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Author Topic: Holding USD on BTER without a bank.  (Read 947 times)
rabbiter
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September 24, 2014, 05:38:38 AM
 #1

I found you can hold USD on BYER without a bank account connected. This is great if many people use it as we can have liquidity to protect ourselves when altcoins have bad periods.


Does anyone know any other exchanges ages that are more liquid and let you hold USD. Does BTCe?
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nsimmons
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September 24, 2014, 05:45:43 AM
 #2

btce, cavirtex(cad), bitfinex.

rabbiter
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September 24, 2014, 06:48:08 AM
 #3

btce, cavirtex(cad), bitfinex.

I hoped BTCe would cause they have massive liquidity, I'm surprised it is though and I expect a lot of people don't know you can so easily shelter in fiat.
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September 24, 2014, 07:05:11 AM
 #4

Coinapult LOCKS service
Nubits
BitUSD

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rabbiter
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September 24, 2014, 07:22:59 AM
 #5



What is difference between bitusd and simply usd/BTC on BTER?
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September 24, 2014, 07:34:07 AM
 #6

I found you can hold USD on BYER without a bank account connected. This is great if many people use it as we can have liquidity to protect ourselves when altcoins have bad periods.


Does anyone know any other exchanges ages that are more liquid and let you hold USD. Does BTCe?

Does not all coins can help you to hold USD? exchange into BTC then BTC into USD?
rabbiter
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September 24, 2014, 08:43:12 AM
 #7

I found you can hold USD on BYER without a bank account connected. This is great if many people use it as we can have liquidity to protect ourselves when altcoins have bad periods.


Does anyone know any other exchanges ages that are more liquid and let you hold USD. Does BTCe?

Does not all coins can help you to hold USD? exchange into BTC then BTC into USD?


yeah, which is why it's so useful, I'm guessing many don't know you can. Of course if you don't connect a bank account you can exit from these exchanges in USD but the point is it very useful when altcoins are all ona downward slide, and the you can buy back in when things are on the up.

It's good for Altcoins as well cause if traded well people are putting more USD into the system, or at least that's the potential. It also could mean volatility if more people bounce into fiat on these exchanges at any sign of BTC or alts wilting.
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September 24, 2014, 09:07:43 AM
 #8

CoinoUSD

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September 24, 2014, 09:47:57 AM
 #9

CoinoUSD

or BitUSD: http://bitcoinist.net/big-showdown-coinousd-vs-bitusd/

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bonipper
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September 24, 2014, 09:55:01 AM
 #10

Is there a limit to how much bter will let you hold in USD without a bank account?
Altcoin Agent
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September 24, 2014, 10:32:11 AM
 #11

A big word of caution to holding fiat or large ammount of crypto on ANY online service...
Time and time again there have been hacks or companies running away with money. Leave only what you are not afraid to lose.

Don't make the mtGox mistake. I can also name a couple of other sites where people have lost loads of money, and they all looked safe before money was suddenly gone.

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Golden-Fox
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September 24, 2014, 02:40:22 PM
 #12

Don't put everything you have in the exchanges.Although everything shows 100% security but nothing is actually hack proof in online world.
Schwarzalbert
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September 24, 2014, 03:30:26 PM
 #13

I found you can hold USD on BYER without a bank account connected. This is great if many people use it as we can have liquidity to protect ourselves when altcoins have bad periods.


Does anyone know any other exchanges ages that are more liquid and let you hold USD. Does BTCe?

I doubt if that is a good choice to hold your money on bter or somewhere else longer than necessary.
Remind yourself of the last hacking tries on Mt. Gox for example.

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rabbiter
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September 24, 2014, 04:58:52 PM
 #14

A big word of caution to holding fiat or large ammount of crypto on ANY online service...
Time and time again there have been hacks or companies running away with money. Leave only what you are not afraid to lose.

Don't make the mtGox mistake. I can also name a couple of other sites where people have lost loads of money, and they all looked safe before money was suddenly gone.



Completely agree but I think it gives people options, another string to bow blah blah.

The exchanges that do it are relatively trustworthy like a BTCe, like a BTER. And I wouldn't see it as a long term thing.

Imagine the next time BTC starts to bomb for some news generated reason then I think many would want to run temporarily to this option for a short time. Or if Bitcoin went parabolic and you wanted to lock away some gains in USD until the inevitable crash. It's definetly useful and definitely not utilised by many people in altcoins.


Once decentralised asset exchanges get more developed like NXT or Qora I guess we can use them for the same function.
bl4kjaguar
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September 25, 2014, 12:41:14 AM
 #15



What is difference between bitusd and simply usd/BTC on BTER?

Theoretically, an exchange could institute AML/KYC measures for traders holding significant sums of USD at any time.

Coinapult's LOCKS appears to be more liquid than any fiat exchange.

1CuUwTT21yZmZvNmmYYhsiVocczmAomSVa
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