ANXBTC and recent price rise

[RodeoX]

-------SPECULATION------------

I noticed one of the newer exchanges, ANXBTC, seems to have expanded into some new currencies. It looks to have been a success across the board. As of writing this the volume of those currencies have exceeded 21 million USD in about a week. The timing of the launch into these countries and the price rise is interesting. But there was something else. The volume in each new ANX currency was strangely uniform. Look at the 10 day totals in each of the newly launched currencies.

-CNY- 6035 Chinese Yuan
-NZD- 6148 New Zealand Dollar
-SGD- 6154 Singapore Dollar
-CHF- 6155 Swiss Franc
-CAD- 6204 Canadian Dollar
-JPY- 6208 Japanese Yen

Total 36904

It seems weird that all those different markets would buy about the same amount of bitcoin. And I don't see a dip in volume among other exchanges. But maybe I'm wrong about that.  I don't know anything about this company, but I hope they are just finding a market. So who is doing these buys; and is this BTC3.5K/day new volume? And what, if any, effect does it have on the price?

ANX exchanges data: http://bitcoincharts.com/markets/
ANX website: https://anxbtc.com/




 

[genuise]

I am afraid they probably use the some market volume for all fiat currency almost similarly as mtGox did.
Can anybody confirm or explain?

[C. Bergmann]

obviously they mix the volume of all currencies. 1.000 Bitcoins in CHF? 1.000 Bitcoins in SGD? Where should this come from?

[RodeoX]

I am afraid they probably use the some market volume for all fiat currency almost similarly as mtGox did.
Can anybody confirm or explain?

That would make sense. I'm not accusing anyone of anything, but it looks strange to me. Maybe they just got lucky with the launch date of these currencies. What is going on there?

[byt411]

I am afraid they probably use the some market volume for all fiat currency almost similarly as mtGox did.
Can anybody confirm or explain?

That would make sense. I'm not accusing anyone of anything, but it looks strange to me. Maybe they just got lucky with the launch date of these currencies. What is going on there?

ANX here. I'll ask and get an answer to you ASAP.

[RodeoX]

I am afraid they probably use the some market volume for all fiat currency almost similarly as mtGox did.
Can anybody confirm or explain?

That would make sense. I'm not accusing anyone of anything, but it looks strange to me. Maybe they just got lucky with the launch date of these currencies. What is going on there?

ANX here. I'll ask and get an answer to you ASAP.

Oh, hey thanks! It looks like a well thought out site. Perhaps a good place to do arbitrage?

[byt411]

I am afraid they probably use the some market volume for all fiat currency almost similarly as mtGox did.
Can anybody confirm or explain?

That would make sense. I'm not accusing anyone of anything, but it looks strange to me. Maybe they just got lucky with the launch date of these currencies. What is going on there?

ANX here. I'll ask and get an answer to you ASAP.

Oh, hey thanks! It looks like a well thought out site. Perhaps a good place to do arbitrage?

Well, you should do so now, since we are having a 0% Fee promotion right now, until the start of June.

[RodeoX]

Well, you should do so now, since we are having a 0% Fee promotion right now, until the start of June.

I'll check it out. In retrospect, it looks like you guys did just launch on the right date. And with all those currencies, you must be capturing some unmet demand in the market. Nice Job!

[BitchicksHusband]

-------SPECULATION------------

I noticed one of the newer exchanges, ANXBTC, seems to have expanded into some new currencies. It looks to have been a success across the board. As of writing this the volume of those currencies have exceeded 21 million USD in about a week. The timing of the launch into these countries and the price rise is interesting. But there was something else. The volume in each new ANX currency was strangely uniform. Look at the 10 day totals in each of the newly launched currencies.

-CNY- 6035 Chinese Yuan
-NZD- 6148 New Zealand Dollar
-SGD- 6154 Singapore Dollar
-CHF- 6155 Swiss Franc
-CAD- 6204 Canadian Dollar
-JPY- 6208 Japanese Yen

Total 36904

It seems weird that all those different markets would buy about the same amount of bitcoin. And I don't see a dip in volume among other exchanges. But maybe I'm wrong about that.  I don't know anything about this company, but I hope they are just finding a market. So who is doing these buys; and is this BTC3.5K/day new volume? And what, if any, effect does it have on the price?

ANX exchanges data: http://bitcoincharts.com/markets/
ANX website: https://anxbtc.com/




 

Not accusing or anything, but at first glance my initial reaction would be "They sold 6000 BTC themselves and then users did: 35, 148, 154, 155, 204 and 208."

