Frequently Asked Questions
Privacy and Security
Are there any privacy compromises?
App Stores
If you use Vexl on your Android or iOS phone, Google or Apple might store information about how you use the app using the telemetry features which are built into their operating systems.
They can record when the app is closed, opened, how long you use it for, crash logs, and your device model. This usage information could also be linked with your Google or Apple account. Unfortunately this is a limitation of mobile operating systems, and applies to all apps used on your device. It’s worth reading Apple or Google’s privacy policies. If you’re using iOS, check out Apple’s App Store Review Guidelines. For Android, read the User Data section of Google’s Developer Policy Center.
Vexl Website
The Vexl website never attempts to link your usage of the website to your real identity or create a user profile based on your activity.
We don’t want to collect or store any of your information that isn’t strictly necessary, so all information is deleted within 6 months of being collected. All the data we do collect is to help improve the website, and anything older than this is unlikely to be useful, so it’s better for both of us if it is deleted.
The Vexl website stores some limited data to make sure it is easy-to-use and fast-to-load.
We use Cloudflare services in order to serve the Vexl website. Cloudflare keeps logs about HTTP requests for the Vexl domains, which can be stored for up to 7 days.
Is my IP address being revealed when I use Vexl? To whom?
If you do not use a VPN, Tor, or another anonymizing method, your IP address will be shared with the Vexl servers. However, these IP addresses are not stored long-term.
What do I do if my phone is lost or stolen?
You simply register again as you did the very first time. Then you upload your contact list and there you go - you are back on Vexl!
Do people in my contacts list know I’ve shared my contacts with Vexl?
Vexl cannot contact anyone in your contact list in any way.
Why doesn’t Vexl rate users or offers in the marketplace?
Because ratings don’t build trust, people do.
Other platforms use ratings because they don’t have a better way to measure trust. We do. We believe trust should come from the people in your life, not some random star rating that can be faked, bought, or manipulated. You can rely on Vexl because of your real-world social graph (web of trust) - You see offers from people connected to you through mutual contacts — friends, friends of friends, or trusted connections — based on real relationships.
Another reason are privacy concerns: Vexl does not want to keep a database or active and well-rated users: we don’t know anything about you or your activity on the platform, and we want to keep it that way.
How do push notifications work on mobile platforms?
Push notifications on mobile platforms use Firebase Cloud Messaging (FCM). You can read more about the Privacy and Security of FCM here.
Will other users be able to see my phone number?
The users won't be able to see your phone number until you decide to reveal it to them.
What if upon revealing my identity the contact disappears?
The process of revealing your identity happens symmetrically - even if the other contact disappears, you will be still able to see his nickname, avatar, phone number and common friends.
Can I use Vexl without a phone number?
Vexl cannot currently be used without a valid phone number. This is done for several reasons. First, we want to keep bots off the platform. Second, we use these numbers to build a social graph of users, which would otherwise be a very lengthy and tedious process. However, Vexl has no way of linking the phone numbers to individual offers and if you are extra cautious, you can freely use any anonymous SIM card.
Where are my messages being stored?
Your messages are stored on Vexl servers, but only in encrypted form and for a very limited time.
How can I contact Vexl support if one of my trades has gone wrong?
The only way how to mitigate a malicious actor is to disconnect them from your social network forever - you can block them in the chat. They will never be able to contact you, your contacts and contact of their contacts ever again.
You can contact us via support@vexl.it, nevertheless, there is no way for us to help you with your trade - we can't even say if the trade happened or not.
How do I block a user?
You can use a Block button in the chat window. This action is irreversible.
What happens if I block a user?
The user you block will not be able to contact you regarding your trade anymore.
How can I delete my account and all data?
We don't have a traditional model of user accounts. We don't want to store any unnecessary data about you - that's why you just validate as an existing phone number and you can immediately join the platform.
Simply delete your account via the app. Everything will be lost forever - no trace left.
How can I backup my account?
You can't. Once you log out of the platform, you can't access your offers, contacts, nor messages again. We strongly advise against keeping any valuable information on Vexl - the app was designed as a platform for connecting you to a counterparty in a secure way - not for storing your secrets.
Has Vexl had a security Audit?
Yes! You can see the result of an independent audit here.
What if I find a security vulnerability?
If you've found a security vulnerability in Vexl, please report it via email to security@vexl.it.
App
How to create an offer?
To create an offer, first decide whether you are buying or selling. If you want to sell bitcoin, tap the "Selling" tab on the Vexl app's home page.
Then tap the plus sign (+), which will take you to the offers page.
From there, you will see the option to create a new offer.
Fill out a description that includes what you are selling and how much, and then complete the rest of the required details, such as currency, amount, fees, location, online or only in person, payment method, and transaction type (on chain or lightning.)
You can choose optional settings such as "Price Triggers," which will automatically post your offer when the price of bitcoin reaches a certain point.
You must then choose the friend level for your offer, deciding who will see it.
If you want to trade only with friends, select "1st degree." If you want to use your wider social network, choose "2nd degree," which will show the offer to friends and friends of friends.
Are there fees? What the fees mean and who pays the fees?
There are no fees to buy and sell bitcoin with the Vexl app.
However, there are fees associated with trading bitcoin. The fees are determined by the person creating the offer (the seller or the buyer). When creating an offer, you can decide what fee you want to set.
You should consider factors such as the current market conditions and the competition when deciding what fee to set.
