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Author Topic: Blizzcoin: Instant SEPA Bank account-> BTC exchange  (Read 3669 times)
Blizz
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November 30, 2011, 09:27:52 PM
 #1

Hello!

blizzcoin.com is a real-time Bitcoin exchanger.
You can purchase Bitcoins instantly via SEPA transfer in minutes.

All you need is a bank account in one of those countries: Germany, Switzerland, Austria, Belgium or The Netherlands.

How it works:

1. Enter the amount BTC you want to buy and your Bitcoin address where you want to receive them.
2. Confirm your order and you'll be redirected to our payment provider. Fill out the transfer form to complete the purchase.
3. Blizzcoin system instantly sends the ordered amount to your Bitcoin wallet.

blizzcoin.com

Try it now! No registration required.

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damnek
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December 01, 2011, 12:19:21 AM
 #2

Nice service, but expensive.
1 btc would cost me 3.8 usd, while it's trading for 3 usd.

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molecular
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December 01, 2011, 12:44:32 AM
 #3

Nice service, but expensive.
1 btc would cost me 3.8 usd, while it's trading for 3 usd.

Well, it might still make sense. SEPA transfer to - say - intersango takes at least 1 and up to 4 days. Tomorrow the price might be at 3.8 Wink

Also: it seems textcoin.uk is even more expensive, yet people use it for its speed and ease of use.

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Blizz
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December 01, 2011, 12:24:29 PM
 #4

Thanks.

@damnek: It would cost you 3.20 USD today. Yesterday most probably even less. I'm using Google for currency conversion. https://encrypted.google.com/search?q=2.364+eur+in+usd

And please take into consideration that all purchases are instant.
Also you won't need to register or send your document scans anywhere.

Best regards.
molecular
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December 02, 2011, 02:05:56 AM
 #5

I think this is great. Some questions:

1.) sofort-banking, I never looked into that. You give them (sofort.com) your account details plus pin and a tan?? really? people do that? Seems like a huge trust barrier to me. Maybe I don't understand how this works exactly.

2.) how are you protecting against chargeback?


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Blizz
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December 02, 2011, 08:21:06 AM
 #6

Hello molecular!

Yes, you enter your account details at sofort.com which is a secure and well known german payment processor. Your data is protected 100% of the time and NONE of your personal information is stored at Blizzcoin.

Regarding chargebacks. If somebody orders Bitcoins, those Bitcoins get delivered (provable anytime) and then this individual decides to issue a chargeback, that's fraud, a criminal offence punishable by prison. And because it's a criminal offence and not just some civil suite I wouldn't even have to lawyer up, just file a complaint and provide the evidence to police and court. It wouldn't be very wise to try such stunts with your bank account.

That said you can always safely cancel or simply abort or not pay your order at Blizzcoin and just create a new one.
If you already paid but by mistake entered an invalid address just send me an email and we'll sort it out.  Cheesy
molecular
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December 02, 2011, 11:10:18 AM
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Hello molecular!

Yes, you enter your account details at sofort.com which is a secure and well known german payment processor. Your data is protected 100% of the time and NONE of your personal information is stored at Blizzcoin.

Regarding chargebacks. If somebody orders Bitcoins, those Bitcoins get delivered (provable anytime) and then this individual decides to issue a chargeback, that's fraud, a criminal offence punishable by prison. And because it's a criminal offence and not just some civil suite I wouldn't even have to lawyer up, just file a complaint and provide the evidence to police and court. It wouldn't be very wise to try such stunts with your bank account.

That said you can always safely cancel or simply abort or not pay your order at Blizzcoin and just create a new one.
If you already paid but by mistake entered an invalid address just send me an email and we'll sort it out.  Cheesy

Thanks for your answer.

I understand your defense against chargebacks and think it's valid.

I didn't enter an invalid address, merely got cold feet when I dawned on me I had to give a TAN to some (no matter how well-trusted) entity that argues their systems security is based on the fact that banking security is good. This is, of course, a bogus argument, since at the point you give the TAN to them, the banks security model (of keeping the TAN secret) is obviously bypassed.

