Jose Garay1 Neat approach and probably a good step contributing to enlarge cryptocurrency adoption!
Talip Ozturk0 @joselfgaray Thanks!
Ethan4 Great Product! Was wondering how fast is the conversion? Like Changelly takes quite some time (sometimes hours) compared to shapeshift. How speedy would you say Evercoin conversion is compared to both? (without considering the confirmation times for coins) Also is the rate fixed when we click the "Exchange" button or can it change while the coins are being confirmed on blockchain?
Talip Ozturk4 @0xethan exchange is done entirely through blockchains. So the speed depends on the confirmation speeds of the blockchain. BTC takes about 10 minutes to confirm a transaction. ETH/ETC will take around 7 seconds, XRP is about 3 seconds.
Talip Ozturk3 @0xethan if you send the exact deposit amount in 10 minutes, even if it takes 30 minutes to confirm, you get the exact promised amount. If we receive a different amount than the deposit, we do recalculate when confirmed.
Nick Abouzeid6 Hi Talip! Cool product. What key differentiators are there between Evercoin and Shapeshift? Are you using the Shapeshift API on the backend to manage the conversion?
Talip Ozturk2 @nickabouzeid Hi Nick. We don't use any third party API or tool for the conversion. All in-house. In addition to improving the user experience, we will closely work with new coin and tokens with custom needs or not heavily traded on the market. Here is an example: https://evercoin.com/zencash
Nick Abouzeid1 @oztalip Cool! More competitors are always good. Appreciate your response & your different emphasis 🤗
Mike Ritchie2 @nickabouzeid @oztalip What exactly is improved about the experience?
Miko Matsumura0 @nickabouzeid @oztalip @mike_seekwell we give custody to the users and provide a mobile first multicoin wallet with integrated exchange experience
Comic-CONnor1 Super clean UI! Any plans for a tethered crypto like USDT? Also, any plans for a API?
Talip Ozturk0 @connorgutman thanks!! API? absolutely! it will be ready soon. Fiat currency? absolutely not. USDT? maybe, didn't think as much.
Comic-CONnor0 @oztalip My biggest complaint about services like Shapeshift and Blocktrades is that there's no tethered option to exchange crypto into. I think I speak for a lot of people when suggesting that (once the API is released of course) you'd gain support and business by accepting USDT/BitShares/Some other tethered non-fiat currency. Think of the bots! 🤖
Miko Matsumura0 @connorgutman we are looking into adding a stable coin soon, possibly USDC
Marlon Parker0 Nice. 👍
Tarun Gangwani0 1) Is Evercoin based off the DNT platform, or something custom? 2) How are you going to make money if no fees?
Tarun Gangwani2 BTW I tried this with a trading pair across a paper wallet and an exchange and it worked within a minute and executed flawlessly. Experience was similar to shapeshift but no mining fees is pretty awesome.
Talip Ozturk0 @tarungangwani happy to hear that we had positive experience. That is the only way we can gain your trust.
Talip Ozturk0 @tarungangwani What is DNT? Evercoin is entirely custom, we don't use any third party exchange. In the price we give, all fees (our fee and miner/network fees) are all baked in. The price we give is exactly what you will receive in your wallet. No surprises.
Tarun Gangwani0 @oztalip The District Network people were talking about enabling other exchanges; figured this may have been one of them. Ah -- so people still pay network/miner fees but they don't see that? It would at least be useful to see that in a tooltip or something where people can get a transparent idea of what is going on...
Talip Ozturk0 @tarungangwani FAQ is updated to make it clear. We will work on the tooltip or something similar to make it transparent. Thanks for the feedback.
Luke Hamilton0 Awesome! Good stuff. What else is on the road map? Which coins will be supported next?
Talip Ozturk0 @lukemhamilton Thanks Luke. We plan to add more coins/tokens like Monero, Augur, Civic as requested by our users. We also plan to pick and choose the ICO tokens we like or/and less known coins with high potential and create exchange pages specifically for them.. such as https://evercoin.com/zencash
Gordon Tindall1 Hey Talip, so there are no fees, but it looks like you may be selling coins at below market rate and taking the difference. Essentially arbitrage. What exchange are you basing the transactions (and price) off of? How are you deciding which coins to add?
Talip Ozturk3 @_gordee we don't mean there is no fee. Fees are all backed into the price there is no fee that can change your receive amount. You will receive exactly the amount we promise. No surprise. We changed the wording in our FAQ to make it clear. We don't use an external exchange for the transactions. It is all in-house but for the pricing 3 external price feeds are used. Plus our risk calculation algorithm. Coins with high market capitalization and high trade volumes are added first then we listen to our users.
Ram Rayavarapu1 Right on time, Elegant UI. Congrats! I have been looking to bet on Cryptos. All GURUs here, which currency should the current investors look into?
Talip Ozturk0 @ram_rayavarapu thanks Ram. I am very good at product design but not as much at crypto investment but I like the usual suspects plus Ripple, Civic and Filecoin.
Ram Rayavarapu0 @oztalip Thanks for that info.
Ouriel Ohayon0 How competitive are your rates compared to ShapeShift? Or even Coinbase?
Talip Ozturk1 @ourielohayon Coinbase is super expensive and limited to exchanging ETH, BTC and LTC. Our rates are quite competitive and easy to compare. We think that the support is as important as the rate. So we offer live anonymous chat during your exchange so that we can answer questions or react quickly when needed.
Halil Akın3 I have been using them a lot recently, they always offer the best prices compared with Shapeshift.io and Changelly. Haven't had a single issue so far.
Miko Matsumura0 @halil_akin thank you
Bruno Skvorc2 Your conversion rate spreads are bit out of whack, especially considering there are more trusted, established exchanges (Bittrex) out there - even decentralized ones (Etherdelta) - which deal in esoteric alt coins as well. What exactly sets you apart?
Miko Matsumura0 @bitfalls we give custody to the user, which is a pretty big deal. Also we are a mobile first product.
Crypto King1 Not sure if this was answered, but what is the conversion cost? Do you take at market rate plus fee or below market for the exchange and get the difference?
Raúl López1 I like how easy is but for me you aren't transparent about fees. In your FAQ you say: "All fees (our fee and miner/blockchain fee) are all baked into our pricing..." Please, could you tell the % you get? Thank you
Miko Matsumura0 the reviews on IOS and Android are enthusiastic, generally because of the honestly, transparency and diligence of the support.
Rodrigo Hillion1 <p>Really good. Just used it to exchange ETH for XRP and worked like a charm</p> Pros: <p>Good and intuitive</p> Cons: <p>Not so far</p>
Miko Matsumura0 <p>good support experience</p> Pros: <p>user gains custody</p> Cons: <p>none so far</p>