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

[joker_josue]

If you'd rather avoid that altogether, try Fast & White: it pays out from our own reserves, so this kind of bridge-related refund doesn't happen there.

I forgot to mention, but the "Fast & White" option wasn't available at the time. But now I see that it's enabled.

Either way, I'll try again. When I do, I'll give feedback. Thank you for your support.

[Hamza2424]

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.

Haha, by the way hell also have freezing places not just fire. I just hope they will give us something like this one day.

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.

Haha, that would be diabolical. And I'm sure this is not a unique idea. They already have hundreds of them. AML is already a thing, if not in percentage terms for us, but internally for them. A friend of mine once said he received funds from someone that were frozen by the bank due to high AML risk, even though the money was sent by someone he knew and there was nothing wrong with it.

I think banks usually freeze money when they have to get their hands on our money to show it somewhere else, and they do it unless they don't need it anymore or find another person to replace our money with.

[DEX.fo_off]

I forgot to mention, but the "Fast & White" option wasn't available at the time. But now I see that it's enabled.

Either way, I'll try again. When I do, I'll give feedback. Thank you for your support.

Thanks for the update — that explains it: you caught Fast & White during a maintenance window. Now that it's back on, it should go much more smoothly. Looking forward to your feedback!

[SamReomo]

AML is already a thing, if not in percentage terms for us, but internally for them. A friend of mine once said he received funds from someone that were frozen by the bank due to high AML risk, even though the money was sent by someone he knew and there was nothing wrong with it.

In case of fiat, banks often freeze the balance when an account owner reports a complaint to the bank. The AML score doesn't apply to banks they mostly freeze the money when they receive a complaint from the sender's account. Someone who sends $500 from his account to someone else account and then reports a complaint to bank's customer support that the transaction wasn't a legit or someone stole the account and then sent the money. In such case banks freeze the balance in the receiver's account.

However, when we talk about cryptocurrencies then things get different. Some exchanges allow coins to be swapped that are high in AML score but majority of exchanges don't allow high AML coins. Especially the top KYC centralized exchanges freeze the coins if those have high AML score and same is true for even some non-KYC exchanges. Only a few no KYC exchanges have such options where they accept high AML coins but they charge some extra fee for such service.

[Hamza2424]

In case of fiat, banks often freeze the balance when an account owner reports a complaint to the bank. The AML score doesn't apply to banks they mostly freeze the money when they receive a complaint from the sender's account. Someone who sends $500 from his account to someone else account and then reports a complaint to bank's customer support that the transaction wasn't a legit or someone stole the account and then sent the money. In such case banks freeze the balance in the receiver's account.

So you mean if a blacklisted entity sends me funds, it won't be a problem for me, but if an entity on the BTC blockchain sends me funds, that becomes my problem? Bro, AML is real in banks, and they have to implement it by law. They can't just ignore suspicious activity or freeze a bank account without any reason. They have to run AML 24/7.

Although complaining is also one of the things.

Only a few no KYC exchanges have such options where they accept high AML coins but they charge some extra fee for such service.

If they are accepting your problems and giving you relief, then an extra fee is not a problem. Let's say if someone sends me high AML funds, where I would convert them, who would receive it from me, I can send them to someone and make it their problem but I would not want this. I would not put anyone in any trouble unless someone is offering a service to take your problem away from you. Now, no one wants high AML coins in their wallets, so a service like this can really help you because in these hacking and god knows what is going on things, we sometimes receive high AML coins even if we have no links.

[examplens]

I am now looking at the letter of guarantee, and it catches my eye "Address Valid: 30 minutes..."
What happens after 30 minutes and if the user sends funds after that time?
As far as I understand, a new address is created for each order, so the address will not be assigned in another order after 30 minutes, so there is no risk of double use.
To avoid guesswork, how do you ultimately manage such cases?

[inspace]

Friends, there are only 3 slots left in the raffle! 🎁

If you haven’t joined yet, now’s the time! Let’s fill the remaining slots and announce the winner! 🏆🔥

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

Whether you're feeling lucky or simply want to join the fun, now's the perfect time to grab a slot. Once all spots are taken, entries will be closed and the raffle will begin.

    ♻️ DEX.fo 💚 FREE RAFFLE 💚 $30 in BTC!

➥ 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!

[DEX.fo_off]

I am now looking at the letter of guarantee, and it catches my eye "Address Valid: 30 minutes..."
What happens after 30 minutes and if the user sends funds after that time?
As far as I understand, a new address is created for each order, so the address will not be assigned in another order after 30 minutes, so there is no risk of double use.
To avoid guesswork, how do you ultimately manage such cases?

Good question, and you understood it correctly: every order gets its own new deposit address, and it's never reused for another order, so there's no risk of funds landing in someone else's swap.

If funds arrive after the 30-minute window, the swap won't be executed. The funds aren't lost — the user just needs to contact our support with the Order ID, and we'll process the refund. It goes to the refund address if one was provided, or otherwise back to the wallet the funds were sent from.

So the best practice is simple: send within 30 minutes, and if you miss the window, just create a new order instead of using the old address.

[hosemary]

If funds arrive after the 30-minute window, the swap won't be executed. The funds aren't lost — the user just needs to contact our support with the Order ID, and we'll process the refund.

What if the user makes the transaction within the 30-minute window, but it's confirmed after that?
Will you still process the swap, or will the user have to ask for a refund? What do you exactly mean by "arrive"?

[examplens]

So the best practice is simple: send within 30 minutes, and if you miss the window, just create a new order instead of using the old address.

Yes, it is the best practice, but in reality, far from ideal situations occur. For example, many of them still send coins directly from the exchange, and then it is not always an instant withdrawal.

What if the user makes the transaction within the 30-minute window, but it's confirmed after that?
Will you still process the swap, or will the user have to ask for a refund? What do you exactly mean by "arrive"?

When I tested Dex.fo, right after the transaction was recognised on mempool, and even before the first confirmation, dex.fo marked the order as being in process and recalculated the exact amount I sent. There is no problem on that side.

[aoluain]

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.

Ok, so I guess I'm a bit late in replying to this proposed new service and before I read any more
posts after this. SO I would like to say I would be very interested in this in theory.

I have had it before where my bank is asking questions about the amount of transactions coming
into my account after selling Bitcoin so with cash its easier to manage those suspicious questions.

🗳️ 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!

Western Europe
Euro
Amounts? definitely greater than 5k


I would say also that this is a service I wouldnt necessarily use withing the next 2 or 3 years.

I would prefer to avail of "COURIER CASH" than potentially pay 33% TAX.

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.

aah damnit - I was already thinking this would be a DHL type delivery, brown box at an official
drop off point and I just go an collect my brown box . . .