Peercoin.net: Exchanges

Here’s the new Exchanges page:

https://docs.google.com/document/d/1Lc4ZRJL8G8i7XYQvVs2d8Uj6N9RHfJAxhDAezCNDX7Y

Questions:

[ul][li]Add BTER, which appears to be missing?[/li]
[li]Remove CoinMarket, which seems inactive?[/li]
[li]Any other recommended changes?[/li][/ul]

https://coinomat.com/
Vietnamese exchange


Danish exchange

There are two thread (stickies) which contain exchanges. There is also a list of exchanges we used to notify them when we upgraded the client from v0.3 to v0.4. There are about 25-30 PPC exchanges. Not sure on what bases list you have was made, seems to be random.

I suggest you use those lists to assemble a complete list.

It came from our current website: http://peercoin.net/resources#buying I guess we need an update pretty badly! ::slight_smile:

Thanks, I see them. I’m not sure if we want to include almost-no-volume exchanges with the others. I think I’ll make a short “recommended” category at the top, containing BTC-e, Vircurex, BTER, and Vault of Satoshi. Thoughts?

Also, should any of these not be included?

[quote=“FuzzyBear, post:1, topic:79”]DISCLAIMER*** This is just a list I have compiled and update, of exchanges that accept Peercoin and can be traded one way or another. I have traded personally on BTC-e and vircurex but no other. Also No exchange have I deposited cash into.

Vircurex - https://vircurex.com/welcome/index?referral_id=45-2213 - Trade PPC for USD, EUR, BTC, LTC, TRC, DVC, NMC, IXC, FC
Vircurex: Minimum 0,1 (?) PPC - Withdrawal fee 2 PPC (?) - Deposit methods: Currently only BTC

BTC-E - https://btc-e.com - Trade PPC for USD, EUR, BTC, LTC, TRC, NMC, FC
BTC-E: Minimum 0,1 PPC - Withdrawal Fee 0,1 PPC - Deposit methods Perfect Money, Interkassa, OKPAY (until now), SEPA (only large amounts)

Bittylicious - https://bittylicious.com/coin/PPC Buy Peercoins direct with your UK bank account, or become a Peercoin seller.

BTER Exchange - http://bter.com/trade/ppc_btc
BTER: I think withdrawal fee was 0,01 PPC, could have been 0,1 PPC though. Deposit methods only BTC and CNY via a Chinese payment provider unknown

Cryptonit - http://cryptonit.net/

Cryptsy - https://www.cryptsy.com/

Coins-e - http://www.coins-e.com/

Crypto-Trade - https://crypto-trade.com/trade/ppc_btc
Crypto-Trade: Minimum 0,1 PPC - Withdrawal fee 0.01 PPC - Deposit methods OKPay, Perfect Money

MCXNOW - https://mcxnow.com/

CoinMkt - https://coinmkt.com - deposits can be made with Dwolla, International Wire (minimum 500 USD) and Money Order. Definitely looks interesting, as it claims to be KYC/AML compliant.

Vault Of Satoshi- https://www.vaultofsatoshi.com/ USD/PPC pair, very fast confirmation times on bank deposits, lot of good feedback from here

BTC8 (China)- http://btc38.com - PPC/CNY. Good market importance, decent volume

C-Cex - https://c-cex.com/[/quote]

TheWildHorse, I’ve edited the text from the staging site, replacing my old content entirely. Use the link in the opening post to access it. Let me know if you have any questions.

As always, open to feedback.

Thanks!

The requested changes will be done in revision V2.0. When the revision batch is complete it will be posted as a new topic in this subforum.
ETA: +4 hours after this post

Chronos:

TWH did a poll among us a month or so ago, which produced this list and comments:

That should help guide you. I support the inclusion of Cryptsy, but not Vircurex (because of its insolvency issues)

I don’t agree with a “recommended” section. We recommend exchanges by simple virtue of the fact that they are listed on our website. If we think an exchange is fraudulent or insolvent, then it does not go on. Beyond that, I don’t think we should be recommending one exchange over another

With regards to the list of exchanges as it will appear on the website, I suggest the following factual details for each one:

Name
URL link
Date of launch
Country based

I don’t agree with adding comments such as “good security” or “light volume” or “easy to use”, etc. Although intended to be helpful, such comments are highly subjective, cast judgement on exchanges which do not have such comments, and will become out of date as and when circumstances change

Exchanges have their own FAQ questions: it is their responsiblity to describe themselves, and the responsiblity of visitors to do their own shopping

I therefore suggest that the purpose of our page on exchanges be limited to (a) explaining exchanges, and (b) providing a list of exchanges that are reliable (i.e. not fraudulent, and not insolvent)

Edit
You could provide a paragraph saying that, if visitors want an opinion on an exchange, they are free to ask in the Forum, where people can offer their comments and experiences, etc.

