(as of 20160119, this service is currently suspended as we are looking for new hosting options. We apologize for the downtime)

Greetings!

Onemorexmr, fluffypony and I made a new service called BuyMonero.net. Essentially, this is a bot that buys Monero for you on the exchange (currently Poloniex) so you don’t have to constantly watch the markets to get Monero at a good price.

Instead, you can program the bot to buy a certain amount of XMR per day. Over the course of weeks or months, you will (theoretically) obtain your Monero at a lower cost than if you were to place large buy orders. This is known as the  cost average effect.

The service is designed to require no more trust than is already in the exchange system. The service works through the API of the exchange, meaning that you deposit your BTC to the exchange (Poloniex) in order to purchase Monero. Essentially, BuyMonero.net never has control of your bitcoin. Furthermore BuyMonero.net also can’t touch your Monero in your exchange account. Additionally, you login to buymonero.net using your Poloniex API key!

How it works: you fund your exchange account with bitcoin, and you fund your BuyMonero.net account with XMR (using a specific payment ID that is provided). The current fee for this service is 1% -  1 XMR per 100 XMR purchased.  For example, if you deposit 5 XMR in your BuyMonero.net account, your bot can purchase 500 XMR on the exchange (if you deposited enough BTC in your poloniex account!)

The total time to set up your BuyMonero.net bot is approximately 10-15 minutes (mostly waiting for the bitcoin to transfer), but you’ll essentially never have to deal with the Poloniex interface again! Once its set up, you can simply deposit more bitcoin in your Poloniex account and deposit more XMR in your BuyMonero.net account. The only time you’ll have to login to Poloniex is to withdraw your Monero!

If you are interested, please check out the website:  BuyMonero.net

Any questions, please feel free to ask. Also, new service suggestions welcome, glitches may be possible but will be fixed and fast. For general troubleshooting, please use the forums (as this will encourage community assistance). But do not post your payment IDs!

Screenshot of user adjustable bot settings:

Interesting! Is the bot user-programmable?

Excellent service! I've registered and looking forward to programmable bots 

as usual poloniex keeps their fee.
we take our fee from the amount bought (not from your poloniex account ofc).

you are welcome

To award early adopters, we are offering a 3 for 1 promotion! (Buy one, get 3!) This is also to draw attention to our improved functionality (option to spend a certain amount of BTC per day).

What does that mean?

That means we will triple the amount of XMR deposited in your buymonero.net account. So if you deposit 1 XMR, we will add 2 XMR to it for a total of 3 XMR of bot buying power!!!! If you deposit 10 XMR, we will add 20 XMR to it!



How do you get this promotion?

1. create a new account using the following link:

BuyMonero.net/promo

For detailed instructions on buymonero.net function and how to setup account, please see BuyMonero.net
NOTE: you must deposit monero in your buymonero.net account in order to receive the promotion. This is part of setting up the account.

2. Copy the unique PROMO code.

3. Paste the following into your signature:

4. Post the unique promo code on this thread. This will verify that you have added the above to your signature.
NOTE: This must remain in your signature for at least 3 weeks. If it is removed before then, we can deduct the promotional amount.

5. We will add the additional amount to your buymonero.net account. (This might take a while, but we will add it within 12 hours)
NOTE: At no point can you withdraw from your buymonero.net account


We are not tripling the amount of XMR that a given amount of BTC can buy. We are tripling the bot functioning time that a given amount of XMR can buy. The bot fee goes from 1% to 0.333%

Fine print:

We will add a maximum of 20 XMR. If you deposit 5 XMR, you get 10 XMR for a total of 15 XMR. If you deposit 10 XMR, you get a total of 30 XMR. If you deposit 20 XMR, you get a total of 40 XMR. If you deposit 50 XMR, you get a total of 70 XMR.

Promotional offer ends 4/12/2015 at midnight US eastern or until supplies last.

You MUST copy the unique promo code! Please don't forget this!!!

All existing customers are receiving this promotion. Thanks for signing up so early!

No sock puppets! Limited 1 per bitcointalk signature. If your bitcointalk account was made after 7 AM US eastern 4/10/2015, we will not honor promo code.

I feel like I'm channeling my inner Billy Mays

Cool. I deleted my quoted response to clear up potential confusion. We will use the new code you posted.

i have received your mail and have set your promo code to the code mentioned in the quote above.

thank you for trying us and welcome!

edit: it was a kind of message but no mail

due to poloniex rate limiting we dont request your balance that often (we have to do this requests once per customer).

we requested it once when you create your account (i guess you funded your poloniex account afterwards - which is perfectly fine).

as soon as your "time window" is reached our bot will check your balance a few seconds before he tries to buy and starts buying if there is enough btc available.


thank you for pointing that out.

To award early adopters, we are offering a 3 for 1 promotion! (Buy one, get 3!) This is also to draw attention to our improved functionality (option to spend a certain amount of BTC per day).

What does that mean?

That means we will triple the amount of XMR deposited in your buymonero.net account. So if you deposit 1 XMR, we will add 2 XMR to it for a total of 3 XMR of bot buying power!!!! If you deposit 10 XMR, we will add 20 XMR to it!



How do you get this promotion?

1. create a new account using the following link:

BuyMonero.net/promo

For detailed instructions on buymonero.net function and how to setup account, please see BuyMonero.net
NOTE: you must deposit monero in your buymonero.net account in order to receive the promotion. This is part of setting up the account.

2. Copy the unique PROMO code.

3. Paste the following into your signature:

4. Post the unique promo code on this thread. This will verify that you have added the above to your signature.
NOTE: This must remain in your signature for at least 3 weeks. If it is removed before then, we can deduct the promotional amount.

5. We will add the additional amount to your buymonero.net account. (This might take a while, but we will add it within 12 hours)
NOTE: At no point can you withdraw from your buymonero.net account


We are not tripling the amount of XMR that a given amount of BTC can buy. We are tripling the bot functioning time that a given amount of XMR can buy. The bot fee goes from 1% to 0.333%

Fine print:

We will add a maximum of 20 XMR. If you deposit 5 XMR, you get 10 XMR for a total of 15 XMR. If you deposit 10 XMR, you get a total of 30 XMR. If you deposit 20 XMR, you get a total of 40 XMR. If you deposit 50 XMR, you get a total of 70 XMR.

Promotional offer ends 4/12/2015 at midnight US eastern or until supplies last.

You MUST copy the unique promo code! Please don't forget this!!!

All existing customers are receiving this promotion. Thanks for signing up so early!

No sock puppets! Limited 1 per bitcointalk signature. If your bitcointalk account was made after 7 AM US eastern 4/10/2015, we will not honor promo code.

I feel like I'm channeling my inner Billy Mays