♻️ DEX.fo — Anonymous Exchange 💚 NO KYC/AML 💚 Escrow 1 BTC

[logfiles]

Since you already have an integrated refund option, is it feasible for the user to determine the exact amount that will be sent to the primary address and the rest for a refund? Sending change to the refund address is done and will be determined after the second confirmation and locking of the exchange rate in the order.
I'm just thinking out loud.
Although in general, I'm not sure how much the requests for such a possibility would justify the additional effort to implement such a feature.

This would work great incase one is receiving BTC. If one was receiving coins via other networks such as Ethereum or Tron, that would be two different transactions implying extra fees.

[icopress]

The exchange of a significant amount went smoothly. It was quite fast for a standard transaction, though it could have been even quicker ... I recently performed a swap using CCE, and I believe that one was a couple of minutes faster for the same pair.

It’s possible that an unfortunate set of circumstances regarding Bitcoin block confirmations played a role, but I’m not certain.

[DEX.fo_off]

Since you already have an integrated refund option, is it feasible for the user to determine the exact amount that will be sent to the primary address and the rest for a refund?

This would work great incase one is receiving BTC. If one was receiving coins via other networks such as Ethereum or Tron, that would be two different transactions implying extra fees.

Thanks for thinking it through, examplens — it's a clever approach. As logfiles points out, though, on most networks it would mean two payouts and two network fees, which works against the user on smaller amounts. So for now our answer stays the same: the safest way to get an exact sum is to swap to your own wallet first and send from there. We've noted the idea anyway.

The exchange of a significant amount went smoothly. It was quite fast for a standard transaction, though it could have been even quicker

Thanks for the feedback! On BTC deposits, most of the total time depends on how quickly the required confirmations come in — when blocks are slow, the whole swap takes a bit longer. We keep working on the speed on our side, too.

[Z-tight]

The exchange of a significant amount went smoothly. It was quite fast for a standard transaction, though it could have been even quicker

That's indeed a significant amount and a great 'advert' for DEX.fo, a service that i consider to be very solid and highly recommended.

It’s possible that an unfortunate set of circumstances regarding Bitcoin block confirmations played a role, but I’m not certain.

That could very well be the case. I have used DEX.fo quite a lot of time, and when i had the time to monitor the order, it was usually the required block confirmation time that took up most of the overall time.

[MarryWithBTC]

Previously, I suggested "precise payment", and I understand that there's no much demand for it now, what DEX has is serving well.

But few days ago, I reviewed an exchange which is smaller than DEX in terms of adoption and they were able to implement something simple but effective. You will be able to type in both text boxes of what you will send and what you will receive.

Instead of playing with the calculator to determine what amount of solana is equivalent to 0.002 BTC, you'll simply go to the receiving block and type 0.002 BTC and the system automatically calculate what amount of sol you will send.

I don't think it's difficult to implement and neither will it disrupt other functionalities.

[DEX.fo_off]

That's indeed a significant amount and a great 'advert' for DEX.fo, a service that i consider to be very solid and highly recommended.

Thanks, Z-tight — and for confirming from your own experience that confirmations take up most of the time.

You will be able to type in both text boxes of what you will send and what you will receive.

Instead of playing with the calculator to determine what amount of solana is equivalent to 0.002 BTC, you'll simply go to the receiving block and type 0.002 BTC and the system automatically calculate what amount of sol you will send.

Thanks for the suggestion and the screenshot. It may look like a small change from the outside, but with how DEX.fo is built, calculating from the receiving amount would mean rebuilding about half of the system. So we're not planning to implement it — we'd rather put that effort into new coins, networks and stability.

🗳️ Poll: cash payouts worldwide

We're considering a new service — cash payouts for crypto in different countries around the world. Before we start working on it, we want to understand how much our users really need it.

Please vote in the poll at the top of this thread.

If you voted Yes, let us know in a reply:
— which countries or cities you need it in;
— which currency you'd like to receive;
— what amounts you have in mind.

The more detailed your answers, the faster and more precisely we can launch it. Thanks for helping us grow!

[examplens]

Thanks for thinking it through, examplens — it's a clever approach. As logfiles points out, though, on most networks it would mean two payouts and two network fees, which works against the user on smaller amounts. So for now our answer stays the same: the safest way to get an exact sum is to swap to your own wallet first and send from there. We've noted the idea anyway.

Fair point. As I have already said, it is questionable how interesting such a feature would be and would make it an advantage over the competition.
I don't want it to seem like I'm advertising for anyone here; there is something similar to the cce.cash exchange, where you can split the received amount into 5 different coins. We can't know how popular this is with users, but it's certainly a type of additional service that stands out.

[Z-tight]

We're considering a new service — cash payouts for crypto in different countries around the world. Before we start working on it, we want to understand how much our users really need it.

