The first question from retailers - how easy is it to convert to cash?


#1

Are others concerned that a push toward marketing and spreading the word about ETN instant payment adoption may be hamstrung if there is not an adequate method of exchange back into cash?

Most retailers will not want to carry ETN risk and will be looking to see how easy it is to convert back into their local currency. If they find that ETN isn’t sufficiently traded on cash exchanges it could be a large obstacle for them.

There is a chicken and egg element of course because spreading the word and instant payments generates liquidity and makes it more likely we achieve cash exchange liquidity and listings. So far all our liquidity seems to be on crypto to crypto exchanges and pairings which seems problematic…


#2

Best option would be to do it programmatically as soon as the sale is made. One can set up a script utilizing exchange APIs to immediately convert any incoming transfers to some other currency.

However, as of now there is no way to programmatically send funds from your online (vendor) wallet. You’ll need to send it to an exchange manually to get the process going. Perhaps the team might consider building an API for managing the online wallet in future.


#3

Important is to have a gateway like this or have dealers that will help you to change it directly but you will need thousand of to cover the whole planet…


#4

Wasn’t the plan to use Qoine/Liquid in order to add this functionality as part of their partnership deal?

I’m sure I didn’t dream this but everyone seems to have missed/forgotten about it.


#5

Just read this post with great article I think that nobady forgotten but 1st we need to have KYC on most accounts :wink:


#9

This is the reason Quorra Merch doesn’t have Instant Payment active. Hit the nail on the head


#10

I have approached a couple of businesses in town and they asked the same thing.
Then I told them how they could convert, and they looked at me like I was crazy lol.


#11

Talk to ARK about ACES. This should be easy to setup as they already have a working product.


#12

Other coins have gotten debit cards very easily if they are compliant with regulations as are ETN surely they can secure a deal with someone to convert it into cash. I think this is important to as some of you have said hopefully it’s something they can tackle sooner then later. It might not be in the most traditional way but Im sure they will have easier options soon they must get asked about it in there deals.


#13

I read this too. Which is why I have a kyc’d account on http://Liquid.plus