We're working on an update to Trade Guardian that will allow for two transaction types. Below I've outline both types, however we want to get the communities opinions on some of these changes.
On Dec 31st, 2016 (midnight) we will stop cashing out credits for payments. After that credits will only be used for the store or for option #2 below.
Option #1
Bitcoin only service - This option will not use credits anymore. The buyer will deposit bitcoin instead and once the item is delivered we will pay the seller (cashout) via Bitcoin or Paypal.
Pros
Trade Guardian has not been as popular as I had hoped. While many members are using it, we consider usage low. The system needs high volume to decrease payment risk and unfortunately this is not happening. It appears the 12% fee is just too much for most members and since there's no way we could lower the fee with Paypal as a payment option, the system will use bitcoin only.
Option #2
Trading currency - This option will allow members to use Trade Guardian using credits, but there would be no cashout for credits anymore. This would be strictly trading currency only.
Pros
This option will be disabled once the new update is made. We had this system enabled before cashouts became available and it had very low activity, so before we re-enabled this w're going to make a few other adjustments and changes to help spur usage.
If you have any suggestions or comments about these changes, please post here.
On Dec 31st, 2016 (midnight) we will stop cashing out credits for payments. After that credits will only be used for the store or for option #2 below.
Option #1
Bitcoin only service - This option will not use credits anymore. The buyer will deposit bitcoin instead and once the item is delivered we will pay the seller (cashout) via Bitcoin or Paypal.
Pros
- Fee dropped from 12% to 3%
- Cashouts can be same day, no 24 hr wait period
- Payment from buyers via Paypal will no longer be accepted
Trade Guardian has not been as popular as I had hoped. While many members are using it, we consider usage low. The system needs high volume to decrease payment risk and unfortunately this is not happening. It appears the 12% fee is just too much for most members and since there's no way we could lower the fee with Paypal as a payment option, the system will use bitcoin only.
Option #2
Trading currency - This option will allow members to use Trade Guardian using credits, but there would be no cashout for credits anymore. This would be strictly trading currency only.
Pros
- No fees
- Creates a safe way to trade.
- Not many people come here to trade, most are buyers/sellers.
This option will be disabled once the new update is made. We had this system enabled before cashouts became available and it had very low activity, so before we re-enabled this w're going to make a few other adjustments and changes to help spur usage.
If you have any suggestions or comments about these changes, please post here.
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