Interview With Sergey Nikitin of xcoins.io

xcoins logo

Sergey Nikitin has about twenty years of information technology experience. He holds a BS, Computer Science degree from UCSB and an MBA degree from UCLA. After graduating, Sergey was recruited to work at Microsoft. He later formed a software development outsourcing business. Sergey is passionate about cryptocurrencies and believes that they are the future of money. He wants xCoins to ultimately become a one stop shop for all cryptocurrency needs.


BitcoinDood: So what exactly is xcoins.io? I get the impression that it’s an exchange, but you guys are doing things a little differently. Could you explain a little about how xcoins.io works, and what separates you from other exchanges like say Coinbase or Gemini?

Sergey Nikitin:  xCoins is the leading destination for instant access to bitcoin . XCoins is one of the qucikest and easiest ways to get bitcoin and has one of the highest paying affiliate  programs in the world that pays in bitcoin.

We are different in two ways:

  •  From the client’s perspective, we are quicker and we accept payment methods such as credit cards and even PayPal.
  • From the business model perspective, we are a marketplace as opposed to an exchange. In other words, we do not sell bitcoin. Instead, we have users, who provide bitcoin to other users.

BitcoinDood:  Getting set up on an exchange in the U.S. can be a daunting task. Do customers have to get verified before they can use the service? How does your verification process work, and after signing up, how fast can a user begin buying and selling?

Sergey Nikitin: It takes about 30 minutes for first-time users. The subsequent transactions are instant. If you’re signing up for the first time at xCoins, you will need to upload an ID and a selfie while holding your ID with xCoins and the date written on a piece of paper.   This is then sent to our approval team that does a detailed yet rapid cross-check of necessary information.  While the speediness of our verification system is a huge advantage for new users and something very valued at xCoins, we do take security very seriously, and make sure we only approve individuals that have passed our verification criteria.


BitcoinDood: Reading over your faq, your company accepts major credit cards, as well as ACH and PayPal. Many bitcoin exchanges are leery about dealing  with credit card companies and PayPal out of fear of chargebacks where the customer disputes the charge and the credit card company refunds their money. Does xcoins.io protect its users from the chargeback problem? Also, are there any benefits the customer might receive by using their credit card?

Sergey Nikitin: The main benefit of using a credit card or PayPal is that it is possible to get bitcoin instantly, as opposed to waiting a few days for ACH (bank transfer).

The core competency of our company is mitigating the chargeback risks. In fact, we are so confident that our users, who provide bitcoin, will be protected from them that we even have a profit margin guarantee, which means that we will reimburse a user out of our pocket, if his/her profit margin falls below 50% with us. No one else in our industry or anywhere else for that matter offers anything similar.


BitcoinDood: OK, lets say I’m a first time user. I sign up on xcoins.io, go through the verification process and decide to buy some bitcoin. Could you give us a brief summary of the process?

Sergey Nikitin: That’s the great thing about xCoins!  It’s super easy and convenient.  You enter the amount of bitcoin you would like to receive and then our alogrithm does its magic.  The bitcoin instantly appears in the user’s wallet, after he makes the payment.  Simple as that.  The ease and convenience of getting bitcoin is what xCoins is known for.


BitcoinDood: From what I read, the selling process seems a little different than the average exchange as well. I logged into the site and didn’t find an order book with buy and sell walls like most exchanges offer. Could you explain a little about how the selling process works and might differ from other exchanges?

Sergey Nikitin: That is correct.  xCoins is not an exchange, we are a Peer to Peer Marketplace.  Users can give their bitcoin to other users and receive a high premium of 15% for each transaction.


BitcoinDood: I see your exchange also  offers a referral program. My readers and
I are always interested in ways to earn extra bitcoin. How exactly
does the referral program work? Do you payout in bitcoin?

Sergey Nikitin:  You can earn money in three different ways. They can refer borrowers, lenders, or other affiliates (also called sub-affiliates) to the site. The commission is calculated as percentage of the xCoins loan origination fee, which can be 5% or higher of the transaction amount. Commissions are paid instantly in bitcoin to the xCoins wallet, and all affiliate commissions are paid for the lifetime of the customer. All you have to do is  sign up for an xCoins account to start referring clients. It only takes a few minutes. No approval needed.  Then you just refer users, and once they place a transaction, you receive the commission!


