Bitcoin Forum

Dear Bitcoin Community!

We have launched our public site! Crypto X Change is live. Open a free account here: www.cryptoxchange.com (http://www.cryptoxchange.com)

As a fun commemoration, we're giving away a free 10oz PAMP Suisse Silver bullion bar to the holder of the 1,000th account created at Crypto X Change (with free global shipping, of course). http://www.cryptoxchange.com/p/124/pamp-suisse-10-ounce-silver-bar (http://www.cryptoxchange.com/p/124/pamp-suisse-10-ounce-silver-bar)


We're obviously entering a highly competitive market, and are here to prove ourselves over the long term. Here's what we bring to the table:

- Unmatched proprietary banking. Deposit via internet banking, or in-branch cash, from banks all over the world, in over 25 currencies.
   Your money will typically arrive within 24 hrs. Our process is automated - no manual entry or lag times. No other exchange is even close to this.

- Resilient and professional payment system. Crypto X Change customers will never have to deal with frozen bank accounts.
   Sepa and euro transfers will never be interrupted.

- Truely global. 25+ currencies in and 120+ currencies out. Convenient banking in every major country in the world.

- Credit Cards Within the next few weeks you will be able to purchase bitcoins, and bullion with credit cards world wide!

- Additional Funding Methods Also coming over the next week we have Dwolla, Paxum and Liberty Reserve being added.

- Fully-licensed with liability and indemnity insurance.

- Special Mining Pool Programme (pool operators, please get in touch - both you and your miners get special exchange privileges)

- Full bullion store with international shipping

- Alt-currency support. Trade Namecoin and Litecoin with us!

- Live Support - very soon to be 24/7. - For All Support Inquiries Please click live help on our website in the top right hand corner, if a support member is not available you can still leave a message for support and it will be attended to Urgently. Alternatively email us : support@cryptoxchange.com or phone our global phone numbers provided on our website.


And there is much more to come over the next couple months and years! We're absolutely honored to be part of this dynamic community and the exciting new opportunities of Bitcoin. We're here for the long-haul, and please don't ever hesitate to contact us and discuss anything Bitcoin related. Also - a big thank you to all the other community members building innovative systems right now, we're excited to work with and alongside you.

Open a free account here: www.cryptoxchange.com (http://www.cryptoxchange.com)

Kind regards,
The Crypto X Change Team

Australia: (02) 8005 1901
New Zealand: +6498890114
United States: +12024706044
United Kingdom: +442081235669
Hong Kong: +85281999960

Hi SAC, please visit our online Live Help, and we will sort this issue out straight away with you there.

Thank You

Crypto X Change

Bold claim! I'm wondering how...


Very nice!

TY for your services and good luck!

Hi BitcoinBug,

We have setup our entire banking infrastructure and legal side over the past 7 Months, to ensure a problem free solution for our clients.

There are 25 Inbound currencies accepted world wide, our customers can transfer to their exchange account by internet banking or, they can goto a local branch of the bank deposit information provided from our system and deposit money over the counter in any of the countries.

We hope the community enjoys what we have built, and we have a huge announcement coming soon, along with more exchange enhancements and more Crypto Currency solutions.

Thank You

Regards

Crypto X Change

Fantastic, game changer for sure!

Thank you BitcoinBug !

Much appreciated

Crypto X Change

I've put some money on there using mt.gox codes ($20 just to try it) - It was instantaneous.
Why don't all the exchanges do this?

http://www.cryptoxchange.com/t/AboutUs

Site looks very nice.   :)

GAAAAH!

Another password form with another set of retarded, distinct, restrictive requirements.
Can't people coding this just ask for a secure password? What if I want to use a password that's 8 characters long, contains upper and lower case, a set of symbols, and is a fully randomized string, but doesn't contain a number? Or maybe I want to use a password that only has lowercase dictionary words, but is actually 30 characters long (http://xkcd.com/936/)?


