Post
Topic
Board Project Development
Re: local bitcoin alternative
by
logfiles
on 01/03/2024, 11:47:59 UTC
Is it custodial or noncustodial?
Response: It's a noncustodial platform, fully decentralized.
Since it's noncustodial, does that mean no KYC. You did talk about that bit. Remember, this is a fiat to crypto service. So you are bound to clash with Regulators and Law Enforcement at one point in time. What is your plan to avoid such a scenario.

This is why the term of service are so important. So that the user knows what they are getting into.
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How does the escrow work?
Response: We don't have an escrow service. I prefer not to handle transaction responsibilities due to the workload. The platform operates on a voluntary basis.
So how will disputes get handled if there is no escrow plan? Not all people who trade p2p are genuine, some of them are scammers.

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What are the fees?
Response: The platform is 100% free as a service to the community.
Where will you get money to foot the cost of running the service?