What is BDExchange?
It is a Discord bot present in STEEM.com.bd and Steemit Bangladesh Discord server. You can exchange your SBD or STEEM with a peer safely using this bot. This bot uses STEEM Blockchain to keep your funds safe using blockchain’s escrow functions. You can use the bot in STEEM.com.bd and Steemit Bangladesh Discord servers only.
How does it work?
First, the seller will deposit his SBD or STEEM to the blockchain, buyer and agent will approve the transaction. After than buyer will send money to the seller and after confirming the transaction seller will release deposited funds from STEEM Blockchain to the buyer. So, the buyer gets his/her SBD or STEEM, the seller gets real money. Transaction completed!
In case of any misunderstanding between seller and buyer, an agent can step in to resolve the issues. Funds are always safe with this system as nobody gets the SBD/STEEM until the transaction is completed.
Seller: A seller is a Discord user who also has a STEEM account and will be sending the SBD/STEEM for some other asset including fiat money.
Buyer: A buyer is also a Discord and STEEM user who will send the fiat money to the seller to get SBD/STEEM.
Agent: The bot it the agent and controls a STEEM account which will act as agent in the transaction.
BDX User: Any member of a Discord server who will link their STEEM account with Discord account will have this role. This is necessary to initiate a transaction using the bot.
Dispute Handler: This is a Discord server role who have to ability to release funds from blockchain in case of a dispute between buyer and seller.
..register [STEEM USERNAME]
As the name says, it is used to link your STEEM account to your Discord account. When you use this command for the first time, the bot will ask you to send 0.001 SBD to the agent account with the memo generated for you. If you are already registered in another Discord server, use this command to get BDX User role and use the bot from the new server.
..verify [STEEM USERNAME]
After transferring 0.001 SBD with the memo, wait a few seconds and use this command to verify your STEEM account. If verification is successful you will get BDX User role and can now interact with the bot.
..exchange [AMOUNT] [CURRENCY] [DISCORD MEMBER]
First, a seller needs to initiate and deposit SBD/STEEM into the blockchain using this command. Both seller and buyer will receive a DM from the Bot with a preview of that transaction and a link to initiate and approve the transaction respectively. After approval by the buyer, the bot will auto approve as an agent.
..status [ESCROW ID]
This command is used to check the current status of the escrow transaction in the blockchain. Buyer should use this command and check the transaction preview carefully before approving the transaction. It can be used anytime after initiation and before completion of the transaction.
..release [ESCROW ID]
It is used mainly to release the funds from the blockchain to the buyer when seller received the money from the buyer. Both seller and buyer can use this command to release the fund to the opposite party. The bot will notify who you are releasing funds to. This also completes the transaction.
..dispute [ESCROW ID]
If anything goes wrong, both seller and buyer can use this to dispute the transaction. After the dispute, and Dispute Handler for that server will come and decide who will be getting the escrowed fund from blockchain.
..price [AMOUNT] [CURRENCY]
Anybody can use this command to check current prices of any amount of SBD, STEEM, or BTC in USD and BDT. This command is handy in deciding how much a seller ask for or a buyer pay for his SBD/STEEM.
..balance [STEEM USERNAME]
This command outputs how much SBD and STEEM a user has right now.
There is a 1% agency fee charged to meet server and maintenance costs. Seller will pay this fee and STEEM blockchain will charge this automatically when agent approves. Server owners or any managers won’t charge any fees.
Declaimer: This an exhibition of technology and blockchain. Bot owner, developer, Discord server owners, and managers cannot be held responsible for misuse of this bot. Individual users are responsible for their actions. All transactional data are saved in the STEEM blockchain and can be accessed by anyone.