[/rant]

Edit: Also, can you put down the going fees for deposition and withdrawal somewhere? I actually want to know those before even considering sigining up. I couldn't find it, so I signed up, and now you want me to actually give you my address and ID info, before even being able to find out how much it would cost me to get money into your exchange :/

Anyway, don't get me wrong, your exchange looks good overall, and the 24/7 live service is a good idea, but these things I mentioned are just rather agitating.

Hi BTCurious,

Thank you for the feedback it is much appreciated, we will address everything you have mentioned ASAP.

Thank you for joining us!

Crypto X Change

You might want to consider hosting yourself the font css that you are pulling out from google or at least pull them from a google https link. It looks bad on browsers to have a red cross on your certificate because of that.
Users can't even tell if you have a DV or EV SSL certificate on the browser bar because of that.
IE users will get warnings about non-secured content on every https page they open.

On another note, posted your PR at Coinbits.com http://coinbits.com/crypto-x-change-opens-doors-to-the-public-the-days-of-waiting-days-for-bitcoins-are-over/

How do we change say from bitcoin to USD and withdraw?  What methods are there for withdrawals?  As far as I can see there is only a bank transfer, what are the charges?

I see an area for "reward points" in my account.  What are those?

Hi worldinacoin,

If you have Bitcoins in your account, you'll need to sell them on the exchange for USD, then you can withdraw USD.  The bank transfer is very fast - typically 24 hours. For all bank transfers in or out, it's a flat $15 fee anywhere in the world. Please note that the transfer is not a "wire transfer" and thus there are no other fees or charges.

Thanks,
-Crypto X Change

Not used just yet - but they will give users certain benefits like reduced commissions or even credits to redeem at the bullion store, etc.

Congratulations.


Im not aware of any other exchange offering this so that alone is worth joining up for.

Wondering what's up....

I see a bid of 0.4 at 3.00 and an ask of 0.03333334 at 3.00.  Shouldn't the big be partially filled by the ask?

Where can we view the current number of registered accounts?

are SEPA transfers into the exchange cheaper than $15?

I haven't been able to get past the nazi password sign up page just yet, so i would like to know if its worth joining first

Hi,

The fees are $15 each for an unlimited amounts of Dollars / Euro's and many other currencies. We support 25 Currencies and there is no Wire Fees charged by your bank, but in order to provide the fast 24 hour banking system world wide, there is a fee for each deposit of $15 at the moment. Our system is 100% Automated and hassle free your funds arrive and are in your account online within 24 hours, so there is no more waiting days or a week to get your funds into the exchange. Also there are no issues with SEPA accounts being frozen or locked. We do have more funding and withdrawing options coming very soon, however you will like the speed and efficiency of our banking system once you try it.

Thank you very much

Crypto X Change

Hi,

We do not have a visible spot showing the amount of clients we have. In regards to when we hit 1,000 clients we will be posting at the start of this thread and contacting the winner of the Silver Bar. Thank you very much!

Regards

Crypto X Change

Hi Tysat,

It is very possible that it's the same client, and that is why it isn't allowing that particular trade. Thats all it can be, we will double check this however the trade engine is working very well.

Thank you

Regards

Crypto X Change

I would use your service but $15 is to steep. Looking forward to when you figure out a way to make it lower.

Shuai,

Thank you, we have credit card facilities coming soon, in December some time. Maybe that might suit you.

Thank You

Regards

Crypto X Change

This exchange changes the game completely, not due to it's services, but due to the fact that it is a real company running it, with insurance and a physical address. That, and the fact that they have done their homework before entering the game, with laws and banking system figured out!

Good work!

Registered  ;)

It's good to see new serious players in the field. The fee is somewhat acceptable for withdrawals, not so much for deposits. I'll probably wait until you guys add other deposit methods (LR, Pecunix, MoneyBookers).

Also, an idea for you: what I love in MoneyBookers (irregardless of their other shortcomings) is that they have local bank accounts in all the countries => really low fees for deposits/withdrawals. You might look into this.

ovidiusoft,

Thank you, those extra options will be available within about 10 Days, so not too long to wait now.

