Author Topic: [ANN] New Bitcoin & Litecoin Exchange coming soon  (Read 3172 times)

Offline DARKCHANGE

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[ANN] New Bitcoin & Litecoin Exchange coming soon
« on: May 09, 2015, 12:53:24 PM »
Hello,

First, we would like to present ourselves: We are the team of DARKCHANGE LIMITED from Preston, United Kingdom.

We are currently working on a new and innovative crypto exchange, especially for Europe, United States and Australia.

Our main advantages are:

- Easy handling & user interface. No matter if you are an experienced user or a newbie, our website is there for anyone!
- No funds held on our exchange (for security reasons: as a result no hacker can steal your coins/funds)
- Efficient & low fee structure
- 24/7 Customer Support via ticket and live chat
- Secure transaction handling: If a request seems suspicious (new IP country, different browser etc.), our system forwards the order to one of our support staff members, who manually checks and confirms the transaction.
- No verifications required. Cryptocurrencies should be free. And the user's option to buy & sell must be too.
- Simple & Easy payment methods like SEPA bank transfer, Payeer, Perfect Money and Ukash.
- International operating: Your can use our service from any country of the world.

Now it's your turn! :) Do you have an idea what we could implement into our website? Suggestions for payment methods you'd like to use to buy & sell digital currencies? Go ahead and tell them here!

Planned launch is on July 1 2015.

Thank you!

Greetings,
DC Team

Offline densuj

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #1 on: May 09, 2015, 01:50:01 PM »
I am waiting  :D

Offline losh11

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #2 on: May 09, 2015, 03:58:02 PM »
Cool, great to see a new exchange popping up. But I have a few questions?

  • Does your exchange only offer LTC/BTC and USD/BTC pairs, or are there any other currencies or crypto pairs available?
  • Do you have an API for bot trading, and or an API for exchange data - like a JSON ticker?
  • What's your company registration number? Can we verify that you are all check with legal laws? Are you registered as a money transmitter? Are you complying with all regulations/recommendations put up by HMRC - if not what? Do you have a lawyer? Basically all your legal registration numbers would be great...

  • How long have you guys been working on your exchange - if it's only been less than a year, would you mind testing security with a select pair of beta testers to check if everything is working alright.
  • Can you explain technically how your exchange's security works - in detail please.
  • Will Tor or proxy be blocked (many Bitcoin & Co's website are designed to do this as most suspicious attempts to hack or damage the exchange come from these sources).
  • What sort of encryption methods are used, is SSL all set up?
  • What's your legal operating address? And how big is the team? Names of the head/s of the 'DC Team' - real first and second names of course.
  • 2FA?

I'm sure it seems like I'm asking for a lot - but here in the crypto world, everything has to be dealt with skepticism and reviewed extremely and very carefully. I'm sure there are a lot of other questions that people would like answering, but I'd think that if you answer every question here one by one - most of it will be answered.

Offline DARKCHANGE

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #3 on: May 09, 2015, 07:54:53 PM »
Cool, great to see a new exchange popping up. But I have a few questions?

  • Does your exchange only offer LTC/BTC and USD/BTC pairs, or are there any other currencies or crypto pairs available?
  • Do you have an API for bot trading, and or an API for exchange data - like a JSON ticker?
  • What's your company registration number? Can we verify that you are all check with legal laws? Are you registered as a money transmitter? Are you complying with all regulations/recommendations put up by HMRC - if not what? Do you have a lawyer? Basically all your legal registration numbers would be great...

  • How long have you guys been working on your exchange - if it's only been less than a year, would you mind testing security with a select pair of beta testers to check if everything is working alright.
  • Can you explain technically how your exchange's security works - in detail please.
  • Will Tor or proxy be blocked (many Bitcoin & Co's website are designed to do this as most suspicious attempts to hack or damage the exchange come from these sources).
  • What sort of encryption methods are used, is SSL all set up?
  • What's your legal operating address? And how big is the team? Names of the head/s of the 'DC Team' - real first and second names of course.
  • 2FA?

I'm sure it seems like I'm asking for a lot - but here in the crypto world, everything has to be dealt with skepticism and reviewed extremely and very carefully. I'm sure there are a lot of other questions that people would like answering, but I'd think that if you answer every question here one by one - most of it will be answered.
Hey losh,

For sure I will answer all your questions:

  • Does your exchange only offer LTC/BTC and USD/BTC pairs, or are there any other currencies or crypto pairs available?

Yes, we offer USD/BTC, EUR/BTC, USD/LTC and EUR/LTC pairs. Currently there is not yet planned to offer BTC/LTC pairs. At the time we'll launch you can simply buy & sell Bitcoins and Litecoins with your local currency (USD/EUR)

  • Do you have an API for bot trading, and or an API for exchange data - like a JSON ticker?
No, right now we do not plan to offer this type of API for our exchange.

  • What's your company registration number? Can we verify that you are all check with legal laws? Are you registered as a money transmitter? Are you complying with all regulations/recommendations put up by HMRC - if not what? Do you have a lawyer? Basically all your legal registration numbers would be great...
  • What's your legal operating address? And how big is the team? Names of the head/s of the 'DC Team' - real first and second names of course.

