Frequently Asked Questions

If your question isn't answered here reach out to us on social media.

All your questions answered in one place

  • Q. What is Tetra Prime?

      For professional traders we offer a premium service named Tetra Prime. This premium service can be purchased in weekly, monthly or yearly intervals and provides the trader with special features. Here are some of these features:

      • * Insightful analytics dashboard.
      • * Customizable business storefront.
      • * Priority automated matching for listings and advertisements. People get matched with you more frequently.
      • * Priority appearance in the listings and advertisements page.
      • * Priority customer support and faster support turn-around.
      • * Ability to submit and vote on proposals and feature requests for the platform.
      • * Tetra Prime badge and status indicator.
      • * Profile and listing highlights.

      We'll be adding to this list as we add additional premium features to the platform.

  • Q. How does the Analytics Dashboard work?

      The analytics dashboard is available to Tetra Prime customers and its job is to show you statistics related to your listings and advertisements over chosen time windows, for example the effectiveness of your titles, descriptions, bounce rates, impressions, click through rate and more. You can monitor what does and does not work in real time, allowing you to maximize your customer base and turn over.

  • Q. How does the Business Storefront work?

      Large trading companies positioned in the top results of Google are currently making many more sales than sole traders on peer-to-peer exchanges. This is mainly due to the fact that they run their own websites and have something to directly advertise, market and search engine optimize. We're providing Tetra Prime traders with the option to create their own business storefronts that can be flexibly branded and customized to compete with these traditional cryptocurrency buying/selling companies. Your storefront will look and feel like any other website and you will be given a subdomain of your choosing. If you would rather use your own custom domain you can do that too. This gives the option for existing peer-to-peer exchange trading businesses and sole traders to step up their game and compete in new and exciting ways and build a strong brand.

  • Q. How does Brick & Mortar Mode work?

      Brick & Mortar mode allows businesses to operate from a fixed storefront or booth. If you're in a high density trade area and processing many trades a day it may be beneficial to set up shop and have your customers come directly to you. This also gives you the option of offering additional services such as consultancies or cryptocurrency related products. You can choose to enable B&M mode for certain time periods, whether that be for an hour or a day. Once B&M mode is enabled your location will be broadcast to other buyers and sellers on the Tetra platform that are in reach of you, so that they may meet with you to exchange coins and discuss potential purchases.

      We know that security is paramount for a feature like this, so we give you all of the tools necessary to ensure you are always kept safe. B&M mode will automatically expire by default to ensure you're not consistently broadcasting your location. It can also be automatically triggered off if you move a configured distance from your storefront, so that you do not forget to switch it off when travelling about or returning home. You can specify whether you want to only broadcast your location to approved participants or whether you want to broadcast to everyone. You can also set other limits such as maximum distance, minimum feedback and verification requirements, and so forth. Security is our top priority, and we have made certain that you have the tools to conduct your business in a very safe manner.

  • Q. What is the Tetra Security Model?

      It feels like almost every month there is another cryptocurrency exchange that has been hacked and millions of dollars lost. The goal of the Tetra Security Model is to eliminate attack vectors as much as technically possible to heavily reduce the odds of a successful hack and to protect customer funds in the event that it was to ever happen. We want to create a robust security standard for ourselves and other industry participants to implement so we can strengthen and secure the cryptocurrency ecosystem as a whole.

      Verified Trade

      For a verified trade we request the cryptocurrency be sent to a 2of2 multisig address for escrow holding, with Tetra as one of the multisig custodians. Once the cryptocurrency is in the holding address the other side of the trade will initiate the bank wire (or other payment method) to the Tetra holding location. Once Tetra has both sides of the trade in escrow it will request the wallet of the coinholder to sign a release transaction which will transfer the coins to the other side of the trade. This process may be automated if the user has opted in to automated finalization. Once this release has taken place the fiat will be transferred to the original coinholder. By using this model, Tetra (or an attacker) can never spend or move coins without direct cryptographic consent from the cryptocurrency holder.

      In the event the coinholder does not sign the release transaction the fiat will be returned to the customer and the coinholder will be given an option to release the coins back to themselves after a period of time, with penalty to their account.

      Non-verified Trade

      For a non-verified trade we request the cryptocurrency be sent to a 2of3 multisig address for escrow holding, with both Tetra and the customer as multisig custodians. Once the cryptocurrency is held in escrow the crypto buyer will be given the bank details (or other payment method) of the seller. Tetra does not route any fiat in this model. Once the seller verifies that the funds have been received in their account they can release the coins to the buyer. If the original coinholder wishes to signal for release then Tetra will also sign the release transaction and the funds will be transferred to the buyer. By using this model, Tetra (or an attacker) can never spend or move coins without direct cryptographic consent from either the buyer or the seller.

      In the event of a dispute, Tetra has the ability to mediate and release coins in either direction with the permission of at least one other multisig participant. For example, if it is deemed that the buyer has sent funds and the seller is refusing to release coins then Tetra can transfer the funds to the buyer by signing a release transaction with the seller.

