We will also be adding a guaranteed deposit in the near future so users can feel confident in the service in practice.
This is a good decision to add letter of guarantee. Some exchange also apply guarantee money to campaign manager so the platform get more trust from forum member, maybe you also need to consider similar thing. I think you can also add the project on bitlist.co, because this platform is used by bitcointalk user to give review, so besides from trustpilot there is more place for user to give review and I haven't found priamex on bestchange, is this still in process?
One day a client is going to have their funds frozen by one of the CEXs which will demand KYC verification, and this will come back to haunt you and probably mess up your reputation. The client will definitely say you lied. It's better a client knows what he is getting into beforehand.
This can be avoided by accepting deposits to an address under its control and conducting the necessary AML checks; if it fails to pass them, a refund is generated. The platform does not promote itself as noKYC, but since KYC may be requested, they must display the license number and necessary legal information.
We will also be adding a guaranteed deposit in the near future so users can feel confident in the service in practice.
This is a good decision to add letter of guarantee. Some exchange also apply guarantee money to campaign manager so the platform get more trust from forum member, maybe you also need to consider similar thing. I think you can also add the project on bitlist.co, because this platform is used by bitcointalk user to give review, so besides from trustpilot there is more place for user to give review and I haven't found priamex on bestchange, is this still in process?
We hear this concern and it's a fair one. To be clear: we operate without KYC, we do not collect or request identity documents from users under any circumstances. If a CEX liquidity partner in the routing chain freezes a transaction, that responsibility falls on us, not the client. The exchange is completed regardless: if the CEX does not unfreeze the funds, we complete the swap from our own reserves.
SFR10, the bug you pointed out has already been fixed.
Fixed by just changing the text or was something really done?
Regarding our AML policy: like any service, we strive to provide the best possible service, but our top priority is our users' privacy. In practice, our service does not have KYC procedures, and in certain cases we do process refunds.
Yamane_Keto, regarding reserves: we use mixed liquidity, which allows us to pay out funds to users directly from CEX platforms, since most users prefer to receive funds specifically from a CEX with minimal AML risk.
Mixed liquidity and no-KYC do not go together. This has been repeated several times, but here it is again. For the user, it is completely irrelevant that you do not ask for KYC if your liquidity partner will ask for it. Even that is a difficult situation, because in that case you are an unnecessary mediator.
We will also be adding a guaranteed deposit in the near future so users can feel confident in the service in practice.
What kind of deposit? Planning to deposit some funds in escrow here?
We will also be adding a guaranteed deposit in the near future so users can feel confident in the service in practice.
I think this should be urgently included in the service as it will be crucial for users. Confidence comes in different forms, but for someone who uses services that involve finance, I think that should be present at all times. By "near future", do you mean weeks or months?
Yes, this will be an escrow deposit. Terms are currently being finalized with Royse777. The deposit will be made within the next couple of days, we'll post the address and details here as soon as it's confirmed.
Welcome to the forum!
You did well by hitting the ground running immediately with a signature campaign. I became aware of this service from the campaign launched by AB De Royse777.
Feel free to interact with the community and be flexible to accept good suggestions that will help improve your services.
From this statement, it means that in some certain conditions, you do not process refunds and the funds are lost?
Regarding our AML policy: like any service, we strive to provide the best possible service, but our top priority is our users' privacy. In practice, our service does not have KYC procedures, and in certain cases we do process refunds.
to clarify, funds are not lost. "In certain cases we process refunds" refers to technical failures on the swap side or errors in the recipient address, not scenarios where client funds simply disappear. We'll tighten this wording in the ToS to remove any ambiguity.
