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RE: The Greens Steem Bank | A rapid exchange and banking service for Cameroonian steemians

in Steem Cameroon • 3 years ago

Interesting idea.

If you are exchanging at market rates how will you make profit?

You are presumably charging fees to enable you to make a profit - what are your fees?

Will you be encouraging people to buy STEEM as well?

The Steem economy needs people to buy STEEM not just sell it all the time.

Will you be publishing monthly accounts for full transparency?

PS You don't need to tag @steemcurator01 all the time we follow you.

3 years ago in Steem Cameroon by
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     3 years ago 

    Banks are meant to encourage people to save and advice them on better/profitable business opportunities as well as support their clients in times of need. The Greens' Steemit Bank has been created to encourage steemians to save and invest in Steem by encouragign Cameroonians to buy and keep steem, stop the powering down of accounts via the provision of Steem loans and assist Cameroonian steemians when they are in need via the Steem-CFAF exchange service.
    Answers to some of the issues you raised are;

    1. If we are exchanging at market rates, we will be able to make profits while giving the steemians valuable rewards for their steem. (A Discord chat can better be used to present the business model)
    2. We are charging less fees because we want to hold the Steem and also give the Steemian more rewards that can be used to attend to their financial need. Remember we are on the road to 50k SP and to do this, we need to buy enough steem. We are charging a maximum of $22 which is $6 less than regular fees for our withdrawal transactions with Steemians.
    3. We have been training Cameroonian steemians to learn to invest in Steem. To do this, they need simple and less complicated means to acquire steem. We are encouraging Cameroonian Steemians to purchase lots of steem and build their Steem power. Through the bank, Cameroonian Steemians can now purchase Steem directly with the local currency irrespective of its amount. We sell steem from $1 to any amount the buyer wants
    4. We will be publishing weekly accounts for full transparency so that Steemians can keep track of our steem investments/withdrawals.
    5. Some very pertinent issues we raised in our bank post are that we are here to advice Steemians on how they can better invest in Steem as well as provide them loans to reduce or stop SP power downs. We are still working on our loan interest rates and will notify once we are done.

    NB: Today @nackasnelson contacted us on how he can get more Steem and we will be serving him ASAP. #SteemInvestments

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