CryptoMediaNetwork Why would you sell them right back? That would not make any sense for you to do that (that would be like buying BTC on coinbase and selling it right back). There are many reasons to use WSD such as

1) A cash option for crypto traders. When the price of BTC, XLM etc is high, you can sell the crypto and buy WSD, which is always equal to $1 USD, so you can then use it to buy back into your cryptocurrency when the price falls

2) A currency that can be used for payments and purchases. Merchants do not want to accept BTC, ETH, XLM etc because they do not want the volatility. WSD can be accepted worlwide in seconds (due to it being on the Stellar network), but with no volatility at all

3) WSD is also the on/off ramp directly into the Stellar network. You can buy WSD in fiat, and then exchange it into XLM. You can do so on the SDEX (as you have noticed) and also directly through our White Wallet platform (think of this as GDAX=Sdex while White Wallet=Coinbase. You can also easily turn your XLM into WSD and then cash out with a US or international wire in USD. Before this you would have to trade for other crypto and then use coinbase, where you were limited to $500 to start and even top traders cannot get more than $50,000 in withdrawals. WSD purchases in fiat and redemptions are unlimited.

In regards to the order book/liquidity, it's the same thing in BTC or stocks, there is a spread between the buy price and sell price (same on Coinbase, Bittrex et), and that spread is set by market participants, not by Bitcoin, the company whose stock you're trading, or in this case us. Going forward, of course there will be more liquidity to the system as more market participants enter it. You are in fact free to place your own orders to buy/sell WSD at any price you wish.

      TheWhiteCompany
      I understand all of that! But as a trader i wouldn't want to wait for XLM to go up 47 usd to break even on a trafe of 4000 XLM. That kind of spread is unheard of. You need to bring that spread down. If i trade 4000 XLM with EURT the spread was mush much thinner. I could sell 4000 and buy back 3970 back straight away. So if i was making a day trade i would only have a thin spread to cover and could cover it with minimum risk. To trade your USD, the risk is way way too high for a trader. Now i hope you understand this too.

      I hope in the future the spread will be thinner, but unless you drop the spread then whos going to want to use your usd to trade and take on that risk when you can just use USDT on binance with very little spread?

      At the moment there is no good option for traders on Sdex and its a shame. I got exited when i heard about your token until i seen the spread.

        cryptobrant You are exactly right. Any new market the spreads are very high, until more people enter it. Remember even last year, the spreads btw BTC prices were very high and were actually quite different on various exchanges. As more people use exchanges in general (and SDEX in particular), there is arbitrage and frequent trading going on that adds liquidity.

        @CryptoMediaNetwork As for USDT, I would be very scared to use that! They have not shown that they have any $USD on deposit since September. So any day it can just disappear. If you are doing HFT and getting in and out of XLM/USDT pair quickly, then you should be fine, but if you hold it, you risk losing everything. And of course you cannot buy USDT with $USD, nor can you redeem USDT into USD.

        WSD is designed to be the on/off ramp into the Stellar ecosystem, which currently does not exist. In the long term, we feel that is can be the entire basis for a cryptocurrency economy, built on Stellar, by enabling transactions worldwide between everyone and promoting the growth of Stellar as a protocol. We certainly believe that soon it will be a great option for traders like yourself as well, with more liquidity to satisfy your short term trading needs.

            cryptobrant Yes, we are looking at credit cards. The biggest thing is we need to avoid fraud, so that people do not pay with stolen credit cards etc. We are working with some merchant processing partners that have some enhanced systems to be able to detect and avoid fraud like that.

            One thing to remember is that credit card fees are quite high, because the "merchant" (Coinbase or White Wallet) has to pay them. So while we are able to accept WSD purchases with USD fiat with 0% fee for wires, we would have to charge relatively high fees for credit cards. But we do realize that for some people, the convenience of using a credit card is well worth the fee.

              TheWhiteCompany
              I totally agree about tether but i dont hold it for long, so dont worry about it. I look forward to when your coin has liquidity so i can use it to trade, because i will use it rather than tether. I would like to be able to get in and out the markets without friction.
              Im not sure if a lot of the FUD about tether is to keep people from cashing out of crypto while the markets crash is going on.

                Just wondering, why did you decide for the ticker symbol WSD instead of USD?
                Also, according to your page the amount of WSD is higher than USD deposited. Why's that?

                  inative
                  The reason why we went with WSD is so that it's differentiated from the other USD assets out there. Since those are not backed by anything and you cannot buy them with USD fiat or redeem into USD fiat, we wanted to make sure people recognize our name as different.

                  You have a sharp eye regarding the WSD/USD on our website. It is pulling live API from our bank accounts so the balance changes intra-day (and is audited by an independent CPA firm on a monthly basis). There are occasionally some times where someone redeems WSD and we send them the funds, then the WSD is burned. So for the time time between funds being sent and the WSD burn, there will be a small imbalance. This typically happens intra-day so at the end of day WSD/USD will reconcile. It may also happens in reverse (i.e someone deposits USD to us, and then we issue WSD). Since we don't issue WSD until the fiat clears, that time lag may show more USD on deposit than WSD issued. Of course we could just have an attorney look at our accounts once every 8 months like Tether, but we would rather be transparent.

                      a month later

                      What the news on this project now IBM and stronghold are bringing a new USD stable coin to the network?