What is the purpose of a fee? How should I decide what fee I should set?
The purpose of the fees is to compensate for the time and effort required to create and maintain an offer. Additionally, fees can help to ensure that the marketplace remains fair and competitive.
When deciding what fee to set, you should consider factors such as current market conditions and the competition.
If you set your fee too high, you may struggle to attract buyers or sellers. However, if you set your fee too low, you may not make as much money as you could.
Ultimately, the fee you set should be reasonable and fair for both parties involved in the transaction.
How do I calculate the fee?
When creating an offer on Vexl, you can set the fee that you want to charge. The fee is a percentage of the transaction amount.
To calculate the fee, multiply the transaction amount by the percentage fee that you want to charge.
It is important to note that the person buying is responsible for paying the fee.
Can I select any location?
When creating an offer on Vexl, you can choose the location where the transaction will take place. You can choose a specific town or city, or you can select a broader region if there are not many offers in your town.
What are price triggers and how do they work?
Price triggers are an optional setting when creating an offer on Vexl. They allow you to automatically post your offer when the price of bitcoin reaches a certain point.
For example, if you want to sell 1 bitcoin for $60,000, you can set a price trigger that will automatically post your offer when the price of bitcoin reaches $60,000.
This feature can be useful for sellers who want to wait for a certain price before selling or for buyers who are waiting for the price to drop before buying.
What does is mean 1st degree and 2nd degree contacts?
When creating an offer on Vexl, you can choose the friend level for your offer, deciding who will see it. If you want to trade only with friends, select "1st degree." If you want to use your wider social network, choose "2nd degree," which will show the offer to friends and friends of friends.
How does the 2nd degree friends of friends work?
When selecting the "2nd degree" friend level for your offer on Vexl, your offer will be shown to friends and friends of friends. This means that people who are not directly connected with you on the platform may see your offer if they have mutual friends who are connected with you.
What does it mean to reveal my identity?
Revealing your identity means that you will share your personal information with the other party involved in the transaction. This information can include your Vexl name, and profile image.
If you choose to reveal your identity, it can help to build trust between you and the other party. However, it is important to consider the potential risks involved in sharing personal information with strangers.
Before revealing your identity, you should carefully consider the situation and the other party involved.
Can I change my phone number?
No, it is not possible to change your phone number on Vexl directly. Instead, you will need to delete your account and sign up again with a new phone number.
However, it is important to note that if you do this, you will need to re-import your contacts and ensure that they have your new number and import it as well.
Can I use Vexl on any platform other than IOS and Android?
Currently, Vexl is only available on IOS and Android platforms.
Where does the trade happen?
The trade can happen in-person or online, depending on the preferences of the buyer and seller.
If the transaction is conducted in-person, the buyer and seller will meet at a pre-determined location to complete the transaction.
If the transaction is conducted online, the buyer and seller will communicate through the Vexl app to arrange the details of the transaction.
Is there escrow?
No, Vexl does not offer an escrow service.
Why doesn’t Vexl rate users or offers in the marketplace?
Because ratings don’t build trust, people do.
Other platforms use ratings because they don’t have a better way to measure trust. We do. We believe trust should come from the people in your life, not some random star rating that can be faked, bought, or manipulated. You can rely on Vexl because of your real-world social graph (web of trust) - You see offers from people connected to you through mutual contacts — friends, friends of friends, or trusted connections — based on real relationships.
Another reason are privacy concerns: Vexl does not want to keep a database or active and well-rated users: we don’t know anything about you or your activity on the platform, and we want to keep it that way.
Can I choose a region not a town if there are a small amount of offers in my town?
Yes, when creating an offer on Vexl, you can choose a broader region if there are not many offers in your town.
What happens if I flag an offer?
If you flag or report an offer on Vexl, it will no longer be visible in your Vexl marketplace. If three or more users flag the same offer, it will not be shown on the marketplace anymore.
Others
How do I know the person will meet me?
Similar to dating platforms, you can't be certain whether the person will really come and meet you. Sometimes you might have to try your luck again!
Can I use Vexl without a phone on a PC?
No. Vexl is intended to be a mobile app accessible via Android and iOS devices. You also need a phone number to access Vexl.
Does Vexl have fees? How does Vexl make money?
Vexl is currently for free. You don't pay to participate in the network nor do we monetize your data in any way.
The fees you see in the app are the fees set up by your counterparty - we have no influence over these fees and we don't take any cut from the trades. We can't even say if some trades ever happened :)
Is Vexl Open Source?
Yes! Check it out on GitHub.
How can I contribute to Vexl?
Spread the word
Vexl is a one of a kind project - we would like to test our efforts with as many people as possible. We rely on you to explain the benefits of our platform. Don't let your friends buy Bitcoin on centralized exchanges!
Provide feedback.
Vexl is and always will be anonymous and peer to peer in nature. We have no way to analyze our customer's behavior. Let us know what you love and where we can improve at support@vexl.it.
Contribute code.
Do you have Android or iOS development experience and you see a space for improvement? Don't hesitate to contact us!
Contribute (sound) money.
Vexl is currently for free - brought to you with love from SatoshiLabs. You can help us keep it growing by sending us some Bitcoin. Your money will help us finance the operations of an app that tries to protect your (continuously more and more marginalized) right to transact. Here you can donate to support this mission.
Who is behind Vexl?
Vexl is a private limited company founded under the umbrella of SatoshiLabs.
