The biggest problem with bitcoin is these imcompetent exchanges

[PenAndPaper]

I agree with this.  I'd love to be more involved with BTC but especially in US, I think, it's tough to fund and withdraw.  They all claim to be special and professional but they just seem to be incompetent or fraudsters.

Isn't coinbase trustworthy enough? I mean that's one option in the us that afaik no other country has.

[1715075262]

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[1715075262]

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[Flashback]

I am interested in starting a REAL PROFESSIONAL BITCOIN EXCHANGE with a real team for support, administration, etc. but there is one slight problem. I am based in Romania. I am afraid that people will not trust the service because Romania doesn't have very good image worldwide. What is your opinion?  

[Operatr]

Bitshares, Open Transactions, and Mastercoin are all the real way this is being dealt with, in what are p2p exchange nodes that can be used to generate and trade any kind of currency or asset. These are new layers being built on top of Bitcoin and other blockchains to facilitate decentralized exchange.

For centralized exchanges, there are things like ItBit that are throwing down some serious venture capital to create a robust system.

[giveBTCpls]

bitcoin.de is a blessing compared to all the other exchanges, very nice design and functions, you don't have to deposit money on it, only bitcoins, and you pay directly to the seller with bank transfer, and you can even spend up to $2,500 before needing a complete registration...only problem, if we want to call it so, is that you need to be in the Euro zone, sorry Americans&Asians&rest of the world  btc-e and the others are good only for coin-coin exchanges...anyway I have no affiliation at all with bitcoin.de, just sharing my experiences, all other exchanges should be like that, and not only for the Euro zone...

Im gonna go there to do some buy and hold operations, but bitcoin.de is useless for day trading because you can't deposit fiat. You need to get your fiat instantly delivered in a deposit to do quick buy/sell movements. You can't do this with bitcoin.de because the fiat goes directly to your bank 1-3 days later. It's like localbitcoins.
Also, what kind of information do you need to break the 2,500 limitation?

[giveBTCpls]

bitcoin.de is a blessing compared to all the other exchanges, very nice design and functions, you don't have to deposit money on it, only bitcoins, and you pay directly to the seller with bank transfer, and you can even spend up to $2,500 before needing a complete registration...only problem, if we want to call it so, is that you need to be in the Euro zone, sorry Americans&Asians&rest of the world   btc-e and the others are good only for coin-coin exchanges...anyway I have no affiliation at all with bitcoin.de, just sharing my experiences, all other exchanges should be like that, and not only for the Euro zone...

Euro zone , or European Union?
Cause I'm getting interested on this , heard a lot of good stuff about it.

well, I can tell you that you have to pay through SEPA bank transfer (or national bank transfer, if the seller's bank is in the same nation as your bank), which is only available for banks of the countries that are in the Euro Zone I think...quote from Wikipedia: "The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. As of November 2013, SEPA consists of the 28 EU member states, the four members of the EFTA (Iceland, Liechtenstein, Norway and Switzerland) and Monaco"

As I said, I recommend bitcoin.de, I personally made more than 10 trades, all successful, and the community is generally friendly, and the coin disbursement doesn't usually take more than half an hour...in addition the possibility to spend up to 2,500 euros before a complete verification (only with a bank account verification) is a great feature

The euro zone means the states that adopted the euro as a currency. That got me curios.
SEPA is for the whole Eurpean Union.

I'll give it a try , what the hell!

alright, my mistake   by the way I think you will not regret it, it is really worth trying! It is obviously not intended for daily traders since the bank transfers can take up to one or two days, but if you just want to get some bitcoins to store away or move to other exchanges, or don't want to/can't get a full verification, it is the best site at the moment in my opinion!

EDIT: I think it is important to add that the 2,500 euros without verification are annual, so if you start trading now, in less than a month you will be able to spend 2,500 more euros without verification 

My bank acount isnt verified yet and when I try to click buy/sell I get this message:
"In order to trade on bitcoin.de, you have to verify the bank data. "

[giveBTCpls]

bitcoin.de is a blessing compared to all the other exchanges, very nice design and functions, you don't have to deposit money on it, only bitcoins, and you pay directly to the seller with bank transfer, and you can even spend up to $2,500 before needing a complete registration...only problem, if we want to call it so, is that you need to be in the Euro zone, sorry Americans&Asians&rest of the world  btc-e and the others are good only for coin-coin exchanges...anyway I have no affiliation at all with bitcoin.de, just sharing my experiences, all other exchanges should be like that, and not only for the Euro zone...

So, when I sell BTC on bitcoin.de that particular member will have to make a bank transfer to my account? Not the exchange itself?

Yep, asks/bids are not matched automatically. You pick your bid/ask and then wire the money or wait for money to be wired. There are some deadlines and trust rating. It is a little bit like localbitcoins, but with specific bids/asks. Bitcoin.de does escrow and identity verification, but they don't seem to do much in fraud cases (canceled wire transfers, delayed transfers, ...).

Really? So what stops people from scaming and getting rich if they do nothing about fraud?

[olloman]

bitcoin.de is a blessing compared to all the other exchanges, very nice design and functions, you don't have to deposit money on it, only bitcoins, and you pay directly to the seller with bank transfer, and you can even spend up to $2,500 before needing a complete registration...only problem, if we want to call it so, is that you need to be in the Euro zone, sorry Americans&Asians&rest of the world  btc-e and the others are good only for coin-coin exchanges...anyway I have no affiliation at all with bitcoin.de, just sharing my experiences, all other exchanges should be like that, and not only for the Euro zone...

