The digital age has made finance more accessible than ever! Banks now operate online, people can pay for purchases with their credit cards, and some spenders don’t even bring a physical wallet around anymore. However, this era of financial inclusion doesn’t exist everywhere, particularly in the Global South. Primarily encompassing Latin America, Africa, Southeast Asia, and parts of the Middle East, the Global South typically faces more economic, social, and political challenges, including a lack of financial resources. 

According to the World Bank, about 1.4 billion adults worldwide do not have access to formal banking services. In the Global South, the situation is exacerbated by high levels of poverty, long physical distances to financial institutions, low credit, high remittance fees, and the high costs associated with opening and maintaining a bank account. Fortunately, NoOnes is here to address these gaps and provide accessible financial services to the Global South powered by Web3!​​

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What is NoOnes?

NoOnes was founded by Ray Youseff with a simple yet powerful mission: to provide financial access to underserved communities in the Global South. While cryptocurrencies and Web3 offer financial solutions to these areas, many crypto exchanges are centralized, requiring significant verification while imposing high fees. On the other hand, decentralized exchanges (DEXs) are also not easy to use, especially for non-techy people. 

NoOnes fixes this issue by offering a decentralized peer-to-peer (P2P) crypto trading platform where users can trade directly with one another, bypassing intermediaries and associated fees. By allowing P2P trading and offering a wide variety of payment methods, NoOnes provides a versatile, low-cost alternative to traditional financial systems. Users of NoOnes can trade freely, setting their own offers and terms and not be hindered by excessive verification. The platform is also fairly simple to use and understand. 

Moreover, NoOnes recognizes the importance of giving back to the communities it serves. The platform pledges to donate at least 20% of its revenue from transaction fees to its community of traders through airdrops and other means, such as hiring local ambassadors and engaging with local communities. This initiative incentivizes users to engage with the platform and rewards them for their activity. 

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P2P Marketplace

NoOnes’ main feature is its P2P marketplace, which enables users to buy and sell cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). Unlike traditional exchanges, which act as intermediaries and control the trades, NoOnes allows users to deal directly with one another.

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Here’s how the process works:

• Selecting Offers: Users browse a marketplace of offers where other traders list their selling or buying prices. The platform includes filters to help users find the best deal based on location, preferred payment method, and currency. They offer a wide variety of payment methods - and any new one that is in demand can be added upon contacting support. . For example, buyers can pay through cash (Western Union, Moneygram), online wallets (PayPal, AliPay), bank transfer (InstaPay, SWIFT), e-wallets (Gcash, Maya), debit/credit cards (Visa, American Express), cryptocurrencies (USDT, USDC), and gift cards (Amazon, Apple). 
• Escrow Protection: To secure transactions, NoOnes employs an escrow system. When a trade is initiated, the seller's cryptocurrency is placed in escrow. This means the funds are held by a neutral party (NoOnes) until both parties confirm the transaction terms are met. This eliminates the risk of fraud, as the buyer receives the cryptocurrency only after payment receipt is confirmed by the seller.
• Direct Communication: NoOnes also integrates a chat feature that allows users to communicate directly with each other. This ensures transparency and enables both parties to clarify any uncertainties or negotiate terms before completing the trade.
• Trade Completion: Once the buyer and seller are satisfied, the cryptocurrency is released from escrow and transferred to the buyer’s wallet, finalizing the trade. If any disputes arise, the NoOnes support team steps in to mediate.

NoOnes also offers many other features such as  swaps, a Spot exchange, a virtual Visa card, and a partner program. 

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Low Fees and Transparent Cost Structure

One of NoOnes’ key selling points is its commitment to maintaining low fees, particularly for users in the Global South, where financial resources can be limited. The platform’s fee structure is highly competitive compared to traditional crypto exchanges. Sellers on the platform get charged a minuscule fee, while buying is always free. 

Selling through cash, credit/debit cards, digital currencies, online wallets, and mobile money always gets charged a 1% fee. Selling with gift cards comes with a higher fee of 5%. For bank transfers, transactions below $50,000 get charged with a 0.75% fee, while transactions above $50,000 get a 0.1% fee. There are also zero fees associated with selling Tether USDT via bank transfer. 

Additionally, NoOnes offers a unique feature where internal transactions (transactions between two wallet of NoOnes’ holders) are free up to a limit of $1,000 over a 30-day period. For external transactions, such as sending cryptocurrency to a wallet outside of the NoOnes ecosystem, a dynamic network fee is charged based on current blockchain conditions.

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Accessibility

To further enhance its accessibility, NoOnes offers mobile apps for both Android and iOS devices. These apps allow users to monitor their wallets and trade on the go. Additionally, the app includes features such as mobile top-ups using cryptocurrency, allowing users to add credit (load) to their phones directly through the platform. The mobile app is also designed to be simple, allowing even first-time crypto traders to use the platform with ease. 

Furthermore, NoOnes requires only a name and birthdate to increase a user’s daily trading limit to $2,000. This light verification process ensures that users can maintain privacy while still participating in the platform. NoOnes believes in one simple rule: “The less we know about you, the better.” The platform does not share, sell, or grant access to user info with any government entities. Users can view, update, share, or delete their data at any time. The power is with them. 

While many digital platforms claim to contribute to financial inclusion, NoOnes truly offers that. By specifically catering to users in the Global South, they empower users to make the most of their money and connect them to the growing world of Web3. As NoOnes CEO Ray Youseff said “My dream is to give everyone in our community a seat at the table.”, NoOnes is definitely worth checking out for both newcomers to the world of crypto, as well as for seasoned traders!

If one is looking to explore the world of decentralized finance and gain access to a variety of crypto-based services, NoOnes is the platform to get started. Whether trading, buying gift cards, or even topping up a mobile phone, NoOnes provides secure, flexible, and affordable solutions for all one’s financial needs. Join NoOnes today and take part in the age of financial inclusion!