Another edit
Although I don’t think we should be formally recommending one exchange over another, that does not mean that we cannot list them in order of prominence. It is reasonable to put large exchanges at the top of the list, and tiny exchanges at the bottom

I think there are a lot of insolvent exchanges out there. We just don’t know. Vircurex is at least open about it. I just checked and see that PPC is having relatively good volume (over 11BTC) on it. Vircurex has been around for a long time. It means something in the crypto-exchange crowd. I am for listing Vircurex but mentioning the insolvency issue. I’d rather see the referral code removed in the url, by the way.

A good place to start checking which exchanges are active are http://www.cryptocoincharts.info/#jump-ppc-btc and http://www.cryptocoincharts.info/#jump-ppc-usd

Actually I think if we don’t have the resource to maintain the list, we could just refer to pages like above and suggest the reader to select exchanges with the best liquidity and track record.

RobertLloyd, Mhps, this is fantastic feedback. I’m also not sure if we should maintain a list on the site directly, due to its risk of falling out of date.

Another issue that’s not mentioned on the current site is that nearly all exchanges only trade BTC/PPC. Do you think we should mention that the user will probably need to buy bitcoin first?

Thank you!

As you can see from the second link I gave above, there are more than one exchange that offer PPC/USD.

For beginners these pages are good starters with exchange list and directories
http://www.coindesk.com/information/how-can-i-buy-bitcoins/
https://en.bitcoin.it/wiki/Buying_bitcoins
https://en.bitcoin.it/wiki/Trade
This is a good general review of exchanges http://theblogchain.com/bitcoin-exchange-reviews/

One exchange that does PPC but doesn’t get mentioned often is https://www.vaultofsatoshi.com/

Note that there is a difference between exchanges and trading platforms. For example those who wants to buy/sell Peercoins with fiats can do so with bittylicious.com, but bittylicious is not set up for day to day trading.

[quote=“Chronos, post:1, topic:2761”]Here’s the new Exchanges page:

https://docs.google.com/document/d/1Lc4ZRJL8G8i7XYQvVs2d8Uj6N9RHfJAxhDAezCNDX7Y[/quote]

Chronos
I am finding these links difficult to deal with (printing and copy-pasting)
It would be helpful if you copy the text direct into the forum, under where you have the link
Please do this on the threads for the other webpages
Thanks

The Exchanges page has tables in it near the bottom, so print/copy/paste could be an issue there. I’ll be reworking this page shortly.

Google Docs has been a great way to always work with the latest content, and to manage edit permissions. (TheWildHorse has write access to the documents.) I’m reluctant to paste the texts into this forum, because maintaining it will quickly become tedious.

Are you having issues with the other pages as well? Copy/paste should work fine on nearly all the pages.

The problem in not having a list is that: a newcomer wants to get PPC. He or she comes to peercoin.net for information (where else?) - yet, we don’t offer that information? That could present a dead end for some prospective purchasers

In any event, a list consisting minimal factual information need not get out of date very often. A new exchange might start, in which case it is in their interests to inform us. One might close for lack of trade, in which case someone will tell us of the broken URL sooner or later

Better to say something like: Peercoin is often most easily bought with Bitcoin

Agreed. We’ll keep a list of exchanges, in one form or another.

Support that, people can make their own choices. Might be useful to add info like trading pairs (e.g. usd/ppc, eur/ppc or only btc/ppc (most of them). That won’t change often anyway.
Also whether it is a trading exchange or just a site to buy PPC (like litebit.eu) with euros.

We should also get some volume over at Atomic-Trade

Learn about this great exchange here https://www.atomic-trade.com/about

It is a legitimate exchange I expect to be here for the long term. The Fincen license costed near 10 million dollars to acquire. They are updating site with candlesticks and a whole lot of other features soon.

Transparent: https://www.atomic-trade.com/Liquidity

By the way they have an innovative feeshare: https://www.atomic-trade.com/Rewards

We should add Atomic-Trade to list of exchanges to trade Peercoin and direct trading there. With enough volume they will add PPC/USD

My referral: ;D
https://www.Atomic-Trade.com?refid=HLAD3GIR

https://www.Atomic-Trade.com

Perhaps we should not include exchanges that have very little volume. We don’t want to send new users to an exchange that doesn’t have the volume they need to make a purchase.

