Bitcoin-Central

Bitcoin-Central.net is a currency exchange based in France and operated by Paymium, that allows trading between bitcoins (BTC) and a number of currencies, each with its own trading market. It is notably the first exchange to operate within the framework of European regulation and to guarantee the fiat deposits of its users.

Features

On December 6, 2012, Bitcoin-Central announced that:

• User funds would be held at Aqoba's partner financial institution under the user's name, separately from Paymium's funds
• User accounts will be individually protected up to 100,000 EUR by the Garantie des dépôts, the French equivalent of the American FDIC
• Each account would in a few months after launch get its very own IBAN number, enabling its use as any other bank account, e.g. for salary deposits with optional automatic conversion to Bitcoin
• Each user would soon be able to order their own debit card, accessing their EUR and BTC balance
• All incoming and outgoing transfers would be 100% automated via direct access to the banking networks
• Corporations would have access to an actual financial institution if they wish to start accepting Bitcoin and be safe from a regulatory point of view

Paymium hopes to have a much better legal standing and a much higher attractiveness for second and third-round investors.

Deposits

BTC

Bitcoins funds are added to the account after a manual confirmation process.

EUR

EUR bank transfers (SEPA) are accepted for deposits at no charge by the exchange.

GBP

GBP bank transfers are accepted for deposits at no charge by the exchange.

LREUR

Liberty Reserve EUR funds are added at no additional charge from the exchange (normal 1% transaction fees from LR will still occur)

International wire

Any currency may be sent as an international wire transfer. Currency conversion fees apply.

Withdrawals

BTC

Bitcoins funds can be withdrawn at no charge.

EUR

EUR bank transfers (SEPA) are sent and incur a wire fee.

GBP

GBP bank transfers are sent and incur a bank transfer fee.

LRUSD

Liberty Reserve USD funds can be withdrawn (normal 1% transaction fees from LR will still occur)

LREUR

Liberty Reserve EUR funds can be withrawn (normal 1% transaction fees from LR will still occur)

Security

Accounts can be secured for two-factor authentication using Google Authenticator OTP or Yubico's Yubikey.

On April 25, 2013, Bitcoin-Central was hacked in a very similar attack to the one used against Slush's mining pool on Linode: its current VPS provider, OVH, had its management interface compromised, which enabled the attacker to reset the password, log into the Bitcoin-Central machine, and steal the hot wallet. Coincidentally, Slush's pool on OVH was hacked again in the same attack.

Mobile

Though there is no option for trading through Bitcoin-Central using a mobile app, the account's eWallet can be accessed for depositing and withdrawals (for spending) using the Paytunia mobile app or the Paytunia website.

History

• The site was launched on December 29, 2010.
• On January 3rd, 2011 it was announced that the source for Bitcoin Central will be released as a public open source project on February 1st, 2011.
• On January 28, 2011 it was announced that transferring of funds from one account to another had become available.
• On May 5, 2011 the operator described plans for improving service..
• On April 5, 2012, the Paytunia e-wallet was announced. Exchange accounts can be accessed using Paytunia's web and mobile clients.
• On October 24, 2012 BTC/GBP trading launched.
• On December 6, 2012, it was announced that Bitcoin-Central was the first exchange licensed to operate within the framework of European regulations.
• On April 25, 2013, the exchange was hacked and several hundred BTC were stolen.

See Also

• Buying bitcoins
• Selling bitcoins

External Links

• Bitcoin-Central.net
• Bitcoin-Central project on Github