Trust Transfer


2020. Jul. 18. 20:49

Trust Transfer

This publication is intended for owners of crypto platforms who would like to take over some of our user base and provide them with a new home so that they can continue to trade with the ease and safety that they have gotten used to.

BitBargain was launched in 2012 and has provided a smooth trading experience to the UK market for over 8 years. The barrier to entry was high for sellers, good communication was necessary. Buyers were properly verified, fraud was prevented in most cases, problems were squashed quickly, high maintenance users were removed from the platform.

In 2021 BitBargain will close shop (due to the new regulations) and will let other businesses take over. We hope to provide our users with a smooth transition to other platforms with minimal effort, in a way that they can keep their reputation rather than having to start everything from scratch.

Starting some time before BitBargain halts (probably in November or December of 2020) we will nudge users to try out other, similar platforms. They will have a button for most compatible platforms which have implemented TTP. When the user clicks this button, they are transferred to the target site where they create a new account quickly and have their BitBargain information imported. We named this Trust Transfer Procedure (TTP for short).

To get to the point: we are giving you, competitors something that you probably didn’t expect: free advertisement and a one-click method for our users to sign up with you (or import their reputation if they already have an account). What we ask for in return: treat BitBargain users well, import as much of their trading history and statistics as possible and use it in a meaningful way on your platform, to their benefift. Read on to learn about the specifics.

We have had over 100,000 registered users, thousands were active weekly and some of them have done thousands of trades. As a trader, you may not buy or sell as much coin (or agree to a trade) with someone who is completely new versus someone who has been trading for years, trading significant amounts without an issue. That is why peer-to-peer marketplaces and other crypto platforms will likely prefer to import this type of information and display it to trading partners. If you implement TTP on your end properly, by 2021 you may suddenly see an influx of quality users showing up on your platform, increasing your volume.

Under the hood, TTP works like this:- Our user starts the process on BitBargain- We send you a request to check if you support TTP, we establish a unique token for TTP- We send you prefill data (username, email address, phone number, name, DoB)- We redirect the user to you- You ask the user to sign in or sign up, then have them agree to the import process on your end also- You redirect the user back to us, attaching an authorization code- We send you the user’s information along with the authorization code- You apply as much of the info package as possible- We redirect the user back to you, where you welcome them and display details about what information has been imported

The technical specification for TTP can be found here:

The document also includes a sample PHP script that you can use to quickly try out this feature.

Please contact us before implementing this on your end. Just give us a heads up and let us know if we can help in any way.