You can verify our company informations here: http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo

DARKCHANGE LIMITED is officially incorporated with the company number 09551177.

Our head office address is located here:

DARKCHANGE LIMITED
40245 YORK HOUSE
GREEN LANE WEST
PRESTON
LANCASHIRE
ENGLAND
PR3 1PR

You can check our companies registered office by sending a letter to our main address, if you want to see our incorporation documents, feel free to send me a mail: support(at)darkchange.com

The head of our company is Ivica Moslavac (me). I am actively following the crypto community since 2011 already and now want to get an innovative own project started with my team.
Our financial and service directors are Jack N. (also working as a programmer) and Daniel W.
DC also has right now 1 support staff member which is going to work in our team to help users with their questions and to improve the security of the transactions made on our website.

Our operators and team members live across the world and speak several languages.

Right now we are not registered as a money transmitting service as the situation is not exactly clear right now how to deal with crypto currencies. There are several other companies there which trade digital currencies without licenses. But as a legal company we comply with all regulations & laws of the UK and work together with a lawyer to improve our infrastructure. In general our company complies with any request coming from authorities of the United Kingdom only. Foreign countries with a federal judge / a court order may request some information too, if there are special reasons which require us to handover data to them (international AML laws etc.)

  • How long have you guys been working on your exchange - if it's only been less than a year, would you mind testing security with a select pair of beta testers to check if everything is working alright.
We work on our exchange since nearly 6 months + the whole time of incorporations etc. and have some selected users already which are ready for testing our platform before it's launch.

  • Can you explain technically how your exchange's security works - in detail please.
  • Will Tor or proxy be blocked (many Bitcoin & Co's website are designed to do this as most suspicious attempts to hack or damage the exchange come from these sources).
  • What sort of encryption methods are used, is SSL all set up?

As our members can't deposit and withdraw from our exchange, there is no risk for users to get hacked (phishing details wouldn't make sense as there are no funds stored on the account).We offer direct exchanging from local to crypto currencies and the other way around.  2FA is right now not actively integrated as it even would not really make much sense.

Our configuration has an internal AFS (Anti-Fraud-System) which checks every transaction for example of IP and bank account's country matching. I will not name all as some of them are kept secret for security reasons.

An example is: If you register with an IP from Russia, but buy Bitcoins with a bank account in Sweden and an IP in China, our AFS will mark this order as a very-likely fraudulent transaction and a staff member will check manually and may cancel the request / asks to use another payment method or even close the account.

This are just a few of our internal security features, our exchange for example is secured by a SSL certificate from GeoTrust.

TOR is no problem at all, but "high-risk" payment options like bank transfer will be unavailable then. Same goes for public VPN's. Also mostly all transactions are then being checked manually because of our AFS.

I hope I could answer your questions! :)

Greetings,
DC Team
« Last Edit: May 09, 2015, 08:03:33 PM by DARKCHANGE »

Offline donal6343

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #4 on: May 19, 2015, 07:16:14 PM »
Based in the UK, how come you don't exchange sterling? Any plans to?

Offline DARKCHANGE

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #5 on: May 22, 2015, 09:22:30 AM »
Based in the UK, how come you don't exchange sterling? Any plans to?
Yes, we plan to accept more and more currencies while growing our services.
We want to get started with more international currencies first, such as EUR/USD and then continue implementing more local currencies, especially GBP and AUD.

Greetings,
DC Team


Offline DARKCHANGE

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #6 on: June 07, 2015, 02:24:44 PM »
We're currently discussing the conditions with a partner to issue debit cards for our user's. With those cards you can easily withdraw your crypto currencies to cash at any ATM worldwide.
You've got ideas you would like to share with us? Feel free to write them here or contact us via PM.

Greetings,
DC Team

Offline fréa inguina

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #7 on: June 13, 2015, 01:11:24 PM »
When will you be applying for regulation and authorisation from the FCA, since this is a legal requirement in the UK and until you are regulated you will for all intents and purposes be an organisation operating illegally?

Don't get me wrong, i would love to see a solid UK based exchange but it would need to be fully legit and operating legally and for this to be the case you need to be regulated by the FCA. Registering as a UK company unfortunately proves nothing as it costs very little and takes less than 24 hours to carry out with very little checks involved.


Offline DARKCHANGE

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #8 on: June 14, 2015, 08:39:46 AM »
When will you be applying for regulation and authorisation from the FCA, since this is a legal requirement in the UK and until you are regulated you will for all intents and purposes be an organisation operating illegally?

Don't get me wrong, i would love to see a solid UK based exchange but it would need to be fully legit and operating legally and for this to be the case you need to be regulated by the FCA. Registering as a UK company unfortunately proves nothing as it costs very little and takes less than 24 hours to carry out with very little checks involved.
Hi,

we're in contact with the FCA. But currently Bitcoin companies doesn't need to be regulated officially by the financial authorities.

