Fiat Gateways on Nash

Just got a few questions regarding fiat gateways:

Will fiat gateways be available during beta or after the full platform is released?

What digital currencies will be available initially?

If the multi-asset extension wallet with support for BTC, ETH and other chains is planned for mid 2019, does that mean no BTC fiat gateways until then?

Will it be possible to use debit/credit cards?

What’s the different daily limits? Lowest --> Highest

Who decides the fees for fiat gateways? Nash, the providers or both?

For potential fees incurred, will NEX token holders get a share of it?

How long is the process from pressing the purchase button to actually receiving BTC in the wallet? Considering Nash is non-custodial will BTC be sent through the blockchain or will state channel protocols be utilized?

Balder’s question: How many fiat currencies are supported at launch?

Would appreciate a response @canesin @ethan

#TrustYourselves :grin: :nash_token: :nash_n:

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Very curious on the BTC myself. I would hope we will be able to buy BTC via fiat gateways even if we can’t trade it with other tokens yet. :crossed_fingers:t4:

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Just got a few questions regarding fiat gateways:

A few ? :laughing:.

Will fiat gateways be available during beta or after the full platform is released?

I believe the more correct form of this question would be: “will fiat gateways be already available on the community testing?”

A: It will not be available to all users on the community testing, we will open to a few to test each supported region provider. As we get more comfortable we will expand access, this is the pattern we will use for absolutely every integration.

Beta definition is not a simple community/public access.
See this for discussion: How long will the beta last?

What digital currencies will be available initially?

We currently already have BTC and ETH partners implemented and are working on getting NEO support.

If the multi-asset extension wallet with support for BTC, ETH and other chains is planned for mid 2019, does that mean no BTC fiat gateways until then?

No, it doesn’t mean that. BTC at the funds management level is the minimum requirement for the BTC gateways. The extension is a tool for the payments and dApps API solution, we believe focusing on the funds and trading platforms is the correct use of our resources for now.

Will it be possible to use debit/credit cards?

That is dependent on providers and user location.

What’s the different daily limits? Lowest --> Highest

That is dependent on providers, user location and AML/KYC situation of the user/provider relationship. Can be $100, can be $1,000,000.00 is not defined by Nash.

Who decides the fees for fiat gateways? Nash, the providers or both?

The providers, Nash doesn’t charge fees on gateways. Our goal is to offer the cheapest possible prices on gateways so a overhead from Nash is in direct contrast.

For potential fees incurred, will NEX token holders get a share of it?

No, fees for NEX holders are those running on the matching engine. The providers in general only support very liquid tokens, if a user wants to sell or buy a unsupported token by the provider he will have to trade it on the exchange, that will collect fees at the matching engine.

How long is the process from pressing the purchase button to actually receiving BTC in the wallet? Considering Nash is non-custodial will BTC be sent through the blockchain or will state channel protocols be utilized?

Sent through the blockchain, so depending on the method of payment is payment confirmation time + 6 BTC blocks (1h). So for example if a user uses ACH on a connected account on US provider that should amount be close to 1h.

Balder’s question: How many fiat currencies are supported at launch?

Launch date is not defined so this is not a question we can answer, if you instead ask the question: “How many currencies will be tested with the community beta ?”

A: USD and EUR.

Would appreciate a response @canesin @ethan

No problem, always good to clarify. Just a note that there is no need to tag me or Ethan, it doesn’t really changes the speed of reply.

Best,

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Slow and piecemeal release of products to a gradually expanding user base is a very logical approach to minimise impact of bugs on users and quick remediation – much better than the, “Get it out! Get it out! Get it ooout!!” approach taken by others, including some very large and well know companies (often bound to fail).

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Great to see a well thought out.progressive implementation and rollout strategy :+1:
Where do NEO pairs fit within the strategy?

@muggleman We will strive to have base layer tokens supported whenever we can. That simplifies a lot dapps usage.

Will fiat partners also offer the ability to “cash out” as it were? If I wanted to change some crypto into fiat?