Regards

Crypto X Change

Monebookers can be charged back, no exchange will take them unless they like to be scammed. They could pay you out with MB easily though

Hi Zer0,

Yes we know the dangers of it. The option for payout will also be there.

We are hoping to have all of those additional options in by next week.

Credit Cards will be December some time.

Thanks

Crypto X Change

I was suggesting they emulate the MoneyBookers way and open local bank accounts in every country.

Registered, looks pretty good.  Will try it out today.

You'd be paying huge bank fees to open dozens of accounts around the world, also Euro banks typically require $5-20k minimum deposit to open for foreign entities. You're also exposed to local taxation, since you're taking local deposits. Now, how are you going to inexpensively transfer money around back to yourself through this network of banks? Can't pay $50 to wire everytime or SEPA fees.

Solution is use an online payment gateway that specifically does cash deposits
http://www.trustcash.com/

Have the gateway dump money to a TechnocashUSD account, or get an account at BoA and trade the deposited money for TechnocashUSD (.5% fee) from established technocash exchangers that already have BoA accounts. Great Success.. there's cash payment gateways for Europe too

Not trying to be cynical here, but we don't really need another exchanger who takes the same 3 methods and really brings nothing new to the table. Local bank accounts are possible - MoneyBookers and Lillion transfer (forgot to mention this!) already solved the problem. Costs are not the customer's problem - transfering large amounts in batches will be less expensive than 15 USD / each deposit anyway. Not to mention that some smart local caching can optimize the process.

I am not sure about taxation, I don't think you need to pay local taxes if your operation nexus is in another country. I am thinking about a vendor in UK who uses a France payment gateway for a Italy customer only needs to pay UK taxes. I might be wrong.


That's really cool! Hopefully there are processors who can cover all of the world.

 ;D ;D ;D ;D ;D Thankyou Crypto x change!!!! I am now the owner of my very first Bitcoins. :)

YES!! It is worth joining.  ;D

Congratulations Sapp,

That's great news, if you need any help at all be sure to email or find us on live chat.

We appreciate your business.

Regards

Crypto X Change

Hi challengeaccepted-

Yeah as the former poster mentioned, you must first enter at least one external BTC address in your profile Addresses page.  I've updated the sidebar content to be more informative, thanks for pointing this out. Note that if you ever have a question, you can also click our Live Support link at the top of the page. There is almost always a representative to help you very quickly.

Regards,
-Crypto X Change

You seem to provide an excellent service. I wish you the best of luck and fortune. Please, if you don't mind suffering my skepticism, could you address a few of my concerns below:



Can you elaborate on this? Is it not possible for a European bank to block a SEPA transaction?



How are you protecting yourselves from chargeback? ... entirely through liability and indemnity insurance, a special legal framework, or..?



Such as...?

My Litecoin is not arriving.
Live Support not working.
No e-mail response for almost 9 hours in the middle of your business day.

Now all of this would be quite acceptable, if you didn't have services like live support and phone numbers all over the world giving the impression of 24/7 instant support...

Hi Rahl,

We did receive your email and our reply seems to have bounced, we've tried again just now (also, do you have a different email we could try?). The Live Support link at the top is working for most people but I am sorry it didn't work for you. We do have operators available there at almost all hours.

We'll get the Litecoin sorted for you.

Also, we don't want to upset anyone with a Mises avatar =)

Thanks,
-Crypto X Change

Hi netrin,

On the bank issue: this is one of our trade secrets, so I can't discuss the details. But the statement is true. I suppose in the world of banking anything is possible, but it is extremely unlikely that a payment will not get to us or to you do to a frozen account.

On the credit card issue: this is again a trade secret, but no it's not due to our insurance. We hope to have the credit card purchases available by Christmas but I don't want to guarantee that.

