[ANN] BlockTrades is now buying/selling Monero

in blocktrades •  5 months ago

As a few enterprising users noticed yesterday in our "pre-flight" check, BlockTrades has been working for the past few weeks on adding support for Monero, a well-known privacy coin. Monero was a reasonably challenging coin to support, because like a number of innovative coins (e.g. Steem) it has it's own unique communication protocol that isn't a simple copy of the bitcoin RPC protocol.

Today I am happy to announce that you can now buy and sell Monero on our site. Of particular interest to Steemians, we offer both Steem and SBD trading pairs for buying and selling Monero, in addition to many other Monero trading pairs.

What coins do you plan to add next?

We don't have immediate plans to add any specific new coins. We are extremely choosy about the coins we support, in part because we usually plan to hold a significant quantity of each coin to handle large purchase orders from customers. We also have to make sure we have reliable pricing sources for the coin, and this is generally more difficult to obtain for newly released coins.

Another important criterion is that we currently don't list any coins that we are concerned might potentially be classed by the US securities commission as a security, because some of our customers are located in the US. In the future, we are considering offering additional coins to non-US customers who are willing to provide proof of foreign residence.

As a very informal poll, if you are a non-US citizen/resident, please feel free to leave a comment if you would/would not be willing to provide proof of foreign residence in exchange for the ability to trade additional coin types on our site.

What else are we working on?

For the past month or so we've been working on a web-based system for filing support requests, which I hope we'll be releasing next month. Also, for the past couple of weeks we've been working on an "affiliates" feature that will allow web site operators to easily embed our quick-trade service directly into their site. Stay tuned for more details!

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You've certainly been busy!

As a very informal poll, if you are a non-US citizen/resident, please feel free to leave a comment if you would/would not be willing to provide proof of foreign residence in exchange for the ability to trade additional coin types on our site.

I'd be up for that. UK born, living in England - passport and driver's licence.

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Thanks for feedback, Michelle :-)

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Why does Blocktrades take a lot of time to update current SBD/Steem price? It really hurts when the price is rised and wanted to withdraw.

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We re-price very rapidly: within a couple of minutes at the max. But some customers have experienced confusion about bad pricing data provided by coinmarketcap.com related to SBD recently, and I would guess this is what led you to think our pricing wasn't being updated regularly. Here's an article that discusses the bad pricing on coinmarketcap (they were finally contacted and fixed their price problem):
https://steemit.com/sbd/@themarkymark/sbd-is-not-mooning

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You're right, and I also wrote an article about it just a few hours ago. Thanks for support.

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@blocktrades I sent you half a dollar yesterday by mistake as a new user:, (

Monero is a good one to support. As these privacy coins get pushed away, I hope they gain more and more third party support to offset the negative push by the governments. I will now be accumulating some Monero via SBD rewards. Thanks for all you do and I look forward to the ability to embed the quick trade service. Could busy incorporate this or Steemit if they wanted?

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Yes, once the affiliate widget is ready, it should be very easy for any web site to incorporate it.

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Thanks for providing an awesome service! It's truly changing how people can exchange value in an easy way.

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That's cool you can trade on @blocktrades. I have little to trade right now but that's good to know. It get tiresome to find out what kind of wallets work and then your keys need to be secure etc...

In the last weeks many exchanges tried to get a banking licence or similiar and so they abondon privacy coins like XMR.
So its really nice to see that you care about privacy and implemented monero, I also think that you are the only one with Poloniex to offer a SBD/XMR trading pair on the market.

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Good to know that last bit, ty.

hi @blocktrades, what about the possibility to pass an array for multiple output account?
cheers

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You mean with a separate percentage of the output sent to each address? It's possible, of course, but it would increase the complexity of the user interface unless we were very careful about it.

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How about an advanced mode for that? A button at the very bottom to switch between advanced mode and simple mode. Most users can use the simple mode, but power users can use advanced mode.

I'm in Canada, I'd probably be OK providing proof of residence - if Canada doesn't end up adopting those same rules anyway lol

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Will be problematic to try to keep track of people now with the Internet. Man wants to chase down humans... Clearly Man is failing.

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From things I'm reading, I wouldn't be surprised if Canada goes the same way as US also.

