ExchB: Difference between revisions
Drop Chase as a cash deposit funding method and add BofA. |
→External Links: Add @ExchBitcoins twitter account. |
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* [https://www.exchangebitcoins.com ExchangeBitcoins.com] website | * [https://www.exchangebitcoins.com ExchangeBitcoins.com] website | ||
* [http://twitter.com/ExchBitcoins @ExchBitcoins] Twitter account | |||
==References== | ==References== | ||
Revision as of 19:00, 14 September 2011
A currency exchange market where bitcoins may be exchanged to and from U.S. dollars. Exchange Bitcoins Inc. is a corporate entity registered with the State of California.
The site recently rebranded on the ExchB name and introduced a new logo and simplified layout.
ExchB has a simple look, strong security with two-factor authentication[1], and a well-documented API. Accounts can be funded with check, ING Direct Person2Person, wire transfer, and of course bitcoin. Orders executed on the site cause the USD and BTC account balances to be debited and credited in accordance with the amount and price of the order. All trades take place with funds that were previously deposited with the company.
Trading
Buying
A buy order is executed partially or in full when the price bid can be matched against a sell order that is at or below the bid amount.
Selling
A sell order is executed partially or in full when the price asked can be matched against a buy order that is at or above the ask amount.
Fees
Exchange Bitcoins subtracts a 0.54% commission from both the funds going to the buy and seller in each trade that is executed. The price reflected in the Transaction History is true price at which bitcoins were sold however the quantity of USD or BTC going into the account shown in the corresponding +/- column will be lower by the amount of the commission.
Adding Funds
BTC
There are no fees incurred when transferring bitcoins to an Exchange Bitcoins account. On viewing the Deposit page, a temporary address is issued that remains active for the logged-in account for 24 hours.
After 72 hours this address becomes eligible to be assigned to process deposits from another account. Funds are available once confirmed (6 blocks) by the Bitcoin network.
Bank Networks
Bank Branch
Cash or check may be brought to any of over 12,000 Wells Fargo or Bank of America branches for deposit. The deposit page from the website provides the information to provide when making the deposit and also includes instructions describing how to sendy by fax or e-mail the deposit receipt to request credit. The funds will be credited the following day in most instances.
Check
Deposits to the exchange may be sent by check in the mail. Once the check has been deposited by the exchange, funds are available for trading typically 1 to 2 days later.
USPS Postal Money Order
Deposits to the exchange may be sent by USPS postal money order in the mail.
ING Person2Person
Those who bank with ING may use the Person2Person transaction to add funds to their accounts. Funds will become available for trading in three business days in most instances.
Wire Transfer
Deposits may also be wired with the information to wire being available on the user's Deposit page.
Paxum
Funds from a check or bank wire to Paxum can be used to add funds.
Withdrawing Funds
BTC
Bitcoins may be withdrawn at no charge.
Check
This withdrawal method causes a check to be sent to you by mail. A $3 fee applies.
Wire Transfer
Deposits may also be wired with the information to wire being available on the user's Deposit page.
Direct Deposit
U.S.
There is currently no option for withdrawing funds through a direct deposit bank transaction.
Paxum
Funds may be transferred from an account to Paxum enabled use of their methods for withdrawing or spending funds.
Customer Service
The preferred method for obtaining service is to send e-mail with the request. There is also a toll-free +1-855 phone number on the Help Page where a message can be left.
Security
An optional security measure is to enable the two-factor login authentication offered. The authentication credentials come from a motp (mobile one-time-password) app that is run on the mobile. The motp apps are available for iPhone, Android, Windows 7 mobile and others.
API
Exchange Bitcoins offers a trading API which can be used to automate operations described above. There is also a Python library for interacting with this and other exchange's APIs.
Web
History
The exchange went online on June 14, 2011.[2]
See Also
External Links
- ExchangeBitcoins.com website
- @ExchBitcoins Twitter account