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Author Topic: BitFloor Customer Reviews  (Read 6011 times)
EuSouBitcoin
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July 17, 2012, 07:08:38 PM
 #1

This thread is for people who have traded at BitFloor.com to post comments about their experience, likes, dislikes, wishlists, etc.

I've traded BTC/USD at BitFloor for awhile. The 2 things I like best about BitFloor are
1) their methods and ability to transfer USD quickly to/from my checking account at ING Direct bank
2) their commission structure (includes rebates and only totals 0.3%). You either pay 0.4% or get a 0.1% rebate.
For me, BitFloor does everything better than the biggest exchange except for trading size and hopefully that will change over time. I'm just a small BTC/USD trader but I'm taking my trades to BitFloor. Test out BitFloor yourself with a small amount of BTC or USD. If you are like me, you'll like it and come back for more.
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July 17, 2012, 07:11:41 PM
 #2

++1 for bitfloor.com

I agree!

plus

One of my goto exchanges.

Good pricing

Good funds flow in and out.

Good customer service.
jwzguy
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July 17, 2012, 07:20:01 PM
 #3

Excellent customer service.

Immediate replies to questions.

The fact that Bitfloor doesn't accept Mtgox codes or Dwolla makes me feel more secure.

Convenient (I also use ING.)

Fast, free ACH transfers.

Excellent order matching.

Easy-to-use, well designed website.

Lowest fees I know of.

Liquidity rebate.

A++

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July 17, 2012, 07:48:35 PM
 #4

Fast, free ACH transfers.

THIS !!!  and just to add to it.. Fast, free 48 hours funds avaliable in my account ACH transfers   Grin

AAA+

Sigg

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July 17, 2012, 08:27:14 PM
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- also, only 2 decimal places.
what's wrong with that?
(seriously asking; I don't know.)

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July 17, 2012, 08:39:26 PM
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+ Site loads fast and executes quick.  I like the minimalist style.  

+ You can actually get money off the site in a timely manner (whoda thunk it)

+ Sometimes I east all the buy side liquidity (hint hint if you are looking to buy coins you can buy them cheaper than MtGox here)

+ whole penny pricing.  No stupid I out bid you 0.000000001 BTC games.  If anything I could see going to 1/10th penny (like gasoline) but having 8 decimal places for orders serves no purpose (hey ma I got an extra $0.22 on $5,000,000 sale of bitcoins).

+ liquidity rebates ("mmm love them negative fees").

Negatives and these are minor:
- Wish there were more buyers.  I would sell every coin we acquire through this exchange if there were enough buyers.  Hint, hint.  Oh and I don't mind paying a little below MtGox hint, hint.

- Would prefer market depth, open orders, and trading input be on a single page I do a lot of click dancing getting info from three different places.

- The depth chart and table should go "deeper" or make it user customizable.  It should also show cumulative depth in table (it is on the chart but not the table)

- I wish 2 factor auth was limited to withdrawals only.  Sometimes I would like a quick login to view my orders.

- It has never given me free candy.

TL/DR:
honestly if you haven't tried this exchange you are missing out.

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July 17, 2012, 09:02:41 PM
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- It has never given me free candy.

Have you ever asked? Wink
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July 17, 2012, 09:04:41 PM
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48hr ACH for real? both ways?
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July 17, 2012, 09:11:51 PM
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- It has never given me free candy.

Have you ever asked? Wink

Got me there but don't let the candy requests distract you from other features and stuff.  I probably don't need any more candy.
EuSouBitcoin
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July 17, 2012, 09:24:40 PM
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48hr ACH for real? both ways?

BitFloor only offers ACH transfers for withdrawals from BitFloor. For USD deposits to BitFloor they offer cash deposits, bank wire transfers and (my favorite) ING Direct Bank's P2P payment service. To send USD using the ING Direct P2P service you will need an account at ING Direct and the USD that you are sending will have to be coming from that account (unlike some other person to person payment services).
jwzguy
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July 17, 2012, 09:38:47 PM
 #11

To use ACH into Bitfloor, you need an ING account. It allows you to send ACH payments to people's checking accounts without them giving you their account number.

If you don't have an ING account - just get one. ING is awesome. It's free checking with a $50 signup bonus. Also, their site is great.

As a bonus they allow free instant P2P payments amongst ING members. I use this as much as possible...so much nicer than Paypal's highway robbery fees. I wish everyone in the US had an ING account.