I mean yeah... you guys are doing great. Always makes me wonder if we will ever see you guys offer direct bank transfers, in and out of the blockchain.
Any side projects maybe you are working on at the moment? :)

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We're working on direct bank transfers now, but it will take some time: there's both software and regulatory challenges to deal with.

We have a lot of side projects going on, but when they are our internal projects we usually stay quiet about them till they are nearly done, and if they are done for an external customer we generally leave public disclosure up to them, of course.

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You do know what that would mean, right? Wow. I mean the whole Steem blockchain would have a smile from one ear to another. Ned would probably hug each and every one of you. That will be a huuuge day for Steem when it happens.
The easiest to access cryptocurrency for the general public with an easy way of fund transferring on and off the blockchain..
The implications of that are amazing... Anyways keep up the good work.

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I'm very excited now. Can't wait for the future.

Awesome @blocktrades

XMR Monero is a SOLID ADDITION for us Steemians to choose swapping/trading between STEEM/SBD/BTC/ETH/LTC/DASH/DOGE/BCH

Thank You!

Edit: I just noticed no DASH to XMR or XMR to DASH drop downs?

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I'll add it today, thx for pointing that out.

XMR is great but i wish u also had smaller anon coins - EXCL, ZCL etc

Quick trade within the paltform , exactly what we needed . Time to start building up

One of the good exchanger @blocktrades. It's easy and efficient and most of all it is partnered with my beloved blockchain #Steem. So far I have no bad experience using this exchanger and now #monero is now part of the family. Great works @blocktrades

This is great news. I love blocktrades

Nice to see Monero show up especially now that it has dropped a ton from its high . Would you be able to elaborate as to what the trading commission is . I was playing with the numbers and it seemed like different coins had different commissions. Am I correct or not? Also I noticed to trade 1 bitcoin to Steem is like 2500 to 1 when I try to do it backwards it change to 2800 Steem to 1 but coin that’s like a 900.00 commission . Is that standard ? Look forward to your reply as I have been dealing with you for 2 years . Can’t believe it has gone that fast!

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The formula for the rates we offer is fairly complex: it's dependent not only on current prices but also liquidity volumes available along the buying paths open to us for replacing the coins we're selling, our available inventory, and even our long term view of the coin's potential.

To clarify the implications of the above description, if you want to buy or sell a lot of a coin (a lot here being defined as more than what's available around the immediate spread price on exchanges that offer the coins in question), then you'll likely pay more (because we will have to pay more if/when we replenish the coin we've sold). This also protects us from using a fake "low-liquidity" price that someone might try to spoof on one of our pricing sources. So if you got estimates for the same transactions as those you did above, but sending a smaller amount, you might get a better percentage price (on the other hand, it could be worse if you go too small, see next paragraph about transaction fees). One way to get a better rate from us is to place larger orders when the overall market is "hot" and has a lot of liquidity available (but high liquidity is often associated with price volatility, so that's the counterpoint to that view).

Another factor that comes into play is the transaction fee for sending the coin (we pass this cost on to the buyer). But this mostly has impacts on smaller transactions and is very coin-dependent. For example, if you bought $1 worth of btc, you might be paying more for us to send it than you would be receiving because of the cost for us to send it to you.

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I think it is a good presentation, maybe I can get the application!!?

This is great news

That's very cool and all, but is it so complex to add new coins on the platform? Why make a news over adding one when you could add a whole bunch of those?

good news thanks

Fixed now, thanks

Blocktrades will always be number one 😎😎

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Yes so good.

Please consider adding EOS, BAT, IOTA, XLM

Great news for us ..Really BlockTrades is the awesome platform to provide best exchange rates to customers..

Blocktrades could become something big in future,if they reduce fees to reasonable amount. :)

Great news! Can’t wait to use it!

awesome work sir 😇😇

Good news thanks blocktrade.

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Guys. Your account sent me 440 SP in delegation. I did not buy that. Did someone else buy it for me?
Not sure whats happening.

Thanks for help

Nice friend

Will blocktrades develop like an exchange?

I am from Indonesia, currently CEO of Indodax Exchange with his team from Singapore has made a local coin named Tokenomi, is it possible to be added into the blocktrades?

