Bitcoinica: Difference between revisions
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==Depositing Funds== | ==Depositing Funds== | ||
===Bitcoins== | ===Bitcoins=== | ||
Bitcoins are accepted for deposit. A Bitcoinica BTC code may also be used for bitcoin deposits that are instantly available for use. | Bitcoins are accepted for deposit. A Bitcoinica BTC code may also be used for bitcoin deposits that are instantly available for use. | ||
| Line 26: | Line 26: | ||
====Internationial Wire==== | ====Internationial Wire==== | ||
USD funds may be wired to Bitcoinica's bank account in Singapore or to [[AurumXChange]] which can fund a Bitcoinica redeemable code. | USD funds may be wired to Bitcoinica's bank account in Singapore or to [[AurumXChange]] which can fund a Bitcoinica USD redeemable code. | ||
====Cash deposit==== | ====Cash deposit==== | ||
Deposits at thousands of banks can fund a Bitcoinica redeemable code (fee applies). | Deposits at thousands of banks can fund a Bitcoinica USD redeemable code (fee applies). | ||
====Liberty Reserve==== | ====Liberty Reserve==== | ||
[[Liberty Reserve]] USD and other e-currencies can be converted to a Bitcoinica redeemable code at through AurumXChange. | [[Liberty Reserve]] USD and other e-currencies can be converted to a Bitcoinica USD redeemable code at through AurumXChange. | ||
===E-Currencies=== | ===E-Currencies=== | ||
E-Currencies including Liberty Reserve, HD-Money, [[Pecunix]], PerfectMoney, and others are accepted at AurumXChange and can be converted to a Bitcoinica redeemable code. | E-Currencies including Liberty Reserve, HD-Money, [[Pecunix]], PerfectMoney, and others are accepted at AurumXChange and can be converted to a Bitcoinica USD redeemable code. | ||
===EUR=== | ===EUR=== | ||
SEPA Euro transfers can be used to fund a Bitcoinica redeemable code through AurumXChange. | SEPA Euro transfers can be used to fund a Bitcoinica USD redeemable code through AurumXChange. | ||
===GBP=== | ===GBP=== | ||
GBP wire transfers to a U.K. bank can fund a Bitcoinica redeemable code through AurumXChange. | GBP wire transfers to a U.K. bank can fund a Bitcoinica USD redeemable code through AurumXChange. | ||
==Withdrawing Funds== | ==Withdrawing Funds== | ||
Revision as of 07:51, 6 March 2012
An exchange that allows speculation on the Bitcoin to USD (BTC/USD) exchange rate using leverage.
The default margin requirement level is 2.5:1[1]. The level may raised to 5:1 (or higher) using the self-service settings function.
The service charges no trading fees but instead earns from the trading spread -- similar to how forex trading functions.
Caution is recommended for those not familiar with leverage and/or forex trading.
Funds may be added in the form of either MTGUSD or Bitcoins. Leverage from funds added using bitcoins can purchase an even larger Bitcoin (long) position[2]. Similarly, funds added using USDs can be used to sell (short) bitcoins without already having bitcoins.
The site does not yet provide a terms of service and it is not known from which jurisdiction the service operates.
Depositing Funds
Bitcoins
Bitcoins are accepted for deposit. A Bitcoinica BTC code may also be used for bitcoin deposits that are instantly available for use.
USD
Redeemable Codes
Bitcoinica USD redeemable codes and Mt. Gox USD redeemable codes are accepted for deposit.
Internationial Wire
USD funds may be wired to Bitcoinica's bank account in Singapore or to AurumXChange which can fund a Bitcoinica USD redeemable code.
Cash deposit
Deposits at thousands of banks can fund a Bitcoinica USD redeemable code (fee applies).
Liberty Reserve
Liberty Reserve USD and other e-currencies can be converted to a Bitcoinica USD redeemable code at through AurumXChange.
E-Currencies
E-Currencies including Liberty Reserve, HD-Money, Pecunix, PerfectMoney, and others are accepted at AurumXChange and can be converted to a Bitcoinica USD redeemable code.
EUR
SEPA Euro transfers can be used to fund a Bitcoinica USD redeemable code through AurumXChange.
GBP
GBP wire transfers to a U.K. bank can fund a Bitcoinica USD redeemable code through AurumXChange.
Withdrawing Funds
USD
Bitcoinica USD redeemable codes can be redeemed at AurumXChange. USD funds may be used for a bank wire transfer or to load or reload funds for the AurumXChange MasterCard.
EUR
Bitcoinica USD redeemable codes can be redeemed at AurumXChange and then withdrawn as a bank wire transfer in the SEPA Eurozone.
GBP
Bitcoinica USD redeemable codes can be redeemed at AurumXChange and then withdrawn as a bank wire transfer to a UK bank.
History
The service was launched on September 8, 2011[3]. On March 1st, 2012 the site suffered a significant financial loss when a web hosting had an internal security breach that gave the attacker access to a wallet in which Bitcoinica stored funds. More than 43K bitcoins were stolen by the attacker. The operator provided a statement that reserves were sufficient to cover the loss[4].
External Links
- Bitcoinica web site