ICO for yet another exchange. I doubt that many people would be interested in that.
If you don't have a budget, just forget about this idea. You won't be able to do an ICO anyway.

[AdolfinWolf]

I've deeply considered creating such a site to the likes of ShapeShift/Changelly, (but with no random KYC checks et al).

However if you want this to be successful, as others have already mentioned, you'll need to offer Low fees -> Capital/No KYC -> Capital/Trustworthiness -> Capital/.

Considering the fact that the above exchanges are subject to KYC, you have to realize that they do this due to regulations/feds panting in their neck. (They wouldn't implement KYC if they weren't 100% required to.)

You'll probably need some really good lawyers and an offshore company hosted in the middle of nowhere to be safe from them.
(Which again, is probably going to cost a lot of $$$, something you don't seem to have.), and due to the greyness of the business model, i wouldn't expect many banks signing off a loan on this idea either.

I might create ico to accure enough Capital
That's how the Projects started.
it just takes Courage and Faith.
but IF You can add Something Good and useful for Other humens Everyday lifes.
then You have created value ,  the Question isa how big is that demand?
most projects falled couse of Not enough interests from
Other Question is Will People have enough Faith?
IF Only creator have Faith and Hope thats Not enough

Sorry, but if this is your idea of creating capital for your business then you're just plain delusional. You won't get a penny from your ICO.

[eternalgloom]

Sorry, but if this is your idea of creating capital for your business then you're just plain delusional. You won't get a penny from your ICO.

Check my previous reply. He will not even be able to create an ICO for this.
He obviously can't create it himself, so just setting everything up will cost more money than he can spend.

Sure, he could go look for volunteers, but who would want to work with someone who can't even format a proper sentence in English?

OP, I think the best sort of investment for you is to invest in your own education.
Everything starts with being able to communicate, get enrolled in some English classes asap!

Again, not trying to be a dick, just giving you some very hard truth here.

[Yield7]

Sorry, but if this is your idea of creating capital for your business then you're just plain delusional. You won't get a penny from your ICO.

Check my previous reply. He will not even be able to create an ICO for this.
He obviously can't create it himself, so just setting everything up will cost more money than he can spend.

Sure, he could go look for volunteers, but who would want to work with someone who can't even format a proper sentence in English?

OP, I think the best sort of investment for you is to invest in your own education.
Everything starts with being able to communicate, get enrolled in some English classes asap!

Again, not trying to be a dick, just giving you some very hard truth here.

I Can find for 50$-100$ English Professional translation That's Not problem.
do You really Think someone who Want to earn money Can't hire just translator?
we all have Strong sides and weak sides.
someone is Good in Something and someone else is Good with Something else.
my Strong side is business.