Problems & Motivations

Satoshi would wake from his grave, if aware of how people are acquiring Bitcoins on Central Exchanges.
  • Centralized Exchanges (CEX) requests lots of private documents, from IDs to proofs of income.
  • Those who buy cryptocurrency on Exchanges are never anonymous.
    • It is unclear how Exchanges use their client's personal & private data.
    • Mostly wallets and posterior transfers can be tracked by Exchanges and odd legislators.
  • CEXs like MercadoBitcoin in Brazil have millions of clients and very expensive trade taxes.
    • They follow heavy regulations, and traders might become marked as crypto-owners by our IRS.
    • Their founders became billionaires but no Fund is shared among its users or communities.
  • Most centralized platforms connecting sellers & buyers are full of scams and fraudsters.
    • On personal experiences, our team lost more than 2k on localbitcoin and other online groups.
      • "Someone used a hacked Paypal account to buy my crypto and had their money back in 48h"
  • Cryptocurrencies on some "p2p" platforms in Brazil can be up to 35% more expensive than on CEX.
  • We are part of an online group providing a "relatively reliable" friend-of-friends network of traders.
    • Most F-of-F solutions request a day-before BRL deposit and a later conversion and transfer.
    • Less bad, but it also doesn't give any guarantees of anonymity or protects the person behind it.
    • It also has a very limited number of possible crypto/tokens to acquire.
  • On November 2020 the Brazilian Central Bank released a new payment system called PIX.
    • This experimental system (we read the papers) enables transfers in seconds over Qr-code.
    • Surprisingly, it implements the new privacy LGPD law, presenting the depositor's name only.
  • It is time to build a Solution!