I am still waiting for Swapdcoin the new currency for buying and selling social media accounts. Swapdcoins can be used for transaction fees, for services and payments, for rewards for users, it could be mined by spending time on the website and earned for helpful community posts. After you raised 100-200k you list it on smaller exchanges like latoken for a 30k fee.
I don’t even have time to make fun of sissy @RandyMarsh, yet alone start a new crypto
I hate crypto.
Why? What have I done?
I heard people use @Crypto to buy drugs online. Should I ban him?
Not a good idea for now as swapd have alot of workload already that they have to automate the bot to humiliate yair
But this is a good idea and can be implemented after swapd becomes more bigger than it is. S
Anyone who wants to purchase property, service or anything they first purchase swapdcoin then proceed with the dealings. Same as tomorrowland token.
Seriously, i understand this is scary. But now that i have planted the idea in your minds, it’s just a matter of time. muhahahahaa.
And if you are lazy just use JSEcoin. It’s eco-friendly, has all tools needed for secure payments, can be mined by webmasters, and is almost totally worthless (ya, that was the crux)…
Nevertheless check it out. I am not affiliated with them at all. Just love swapd and JSE.
I wonder if this would help us tax/law wise. Set up a crypto, then only invoice the buying/selling of crypto. This could actually make things easier for us, but not for the buyers/sellers.
For buyer its simpler if you have easier payment options.
I dont know about crypto but a wallet system can be pretty good. Similar to how most panels do it.
- You have a bunch of payment options. Credit Cards, Bank Wire, BTC and maybe PayPal.
- Customers load their wallet using any payment option.
- Anytime they want to buy something they use these credits/wallet.
This makes it easier for you as a company a lot. And frequent buyers can load up wallets by buckets. Haha. Some may load 10k and others 50k. And the shopping spree begins.
This will completely resolve wait time on payment from buyers to SWAPD.
And having more payment gateways will open up more possibilities. Not everyone has BTC or bank wire. Taking card payments can go far in terms of boosting sales.
The sellers on the other hand get credits on their wallet minus the fee anytime they sell something.
Then they can use these credits to buy other services or they can withdraw.
Again this overcomes the issue when a seller wants to use their earnings on a service but they usually have to first get sales proceeds in their bank account and then re send money all the way again to SWAPD.
So. Yes. More sales for you. Less turnaround time for buyers and sellers.
This isn’t crypto or anything. Its better.
I mean I wouldn’t mind loading some 5-10k in my wallet and having it sit there.
In this business you never know when something super attractive shows up.
Maybe @boogeyman opens his thread again and I’d dump that 10k in a blink buying his services. Haha.
In some situations dont have time to waste.
You copied all this directly from my mind.
This will be a great idea not for only swapd but for the buyers and sellers too.
Swapd would have to enforce strict asf security and firewall.
What if there’s a vulnerability and every users wallet is at risk?
That’s the only downside otherwise it’s an alright idea.
Well - its not a big deal keeping a site secure.
All marketplaces have wallet systems and I don’t remember having any trouble using any of them in the past 10 years.
I’ve built dozens of similar businesses and marketplaces and I know what I’m talking about. If any site wants to grow then wallet and automation are the only way forward. You can’t scale much if you have to manually handle each tickets incoming and outgoing payment.
Not sure how the wallet will be at risk?
In my industry (social media) people maintain an average $50k a month with vendors. Never had any news of panels getting hacked. My balances for 4+ years now with my vendors are on average of $50k in each wallet and half a dozen wallets. Larger SMM sites have bigger volume and fatter wallets.
Most panels I know (CCB, JAP, GVP) they rotate a good 7 figures a month. Not sure where the vulnerability lies in that. Payment still goes to SWAPD bank, BTC wallet, PayPal or any other processing gateway. Money won’t be at risk.
Any running business would prefer maintaining a wallet. In my circle (SMM) we all maintain wallets with vendors.
And if SWAPD were to have this - I would certainly maintain a good 5-10k if not more here.
Most people using Freelance.com or Envato marketplaces maintain a wallet too.
So - this isn’t something new or something for you to approve. Its simply a common practice.
Makes things streamlined and quicker for all + more sales.
Lets say I sell something for $10k here today and I also want to buy something for $4k. At the moment, my buyer will send $10k to SWAPD and then SWAPD will send me those $10k. And then I will send $4k to SWAPD for the thing that I want to buy and then SWAPD will transfer that $4k to the seller.
This can be streamlined.
Not to mention taking credit/debit payments will naturally boost sales.
Anytime I’ve integrated a payment gateway like Checkout.com or Stripe or 2CO - my sales have always boosted. Again - this isn’t rocket science. Haha. Just common practice in this industry. Not everyone does BTC or Bank Wires.
A very typical wallet size with SMM panel (providers). And I’m in no way a big reseller. People I know have a much bigger appetite (100k+ on multiple panels as min balance).
AND - core providers even have min. requirement of input as registration. Anyone in SMM would know that you cannot sign up accounts with vendors just like that (talking about providers, not resellers). You need to have a good demand to get direct hookup and a min. funding amount is needed. Mostly $50k.
Or else you go to ‘reseller’ panels which 99.99% public uses.
Anyway - don’t want to jack this thread. This is my last input and I’m out. But - yes, this is the way forward. Tried and trust by many of us who’ve been in this for far too long.
@rockstard112, I like the idea of the coin system mainly because to truly be a real escrow we have to reclassify SWAPD (SKYNETINC) as a company (tax-wise). The problem is that our current tax setup allows us to avoid high taxes, but I cannot invoice EU companies under this classification as 23% VAT comes into play. This scares away EU business. The alternative is to go full escrow (law-wise) but that means w whopping 38% income tax (welcome to Europe) vs. 19% that we currently enjoy. I am genuinely wondering if a buy/sell coin system would help me keep the 19% while not worrying about EU companies. This could be BIG. I need to talk to my accountant/lawyer to see if this is possible.
This is the only problem I see, we don’t want to accept credit/debit cards as they’re prone to easy chargebacks, especially in this business. SWAPD doesn’t make a lot as a company, all it takes is 2-3 bigger chargebacks and that may equal to 2 months of earnings. I still like the coin idea, but it would be funded via traditional means like they’re now.
I just found the first problem with the Swapd coin. 20-30% of our monthly transactions come from BTC.
Let’s say someone purchases 10000 Swapd coins for 1 BTC when BTC was worth 10K per coin. Two months pass by and BTC flops to 3000 USD per coin. Now the same Swapd coin is worth much less (on our end), but the buyer won’t care as he still has 10K Swapd coins, and we would be screwed once we had to pay out the seller who’s trying to cash out his Swapd coins via PayPal (for example).
How do we solve that problem?
While I do actually completely agree with your points, I’d like to point out that SWAPD does take card payments? just, you have to use PayPal as the go-between, that could be cut down in fees if done via an alternate method tho.