Still worried about how to teach your friends outside the circle to buy Bitcoin? Biyi.com allows you to exchange Bitcoin with one click

Have you ever encountered a scenario like this: after you introduce Bitcoin to your friend, your friend becomes interested and wants to buy some to try. What should you do next?
Go to the exchange? Oh no, I just learned a little bit about Bitcoin, and I was confused by the K-line charts on the exchange screen;
Buy privately? It’s not easy to find a trustworthy Bitcoin seller when you are new to Bitcoin.

The security and stability of Bitcoin transactions have become increasingly mature, but how to easily buy and sell Bitcoin is still a pain point in promoting Bitcoin. The recently launched Biyi.com is trying to solve this problem.

In short, BiYi.com is a third-party platform that provides free and fast small-amount bitcoin exchange. Users do not need to register, and can choose any exchanger on BiYi.com to purchase small amounts of bitcoin through bank accounts or Alipay in just ten minutes.

My first purchase took only 10 minutes and the entire process only required a few steps:

1. Click the "Buy Bitcoin" menu, fill in the amount of Bitcoin to be purchased, email address, and Bitcoin wallet address. After clicking Submit, the system will send a confirmation email to your email address.

2. Open the email, and if everything is correct, click the payment link. Transfer RMB to the bank account or Alipay provided by the platform. At this step, Biyi.com adds a reminder: Please take a screenshot of the transfer page and keep the transfer stub properly. In case of disputes, you will be required to submit the transfer stub to the platform.

3. Wait for the transfer to be completed. After a while, the bitcoins you just purchased will appear in your wallet. From clicking "Buy Bitcoin" to the amount appearing, the whole process took less than 10 minutes.

Decentralized exchange model

It is clear that Biyi.com is a third-party platform that provides small and fast exchange of Bitcoin. In the entire exchange, Biyi.com only plays the role of a platform between exchangers and exchange users, providing exchangers with the basic software network services of Bitcoin exchange stores, while the exchange is actually completed between exchangers and ordinary users.

Biyi.com's exchange service is completely free for users so far. Compared with exchanges, this exchange service may have very little risk. Zheng Hao, the person in charge of Biyi.com, said: "The exchange model is to recharge Bitcoin and money to the exchange before trading. The platform has a large amount of funds deposited, and there is a risk of being hacked, stolen, and running away. Biyi.com only provides basic services for both parties of the exchange. When users make an exchange, the exchanger and the user trade directly, and neither the funds nor the Bitcoin go through the platform. Only when there is a disagreement between the two parties will the platform intervene to conduct due diligence. Therefore, the platform itself has no funds deposited, and there is no risk of theft and running away."

In Zheng Hao's view, this is a decentralized trading model that is different from existing exchanges. In the following interview, Zheng Hao detailed the original intention of creating Biyi.com, the possible risks of the website, and his experience in digital currency as an old player.

8btc: What was your original intention for establishing BiYi.com?

Zheng Hao: My original intention for creating BiYi.com was to make it more convenient for people to use Bitcoin and to spread the concept of decentralization.
At present, the main places for buying and selling Bitcoin in China are the three major Bitcoin trading platforms. The operating model of the trading platform has been developed to date, and it has been very mature in terms of security and transaction stability, and can handle billions of RMB in transactions every day. In my opinion, the market size of Bitcoin is still in its infancy, and many people don’t know it yet. How to introduce Bitcoin to people outside the circle and promote Bitcoin better is a question I have thought about. Sometimes I talk about Bitcoin with my friends around me, and they will ask me where to buy it? How to save it? I will tell them to register an account on the trading platform, but I found that my friends are very difficult to get started. The K-line chart is full of the screen. Some friends say that Bitcoin is just a stock. To outsiders, Bitcoin and stocks are actually no different? But this is indeed the case. I was thinking that there may be something wrong with the channels for people to obtain Bitcoin, which has led to misunderstandings about Bitcoin. The revolutionary concept of Bitcoin's decentralization is not reflected through the existing exchange model. There should be another model. This model is not only user-friendly, but more importantly, it can be operated in a decentralized mode, so that the revolutionary concept of decentralization can be spread to people who have just come into contact with Bitcoin. I have been thinking about this problem, so I started exploring the Bitcoin exchange store model.

8btc: How many exchange providers are there currently? What are the criteria for selecting an exchange provider?

Zheng Hao: Because the platform has just been launched, there is only one exchanger who cooperates with us. He is a coin friend from Guangdong. He has been paying close attention to our project and has communicated with us online. He also gave us many suggestions, so we cooperated with him as soon as we launched the platform. The standard of the exchanger is that they are quite familiar with Bitcoin and agree with the concept of Biyi.com. It doesn’t matter if they don’t understand technology. We provide the background of a standard Bitcoin exchange store. It is as simple as opening a Taobao store.

What we do is similar to the free market; the advantage of the free market is that sellers and buyers can directly reach a deal. The free market only charges a land occupation fee, and there is no payment period issue. The free market administrator only judges whether it is fair or not. Sellers have their own exclusive promotion interface (although the display format is unified, the email authentication message sent during the transaction is the seller's own message, including address and bank account number, etc.).