BitcoinDood: Well that covers just about all my questions. Thanks for being the
first exchange to be interviewed by The Dood. I really appreciate your time. Do you have anything you want to add that wasn’t already addressed in the interview? Any company news, promo offers or special features we haven’t talked about already?

Sergey Nikitin: Glad you asked!  Now we have an ACH Payment method in select states, which allows getting bitcoin for only 1.5% fee. User can also instantly add their bank account payment method!


BitcoinDood: I always end my interviews with pretty much the exact same question. Cryptocurrency is a fairly new industry that seems to be growing by leaps and bounds every day. If you had a crystal ball in front of you, what do you think we would see in the future for
cryptocurrency in general? Any thoughts, predictions, or trends you could share about the future of cryptocurrency and the direction the industry may be heading in?

Sergey Nikitin: Sure. We will see significant changes in many aspects of our lives because of cryptocurrency and blockchain technology in general. Banks will lose the monopoly on financial services. The financial services will become peer-to-peer, such as lending for example. There will be less financial fraud! Bitcoin is irreversible, plus there will be smart contracts. There will be less other type of fraud, as important information, title deeds for example, can be stored on blockchain. Finally, all goods and services will be cheaper in the future because of cryptocurrency, as it has smaller processing fees and there are no chargebacks. So, the technology will profoundly benefit everybody.  We are living in an exciting time.


Thanks to Sergey Nikitin for taking the time to answer The Dood’s questoins. The Dood wishes him and the entire xcoins.io team the best of luck on this project and all their future endeavors.

If you’re interested in finding out more about xcoins.io you can check out their website here.

https://xcoins.io/

Disclaimer:

The Dood is currently not affiliated with xcoins.io in any way. I may become involved in the affiliate program sometime in the future.  Please do your own due diligence before sending money or bitcoin to any company. The Dood has never used this service. I met the xcoins team on twitter, we got to talking and they agreed to do an interview  If you currently use xcoins.io or have in the past, please feel free to comment and tell us about your experience. Thanks for reading and happy trading everyone!

Interview With Roberto Durazzi From The “I Love You” Token.

I Love You graphic

“I Love You” LOVE an ERC20 Ethereum Token

I recently came across this project on twitter and thought it was a really interesting project and novel use of the ERC20 Ethereum token protocol. I requested an interview and the founder Roberto Durazzi took some time to answer some questions from The Dood. This was a really fun interview to do, and I’m looking forward to watching the growth and development of this project in the future.
BitcoinDood:  Hello and thanks for taking the time to do this interview. Could you please take a moment and tell the readers a little about who you are and your relationship with the “I Love You” LOVE project?

Roberto Durazzi: My name is Roberto Durazzi, I’m the founder and developer of “I Love You” Token, I’m web developer, graphic designer, video maker and drone pilot.

BitcoinDood: I Love You bills itself as the first “Proof Of Love” cryptocurrency. Your ticker symbol is LOVE.  Could you explain a little about “I Love You” or LOVE and the concept of POL or Proof Of Love and how it relates to your token.

Roberto Durazzi: “I Love You” token tries to exploit the romantic market while promoting love between people without any borders. PoL is a play on words that seeks to capture the attention of people who are already related to the concepts of PoW and PoS. We say “Send LOVE to your loved ones. They can hold them or sell them, that’s proof of love!” because the value of cryptocurrency tends to increase over time especially if you believe in LOVE. Sending LOVE tokens to our loved ones is a way of saying “I Love You”, to say this it is enough to send them one token, but in addition we try to give another utility to our currencies, as is the merchandise trade related to the subject of LOVE. The project is in a very early stage but we hope to create a world-renowned brand and sell products such as floral bouquets, jewelry, candies, chocolates among others. The ideal would be to have our own store and accept LOVE token but the product trade with cryptocurrencies is something that has not yet been popularized. So we can start selling our LOVE products in stores that receive FIAT and most popular currencies like Bitcoin. If we managed to distribute our products in retail stores our project would be a success and this in turn would give a lot of value to our token.

