Camp BX USA: Ask-Us-Anything Thread

[Keyur @ Camp BX]

Hi everyone,

    Camp BX is a platform where you can buy and sell Bitcoins for US Dollars in real-time.  We are an Atlanta - USA based company, and we are starting this thread with an intent to make our entire team's knowledge-base available to the newbie community.  If you have questions about trading, security, or technology behind Bitcoins or Camp BX then ask us here!


A little about us:
    Camp BX platform was designed from the ground up with stability and security as top priorities, and we became the first Bitcoin website to obtain Payment Card Industry (PCI) certification and the McAfee Secure seal of confidence on June 28th, 2011.

   For new traders we provide a "Quick Buy" or "Quick Sell" option.  Any buy or sell order that you place is matched against a database of other orders, and if a perfect match is found, a Bitcoin-to-USD trade is executed instantly. If there are no matching orders at the price you specified, then your order can remain open for up to 31 days. To maintain fairness in trading, we have taken a purely-platform approach and Camp BX is never a counter-party to any trade.

    We are also the first Bitcoin platform to bring advanced features like Margin Trading and Short-selling, and have several more exciting and innovative features in pipeline.

    There are no fees required to open a Camp BX account, so we encourage you to sign-up and try us out!

Thank you,
     Keyur
     Camp BX FAQ:  https://www.CampBX.com/faq.php

[1714114459]

1714114459

[1714114459]

1714114459

[1714114459]

1714114459

[grantbdev]

Any plans to be able to fund your account with a debit or credit card? (can any exchange do this?)

[bbit]

I'm about to buy some BTC   what is "quick buy" - also, how do withdraw work with you guys?

Thanks!

[Keyur @ Camp BX]

Any plans to be able to fund your account with a debit or credit card? (can any exchange do this?)

Grant,
     Credit and Debit card purchases can be canceled for up to 180 days.  In the early days of Bitcoin some scammers bought Bitcoins and then called their card company to cancel the charges/payment.  That is why all exchanges will be very skeptical to accept cards (same with PayPal).

     In order to fund your account, you have to use a non-reversible source.  Dwolla is backed by a credit-union in Iowa, so it has become the source of choice for most.

Hope this helps,
     Keyur

[Keyur @ Camp BX]

I'm about to buy some BTC   what is "quick buy" - also, how do withdraw work with you guys?

Thanks!

BBit,
     Quick Buy means that you specify a price, and we try to find a matching or BETTER price.  In trading terminology, this is considered a Limit Price order.   I would recommend skimming through this SEC Trading Basics guide: http://www.sec.gov/investor/alerts/trading101basics.pdf

    On a side note, Camp BX also supports both Market and Limit prices.  As you start trading more, you will find this feature indispensable.

Withdrawal is standard procedure: You send a withdrawal request, and we send the money to your Dwolla account.  We do not charge any fees for withdrawal, but Dwolla charges 25 cents.

Hope this helps,
     Keyur

[Smalleyster]

Just decided to give you a shot and my first comment is that the dwolla transfer only took  few minutes.

You made me do the arithmetic which is a petty negative on a buy order.

I truly do not understand what is so hard of allowing me to put in the amount of USD that I want to spend and tell you at what price and *you* calculate the USD*Price-comission= #btc in order.

Let's see how it goes!

[Keyur @ Camp BX]

Just decided to give you a shot and my first comment is that the dwolla transfer only took  few minutes.

You made me do the arithmetic which is a petty negative on a buy order.

I truly do not understand what is so hard of allowing me to put in the amount of USD that I want to spend and tell you at what price and *you* calculate the USD*Price-comission= #btc in order.

Let's see how it goes!

Thank you for trying us out Smalleyster - We are already working on a "Spend X-Amount" type of order that you mentioned.  Stay tuned for an announcement soon!

[lemonginger]

On a side note, Camp BX is the only exchange that supports both Market and Limit prices.  As you start trading more, you will find this feature indispensable.

I like CampBX (see my sig!) but this is not nec. true. VirWox for example offers bother market and limit orders.

Also can a mod move this out of newbies section, especially if this is to become the official CampBX Q&A thread?

[Keyur @ Camp BX]

On a side note, Camp BX is the only exchange that supports both Market and Limit prices.  As you start trading more, you will find this feature indispensable.

I like CampBX (see my sig!) but this is not nec. true. VirWox for example offers bother market and limit orders.

Also can a mod move this out of newbies section, especially if this is to become the official CampBX Q&A thread?

LG,
      Thank you for pointing out the VirWox feature: I was not aware of it, so have edited the post to correct it.

The intent of this thread was to keep it more of a general Q&A, so hopefully we can keep the discussion going here in this forum.

Thank you,
     Keyur

[lemonginger]

Lots of people don't tend to browse the "Newbie" forum, thought you might want in the regular general forum or under the "Currency Exchange" forum

[grantbdev]

Any plans to be able to fund your account with a debit or credit card? (can any exchange do this?)

