Zappl Inc and a few others in the community have been pushing hard. Trying to get the pairs we feel are needed for the currency to take a step further either before smts, or the new user signup is made. Down below we will fully go over the issues and questions were facing from exchanges about Steem and the upcoming Smt tokens.
Making Contact:
As some of you know we have been corresponding with a few exchanges. And providing them with documentation on the changes and updates on the steem blockchain.
You can read it from the last post to catch up:
https://steemit.com/steem/@zappl/getting-steem-and-sbd-traded-with-fiat-pairs
This peaked the interest of 2 U.S. exchanges, 1 Chinese exchange, 1 Japanese exchange, and 4 EU exchanges. Because we're still currently in talks with these exchanges Zappl and third parties involved will not be sharing their names publicly yet. The talks are early, and we don’t want people giving outside pressure to these exchanges.
First fiat pairs:
Steem and sbd gained a fiat pair sometime ago which many people over looked.
Upbit has added both pairs and are trading a bit above market price.
Sbd -> Fiat pair
https://upbit.com/exchange?code=CRIX.UPBIT.KRW-SBD
Steem -> Fiat pair
https://upbit.com/exchange?code=CRIX.UPBIT.KRW-STEEM
Talks & Estimations:
We have been working an working and we feel from out talks we'll have fiat pairs for, USD, EUR. CNY. By late 2nd quarter or early 3rd quarter. Of course this seems long but this all depends on the support the community gives on expressing to these exchanges you wish to trade in fiat.
Also depending on how many people take in smt's ico development. Honestly its pretty closed off data for most people and for most part who will all be participating. So if anyone has information on companies and people who will be doing ico's this information could lead to opening some doors we need open.
Why do we think that?
Well because with trend when coins get added to fiat pairs on multiple exchanges, this makes the entry into said coin much easier. Which is one of the reasons who coins like Eth and other Fiat -> Coin traded pairs massively raise in price.
Announcement:
Zappl currently in talks with banks and people who have money transmission licenses. Many of you have known Zappl has shown a huge interest in opening an exchange that will allow for fiat pairs to Sbd and Steem. Zappl feels we need the infrastructure to allow smt's to prosper in the world wide Crypto Economy.
So Zappl is now pushing hard at getting an exchange done.
Features were looking to have:
- Multi Country support
- Apps on launch
- Merchant services
- Fiat pairs for Steem, Sbd, BTC, ETH
- possibility of a smt to fiat exchange
- Debit Cards
If you would like to help in the efforts please feel free to contact us.
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HitBTC has good volume for fiat pairs such as EOS/USDT, BCN/USDT, DOGE/USDT etc. with decent volume. Interestingly, they had STEEM/EURO pair with very low volume, now discontinued. They should have STEEM/USDT fair (i.e. I requested them several times and traded over there for 3 years). Unfortunately, STEEM/SBD withdrawal are disabled for months for unknown reasons, it would be great if devs or @zappl are in contact with them to solve the issues.
EDIT: I mine some BCN, I sell them for USDT at HitBTC, then buy DOGE, transfer to Poloniex to sell them to buy STEEM and transfer STEEM to my Steemit wallet. Exchanges has weird issues, I can't sell small amount of DOGE at Bittrex or depositing BCN to Poloniex takes 14 hours (In HitBTC 25 minutes). Once we have fiat pairs for STEEM, or simply STEEM/BTC pairs in top exchanges due to its fast confirmation, zero fee and scalability, it can can be the choice for the top transaction crypto for all kinds of arbitrages, then STEEM can see very large volume.
Here is the form to Binance application to list a coin on their exchange. Looks like the Founder / CEO of STEEMIT will need to sign the form. https://support.binance.com/hc/en-us/articles/115000822512-Listing-a-Coin-on-Binance-com
The form requires @ned or one of the team leads that work on steem to fill out their application.
It seems like @ned would have done this already. Either Binance doesn't want Steem/SBD or @ned doesn't want Binance. Do you think that there is a strategy that is going on here?
The demand for fiat trade is high. I run a small fund of steemit investors and main problem is that people just can't buy STEEMs without 20% losses.
Although being just a olphin daoe not help much.
We need established fiat trade, need it liquid and need it fast.
Thanks for your work, @zappl!
That is great news. I would like to know how to get SBD and STEEM on Binance. Is there an effort to get Binance to trade STEEM?
Yes, @socky I agree. Getting it on Binance would be really nice.
Not sure but it would be cool.
This is splendid news!
If anyone wants to discuss this please head on over to the Zappl discord server! thanks everyone.
drool, a CNY Debit card would sort my life out for good... holding my breath!
Yeah debit cards would be really helpful.
WOW this is very inspiring news! If we can cut out Coinbase and banks completely by using Steem/SBD to Fiat trading and allow users to exchange fiat and crypto with each other we can have our own micro economy, a breakaway economy if you will. and it will empower steemians with a wide range of products and soon we will have a hipping service to deliver them. Wow the sky really is the limit with steem! Very happy to see so much progress with Zappl!
have youheard of the American Express Serv cards? thjey allow free Fiat to Fiat digital Dollar transfer, so you can send money from on Serv to another Serv free, maybe we can piggy back on this and zppl can encoruage users to simply order these cards or buy thema nd lad them at the super market (I believe they are $5 each) and then people can send money from serv to serv when making steem or SBD payment, they can even use escrow accounts for the steem/SBD and the serv payments by having a third serv card to send money too, and since its all free I can see it being VERY useful for our currently small time needs but also scaling up, and I am sure American Express would be happy to allow us to use THEIR service instead of Venmo or Paypal in fact I would RATHER skip a Bank account and just use Debt cards, and use Cryptocurrency as the new Bank account... with debit cards as something I load up with local fiat currency... This system seems to be working just fine right now! I have even seen advanced proptotypes of special debit cards that have tape cassette type tape that is reprogrammable and has a keypad battery and lcd screen with multiple cryptocurrency wallets and a need for a pin code when spending, so yeah the future is pretty amazing we are going to use the existing debit card infrastructure to do some great things with crypto! And @zappl can be at the forefront with projects like this!