8btc: The transaction price of BiYi.com is different from that of other trading platforms. What is the basis for BiYi.com's buying and selling prices?

Zheng Hao: BiYi.com provides the real-time prices of various Bitcoin trading platforms as a reference. The specific prices are set by the exchangers themselves in the management background.

8btc: Is the website profitable at present? What is the profit model?

Zheng Hao: We are currently relying on our own funds and are not considering external funding for the time being. Our profit model and plan are still being explored.

8btc: If the platform is not profitable, then are the exchangers profitable?

Zheng Hao: Exchangers are free to set prices. We set a guide price based on the market price (with fluctuations up and down), and exchangers can make a profit.

8btc: In fact, there are already some other tools that can meet the needs of convenient buying and selling of Bitcoin. For example, Haobit’s wallet can also buy and sell Bitcoin with one click. In comparison, what are the advantages of BiYi.com?

Zheng Hao: Good Bitcoin was created by a senior brother. It is very convenient to buy and sell Bitcoin. It has played a great role in promoting Bitcoin. The model of Good Bitcoin has given me a lot of inspiration. The concept of Biyi.com is different from that of Good Bitcoin. At the beginning, we also thought about developing our own wallet for the platform, but later we did not do it because we still prefer decentralization. We only provide basic services for various exchange providers.

8btc: Why don’t you charge any fees?

Zheng Hao: The transaction fees are not a good experience for users.

8btc: Currently, when buying and selling Bitcoin, you can choose Alipay to recharge your account. Is there any risk of being reported and having your account blocked?

Zheng Hao: We have also considered this risk, because the account is not a BiYi account, but a personal account of the exchanger. The buyer and seller are personal behaviors. The current policy is that Bitcoin can be freely bought and sold as a commodity. After the relevant policies are adjusted in the future, the platform will also make corresponding adjustments based on the policies.

8btc: After all, it involves the recharge and exchange of funds. What are the possible security risks and solutions of the website?

Zheng Hao: The exchange model is to recharge Bitcoin and money to the exchange before trading. This is very risky. The platform has a large amount of funds deposited, and there is a risk of being hacked, stolen, or run away. The exchange store model of Biyi.com is a decentralized trading model. The Biyi.com platform is only a basic service provider and does not participate in Bitcoin transactions. The transactions between the two parties are conducted directly. Funds and Bitcoins do not go through the platform. Only after the buyer and seller have a disagreement will they intervene to do due diligence. The platform itself has no funds deposited, and there is no risk of being stolen or run away. Even if the website is hacked, because the funds and Bitcoins are in the hands of the users themselves, it will not affect the safety of the customers' funds. This is the advantage of decentralized transactions.

8btc: What else should I pay attention to when buying and selling Bitcoin on BiYi.com?

Zheng Hao: There are some precautions in the FAQ of the website. You can take a look. If you have any questions, please contact customer service QQ: 2807183483. QQ group number: 477210825 or call 4000-961-360

8btc: You are also the founder of Jubidai (www.jubidai.com) and BTSfair (www.btsfair.org). Please tell us about your experience in digital currency.

Zheng Hao: OK, I want to talk about the significance of Bitcoin. I have previously written a review of the blockchain new economic blueprint. Interested friends can look for it. Translating this book has given me a lot of gains and opened my mind. In one sentence, Bitcoin marks the arrival of the blockchain era! The decentralized concept of Bitcoin and blockchain technology are far greater than the value of Bitcoin itself, just like light bulbs to the power system and email to the Internet. As people come into contact with Bitcoin, they will gradually realize the blockchain technology behind it, and this technology will bring about subversive social changes.

I have never been interested in Bitcoin speculation. I first bought Bitcoin on Huobi. The K-line charts filled the screen, and the price fluctuated every second. Even though I was not interested in speculation, I wanted to try it. I bought some Bitcoin and speculated, but in the end, I lost money. After that, I summarized my experience in the circle. At the beginning, I just wanted to understand what Bitcoin was. How did I almost become a gambler? I didn’t experience the various awesome features of Bitcoin that I learned from the information before in the exchange. I was full of ups and downs. What went wrong? I believe that many people have the same experience as me. I originally went to understand the decentralized concept of Bitcoin, but as soon as I entered the exchange, I became a leek and a gambler. All kinds of black and verbal battles began. All kinds of primitive human nature are clearly visible in the currency circle. Friends, take a step back and think about what your original intention was to enter the currency circle? I am not saying that the current exchange model is not good. I think the exchange model is suitable for veterans and people with a certain ability to resist risks. For novices, understand what Bitcoin is? There should be a better way to get Bitcoin, which is not only easy to get started, but also can spread the concept of decentralization. Biyi.com is a new exploration for novices to get Bitcoin, and we welcome friends with the same original intention to discuss together.

Remember not to let your friends speculate in cryptocurrencies, but to let them understand Bitcoin. Speculating in cryptocurrencies will only turn them into leeks and gamblers, but if they have an in-depth understanding of Bitcoin and engage in related careers, they may become the next Jack Ma!