New Fast Bitcoin Exchange in the Netherlands

[peter12870]

Hello Bitcoin users,

We have trade at mtgox for sometime and we encountered the problem that transfers in and out of mtgox takes long to process. 

For this reason we have built a brand new Bitcoin exchange and start operating in the Netherlands under the Dutch financial regulations. We have build in advanced security systems to guarantee safety at all times, for all users.

Our trading-engine trades in real-time (no lag) so margin trading is possible.
We have an intensive relation with ING bank in the netherlands to speed up transfers in and out of the exchange.
With the assistance of ING bank we can accept and transfer Euro and US dollar.  Our exchange handles trades in both currencies. We will add other currencies and transfer methods in the next 6 months.   

We would like to have some trails running and would like feedback to improve the exchange to your needs. The trial period will take until 31 july 2013. In the trial period we will use a trade fee of 0% so you can try the exchange for free. In august we will start operating at a trade fee of 0.45%.   

If you want to help us to create an exchange that works for you, please create an account and test it. We would like you to put your suggestions, remarks and wishes in our ticket system,  You can find it on the contact page or you send an email to info@fbtcexchange.com

Help us so we can help you.

You can find the exchange at https://fbtcexchange.com

With kind regards,

FBTC Exchange

[1715264367]

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[1715264367]

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[wksantiago]

Will Two-Factor Authentication be supported?
Thanks,

[adamas]

Good to see a new exchange, but how will you avoid to get into the same troubles as bitcoin-24 or bitc-central?

[Panoramix]

Happy to see a Dutch initiative but before I send you any of my hard earned cash I need to see yubikey- and google authenticator support. Also, boasting that "Kosten noch moeite zijn gespaard om ervoor te zorgen dat uw Bitcoins veilig zijn" doesn't tell me much if you don't explain what exactly you do to keep our funds safe. Convince me.
Otherwise it looks very promising. Keep up the good work.

EDIT: Nevermind the remark about the security. Found the page: https://fbtcexchange.com/safe

[jayjay2244]

will you support GBP?

[mintymark]

Great news. We need more exchanges.

So I am a little worried about people stealing my cash on exchanges, for this reason I would like the concept of binding a bank account to a account to be a 1 time event. You add your bank account for withdrawal purposes at account creation time, and thats it, its unchangeable.

Did I say unchangeable, well , ok its a SLOW event, that takes many days and involves email or sms notifications. or other security.

I'd like the adding of a bitcoin address to be similarly immutable. You can add a bunch of them, they get used in rotation, but once added you cannot add more, or maybe over a few days.

So your account is hacked, what can they do. Withdraw your money to your accounts, or trade your money, thats all.

I want to be able to choose the password I use - none of this oh it must be upper / lower case and contain an underscore business, remembering passwords is hard and resetting them ought to be hard, and I need to
freely choose the password or I cannot remember it.  Warnings about too short are fine and should preferably be grounded in terms of it would take X hours of computer Y to crack that!!

I'd like 2 factor confirmation of any withdrawal, via my email, send me a pin!

Good luck with your venture.

[peter12870]

Two-factor authentication will be supported in a few days. Then every transaction and change of your accounts will be in the two-factor authentication.
We have taken extensive precautions to prevent what happend to Bitcoin24 and Bitcoin-central.

It is part of our security that we can't tell you exactly how our security works to keep your Bitcoins safe.
We have many security audits on our system and our hot-wallet is empty most of the time.
The Bitcoins in the hot-wallet are guaranteed during a transaction.

GPB will be supported in a few weeks. for now we start with EUR and USD.

In case of a change of bank-account we will ask for verification of the account before we proceed transferring funds to the bank-account.
Next to that we have a four-eye system on all outgoing transactions. When there is an abnormality we will contact the account holder to verify.

[adamas]

In case of a change of bank-account we will ask for verification of the account before we proceed transferring funds to the bank-account.
Next to that we have a four-eye system on all outgoing transactions. When there is an abnormality we will contact the account holder to verify.

The downside that keeps me from registering now is that everybody is invited to open a verification-free account, but at the first abnormality, the user/trader is forced to verify his acc or he will not be able to withdraw his money anymore.
What will you do with his money in this case?

[Gws24]

Ok, there is also a thread in the dutch subforum started by peter about this and there are some questions for this new exchange:

- there is no chamber of commerce number (or in dutch 'kamer van koophandel') on the site which we can check. (every company in the netherlands is required to have one)
- If you search the contact address you get a hosting provider: denit.nl
- Part of the dutch version is in english and some of the dutch is iffy
- In the terms of use under privacy they speak of the Federal Data Protection Act (no dutch version for the terms of use). There is no law in the netherlands that is called that and we don't have a federal government; just a government. The law they are looking for is 'Wet bescherming persoonsgegevens' which loosely translates to 'Law for the protection of personal data'.

Personally I wouldn't trust my money or bitcoins to this company because it looks like a scam.