Monero was always one of my favourites of the more expensive coins, haven't gotten any myself yet but do want some. Great pickup!
Note: Yes I made this meme :P

canyomonero.jpg

wow new addition great, though monero is something new to learn but good that @blocktrades added new crypocurrency 👏👌👏👏👍👍👍

Monero good sound its nice information for steemians should be buy if you are saying you know better the way its worth in future it have unique protocol than ok great work keep it up

Can Bitcoin Private compete with Monero? any opinions out there?

Wow awesome this is great news

Thank you for that good news

Wow, way to save the best for last! Embedding quick trade services would be hella useful! Keep up the good work!

hi there!!!
with all market at this prices i think it is a good time to buy.
good luck!!!!
have a great day!!!

Took a while, but I'm glad to see Monero added finally. Blocktrades is a great exchange platform.

Sorry for going off topic here, but is there any way to contact you?

I do understand that you might be contacted by dozens of upvote beggars and whatever, but this is not like that. This is regarding a potential delegation, and I'd be glad to hear your thoughts about it.

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Due to accounting and tax issues, I'm trying to stay out of the business of manual delegations in favor of our automated system for selling delegations. Upvoting is my preferred method for rewarding projects and endeavors I think are important to promote.

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I see. Well, it never hurts to ask. Thank you very much for your reply!

Yes,,,, well said,, BlockTrades is the great platform for the exchange rates and this time BlockTrades providing us highest rate.
Thanks for your informative post.
Great to share
Upvoted

Hello friend, excellent publication, I liked it a lot. Count on me, I invite you to visit my profile and count on you too, Regards

Thank You Blocktrades for being of Service since I have been on STEEMIT. I do Appreciate it.

the announcements are very exciting, I like that

Wow ya hacia falta que esta noticia llegara, increíble proyecto debieron hacerlo mucho antes, gracias por la informacion :D

What a great news every coin added to there is make the crypto markt more accessible for more and more users keep up

Keep it up @blocktrades, keep the flag flying

Very great achievement @blocktrades. I would like to see PIVX, NEO, IOTA trading pairs lets go for the good quality stuff ;-)

This is a brilliant idea i knew this will help a lot of the steemians. Thank you for sharing this @blocktrades. God bless

Yes..... i love BlockTrades . Because the BlockTrades offering us big rates for currency. That's way , we are going to profitable.

"BlockTrades is now hot cake."

This is great news. I love blocktrades.

It's really good news for us...Thank you so much

Just when I think I cannot love this platform anymore you surprise me with this news! I cannot wait to buy monero!

YESSSSSSSSSSSSSS!!!!! This is the best news ever!!!! Ima shout it out on the rooftops!!!!!!! I love you @blocktrades!!!!!

Hi @blocktrades!

Your post was just upvoted by @utopian-io.
We are happy to see Blocktrades developing features with such impact on the Open Source Steem blockchain. It is our hope that you will choose to release Blocktrades code as opensource in the future, and will be glad to support you in such a move.

Contributing on Utopian

Learn how to contribute on our website.

Want to chat? Join us on Discord https://discord.gg/h52nFrV

That is great new! XMR is the most legit privacy coin.

Fantastic! It makes the Steem ecosystem much more useful

this is good news...

Thank you sir this is very important to me. For a new user here I never been trade before thank you sir

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvote this reply.

I'm not familiar with monero, but I use your services all the time, and I just want to say that your exchange site is appreciated and very easy to use. :)

Thanks for sharing. I've smashed the upvote button for you and i will look into Blocktrades.

Also, if you are looking to get some tokens without investing or mining check out Crowdholding (https://www.crowdholding.com). They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.

Good apps ever

Good news for us. Since we have you as our default trading platform. Keep updating

Congratulations @blocktrades!
Your post was mentioned in the Steemit Hit Parade in the following category:

  • Pending payout - Ranked 3 with $ 604,59

@blocktrades, you're really making things easier for us traders! Good going!!

About providing proof of residence, I already did that on some exchanges. It's not an issue at all.

That's a good news! Best decision. Montero is such a good coin and have got a bright future, all things being equal.