You can also read furhter here for example: http://www.coindesk.com/bitcoin-regulation-uk/

Quote
Britain is also home to some of the world’s most popular bitcoin products and services. Despite this, the UK’s government and regulators have been remarkably quiet on the subject of digital currencies, and have left the development and adoption of digital currencies largely unacknowledged.

Quote
In the UK, the Financial Conduct Authority (FCA) is the regulator with responsibility for ensuring that financial services are provided in a way that protects consumers and maintains the integrity of the market. The FCA regulates businesses that provide financial services or promote financial services (whether retail or wholesale).

In the last year, a number of bitcoin businesses have approached the FCA seeking clarification on the legalities of operating bitcoin exchanges.

However the FCA has not offered any constructive guidance or comment on the regulation of digital currencies. In fact, the FCA has gone as far as stating it does not regulate digital currencies and has no intention of doing so. The result is that bitcoin businesses in the UK are not obliged to register with or be authorised by the FCA.

We always comply with the laws of the United Kingdom and are working together with authorities in order to fight against AML. We've got a very good AFS and are working together with solid banking partners (eg Payeer), which also require their user's to verify in order to comply with the international Anti-Money-Laundering laws.

Also we would like to protect the privacy of our user's. We do not require more informaions as we need to and have limits which apply to our customers.

Greetings,
DC Team

Offline fréa inguina

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #9 on: June 14, 2015, 02:04:28 PM »
Thanks for the reply. I applaud your commitment to ensuring a secure environment for users. Unfortunately i wouldn't accept the information provided by CoinFire as legally founded. If you look here you will see all activities that require FCA authorisation: http://www.fca.org.uk/firms/about-authorisation/do-i-need-to-be-authorised
Included on that list are quite a few activities that apply to an exchange (Hence why there are little to no UK based exchanges for crypto currencies). Also CryptoCurrencies are covered by the FCA under the Electronic Money Directives which is what Bitcoin and Crypto are covered as here in the UK.
I am not trying to cast doom and gloom on your project but i would hate to see your exchange shut down by UK authorities and users funds be tied up in a very expensive and time consuming legal process. I would encourage you to seek the legal advise of a Regulatory advisor based in the UK as it is not an easy process but can be done with the right dedication.

Offline DARKCHANGE

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #10 on: June 15, 2015, 02:58:50 PM »
Thanks for the reply. I applaud your commitment to ensuring a secure environment for users. Unfortunately i wouldn't accept the information provided by CoinFire as legally founded. If you look here you will see all activities that require FCA authorisation: http://www.fca.org.uk/firms/about-authorisation/do-i-need-to-be-authorised
Included on that list are quite a few activities that apply to an exchange (Hence why there are little to no UK based exchanges for crypto currencies). Also CryptoCurrencies are covered by the FCA under the Electronic Money Directives which is what Bitcoin and Crypto are covered as here in the UK.
I am not trying to cast doom and gloom on your project but i would hate to see your exchange shut down by UK authorities and users funds be tied up in a very expensive and time consuming legal process. I would encourage you to seek the legal advise of a Regulatory advisor based in the UK as it is not an easy process but can be done with the right dedication.
We are in contact with the FCA and sent out a mail to them already. I'm going to update once we received an answer (mail was sent over 2 weeks ago, guess I will send another one).

You're of course right, but we've contacted several other UK exchanges and asked them how the laws in the United Kingdom are currently dealing with crypto currency firms and 3 from 4 of them responded that no regulation is required.

Greetings,
DC Team

Offline fréa inguina

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #11 on: June 17, 2015, 12:14:21 PM »
Hi DC Team,

I took the liberty of calling the FCA myself yesterday and to my surprise you are correct that there is no need for you to register with them provided you are not holding Fiat deposits directly and not using them for investment purposes. CryptoCurrencies are unregulated at the moment and there is no plan for consultation. Completely suprised me as that essentially means you could run any kind of operation you like and provided you in someway shape or form utilise Crypto you do not require authorization. 

Good luck with your project and keep us updated.

Offline DARKCHANGE

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #12 on: June 18, 2015, 12:01:31 PM »
Hi DC Team,

I took the liberty of calling the FCA myself yesterday and to my surprise you are correct that there is no need for you to register with them provided you are not holding Fiat deposits directly and not using them for investment purposes. CryptoCurrencies are unregulated at the moment and there is no plan for consultation. Completely suprised me as that essentially means you could run any kind of operation you like and provided you in someway shape or form utilise Crypto you do not require authorization. 

Good luck with your project and keep us updated.
Sure, thanks for your message.

Greetings,
DC Team

Offline losh11

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #13 on: August 23, 2015, 09:50:00 AM »
Hey, what happened to your exchange launch?

Offline DARKCHANGE

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Re: [ANN] New Bitcoin & Litecoin Exchange coming soon
« Reply #14 on: August 25, 2015, 04:55:35 PM »
Hey, what happened to your exchange launch?
Hi,

Our exchange launched already some time ago :)

Please check out our announcement thread: https://litecointalk.org/index.php?topic=26208.0

On Bitcointalk we received lots of feedback already:  https://bitcointalk.org/index.php?topic=1103396.0

Yours,
COINBAX Team