[byt411]

Well, you should do so now, since we are having a 0% Fee promotion right now, until the start of June.

I'll check it out. In retrospect, it looks like you guys did just launch on the right date. And with all those currencies, you must be capturing some unmet demand in the market. Nice Job!

Here's your answer:

Thank you for raising that. It is a important feature of ANX.

ANX is completely different, from every exchange on the planet.

Other exchanges have separate order books - one order book for BTCEUR, another for BTCUSD. Trades, pricing, depth is all independent.
ANX on the other hand has a sophisticated engine that streams in FX rates in real-time, and blends all FIAT currencies into a single order book.

Orders placed in BTCEUR can match against orders placed in BTCUSD. It's based on a very fair algorithm that converts each existing order into the equivalent price for any incoming order.
USD orders are settled in USD, and EUR in EUR.

Some exchanges have attempted to implement a multi-currency offering by first converting orders into a common currency, which is terrible for the customer as they suffer FX slippage.
In the case of ANX a USD order rests in USD, and a EUR in EUR. If they match, both parties receive their native currency.
So - when you use the two API calls as per your email, you are actually querying against a single order book.

The data is completely transparent - the "primary" flat tells you what is going on.

If a EUR trade matches against a USD trade, the USD and EUR will both be reported in the history call with primary="true".

The volume may appear identical in each of the 11 fiat currencies we support but that is because it is identical; transaction volume could have been executed in any of those 11 fiat currencies we support.  We're the only exchange in the world that offers its customers to execute in their local currency of choice (provided it is one of the 11 currencies we do today).  Customers no longer have to endure poor bank exchange rates and in many cases, they no longer have to rely on expensive wire fees (we now support local banking in Australia, Hong Kong and in Europe). 

[C. Bergmann]

The volume may appear identical in each of the 11 fiat currencies we support but that is because it is identical; transaction volume could have been executed in any of those 11 fiat currencies we support. 

So you don't have a volume of 1.000+ each day in CHF, but your API pretends you have? The volume shown by the API is the complete volume, right? And you don't have data how much volume has been executed in the supported fiat-currencies? So the correct volume of your exchange in CHF could be 10 or zero, but since you don't know your API shows 1.000+?

We're the only exchange in the world that offers its customers to execute in their local currency of choice (provided it is one of the 11 currencies we do today).  Customers no longer have to endure poor bank exchange rates and in many cases, they no longer have to rely on expensive wire fees (we now support local banking in Australia, Hong Kong and in Europe). 

I don't understand it. No matter what currency I send you, you turn it in the orderbook and every's currencies order can be executed with every other currency's order? So even if you have no single bid in CHF I could sell tons of bitcoins against CHF and you buy me out with your local swiss banking partner?

btw: your homepage lacks an impressum. Where are you located?

[byt411]

The volume may appear identical in each of the 11 fiat currencies we support but that is because it is identical; transaction volume could have been executed in any of those 11 fiat currencies we support.  

So you don't have a volume of 1.000+ each day in CHF, but your API pretends you have? The volume shown by the API is the complete volume, right? And you don't have data how much volume has been executed in the supported fiat-currencies? So the correct volume of your exchange in CHF could be 10 or zero, but since you don't know your API shows 1.000+?

We're the only exchange in the world that offers its customers to execute in their local currency of choice (provided it is one of the 11 currencies we do today).  Customers no longer have to endure poor bank exchange rates and in many cases, they no longer have to rely on expensive wire fees (we now support local banking in Australia, Hong Kong and in Europe).  

I don't understand it. No matter what currency I send you, you turn it in the orderbook and every's currencies order can be executed with every other currency's order? So even if you have no single bid in CHF I could sell tons of bitcoins against CHF and you buy me out with your local swiss banking partner?

btw: your homepage lacks an impressum. Where are you located?

Let me explain.
Bob wants to sell 1 BTC  for $619 USD.
Alice wants to buy 1 BTC for 453.4 EUR.

Our state-of-the-art trading platform will automatically match these orders and make it happen.
Bob receives $619 USD, Alice receives 1 BTC. Understand?
And yes, even if there is no bid in CHF, you can still sell BTC for CHF, since our platform will match your trade with ones in other currencies and then exchange the fiat.

Our API doesn't "pretend" anything. It still displays volume for all "mixed" together, as you might say, because the trading book is universal.
We are based in Hong Kong, and I mean based in Hong Kong, unlike Bitfinex.

[C. Bergmann]

The volume may appear identical in each of the 11 fiat currencies we support but that is because it is identical; transaction volume could have been executed in any of those 11 fiat currencies we support.  

