Welcome to the Dash Forum!

Please sign up to discuss the most innovative cryptocurrency!

Solving DASH'S single biggest problem: instant country fiat <>DASH w/o BTC

Discussion in 'General Discussion' started by eric_erik, Nov 27, 2017.

  1. eric_erik

    eric_erik New Member

    Joined:
    Nov 27, 2017
    Messages:
    2
    Likes Received:
    0
    Trophy Points:
    1
    I was a market maker for thin markets at the CBOT for 22 years so I know what I'm talking about here. DASH needs market makers in every city something like localbitcoins.com but faster and lighter between usd cash (or any other country fiat<> DASH.

    The market makers might charge whatever they can get (3 to 7% is typical) but so what, it's anonymous.

    It has to be simpler than localbitcoin.com with no localbitcoin wallet. Just need country, city, email, address and % spread bid/ask so at meeting time the transaction would only take a few minutes. DASH SHOULD PROMOTE THIS FROM THE TREASURY AND BUILD THE SIMPLE COMM SYSTEM!
     
  2. Teague

    Teague New Member

    Joined:
    Nov 16, 2017
    Messages:
    8
    Likes Received:
    3
    Trophy Points:
    3
    Another stumbling block is how can one buy Dash without going through a personal bank account, as the bank's charges are way too expensive for the poor people, ie: loosing ZAR50 a month to bank charges is not acceptable for people to save since that, is in most cases half a days pay. Having a merchant/retailer accepting fiat for Dash might not work since their bank revenue will be increased with tax ramifications, not sure on the legalities there. The idea of having a Dash ATM that accepts local fiat for Dash or visa versa, can work, I don't think the market is big enough yet to warrant such a machines, and if its feasible legally in South Africa? Since almost everyone has a cell phone, mostly prepaid, One can easily top-up one's prepaid balances at any retailer and using that balance possibly buy Dash through the network? I do know a lot of the poor people in South Africa use this type of service to send money to family whereby the recipient gets an sms with a code that one can type in at any ATM and receive the cash, although I think the sender does it via a bank account or retailer. Partnership with a cellphone network provider or large retail store, could work. Just trying to find a more user friendly system to purchase Dash in South Africa. Anyone with ideas would be much appreciated.
     
  3. Cart

    Cart New Member

    Joined:
    Dec 1, 2017
    Messages:
    7
    Likes Received:
    1
    Trophy Points:
    3
    I think, it is a great deal for a lot of cryptos right now. But I hope that DASH is the frontrunner in this domain and will be the first coin besides BTC to have a permanent Fiat Gateway. Would be great for new users to easily get their new coins.
     
  4. Rob47

    Rob47 New Member

    Joined:
    Dec 2, 2017
    Messages:
    4
    Likes Received:
    0
    Trophy Points:
    1
    I'm experiencing this problem as well. Been trying to find someone or some way to buy Dash directly in Los Angeles but there are no ATM's that supply Dash as of yet and doing a coin for coin trade is kinda pricey especially with prices of each fluctuating a lot lately. There are 3 ATM's in Oregon but thats a bit too far away to make it worth while when Im just trying to buy a Dash or two at a time.
     
  5. Koromoto

    Koromoto Member

    Joined:
    Dec 2, 2017
    Messages:
    49
    Likes Received:
    5
    Trophy Points:
    48
    This is paramount for DASH adoption and can not be emphasized enough. Also Dash Tokens for easy conversion between local currencies and DASH while taking the e-commerce world by storm with the help of non-geeks who don't want to make currency conversions, just buy a bag of bread for one US-DASH token and not for 0.00645123 or whatever price of the day. DASH could become the world reference for fiat conversion from/to cryptos with the advantage of instant transactions.
     
  6. Cart

    Cart New Member

    Joined:
    Dec 1, 2017
    Messages:
    7
    Likes Received:
    1
    Trophy Points:
    3
    This is a really good point you have here. A lot of the people can't relate with the abstract concept that you can divide coins. They think you can only buy full portions of coins..
     
  7. camosoul

    camosoul Well-known Member

    Joined:
    Sep 19, 2014
    Messages:
    1,816
    Likes Received:
    1,058
    Trophy Points:
    183
    Of every major city which I have visited (which is admittedly, not very many; I hate cities), I have not failed to find a DASH/FIAT trader happy to help me.

    Doesn't Kraken have a DASH/USD pair?
     
  8. solarguy

    solarguy Active Member

    Joined:
    Mar 15, 2017
    Messages:
    449
    Likes Received:
    187
    Trophy Points:
    113
    Kraken does USD --> Dash with using Bitcoin as an intermediary.

    So does the new integration at https://uphold.com/

    And let's you convert to several/many different fiat currencies and even precious metals. And (reportedly) much better User Interface than Kraken, which is not saying too much. Uphold supposedly gives 94% of everybody access to crypto/fiat services. Worldwide everybody.

    Kraken needs some stiff competition to get their act together.
     
  9. strophy

    strophy Member
    Dash Support Group

    Joined:
    Feb 13, 2016
    Messages:
    116
    Likes Received:
    70
    Trophy Points:
    78
    Yeah I used Uphold today and was extremely impressed. Small fees here and there but an extremely friendly user experience and no delays.
     
    • Agree Agree x 1

Share This Page