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

[NotATether]

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.

Yeah, as much as I love you guys, I do not want to get shot and/or beaten up by a rouge cash courier.

By the way, I am looking forward to the launch of your API. I have a need for that, so when that goes live, feel free to DM me.

[Z-tight]

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

No, there is no mention of card. It is simply crypto to cash, just like f2f trades. Here you're trading your crypto for cash in dex.fo and they deliver your cash physically through courier.

And for those who've been asking: Solana is already in development.

And a lot of users have been asking endlessly, lol. I guess it is not too long before you roll it out.
Well done dex.fo, you are doing great in the community.

[joker_josue]

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

No, there is no mention of card. It is simply crypto to cash, just like f2f trades. Here you're trading your crypto for cash in dex.fo and they deliver your cash physically through courier.

I understand. But I have some doubts that they can do that without KYC.
But, I will be waiting for news.

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[Z-tight]

I understand. But I have some doubts that they can do that without KYC.
But, I will be waiting for news.

It can easily work without kyc, just like f2f trades work in Bisq. Customers would simply process the trade in dex.fo, including the location for the meet-up and all, then a courier will arrive at the location with the cash. However, dex.fo are no longer moving on with this plan of crypto to cash, so i don't think there would be further news on this, unless they change their mind on it.

So we're not going ahead with cash payouts: we'll keep the service as anonymous as it is now.

[DEX.fo_off]

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.

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.

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.

That's a very good decision to be honest because cash payouts won't keep the anonymity of the platform

Thanks for all the input — bitmover, the boleto example from Brazil and joker_josue's thoughts on local payment methods in Portugal are really interesting. MarryWithBTC, you're right that the result is close and people clearly have mixed feelings. Still, for now we're keeping the service as it is: courier cash would mean meeting strangers in person, and that goes against the anonymity our users value most. Everything you've shared is noted, though, in case we ever come back to the idea in a different form.

By the way, I am looking forward to the launch of your API. I have a need for that, so when that goes live, feel free to DM me.

Great to hear, NotATether. The full API is in development, and we'll announce its launch right here in the thread — you won't miss it.

And a lot of users have been asking endlessly, lol. I guess it is not too long before you roll it out.
Well done dex.fo, you are doing great in the community.

Thanks, Z-tight — and for explaining the idea to others while we were away 😄 Solana is first in line.

[Peanutswar]

[]
🗳️ 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.
[...]

1. Seems dex.fo is one of the trusted but right now I guess Philippines arent yet ready for this but if there is a chance to be added on your list why not.
2. Is this included supports with the use of the banks? or Just crypto payment because right now its common to use an e-wallet or bank deposit like a p2p feature.
3. BTC and other supported crypto tokens right now Dex.fo and just basic rates converted into our local currency. Like

Code:

0.001 BTC -> Php 4929.04

[Hamza2424]

2. Is this included supports with the use of the banks? or Just crypto payment because right now its common to use an e-wallet or bank deposit like a p2p feature.

They were planning on face-to-face deals where someone would deliver cash to you. Just a post above yours, this was discussed, and dex.fo replied to all the members who cleared this out. But they were not talking about banks or other e-wallets because they don't give complete anonymity.

Although, if banks introduces some way to receive and send money anonymously, that would be a lot better feature. But if they added a check first, so someone could only send clean money from banks to me, or I could send it to others, that would help. Banks' AML standards are based on a many things, and one of the problem that I have seen people receiving stolen money in P2P trades and then getting flagged and blamed for it all. So, a check implemented by banks, like a certificate that the money is clean and trouble-free, would be useful.

[inspace]

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✨ A new raffle is live, and we'd love to see you take part.

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➥ Pick a SLOT!
➥ Publish a screenshot of the DEX.fo valid letter of guarantee using PGP Checker
➥ The winner will receive a prize of $30 in BTC! 🎁

Good luck to all participants!

[stompix]

Although, if banks introduces some way to receive and send money anonymously, that would be a lot better feature.

Hell will freeze ice cold and flying pigs will drop gold poo before this will happen.
No way banks will ever deal with anything anonymous;,you can't even deposit money to someone who is already KYCd by them anonymously, and with the damn all online stuff as there are fewer and fewer actual cashiers, you can't even deposit cash with an ID to someone's account now.

So, a check implemented by banks, like a certificate that the money is clean and trouble-free, would be useful.

Stop giving them such ideas or sooner or later we're going to see things like my wage having a 70% AML score because the company sold a car to a guy that received money from a guy that was in jail 20 years ago for speeding 2 km over the speed limit.

Yeah, as much as I love you guys, I do not want to get shot and/or beaten up by a rouge cash courier.

Yup, too many variables when meeting such a person, this is why I said it's a stranger no matter the affiliation
- courier beats up client
- client beats up courier
- courier is tracked by shady guys who find out what he is doing
- courier is tracked by police cause ...reasons

[logfiles]

Just seen the poll question regarding using cash payouts for crypto in different countries around the world. Much as I would love this to even happen. I don't think it's possible or maybe i just don't know how you guy plan on pulling this off if it's not the p2p exchange kind of model.
Even p2p exchanges have been pressured in the past by regulators with most of them deciding to voluntarily enforce KYC verification on the users or completely shut down operations.

[examplens]

Just seen the poll question regarding using cash payouts for crypto in different countries around the world. Much as I would love this to even happen. I don't think it's possible or maybe i just don't know how you guy plan on pulling this off if it's not the p2p exchange kind of model.
Even p2p exchanges have been pressured in the past by regulators with most of them deciding to voluntarily enforce KYC verification on the users or completely shut down operations.

As far as I understood, the idea of ​​p2p in live exchange was in the plan. By live, it means man-to-man.
However, after everything, they gave up on that idea because it is too demanding and has quite a few weak points that are difficult to cover.

[hosemary]

Just seen the poll question regarding using cash payouts for crypto in different countries around the world. Much as I would love this to even happen.

I first thought that by cash, they meant fiat currencies sent to people's bank accounts. I was really surprised when I realized they meant physical cash.
I may not have enough information about how this would work in different countries, but I also think that's against the rules in most of the countries.

[logfiles]

I may not have enough information about how this would work in different countries, but I also think that's against the rules in most of the countries.

These means they would have to go the p2p way unless if they would have agents across different regions in different countries which is just not sustainable. Bitcoin ATMs are also not widespread across the globe and the fee rate would be absolutely huge for the final consumer

Perhaps there is another way which we many have not thought about.

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[SamReomo]

I first thought that by cash, they meant fiat currencies sent to people's bank accounts. I was really surprised when I realized they meant physical cash.
I may not have enough information about how this would work in different countries, but I also think that's against the rules in most of the countries.

I think the idea was to send cash via courier to someone's doorstep and to be honest from privacy perspective it was not okay that is why everyone suggested them to avoid such implementation. The Dex.Fo is known for its privacy services and adding cash payments would be something against the privacy thing and that's why many members suggested them to continue providing their current top level privacy enhancing services instead of that cash payments. To be honest, in many countries it would cause serious issues if someone finds any information about such trades so for everyone's safety the discarded the idea.