I'm still almost buying a small amount Wink However: there are hidden fees (in the sense that the exchange rate is less favorable the smaller the amount is), right?

I'm assuming the pre-filled amount is some sensible compromise, right?

I'm pretty sure people that have used "sofort" before would have no trouble using your service. Any customers so far?



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Blizz
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December 02, 2011, 11:44:15 AM
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I didn't enter an invalid address, merely got cold feet when I dawned on me I had to give a TAN to some (no matter how well-trusted) entity that argues their systems security is based on the fact that banking security is good. This is, of course, a bogus argument, since at the point you give the TAN to them, the banks security model (of keeping the TAN secret) is obviously bypassed.
You are correct and that's a valid concern. Blizzcoin uses a certified german payment processor instead of a no names British Virgin Islands company with no real presence anywhere like some others do.


However: there are hidden fees (in the sense that the exchange rate is less favorable the smaller the amount is), right?
No, absolutely none. What you see on you order page before clicking confirm are final amounts.


I'm assuming the pre-filled amount is some sensible compromise, right?
No, it's exactly what you'll get. No fees.

Rest assured you're not the only cautious customer. Smiley
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December 02, 2011, 01:02:31 PM
 #9

SEPA is also available in other countries in Europe, so why are usable only Austria, Belgium, Germany, Netherlands and Switzerland?

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December 02, 2011, 01:07:01 PM
 #10

Our payment processor only supports those countries for direct debit at the moment.
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December 02, 2011, 05:27:40 PM
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However: there are hidden fees (in the sense that the exchange rate is less favorable the smaller the amount is), right?
No, absolutely none. What you see on you order page before clicking confirm are final amounts.

Oh, I'm sorry. I thought when entering "1 BTC" one would get a different exchange rate compared to when entering "10 BTC". It's not the case, same rate. So no hidden fees. Cool.

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December 02, 2011, 06:01:17 PM
 #12

Min order is 10 Euro or the next higher integer as Bitcoin: 4 Bitcoins which is currently 10.77 Euro
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December 11, 2011, 09:12:44 PM
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So I have to enter "You will need your netbanking access number and password for signing in", meaning if someone gets the access number and password, they will have FULL access to all my money! Is this really what I have to do?

I was under the impression that I can do a sepa transfer to your account, without having to give out full access to my account.

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December 11, 2011, 09:46:58 PM
 #14

Regarding the security of Blizzcoins payment processor please read: https://www.payment-network.com/sue_de/kaeuferbereich/sicherheit or in english https://www.payment-network.com/deb_com_en/customerarea/security
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December 12, 2011, 07:53:28 AM
 #15

Thank you for the information, Blizzcoin. Simplicity is key and your service is the start of a trend. I actually believe that more people will tend towards an instant exchange rather than trading the bid/offer spread themselves. It's like the difference between going to a currency exchange kiosk or trading yourself on the open currency market. There is a role for both.

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December 12, 2011, 09:54:29 AM
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Does it work from Spain?

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molecular
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December 13, 2011, 02:48:17 PM
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The argument they make for their security is totally stupid, though: they argue that their security is based on banking TAN model. Therefore their security is just as good as online banking. That BS, of course. You have to trust these guys with your PIN and probably give them one TAN once they login to your banking and initiate the transfer.

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December 14, 2011, 11:40:32 AM
 #18

@matonis Thanks. I see it the same way, there is room for both. The customer decides.

Does it work from Spain?
Spain is not supported at the moment. As soon as I find a suitable payment processor for spain you"re going to find an announcement here but so far no luck.
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July 27, 2012, 05:37:02 AM
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Spain is not supported at the moment. As soon as I find a suitable payment processor for spain you"re going to find an announcement here but so far no luck.

When I click certain countries (e.g., Peru, Brazil, Mexico, Costa Rica, U.S.) the site changes from showing "via Bank Transfer" to "via SafetyPay".

However all of these get the response "Invalid order" after clickiing the Confirm button.

Is supporting SafetyPay transactions something new?  Will it be functional at some point?

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