How does TradeQoin work?
As a TradeQoin entrepreneur, you sell your products or services to other entrepreneurs in the TradeQoin network. Naturally, these entrepreneurs also sell their products and services to you. You pay each other with the TradeQoin. No small change, no bills – just digital currency, linked to an online TradeQoin bank account. The math is super simple, too: 1 TradeQoin is worth the same as 1 Euro
When you sell something to another TradeQoin entrepreneur, your account balance increases and their balance decreases. As soon as they sell something, however, their balance increases again. By doing business with each other, you are constantly extending lines of ‘credit’ that always have to be earned back within the network. This means that if you add up all the balances in the network, you’ll always arrive at zero.
Is your company healthy? Is there enough demand to cover your supply? If so, you can apply for a supplier credit. This allows you to spend TradeQoins even though you haven’t earned them yet. This way, you get all the benefits of credit without any of the drawbacks – after all, you don’t pay interest when your account is overdrawn. By the way, a positive balance doesn’t generate interest either.
At TradeQoin, we want to make local SMEs strong and healthy again. How do we do that? Simple: by setting up local networks and getting entrepreneurs to do business with each other. We call these local networks communities.
TradeQoin NL provides the overall network for all Dutch communities. An overview of all the products and services offered in all communities can be found in the Marketplace (link to Marketplace).
Ideally, you’ll buy and sell within your own community. But what if you need a printing specialist and your own community doesn’t have one? In that case, you can check the other communities to see if you can find what you’re looking for.
Is there no community in your area? Feel free to start one yourself? Or simply join the TradeQoin network.
Click here for more info about our communities.
The most important TradeQoin ground rules can be found here