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Author Topic: OKPAY accepting bitcoin as a deposit method  (Read 10826 times)
Nicolai Larsen
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November 20, 2011, 05:18:49 PM
 #81

Have been waiting almost 3 days for verification.. Not the fastest it seems Tongue

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OKPAY
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November 21, 2011, 12:30:32 PM
 #82

Nicolai Larsen Hey, did you request verification (request button). It's done on business days, PM me your email with OKPAY and I will take a look.

Bitcoin >> OKPAY payments are instant. We require 6 confirmations to complete a transfer.
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November 21, 2011, 02:51:02 PM
 #83

I'm a British person living in China - I have several documents that I could use for verification, though I'm unsure what you would need. How would I produce an acceptable translation or transliteration to Roman characters? Which Chinese organization do you accept as official translators? How would you know if the the translation is correct?
I notice your website is available in the Chinese language so obviously you are keen to attract Chinese customers - why not just employ a Chinese person who can verify and communicate with Chinese people?

edit - my wife is Chinese and would like a job, and she'd be happy to work for peanuts
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November 21, 2011, 02:56:46 PM
 #84

dancupid Hi, we already have a website in Chinese https://www.okpay.com/cn/index.html and the support guys in China, they do also speak English so that they will be able to help you with translation. The thing is that our banks are still in Europe and even if we can verify a client via our Chinese support stuff the bank will require certified translations into English (or docs in the Latin-based language)


Bitcoin >> OKPAY payments are instant. We require 6 confirmations to complete a transfer.
dancupid
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November 21, 2011, 03:01:28 PM
 #85

dancupid Hi, we already have a website in Chinese https://www.okpay.com/cn/index.html and the support guys in China, they do also speak in English so that they will be able to help you with translation. The thing is that our banks are still in Europe and even if we can verify a client via our Chinese support stuff the bank will require certified translations into English (or docs in the Latin-based language)



Thanks for your reply - I'll get my (Chinese) wife to contact the Chinese people to see how it works
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November 21, 2011, 03:19:57 PM
 #86

dancupid they also speak English, you can contact them directly  Wink

Bitcoin >> OKPAY payments are instant. We require 6 confirmations to complete a transfer.
molecular
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November 21, 2011, 05:21:52 PM
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Hey guys, here's my okpay story:

I needed a credit card to make some EUR payment to get a train ticket. My debit card wasn't working because I apparently had entered the wrong PIN 3 times. This was reset by my bank and I make the purchase with my "classic visa debit card".

Now checking on my payment to okpay I discovered that,
  • I couldn't get my credit card without some tedious process that takes weeks
  • by 20 bitcoins where automatically exchanged to USD 41.51
  • I could not withdraw bitcoins

Now, I would've expected okpay would keep my bitcoins as BTC, not exchange them automagically to some stupid FIAT currency. (looking at the bitcoin deposit page again, it clearly states a BTC/USD exchange rate and gives the "value" of the BTC you want to transfer as USD. I probably didn't care at that point, because I wanted to make a EUR payment with my shiny new credit card anyways)

Well, it was my fault for not reading enough before sending BTC.

Okpay also credited my bitcoin deposit twice to my account, so I had 2 x 41.52 = 83.02 USD at one point. I shamelessly tried to transfer these USD to my paypal account using an offered exchanger, ok-change.com. That failed and the double-deposit error was discovered and corrected, paypal transfer aborted. Notably, this all went pretty quickly (within 30 minutes or so).

I asked okpay support for my Bitcoins back. Let's see what happens. They're probably not obligated to do this, but maybe they are nice enough. Told them I would accept up to 5% loss (1 BTC) on this.

I could've been clear to me that okpay would exchange my precious BTC to USD, but the fact that you can't change these back to BTC and withdraw them, is a little disturbing, to be honest.

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November 22, 2011, 04:23:05 AM
 #88

Hey guys, here's my okpay story:

I needed a credit card to make some EUR payment to get a train ticket. My debit card wasn't working because I apparently had entered the wrong PIN 3 times. This was reset by my bank and I make the purchase with my "classic visa debit card".

Now checking on my payment to okpay I discovered that,
  • I couldn't get my credit card without some tedious process that takes weeks
  • by 20 bitcoins where automatically exchanged to USD 41.51
  • I could not withdraw bitcoins

Now, I would've expected okpay would keep my bitcoins as BTC, not exchange them automagically to some stupid FIAT currency. (looking at the bitcoin deposit page again, it clearly states a BTC/USD exchange rate and gives the "value" of the BTC you want to transfer as USD. I probably didn't care at that point, because I wanted to make a EUR payment with my shiny new credit card anyways)

Well, it was my fault for not reading enough before sending BTC.

Okpay also credited my bitcoin deposit twice to my account, so I had 2 x 41.52 = 83.02 USD at one point. I shamelessly tried to transfer these USD to my paypal account using an offered exchanger, ok-change.com. That failed and the double-deposit error was discovered and corrected, paypal transfer aborted. Notably, this all went pretty quickly (within 30 minutes or so).

I asked okpay support for my Bitcoins back. Let's see what happens. They're probably not obligated to do this, but maybe they are nice enough. Told them I would accept up to 5% loss (1 BTC) on this.

I could've been clear to me that okpay would exchange my precious BTC to USD, but the fact that you can't change these back to BTC and withdraw them, is a little disturbing, to be honest.


