Storspay Exchange or a P2P app? A decision guide for businesses and traders
Five questions that decide it: who is on the other side, where the local currency moves, what paperwork you need, how fast you need to settle, and what the spread is worth to you.
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The short answer. If you need a verified counterparty, your own business bank account on the local-currency leg, a statement your accountant accepts and instant settlement, choose Exchange. If the tightest spread is all that matters and you accept strangers and screenshots, choose the app — and we say so plainly.
Question 1 — who is on the other side?
A P2P app: an individual with a rating. Exchange: a business that passed KYB and an enhanced review, named on your statement. If you are a business, the second answer is the only one your auditor will accept.
Question 2 — where does the local currency move?
On an app, between personal bank accounts of strangers — the pattern banks in Nigeria and Kenya now freeze. On Storspay, through Get paid and Run Payroll, always to or from your own business account. The trade itself never touches local currency.
Question 3 — what paperwork do you need?
A trade history, or an invoice-linked deposit, a statement line per trade with the counterparty’s business name, receipts for both sides and a cash-out line with the rate and fee? Businesses need the second; traders operating as a business increasingly do too.
Question 4 and 5 — speed and spread
Exchange settles the instant you confirm, with no payment window; an app settles when the seller releases. On price the app wins: spread-only venues beat our 0.5% taker fee and 0.75% convert. Decide what the difference is worth to your business — for most it is less than one frozen bank account.
How it works, in four steps
- Apply once. A verified business on a paid Storspay plan applies from the Exchange tab: a few questions about what it will trade and why, a one-time identity check for a director, the wallets it plans to use. Reply within one business day.
- Receive or convert. A client sends USDT or USDC to the address in your business name, or you convert dollars or euros from your balance at 0.75% all-in.
- Trade or hold. Keep the balance, convert between USDC and USDT at 0.25%, or trade with other verified businesses on the P2P market — taker 0.5%, makers free, settled the instant the buyer confirms.
- Cash out or send. Pay your local bank or mobile money the same business day at 2% all-in, or send to any wallet address for the network fee only.
What it costs
| Step | Fee |
|---|---|
| Receive USDC or USDT | Free |
| P2P market — taker | 0.5% (makers free) |
| Convert US dollars or euros ⇄ USDC or USDT | 0.75% all-in |
| Convert USDC ⇄ USDT | 0.25% |
| Send to a wallet address | Network fee only |
| Cash out to a local bank or mobile money | 2% all-in (1% · min US$2 to India, Indonesia, the Philippines and Thailand) |
Who this is for — and who it is not for
Businesses, and a sole trader counts: every movement is a business transaction with an invoice, a contract or work delivered. Traders are welcome as businesses and should expect what the page says plainly — verified counterparties, instant settlement and a cash-out to their own business account, not the tightest spread on the internet. Personal accounts, gifts and family transfers are not what this is.
Keep your invoices and statements for your records and ask a local accountant how income in digital dollars is taxed where you live.
Read next
- Storspay Exchange — hold, convert and trade digital dollars
- Digital dollars for African businesses
- Storspay Exchange vs P2P exchange apps
- Can a freelancer hold USD, EUR, GBP or CAD?
Storspay Exchange is in early access — apply from the Exchange page. Fees and availability are as published there on the day you read this.
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