The more detailed your answers, the faster and more precisely we can launch it. Thanks for helping us grow!

I think you would have to provide more details about how exactly it is going to work, in order to get detailed answers from users in this thread. Just to be clear, are we talking about swapping crypto and receiving fiat in a bank account? But you say cash, so it sounds like you're talking about receiving physical cash for crypto, though i am not sure how an automatic swap service can offer that feature.

[SamReomo]

We're considering a new service — cash payouts for crypto in different countries around the world. Before we start working on it, we want to understand how much our users really need it.

That's going to be a useful feature but to make such a feature working DEX.Fo needs to follow regulations of each nation and for automatic exchange that will be a tough job. Although, such a service is very possible but it will be somehow difficult to make it available in most countries. Also, I want to know are we talking about fiat payments of countries or we are talking about cash payments of countries? If were are talking about physical cash payments then I don't think such a thing might not be possible.

[stompix]

I'll start with the assumption that cash is cash, as in bills in your hand!

I think the answer is heavily biased on the method to do it
- a p2p method like Fiatbox, for example, that would be tempting, assuming a serious vetting process before that
- a network of trusted agents, that might get dicey, it would be ok for a kiosk, for personal agents delegated by I would think twice
- cash via money services like WU pick-ups, nope, not in the EU where I live, money out of here no problem, money incoming, lots of headaches

So probably the feedback could change for any of us based on the method of achieving the transfer.
Of course eveyone would want to have an option to get cold cash in their hand without going through a bank or KYC or stuff but the amounts risked would also take the method into account.

Now, if by cash you meant money in your bank account, this would change drastically.

[DEX.fo_off]

Just to be clear, are we talking about swapping crypto and receiving fiat in a bank account? But you say cash, so it sounds like you're talking about receiving physical cash for crypto

Also, I want to know are we talking about fiat payments of countries or we are talking about cash payments of countries?

I think the answer is heavily biased on the method to do it
- a p2p method like Fiatbox, for example, that would be tempting, assuming a serious vetting process before that
- a network of trusted agents, that might get dicey, it would be ok for a kiosk, for personal agents delegated by I would think twice
- cash via money services like WU pick-ups, nope, not in the EU where I live

Fair questions — we should have explained more in the first post. We mean real physical cash, delivered by courier. It would be a separate option alongside the automatic swaps, not part of them, and that's why we started with a poll rather than an announcement: we want to see where there's real demand before building it.

stompix, your point about personal agents is exactly the kind of concern we need to hear. So if you voted "Yes" or are on the fence, tell us: in which countries and cities would you use it, roughly what amounts, and what would make a courier delivery feel safe enough for you to trust it? SamReomo is right that local rules differ a lot, so these answers will show us where it makes sense to start.

there is something similar to the cce.cash exchange, where you can split the received amount into 5 different coins.

Thanks for the example. On a related note — after all the feedback in this thread, we're going to take another look at the exact receiving amount option. It's not a quick change on our side, but we'll think it through and try to make it happen.

[Hamza2424]

Please vote in the poll at the top of this thread.

If you voted Yes, let us know in a reply:
— which countries or cities you need it in;
— which currency you'd like to receive;
— what amounts you have in mind.

The more detailed your answers, the faster and more precisely we can launch it. Thanks for helping us grow!

Haha, no one will answer these questions correctly, bro, as people here prefer privacy and don't want to tell anyone which city they live in. But they can share their country, and mine is not so hard to find, haha. The local currency I would prefer is PKR, but how secure will it be?

I don't have high amounts. I usually have smaller ones, and I prefer to do them in batches too. So maybe $10 to $300 max. Are you guys going to implement this or planning it for now?

Well, if you will, then how will you bring buyers and sellers from all over the countries, as most of the platforms out there like this don't have buyers or sellers for my local currency?

[SamReomo]

Well, if you will, then how will you bring buyers and sellers from all over the countries, as most of the platforms out there like this don't have buyers or sellers for my local currency?

Buyers will learn about it from others but when it comes to sellers then they'll not have sellers but their agents form the country who may handle such transactions and get their cut if I am not wrong. So someone who lives in a country can be their agent who may send cash via courier to complete the transactions but again in most places such a thing won't be an easy task. I think it is going to be a working model but I don't think it will be profitable at all because people from those countries can use p2p services to covert their crypto currencies into fiat money.

[stompix]

stompix, your point about personal agents is exactly the kind of concern we need to hear. So if you voted "Yes" or are on the fence, tell us: in which countries and cities would you use it, roughly what amounts, and what would make a courier delivery feel safe enough for you to trust it? SamReomo is right that local rules differ a lot, so these answers will show us where it makes sense to start.