      Private Keys

      As we can see from the above the transfer of coins throughout the system is thoroughly protected by available security mechanisms of the supported coins. Another point worth noting is that Tetra does not store your private keys. This ensures that a hacker will not be able to steal your coins by attacking our servers and bruteforcing or intercepting your private key passphrase. We do provide the option to have encrypted off-site backups of your private keys by using our Tetra Vault product, which is optional and only recommended for people who believe they have a high risk of misplacing their private key or private key wordlist. We will also allow you to use a client-side pin as an added layer of protection for your private key. This means that if someone was able to discover your account password and gain access to your device, they would also need to know your client-side pin. All of these layers combine to make a hack extremely difficult and unlikely.

      One of the problems with client-side private keys is the difficulty in using multiple devices. Tetra makes this easy by providing a simple and secure solution for you to sync your private keys across all of your devices. We generate a client-side one-time password and transfer your encrypted keys to your other devices over a TLS encrypted channel. To import the keys into your new devices you must provide the necessary passwords and do so within the expiry period.

      Encrypted Chat

      We provide Tetra users with the ability to end-to-end encrypt their communication on our platform. For dispute resolution we use digital signatures to verify the authenticity of volunteered chat messages. This means that nobody but you and your trade partner ever has the ability to read your private conversations.

  • Q. How can I integrate Tetra into my website or application?

      Tetra will provide webhooks and a flexible API to make app or website integrations easy and powerful. Automate trades, create widgets, perform book-keeping and more.

  • Q. How does the live chat work?

      One frustrating aspect of other peer-to-peer exchanges is the restriction that you cannot start a chat without opening a trade. This is particularly annoying if you simply wanted to ask a couple of questions about the traders turn-around times, coin or fiat fund availability, or whether they could make a custom listing or adjust a listing to your requirements. This could be costing you business.

      Tetra has no such restriction. You can open a dialog with users at any time. We also provide chat settings that can be configured to change this default behavior if you desire, as well as options to block people who are abusing the chat functionality.

  • Q. How does the trade matching engine work?

      Trades can be automatically matched and suggested based on key metrics such as location, pricing, coins, turn-around times, verification requirements, trade types, Tetra Prime members, payment methods, previous trade history preferences and more. Our system will intelligently make ideal matches for you to make trading fast and easy, but you're always welcome to choose your own listings if desired.

  • Q. How does the fraud detection engine work?

      Tetra's fraud detection engine will automatically flag suspicious trading patterns to ensure the platform remains free of scammers. This could include events such as a recent influx of negative ratings, reports from other users, out of the ordinary geolocation behavior, conflicting sign-in activity, suspicious profile activity and so forth. Once a profile has been flagged a Tetra staff member can review the activity to make a ruling. It's also important to remember that Tetra does not have access to your funds, so a suspension of a suspicious account will not result in any lost funds and is only a ruling that the suspicious user is not permitted to trade on our platform.

  • Q. Will you have a bug bounty program?

      Protecting our users is our highest priority, so we will have a bug bounty program that rewards the community for finding bugs in the Tetra system. Rewards will be tiered based on the seriousness of the bug and its potential impact to users.

  • Q. Will you have an affiliate program?

      Tetra users will be able to earn commission by signing up to our affiliate program and referring other traders to use the Tetra exchange. You will earn a percentage of the commission earned by Tetra for the activity of the trader provided they sign up to Tetra using your affiliate link.

  • Q. What is Tetra Vault?

      Tetra Vault is a security product allowing users to back up their encrypted private key to one of our off-site storage locations. This service is provided to users who have a fear of losing their private key or private key wordlist.

  • Q. What cryptocurrencies and coins do you support?

      Tetra will release with support for Bitcoin, Ethereum, Litecoin and Dash. We will be adding other coins as time goes on. For a coin to be added it must support multisig transactions in some fashion, whether that be through a smart contract or otherwise.

  • Q. Who is Tetra's target audience?

      Tetra will operate globally with no restrictions (unless forced by law). We value businesses and traders of all volumes equally, and we are providing tools for all operation sizes. We implement advanced security features, but we're presenting them in a digestible and easy to use way so that even non-technical people will feel comfortable using the platform. Security should be an implementation detail, and not something that is regularly exposed to the user. It should "just work". We've taken great effort to make the interface as simple and user-friendly as possible to fulfill our vision of making cryptocurrency accessible to the world.

  • Q. What payment methods does Tetra support?

      Tetra's full release is planned to launch with all of the most popular payment methods such as: Bank wire, cash, Paypal, credit card, Western Union, gift cards and more. We will be adding additional payment options as time progresses and by user request.

  • Q. Where is Tetra based?

      Tetra's base of operations is in Canada, British Columbia, however we have team members positioned all throughout the globe and our aim is to ensure the platform is accssible to the entire world.