So you don't have a volume of 1.000+ each day in CHF, but your API pretends you have? The volume shown by the API is the complete volume, right? And you don't have data how much volume has been executed in the supported fiat-currencies? So the correct volume of your exchange in CHF could be 10 or zero, but since you don't know your API shows 1.000+?

We're the only exchange in the world that offers its customers to execute in their local currency of choice (provided it is one of the 11 currencies we do today).  Customers no longer have to endure poor bank exchange rates and in many cases, they no longer have to rely on expensive wire fees (we now support local banking in Australia, Hong Kong and in Europe).  

I don't understand it. No matter what currency I send you, you turn it in the orderbook and every's currencies order can be executed with every other currency's order? So even if you have no single bid in CHF I could sell tons of bitcoins against CHF and you buy me out with your local swiss banking partner?

btw: your homepage lacks an impressum. Where are you located?

Let me explain.
Bob wants to sell 1 BTC  for $619 USD.
Alice wants to buy 1 BTC for 453.4 EUR.

Our state-of-the-art trading platform will automatically match these orders and make it happen.
Bob receives $619 USD, Alice receives 1 BTC. Understand?
And yes, even if there is no bid in CHF, you can still sell BTC for CHF, since our platform will match your trade with ones in other currencies and then exchange the fiat.

Our API doesn't "pretend" anything. It still displays volume for all "mixed" together, as you might say, because the trading book is universal.
We are based in Hong Kong, and I mean based in Hong Kong, unlike Bitfinex.

Thanks for the detailed answer.
Sound like you have to change a lot of money. Aren't there high fees to change e. G. USD against CHF etc.? It doesn't sound like a profitable business modell

[byt411]

The volume may appear identical in each of the 11 fiat currencies we support but that is because it is identical; transaction volume could have been executed in any of those 11 fiat currencies we support.  

So you don't have a volume of 1.000+ each day in CHF, but your API pretends you have? The volume shown by the API is the complete volume, right? And you don't have data how much volume has been executed in the supported fiat-currencies? So the correct volume of your exchange in CHF could be 10 or zero, but since you don't know your API shows 1.000+?

We're the only exchange in the world that offers its customers to execute in their local currency of choice (provided it is one of the 11 currencies we do today).  Customers no longer have to endure poor bank exchange rates and in many cases, they no longer have to rely on expensive wire fees (we now support local banking in Australia, Hong Kong and in Europe).  

I don't understand it. No matter what currency I send you, you turn it in the orderbook and every's currencies order can be executed with every other currency's order? So even if you have no single bid in CHF I could sell tons of bitcoins against CHF and you buy me out with your local swiss banking partner?

btw: your homepage lacks an impressum. Where are you located?

Let me explain.
Bob wants to sell 1 BTC  for $619 USD.
Alice wants to buy 1 BTC for 453.4 EUR.

Our state-of-the-art trading platform will automatically match these orders and make it happen.
Bob receives $619 USD, Alice receives 1 BTC. Understand?
And yes, even if there is no bid in CHF, you can still sell BTC for CHF, since our platform will match your trade with ones in other currencies and then exchange the fiat.

Our API doesn't "pretend" anything. It still displays volume for all "mixed" together, as you might say, because the trading book is universal.
We are based in Hong Kong, and I mean based in Hong Kong, unlike Bitfinex.

Thanks for the detailed answer.
Sound like you have to change a lot of money. Aren't there high fees to change e. G. USD against CHF etc.? It doesn't sound like a profitable business modell

We have many banking partners, and we are able to do that at a low fee. Right now, we have a 0% Trading fee, but that promotion ends tomorrow, so be sure to try out our trading platform soon!
ANXPRO

[birr]

byt411:

Why two exchanges and
two websites, anxbtc and anxpro...??

[byt411]

byt411:

Why two exchanges?

That's a really good question, lol. I've been pestering my superiors to integrate it into one.
It's actually three, ANXPRO, ANXBTC, and MengMengBi.

If you have any more suggestions, please tell me. Oh, and the credentials work for all three too.

[birr]

byt411:

Why two exchanges?

If you have any more suggestions

that was a question, not a suggestion.

[byt411]

byt411:

Why two exchanges?

If you have any more suggestions

that was a question, not a suggestion.

I know that. I meant that if you have suggestions, you can tell me.

[bernard75]

SEPA withdrawals disabled, while deposits work fine?

[bernard75]

I hope they were, they are mentioned here:

and here:


Anyway, kinda strange to accept deposits and deny withdrawals.
Sounds like another exchange we rather not talk about.