On the mining pool programme: we're releasing an API that allows mining pool operators to link with us. Their miners can opt to sell directly/automatically on our exchange for a discount, and the pool op gets a portion of the commission (so the op and the miners are both benefited). We're in touch with a few mining ops now but the API isn't quite ready.

Thank you for the questions and please don't ever hesitate to ask.

Regards,
-Crypto X Change

Thanks. Yeah, Chrome seems to be the reason live support isn't loading. I am just a bit itchy after having run into a stream of other companies with there fancy live supports and never any operators online...
It is just a small amount of LTC and it hasn't even been a day so I am sure you will sort it out.

I respect your desire to keep your trade advantages secret, but it may backfire on your adoption rate. I can not imagine how you've solved the issues I've pointed out and thus leave open the possibility of the worst. I will not be using your service nor will I recommend it to others until much time and real-world experience show you can be trusted. I wish you the best and hope you prove my skepticism unfounded.

Their "trade secret"(ah!) is the same as companies like paypal "trade secrets". They charge customers exorbitant fees to cover for losses caused by scammers. Ex.: The $15 deposit fee...

PSY,

Our clients are able to walk into the same branch bank in many countries and deposit cash over the counter or use internet banking for 25 Different currencies locally, our banking system and automation has taken a long time to put together. How much is an International Wire transfer at a Bank? $30 to $40 Usually. So we are providing a service that opens the market upto many countries that didn't have a safe and reliable way to deposit into an exchange. Within a couple of months we expect to be able to drop the fee to around $5. Our system allows for unlimited amounts of money to be transferred as we are a Gold & Silver dealer as well. We are not making any money out of the $15 cost at all, that is what it costs us in fees etc from banks.

Regards

Crypto X Change

I hope your lawyers have been talking to the ATO, because I give you 6 months before your charged with money laundering.

Astana,

Of course our legal team have covered everything, there is such a thing called customer verification which is required for anything over $500, in which we have rules and policies in place. The Unlimited transfers are for our Bullion business, so there is no money laundering at all possible, we have very strict policies in place and all transfers in and out are facilitated to all legal requirements.

Thank You

Crypto X Change

It is free to send and free to receive at my bank and many others here. I haven't run into any intermediary fees even when sending funds outside Europe this far either. So international wire deposit charges are really a bummer...

That would be amazing. You certainly would have my business if I could turn cash in hand to cash on a exchange for 5 bucks. By then you should have a lot more volume.

Quick heads up - we are receiving extensive malicious attacks on the site today (Nov 23 and past few days off and on). It is not damaging anything, but it is causing outages and slow response times for many people.

We're working on adjusting our defenses. The system is secure but we understand the annoyance of slow response on the page loading so we're working to correct this ASAP.

Thank you for your patience,
-Crypto X Change

Hi Crypto X Change,

Your site looks very professional, congratulations.

But I wonder what are your takes on privacy. The "Extensive logging and tracing of all activity" statement on your security page is particularly worrisome, and combined with the "Account freezes on suspicious activity" one it really suggests a MtGox-like behavior of holding people's money hansom in exchange for identification, what I find particularly disgusting.

I mean, I perfectly understand that by operating legally the way you intend to do, you cannot fully respect people's privacy. But you can at least make everything clear from the start, to avoid misunderstandings. For example:

• How do you define suspicious activity?
• How one unfreezes his account, once it got frozen?
• Will you ever ask governmental identification? Which? Under which conditions would you ask them?
• Will you keep a record linking outgoing bitcoins to incoming bank transfers (or IDs), thus linking bitcoins with people?
• If forced by "stronger powers" to give away your customers' data, can/would you at least make such fact publicly known?

Thanks.

You don't necessarily want to announce what suspicious activities are being looked for.  That just lets criminals know what activities to avoid.[/list]

I know, but I wouldn't also want to have my account frozen by myself.
If the purpose of such freezing is really to protect the account owner, then maybe the triggers of such system could be configurable by the user himself. Not allowing the user to configure what could trigger his account freezing gives the impression that such mechanism is not there only to protect the users...

