What makes you trust an instant swap service? We'd value your input

[noxswap]

Thanks, both points are really helpful.

On escrow: noted, a long-standing forum member holding it seems to be what most of you trust, more than a catalog.

On the code idea: I like that it never touches order IDs or addresses. The one catch is that the code itself ties your swaps together for whoever holds it, so it would have to be optional and only ever store a running total. Worth thinking through properly, thanks for that.

[348Judah]

1. What makes you trust an instant exchange enough to send it real funds for the first time?

Life is full of risk, and we cannot avoid it completely, even when trying to get the best of what we can achieve when using any services. Some people would have researched a particular instant exchange and see how reputable it is before using it for their swaps, while some may only afford to take the risk and see if it is up to the required standard to be trusted.

[The Cryptovator]

As a forum user, once I need to use an instant swap, then I search on the forum and check their announcement thread, whether it is active or not. Then check their representative forum profile to check if they are red-tagged or have positive feedback. I avoid red-tagged instant swaps. Then I try to verify whether they have any escrow funds on the forum or not. I won’t swap more than escrow funds.

Also, KYC is a matter for me; if I need to use KYC, then I will simply swap from the centralised exchange instead of choosing a KYC instant swap. Doesn’t make sense using KYC swap when I have an account on the centralised exchange. The most frustrating thing is if I need to wait longer to receive my funds back after proceeding with the swap.

[noxswap]

Some people would have researched a particular instant exchange and see how reputable it is before using it for their swaps, while some may only afford to take the risk and see if it is up to the required standard to be trusted.

Fair point, and for the second group the test should cost as little as possible. The minimum is about $50, the rate is fixed so you know exactly what arrives, and if you add a refund address a failed swap goes straight back to it. If you feel like trying us that way, a small first swap is exactly how we'd want to earn it, and any feedback here, good or bad, is welcome.

[noxswap]

Then I try to verify whether they have any escrow funds on the forum or not. I won't swap more than escrow funds.

That's a really useful checklist, thanks. Active ANN thread and rep feedback we can show already; escrow keeps coming up in this thread, so it's clearly the next thing for us to set up properly with someone trusted here.

On slow refunds, agreed, that's the worst part. With a refund address on the order there's no ticket and no waiting on us: a failed swap is sent straight back. If you ever give us a small test swap, I'd really like to hear how it went against your checklist.

[NotATether]

The more funds you have deposited in escrow, the more funds users will trust you with at once. It's inevitable. Although escrow here is usually done by contacting ineividual Bitcointalk members here.