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Author Topic: Introducing BitSimple. A simpler way to buy and sell bitcoins.  (Read 13983 times)
BitSimple_Support
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BitSimple. A simpler way to buy and sell bitcoins.


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November 22, 2013, 10:04:02 AM
 #1


BitSimple is a US based Bitcoin dealer, registered with FinCEN (#31000039896739), and available to US residents (excluding residents in VA).  Unlike a traditional exchange or peer to peer sales portal we are the counterparty in every trade so you can trade with confidence knowing your funds and confidential financial information is secure.  At BitSimple, we believe Bitcoin is strongest and safest when users maintain direct control over their own wallets.  You can now exchange bitcoins directly from your Bitcoin wallet.   Multibit, Electrum, bitcoin-core, Armory, blockchain.info, or StrongCoin, it doesn't matter; use the wallet you prefer and instant liquidity is still just a transaction away.  Long gone are the days of having to leave coins on vulnerable exchanges or wait agonizing minutes for deposit confirmations.  BitSimple will lock in a price instantly and settle once your transaction confirms so you can trade quickly even in fast moving markets.

Have an unexpected emergency and need cash in a hurry?  We offer disbursement options which will put spendable funds in your hand in hours not days like the other guys.  Looking to make a large acquisition of Bitcoins quickly?  We are the only service which can put purchased coins directly into your wallet (any wallet) in just hours.  Stop waiting days for funds to clear traditional exchanges, or risk having your purchases reversed due to vague claims of "high risk".  We make it simple and easy to purchase Bitcoins safely and quickly.

Buying Bitcoins (payment by Bank Wire only)
No fees.  No deposit fee, no exchange fee, and no withdraw fee.  We make it simple, we even cover any incoming wire fee.  The only fee you will pay is to your bank for sending a bank wire so check with your bank for details.  We know waiting for confirmations is never fun, so we cover a Bitcoin transaction fee of at least 100 bit per KB to ensure your purchased coins are confirmed promptly.

Selling Bitcoins (withdraw by Bank Wire, Standard or Overnight ACH, or PayPal)
Bitcoin transfer - no fee (although we recommend including a Bitcoin transaction fee of 100 bits per KB for fast processing)
Exchange fee - no fee
Withdraw fee - varies
    Standard ACH (Direct Deposit): no fee
   Overnight ACH (Direct Deposit): $12.99 flat fee per transaction
   Bank Wire: $25 flat fee per transaction
   PayPal: 1.9%

Isn't it about time someone made it simple to buy and sell bitcoins?



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January 03, 2014, 01:45:43 PM
 #2

 Will it operate the same as Fastcash4bitcoins did as that was my favorite site. They bought BTC at very close to MTGOX Price and straight to PayPal with no worries? Or will it be something totally different now?
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January 03, 2014, 01:55:53 PM
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what is it?
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January 03, 2014, 02:00:00 PM
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You selling Bitcoins? If yes, what paying methods you accepting
zneww
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February 26, 2014, 10:25:36 PM
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Has anyone used this?

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February 26, 2014, 10:54:47 PM
 #6

seems like its quite similar to bittylicious? Except for the fact they accept Paypal also?

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BitSimple_Support
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February 26, 2014, 10:57:31 PM
 #7

Has anyone used this?

I cant control if or when existing users will share their experiences but if you have any questions feel free to ask.  I am going to move this thread to service discussions.

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February 26, 2014, 11:25:38 PM
 #8

seems like its quite similar to bittylicious? Except for the fact they accept Paypal also?

We do not accept PayPal as a funding method for purchasing bitcoins.  We are simple not foolish. Smiley  The only funding method for purchases is a bank wire.  We are looking to add other funding methods but easily reversible methods like PayPal or credit cards will not be among them.

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February 26, 2014, 11:27:01 PM
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seems like its quite similar to bittylicious? Except for the fact they accept Paypal also?

We do not accept PayPal as a funding method for purchasing bitcoins.  Were simple not foolish. Smiley  The only funding method for purchases is a bank wire.  We are looking to add other funding methods but easily reversible methods like PayPal or credit cards will not be among them.

I just find it odd that no one has any feedback.

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DeathAndTaxes
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February 27, 2014, 12:00:50 AM
 #10

zneww,

Since the support account is tied up in noob timeout (360 second theymos really?) I will take a shot at it.   I think many of our users value their privacy and we have solid support on site including customer support chat from 8AM to 8PM EST.  That means most problems are resolved quickly on site and there is no need for someone to come to a third party forum looking for help.  That is the way I want to keep it but the downside of that is it is a little silent.  I am sure someone will post some feedback eventually.

BitSimple isn't going anywhere, it is well capitalized ( http://www.coindesk.com/tangible-cryptography-raises-600000-for-bitcoin-sales-portal/ ), and things are just getting interesting.
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February 27, 2014, 12:13:08 AM
 #11

BitSimple = BitSecurity.  

The TLS ("SSL") configuration on the application server has been tightened.  Support for SSL 3.0 has been dropped, along with support for RC4 cipher.  At this point RC4 should be considered cryptographically weak, and it possible that one or more nation has the capabilities to break communications protected by RC4.  

