The general functionality of [login to view URL] should be maintained as there are a lot of useful feat
ures. However this website should improve upon an existing product and offer something better.
The home page should function as a quick buy page (see [login to view URL]). There should be a choce
to set the mode to buy or sell and then a choice of what method would be prefered as well as
to be able to chose whether to be agreeing a trade under a currency amount or a BTC [login to view URL]
s page should choose the best offer (lowest rate fo for buying, highest rate for selling) with a smal
l profile of the seller to give a quick preview. The chosen seller should be the cheapest, when mult
iple offers are avilable at the same price a small calculation should be made to randomise chance
but to attempt to spread the value of trades each user at the lowest price. Two small buttons on
the user profile view would be useful, one to refresh the price and the other to change to another
seller.
The user should be allowed to set specific requirements for buyers, so a minimum amount of coin
may need to be purchased for rate 1 and certain feedback for rate 2 but rate 3 is available to ev
eryone. This will help users to manage their own risk when it comes to payments and frauds, requi
ring a small premium to provide incentive for new buyers to utilise the service. Trades may be aut
omatically accepted under certain conditions, else may require the seller to manually accept the trad
e and start the trade process. The seller should be able to accept and cancel trades as they deem
fit. As such a manual rating value should be allowed to be assigned in the admin menu to increase
or decrease the probability of certain trades. But also there should be an option to allow or disall
ow sellers, who will manually preview trades before they start, to be seen on the homepage quick
buy/sell form.
Once the trade is initated a trade page will need to be shown. For selling coins the details of the
wallet and an easy to use QR barcode could be generated. For buying coins the relevant details sh
ould be shown, for example the bank account details. A countdown will begin and from this page t
he buyer will be able to mark this as payment sent. There should also be another button, to cance
l the [login to view URL] trade is placed into a canceled state, not deleted from records, if thetimer runs out
and the seller can manually complete the sale or the buyer communicate if this payment window
was missed.
Next is the seller to confirm they have recevied the funds and then the trade will be completed an
d payments released from escrow. If the trade does not complete the trade enters a dispute state,
requiring communication from both parties and a manual review of the trade.
There should be an API available to allow for external use of data, such as offers etc. but also to
allow for future development of, for example, a mobile app. The trade process should be able to b
e performed through an API system, with an automated process available (the API could call for a
bank class file (specific bank files for specific banks) and if the bank finds the trade, check the amo
unts and name match and then complete the trade.
There should be an easy to use admin system in the backend. The ability to manage users, mange
escrow and manage payment methods as well as see useful statistics about the site should be avail
able. There should be an easy way to add, maintain and remove payments. The timers should be a
ble to be changed in the admin menu, with different timers for each payment method for each of
the different stages. The fee should be set within the admin panel. All trades, even cancelled ones
(no trade is automatically deleted - a full history is made, even if the trade is cancelled) should be
stored and accessable.