Grant,
     Credit and Debit card purchases can be canceled for up to 180 days.  In the early days of Bitcoin some scammers bought Bitcoins and then called their card company to cancel the charges/payment.  That is why all exchanges will be very skeptical to accept cards (same with PayPal).

     In order to fund your account, you have to use a non-reversible source.  Dwolla is backed by a credit-union in Iowa, so it has become the source of choice for most.

Hope this helps,
     Keyur

That's understandable, but a company (and I must say you have the most valid-looking exchange) should be able to deal with that. People are using bitcoins to ship things, and even though you can't reverse the payment the person may not ship the items. So in my mind that counts on trust too.

Dwolla doesn't accept debit/credit either.

[random_cat]

   We are also the first Bitcoin platform to bring advanced features like Margin Trading and Short-selling, and have several more exciting and innovative features in pipeline.

  I have some questions about your nonexistant margin and short selling trading capabilities.  I am not normally a fan of vaporware, but consider these features important and wish to draw out the details.

  In your FAQ you describe the offering as liquidation of a margined position upon a 25% drop.  Am I correct in assuming that this is a 25% drop in BTC/USD from the opening position?  What notification can I expect to receive upon position liquidation (and what timeliness guarantee) so that I can reestablish my short for an additional 2%?

random_cat

[Keyur @ Camp BX]

   We are also the first Bitcoin platform to bring advanced features like Margin Trading and Short-selling, and have several more exciting and innovative features in pipeline.

  I have some questions about your nonexistant margin and short selling trading capabilities.  I am not normally a fan of vaporware, but consider these features important and wish to draw out the details.

  In your FAQ you describe the offering as liquidation of a margined position upon a 25% drop.  Am I correct in assuming that this is a 25% drop in BTC/USD from the opening position?  What notification can I expect to receive upon position liquidation (and what timeliness guarantee) so that I can reestablish my short for an additional 2%?

random_cat

RC,
       Thank you checking us out!  These features were available for testing during our two-week trial period on testnet, so they are certainly not vaporware.  We will enable them on livenet when volume improves above a certain point; at low volume they are hard to implement.

      You will receive email and text message notifications at 15% and 20% drops, and the trade will be liquidated at 25% drop.  Timeliness guarantees are not implied in this, just like your stock broker.  You can read a little more about this in "Margin Calls and how to avoid them" FAQ section.  Hope this helps!

Thank you,
     Keyur

[Keyur @ Camp BX]

Any plans to be able to fund your account with a debit or credit card? (can any exchange do this?)

Grant,
     Credit and Debit card purchases can be canceled for up to 180 days.  In the early days of Bitcoin some scammers bought Bitcoins and then called their card company to cancel the charges/payment.  That is why all exchanges will be very skeptical to accept cards (same with PayPal).

     In order to fund your account, you have to use a non-reversible source.  Dwolla is backed by a credit-union in Iowa, so it has become the source of choice for most.

Hope this helps,
     Keyur

That's understandable, but a company (and I must say you have the most valid-looking exchange) should be able to deal with that. People are using bitcoins to ship things, and even though you can't reverse the payment the person may not ship the items. So in my mind that counts on trust too.

Dwolla doesn't accept debit/credit either.

Grant - agreed.  I believe this can be part of the Bitcoin companies growing-up process!  We will certainly look into options to offer more traditional payment modes as we progress.

Thank you,
      Keyur

[elements]

Sometime ago you introduced your affiliate/referral program.

When will it be possible to see if and how many referrals one has generated.

Use Bitcoin 7 as reference.

Thank you!

[Smalleyster]

Could use change order option

I would prefer my orders not to expire unless I ask them to.

[Keyur @ Camp BX]

Could use change order option

I would prefer my orders not to expire unless I ask them to.

Change order is a great idea - we have added that to our priority list, and will follow up with you when we push it in to production!

You have the option to set expiry dates up to 31 days out.  However beyond that the expire option was intentional, with the reasoning that it will keep the orderbook more relevant to current prices.

Hope this helps,
      Keyur

[Keyur @ Camp BX]

Sometime ago you introduced your affiliate/referral program.

When will it be possible to see if and how many referrals one has generated.

Use Bitcoin 7 as reference.

Thank you!

Hi Elements,
        This change is already in testing - we should be able to push it out in production within couple of days!

Thank you,
      Keyur

[nmat]

I know that you weren't affected by the "Dwolla scam", but will you still continue to use Dwolla after their update to the Terms and Conditions stating that chargebacks can occur?

[Keyur @ Camp BX]

I know that you weren't affected by the "Dwolla scam", but will you still continue to use Dwolla after their update to the Terms and Conditions stating that chargebacks can occur?

Nmat,
      We proposed a 3-point solution to make rollbacks risk more manageable going forward, and Dwolla has shown willingness to implement all 3 by end of the week.  We take this as a very positive sign, so we are continuing to accept Dwolla deposits.  It is business as usual at Camp BX :-)

I will share more details after we tie-in over a phone call tomorrow.

Thank you,
      Keyur