Fiat pairs would be nice.
I will be slow and will be making mistake as well at read up on what I missed.
Please, help me when you can > I feel like a fish out of water.
THANK YOU for all you do guiding and supporting me.
I can't wait for Zappl to be available as an iPhone app!
Keep up the good work.
If I can trade directly for fiat STEEM will be getting a larger piece of my portfolio.
Glad to hear you're interested.
Could we look into getting Steem/SBD on COSS? I really like where the exchange is headed, they are doing everything by the book and Fiat is planned!
EDIT: I’ll do my part and brings it up on their telegram
We could look into it.
Awesome! If you need any help or anything like that let me know. I have no idea how to get coins listed or what the normal process is.
Thanks @travelersmemoire the more we have people talking about it the better.
Good luck and we are waiting ... awesome @zappl
thank for sharing , wanna join this
that's great to know, thanks for sharing this information.,..
No problem.
Hopefully Zappl talks can work
Keep killin it y'all, I'm hype
Thanks for the info and keep up the great work. Let's go Zappl and let's go STEEM!
@zappl Thanks for your post because it is very necessary to know, sorry because I am new Beginner in steemit, and I am not fluent in English, success continues for you, regards to friendship.
Sounds interesting, so I’m new to steem so I doubt that it would much of an effect on me. But change is always good especially with the shown interest of the exchanges involved. So will the SMT token replace steem or just be an addition to the existing forms of steem?
No smt's won't replace steem and sbd. Infact the main trading pairs on the new internal exchange that will come with it likely will be steem and sbd. So odds are they won't lose their importance.
Thank you for this informative post,
This is in the boiler room.
The scalability of steem is impressive and steemians stay focused
This is a sensational update.
I know it is difficult to make progress with the exchanges which is amazing. I guess they look at STEEM and SBD as small coins...little do they know.
Question: I thought STEEM was the pair for all tokens created using the SMT protocol and was going on the internal exchange so they instantly had liquidity...is that still the case?
i believe the internal exchange will have steem be the pair would be could for sbd to be a main pair as well.
that is so cool..
that's great, have a nice day...
Crypto to Paypal is useful. More so when some banks are funny. ie. Coinbase to UK or European banks is non existent. Fine if you're American though.
Yeah its getting harder to trade.
When STEEM is available using direct USD incur, the price will shoot to the moon.
@zappl is going to have a strong userbase this way. Hmm!
Yep so lets just cross our fingers and hope it happens as soon as possible.
Yes, we need this!<3
Multi country support would be awesome,Africa as a continent has a lot of massive activity on Steemit.
It would be great if the key countries in Africa are included in this.
Love the work you guys are doing!! Definitely a step in the right direction, Awesome to hear you are working on an exchange as well. Whoo! Steemit! lets get it
This is so important for STEEM (and actually all altcoins), to finally get independent of the dying BTC!! I can´t wait to see a future of trading pairs with fiat (or alternative Smart Coins) with lesser volatility, that really reflect the value of an altcoin. It´s sad, that the exchanges have so much power over the whole market and the sooner this horrible BTC situation ends, the better for us all!
Whatever drives the most fee's normally what gets listed.
Is it really that obvious? I mean, they could charge even higher fees with fiat or other currencies than BTC and still don´t do it?
Traction of a coin is normally the factor, so like kwr already trades and they do like 100million in trades daily because of the fee's they most get. Its competitive to list in kwr. So if usd or eur gets listed in a decent exchange it will quickly popup elsewhere.
I want to believe, but I´m wondering why no one has tried this before, since this isn´t technically a big change and what can they loose? Isn´t it more because the moment you let people deposit fiat, they are falling under strict AML regulations and would need banking licenses etc?
Thanks for share
This post has received a 14.95 % upvote from @booster thanks to: @fyrstikken, @ghostsama.
India contributes 4 largest user base in steemit , definitely give steem,sbd to / inr a thought
When Steem is paired traded more will be the day steem is one step closer to replacing the king of crypto btc. Hope that day comes soon ;) Thanks for the effort pushing steem and sbd pairing.
how does this work I can make a post on Zappl and it will post on my steemit account?
Excellent information
zappl is doing the best things for everyone :D
upbit language is not understandable
This post was a little over my head lol. I gotta a lotta research to do. Steem Kindergarden class ... I'm in the front row :)
Joy
This and a debit card will be complete! Thank you to everyone working hard at trying to get this done.
https://steemit.com/contest/@salmanbahadur/post-funny-image-and-win-5-sdb-steem
You could win 5 SDB!
nice,
posting is very useful
Upvote and follow you)
Useful
I don't understand what you mean by pairs. I personally would like an easy way to convert sbd to cold hard cash.