Hi EhVedadoOAnonimato,

That's quite a name you've got there =)  Yes your concerns are understandable. Frankly speaking, Crypto X Change intends to be around for a very long time, and as such we must be very careful to fully comply with Australian AML and "Know Your Customer" (KYC) guidelines. We understand there is a range of opinion within the Bitcoin community on issues of proper security, privacy, and disclosure, and that because of this, some individuals may never wish to trade with us because we comply with AML policies.

If we believe there to be suspicious activity in an account, we reserve the right to freeze it while the course of action is determined. Sometimes this is done in the interest of the account holder (if an account may have been compromised), and other times it is in the interest of the rest of our account holders or ourselves if the account holder is acting illegally. There is no free lunch - an exchange which looks the other way with regards to illegal activities is jeopardizing the accounts of its other customers if it draws suspicion from law enforcement.

Thankfully, Bitcoin itself exists within a free and open marketplace, and users are free to choose with whom they associate and do business. Crypto X Change seeks legal business in full AML compliance over the long term, and thus our Privacy Policy and Terms reflect that (and extra points to you for actually reading a site's policies... more people should do that).

Hopefully this addresses your concerns in a reasonable way and demonstrates where we stand on the issue, and thank you for bringing it up for discussion.

Regards,
-Crypto X Change

It's probably worth pointing out that AUSTRAC listed e-currencies as one of the emerging threats in their report last year.  They're well aware of the potential for web-based fund transmission and exchange services to be used for money laundering and the financing of terrorism (they even mention e-gold specifically).  Mobile payments and prepaid credit cards were also on their list of emerging threats as well as third party intermediaries.

AML/CTF requirements are going to get tougher in Australia (they already have, with 100 points of ID now being needed to buy a SIM card).  While financial information is highly protected here in general, that information must be gathered by entities offering financial services and there are a number of organisations to whom it must be disclosed upon request.  Certain types of activity must also be reported to AUSTRAC by law.  There are circumstances under which a financial service provider would be restrained from informing a customer that their account activity is under investigation.

It's seriously not worth any legitimate business looking the other way when it comes to AML/CTF requirements - the risk of their accounts and other assets being frozen/seized while investigations are made is just too great.  You want the sketchy customers to go elsewhere so that you don't suddenly find your business in indefinite limbo.

well...you can dress a whore like a princess but deep down she's still a whore. so i hope you have good lawyers and a yatch to flee the country when something happens and all your clients money is gone.

Quick notification - our site is going through some downtime today, related both to the continuing attacks on it and our security work in combating the attacks. So, please don't be worried if you're unable to access the site at some point today (Nov 30/Dec1). Trade engine and servers are secure and happy.

Our sincere apologies for the inconvenience. As always, you can contact us at support@cryptoxchange.com

Regards,
-Crypto X Change

It does show you're kind, professional, and that you "stand on the issue", but it doesn't actually addresses my concerns because you mostly evaded my questions. I'd appreciate direct answers, even if the answer is on the line of "we won't answer this particular question". A direct no is at least clear.

• Will you ever ask me my passport, or any other ID for that matter? May I know under which situations, or should I expect surprises?
• Will you keep links between the account(s) I use to fund my balance with you and bitcoin addresses I withdraw to?
• Will you only freeze somebody's account "in the interest of the rest of our account holders or ourselves if the account holder is acting illegally" if you can actually prove the account owner is acting illegally, or will it be more on an heuristic basis with frequent false positives? Keep in mind that making a false positive in such case is calumny.
• If a foreign government, or the IRS-equivalent of it, asks you data about your clients, will you deliver?
• If the Australian government forces you to give them data on your customers, will you at least require a Justice order or something else that could be made public, to prevent your customers?

Thanks again. Don't take me badly, I'm not here to attack you, just to know about your service, and how much can I trust it. I hate, from the deep of my soul, to pay taxes, and I don't want to pay capital gain taxes I eventually have with my bitcoins. I'm obviously not asking you to help me avoid my taxes, I just wonder how preemptive will you be in helping governments to catch those who try to protect themselves from taxation.

