Bitcoin7

A bitcoin currency exchange site.

This exchange escrows funds before trading and then matches buyers with sellers. The exchange's web site shows copyright Bitcoin7. The Terms of Service describses how the terms of Use shall be governed by the laws applicable in the Republic Bulgaria. Bitcoin7 and Bitcoin7.com represents. Further:

• "the European operations performed by "AbuDhabi 2010" EOOD, a company registered in the European Union, Bulgaria, Sofia"

• "the US operations performed by "Risk Asset Management" LLC, a company registered in Las Vegas, Nevada, USA"

Adding Funds

Funds deposited with the exchange for escrow towards placing a buy order include the following. Bitcoin7 operates in 5 markets as of June 2011 (USD, EUR, PLN, SAR, BGN)

Deposit

• Dwolla (instant)
• Liberty Reserve (instant)
• CashU (instant)
• US Bank Transfer (CitiBank (US)) (A $15 fee is incurred, 1-3 business days)
• EU Bank Transfer (FIBank (EU)) (free, 1-3 business days)
• PaysafeCard You initiate a PaySafeCard transfer (0-12% fee, Instant)
• EBank (DE,AT,BE,NL,CH) (3% fee, Instant)
• DotPay (2-5%fee, instant)
• ePay (1.2% fee, instant)

BTC

• Adding bitcoins to the account balance incurs no fees.

Mtgox

• Send funds directly from your mtgox account (1% fee, instant)

Withdrawing Funds

• Dwolla Incurs Dwolla's $0.25 per-transaction fee.
• Liberty Reserve (Fees 1% up to maximum of $2.95 USD per transaction)
• ePay
• Bank wire (fees, 1-3 days)

Trading

Limit orders are placed with a specific price. When a counter-party is found, the trade will execute. Partial fills are possible.

Market orders are accommodated through a method that involves quotations.

Fees

Trades on the exchange incur a commission (fee) of .57% each trade. The rate is specified in the user's account profile. A unique aspect of their fee structure incorporates affiliate marketing which seems (2011) to be a new marketing trend (Tradehill). Users are given the opportunity to promote the site and share in fees the business generates which has the effect of lowering there fees: Earn 20%.

History

The exchange was announced on June 15, 2011.

See Also

• Buying bitcoins

External Links

• Bitcoin7.com Official Site

See Also

• Buying bitcoins
• Selling bitcoins