@eurogee of @euronation community

this is a good platform for steemit @blocktrades

I think this post is very interesting and i like it.

Good news,
When monero is present in blocktrades. Then the opportunity for investment is getting wide open.
Hopefully one day, we can buy all goods by using coin with the help of application blocktrades.
Thank you very much @blocktrades

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Yes it will happen. Since people want an easy way to exchange value. In this day an Age: Speed is King. 🚄

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Yeah, hope that's happening quickly, and we can enjoy that convenience.

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Anyone that looks closely at the current exchanges can see that it's a retarded overly complicated system. But at least it's a step forward compared to the complicated system Banks use for simple transactions. In this day and age every second we can save matters. We want a life that is frictionless and that flows much better. Clearly Blocktrades has helped lots with that. Since many of us value speed over minor fees.

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You are right,
Thank you, your actions are amazing, it's bigger than upvote, because upvote forced us to wait 7 days, and within 7 days the price always change.

I am really glad to see that marketplaces specialised for steem are in such great demand. Therefore, it is exactly the right step to expand the support for the customers, not only through the implementation of web-based request masks, but also with the protection of the privacy through the integration of Monero tradingpairs. Keep the great work up, sir!

Well exchange system amd high secure.

Hello friend, excellent publication, I liked it a lot. Count on me, I invite you to visit my profile and count on you too, Regards

this kind of applications is great, they make everything safer and easier, you are the best

Monero is a good one to support. As these privacy coins get pushed away, I hope they gain more and more third party support to offset the negative push by the governments. I will now be accumulating some Monero via SBD rewards. Thanks for all you do and I look forward to the ability to embed the quick trade service. Could busy incorporate this or Steemit if they wanted?

wow, I loved your article .. A pleasure, I'm new on this platform and your article is one of the first I see and it's so good, I invite you to visit my profile, there I introduce myself.

is a good one to support. Because this privacy coin is getting away, Thanks for everything you do my brother @blocktrades

I sent a bit of sbd and redeemed it to btc via blocktrades, but to date I have not received the btc number I rededed, this is my btc address 1C42zoifBmFZ9AzfBN7omrob6pWC4A59EY
hopefully I get an explanation immediately.

Well done! Never thought I would see the day.

There is now an easy way for steemit users to regain financial privacy by converting their SBD/STEEM to what is essentially the only fungible cryptocurrency.

This is a much bigger deal than most people realize, unfortunately it might take until people start getting investigated after receiving tainted BTC/insertnonfungiblecryptohere from some shady character and then trying to cash out at a centralized exchange, to viscerally understand why a public blockchain is a really bad idea.

Well, all that aside, a practical question: Are you supporting sub-addresses that were officially introduced with v0.12 ? They begin with 8 instead of 4.

If not, may I recommend focusing attention on adding them, as this further protects the users' privacy by allowing the user to generate a new sub-address for each conversion through blocktrades.

The sub-addresses cannot be linked together at the blockchain level, so I'm sure the advantage to this is very clear.

This development is somewhat bittersweet to me as I've cashed out of STEEM/SBD due to reasons not worth going into here, so there is no practical use left for me personally, but I still felt the need to login and congratulate @blocktrades on adding XMR, this is a step in the right direction. It absolutely is.

We need to take our privacy back, because no one else will do it for us.

So thank you for making that possible for thousands and thousands of steem users.

Really.

Will try this soon ;)
image.png

Blocktrades and Steem will grow together. Live that their coin selection is expanding.

you gotta add tron bro!

nice post good job

Sent some SBD. How long does it take ? can you confirm if a particular address has received the SBD ?

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I think the address was wrong. Will it come back to my wallet ?

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Can it be reversed. I was scammed into sendfng it to that address :'(

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No, unfortunately there's no way to reverse a DASH transaction.

10% transaction fee is way too expensive why do you charge such high fees ?

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I'm going to take a wild guess and bet your transaction was sending in SBD to buy something else.

Currently SBD is overvalued by coinmarketcap (which our site uses as a benchmark to report the input usd value to help users for tax purposes), because it shows the value based on the highest liquidity exchange which is the Korean exchange Upbit, and coinmarketcap uses the SBD/KRW price to determine it's dollar value. For example, right now it's estimating SBD as worth $1.84, whereas it's only $1.77 on Bittrex, which is a more reasonable price source.

