The founders of Tokpie have called it. They claim their exchange is not just another advertising site and they can back up their claim. Interview with Vasilii Silin, CEO and co founder follows:
“There is a lot of flim-flam out there in the crypto trading world with players claiming to offer peer-to-peer trading opportunities when in reality many of these sites are nothing more than glorified online advertising platforms. Here at TOKPIE we can offer you the real McCoy—and we find it annoying when people try to compare our innovative trading platform with a marketing platform. In our opinion that is akin to comparing photoshop with the paint app. There is no comparison.
“To better explain let us look at the number one competition in the area of peer-to-peer platforms—https://localbitcoins.com/
“Localbitcoins is the most popular peer-to-peer site where people can transact bitcoins into fiat currency depending on where they are based and their preferred fiat currencies. While this is a popular service, the actual platform is only an advertising marketplace, like https://www.adverts.ie/.
“It means that each user of localbitcoins.com must post their advertisement fully describing conditions how they wish to sell/buy. The corresponding purchaser/seller must read all the conditions before deciding if they want to do a trade with that counterpart. This is a long winded and ultimately unsatisfactory process when you just want to transact.
“However, at TOKPIE, we have revolutionised how peer-to-peer transactions are made. Within our platform we have taken into account all the parameters required to make a trade. These are: Country, Base cryptocurrency, Quote fiat (or crypto) currency and method of payment.
“Of course, and just to remind your readers, we charge zero fees. So, if you wanted to purchase bitcoin with zero transactional fees, you no longer need to read the different advertisements of what might be available, you just submit a purchase request on the TOKPIE platform in the required instrument with the four parameters stated [Ireland—BTC/EUR—Bank of Ireland]
“To clarify—for the purposes of our site, an instrument is a unique combination of country (origin of payment), base cryptocurrency (what you want to buy or sell), quote currency (what you want to exchange your base cryptocurrency for) and the payment method.
“By standardising our instruments—encapsulating the deal in a unique and uniform chain—we eliminate the need to create long winded advertising posts. That is a simple win. However, there is much more to TOKPIE. We link each instrument with the Price Charting tool—so that people can quickly make price predictions for the required instrument. This creates a much better and fairer pricing system and reduces miss matched pricing.
“An Order Book for each instrument is then created so that people can bargain in real time to make a trade—creating a mini auction so that the best price is achieved. We have tools for price alerts and notifications which can all be attached to each individual instrument.
“Moreover, our platform is universal in its currencies. People can buy and sell bitcoin directly from each other, but they can also buy and sell any cryptocurrency and fiat—in whatever permutation they like.
“And did we mention we charge zero fees? Localbitcoin takes a whopping 1% from every trade.
“So before you believe that peer to peer exchanges are exaggerated advertising marketplaces, check out the TOKPIE project. thank you.”
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