BitInstant: Difference between revisions

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Updated to reflect latest cash deposit methods and pay to destinations.
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BitInstant is a new service that allows you to quickly and easily transfer funds into your online exchange account without delay.
BitInstant is a new service that allows you to quickly and easily transfer funds into your online exchange account without delay.
It provides a means to rapidly topup your account at one of several bitcoin exchanges far faster than the usual methods. Many bitcoin exchanges allow deposits of traditional currency such as the US dollar via methods which can be annoyingly slow. In some cases there can be delays of up to a week before the funds you deposit are available at the exchange site for conversion into bitcoins. During this waiting period, as with any currency, exchange rates can fluctuate and you may not get the same amount you would have been able to at the time you begun your deposit.
 
It provides a means to rapidly topup your account at one of several bitcoin exchanges far faster than the usual methods.  
 
Bitinstant makes most deposits happen instantly - within a matter of seconds in ideal cases, and in an absolute worst-case scenario they will still aim to have funds into your exchange account before a stated maximum deadline (on average about 30 minutes depending on various conditions).
Bitinstant makes most deposits happen instantly - within a matter of seconds in ideal cases, and in an absolute worst-case scenario they will still aim to have funds into your exchange account before a stated maximum deadline (on average about 30 minutes depending on various conditions).


=Methods of Payment=
==Methods of Payment==
 
===U.S. - USD===
 
* Cash deposit (Major banks, 7-11, Walmart, CVS, and Moneygram locations)
* [[Dwolla]]
* [[Liberty Reserve]]
* [[Redeemable code]] from [[MtGox]], [[CryptoXChange]], [[BitStamp]] and [[BTC-E]]


Currently, top-ups can be funded via [[Dwolla]], [[MtGox]] Coupon Codes, and [[Liberty Reserve]] with new ones rolling out.
===Brazil - BRL===
 
* Boleto
* Banco Rendimento
 
===Russia - RUB===
 
* Qiwi
* Cypberplat
 
==Fund destinations (Pay to)==
 
* Mt. Gox
* CryptoXChange
* BitStamp
* [[VirWoX]]
* BTC-E
* e-mail (via [[Coinapult]])
* Bitoin address (via Coinapult)


==Fees & Rates==
==Fees & Rates==
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Server: irc.bitinstant.com
Server: irc.bitinstant.com
Channel: #BitInstant
Channel: #BitInstant
On April 16, 2012 the service began offering Coinapult as a destination option for the funds<ref>[http://bitcointalk.org/index.php?topic=76863.0 Bypass the exchanges w/ BitInstant Pay-to-Email feature]</ref>.  With Coinapult, BitInstant cash deposits are converted to bitcoins which are then claimed through e-mail or from a mobile phone (SMS / text message).
One June 5,2012 the service launched its integration with the [[BitcoinSpinner]] mobile app, simplifying the purchase of bitcoins using a mobile app<ref>[http://bitcointalk.org/index.php?topic=87852.0 Bitcoin Spinner App Update – With BitInstant Integration!]</ref>.


==API==
==API==

Revision as of 15:52, 17 June 2012

BitInstant is a new service that allows you to quickly and easily transfer funds into your online exchange account without delay.

It provides a means to rapidly topup your account at one of several bitcoin exchanges far faster than the usual methods.

Bitinstant makes most deposits happen instantly - within a matter of seconds in ideal cases, and in an absolute worst-case scenario they will still aim to have funds into your exchange account before a stated maximum deadline (on average about 30 minutes depending on various conditions).

Methods of Payment

U.S. - USD

Brazil - BRL

  • Boleto
  • Banco Rendimento

Russia - RUB

  • Qiwi
  • Cypberplat

Fund destinations (Pay to)

  • Mt. Gox
  • CryptoXChange
  • BitStamp
  • VirWoX
  • BTC-E
  • e-mail (via Coinapult)
  • Bitoin address (via Coinapult)

Fees & Rates

BitInstant dynamically calculates fees based on various factors, and start at 0.26%. Discounted rates may be available for certain high-volume traders through special arrangement, contact them for more details Their rates can be viewed on their Rates & Fees page, as well as on their homepage.

History

The BitInstant Project was founded by two BitCoin traders Gareth Nelson and Charlie Shrem who saw the need for a quick, easy, and secure way of transferring funds to their Exchange accounts. Based on efficiency, transparency, and security The BitInstant Project aims to grow into the premier Bitcoin transfer service. Based out of New York City and The United Kingdom, they can be reached at info@bitinstant.com or our their IRC channel. Server: irc.bitinstant.com Channel: #BitInstant

On April 16, 2012 the service began offering Coinapult as a destination option for the funds[1]. With Coinapult, BitInstant cash deposits are converted to bitcoins which are then claimed through e-mail or from a mobile phone (SMS / text message).

One June 5,2012 the service launched its integration with the BitcoinSpinner mobile app, simplifying the purchase of bitcoins using a mobile app[2].

API

BitInstant provides an API that may be used to automate various tasks with their service. To connect to it you may use either XML-RPC or a RESTful protocol using JSON. For XML-RPC, please point your client at https://www.bitinstant.com/api/xmlrpc. For RESTful JSON, please point your client at https://www.bitinstant.com/api/json.

Documentation can be viewed on their API page

See Also

External Links

References

  1. ↑ Bypass the exchanges w/ BitInstant Pay-to-Email feature
  2. ↑ Bitcoin Spinner App Update – With BitInstant Integration!
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