A currency exchange market where bitcoins may be exchanged to and from U.S. dollars. Exchange Bitcoins Inc. is a corporate entity registered with the State of California.
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.
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.
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.
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.
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.
If your bank supports Popmoney you may use that payment network to add funds to your account. Funds will become available for trading in three business days in most instances.
Those who bank with ING may use the Person2Person transaction to add funds to their accounts. Funds will become available for trading in three business days in most instances.
Deposits to the exchange may be sent by check. Once the check has been deposited by the exchange, funds are available for trading typically 1 to 2 days later.
Bitcoins may be withdrawn at no charge.
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.
This withdrawal method causes a check to be sent to you by mail. A $3 fee applies.
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.
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.
The exchange went online on June 14, 2011.
- ExchangeBitcoins.com website
- [ http://forum.bitcoin.org/index.php?topic=16890 ExchB announcement on forum]