Peer to Peer (FIAT/Crypto - Crypto/Fiat) INCOGNITO MARKETPLACE...

Hi Rebels,
I would like to propose to the community and the devs my idea of implementing a peer to peer marketplace to exchange crypto to fiat and viceversa inside the incognito wallet.

The most easy way to do so is to make a place where people can contact each other inside the app or leaving a contact on the post and then meet in the real world.
Face to Face mostly, in public place.
I took the idea mostly from Mycelium Wallet (Actually a great place to unshield your BTC used with TOR).
myc1 myc2

Imagine now that we have a private network and we could make all the process from the cash to our dex without even leaving the app.

Example: I Want to buy 1 pBTC : I can post an ad on Sell and wait that someone contact me or I can answer to an ad that i feel comfortable with, speak with the person and then finalize the deal with a meeting in a public place. I would pay with the method that we agreed (bank,cash…) and finalize the deal. I would receive 1pBTC and the transaction will be anonymous.
The Seller is more protected because nobody can see how many BTC he holds in his wallet.
The Buyer could have as well benefit from that and he don’t have to use any other wallet or exchange, and if he used cash he could be anonymous all the way!

Another way could be through an escrow , but it will be much more hard to realize and use it and it will be not possible to use it with cash for example.

Crypto Credit Cards are also possible but it is much difficult for AML and other rules to use privacy-only blockchain. Some they have z-cash or dash but not in the private form so it is useless.

We are running towards a cashless society faster than we can imagine and i think that giving the possibily to make such trades would be a wounderful implementation.
Gift card are nice way also but they are expensive and with low limit (150usd).

This is the only way to make larger trade manteining anonimity.

Nevertheless I’m aware than there are Scammers but i tried myself and i met some nice people both for buy and sell.

And i want to add that i know few whales that everyday are asking me if i can find someone that want to buy BTC. I tried to show them also incognito actually.
If we make it i’m sure some of them will jump in it after understanding the project.

What you guys think about this? Nice idea? Will scammers be the problem? Anyone tried any other p2p exchange like mycelium? And for the devs @andrey How difficult can be to realize on incognito? Any idea to improve it?

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Hi @Katoshicoins, that is an interesting idea. However, a face to face meeting does not guarantee privacy, in fact I think it puts your privacy at risk. Personally, I think it would be better for privacy sake to have it all done on the Incognito network. People could list their buy/sell prices and if someone matches the request, then Incognito could make sure that both parties have the necessary collateral and execute a swap for them while taking a small cut.

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I don’t agree face to face meeting guarantee privacy because:
1- you don’t give your id card
2- you can pay with cash
3- you can send another person to the appointment

When you pay with banks also if there is an escrows you give your data no way to avoid that ( only way is using someone else bank account)