Tradehill & SEPA transfer

[stellan0r]

Hi,

maybe someone has experience with the following already:

It is unclear to me if I have to trade in EURO on Tradehill to use SEPA withdraw, or if I can trade in USD (or any other currency offered on Tradehill) and still withdraw with SEPA transfer (where the bank is responsible to convert USD to EURO).

Has anyone used EURO SEPA withdraw on Tradehill yet? And if yes, in what currency did you trade your BTC on TH? USD? Euro? Something else?

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[stellan0r]

no matter, there already is a thread about that

http://forum.bitcoin.org/index.php?topic=30198.0;all

[nmat]

Currently they have different markets for different currencies. So yes, you must trade in USD euros. But I think they are considering the conversion to/from USD...

[stellan0r]

Currently they have different markets for different currencies. So yes, you must trade in USD. But I think they are considering the conversion to/from USD...

wait, you just said I must trade in USD (and can still do a SEPA withdraw?!)

By now I thought you can only do SEPA with Euro from the Euro - BTC market on tradehill. I hate confusion   

[nmat]

Sorry. Misspell. I mean "you must trade in euros"  You only do a SEPA transfer with euros and, with euros, you can only buy bitcoins at the EUR market.

[Jered Kenna (TradeHill)]

Thanks for clarifying it.
Currently we only allow EUR to be withdrawn to SEPA but given time we will allow internal conversion and withdrawing either currency in Europe.
We need to confirm with our lawyers and allow time to build up liquidity in the EUR market.

It's on our list but if we rush in to it and make a serious mistake no one wins.
 
EUR seems to be picking up speed though, TradeHill EUR should be the 3rd biggest market soon.

Jered

[stellan0r]

Thanks for clarifying it.
Currently we only allow EUR to be withdrawn to SEPA but given time we will allow internal conversion and withdrawing either currency in Europe.
We need to confirm with our lawyers and allow time to build up liquidity in the EUR market.

It's on our list but if we rush in to it and make a serious mistake no one wins.
 
EUR seems to be picking up speed though, TradeHill EUR should be the 3rd biggest market soon.

Jered

Thanks for the answers.
Some people also don't have in mind that the money on a SEPA account has to come from somewhere, and this is most likely not you traveling from wherever you live to Europe with a bag full of cash to fill that account, but from people in Europe putting money into that account for buys - others get that money for their sales.

But you should move some money from your main account to your sepa account, just to have a backup. Not being able to pay out your customers is highly unprofessional

[Jered Kenna (TradeHill)]

Thanks for clarifying it.
Currently we only allow EUR to be withdrawn to SEPA but given time we will allow internal conversion and withdrawing either currency in Europe.
We need to confirm with our lawyers and allow time to build up liquidity in the EUR market.

It's on our list but if we rush in to it and make a serious mistake no one wins.
 
EUR seems to be picking up speed though, TradeHill EUR should be the 3rd biggest market soon.

Jered

Thanks for the answers.
Some people also don't have in mind that the money on a SEPA account has to come from somewhere, and this is most likely not you traveling from wherever you live to Europe with a bag full of cash to fill that account, but from people in Europe putting money into that account for buys - others get that money for their sales.

But you should move some money from your main account to your sepa account, just to have a backup. Not being able to pay out your customers is highly unprofessional

Exactly, there won't be any buy orders put in that aren't covered by deposits that people have submitted so it won't be a problem.

Jered