Bitcoin Forum

I think it's odd that most Bitcoin exchange sites end up getting shut down for one reason or another, but BTC-e, the one that seems the least reliable and has owners that have remained anonymous, has been the site that has outlasted all the others. What do you think about BTC-e? Who do you think runs it?

"This lack of transparency has created confusion over who exactly is behind the exchange – the owners apparently wish to remain anonymous, using a long chain of banks and intermediaries to process deposits and withdrawals."

- http://www.coindesk.com/btc-e-exchange-banking-issues/

I think it's possible that BTC-e is run by a government either as an experiment in hopes of achieving something larger out of it or because their own economy is struggling and they are looking for a way to positively effect their economy. Maybe it isn't BTC-e but I think there are governments involved with Bitcoin.

built on nothing, and high fees

that is my impression to btc-e, just if they cut the lines, you can't find them, and your money

It is running from long time and genuine site. There are many new sites launching it is better to avoid new sites

It'll probably get taken down eventually. I'm surprised it hasn't already disappeared for whatever reasons though.

It is the best site to trade Bitcoin on well imo that is where i feel safest trading and kind of at home, i really do not mind who runs it they do a good job who ever it is and as they stay anonymous the only time they shut down is if they run!

They have plenty of chance to do that everyday and could have when the price was higher with alot more to gain but still remain strong.

Well done BTC-E  8)   

best exchange for me. love them!

I've heard that it's been a fairly reliable exchange, but the operators are anonymous. So if they disappear, don't expect to see your bitcoins again that were stored there. It seems that BTC-e is one of the few exchanges that offers PayPal withdraws though, but they offer it with hefty fees.

its a trustful site..and genuin too..I have used it a lot of times....but as we know nothing is 100%safe in the world so there maybe some disadvantges too...which will arise in future

i can say that it is one of the exchanger with great volume
owner is anonimous and everything is pretty suspicious
good thing is everything went smoothly till today
bad thing, once they unplugged the line than its game over for everyone

It's not like the person(s) running the exchange being known will keep your coins safe either. Take gox and Karpales for example.

i belive it a good exchange , i respect the fact that they wanna remain anonymous , however never keep money there and you should hopefully be fine . nothing is safe though and threat it with respect : >

Best exchange for me.

"CoinDesk has learned that BTC-e does not use a bank account with a company name, instead choosing to use a third party to provide banking services."

This itself sounds fishy and I don't feel it is a reliable way and does not have a good future. I would not use it for exchange.

No. Using an intermediary is smart, a) they can change it easier b) they don't have to do AML/KYC themselves, the financial provider does it indepentently, so btc-e does not store your personal info, the intermediary on the other hand is not a bitcoin exchange so it will not get hacked so your info is safer.

Look at other exchanges, their banks pressure them or close their accounts.

Also their fees are not high, Nrcewker, other exchanges are much more expensive than 0.2%

I really want to use BTC-e.com, but the first fund I wired to the exchange was lost. I wire transfer USD $4500 to BTC-E.com back in 1/5/2015. My bank has confirmed that the fund was deposited to the Mayzus Financial Service Limited. I open a BTC-e.com ticket (#UHV-108-63758) but the customer service in BTC-E.com insisted that the fund was not received. "Banks will continue talk" it said. Well, I don't know how long will it take....

I'd be pretty reluctant to use it myself, but I think it'll be ticking away in a quiet corner of the market long after many of the present players have turned to dust.

Just look at their daily volume and calculate their daily profits from fees that are 0,2%. There is no reason for them to run off, they have been giving me
nothing but best support and trading for years.

There were cases of theft/hack, and they covered all losses on their loss, and i remained as their user til today.
It sure is funky that the owner wants to remain anonnymous, but if they do as they promised, things will become more transperant regarding them for sure:

snip from https://btc-e.com/news/199
"The company plans to soon begin to publish publicly available statements certified by external auditors."

