WebMoney starts processing Bitcoins

[Vicus]

http://blog.wmtransfer.com/en/blog/wmx-the-new-type-of-title-units#.UZTP1Mq_Qmg

WMX – the new type of title units
Posted on 16 May 2013 by Пpecc-цeнтp   

The new type of title units named WMX has come into service at WebMoney Transfer system.

WMX is a unit of measurement delegated by WebMoney Transfer users and stored in the Guarantor`s (INDX Transactions LTD) storage for property rights to publish entries in the distributed transactional database of the bitcoin.org peer-to-peer network.

You can perform operations with X-purses using ether WM Keeper Classic ver. 3.9.9.1 or WM Keeper Light. WMX funding and withdrawal are available at wmx.webmoney.ru service.

Please read the rules of WMX funding/withdrawal and the Agreement on Property Rights Keeping.

After depositing bitcoins to be stored in the Guarantor`s storage, the WebMoney Transfer user can exchange them into WMZ, WME or to other title units at wmeng.exchanger.ru and make a purchase at any of tens of thousands online-shops connected to the System.

https://wmx.webmoney.ru/en-US#

WMX funding/withdrawal gateway

The service of keeping and transferring your BITCOIN ownership rights is provided by INDX Transactions LTD, the WMX Underwriter. The terms of service providing are set forth in the Agreement (Agreement on Property Rights Keeping), accepted by WebMoney Transfer system users upon creating X-purses. Your BTC ownership rights being kept are verified by depositing the corresponding amount of WMX (warehouse's receipts) on your X-purse. The Underwriter has set rates: 0.001BTC = 1 WMX.

Depositing WMX to your purse is executed by The Underwriter only after receiving over 6(six) bitcoin.org peer-to-peer network database verifications of your BTC transaction to the address provided by The Underwriter.

The Underwriter accepts any amounts of BTC for keeping, but depositing WMX to your purse is executed only for the amounts exceeding 0.0001 BTC.

Withdrawing BTC is possible only for the amounts exceeding equivalent of 1.00 WMX. The Underwriter’s withdrawal fee is 0.0005 BTC (paid by The Underwriter upon making a transaction).

http://en.wikipedia.org/wiki/WebMoney

WebMoney is an electronic money and online payment system (transactions are conducted through WebMoney Transfer). WM Transfer Ltd, the owner and administrator of WebMoney Transfer Online Payment System, was founded in 1998 and is a legal corporate entity of Belize. Originally targeted mainly at Russian clients, it is now used worldwide. The company claims to have more than 11 million users.[1]

[🏰 TradeFortress 🏰]

Yeah, this is a pretty good announcement. If the DHS continues to start targeting US exchanges, then Russia services may conquer the market.

[lucif]

Not accept, but process. They process bitcoin as one of their currencies.

[Vicus]

Not accept, but process. They process bitcoin as one of their currencies.

fixed

[lucif]

:cool: Here is my new Bitcoin purse at webmoney (last)

[fr33d0miz3r]

And actually we have the new Bitcoin exchange! https://wmeng.exchanger.ru

[lucif]

And actually we have the new Bitcoin exchange! https://wmeng.exchanger.ru

Literally! It is very liquid exchange.

[fr33d0miz3r]

BTW, bad news for Americans.

If you try to register new WM account from IP address located in the US, you'll see this message:

[fitty]

BTW, bad news for Americans.

Great news for Americans holding Bitcoins however. It's the Russian version of Paypal, they've been in business since 1998, and they're huge (over 11 million users). Best news this month.

[arsenische]

Yes, this is big. I tried webmoney long ago. It looked somewhat complicated, but it is definitely a big player with lots of exchanges and online shops that accept it. And their transfer fees are low.

[lucif]

And their transfer fees are low.

0.8%

[Dargumin]

OK so I'm in the UK and buying into bitcoin seems easiest by using localbitcoins or bitbargain.  However cashing out of bitcoin seems less straightforward.  Am I correct in thinking with the aid of WebMoney I could take my money to an online casino/poker site and then withdraw it from there?

[lucif]

OK so I'm in the UK and buying into bitcoin seems easiest by using localbitcoins or bitbargain.  However cashing out of bitcoin seems less straightforward.  Am I correct in thinking with the aid of WebMoney I could take my money to an online casino/poker site and then withdraw it from there?

You can put Bitcoin directly to your WMX purse or withdraw Bitcoin from there.

You can exchange WMX to any of WMZ/WME/etc and back.

You can pay/accept WMX for not blacklisted in WM Transfer TOS goods and services.

You can not use any of Webmoney title units to play gambling, it is prohibited activity.

[Vicus]

OK so I'm in the UK and buying into bitcoin seems easiest by using localbitcoins or bitbargain.  However cashing out of bitcoin seems less straightforward.  Am I correct in thinking with the aid of WebMoney I could take my money to an online casino/poker site and then withdraw it from there?

You can put Bitcoin directly to your WMX purse or withdraw Bitcoin from there.

You can exchange WMX to any of WMZ/WME/etc and back.

You can pay/accept WMX for not blacklisted in WM Transfer TOS goods and services.

You can not use any of Webmoney title units to play gambling, it is prohibited activity.

And you can use Webmoney Escrow
https://escrow.webmoney.ru/about.aspx

[giantdragon]

WebMoney is most the popular e-money system in Russia and some other Eastern European countries.
Good news for Bitcoin!

[lexxus]

There is currently a huge number of currency exchanges from/to Webmoney. And it's very competitive thus fees are low.
So it's a great news for Russia and CIS bitcoiners.

[BTC Books]

Let's back up a little.  This is not a "somewhat complicated" system - this is a very complicated system.

So I can put bitcoin in.  It becomes WMX.

I can trade it against WMZ (USD) or WME (Euro).

What can I get out, and how?  Do I have to take out only what I put in (bitcoin), or can I get out any currency that I have traded for - and, if so, how?  SEPA?

Of course my big question, being in the U.S., is can I use a VPN with a European exit node or Tor, and deal through a Euro account in the EU?  Not much point in learning the system if I can't...

Anyone have those answers?

[giantdragon]

What can I get out, and how?

In countries where WebMoney is popular you can easily find an exchange and receive money on you local bank account or even get cash (semi)anonymously.

Of course my big question, being in the U.S., is can I use a VPN with a European exit node or Tor

It is not easy, they require phone number verification.

[lucif]

Let's back up a little.  This is not a "somewhat complicated" system - this is a very complicated system.

So I can put bitcoin in.  It becomes WMX.

I can trade it against WMZ (USD) or WME (Euro).

What can I get out, and how?  Do I have to take out only what I put in (bitcoin), or can I get out any currency that I have traded for - and, if so, how?  SEPA?

Of course my big question, being in the U.S., is can I use a VPN with a European exit node or Tor, and deal through a Euro account in the EU?  Not much point in learning the system if I can't...

Anyone have those answers?

WMX is just an another Webmoney currency 1 WMX= 1mBTC. You can do with it whatever you want in terms of TOS. You can find a man with WMZ and do an exchange your WMX to his WMZ. You can open your own exchange WMX <=> WMZ. You can buy goods and services with WMX. And so on.

Its like a paypal announced they opened purses denominated in BTC (like they have in GBP,USD,EUR).

[fitty]

Let's back up a little.  This is not a "somewhat complicated" system - this is a very complicated system.

Very little reason for you to use it. It's an e-wallet. Used mostly in Russia. To buy things online, in Russia.

It's a Russian paypal. Accepted at the types of places Paypal is. Given that, it's not terribly useful for Americans.