Why is the KRW price not reasonable? Because trading on Korean exchanges is mostly limited to Koreans, and there are capital controls in place in Korea that make it difficult to move the money out of Korea. In fact, this is why prices for BTC, Steem, and other crypto is higher in Korea: it's one way to move KRW out of Korea.

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I'm going to take a wild guess and bet your transaction was sending in SBD to buy something else.

Currently SBD is overvalued by coinmarketcap (which our site uses as a benchmark to report the input usd value to help users for tax purposes), because it shows the value based on the highest liquidity exchange which is the Korean exchange Upbit, and coinmarketcap uses the SBD/KRW price to determine it's dollar value. For example, right now it's estimating SBD as worth $1.84, whereas it's only $1.77 on Bittrex, which is a more reasonable price source.

Why is the KRW price not reasonable? Because trading on Korean exchanges is mostly limited to Koreans, and there are capital controls in place in Korea that make it difficult to move the money out of Korea. In fact, this is why prices for BTC, Steem, and other crypto is higher in Korea: it's one way to move KRW out of Korea.

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Wow this is actually a very honest and nice respond, thank you for your feedback here. really appreciate it

Good post. Thank you very much.

I have sold you about 4.6 Steem in two different days. Each time I requested to get bitcoin cash back. Neither of those transfers worked, and I did not even get my money back. I know that 4.6 Steem is not a lot for all of you big crypto players, but Im a 12 year old kid. 4.6 Steem is about 9 dollars. That a lot for me. I swear Im not lying. Please I would be so greatful if you give me my money back.

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Bitcoin cash for your last two transactions were sent here: bitcoincash:qzss0m3dnap92gydad3j6y4ccsfe33fgmc0tnxdmre

You can see we sent them on this block explorer report:
https://bitcoincash.blockexplorer.com/address/bitcoincash:qzss0m3dnap92gydad3j6y4ccsfe33fgmc0tnxdmre

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thank you for that

I just had an error sending a small amount of SBD for Monero. There is no output hash and it has been 30 minutes so I should have at least something showing as pending in my wallet. Would you please look into this issue?

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Just to update. It just went through. Thank you!

Hi sir, 23.05.2018 i send you 1.00 sbd for convert to bitcoin. But i didn't get my bitcoin.. so please check it and back my sbd

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Please send a report to support@blocktrades.us, they can investigate your transaction.

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Is this email still working? 184 steem -> eth transfer failed... I've just sent a help request.

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Yes, it's still working. Our eth wallet was under maintenance for several hours last night and this morning.

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No wonder there was a little delay when i wanted to buy steem with Ethereum. Your services has always been wonderful. Keep up the good work. I'm really enjoying your services. Well done.

It is very good to launch the service

So we need to adapted digital currency asap ?

A question ... I hope someone might be around to answer. I live in Canada and must buy crypto (BTC, LTC, and ETH)through ATM. Do I have to go through and exchange to then buy steem or can I deposit say BTC directly to my steem wallet here and you will convert it.

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That's what BlockTrades does: you send BTC, LTC, ETH to us and we send you Steem (or other crypto). Our service is commonly referred to as an "instant exchange". You can visit our site at: https://blocktrades.us

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bnos dias, como cambiar SBD a Bolivares, SI SABES TE AGRADEZCO

I really hope that one day we could convert it to local Fiat too. We have to accept the fact that global digitalization will take forever to happen

I'm in Indonesia, I'd probably be OK providing proof of residence - if Indonesia doesn't end up adopting those same rules anyway lol

Excellent work, the truth is that all this cryptocurrency has me very motivated, every day I'm learning a bit of all this. . I think here is the future ..

@blocktrades please help me my transaction from SBD to ETH has been pending for 6 hours

What does the memo with the key mean that I just received?

i sent you 1.50 sbd to you yesterday .. but still not receive bitcoin to my coinbase account. whats the problem?

Good! Good thing you consider having Monera since it kinda hot in the market. Good move @blocktrades! This is why I love your service :)