Basically we divide 2 type of trade, one is Local Exchange (P2P Exchange) and other is International Trade for [login to view URL] as described as following:
1. Local Exchange: Peer to Peer Exchange
A cryptocurrency escrow in which an amount of crypto is held by our platform on behalf of two other parties that are in the process of completing a transaction.
1.1 First seller select which cryptocurrency and which country's currency they want to sell and create an ads.
1.2 A seller post a sell ads maximum number of crypto, USD currency rate vs local currency and bank information.
The USD/crytocurrency price will follow the last transaction price at international trade.
1.3 Buyer will select which seller they want to buy from a list at frontpage.
1.4 Buyer click buy and specify number of crypto they want to buy.
1.5 At this time the amount of cryto in wallet of seller will be hold and buyer will have to deposit cash to seller bank account within 15 minutes by default. After done payment buyer will have to click I have paid seller.
- Each transaction our site will charge 0.5%.
- After seller check payment receive in bank account then he/she will have to click I have receive payment to complete the transaction.
- System will release crypto coin to buyer wallet.
- If seller claim not receive payment then a dispute will be initiated. Both party will have to chat and admin will be a judge and determine whether to release crypto to buyer or return to seller if buyer cannot provide payment prove.
- After complete the transaction buyer and seller can give rate and review for each other.
- Daily email send latest price to each user in the morning 6am.
2. International [login to view URL] user to do the following actvities:
- Buy and Sell the listed cryptocurrency with basic 3 type of orders which are Market, Limit and Stop.- Funding with deposit and withdrawal of each cryptocurrency.- Account Level to limit the amount of withdraw and other activities.- History record for each transaction for trade and funding.- Margin Trade and funding (allow members to lend their fund which they can earn interest) function in half years.
- Manage user's account information such as name, email address, phone number.
- Manage deposit and withdrawal of each members.
- Manage level limits for each member.
- Allow admin to check transaction records of trade and fund for each members.
- Report and summary of trade and fund.
- Manage transaction fees for each trade.
- Manage cryptocurrency: add new, remove/inactive and arrange from the active trading list.
- Each transaction will charge 0.2% transaction fees
- Maintain system along the business
- Prepare new cryptocurrency whenever require.