I realy hope they provide as promised.

cheers

It is a genuine site as of now and even though the owners are anonymous, the website looks good enough for exchange but it does not have a long life. Hope it lasts long as very few websites are reliable exchangers.

I believe they are able to stay around as they make a fairly steady amount from the trades on their site and have no need to run off atleast in the short term.

i was getting in to it last year, but i realized that it wasn't that good, fee are high and require documents to do anything, also not very euro friendly

I see what you mean not euro friendly wish they would hurry up and implement the euro's, oh they already do  ;)

Can you explain why they are not friendly please?

Also what exchange have you gone to that require 'no documents' to do anything?

Thanks

if so, why did they register it in Bulgaria? This is not to be understood that they should have registered the exchange in Russia, but Bulgaria is obviously not the best option available to register an exchange in if you happened to be a Russian government (actually far from it).

They've been around since 2011 despite many other exchanges having collapsed since then. I like them and I used to have an account with them until I realized it would be easier for me to just use LocalBitcoins instead. Their operators prefer to be anonymous which is a bit of a double edged sword. On the plus side, it means that it will be more difficult for them and their site to be targeted by malicious governments who might seek to shut them down. Downside is that the operators could easily run away with their customers' funds and get away with it too (although as someone else here pointed out, just because a business has a known address its operators are known doesn't mean that it won't end up being a scam or otherwise collapse).

Many people don't know this but BTC-e was hacked in 2012. However, they were able to reimburse all of the stolen bitcoins from their own pocket. They handled the situation very well which was something really rare back then, and the fact that they're still going strong today deserves some credit IMHO.

I took it since BTC-e is a Russian corporation they were registered in Russia. What disadvantages and advantages are there to registering a Bitcoin exchange in Bulgaria rather than Russia or any other place? I think it's fully possible certain governments are heavily involved with Bitcoin because their own economy is struggling. It's also possible several country's are experimenting with it.

Legal entities are not allowed to deal with Bitcoin in Russia. If the exchange were set up by the Russian government, it would most likely be used to blackmail Russia once its ownership becomes known (look what happened to the South Stream gas pipeline project). Why take such risks?


The size of the Russian economy and that of Bitcoin are simply incomparable.

I not mean trading fee. it's fiat withdraw / deposit fee https://bitcointalk.org/index.php?topic=695082.0

for example fee is too high(1%) for euro and minimum withdrawal too(500euro)

kraken is miles ahead(basically no fee and minimum withdrawal is 50 euro), and i'm using it like no tomorrow

also kraken for me is very fast, sepa are resolved in less than a day some time(my best is 8 hours, i doubt any other exchange can do that)

Minimum fee = 100 EUR  :o

My impression?  When I think of btc-e, all I think of is the trollbox located on the right hand side...

ancient and stubborn

I have used btc-e it  is a pretty good and reliable site no complaints.

Looking at how much of a bully Uncle Sam is, this is not funky at all but very reasonable. i am pretty sure Kim Dotcom wishes he had operated his site anonymously, too. He never set foot in the US, but the bastards attack him across the globe...

This is not much different from North Korea kidnapping people from Japan, just that Uncle Sam does it on a much grander scale.  >:(

I don't think common law would apply to governments dealing in Bitcoin. That would probably be the whole point of staying anonymous or unknown altogether as well as taking the steps necessary to stay incognito.

BTC-E has been just about the most reliable exchange out there.  Having lost money to Jon Montroll's bitfunder scam, and BTC at Gox, and other exchanges I have used either hacked or 'hacked', I don't have any complaints against BTC-E.

It being located where it is is also a BIG positive, not a negative. Russia and Belarus etc are some of the few areas that are not under complete control of the American banking empire/government.

Best exchange imo

Lately I'm getting an error message when I attempt to withdraw BTC from btc-e. It says "Denied for this account. Contact support." So, I did.

They want:
1) transaction history (at least the last three (3) transactions)
2) the methods of deposit
3) the history of IP entries; and
4) the screenshot of the payment system I used to make a deposit to my account

So how to get the history of IP entries on btc-e?