Im gonna go there to do some buy and hold operations, but bitcoin.de is useless for day trading because you can't deposit fiat. You need to get your fiat instantly delivered in a deposit to do quick buy/sell movements. You can't do this with bitcoin.de because the fiat goes directly to your bank 1-3 days later. It's like localbitcoins.
Also, what kind of information do you need to break the 2,500 limitation?

yeah, that's why in one of my other messages I wrote that bitcoin.de is great to purchase bitcoin for long term hold or to send to other exchanges, daily trading is indeed impossible 

To get a full verification and get unlimited trade you need to send a copy of your ID and residence proof (like the other exchanges), and you also need to fill a form with the supervision of a third party authority (they suggest for example notary's office, solicitor's office or credit institution)...anyway the 2,500 euro limit is annual 

[olloman]

bitcoin.de is a blessing compared to all the other exchanges, very nice design and functions, you don't have to deposit money on it, only bitcoins, and you pay directly to the seller with bank transfer, and you can even spend up to $2,500 before needing a complete registration...only problem, if we want to call it so, is that you need to be in the Euro zone, sorry Americans&Asians&rest of the world  btc-e and the others are good only for coin-coin exchanges...anyway I have no affiliation at all with bitcoin.de, just sharing my experiences, all other exchanges should be like that, and not only for the Euro zone...

So, when I sell BTC on bitcoin.de that particular member will have to make a bank transfer to my account? Not the exchange itself?

Yep, asks/bids are not matched automatically. You pick your bid/ask and then wire the money or wait for money to be wired. There are some deadlines and trust rating. It is a little bit like localbitcoins, but with specific bids/asks. Bitcoin.de does escrow and identity verification, but they don't seem to do much in fraud cases (canceled wire transfers, delayed transfers, ...).

Really? So what stops people from scaming and getting rich if they do nothing about fraud?

as I already said, the community is generally mature and trustworthy, and obviously since every user has a trust rate, you might try and fool someone once, but then nobody will ever trade with you again

[olloman]

bitcoin.de is a blessing compared to all the other exchanges, very nice design and functions, you don't have to deposit money on it, only bitcoins, and you pay directly to the seller with bank transfer, and you can even spend up to $2,500 before needing a complete registration...only problem, if we want to call it so, is that you need to be in the Euro zone, sorry Americans&Asians&rest of the world   btc-e and the others are good only for coin-coin exchanges...anyway I have no affiliation at all with bitcoin.de, just sharing my experiences, all other exchanges should be like that, and not only for the Euro zone...

Euro zone , or European Union?
Cause I'm getting interested on this , heard a lot of good stuff about it.

well, I can tell you that you have to pay through SEPA bank transfer (or national bank transfer, if the seller's bank is in the same nation as your bank), which is only available for banks of the countries that are in the Euro Zone I think...quote from Wikipedia: "The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. As of November 2013, SEPA consists of the 28 EU member states, the four members of the EFTA (Iceland, Liechtenstein, Norway and Switzerland) and Monaco"

As I said, I recommend bitcoin.de, I personally made more than 10 trades, all successful, and the community is generally friendly, and the coin disbursement doesn't usually take more than half an hour...in addition the possibility to spend up to 2,500 euros before a complete verification (only with a bank account verification) is a great feature

The euro zone means the states that adopted the euro as a currency. That got me curios.
SEPA is for the whole Eurpean Union.

I'll give it a try , what the hell!

alright, my mistake   by the way I think you will not regret it, it is really worth trying! It is obviously not intended for daily traders since the bank transfers can take up to one or two days, but if you just want to get some bitcoins to store away or move to other exchanges, or don't want to/can't get a full verification, it is the best site at the moment in my opinion!

EDIT: I think it is important to add that the 2,500 euros without verification are annual, so if you start trading now, in less than a month you will be able to spend 2,500 more euros without verification 

My bank acount isnt verified yet and when I try to click buy/sell I get this message:
"In order to trade on bitcoin.de, you have to verify the bank data. "

well I said that you don't need a complete verification (ID and residence proof), but to trade you need to validate at least your bank account...nothing special, you just give them your bank account details, they send you 9 cents and you have to put in the website the code you get in the "details" section of the transfer...I guess it is to have a minimum of control and trust, and also because if you just want to sell, they need to have your bank account details to inform the buyer

[Malooka]

You can add Campbx.com to the list of incompetent idiots.

Their website states, in bold letters, that all money orders will be credited within 2 business days of receipt.

They have cashed 3 $500 money orders of mine last week.  One arrived Monday (was finally credited Sunday morning), another arrived Wednesday, not sure when the other arrived but it had to have been around the same time as they were all cashed the same day.

Nothing has been credited to my account at all from the last $1000 they've cashed.  If just $500 had been credited by Saturday I could have had $633 (or less) BTC.  They are too lazy to live up to their own terms, and now the price is well over $900.

If you look at their Facebook page it seems they may be about to go under.  They're ripping off everybody.

[other_side]

The solution is not the new exchange, but ETF, that trades on existing conventional exchanges.

[pgbit]

More exchanges will come to light over the next few months.
Just wait for a few big timers to enter the exchange scene. 

Exchanges that don't shape up and earn levels of trust with stable honest service will fail, sooner than they appreciate. If trust vanishes, they will be swallowed up by decentralised services in their entirety in an even shorter period of time. To be fair, problems that arise currently are closely associated with periods of massive demand  (it's been crazy, hasn't it?), but this doesnt explain all the shenanigans going on with random balance debits (never credits eh?). Exchanges with a fairly limited set of alts (i.e. not over 40) tend have the most stable web interfaces. It's crying out to be decentralised at the moment. Some exchanges are genuinely helpful, and I hope that the situation improves so that levels of trust in all of them can be improved to an acceptable level.