BitValve: Disrupting P2P Exchanges
After a large amount of interest from the community in response to BitValve’s feature in our Top Announcements of the Week article, we heard you loud and clear and got a chance to speak to BitValve Founder, Konstantinos Berios about the project.
Tell us about your project — what is the product?
BitValve aims to disrupt the current P2P Exchange Oligopoly by introducing a unique and full featured platform to traders around the globe. Our idea is that every person in the world would be able to access, buy and sell, their favorite cryptocurrency by using any payment method available, whether it is fiat or cryptocurrency, and trading directly with other users. The Platform will ensure the security of the transaction by acting as a trusted escrow service. Furthermore, the Platform will have a positive effect on the countries that are currently facing a financial crisis, such as Venezuela, by giving their people the option for alternative, peer to peer instant trading.
What is the problem you are solving and who are the customers?
The main problem that the platform aims to solve is the struggle many people have when they want to easily buy or sell cryptocurrencies, and pay using a big variety of Local or Global payment methods, fast, easily and with no absurd trading/exchanging fees.
Furthermore, the existing Peer-to-Peer cryptocurrency exchanges have significant drawbacks, such as relatively high fees, support a limited number cryptocurrencies, do not enable crypto-to-crypto trading, have basic UX design and UI design, lack support for iPhone and Android apps, have weak information security, offer expensive or non-existent dispute resolution support, are based on slow and rigid processes, cover limited payment methods, and have limited availability.
The customers of BitValve will be the majority of Cryptocurrency users. The platform will target both Professional traders who are in need of an advanced P2P Platform to do their business, but also novice users that simply want to buy or sell their favorite cryptocurrency in a quick, hassle-free and cheap way, using their most convenient means of payment.
What is a real world news event or example you would reference to show the importance of this project and its impact?
The continuously increasing Regulations surrounding the Cryptocurrency Exchanges, the last 2 years, is the best example we can mention. Exchanges all over the world have started enforcing KYC verifications and limiting or even shutting down their operation in specific countries. More specifically, exchanges don’t offer Banking support (For fiat withdrawals and deposits) in Countries that are in economic crisis. Other exchanges have stopped completely operating in countries (i.e. Japan). Furthermore, one of the leading P2P Exchanges is currently enforcing KYC procedures, making it even harder for normal people to trade their Cryptocurrency, without needing to become KYC verified.
Lets talk tech. What stands out as impressive with what you are doing?
The Platform aims to utilize the benefits of decentralized exchanges, while, at the same time, eliminate the drawbacks of the current decentralized exchanges. Below is a non-exhaustive list of BitValve’s advantages:
Up to 50% less escrow fees
Professional Traders who will pay the commission using their BTV Tokens will pay 50% less commission fees than the current competitor exchanges. Traders without BTV Tokens will pay 20% less commission fee, payable in any cryptocurrency.
Multi Cryptocurrency Support
BitValve will be the only P2P exchange that will support many cryptocurrencies for trading. Those will include, for example, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. We will add new cryptocurrencies monthly, according to the market demands.
Crypto to Crypto Trading
BitValve platform will also allow Crypto to Crypto trades. We will provide our traders with the option to trade one cryptocurrency for another. Since the Platform will support many cryptocurrencies in user’s wallets, the Crypto to Crypto trade will be made entirely and securely through the Platform. As an example, a user will be able to “Sell 1 Ethereum for 418 Ripple”.
Unique UX and UI designs
Our exclusive website design will offer a better user experience for BitValve traders. Our goal is to design and develop a platform that will be easy to use, trouble free, straightforward, and novice friendly.
Official Mobile Apps
BitValve’s official mobile applications for iOS and Android will provide traders with instant and uninterrupted platform access. Users will be able to act and
respond on trades from anywhere by using any device with our secure applications.
Enhanced Security and Availability
BitValve will implement latest security measures and techniques, thus ensuring security of the trade transactions. The Platform will also become available in the Onion network in order to ensure anonymous and uninterrupted access.
24/7 Support and Dispute Resolution
BitValve’s support team will be available 24/7 on live chat, email, telegram and BitcoinTalk to ensure the best trouble free experience for its traders. Dispute resolution will be handled by law professionals at no or affordable cost.
Please tell us about your team and their experience.
The BitValve project is being developed by an experienced team of 8 Persons, each one of them providing different services in the project.
Personally, I have been working in the Bitcoin industry since bitcoin was about $300, that is on 2014. My main occupation was the administration, management and security for multiple servers that were running different iGaming platforms, and using Bitcoin wallets (bitcoind). In 2015, the servers had approximately 5000 Bitcoins in Bankroll Investments, and i was the main person ensuring the secure and continuous operation of those systems. Since 2016, i have been providing my services to different Bitcoin platforms, until BitValve idea came in September 2018.
