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Title: Circle Deposit with changing exchange rates Post by: Bandot on July 05, 2015, 06:22:07 PM If I deposited $500 into my circle account with my bank, and it takes about 5 days to process and be added to my account, will I be getting $500 worth of bitcoin at $255 (where it was 4 days ago) or $500 worth of bitcoin at $275 (where it is now). If it is the latter, that's ridiculous.
Title: Re: Circle Deposit Post by: owlcatz on July 05, 2015, 06:27:09 PM If I deposited $500 into my circle account with my bank, and it takes about 5 days to process and be added to my account, will I be getting $500 worth of bitcoin at $255 (where it was 4 days ago) or $500 worth of bitcoin at $275 (where it is now). If it is the latter, that's ridiculous. What exactly did the email or confirmation page thing say? I think with coinbase, it's the price at time of buy, not later. Not sure about Circle, but would assume the same. sorry. I am sad to see the price climb so fast as well, as I just bought a few things. Title: Re: Circle Deposit Post by: Bandot on July 05, 2015, 06:42:48 PM If I deposited $500 into my circle account with my bank, and it takes about 5 days to process and be added to my account, will I be getting $500 worth of bitcoin at $255 (where it was 4 days ago) or $500 worth of bitcoin at $275 (where it is now). If it is the latter, that's ridiculous. What exactly did the email or confirmation page thing say? I think with coinbase, it's the price at time of buy, not later. Not sure about Circle, but would assume the same. sorry. I am sad to see the price climb so fast as well, as I just bought a few things. Found this: https://support.circle.com/hc/en-us/articles/203128354-How-is-my-deposit-BTC-USD-exchange-rate-locked- So the rate is locked I guess. Good Title: Re: Circle Deposit with changing exchange rates Post by: melisande on July 09, 2015, 04:36:36 PM If I deposited $500 into my circle account with my bank, and it takes about 5 days to process and be added to my account, will I be getting $500 worth of bitcoin at $255 (where it was 4 days ago) or $500 worth of bitcoin at $275 (where it is now). If it is the latter, that's ridiculous. There is no stop order when it comes to bitcoin buying, you simply buy it when you have funds in your account and at any price you met the market.Title: Re: Circle Deposit with changing exchange rates Post by: tiggytomb on July 10, 2015, 02:03:06 PM I have heard good things about Circle, and a few negatives about Coinbase where I have an account, I might check out Circle see what they are all about.
Title: Re: Circle Deposit with changing exchange rates Post by: enquirer on July 26, 2015, 03:09:02 PM The FAQ states that " if I deposit $30 worth of bitcoin and the exchange rate changes slightly before the transaction is processed, the amount of bitcoin that I get for $30 may be slightly different."
I understand the exchange rate is not locked until transaction is processed, so in your example, the rate would be $275. I might have misunderstood though, the wording of the FAQ leaves room for interpretation. Title: Re: Circle Deposit with changing exchange rates Post by: bitcoin1387 on July 26, 2015, 06:17:46 PM I believe the figure is the time and processed the transaction and not the purchase.
Title: Re: Circle Deposit with changing exchange rates Post by: BitcoinDistributor on July 27, 2015, 01:02:29 AM Price is locked when you make the purchase.
Example: If the exchange rate is $300/BTC tonight (just an example, its not) and you buy $600 of BTC then in 3-5 business days you would be credited 2 BTC to your account. Even if the exchange rate falls to $150/btc or $600/btc in those 3-5 days. I've made over $3k in purchases from Circle never an issue, always at the rate when purchased. |