By the way, I'm sorry to hear about the attacks. This is sad. Every bitcoin related site is aimed by these scumbags. I hope you can get rid of these criminals without suffering any actual damage.

What made me chuckle about this irony of yours is that a whore lives from a perfectly honest service, while a princess lives from plain robbery, and yet, there are so many cases when "whores" (people living honestly) have to dress like "princesses" to avoid issues.
What a twisted world we live in.

Hi, I'll try to be nice and direct for you =) Ordered as your questions:

- We require ID for any accounts withdrawing $500 or more through our site. This can be passport + driving license, or driving license + 2 ID cards (credit card or medicare card, etc).
- We log all money deposits and withdraws. The log would show a deposit from Account A and a withdraw to Account B
- We reserve the right to freeze an account which we believe to be suspicious. "Proof" of illegal activity is a matter for legal courts, not for our staff to determine. We of course do not intend to act "on a heuristic basis with frequent false positives." Putting a hold on a suspicious account is not calumny- calumny requires an intent to slander or defame someone with false knowledge. Ironically, if you knew the definition of that term, then you almost committed calumny against us, didn't you!  ;)
- We would not just hand over data due to a "request" from some government body. We are not under the jurisdiction of anyone but the Australian government, and we will comply with Australian court orders absolutely.
- Again, we'll comply with legitimate court orders according to Australian law

Please always feel welcome to discuss your concerns, we're happy to help.

Regards,
-Crypto X Change

Hello, respectfully, I have a few short followups.
 
When you say $500, do you mean $500 total? 500$ at once? $500 a month?

What criteria do you use to determine that an account is "suspicious?"

Thanks.

That's what I was expecting. I appreciate your answers, thanks!


Almost. ;)

What I meant is that if you claim that you only freezes an account if it is "to protect the owner" or "when owner acts illegally", and someday you freeze someone's account without being for his own protection, than you're by exclusion saying the owner is behaving illegally. Of course, if you always add the word "suspicious", never making direct accusations etc, I guess you won't have any sort of legal problem. I just hope your heuristics are not like some others we've been seeing around, if you know what I mean.


I wish you success on your business. Best regards.

hehe, true, that's a useful question too.
Also, does $ stand for USD or AUD? I initially assumed USD but as they are based on Australia maybe they're used to refer to AUD with the $ symbol as well.

Are you a "reporting entity" under the provisions of the AML/CTF Act by virtue of providing the "designated service" of selling bullion?

What people from overseas should probably know is that if the Australian Taxation Office or AUSTRAC issues a formal request for information to an individual or a business, it's an offence not to provide it.  They don't need court orders to give legal authority to such requests or to impose penalties for non-compliance with such requests.  Both organisations have extensive coercive powers which they can use to ensure involuntary compliance if necessary.

Where this affects people from overseas is that both the ATO and AUSTRAC data share with their equivalents in over 40 overseas countries.  If the IRS thinks that you're trying to evade taxes through dealings in Australia, they can ask the ATO for any data it may hold on you and that data will be shared.  The ATO has the right to seek data on you to establish your liability for Australian taxes.  It's not the job of the business from whom information is requested to decide whether or not such a liability exists - it's their legal obligation to comply with such requests.

Likewise, there's a legal obligation to comply with formal requests by AUSTRAC.  Certain entities providing "designated services" have an additional obligation to actively report certain information to AUSTRAC whether or not it's formally requested.  What AUSTRAC does with that information depends on the particular type of offence which might be indicated by the transactions but if they deem it "suspicious", the data will be shared with the appropriate agencies both here and overseas.  Requests for certain types of transactions require immediate reporting to AUSTRAC and whether or not the transaction can proceed is determined by them.

It would be unwise to assume that information about transaction carried out in Australia is not available to authorities in your own country.  In many cases it is indirectly available to them through one of our government agencies.

