Bro, do you sell crypto ?

Mr. Brandon is planning a trip to India. Instead of buying Indian Rupee from the money changer, he proceeds to buy cryptocurrencies using cash (Malaysian Ringgit). He then travels to India, contacts a willing buyer from a match-making website to sell the crypto for Indian Rupee. Brandon and the buyer meet at a Starbucks where the former will transfer the crypto to the buyer using crypto-wallet app who in return pays with cash (Indian Rupee).





What are the benefits of having this workflow?

1.) For Brandon
  • More option for acquiring of foreign currencies which are usually out of stock - i.e Indian rupee.
  • Transfer of hefty sum of money to a foreign country
2.) For the seller.
  • Earn commission for extra income.
  • Better customer service - hotels, travel agents, taxi drivers to provide value-added services to customers.
Critical Success Factors
  • 1-for-1, no extra costs.
    For instance, the platform should allow Mr. Brandon to buy 16.94 Indian rupees using 1 Malaysian ringgit from start-to-end.
  • Users of the platform should be given loyalty points.
    The points should be eligible for perks such as gifts exchange etc.
  • The platform and app must be popular and must not be banned by the country.
  • The buyer of the crypto from Mr. Brandon must also be able to use it for good - i.e do the same while traveling to another country for holiday.
Legality
  • Is it illegal for a consumer to buy crypto using cash?
  • It is illegal for a consumer to sell crypto to consumers?
  • It is illegal for a business to buy crypto from customers?

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