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July 17, 2012, 09:41:49 PM
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++1 ING Direct p2p.  I also use is with other member of the boards. 
EuSouBitcoin
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July 17, 2012, 09:58:27 PM
 #13

If you don't have an ING Direct Electric Orange checking account and want one, PM me and I'll send you a referral where you can get a $25 bonus if you open your account with $250 or more. (Disclaimer, I would also get a $10 bonus). I do have to have your first name, last name and email address in order to send you the referral. If you prefer not to give out that info, I understand. But open an ING Direct Electric Orange checking account, you won't regret it.
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July 17, 2012, 10:22:06 PM
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Hello EuSouBitcoin,

Just out of curiosity, what is your relationship and/or vested interest with BitFloor.com?

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July 17, 2012, 10:42:06 PM
 #15

BitPay uses Bitfloor on a daily (sometimes hourly) basis, and we are very happy with the service and support.  For customers in the USA, its a great place to trade.

BitPay : The World Leader in Bitcoin Business Solutions

https://bitpay.com

Does your website accept bitcoins?
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July 17, 2012, 10:50:47 PM
 #16

+1 for BitFloor!  Kiss
EuSouBitcoin
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July 18, 2012, 12:22:03 PM
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Hello EuSouBitcoin,

Just out of curiosity, what is your relationship and/or vested interest with BitFloor.com?

I am just a customer of BitFloor. I do not have any vested interest in BitFloor. If other exchanges had these 2 major characteristics:
1) a net rebate commission structure for adding liquidity to the order book
2) ways to transfer USD to/from my checking account at an American bank that are convenient, safe, cheap and relatively quick

then I'd use them and promote them as well, perhaps more than BitFloor if I thought they were better. If it appears that I'm a BitFloor fanboy (and currently I am), it's only because they are the only BTC/USD exchange that currently has both of these 2 major characteristics. None of the other top 8 BTC/USD exchanges, see the market page at bitcoincharts dot com for a list of BTC exchanges, offer a net rebate for adding liquidity to the order book. Depending on your style of trading and how often you trade a rebate commission structure may or may not make a big difference. For me, it does make a big difference. Intersango does offer a rebate for adding liquidity to the order book, but it just reduces the amount of commissions you pay. You still pay 0.35% of the value of the trade at Intersango for adding liquidity. At BitFloor you receive a net rebate of 0.10% of the value of the trade for adding liquidity.

BitFloor also has some other smaller advantages
3) BitFloor is one of the better designed websites for trading BTC
4) good customer service with quick responses
5) a phone number (what a concept!)
6) an open attitude for receiving suggestions and giving BTC/USD traders what they want

Mt Gox built a good mousetrap. In my not so humble opinion, BitFloor has built a better one. Will someone else build an even better one than BitFloor? Time will tell.
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July 18, 2012, 12:31:08 PM
 #18

Wish I could figure out how to get money into bitfloor though.. I don't have an ING bank anywhere close to where I live (I'd like to have a way to get cash in hand), and I'd rather not pay fees for wire. The free ACH withdrawal is nice though; i'm assuming ach is what dwolla uses to get money from them into your own personal bank.

EuSouBitcoin
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July 18, 2012, 12:42:29 PM
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Wish I could figure out how to get money into bitfloor though.. I don't have an ING bank anywhere close to where I live (I'd like to have a way to get cash in hand), and I'd rather not pay fees for wire. The free ACH withdrawal is nice though; i'm assuming ach is what dwolla uses to get money from them into your own personal bank.

"ING Direct" bank is an internet bank and is separate from ING Bank. In fact, Capital One has purchased ING Direct and may at some point rename it. ING Direct does offer ATMs "Access your cash for FREE through the Allpoint™ network, America's largest surcharge–free ATM network, at over 35,000 ATM locations." Go to ING Direct dot com to see the requirements for opening an account.
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July 18, 2012, 12:46:27 PM
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Wish I could figure out how to get money into bitfloor though.. I don't have an ING bank anywhere close to where I live (I'd like to have a way to get cash in hand), and I'd rather not pay fees for wire. The free ACH withdrawal is nice though; i'm assuming ach is what dwolla uses to get money from them into your own personal bank.

I used POPMoneyto fund my account, I was surprised my credit union has it.  $2 fee for standard (took me 4 days), $10 fee for next day but there's a $500 daily limit

Been very happy with bitfloor.
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