Bitcoin Forum

According to
http://www.bitcoincharts.com/markets/
Crypto X Change is now in 3rd place in 30-day volume of BTC/USD. Why do you think they've been able to gain volume so quickly? What do you like or dislike about Crypto X Change? Personally, I'd like to see them offer native deposits and withdrawals via Dwolla.

- $5 AUD charges is just awesome for wire transfers.
- MtGox code redeem and withdraw at 0.6% is cool

Yea theres a lot to like about this exchange.

they have this good result because of free commission fee for this month.

but this promotion will be disabled soon. at the end of 31/01/2012

While $5 is definitely good for wire transfers I'd call the MtGox code redemptions not good at all and damaging to their trade volumes. If they want to compete with MtGox then they should be making deposits / withdrawls like that free. Charging for transfers that cost them nothing (assuming they maintain a balance there) simply causes wider spreads and makes arbitrage / market making activities less attractive.

If they truly want to grow their market and have it compete with MtGox then the slight overhead to process MtGox transfers by maintaining a balance there should be treated as promoting liquidity. Right now it's a bit like a bank charging to make a deposit. Or a brokerage - no brokers that I know of charge a fee to deposit.

Bank fees and wires I understand as it's not up to them. Otherwise they should do every thing they can to make the spread and transferring funds as low as possible. Every deposit is potentially many, many trades where they do get a commission. Every deposit not done due to losing the fee is a loss of further trade volume.

It's the only thing that really stops people from trading there - slippage and fear they won't get a good price.


Having cheap 0.25 Dwolla deposits can be problematic (potential charegbacks) so I understand why they don't offer that but why not cheap Dwolla direct withdrawls? It's one of the main reasons I use MtGox - I can get my money out cheaply. And I don't think there's any reason not to offer that direction. Again, they just have to maintain a Dwolla balance to provide that feature.

Stop whining about everything. When you're a grown up your time is valuable, and it's also not free to keep the MtGox account funded.

Huh? That makes no sense as I was only indicating why it's to their advantage to make it free - just like it's free to put your money in a bank so they can lend out multiples of it to others. Making it cheaper to transfer money in from MtGox can only help in trade volumes and liquidity, which are the primary reasons people would shun from trading there.

They obviously understand that for the wire transfers as otherwise they wouldn't make such a big advertising deal of that. Since it's possible to handle MtGox codes for free it makes sense for them to do that. They'd have increased numbers of MtGox users moving money into cXc to do trades because of the lack of slippage.

BTW At 50 years old I have a pretty good idea of what being an adult involves. Dick.