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Hi, im just wondering is there any possibility to deposit fiat currency, and what is the way that users can also deposit money, and then change between etc euros, usd and other crypto coins?
Hello Richard,
No it is not possible to deposit fiat currencies. This is covered in the FAQ.
You can let users exchange between some cryptocurrencies now using the ShapeShift extension and in the near future users will be able to exchange between any cryptocurrencies you choose using the upcoming exchange extension.
But fiat is not supported.
kind regards
Alex
coin payments supports fiat via Bitstamp, wouldn’t that be a way to archive it?
Not really.
How would that work?
Remember that coin adapters are an abstraction. The actual underlying wallet can vary.
The only way would be for a coin adapter to integrate a fiat payment gateway and present a EUR coin to the plugin, announcing deposit transactions whenever there is a payment.
regards
It is listed here as EUR.Bitstamp
https://www.coinpayments.net/supported-coins-fiat
here a short description
https://www.bitstamp.net/article/bitstamp-launches-eurusd-trading/
Wouldn’t that mean EUR.Bitstamp / USD.Bitstamp tokens are always exactly worth as much as the fiat?
Actually you won’t have real EUR / USD, but it’s as closest you can get with a minimum afford?!
Correct me if I’m wrong
The plugin does not interface with Bitstamp.
Everything is possible with enough work, but the information you posted does not really help. And it does not address my point that the plugin should work with all coin adapters, not just one wallet or another.
The way to support fiat would be as I described in my previous post, but it does not make sense at the moment since the trading platform is not yet released.
Once the trading platform is released and is stable, there could be maybe a PayPal adapter or or an adapter that brings in any other fiat payments processor. That could work. But with my current work load I do not realistically see this happening in 2018 unless someone else does it.
This is why I have explained in the FAQ that I will not support fiat. It is a common request, and I do not want people to erroneously expect that I will release a fiat adapter any time soon.
Hope this answers your question.
It does! thank you for your explanation.
Sorry I posted the wrong link:
https://www.coinpayments.net/supported-coins-ripple
As you can see, there are already fiat tokens on the coinpaiments api/website:
Canadian Dollar = CAD.Bluzelle
Euro = EUR.Bitstamp
British Pound = GBP.Bitstamp
United States Dollar = USD.BitstampYou already support “Canadian Dollar (CAD.Bluzelle)” in the coin options of this adapter.
Why isn’t EUR.Bitstamp / GBP.Bitstamp / USD.Bitstamp be supported?
Does the coinpayments api won’t let you create a wallet for them?I thought 1CAD is = 1 CAD.Bluzelle – is that not correct? couldn’t find infos about it.
So this way a fiat could be easily deposit in an individual wallet in an easy way.
Only need a paypal buy option for these tokens then.
Option 2:
1. wallet plugin + coinpayments adapter is installed.
2. Install the plugin https://mycred.me/
3. Create own USD token with mycred (only usable on your page)
4. User buys USD token on your site (you keep the $ on paypal account)
5. user can exchange tokens as wanted to other coins (here needs some work to be done that pays the exchange from the deposit paypal account and reduces it from the user tokens at the same time)
Hello,
I have not replied earlier to you because I am extremely busy at the moment.
To answer your query, I am not considering option #2 as it is way too complex. The plan is for me to release the long awaited exchange extension as soon as possible. This is the first priority. Then, if people want to enable currencies such as USDT or TUSD, they will be able to exchange between fiat and crypto.
The plugin will not provide a way to directly purchase cryptos with fiat as this is out of scope.
kind regards
Alex
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