BitVc - A New Trading Platform From Huobi

[Ashitank]

BitVc is a new trading platform which allows margin trading of Bitcoin and Litecoin. Like Huobi, there will be zero trading or withdrawal fees. BitVc is based on Huobi's API and will support BTC/LTC derivatives and financial instruments. BitVc will be focused on margin trading, derivatives, and other financial instruments, while Huobi will continue to be mainly a spot trading platform. The API will be opened later for other developers to create applications on it. BitVc was created by the people behind Huobi, which has an impeccable security and performance record. It is registered to Huobi's subsidiary company in Hong Kong.

BitVc features a new product/service called Yubibao, which is an interest-bearing BTC/LTC account within BitVc. You can move your BTC/LTC into your Yubibao and withdraw into your normal account instantly and at any time. Yubibao gives risk-averse people a safe, easy way to put their coins to work for profit. Interest is derived from traders who borrow to trade on margin. Rather than setting your own loan terms, BitVc pools all the deposits in Yubibao and offers the same market rate to all savers and borrowers.

BitVc is currently in invitation-only mode, but you can send me a message if you want an invitation code. Your feedback would be much appreciated.

https://www.bitvc.com/

http://newsbtc.com/2014/06/16/chinese-bitcoin-exchange-huobi-launch-virtual-currency-based-derivatives-platform-bitvc/

Guy just wanted to let u know be carefull when doing margin trades on bitvc , they seem to have very laggy & slow server response time.    , i dont know this is in purpose to make margin traders loose money or something.

[WeMineCoins]

Been using BitVC for a week now for the savings account feature not quite sure how to judge it thus far but I have about $60 worth of litecoins in there. My biggest complaint is that they only go to the 4th decimal for accounting in digital currency "0.0000" as opposed to going to the 8th, not sure why they do this but I've gotten over it since I started to make deposits only to the 4th decimal as well. Haven't tried to withdrawal anything yet so I can't comment on that part either. Waiting till they get out of beta to trust the service with more money.

[capoeira]

any more expiriences on that one?

[TwinWinNerD]

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

[capoeira]

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

thank's...I'll give it a try as a trader

[smiley123]

Does anyone know if there is going to be API available.  I didn't see any info on the website about it.

[capoeira]

Does anyone know if there is going to be API available.  I didn't see any info on the website about it.

probably....This page seams to be kind of beta still

[joele]

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

What is the current interest rate for BTC and LTC?
Thanks

[capoeira]

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

What is the current interest rate for BTC and LTC?
Thanks

0,1% for borrowing.....for lending I coudn't find the rate on site, just a Chinese text

[TwinWinNerD]

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

What is the current interest rate for BTC and LTC?
Thanks

0,1% for borrowing.....for lending I coudn't find the rate on site, just a Chinese text

it was about 0.018%.

The way it works is:

They pool the deposits that are meant for lending. The borrowers pay the 0.1% and then those 0.1% are split to all borrowers. In this case only about 20% of all funds are used for trading.

[capoeira]

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

What is the current interest rate for BTC and LTC?
Thanks

0,1% for borrowing.....for lending I coudn't find the rate on site, just a Chinese text

it was about 0.018%.

The way it works is:

They pool the deposits that are meant for lending. The borrowers pay the 0.1% and then those 0.1% are split to all borrowers. In this case only about 20% of all funds are used for trading.

they should have an english text expaining this....the whole page seams to be beta to me

[TwinWinNerD]

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

What is the current interest rate for BTC and LTC?
Thanks

0,1% for borrowing.....for lending I coudn't find the rate on site, just a Chinese text

it was about 0.018%.

The way it works is:

They pool the deposits that are meant for lending. The borrowers pay the 0.1% and then those 0.1% are split to all borrowers. In this case only about 20% of all funds are used for trading.

they should have an english text expaining this....the whole page seams to be beta to me

yeah, it looks like they used google translate...

Also the chinese are a wierd folk: They don't use our common digit notation, but use "w" aka 10000. So their rate is notated in 1.8 BTC/w pr 1.8BTC/10000 BTC.

Well, you get used to if you need to

[capoeira]

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

What is the current interest rate for BTC and LTC?
Thanks

0,1% for borrowing.....for lending I coudn't find the rate on site, just a Chinese text

it was about 0.018%.

The way it works is:

They pool the deposits that are meant for lending. The borrowers pay the 0.1% and then those 0.1% are split to all borrowers. In this case only about 20% of all funds are used for trading.

they should have an english text expaining this....the whole page seams to be beta to me

yeah, it looks like they used google translate...

Also the chinese are a wierd folk: They don't use our common digit notation, but use "w" aka 10000. So their rate is notated in 1.8 BTC/w pr 1.8BTC/10000 BTC.

Well, you get used to if you need to

what I mean is that in YubiBiBao, I see

Deposit your sleeping coins. Earn daily profit. Withdrawal is unconstrained.  Details

and when I click "details" there is only a chniese text

[21pilot]

10 Thousand Accrual（฿）
1.5256

That means I get roughly 0.015 % interest per day?
Do I understand this correctly?

If this is the case why is anyone saying the interest is bigger than at bitfinex?
At bitfinex I currently get ~10x amount of that interest for my loans.

[kanes]

anyone trying the service?

[capoeira]

anyone trying the service?

I just loged in, it doesn't even show the orderbook and is slow as hell
at least now there is margin to borrow

[capoeira]

so why is this page so slow?

and do we get a stop-loss soon? levergaed trading requires at least a stop-loss, better even more of the advanced order types

[bladerunner99]

bitvc webserver is down and I am not happy.  I tested it with 0.05 btc and I want out.  Of course your mileage may vary.

[capoeira]

bitvc webserver is down and I am not happy.  I tested it with 0.05 btc and I want out.  Of course your mileage may vary.

it's not down...it´s just very very slow

[WeMineCoins]

I tried it with 520+ LTC for a couple days had no issues but the site is still super beta so I'll be waiting to try with anymore funds till it's more polished. Back to bitfinex.

Update : Typo