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Start A Dcr / Usd Exchange

Discussion in 'Exchanges' started by blackdragon, May 13, 2017.

  1. blackdragon

    blackdragon
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    Hi everyone,

    Currently, users wishing to purchase and / or sell Decred must go through Bitcoin exchanges. There are a few of problems with this strategy:
    1. indirection and complication
    2. crypto exchanges can be daunting for new users
    3. lack of direct relationship to fiat currencies
    4. problems with Bitcoin (for example, long confirmation times) interfere with Decred trading

    If, on the other hand, Decred had its own fiat exchange, the community would experience a number of benefits:
    1. easier for new investors: more trade volume
    2. easier for merchants: more utilization of the platform
    3. because of the above, increased public interest in Decred

    I thought it would be interesting to assemble a group of people and at least discuss what it would take to create a fiat exchange for Decred. Obviously, this would not be an easy undertaking with all the surrounding regulations and technical complications; however, both personal and community benefits of such an exchange could definitely make this worth your time.

    Feel free to comment below or message me if you would like to consider this opportunity.
     
    Johnshpon3 likes this.
  2. Szfinx

    Szfinx
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    There is already at least one. https://changelly.com/
    The problem with this exchange, the price is prohibitively bad.

    If you have a good idea how to make something similar with acceptable prices, I would be interested in it.
     
  3. mreichardt

    mreichardt
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    I would love to make this exchange proposal a reality. The question is how to avoid legal trouble with AML (anti-money laundering). Would I need to LLC? I would prob charge a nominal 5% total charge (merchant would be 2.5% + $0.30 netting me just under 1.4%).

    Thoughts? Would anyone be willing to donate DCR for the cause/time needed to make this a reality? If C0 would be willing to take legal liability I would just do it for a bounty.
     
    ClokworkGremlin likes this.
  4. Noah

    Noah
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  5. sumiflow

    sumiflow
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    I'd definitely help out with this if a person with the right expertise wanted to start it.
     

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