There have been comments that some of the community missed the AMA interview with the CEO of US based crypto on- and off-ramp service Sequoir. If you weren't able to catch it live, you may be interested in all of the great info from the event! The AMA begins with a quick elevator pitch to get you up to speed with Sequoir's services, values, and goals and how they align with Hive. What follows is a really fun and in-depth conversation around the crypto sphere as we know it, what's in store for Sequoir and Hive, and of course, lots and lots of Hive community member questions!
Below is a very summarized version of the video transcript and time stamps if you'd like to jump straight to a specific topic or do a quick catch up. (You'll get the short paraphrased answers below, but miss out on a lot of the thoughtful conversation and fun in the video version.)
An introduction to Justin Seidl, and his company, Sequoir
"We're Sequoir- coming from the words secure, and acquire- meaning to go out and acquire some of these assets in a secure and easy manner. At our core, that's what we want to do: we want to open on-ramps and off-ramps to many different regions, many different types of fiat, many different types of payment option, and really simplify that transaction process.
We're trying to make it very easy to buy and sell digital assets. "
Q: Tell us more about the ability to use debit and credit cards with Sequoir. (skip to 11:30 in the video)
A: Debit and credit card purchases are both supported via Sequoir's services! Some discussion around helping educate users on smart purchasing choices, and US and European rollout for card support.
Q: Sequoir has goals to both educate new crypto users but also to give back to decentralized groups inside the cryptocurrency community, what do these look like? (skip to 15:35 in the video)
A: No listing fees for coins, supporting decentralized community teams and giving/donating back to non-profit foundations within the crypto sphere. Sequoir was founded with the goal of contributing to decentralized crypto projects flourishing while providing access to market assets without charging for listing.
Q: Can Sequoir service ______? (Venezuela, Alaska, other specific geographical regions) (skip to 17:40 in the video)
A: Only a few US states are currently excluded, as each individual state sets their own rules around money transmittance and crypto. As legislation changes, covering them will also. For global locations, regional support is explored as demand goes up. If you're in a location that isn't currently serviced, reaching out directly by tweeting and the contact link through the Sequoir site are the best ways to help draw attention to your region.
Q: Sequoir is a non-custodial exchange, which means you never hold on to client assets. This is obviously very important in the DPOS space. Can you explain how this process works with your services? (skip to 21:47 in the video)
A: Sequoir doesn't want to hold your fiat or your digital assets, at all. Providing an on and off ramp for clients to move value as they see fit while empowering people to be their own bank is important. Once you specify what you'd like to buy or sell, you're quoted a price at that time. Sequoir handles funds or assets only as long as it takes for payments and transactions to clear. Depending on your bank
Q: Will Sequoir provide merchant services or API for dApps to accept crypto directly? (skip to 32:03 in the video)
A: For now, no. Sequoir is partnered with an excellent payment processor and is working with them to expand different types of payment rails, but for right now will not be providing merchant services directly to projects (ie: providing software for debit or credit processing on behalf of third parties.) However, there is work being done on API access to a Sequoir portal- this means you could allow someone to log into their Sequoir account directly from your own site or dApp. If you're a larger project looking for more help and advice on this type of integration, feel free to reach out to discuss API and partnership options!
Q: What are Sequoir's top priorities/long term goals? (skip to 35:35 in the video)
Most importantly: breaking down the walls of crypto tribalism.
A: It's important to educate and provide services in a way that allows everyone to enter the crypto space and discover the options available to them, without focusing on some of the toxicity that can crop up between differing communities. Otherwise- facilitating communication between devs, end users, and passionate crypto adopters to help to benefit crypto as a whole, and continuing to expand Sequoir globally to empower more people to transact value quickly and economically.
Q: Can Sequoir accept pre-paid credit cards? (skip to 40:00 in the video)
A: For right now, no. Because pre-paid cards don't have an attached postal code, they can't be processed at this time. Sequoir is looking at ways to accept alternate types of payments but for the moment pre-paid cards aren't an option.
Q: What kind of KYC does Sequoir need? (skip to 41:44 in the video)
A: Sequoir needs ID verification and uses a secure third party processor to help manage and keep your details secure and out of their database. US customers need to provide their SSN (one time only) which allows Sequoir to make ACH transfers to and from your bank account.
Q: Does Sequoir only allow fiat deposits, or do you support fiat withdrawals as well? (skip to 43:40 in the video)
A: Sequoir can provide direct fiat withdrawals within the US (Europe is in the works, but not available for now.)
Q: What do Sequoir trading fees looks like? (skip to 45:36 in the video)
A: On average, fees with Sequoir range between 1-2%, depending on volume/liquidity and payment methods chosen. Keep in mind that the payment processors themselves will add their own fees depending on the method you choose (pro-tip: credit card purchases are considered to be cash advances and those bank fees are pretty brutal.)
Q: Can I use PayPal with Sequoir? (skip to 48:30 in the video)
A: Near term future, it's not likely PayPal will be integrated- chargebacks and PayPal policies can be very difficult to navigate for a company like Sequoir because once crypto is sent, it cannot be pulled back. Other PayPal alternatives are being explored, however.
Q: What interests you about Hive? (skip to 51:30 in the video)
A: The strong willed community, the focus on decentralization, and the diverse value and use cases are all great matches for Sequoir's ideology and the crypto space as a whole. Seeing an ecosystem that can being in new users, help them understand blockchain tangibly as they use projects is a big thing!
Thanks for attending the AMA live, or following up with the video and being an engaged member of the Hive community!
Please get in touch with @Sequoir here on the blockchain, through their website, or out on Twitter, and if you try them out feel free to let them and the rest of the community know how it goes!
Are there any other AMAs, video content, Q&A sessions or interviews that you would like to see in the future?
▶️ 3Speak
Nice, I’ll have to make time to watch, but it was interesting just to skim the notes. I didn’t know they offered fiat withdrawals as well. I would love to see Hive.blog and PeakD.com utilize an API system like they mention to allow an easier on/off ramp directly on site.
thanks for the news, it will be interesting now.
Thanks for sharing the details