I was never under the impression that OKpay functions as a bitcoin wallet - they seem to be a way of getting virtually any electronic currency into $ on to a prepay card.
The bitcoin exchange they seem to use is Tradehill - they list BitInstant as one of their exchange partners, so presumably you have to pay tradehill and bitInstant fees at the point of exchange.

Edit - I doubt they actually have any Bitcoins themselves - they use exchange partners. So I doubt they can return your bitcoins without going through BitInstant at the current exchange rate.
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November 22, 2011, 08:07:55 AM
 #89

molecular if you were talking about OKPAY Debit Card then the process of obtaining it is fairly easy: verify your profile and phone # and then request it. Bitcoin deposit option is basically an automatic exchange operation to USD with the help of our exchange partners. At this point we do not offer vice-versa transaction.
There was a technical issue with your deposit, it was credited twice. By the way we are giving rewards to our clients who help us to improve by reporting bugs because some people would prefer to contact the support service instead of trying to withdraw other people's money next second on one of our partners exchanger. Cheesy
p.s. our company is not positioning itself as an e-currency-to-debit card service, this is only one of the many options.

Bitcoin >> OKPAY payments are instant. We require 6 confirmations to complete a transfer.
finway
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November 22, 2011, 08:46:01 AM
 #90

OKPAY:  When will bitcoin withdraw functions be available ?

molecular
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November 22, 2011, 11:35:56 AM
 #91

molecular if you were talking about OKPAY Debit Card then the process of obtaining it is fairly easy: verify your profile and phone # and then request it. Bitcoin deposit option is basically an automatic exchange operation to USD with the help of our exchange partners. At this point we do not offer vice-versa transaction.
There was a technical issue with your deposit, it was credited twice. By the way we are giving rewards to our clients who help us to improve by reporting bugs because some people would prefer to contact the support service instead of trying to withdraw other people's money next second on one of our partners exchanger. Cheesy
p.s. our company is not positioning itself as an e-currency-to-debit card service, this is only one of the many options.

Yeah, I know that was quite an ass-move on my part trying to exchange the erroneously credited money. I was pissed at that point that I couldn't get a credit card quickly. I can see that you need to verify me for that, of course, and this can't be done in the matter of hours or days even. I was naive.

So now how can I get my funds out to a bitcoin exchange most elegantly? Would I have to use paxum or something? It'd probably be bad to use paypal, because who in his right mind accepts paypal payments for bitcoin?




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ovidiusoft
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November 22, 2011, 03:16:35 PM
 #92

After contacting OKPAY by PM, he explained to me exactly what they need (in my case a printed account statement, signed and stamped by the bank, then scanned. They accepted it in romanian, as the bank didn't provide me with a english statement). After submitting, the account was verified in a few minutes, so karma++ from me!
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November 22, 2011, 04:57:19 PM
 #93

molecular no problem, I will try too find a solution for you.
ovidiusoft awesome!

Bitcoin >> OKPAY payments are instant. We require 6 confirmations to complete a transfer.
ovidiusoft
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November 22, 2011, 05:02:41 PM
 #94

So now how can I get my funds out to a bitcoin exchange most elegantly? Would I have to use paxum or something? It'd probably be bad to use paypal, because who in his right mind accepts paypal payments for bitcoin?

TradeHill will take OKPAY transfers directly.
molecular
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November 22, 2011, 05:19:28 PM
 #95

So now how can I get my funds out to a bitcoin exchange most elegantly? Would I have to use paxum or something? It'd probably be bad to use paypal, because who in his right mind accepts paypal payments for bitcoin?

TradeHill will take OKPAY transfers directly.

Cool. I have an account there already. How can I initiate a transfer?

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November 23, 2011, 02:37:59 PM
 #96

TradeHill will take OKPAY transfers directly.
yup!
molecular TradeHill should have the information on their website https://www.tradehill.com/DepositOverview/USD/

Bitcoin >> OKPAY payments are instant. We require 6 confirmations to complete a transfer.
molecular
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November 23, 2011, 07:16:47 PM
 #97

TradeHill will take OKPAY transfers directly.
yup!
molecular TradeHill should have the information on their website https://www.tradehill.com/DepositOverview/USD/

cool. I initiated the transfer on tradehill and sent to tradehill's okpay account, hopefully with all the correct numbers in the comment. Tradehill says "up to 24 hours" to get through, so I'm guessing it's some manual work involved.

thanks for pointing out and/or making this possible in the first place Wink


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Nicolai Larsen
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November 23, 2011, 09:04:47 PM
 #98

I'm a British person living in China - I have several documents that I could use for verification, though I'm unsure what you would need. How would I produce an acceptable translation or transliteration to Roman characters? Which Chinese organization do you accept as official translators? How would you know if the the translation is correct?
I notice your website is available in the Chinese language so obviously you are keen to attract Chinese customers - why not just employ a Chinese person who can verify and communicate with Chinese people?

edit - my wife is Chinese and would like a job, and she'd be happy to work for peanuts

Thanks! It has all been taken care of Smiley

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Stn
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November 24, 2011, 08:05:20 AM
 #99

OKPAY, you are so strange. Your representative called me on phone (overseas!) in order to drive my online business to your system. I asked to send me email with the details. Got it. Replied asking for some specific details. No answer. Sent the same request to the generic sales email address. Got some bullshit pasted from companies marketing agenda without any attempt to read what exactly I was asking.
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November 24, 2011, 08:30:50 AM
 #100

Stn that's weird..what email address did you reply to?

Bitcoin >> OKPAY payments are instant. We require 6 confirmations to complete a transfer.
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