ExchangeBitcoins.com

A relatively new currency exchange market, ExchangeBitcoins.com has a simple look, a basic set of trading features, and a well-documented API. Accounts can be funded with Dwolla, wire transfer, check 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 0.29% 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) and manually approved by the company. This process is stated to take 8 hours or less with an email option to expedite the deposit.

Dwolla

This option is among the fastest and least expensive methods for adding funds to an Exchange Bitcoins account. The transaction fee on Dwolla costs $0.25. The process is stated to take 8 hours or less with an email option to expedite the deposit.

International USD Bank Wire

Funds in USD may be wired to the exchange's bank in California. Each wire is subject to an $18 incoming wire fee.

Withdrawing Funds

Dwolla

Dwolla is among the fastest and least expensive methods for withdrawing USD funds from an Exchange Bitcoins account. The transaction fee costs $0.25. Dwolla withdrawals are stated to take 8 hours or less with an email option to expedite the withdrawal.

BTC

Bitcoins may be withdrawn at no charge.

Direct Deposit

U.S.

There is currently no option for withdrawing funds through a direct deposit bank transaction. Funds withdrawn to Dwolla may then, in turn, be withdrawn with bank funds deposited as an ACH transaction.

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.

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

• Bitcoin Charts
• Python trading library

History

The exchange went online on June 14, 2011.

See Also

• Buying bitcoins
• Selling bitcoins

External Links

• ExchangeBitcoins.com website