The branding design is being handled by Julien Gionis, the founder of StudioJugi, an award winning design studio specialized in brand identity systems and visual design for brands, companies, and professionals looking to take their businesses to the next level.
Nikiforos Kollaros is a visual designer based in Athens, Greece. Holder of a BA(Hons)degree from Middlesex University of London, and awarded with a First Class degree, he has been designing the UI and UX of various websites, through his years of experience.
John Markostamos is a full stack engineer based in Athens, Greece. Holder of a bachelor’s degree in computer systems engineering from University of Piraeus. John has over 7 years of experienced in frontend and backend technologies such as HTML. John has been working as a team with Nikiforos in the past, ensuring that the communication and delivery from both is flawless.
Ben Kaufman is a Blockchain and cryptocurrencies expert, based in Tel Aviv, Israel, with great knowledge on decentralized systems architecture, smart contract and Dapps development and cryptocurrency infrastructure mechanisms. Ben will handle the Smart Contract Development, needed for the BTV Tokens. He has 5 years of experience coding web, mobile, desktop and server side applications. Ben is also the Founder of BitCampus, an educational institution dedicated for the Blockchain and Cryptocurrencies industry.
Dr. Daniel Dimov is an Internet law expert based in Belgium. Daniel received a PhD in law from the Center for Law in the Information Society at Leiden University, the Netherlands. He has a Master’s Degree in European law (The Netherlands), a Master’s Degree in Law (Bulgaria), and a certificate in Public International Law from The Hague Academy of International law. He is BitValve’s main Legal advisor, and his contribution has been very valuable so far in the project’s course.
Simon Zenios is an experienced corporate lawyer and ICO expert. He holds a bachelor’s degree in law from the University of Nicosia in Cyprus. He is the founder of Simon Zenios & Co LLC Law firm, based in Cryprus, and has teamed up with other experts in the fields of blockchain technology and ICOs, forming a specialized team which has conducted and overseen many ICO projects. Simon Zenions is handling BitValve’s procedures for the “BitValve BTV LTD” corporation, based in Larnaka, Cyprus.
Finally, Anthony Manfre is a corporate finance expert, with extensive experience in start-ups, investments and cryptocurrencies. He has been working for over a decade at Commonwealth Bank as a Corporate Analyst and Relationship Executive. Anthony has been our main ICO Advisor, especially in the process of Whitepaper drafting and Token metrics.
What sets you apart from your competitors?
As we already mentioned, there is an Oligopoly in the current P2P Exchange scene. These exchanges are forcing their 1% trading fees, leaving with no alternative to professional traders.
Below you can see how we compare with two of major Peer to Peer exchanges:
How did the idea come about? How did the team come together?
The idea actually came through reality. Last few years many people, including myself, were trying to find fast and easy ways to Buy or Sell our favorite cryptocurrencies using Bank Transfer, Paypal or even Western Union, without the need to expose their Identity through KYC procedures. I would like to mention here, that everyone has the legal right to Anonymity and this doesn’t mean that when someone wants to be anonymous, he has something to hide. There was no solution to our problem, so we ended converting our i.e. Ripples to Bitcoins and then using a P2P Exchange to exchange it to Fiat via Bank Transfer (SEPA), Paypal and more.
Regarding the team, initially i went in contact with Julien Gionis because his Branding work was top-notch. Later, he introduced me to other 2 Developer he has collaborated with, Nikiforos and John. We had a meeting and decided that they could contribute to the project.
Dr. Daniel Dimov has been my Legal Advisor since 2016, so his services were already known to me. He learned about the project also, and decided to contribute too. He also got me in touch with Ben Kaufman, who i met in Israel, and he will be our Smart contract developer. With Simon Zenios i met in Larnaca, Cyprus and we decided that Larnaca, Cyprus is the best place to incorporate BitVale. Last but not least, i personally contacted Anthony Manfre, and after presenting the initial Whitepaper draft to him, he decided to join forces as our ICO Advisor.
What is coming up next for the project that you are excited about? What should our readers know to look forward to next?
Currently the most important thing coming next is our public Pre-Sale, which starts on 2nd of January 2019, and has +40% Tokens bonus. We are working really hard to get everything ready for the Pre-Sale, so that we will hit the hard cap!
Investors should Join our Whitelist, in order to participate in the Pre-Sale and Main-Sale.
Accepted Cryptocurrencies will be: BTC, BTH, ETH, DASH, LTC.
BitcoinTalk ANN: https://bitcointalk.org/index.php?topic=5071331
BitcoinTalk Bounty: https://bitcointalk.org/index.php?topic=5072577.0