- We would like to announce the launch of
Bitcoin-exchange.info site. Bitcoin-Exchange.info is a bitcoin wallet and an exchange, in the same time. You don't need to open an account. Just press Start on the first page and the system will open your account, just like Instawallet. You still need to bookmark the url wallet address in order to access your funds.
- We have also added some security measures like two-factor authentication by email, alerts, ip-based access and so on (we dont want to end like Instawallet).
- You can deposit / withdraw cash by Wire Transfers and WesternUnion. For WesternUnion withdrawals, you can get the cash in 3-6 hours. For International Wire Transfers it take up to 5 business days for a transaction to clear.
-Usually, all new exchanges have 90% chance to fail because of a very old and serious problem known as "chichen and egg". Sellers want to find buyers. Buyers want to find sellers. As fast as possible.
Big established exchanges have around 2000 traders IN THE SAME TIME ONLINE. A big number of users online in the same time creates liquidity. Liquidity is the most important aspect of an exchange. Not the fees, ddos attacks or customer support. Without liquidity, the best exchange WILL FAIL in 2-3 weeks.
If you are a trader and your market order is not executed in 2-3 minutes on that new great exchange, you will wait in line for MtGox to come back online after a new 100GBps DDOS and use MtGox, because your market order order is executed in 30 seconds, there.
Trying to bring 1-2k buyers and sellers online on a new exchange is lunacy. You can't do it. So we came up with a simple system that guaranties liquidity. Usually, on an established exchange, you buy / sell bitcoins from / to other traders. On bitcoin-exchange.info you buy / sell bitcoins from us. We instantly execute any order, any size, on the spot. But after each 1 btc you buy / sell, the market price increases / decreases with a specified value called market volatility. Any transaction you make WILL MOVE the market, even if you buy / sell 0.01 BTC
Let's take some examples :
Let's assume that market price is 100.0980, and the market volatility is 0.25 and you buy 4 btc. The new market price will be 101.0980, or if you sell 4 btc the price will decrease to 99.0980; Another important aspect is that you will buy the first bitcoin at 100.0980, the second at 100.3480 and so on...
Even if only 2 or 3 traders will use bitcoin-exchange per day, they will have orders instantly executed. The transaction fee is 0.25% but it can change if market volatility is changed.
Right now, Bitcoin-exchange is in open-beta stage, the payments / withdrawals are executed by our Bucharest development team, but starting May the new customer support / banking team will manage the site. Online customer support chat is available 6-8 hours / day.
Any suggestion / feedback is welcomed.