BitcoinDood: I Love You is an ERC20 Ethereum token. For the most part, this is a fairly newer protocol. For those that may not know already, could you explain the basics of what an ERC20 token is and why you chose it for the “I Love You” project?

Roberto Durazzi: Ethereum platform is based on smart contracts, this smart contract have functions, the most important functions on ERC20 standard are: totalSupply, transfer, transferFrom, balanceOf, approve, allowance and the Transfer and Approval event. ERC20 tokens would represent any kind of digital assets, currencies or what you want. The ERC20 standard makes the assets more easily interchangeable and ensure they can work with Dapps adhering to the same standard. Token holders are still in full control of their assets at all times. The token contract adhering to the ERC20 standard can keep track of who owns how many tokens at any given time.

We chose Ethereum ERC20 because the Ethereum platform has great potential and is now second in importance after bitcoin, we say: “Send LOVE through ethereum blockchain, it will be there forever…” and this is what we believe, regardless if we continue the project or not, LOVE tokens will continue to exist and will continue to be exchangeable in the ethereum blockchain.

BitcoinDood: There are multiple token protocols available now. Was there a reason you chose ERC20 over some of the other token protocols like NXT or CounterParty?

Roberto Durazzi: We think Ethereum platform is a revolutionary blockchain and will continue to be number one in smart contracts. At this time the ethereum market cap is more than half the bitcoin market cap and is very likely to exceed it in the future.

BitcoinDood: So what would be some use cases for sharing and sending LOVE over the Ethereum blockchain?

Roberto Durazzi: Its use is not different from other currencies, its main characteristic is that you can tell the other person that you sent LOVE! It’s a way to show you how much you love them.

BitcoinDood: I Love You is a really new project. Where do you see this token heading in the future. Could you share a little information on your current roadmap plans?

Roberto Durazzi: Well, we only have a month that we deployed the contract, we just wanted to have a token to show love and nothing more, but in a short time we have come up with many ideas with which we can give it a lot of strength. Right now we are in a stage of “proof of concept” selling very small amounts of currency to early investors and interested people through cryptoderivatives.market decentralized exchange and we are looking for a strategic partnership that allows us to take the project to the next level.

We still have 99.9% of the currencies in our power, which is why we are not yet listed on coinmarketcap.com, our plan is to make a 5% tokens pre-sale for early investor or for a partner investor to raise funds for our advertising campaign and thus be able to make a successful 64% token crowdsale. 1% will be given in airdrop, 7% for project team and 23% will be reserved to be sold in case the value of the currency goes up much. LOVE tokens has 1 decimal user-friendly fraction with a total supply of 21 million (bitcoin symbolic quantity). If the value of each fraction becomes very high we have deployed other ERC20 tokens such as Kisses (KISS), Likes (LIKE) and Stars (STAR), all with 1 decimal fraction forming what would be Fun Token Group, this will be a big project to come.

BitcoinDood: Going through the BitcoinTalk Ann I noticed a lot of plans for merchandising. I seen a lot of talk about LOVE toys, candies, even a debit card. What are your plans for merchandising, and how will the coin tie into all this?

Roberto Durazzi: We think LOVE branding will give value to our merchandising and merchandising branding will give value to our token as in a symbiosis. We want the use of LOVE tokens to be a very fun experience that creates engagement with our users.

BitcoinDood: I know you’re currently listed on a couple different exchanges and getting voted on to be added to even more. How can readers get LOVE? What exchanges are you currently on? Any way people can get free LOVE, faucets, rains, air drops, bounties?

Roberto Durazzi: The easiest way to get LOVE is to send ETH to the cryptoderivatives.market contract and this will refund the tokens plus the ETH change in case it’s over.

BitcoinDood: That’s about all I have for questions. Is there anything that you would like to talk about that hasn’t been addressed in the interview?

Roberto Durazzi: Many cryptos like bitcoin or ethereum has many decimal fractions which do not make them friendly with the common user. I Love You token has just a single decimal fraction, this allows sending LOVE and half (1,5 LOVE) or half LOVE (0,5 LOVE) for example. I think FUN TOKEN GROUP will be a very interesting proyect too, but first I must focus my attention on I LOVE YOU and then continue with FUN TOKEN GROUP.

