Introduction

We are delighted to launch yet another project in Steemalive community. We call it StrongEx Hub. We hope that this project will help both new and old members of SteemAlive to buy or sell Steem and Tron within the community, utilizing the crowd we are building. Here is what you need to know about StrongEx Hub.

What is StrongEx Hub

StrongEx Hub is a solution to efficiently sell or buy the three cryptos we earn on Steemit - Steem, Steem Dollar and Tron. We coined the name of this project as follows:

Strongex Hub
S stands for Steem
tron stands for Tron
g is there to make the name easy to pronounce
Ex stands for Exchange
Hub is defined as the center of a Network or Activity.

So with StrongEx Hub, we want to utilize the growing number of active members we have on SteemAlive community - most of whom are from Nigeria. Through this Network, we can easily buy or Sell Tron, Steem or Steem Dollar between our members. Someone might have need to buy Steem or another person might want to Sell. So basically, StrongEx Hub will connect the buyer to the seller in a secure and efficient way.

Why do we (SteemAlive) need StrongEx Hub

There are several reasons why this project would be useful to SteemAlive members. COnsider the following reasons:

1. Buying Steem or Tron easily: As a community we usually engage in Steem Power up events. During this time, many of our members that do not have much knowledge of cryptocurrencies struggle to buy the Steem the need to power up. Basically, @focusnow has been purchasing the cryptos from Poloniex for them. At other times too, someone might have an urgent need to sell their Steem or Tron. In these and other cases, a P-2-P network of traders can be very useful. So StrongEx Hub will provide that platform to assist anyone to buy Steem, SBD or Tron easily.

2. Selling Steem or Tron easily: Anyone that is willing to sell their Steem, Tron or SBD can easily find verified buyers in StrongEX Hub. This will make it so easy to trade coins easily within the community we have grown.

3. No Network fees: Another advantage of this community is that when we trade cryptos in other platforms, we loose some money to exchange fees. But with this P2P exchange hub, we are trading directly with our members and no funds would be lost as transaction fees.

4. Trading directly in local currency: This is another cool and important advantage. As there are very few platforms that trade cryptos directly to Naira (Nigerian cureency), this service will bridge that gap. So there would be no need to buy bitcoin first, before exchanging it to Steem.

5. @focusnow has been helping a lot of SteemAlive members buy or Sell their cryptos. The chat below shows 4 transactions by him in the last 6 days. So its time to create a proper channel for it

There are could many other advantages of having a P2P exchange network like StrongEX Hub. We believe that as this project lifts off, we will see more uses to it.

Services Available under StrongEx Hub

There are two major Services that StrongEX Hub will offer. There are

1. P2P crypto trading.
2. Micro Loan Service.

P2P Crypto Trading

This is the main service that will be offered by StrongEX Hub. Verified buyers and sellers on the platform are able to trade crypto for crypto, or crypto for fiat. This efficient and readily available medium for exchange of value will make it easy for any members to obtain what they need within the community.

How will P2P Crypto trading work?

1. A verified buyer or seller creates a trade by announcing within the group (on Whatsapp), that they want to buy or sell a certain amount of crypto.
2. Verified members that are interested to do business chats with the trader and agree on Price.
3. SteemAlive which will serve as Escrow will be notified of the trade. The Seller sends the crypto to @safunds, an account managed by SteemAlive for this purpose.
4. SteemAlive confirms receiving the fund and instructs the buyer to send the funds (or crypto) to the seller, after which SteemAlive will release the cryptos to the seller to complete the trade.

Note: In a situation where there are no willing traders available to do business, SteemAlive will take up the trade and execute it.

Micro loan Service

This is the second service that will be available to verified members of the hub. We want to use this service to assist our members that have urgent need for fiat or crypto. We will give out small loans, still utilizing the crowd we have. This service is useful because there are times when our members are not online because they cannot purchase data or buy fuel to power their devices. There are still other times when they have urgent personal problems and they need someone to borrow Steem, Tron, or fiat from. In such a case, they can run to the Micro loan and obtain some financial assistance.

The main aim of this micro loan service to help our fellow member in need, and not to make big profit from rendering assistance. We also aim to discourage our members from powering down their SP because they want to solve a small need. With the loan service, they can get small financial assistance and pay back later as agreed.

How will Micro loan Service work?

Basically, the main aim of this service is to provide loan in crypto or fiat. The person in need can announce that they need a particular amount in crypto or fiat, and state when they are willing to pay back. Anyone interested to assist will contact the person in need and agree with them. They can give the loan with or without interest. If they choose to add interest to the loan, it should be a single digit (9% or less).

In the absence of a willing loaner, StrongEx Hub can offer to assist if there are funds available to do so. We can also crowd-fund the loan to make it easier. 2, 3 or more persons can contribute small amounts to assist the person in need.

Terms of Service for StrongEX and plus other details

1. Escrow: StrongEX will be the middle man between the transacting parties, especially in the case of P2P trading. This will ensure that transactions are performed in a secure manner

2. Member Credibility: Each time a buyer completes a trade as agreed, they have their credibility score increased by 0.5. Any defaulting in doing as agreed will result in a reduction of credibility score. A small credibility score means the member may not be approved to do big transaction or any transactions at all. All verified members of the hub will have a credibility score of 1.0.

3. Weekly Trading Chart: We will make a post once a week to show the activities going on inside the hub and their status. The post will also feature our verified hub members

4. Monthly bonus for members: If funds are available, we will at our discretion, reward members of StrongEx hub that support the project in one way or the other.

How to become a member

We will have membership requirements for the two services under StrongEx Hub. The following requirements apply to both P2P trading and Micro loan Service:

1. Members must be known and active subscribers of SteemALive community
2. Must have been active on SteemAlive for at least 2 Months.
3. Must have published consistently (at least 3 Posts per week) for 1 month.
4. Must have at least 100SP.
5. Membership to SteemAlive community and StrongEx Hub could be lost if someone acts fraudulently or refuses to fulfill the terms of agreement for a trade.

This project require funds to even launch and we are going to rely on your generous donations to kick off. So intending members that want to join StongEx Hub must donate at least 5 Steem to join P2P Trading and 5 Steem for Micro Loan Service. These membership donations are one-time and will assist us to run the project from the start.

Once anyone fulfills these requirements, they are added to the StrongEx Hub Whatsapp group. We also reserve the right to add further requirements as the need for them arises.

Conclusion

We hope that this project succeeds and assist us in pushing SteemAlive and its members to greater heights. We are really optimistic to see how this turns out.

Ideas do not come out fully formed. So we are also open to suggestions from the community and anyone interested to help us improve StrongEX Hub. As time goes and we see how it turns out, we will continue to make changes.

Thank you @steemcurator01, Steemcurator02 and @stephenkendal for always suporting Steemalive.

Written by: @focusnow
For: @steemalive

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