This leaves a list something like this:
BTC-E
Cryptsy
BTC38
Vircurex
BTER
Maybe Vault of Satoshi
Maybe Coin-o-mat

Thoughts? I think I need some help compiling this data.

Thanks!

Chronos,
Some comments on the text, for you to consider:

Regarding the following paragraph, I suggest you add a sentence (underlined):

What are exchanges?
Exchanges allow their users to exchange one currency for another. You can transfer your government-backed currency, such as US Dollars or Euros, from your bank account to buy and sell Peercoins. You can also exchange other crypto-currencies for Peercoins, such as bitcoin.

Additional comment: the word Peercoin above is capitalised. I read somewhere that Bitcoin (capital B) is the network, whereas bitcoin (lower case b) is the individual coin. I think peercoin.net website needs a consistent use of upper and lower case for Peercoin. If you think lower case is best for the actual coins, then “Peercoins” in the above paragraph should be lower case. Alternatively, you might want to use a capital P across the website as whole. I am easy either way, so long as it is consistent

How do they work?
To exchange one currency for another, first you must deposit the currency you currently own at an exchange. As soon as the exchange receives your money, the exchange registers the amount in their system, and you can begin trading between currencies. At this stage, your money is just a number in the exchange’s system. When you are done trading, you can receive real currency by withdrawing it from the exchange.

I query whether it is necessary to say: “At this stage, your money is just a number in the exchange’s system”. This opening a can of worms and is a topic in its own right. Could the last two sentences therefore be reduced to: “When you are done trading, you can withdraw your new currency from the exchange to your own crypto-wallet or bank".

Buy/Sell orders
The actual exchange process is done by creating Buy and Sell orders. In a Peercoin exchange, create a Buy order to request a certain amount of Peercoins for a lower price. Create a Sell order to sell Peercoins for a higher price. When different orders overlap in price, the trade happens instantly, and the accounts of both parties are automatically credited with the coins they traded.
You can also choose to buy or sell at a Market Price, which will trade immediately at the best price currently available on the exchange.

Two points on this paragraph. I would remove the reference to a “In a Peercoin exchange”, since we have well established by this point that we are in one.

The second is that I think the reference to “higher” and “lower” prices (second and third sentences) adds a layer of complexity that can be bypassed if it is rephrased along the lines of “… buy and sell orders allow you to set a specific price at which your Peercoins will be bought and sold".

In the following section, I would insert a new sentence, at the beginning (underlined):

Should I store my Peercoins on the exchange?
No. The exchange is just what it says: an exchange; it is not a coin storage facility. Be sure to withdraw your Peercoins from the exchange after you purchase them. Storing coins in your own wallet is more secure, and makes you eligible for Peercoin’s 1% minting reward.

I would delete the following, entirely:

Choosing an exchange
Warning: Do your own research before sending personal information or money.

I’ll be rewriting this page a bit more. Your feedback is very helpful.

I’m going with capitalizing “Peercoin” everywhere on the site, whether it is the protocol or the unit of account. I was aware of the Bitcoin vs. bitcoin issue, but I prefer the consistency of this approach.

Thanks!

A few more comments on “Choosing an exchange”

I want to explain my thinking behind my suggestion that the “Warning” about doing research should be removed. This is because (a) it is not practically possible to research the solvency of an exchange and (b), even if it was, that there nothing to say that an exchange won’t get hacked or go rogue the following week. Therefore, research offers no defence - indeed, it may lull users into a false sense of security, as they decide that an exchange is “safe”

Therefore, the only safety advice that is foolproof is that given in the previous paragraph (Should I store my Peercoins on the exchange? - No). Only by removing their coins after trading are people safe from exchange failure. That should be the unambiguous message.

But I think “Choosing an exchange” is valuable as a topic in terms of what services exchanges offer their customers - perhaps you could do a paragraph to explain, in general terms, the various types of exchanges: some offer crypto-to-crypto only, others crypto-to-fiat, and some offer both. Not all fiat currencies are available from all exchanges. Exchange rates and fees vary from exchange to exchange. Therefore, visitors must do their own research to find out which exchange is best for them, but that the Peercoin community is available, via the Forum, to offer opinions and advice based on personal experience, etc.