Converting Fiat to ETN without a bank

Thanks, I’ll try. One way to do it is to integrate exchanges like WU, MG, and others. At the moment, it is the best method that doesn’t involve banks.
Only that an escrow has to be created as well within the platform, so that when the buyer confirms the payment being made, the seller releases the ETN which will be held in escrow until he confirms the payment as well.

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Thanks

Using escrow is a safer option as the funds are only swapped when both parties have paid in. One thing is there is an overhead for this service which would be chargeable at some point.

Another is at some point someone has to handle that FIAT even if its via Paypal which brings in the element of fraud which is rife in crypto due to its untraceability .

The people who buy bitcoins from me do so because they trust me to send it and I trust that they are not scamming me. Getting to this stage has been a cautious one from all parties, but if there is a way to fasttrack this process I would sign up straight away.

Your relationship with your clients represents a best case.
But when the whole world wants to trade, you may come across some dubious beings who may try to scam you.
I am thinking of a KYC verified account for each client on the trading platform, so there won’t be any fear of money laundering.
Just saying, the subject is way deeper than this. :slight_smile:

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yes there’s still a long way to go with this.

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Mind blowing idea mahn…

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Thanks,
Working on it now with a new design and ideas to help.
I’ll keep you all posted.

Richard will definitely takes care of it…

this is a good idea, here in philippines we have this coin.ph, were we can convert coin to fiat just thru any remittance center, as easy as that, for more info regarding the application you can search it, coin.ph

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looks interesting

https://coins.ph/online-bills-payment/

i told you, we have it here in philippines, that and it has 5million user, and you can also directly covert your fiat to coin, just thru the app. as easy as eating bread, hehehe. if etn team can do that kind of application, that will be great as mass adoption, and be mind, that it has a go signal with goverment,

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@Bitinix
Nice idea you have, we need something like localbtc but for etn.

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Thanks @IGOR, definitely something similar to LBC but promoting also promoting methods without the use of banks. Basically cutting out all the middle men :slight_smile:

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I hope i will see that one day. I love when people contribute to ETN Project, helping it to became more better and became Top Coin.

Yes me to, We can’t expect Richard Ells to do everything,
Besides from collecting and hodling coins, We can all be apart of of Electroneum’s success by using our skill to contribute to project.
What I’m doing may work for everyone, or it may not, but I’ll enjoy having a go. :wink:

I love it! Fantastic idea and will love to see the final version when ever that is ready!

How have I not seen this yet it looks awesome :slight_smile:

Awesome!! My only question is would this be illegal as they would be acting as an exchange without a license?

Thanks @Danny
Still a lot of work to bring this to fruition but it will happen … :sunglasses:

Each country will have its own rules and regulations on buying & selling crypto currencies.
you must always do your own research .

For myself ( in the UK ) there is no ‘specific’ license required
to be a ‘crypto currency exchange’.

I have a similar idea to yours, it involves phone operators…

Link