[peter12870]

Like i responded in the dutch section of this forum. i will reply to the questions and remarks.
We are currently still working to process all requests and improvements to the site so i will reply daily but not always immediately.

it is not necessary to announce your chamber of commerce number. but for everyone who wants to know just search for "FBTC" in http://www.kvk.nl

I rent an office in an office center where denit.nl is also located (next to other compagnies). Do not see why that is abnormal.

The only english in the dutch section is the explanation of bitcoin in the FAQ section and the legal terms. The text in the FAQ is very clear  and i did not want to make it worse by translating it.
That some of the dutch language is iffy... i cannot command on that. We try to be direct and transparent without long statements.   

The terminology in the terms of use where GWS24 referred to is  "Wet bescherming persoonsgegevens" or "Personal Data Protection Act" like google translates it.
What does "personal data protection act" say? That i personal protect your data.... In fact there is, like GWS24 stated, a law in the netherlands to protect personal data.
We have consulted our lawyer about this and therefore we choose to use the fraise "Federal Data Protection Act".   Just to point out that not we, but our government regulates the protection of personal data. We only comply to that law.

I can not change the fast opinion of GWS24 based on some loose remarks.  We are a legit business trying to build up and trying to urn your trust, now and in the future.

Answer of the post by Pankkake: Our password requirements are there to protect your account. if you have problems with  signing up, i will gladly give you some explaining. The other new users today did not have any problems with signing up.

If there are more questions or remarks i will answer them in the correct mather.



     

[atomium]

im happy to see new exchanges popping up all over the world, keep up the good work!

[Gws24]

In the dutch thread Peter responded professionally which makes it look less likely to be a scam but as also said there by another user he should talk to his lawyer (or fire him) because companies are required to mention there chamber of commerce number in all correspondence including websites. Furthermore the offical name of the privacy law in dutch english is 'Dutch data protection act' (source: http://www.dutchdpa.nl/pages/en_ind_wetten_wbp.aspx) not something you think sounds better.

Peter, as I said in the dutch thread I like your idea and would like it to succeed but transparency about who you and your company are is vital when you want to gain the trust of people if they are to trust you with their money and bitcoins (hence my initial reaction to your announcement).

[adamas]

If there are more questions or remarks i will answer them in the correct mather.

Please take a stand on the mentioned issue:

In case of a change of bank-account we will ask for verification of the account before we proceed transferring funds to the bank-account. Next to that we have a four-eye system on all outgoing transactions. When there is an abnormality we will contact the account holder to verify.

The downside that keeps me from registering now is that everybody is invited to open a verification-free account, but at the first abnormality, the user/trader is forced to verify his acc or he will not be able to withdraw his money anymore. What will you do with his money in this case?

[peter12870]

Hello Addams

A verification-free account has the standard limits of EUR 500 in the account and EUR 2000 out of the account per day.
An abnormality is if the user changes his/her bank account before a withdrawal order is made.
We will then ask the user to verify if the change of the bank-account is legit. This is only to prevent unauthorized withdrawals out of the account.
no validation is needed in this case. That verification is not a complete validation of users credentials.

We can not disclose the verification methods that we use in this cases. People with bad intentions can then take advantage of this.
The money in the account always belongs to the account holder so we want to secure it at all times and pay it to the rightful owner of the account.   

So if there is no change of the connected bankaccount, there is no abnormality and you can withdraw EUR 2000 per day without additional verification.
 

Hope i answered your question. if you have other questions feel free to ask them and i will answer them.

greetings peter

 

[adamas]

Thanks for the informations.
If I had to change my bank account on and off, as I understand, you will ask for account verification but not for ID validation?

[peter12870]

hello Addams,

That is correct. you can add multiple bank accounts. Then you can choose to witch bank account you want to withdraw your funds.

you do not need to change it. Just add additional bank accounts.


greetings Peter 

[stelmoi]

it is not necessary to announce your chamber of commerce number. but for everyone who wants to know just search for "FBTC" in http://www.kvk.nl

It may or may not be "necessary", but it sure is good business practice.  (EDIT:  after reading the dutch thread, it seems it IS necessary according to Dutch law to give your KVK number in all company communications.)   

I did a search on kvk.nl Handelsregister for "FBTC", and only a company in Woubrugge, NL came up.  But your site has contact as Contactweg 131, 1014BJ, Amsterdam, NL.    

Where are you located? Do you have multiple office locations?  What is your KVK registration number?  Do you have multiple KVK registrations?

[peter12870]

Hello Stelmoi,

The Compagny is registered on the location in Woubrugge. But we rent a office in Amsterdam and we have an office in haarlem.

In the near future we will move with all locations to one office.

[ninjaboon]

Great news. We need more exchanges.
for this reason I would like the concept of binding a bank account to a account to be a 1 time event. You add your bank account for withdrawal purposes at account creation time, and thats it, its unchangeable.

http://www.miicard.com/ does that. I was talking to their Sales Manager last month.
They have offices in UK and US.
PM me if you need an intro.

[ninjaboon]

Would be nice if a phone number is added : https://fbtcexchange.com/contact
Newbies stumbling on Bitcoins like to talk to people for guidance.