BitcoinDood: I ask all my interviews the same last question. Where do you see cryptocurrency in general heading in the future? Any thoughts, predictions or possible trends you see for the use of cryptocurrency in the future?

Roberto Durazzi: I have received a great acceptance since in principle, the comments of people interested in the project have not stopped arriving. We believe this will be one of the most successful tokens in the ethereum ecosystem. There are things that are in process and that I can not advance, but I feel very optimistic about this project.

Many thanks to Roberto Durazzi for answering The Dood’s questions. Best of luck to you  and the entire “I Love You” project community. This looks like a really fun and interesting project to follow.

If you would like to follow this project, or want to find out more about LOVE you can follow the links below.

Dealing With A Possible Crypto Bubble.

Thought this guy made some great points about dealing with a potential cryptocurrency bubble. I really don’t know if we’re in a bubble or not right now, it could just be the beginning of mass adoption and growth, but it never hurts to diversify and cover your own assets 😉 LOL. Anyway, some great points made in this video.

Here’s the comment I left on the youtube page:

Great points… It’s all about hedging. As the old saying goes, “Never put all your eggs in one basket”. Diversify, hedge profits, and create a balanced portfolio with crypto, stocks, precious metals, and don’t be afraid to cash out for a little good hard cash. You can always re-enter the market at another time.

The Dood Makes Feedspot’s Top 100 Bitcoin Blogs

Checking my email the other day I discovered that The Dood’s blog was selected to be included in the Feedspot Top 100 Bitcoin Blogs. I received a graphic to display on my blog, and I linked back to the website hosting the top 100 blogs. It’s a great list and if you like reading about cryptocurrency news and current crypto events, you really should check it out.

I am honored and humbled to be listed among some of the great names listed there. The list includes all our favorite news sources like, NEWSBTC, Cointelegraph, Coindesk and more. There are some great names in crypto listed there like Andreas Antonopoulos, Vinny Lingham, MadBitcoins and other great internet personalities. I honestly feel the blog isn’t worthy to be included among these names, but am truly honored that someone chose to include it in the list. I haven’t been blogging as much as I would like to lately, and I think this was the motivator I needed to get writing again. BitcoinDood.com is a labor of love and a project I work on in my spare time. I need to start making more time for writing here.

Thanks to everyone that has helped to support this project, with your comments, retweets, shares, likes and links. One of the best decisions I ever made was getting involved in the cryptocurrency space. I’ve met some of the funnest people on the internet, and learned so much from all of you. Thanks for your continued support, and I look forward to interacting with you all in the future!

You can view the Feedspot Top 100 here.

 

The 2017 Roadmap for PoSWallet

Just came across the PoSwallet roadmap for 2017. These guys are accomplishing big things. If this is your first time hearing about PoSWallet, it is an online group cryptocurrency staking wallet. Basically users pool together their proof of stake cryptocurrencies and PoSWallet stakes them in a group wallet and distributes the staking rewards to the members for participating. This is a really great way to stake multiple cryptocurrencies without tying up tons of system resources. Now instead of running a wallet for each POS (proof of stake) coin you have, you can just hodl them in your PoSwallet account and still enjoy the earnings. They currently host wallets for close to 100 different proof of stake coins.

I’ve been following this site pretty much from the beginning. I’ve watched it’s user base and platform both grow considerably. Their most recent upgrade is an on site cryptocurrency exchange for trading. Now you don’t even have to transfer your coins to an exchange, and you can trade them right on the site. I came across their roadmap for 2017, and I have to say it looks pretty impressive.

Dev roadmap for 2017 PoSW

PoSWallet roadmap for 2017

These guys are accomplishing big things, not to mention best ICO offer I ever bought into! If you’re interested in learning more about this project, you can check out these two interviews I did with the lead dev awhile back. The first link is about the PoSWallet coin, and the second one is about the staking wallet. This has been a really fun and interesting project to follow:

The Dood Interviews The Lead Dev Of POSwallet!

Interview With PoSW coin.

Interested in opening a free staking wallet, here’s a referral:

https://poswallet.com/sign-up.php?referral=TheDood