₦airaland Forum

So i am at the beginning of starting this new projects and i am skeptical whether it'll work or if people will be willing to use my product.

It is actually a simple idea.

Nigeria is a large crypto country. My idea is to build a crypto exchanging platform. where you can convert crypto to naira and naira to crypto.

Some people are already running this space. people like monica, patricia and yellowcards to name a few of the big names.

But mine comes with a little twist. Crypto is an anonymous currency and my aim is to keep it that way.

Users can easily change their crypto to naira without needing to create an account on the platform. they can also buy crypto without creating an account.

I'll be like physical trade but this time it'll be completely online but all done without creating an account.

also you can choose to create an account and trade as usual but it wont be necessary.

Each new transaction will recieve a unique tracking code with a unique link so you can monitor your transaction progress and also serves as a reciept that you have completed the transaction from your own end.

what do you guys think about this?

It's a good one. That people are not obligated to create an account, is a nice idea for the business.

Lol. But how will you trace bad deal? Or scammers. What about dashboard...that store the data, from the financial part and the transaction previously?

Host78:
So i am at the beginning of starting this new projects and i am skeptical whether it'll work or if people will be willing to use my product.

It is actually a simple idea.

Nigeria is a large crypto country. My idea is to build a crypto exchanging platform. where you can convert crypto to naira and naira to crypto.

Some people are already running this space. people like monica, patricia and yellowcards to name a few of the big names.

But mine comes with a little twist. Crypto is an anonymous currency and my aim is to keep it that way.

Users can easily change their crypto to naira without needing to create an account on the platform. they can also buy crypto without creating an account.

I'll be like physical trade but this time it'll be completely online but all done without creating an account.

also you can choose to create an account and trade as usual but it wont be necessary.

Each new transaction will recieve a unique tracking code with a unique link so you can monitor your transaction progress and also serves as a reciept that you have completed the transaction from your own end.

what do you guys think about this?

A crypto exchange Without KYC. It is just a matter of time before you will start having issues with the government.

All other frauds that took place and could not be traced will be on your head since KYC is not allowed on your platform.

A crypto exchange Platform without KYC will attract alot of cash from money launderers, kidnappers, yahoo boys and other forms of dirty money.

KYC is a must for crypto exchane especially if the cash to be exchanged is huge.

You're just looking for problem with CBN, EFCC et al because that platform will only be used by criminals.
No one will give you license to operate a financial platform without implementing KYC.

It is good that you are thinking out of the box and you may already have the tech side figured out.
But when you're dealing with money matters, regulatory provisions must be strictly adhered to.

This does not mean you should give up on your idea, but go deeper to see how you can satisfy the law and then work around your value proposition.

Host78:
So i am at the beginning of starting this new projects and i am skeptical whether it'll work or if people will be willing to use my product.

It is actually a simple idea.

Nigeria is a large crypto country. My idea is to build a crypto exchanging platform. where you can convert crypto to naira and naira to crypto.

Some people are already running this space. people like monica, patricia and yellowcards to name a few of the big names.

But mine comes with a little twist. Crypto is an anonymous currency and my aim is to keep it that way.

Users can easily change their crypto to naira without needing to create an account on the platform. they can also buy crypto without creating an account.

I'll be like physical trade but this time it'll be completely online but all done without creating an account.

also you can choose to create an account and trade as usual but it wont be necessary.

Each new transaction will recieve a unique tracking code with a unique link so you can monitor your transaction progress and also serves as a reciept that you have completed the transaction from your own end.

what do you guys think about this?

Bro I don't see it working because of the CBN bottle neck, the best you can do is p2p