At the same time we have enabled support for HSTS.  Modern browsers can use HSTS headers to prevent the redirection of traffic to insecure domain if the DNS server is compromised by attackers.

SSL Labs rates our HTTPS configuration A+ (less than 0.1% of tested domains score an A+)
https://www.ssllabs.com/ssltest/analyze.html?d=bitsimple.com&s=64.16.206.3

The downside of these security enhancements is that users connecting with very old browsers may be unable to connect to the site as there is no common protocol and cipher supported by both the server and browser.  The only browsers affected are IE 6 or older (IE 8 or older on Windows XP), Firefox version 20 or older, or other browsers released around the same period of time (over a decade ago).

If you encounter connectivity issues with a newer browser please let us know at support@bitsimple.com.  Include the OS, browser, and versions so we can look into it.

Improving TLS strength is just one part of our comprehensive end to end security policy at BitSimple.

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February 27, 2014, 02:38:06 PM
 #12

Bitsimple for Americans only. Make that clear on the site so everyone else doesn't waste time on it.

Very little info.
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February 27, 2014, 09:37:00 PM
 #13

Bitsimple for Americans only. Make that clear on the site so everyone else doesn't waste time on it.

Very little info.

I will make sure that is made clear on the signup page.  We will be adding international support next week.

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March 07, 2014, 10:10:03 PM
 #14

When will BitSimple be open to the public?

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March 07, 2014, 10:12:01 PM
 #15

When will BitSimple be open to the public?

BitSimple is currently open to US residents (excluding residents in CA, NY, and VA).  Access for international residents will be added in the next few days.

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March 07, 2014, 10:52:29 PM
 #16

When will BitSimple be open to the public?

BitSimple is currently open to US residents (excluding residents in CA, NY, and VA).  Access for international residents will be added in the next few days.

I tried to sign up for an account here:
https://bitsimple.com/Account/Signup

I got this message:
Wow you found us.
Sorry you are a little early.
BitSimple is not open to the public yet.

I am in the US.

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March 07, 2014, 10:56:45 PM
 #17

I tried to sign up for an account here:
https://bitsimple.com/Account/Signup

Sorry about that.  That was an incorrect statement.  You should be able to create a new account now.

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March 08, 2014, 05:05:32 PM
 #18

Can you explain a little of how the exchange works?  If I want to buy 1 BTC do I buy it from your coins or do you match me up with someone who simultaneously wants to sell 1 BTC?  Does the seller send directly from their wallet to my wallet, or does it go through your mixed coin wallet?

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
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March 08, 2014, 05:25:33 PM
 #19

Can you explain a little of how the exchange works?  If I want to buy 1 BTC do I buy it from your coins or do you match me up with someone who simultaneously wants to sell 1 BTC?  Does the seller send directly from their wallet to my wallet, or does it go through your mixed coin wallet?

cp1,

Thank you for your interest in BitSimple.

It probably is easier to think of BitSimple as a bitcoin dealer (like a gold dealer) instead of a traditional exchange.  BitSimple, LLC is the counterparty in every trade.  If you are selling coins, we are the buyer.  If you buying coins, we are the seller.  To sell us coins you simply make a bitcoin transaction to the address we provide.  The instant it hits the network your account will be increased by the USD value of the coins you transferred to us, based on the current exchange rate.  If you are buying coins before wiring funds the site will ask for an address where we can transfer your purchase coins.  Once you notify us the funds have been wired we will lock in an exchange rate and the coins will be transferred to your address once the wire posts.

The key difference with exchanges is we never hold any user Bitcoins.  We don't offer eWallet services or require users deposit their coins before trading.  The only coins we hold are the ones owned by the company.  If we those bitcoins are lost or stolen it is our investors not our customers who lose.   Not surprisingly that has made us very motivated to prevent that from happening.

When selling bitcoins (your BTC for our USD) we offer the ability to withdraw the proceeds of your sale by ACH, Bank Wire, or PayPal.  When buying bitcoins your purchase needs to be funded by a bank wire.  We are looking into alternative funding options as we understand bank wires aren't the most convenient option for all users.  With BitSimple the price is always upfront and you can go from coins to cash or cash to coins the same day (in as little as an hour).  You keep your coins, in your wallet, and instant liquidity is still a transaction away.

Fees on buying bitcoins
Wire "Deposit" - no fee
Exchange fee - no fee
Bitcoin transfer - no fee (we cover miner fee of 0.1 mBTC for fast processing)

Fees on selling bitcoins
Bitcoin transfer - no fee (we recommend you include a miner fee of 0.1 mBTC for fast processing)
Exchange fee - no fee
Withdraw fee - varies (ACH = $0, Bank Wire = $25, PayPal = 1.9%)

BitSimple Support

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March 10, 2014, 07:41:54 PM
 #20

Access for international residents will be added in the next few days.

Would you mind expanding on that a little? Are you going to take EU (SEPA) customers?

Also, I don't see an option for two factor authentication... I would have imagined an end-to-end security policy would have included that -- or am I just not seeing the option?
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