I have seen a number of people, who missed out on the snapshot asking to exchange some of their real ADA for tADA, to participate within the Incentivised test network.
This got me thinking about how high risk this scenario is, sending potentially large amounts of ADA, with blind faith in a stranger that the agreed amount of tADA would be returned. In most cases, having no way to identify the other party if it goes wrong… I certainly wouldn’t be the first to send.
I wanted to see if anyone has done this trade, what way around were you, what was the exchange rate and did it complete successfully, or were there any problems?
Someone recently wanted to start their own stakepool and offered to exchange, I exchanged with them at a ratio of 1:1 - I gave tADA in exchange for ADA.
I received the funds first and returned the identical amount back in tADA. As an active community member and Ambassador my reputation and position in Cardano would be compromised if I failed to hold up my side of the agreement. Therefore felt the risk had been significantly reduced if I became the person to receive ADA first.
Let me know your stories and thoughts…
As a small side note; for future, if someone wants tADA, contact me via Telegram @Lgbeano - confirm my Ambassador tag in the official channel first before private messaging me, as there are imposter accounts out there (I will not DM you first for this matter). I am happy to have this discussion