New Update (26/11/2018)!
A new update is available which is our first stable version. We have successfully integrated with BitGo services and you can be rest assured that your user’s wallets are hosted securely. You should read more about BitGo services on their official page.
Since this is our first stable version, we advice that you run a fresh installation. However, if you already have a set of active users, do this on a different server and inform your users about moving coins into a new platform.
We are gradually working on new features, as well as to optimize the performance of the system. Please, stay tuned for more updates!
Register a new account to be granted access to its wonderful features. Send yourself a test coin using any of the following links
- Bitcoin: https://coinfaucet.eu/en/btc-testnet/
- Dash: http://faucet.test.dash.crowdnode.io/
- Litecoin: http://testnet.litecointools.com/
Must Read: The demo is using a Test Chain under so the address and balance are NOT real. DO NOT send real coin into any generated addresses.
What is a CryptEx?
CryptEx is a peer to peer platform for cryptocurrency exchange. If you have used popular exchange sites like paxful or localbitcoin, this product will be no strange to you. However, regardless of the abundant features, we will take our time to explain its concept.
First of all, this product is unlike any you have seen on the market. Its not just a php scripts but an investment. Get it today, setup a business in the crypto community and make a name for yourself. Sit back and grab a snack while we guide you through a quick tour of its wonderful features!
CryptEx is coupled with a self-hosted Cryptocurrency Wallet It has an interactive design that is both beautiful and responsive. The cryptocurrencies supported at the moment are Bitcoin, Dash, Litecoin. We would try to introduce the concept of peer to peer trading in the next section.
What is Peer to Peer Trading?
P2P Exchanges match Buyers with Bitcoin Sellers. These are individuals trading back and forth with other individuals. Essentially, the sellers are setting their own price and what types of payments they will accept. Many accept PayPal, Bank Transfers, Credit Cards and even cold, hard cash. The Exchange acts more like a dating service, matching people interested in trading cryptocurrency. Of course, they take a small fee for this matchmaking service.
As we said earlier, this project was heavily inspired by well known P2P cryptocurrency exchange platform, and our goal is to make CryptEx a match with them and even better
Buying or Selling.
Trading on p2p may involve buying/selling of cryptocurrencies on with the ability to pay or receive payments in diverse amount of ways. For example, most people prefer to receive coin in exchange for any of the following category of payment. However the administrator is able to add or remove based on the location of their business or whatever their customer prefers…
- Gift Cards
- Debit/Credit card
- Online payment
- Bank transfer
Under these category, administrators may set diverse more sub method of payment. For example, Wallmart, Steam Gift Card under the Gift Cards category. e.t.c
How It Works?
- Creating Offers: Users may create a buy or sell offer for a specific coin supported by the platform. The following parameters can be set for each offer:
- Payment Method: Your choice of payment from the predefined methods of payment which you wish to pay or receive payments.
- Amount Range: The range of amount that must be set when creating the offer. For a sell offer, you must have more than the range of amount in your wallet before it can be displayed for potential buyers. However for buy offer, you may specify as wide the range as possible provided once the trade has been started by a potential seller, you have to meet up with the payment before the trade automatically expires.
- Profit Margin: As a buyer or seller, you may choose to gain or lose. The profit margin is used to determine these on each trade. For example, if you set a profit margin of 5% on a $5000 trade, you will gain $250. Usually, most buy offer are set to a negative profit margin so as to entice a potential seller.
- Offer Label: Any marketing text like “INSTANT RELEASE”, “NO RECEIPT REQUIRED” that will appear after your payment method. Maximum 25 characters and only letters and numbers
- Offer Tags: Add quick that describe your offer terms such as “No ID needed”, “No receipt needed”. And you can only select maximum of 3. These tags are predefined.
- Offer Terms: The conditions you want the interested trade partner to comply with, before a trade is initiated.
- Offer Instruction: This is displayed to your trade partner once the trade has started. It could contain further information to ensure a successful trade.
- Visibility/Requirement Preference: You may specify the verification requirement (such as phone or email verification) from a user before a trade can be initiated with you. Also, you may limit its visibility to trusted contacts only.
- Initiating Trade: As a buyer or seller you may select from the list of available offers from the marketplace with which you can initiate a trade. Some of the features of trade includes..
- Real Time Chat: This is the most essential. Both parties of a trade have a means of exchanging information in realtime directly on the platform. This includes support for file sharing, which they can easily drag and drop to upload.
- Countdown Timer & Auto cancel of trade: Since the coin is been held on escrow from the seller once a trade has started, the seller is able to set a count down on a trade before it is cancelled. However, the buyer is able to “confirm payment”, which will cause the timer to stop and wait for the seller to release coin.
- Raising Dispute: Once a dialog has not been met, either of both parties may choose to raise a dispute, which will call the attention of any available moderators who will attend to the trade and take absolute decision, i.e either cancel the trade or release the coin.
- Chat Monitor/Real time Notification: Every user is able to monitor the trades from any where on the site, and they may not have to keep refreshing the page because the platform sends notifications with an alert tone instantly.
- 5 Star Rating System: After every successful trade, the partner who started the trade is able to rate the other based on 5 stars and a comment. New partners usually feed on this before they initiate a trade with the same user
- Self Hosted Wallets: As stated earlier, this is coupled with management of FREE wallets for users, with which they can generate address, send and receive wallet transactions. We maintain connection with the blockchain network either directly or through a third party you may read more about this above and on the documentation.
- Multi-coin Support: This is what you would not find on most P2P cryptocurrency exchange platform. We offer support for multi currency, however bundled with this release is only Bitcoin, Dash, and Litecoin. We hope to offer freedom of choice of crypto coin in future updates.
- Real time notification: We ensure that nothing gets past the user by providing a realtime notification system of all active trades and activities. With this in place user may not need to refresh the browser, but only listen for incoming notification tone.
- Multi-currency & Realtime Cryptocurrency Prices: Regardless of where ever you want to set up your business we have more that 100 fiat currency which your users can choose from. Their wallet balance price is also updated with the realtime equivalent of its conversion.
- Email & SMS Notification: While some notifications may not be all that essential, along side standard email notification, we have provided sms notification as well which is made available only for some really important information to be passed. Regardless of all, users can enable or disable the type of notification they want
- Real time Presence Status: Users may be either away, online or offline at any point in time. So in order to avoiding misleading potential traders, CryptEx supports real time presence status of all users which updates in real time.
- Two Factor Authentication: Nowadays most platform with prominent security, requires user to setup a two factor authentication using either of Google Authenticator or Authy. You can research more on how they work from their official sites
- Phone & Email Verification: CryptEx was build with security in mind so we tend to add as many verification means as possible. Among these, it also supports email & sms confirmation, simply ensure that both drivers are setup properly. You may need to refer to the documentation.
- User Contacts: Users may save contacts of their most trusted partners of trade, this will give them a faster access to their offers, rather than looking through the numerous offers on the marketplace all the time.
… this is just about the little we can outline right now. This document will be updated regularly to appropriately reflect all its features. We will leave you to decide yourself after trying the demo version.