You have created an amazing project here and I'm already loving everything, from the UI to the functionality of your platform and even the personalized forum which you have created. This is the first no-KYC exchange that is offering p2p services and that is a welcomed development. However, I need some clarification especially on the p2p services which is one of your selling point. Given the sensitivity of p2p services, how do you settle dispute between merchants and users when they occur like one party claiming to have made payments ( since verifiable name like those in official documents are not needed)? I know your blog (
https://blog.bitania.com/) did a wonderful job explaining the p2p operation and even safety tips to avoid p2p scams, but it seems I did not clearly get the aspect of dispute resolution well explained.
P2P dispute resolution can be a tricky topic and is handled on a case-by-case basis. P2P traders who run their own advertisements are expected to define clear terms within their advertisement. This aids us in a clear resolution process. The actual payment of a transaction can often be proven on-chain or through methods like screen recordings provided to the moderation. Most importantly, our moderation team is built from P2P veterans who understand the many nuances that come with P2P trading, and are ready to handle disputes of any complication level.
I have no comment on the view, as everything looks good. But in regard to coins accepted, I think there is something they need to improve. The more coins accepted, the more it attracts traders.
Still exploring the site, though.
You are correct. But by simply adding support for a new coin, does not mean users will be able to trade this coin.
Bitania is only a vehicle to facilitate trade between other traders, not a liquidity provider for swaps. We wish we could add 10 more coins. We already have the next few planned! But without the liquidity/ volume, these pairs would remain empty/ not traded.
Stick around, and you'll see as Bitania grows we'll slowly add more coins and new projects!
Welcome to bitcointalk!
I was wondering if Bitania team is willing to put a decent amount in a trusted escrow just like how other exchanges did? I personally like this approach as it builds further confidence with users especially if the service in question has just started promoting in bitcointalk.
Through Bitania's partnership with various swap service aggregators, we are willing to provide escrow there for their users. Otherwise we are not sure where/ what we would put. Which other exchanges are you referring to? Which escrows?
The fees for taker and maker are competitive enough, not the best but not the worst and it's good to know that such fees can be reduced lower in the future.
https://www.cryptowisser.com/exchanges/Yes. We feel these fees are quite competitive for a fully no-KYC exchange.
Small liquidity and trading volume are very normal with new and small exchanges, especially with exchanges that focus on privacy. Like Bisq, that P2P marketplace has very low trading volume.
Exactly. We are actively in the process of securing some 3rd-party liquidity providers/ market makers. So stay on the lookout for fuller books on Bitania!
Having it in your exchange to-do list is good but I suggest to consider applications for 2FA than emails but certainly your exchange can provide both email and 2FA applications as 2FA options for users to choose one for their account customization.
Let me restate to say that optional email support alongside existing MFA 2FA is high up on our TODO list and should be available to our users soon.
Fees are not a problem at this time, as liquidity is the most important thing because it controls the speed of order execution.
Agreed. This is why making our books thicker is our main push at the moment as most casual users/ traders are simply coming on and placing market orders. We want to offer not only the best fees but the best spreads as well.
Or it could be the combination of 12 recovery words, which is something that is becoming increasingly common in many services.
We have actually already implemented a recovery seed key on the P2P website. It is simply a miscommunication during the development of the CEX that we slipped adding this into registration there as well. We are going to correct this now.
But yes, having as many 2FA/ recovery options available to our users security and convenience is a priority of ours.
Ok, this is weird. What exactly does this gap in the Bitania chart mean?
It seems like there was an exchange downtime.
Thank you for pointing this out as it allows me to clear the air on an aspect that I know is confusing at first on Bitania.
Firstly, there was no downtime of the Bitania service.
On Bitania's charts, there will be some periods where the chart is printing flat.
This is because Bitania's charts always track the last traded price. If XMR/ USDT trades at 350$ at 00:00 and then there's no trades for 12 hours then we'll see 12 1-hour candles all just showing an OHLC of 350$.
Through our own and some trader's market making via limit orders (which involves bots using oracle prices from Kraken, Binance, etc), we are able to have books that
mostly reflect the widely accepted price of each asset on the major exchanges.
Related, sometimes users write regarding how Bitania's charts or price of an asset is not an accurate reflection of the "true" or "real" price of the asset. This is not how CEXs work.
The true price of XMR/ USDT for Bitania is as defined on Bitania's books. The current price you see on Bitania for any asset is what it was last traded at on Bitania.
So with all that being said. It does mean that the price you see on Bitania for any asset may at say, intervals of extreme market volatility, not accurately mirror the major exchanges. Our goal is not to offer crypto assets at major market rates, but to allow for the free trade of these cryptos at the price level determined by Bitania traders.
