“Stq product”: The Best Questions and Answers
Tags: Storiqa, Ture, Cryptocurrency, Stq, FAQ

You often write to us in our chats and other social media, and sometimes we get around a dozen similar questions a day! It’s pretty time to tell you about the main development news and clarify some other points — and, of course, we wait for you to ask us more!

What is the cost of an item listing on your marketplace?

We try to follow market tendencies, so we explored it again — as well as pricing formation — and also consider the average expenses a seller has when trying to sell all alone. Thus, we concluded that it will be economically viable both for us and sellers to set up the listing price of 0.03 $ or 1 STQ (the seller will have the possibility of choice).

Note that 0.03$ is the price per item page, not per item the seller has in stock, but the seller will have to pay 5% fee of an item price per each item sold plus his bank fees (if any).

For example, you have placed 10 different items on the platform — this will be 10 items pages, accordingly. Thus, you will pay 30 cents or 10 STQ per day for all these items. When you sell 5 items, you will pay 5% fee of the price of each item that is sold and all bank fees required by your bank.

We also want to remind that we have a free trial period for the first sellers.

Why have you reviewed the charges stated in your White Paper?

We are diving into the platform development and its improvement and we want Storiqa to grow being pleasing both us and you. Considering current market condition, changing the tariffs is more economically viable.

Okay, what about marketplace payment system?

We almost finished implementing our own payment system which allows making payments using both crypto and fiat currency. In this regard, there will be some changes in cart and catalogue interface: all goods will be divided into those that can be bought with fiat and those that can be bought with crypto. Cart folder will also have two different sections for fiat and crypto goods to avoid possible mix-ups.

Crypto goods might be paid instantly and without any fees using TURE wallet. Of course, you will be able to pay it in the usual way as well — using any crypto wallet. The payment system will support STQ, ETH and BTC currencies — and you choose the one that is more convenient for you, no matter what cryptocurrency the seller sells in. The platform will automatically convert the currency to the one chosen by you, it will be done at the current exchange rate. The release is expected to be at an early date.

Will you sell STQ token on the platform directly?

Not in the nearest future, at least. There will be no function allowing to buy token or have some kind of deposit directly on the platform. On the other hand, we plan to implement such function to TURE wallet. When it’s ready, it would be possible to purchase STQ with fiat currency.

TURE wallet: are there any limits for funds movement?

Yes, we have some limits. On each funds movements (both withdrawal and between TURE accounts) there is a limit of 1,250,000 STQ per day (24 hours). Good news is that this is just a temporary measure. Later, we plan that there will be no restrictions for moving funds between the owners of TURE and the withdrawal limit will be increased.

I have enough funds in my TURE wallet for making a conversion, but the app shows that this action is impossible due to insufficient funds. Why?

As TURE wallet works in testing mode, the converting function is limited intentionally. This is not a bug or an error — you can convert the currency, but try not to do that with high volumes. In the future, that won’t be a problem.

Are TURE wallet and Storiqa.com accounts connected somehow?

Yes, these accounts have an integration. The account created in TURE can be also used for Storiqa marketplace and vice versa. This synchronization can give you some useful features. ;) Imagine you have troubles with a password while logging in TURE account and you can’t reset it. There is an easy way to solve the problem: just enter storiqa.com and reset the password using the same account there. Done!

We do hope that you have read this publication carefully and found the responses to the questions you had. Stay tuned!