Using Bitcoins for a Money Transfer Business

[papiriki]

I run a registered money transfer business, remitting from Australia to Africa (USD). Australian banks have not been keen to offer banking facilities to MTAs and I think bitcoins could help bypass this hurdle. Here is a model I got from another website. I have modified it to suit the AUD/USD while incorporating Bitcoins

•   Our Entity offers Money Transfers to Africa (USD).
•   A customer logs on to our  Website and initiates a transfer.
•   They want to send US$ 1,000 out to someone in Africa and we quote them in AUD.
•   Our Entity takes AUD received from the client and concerts them immediately into Bitcoins. Then take the bitcoins and convert to USD, SWIFT them to our payout partner (Bank) in Africa.
***The step above is assuming that we can have access to up to date buy and sell prices of the bitcoins.
•   Once the swift payout has been confirmed, the USD are released to the beneficiary.
Our Compliance is up to scratch because we have relationships with reputable banks in payout countries and we are regulated in Australia and in the payout countries.

Here is my concern,,,

1.  On average we trade USD25K daily and more month end and peak periods (when people pay fees and christmas for example), Is it possible to trade such amounts in bitcoins? Most sites I have been to they is a limit.
2.  With traditional currencies it is possible to get data feeds with mid-market rates which we use to set out selling rates, is there such a thing as data feeds for bitcoins?
3. Is there a volume supplier of these coins out there? Most sites I have been to seem to be displaying individuals who deal in small volumes

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[XinXan]

As far as i know, in btc-e, for exmple, there is no limit on how many bitcoins you can trade each day, there are some limits on how much money you can withdraw per day with paypal but not in banks.

[Amph]

for limit any exchange on which you put your id and proof of residence can allow you more than the limit you're requesting, so unless you have a problem with reveling your identity it should be fine

for datafeeds http://www.btcdatafeed.com/

you mean something like coinmarketcap? that display the volume of every coins?

[noel57]

As far as i know, in btc-e, for exmple, there is no limit on how many bitcoins you can trade each day, there are some limits on how much money you can withdraw per day with paypal but not in banks.

It seems btc-e.com have already changed that policy they now have a withdrawer limit and delay fund more than usual now.

[XinXan]

As far as i know, in btc-e, for exmple, there is no limit on how many bitcoins you can trade each day, there are some limits on how much money you can withdraw per day with paypal but not in banks.

It seems btc-e.com have already changed that policy they now have a withdrawer limit and delay fund more than usual now.

Dude, that's what i said, i said they do not have TRADING limits, you can sell 100 or 1000 bitcoins for dollars, they do have withdrawals limits.

[noel57]

As far as i know, in btc-e, for exmple, there is no limit on how many bitcoins you can trade each day, there are some limits on how much money you can withdraw per day with paypal but not in banks.

It seems btc-e.com have already changed that policy they now have a withdrawer limit and delay fund more than usual now.

Dude, that's what i said, i said they do not have TRADING limits, you can sell 100 or 1000 bitcoins for dollars, they do have withdrawals limits.

You are absolutely correct, there is no trade limit but withdrawer limits.

[wolfwere]

there is a delay on BTC-e now! It takes ages to process.