SafeX Exchange Question

On the SafeX Exchange will you be able to sell safecoin’s for U.S. Dollars or just for bitcoins? If you can only sell them for bitcoins, will you be able to send those bitcoins to another exchange such as MasterXChange?

@stonesfever At this time there is not a formal way to sell US for safecoins on safex; Additionally, we’ve partnered with so you could trade any of the coins offered on for safecoin, as well as user defined items (this lets us rapidly integrate with most of the popularly used cryptocoins).

If a person defined an item as US dollar they could effectively sell the item called “US Dollar” though I have not yet taken action on an escrow system just yet, like in


bitcoins, yes. probably dollars “soon”


If SafeX ever supports fiat currency how will it account for “know your buyer” laws considering for the decentralized nature of safecoin?

With the shapeshift partnership it would allow for easy exposure to stable cryptocurrencies like BitUSD which is like having dollars. Moving into fiat would then just be a case of converting it through a gateway or moving it into BTC to sell on a bigger exchange.


Why not go to Poloniex? Last I read, MasterXChange exchange transactions are manually processed, which is not scalable.

The exchanges are not manually exchanged, but people do have to set the value that they are willing to buy/sell at. Your confusion probably stems from the fact that MasterXChange manually processes withdraws in order to insure that an attacker can’t try to withdraw everyone’s coins into their own account without it being noticed.

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“Safex Founder Daniel Dabek talk,s future of the internet” by Tech Team Tribe via #spreaker … this should clear up tons of questions.

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