When you said cities, well, a light bulb popped up, cause yeah...
If I met a stranger (no matter his affiliation, for me it's a stranger) I would choose maybe to drive 100 km away to cash out once 2500-5000 , I'm saying that to also stay below the limit even for Schengen borders on undeclared cash and also not to risk my ass when meeting over with a stranger, so in my case the magic triangle between Munich, Prague, Wien would be a possibility.

Also, one thing to note: I'm quite certain I'm not part of the larger user base that would need this
- I live in a country (union) where it's easy to swap coins for fiat
- The legal risks for this are tipping the scale a lot on how much tax I would avoid with it on the sums I would exchange.

Somebody in a country that:
- bans bitcoin or has no exchanges
- heavily scrutinizes bank accounts for foreign deposits and foreign currency
- is on a list that most exchanges don't want to touch
Will definitely be more of a targeted user for this service than I am, but of course this would be just my assumtion, higly possible that future feedback would prove me wrong.

I think it is going to be a working model but I don't think it will be profitable at all because people from those countries can use p2p services to covert their crypto currencies into fiat money.

They will be offering the same service I assume, so you either trade with a guy over Bisq or you trade with a guy designated by dex.fo.

[Z-tight]

Fair questions — we should have explained more in the first post. We mean real physical cash, delivered by courier. It would be a separate option alongside the automatic swaps, not part of them, and that's why we started with a poll rather than an announcement: we want to see where there's real demand before building it.

I appreciate the clarification.

I voted 'no, not needed', but that's from a personal standpoint. Dex.fo is my go-to for crypto to crypto swaps, but as for crypto to fiat swaps, i can already do that easily. In addition, i'm not sure i would want to use this service, because of the 'extra' measures i'd have to take to get my cash 'safely' and without any future danger to myself.

And even if this service was available in my region, i'd use it seldomly, just on very rare occasions. So, that's the reason for my 'no' vote.

[DEX.fo_off]

Are you guys going to implement this or planning it for now?

If I met a stranger (no matter his affiliation, for me it's a stranger)

i'm not sure i would want to use this service, because of the 'extra' measures i'd have to take to get my cash 'safely' and without any future danger to myself.

Thanks to everyone who voted and shared their thoughts — you're right. Cash handed over by a courier means meeting a stranger in person, and that doesn't fit what DEX.fo is about. So we're not going ahead with cash payouts: we'll keep the service as anonymous as it is now.

Your feedback made this an easy decision, and we appreciate it. And for those who've been asking: Solana is already in development.

[bitmover]

Please vote in the poll at the top of this thread.

If you voted Yes, let us know in a reply:
— which countries or cities you need it in;
— which currency you'd like to receive;
— what amounts you have in mind.

The more detailed your answers, the faster and more precisely we can launch it. Thanks for helping us grow!

I am from Brazil and I would like to see such payments

There is an specific bank payment method use for amy kind of bill that is called "boleto", which allows anyone to pay using a bar code. I saw some crypto services supporting it already.

[SamReomo]

Thanks to everyone who voted and shared their thoughts — you're right. Cash handed over by a courier means meeting a stranger in person, and that doesn't fit what DEX.fo is about. So we're not going ahead with cash payouts: we'll keep the service as anonymous as it is now.

That's a very good decision to be honest because cash payouts won't keep the anonymity of the platform and the services that DEX.fo is providing are already more than enough for privacy focused people.

Those who prefer privacy know well how to convert their crypto to cash later on so I think DEX.fo team did well by hearing suggestions of reputed members of the forum.

[joker_josue]

🗳️ Poll: cash payouts worldwide

We're considering a new service — cash payouts for crypto in different countries around the world. Before we start working on it, we want to understand how much our users really need it.

Please vote in the poll at the top of this thread.

If you voted Yes, let us know in a reply:
— which countries or cities you need it in;
— which currency you'd like to receive;
— what amounts you have in mind.

The more detailed your answers, the faster and more precisely we can launch it. Thanks for helping us grow!

Would the idea be something like a card for making payments?

In Portugal, a service of this kind would be interesting.
I think it all depends on the payment methods used. If they can leverage some payment services that already exist locally, that could be a big advantage.

As for the price, it depends, but I think something around €50-100 for everyday use could be a good starting point.

[MarryWithBTC]

Thanks to everyone who voted and shared their thoughts — you're right. Cash handed over by a courier means meeting a stranger in person, and that doesn't fit what DEX.fo is about. So we're not going ahead with cash payouts: we'll keep the service as anonymous as it is now.

I was the first that voted and I voted against the idea, but I didn't make any comment about it. I had no compelling reason to vote against it rather than, I do not need the service. In my country, it's easy to swap to fiat.

After voting, I realized I was selfish, some people in some part of the world might need the services - people with strict crypto rules and regulations.

The vote result is very close, the difference is not much, which indicates mixed feelings.