I also would love to use your service but the $15 fee for withdrawals makes it very unlikely. Both Mtgox and Tradehill allow for nearly free withdrawals  Mtgox through Dwolla at 25 cents, and Tradehill through direct checks for free.  Anything more then $5 or 1% take you out of the the competition for me. 

Please note, I am talking withdrawals.  You should not 'tax' people withdrawing for the possibility of chargebacks from deposits by having the same price for both.  Simply put, withdrawals in the Bitcoin world cost less (due to less risk) then deposits and should be treated differently in terms of cost.



 

Find you guys did a lot Ads.  ;D

is the page down ?

It works fine for me

Hi jwzguy,

To answer your questions...

- $500 in total... once that amount is withdrawn or deposited from the account, ID verification is required to withdraw or deposit more. This does not include BTC (you can withdraw or deposit unlimited BTC with no AML restrictions).

- Determining whether an account is "suspicious" is a subjective judgement on our part, and we cannot divulge the criteria we use for obvious reasons. Note that when an account seems suspicious, we'll investigate further and determine the proper course of action.

Regards,
-Crypto X Change

Sorry, it's AUD. However, the two currencies are basically on par right now.

Hi Littleshop,

Yes the $15 fee is prohibitive for some and we are working to reduce that fee. While other exchanges may have lower fees in that regard, for some people time is money, and receiving their funds fast and will more complete customer service is important. Withdraws from Gox via Dwolla have taken over 10 days for some people. Customers will vary in their time-preference for funding, and we offer the fastest system (and it'll be getting faster).

Also note, the withdraw fee is not to cover chargeback risk or anything like that. It's the cost of the actual transfer of the funds to your bank - as it occurs directly from Crypto X Change to your bank and cuts out Dwolla. But as stated, it is likely we'll be able to lower this fee soon.

Thanks,
-Crypto X Change

I know you might not find it wise to answer, but would an account that didn't withdraw or deposit in fiat be deemed suspicious?

Would you advise using an account as an e-wallet?

I am interested in registering.  But, before I do, let me present you with 3 scenarios (Keep in mind I live in the United States):

1.)  Someone hacks the site and steals my BTC or USD
2.)  Someone responsible for operating your site messes up and CryptoXChange loses all of my BTC or USD
3.)  Someone steals my CryptoXChange account information from a source outside of you site and uses it to hack my login and steal my BTC or USD

How does CryptoXChange respond to me, the account holder, in each of these 3 scenarios?

The site looks kinda bad in my browser  :(, using Firefox 3.6.23 on Ubuntu..

Hi Boonies,

No that would not be considered suspicious. Furthermore, if one is only dealing or interacting with Bitcoins, and not a national currency or "real money," then we are not aware of any laws that even apply in any way.

Until some legal precedent is set suggestion otherwise, Bitcoins are no different than WoW gold.

And yes you can absolutely use Crypto X Change as an ewallet - our security is second to none.

Thanks,
-Crypto X Change

That's what I thought. It is probably why all of these bitcoin laundering sites are still up. Thank you.

Hello Joint,

Good questions.

Answer for 1 & 2: We would attempt to reimburse stolen money using a combination of Crypto X Change's own assets and the indemnity and liability insurance we hold with our insurance company (and I believe Crypto X Change is the only exchange with such insurance). As with any business, in the case of a massive loss or devastating attack, if insurance and company assets could not reimburse customers fully, the business would go bankrupt and customers would likely suffer partial losses. This is the reality of any market entity not backed up by something like the FDIC which provides ultimate protection via taxpayer subsidy.

Answer for 3: In this case, if your own account info was leaked via your own negligence, then we would be unlikely to compensate you for that loss. We recommend a Yubikey to prevent this.

Hope that helps address your questions, thanks Joint.
-Crypto X Change

The website will be fully redesigned in the near future - we want our customers to always be thrilled with the functionality and aesthetics of the site.

Thanks damnek,
-Crypto X Change

sell me some bit-coin cryptoxchage please