Summary
- Domain:
- exchange-fair
- Members:
- 1
- View Original Idea
Isn't it a pain exchanging money? Don't you wish you could buy that thing in pounds at a rate your dollar can stretch to?
Exchange fair is an online currency exchange that allows users to exchange currency into one that they or need.
An amount to exchange is submitted, and an exchange rate is requested. The system searches for a similar exchange or offers from other exchangefair users that approximate the exchange.
When a suitable exchange is found, users pay each other via the ExchangeFair website for the currency they require. ExchangeFair exchanges the currency at the requested rate, (possibly keeping a small cut of all exchanges or not, depending on how it is otherwise funded), and pays the appropriate user their exchanged monies.
In this way, I could buy and sell euros or dollars, and (as long as I had a bank account in the country that I own the currency in) pay to bank account the amount I require. I can exchange money at a rate that is determined by the crowd, not by banks!
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Business Champion
- _Matt_
- Location: Los Barrios, CADIZ, ES
- Last Login: 3 years, 1 month ago
The Brains behind the Idea
- _Matt_
- Location: Los Barrios, CADIZ, ES
- Last Login: 3 years, 1 month ago
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