Bitcoin on Oanda

[jubalix]

Also:

For your security, you can only withdraw funds by the same method you used to deposit them into your OANDA account.

If, as you quote Oanda, this remains true...

And if, as Mageant posits:

Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.

...they add it as a deposit method:

Then they become essentially an exchange for bears only.

BTC in > convert to dollars > wait for price to go down > convert back and withdraw BTC.

Makes no sense.  If they accept BTC in any way, they are almost forced to provide a full exchange - or lose money on fees buying the BTC to pay out.  Am I missing something?

Can't you buy BTC as well then on Oanda when this goes live

[BTC Books]

Also:

For your security, you can only withdraw funds by the same method you used to deposit them into your OANDA account.

If, as you quote Oanda, this remains true...

And if, as Mageant posits:

Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.

...they add it as a deposit method:

Then they become essentially an exchange for bears only.

BTC in > convert to dollars > wait for price to go down > convert back and withdraw BTC.

Makes no sense.  If they accept BTC in any way, they are almost forced to provide a full exchange - or lose money on fees buying the BTC to pay out.  Am I missing something?

Can't you buy BTC as well then on Oanda when this goes live

If it goes live, yes - but if you originally deposit in USD, then that's how you have to withdraw:  in USD.  Not a lot of bulls will want that - I certainly wouldn't - and the time and transaction fees spent putting your fiat somewhere else so you could buy BTC with them would seriously hurt the bottom line.  So it would look like:

USD in > buy BTC > cash out in USD when exchange rate goes up > send USD somewhere else to buy BTC > withdraw BTC

No thanks.

[jubalix]

Also:

For your security, you can only withdraw funds by the same method you used to deposit them into your OANDA account.

If, as you quote Oanda, this remains true...

And if, as Mageant posits:

Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.

...they add it as a deposit method:

Then they become essentially an exchange for bears only.

BTC in > convert to dollars > wait for price to go down > convert back and withdraw BTC.

Makes no sense.  If they accept BTC in any way, they are almost forced to provide a full exchange - or lose money on fees buying the BTC to pay out.  Am I missing something?

Can't you buy BTC as well then on Oanda when this goes live

If it goes live, yes - but if you originally deposit in USD, then that's how you have to withdraw:  in USD.  Not a lot of bulls will want that - I certainly wouldn't - and the time and transaction fees spent putting your fiat somewhere else so you could buy BTC with them would seriously hurt the bottom line.  So it would look like:

USD in > buy BTC > cash out in USD when exchange rate goes up > send USD somewhere else to buy BTC > withdraw BTC

No thanks.

but cant they send BTC >>> and exchange out through GOX

BTC is not covered by such regulations

and you would not be withdrawing USD either so its ok

[mc_lovin]

....aaaaand it's gone?

Did Oanda take it down?

[EndTheFed321]

To good to be true  No BTC on Onanda

[Mageant]

Bitcoin now on the Oanda currency converter:
http://www.oanda.com/currency/converter/

[chris_oanda]

Thanks Mageant! As the product manager for the OANDA currency converter, I'm excited that we've added Bitcoin to our currency converter. You can read more about our announcement on our blog: http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/.

Let me know if you have any questions or comments! I'm looking forward to feedback from the community.

Chris

[BTC Books]

Thanks Mageant! As the product manager for the OANDA currency converter, I'm excited that we've added Bitcoin to our currency converter. You can read more about our announcement on our blog: http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/.

Let me know if you have any questions or comments! I'm looking forward to feedback from the community.

Chris

Feedback?

From your blog linked in the parent:

Despite the increased awareness around the cyber currency, OANDA has no plans at this time to introduce Bitcoin as a tradeable currency to OANDA’s fxTrade platform, or to accept Bitcoin as a method for funding fxTrade accounts. By adding Bitcoin to our Currency Converter, we are acknowledging – in a very real way – the wide-ranging interest Bitcoin has generated as a virtual payment system.

Some people get in the swimming pool one careful, shuddering toe at a time.

Some people just jump the hell in.

Failure is always an option, but...

...which of those two types of people make the great fortunes of this world - and which become 'comfortable'?

Eh.  You pays yer money and you takes yer shot...

[DublinBrian]

Bitcoin is not showing up in the OANDA Currency Converter dropdown box for me right now. Im looking under "B". Am I doing something wrong?

[chris_oanda]

Strange, it should be there.

Do you mind clearing your cache? If that doesn't work, can you fill out http://www.oanda.com/site/contact/feedback? I'll reply and try to figure out why it's not showing up for you.

Thanks!

Chris

[DublinBrian]

Strange, it should be there.

Do you mind clearing your cache? If that doesn't work, can you fill out http://www.oanda.com/site/contact/feedback? I'll reply and try to figure out why it's not showing up for you.

I tried clearing cache. Still not showing bitcoin in dropdown box. Also I tried two different browsers Firefox and Chrome coming from two different IP numbers. Still not showing.

[metabyte]

It is not showing for me either.

[jubalix]

Thanks Mageant! As the product manager for the OANDA currency converter, I'm excited that we've added Bitcoin to our currency converter. You can read more about our announcement on our blog: http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/.

Let me know if you have any questions or comments! I'm looking forward to feedback from the community.

Chris

I would love BTC on OANDA, I have used your platform over many years and its generally very good, and stable

You can make a killing with gox which is at best a "part time" competitor.....

as long as you let people transfer BTC out easily

[miernik]

Is it showing up for anyone right now?

Not working for me any time I try.

I created a ticket with OANDA Technical Support, and they are asking for operating system and browser, but before I reply them, lets see if its working for anyone at all?

[cbeast]

http://www.oanda.com/currency/converter/ works for me. Using Mozilla Firefox on Win7.

[miernik]

Great. Is there anyone for whom it works who uses any kind of a GNU/Linux system?

[ghostshirt]

Great. Is there anyone for whom it works who uses any kind of a GNU/Linux system?

Works fine on Ubuntu 13.04 with Chrome.

[jubalix]

The historical prices by graph are really wrong.....must be daily averaged? but even that seems wrong

[m3ta]

Selling 130.000 USD    
   you get 1.00086 BTC
Buying 130.000 USD    
   you pay 1.00086 BTC

Warning: converter full of FAIL.

[roy7]

Just need one legitimate forex provider to start trading BTC and all of the other exchanges can go away.