theswapdaddy

Yes! Swapidy can be used in all 50 states.

Hey Timmyd,

Thanks for the question. We try to make the transaction process as fast as possible. As long as you ship your device the same day you do your swap, you can get your new device as fast as 2 days later. USPS Priority Mail shipping is used both ways and is free of charge. The time also varies based on location.

-Adam

Hello HN! This is Adam and Pulkit, the co-founders of Swapidy. We heard what you said the last time we launched, particularly your worries about our business model and "Honey" virtual currency. Since then, we have made significant changes tailored towards the user in mind.

We are 19 and 20 and grew up in an age when new devices get released every day. We've hated waiting for them till we had enough money to pay for them. Using eBay and Craigslist to sell our old stuff to upgrade for better things became a hassle at times with all the fees and driving around. So, we created a better alternative to getting new things.

We've rebuilt our site to ensure transparency in every transaction. You can now swap for a wider variety of products, get instantly paid in dollars instead of virtual currency, and use the service nationwide.

Yes, we will make money, but only to find ways to give you better deals than you could get anywhere else. If you're like us, and always want the latest phone, tablet or macbook, give us a chance to let that happen.

Thank you,

Adam and Pulkit

Great question!

We have a very efficient inventory system that updates on its own as someone does a transaction both when they buy and sell.

Currently, we're running out a small space where all the products are stored. As we grow... our logistics will get more complex of course.

Feel free to ask any other questions.

-Adam

Totally understandable. However, that scenario is highly unlikely.

Your currency is always worth that amount and will never change in value.

Understandable and I think your point is certainly valid.

We're testing to see what works and what doesn't right now. If you think about it, people are more likely to buy or sell if the number is higher. But we will only know if people get used to it within a matter of days.

Think about it this way... A lot of people try to sell their iPhone 4S's or 4's when the new model came out. So what did they do? They went to eBay, Amazon, Craigslist, Gazelle, etc. to sell it. Once sold, they used the money to pay for it plus the difference.

Think of that whole experience done on one site... Swapidy. You sell your stuff to us, get paid instantly, and buy whatever you want right away.

As for the remaining balance goes. New products come out all the time and more often that not, you will purchase a new product in the future, right? You can use that currency that was left over to buy the next best thing whenever it comes out. And better yet, we will always be updating our product lines. So there will always be something new to buy.

So think of it as savings in your bank that's used for something else down the road. The value is never going anywhere... it always stays the same ($1 = 10 Honey).

Let me know if you have any other clarifications I can make.

-Adam

Thank you for the comment.

First off, as mentioned in the other comments, this is not a pyramid scheme.

Your currency will always be worth the same conversion rate of $1 = 10 Honey. The value won't ever change. As for the products, we try to buy high and sell as low as we possibly can. The aim right now is to get users on board so they can see how awesome the experience is.

The reason we can buy higher than market value is because our overhead is lower than sites that pay up front cash. At the moment, we will buy new products out of pocket for you in exchange for your used product + any difference, if any. Eventually, those used products will be available to the market too for a cost lower than market value.

I invite you to try the site out and see for yourself how it works. Again, the value of the Honey never changes and what we buy your product for always remains of the value you sold it for. Whatever you buy, we will fulfill.

I hope that gives you a little bit of insight of how what we do is possible.

Feel free to ask for any clarifications.

-Adam

Well in some scenarios, there are no such products due to people clicking multiple filters in the same category.

We're working on making them better and adjusting them to different scenarios.

You're product will be added shortly and I will update this thread as soon as it becomes available.

+1

We have the conversion ratio posted on the homepage itself and want users to know what it is. $1 = 10 Honey.

Also, we are giving users more than market value on products and selling brand new products under retail. The same products would be more expensive if you were to buy them directly from the store.

Honey is sweet!

We wanted to be a bit unique and because we're not using real money to buy your stuff, we thought Honey would be the next best thing.

Honey is different than dollars so think of it as its own currency. As for the conversion ratio, all currencies aren't equal, so we wanted to differentiate a little bit.

However, I understand your confusion and will work with my co-founder to make it easier to understand.

Thanks for sharing this with us. We are looking into it now and will resolve the issue ASAP.

-Adam

Yes, but unlike a car dealership, we give you more than market value.

Hi. You are correct. Please email me at [email protected] and I'll update you on when your product has been added to our database.

Thank you for your concern. I will go over this with my your co-founder and come up with a way for consumers to feel comfortable that this won't happen.

-Adam

We charge under retail for most items and all of them are brand new in box.

On Craigslist, you have the hassle of going to pick up money and then meeting up with the person to do the transaction.

Swapidy is a b2c business. We buy stuff from you and pay you on the spot. So as soon as you checkout, you already have your currency waiting for you. You can order whatever you want immediately and we'll ship it out to you as soon as we receive yours.

There are no transaction fees on Swapidy. There aren't even any shipping costs. We generate the labels for you free of charge both for selling and buying.

So when you sell something to us, all you do is affix the prepaid shipping label on the box, and drop it in your mailbox. No need to drive anywhere.

At a business perspective, it makes sense but I think they are curious to know why the virtual currency is valuable to them.

I'm glad you brought the Gamestop example up. Gamestop gives you the option of selling for store credit or cash. If you take cash, they give you 50%. We can offer more than market value because the overhead for us is minimal since we're dealing with virtual currency. The value of the currency never changes and we're always trying to sell for the lowest amount possible to provide value to the consumer.

So certainly valid questions on here and would love to answer as many questions you have!

-Adam

Just an FYI, you can transact on the site product for product without paying a single dime (not even shipping), if your item is worth as much as the one we're selling.

Hey thanks for the message! We realize this problem and will fix it by tonight.

-Adam

Great question! We have the power to offer you more because our up front overhead (cash) is minimal.

Right now, the aim is to provide huge value to the customer by buying new and then eventually the inventory that we gather up with used products, will be available too for less than market value. We can do this because acquisition costs are low.

Does that answer your question?

-Adam

At the moment, we're not offering redemption of Honey but we may consider it in the future. The value you're getting of selling your product over market value and buying under wouldn't require you to ever take out money anyway.

Also, if your product is worth as much as a product we're selling, you won't have to pay a single dime.

-Adam

With Honey, we can offer you more instead of what Gazelle or eBay would offer you.

Ex) Instead of selling your iPhone for $400, we could give you $440 in some cases.

Does that answer your question?

-Adam

1) Thanks, will fix that!

2) The prices are generated based on current market value and are changed constantly. In most cases, our offer will be higher than most sites because we pay in virtual currency. That gives us the ability to offer you more value. It really depends on what the current demand is like.

3) With Honey, we can offer you more unlike cash where there is more up front overhead.

Did that answer your questions?

-Adam

Hi! This is Adam and Pulkit, the co-founders of Swapidy. We've been tirelessly working on this for a while and hope you'll check it out and give us some feedback. Right now we're only buying and selling limited products but we plan to expand our category line based on demand. If you're in the bay area, there's a good chance that we will hand-deliver your device the day you purchase it and it would be our pleasure to talk to you in person for a few minutes.

And the tension continues.

Awesome!