Topic: [ANN] Bitnik Reload - Instantly, automatically and reliably rebuy spent Bitcoin (Read 1488 times)

Part of our Reload Use Cases series: Bitnik Reload increases profitability of LocalBitcoins trading

https://medium.com/@Bitnik/bitnik-reload-increases-profitability-of-localbitcoins-trading-496872f376d6#.55hpqec9z

NEWS: Bitnik Reload adds BitGo wallet direct integration. From now on Reload allows users to link a single address wallet, a LocalBitcoins account or BitGo multi-signature HD wallet on one side with the favourite bitcoin exchange on the other. It automates rebuying of sold bitcoins and provides insightful reporting — both features crucial for successful and streamlined reseller business in a highly volatile market.

Read more on Medium: https://medium.com/@Bitnik/reload-now-fully-supports-the-bitgo-wallet-2fd0c734f193#.nehafs2tf

Bitnik Reload now supports direct (OAUTH authenticated) integration into LocalBitcoins. User links his LocalBitcoins account and Reload will automatically place rebuy orders on selected exchange. The trigger is a released sale contact.

This tool allows LocalBitoins resellers to simplify their business and helps mitigate volatility risk.

We're looking forward to any kind of feedback!

ps. HD (BIP32) wallets support is coming soon. 

Since we would like to enhance the Reload service and add future features, we would highly appreciate any kind of feedback from users, who have already registered and tried & tested Reload; https://reload.bitnik.eu
Any kind of feedback highly appreciated, here the link to our Reload Survey: https://docs.google.com/forms/d/1YbOSic8H8Vq32cKkI-9ouG9tB1Ij8MN0eGaBZj_OnhQ/viewform
The survey is anonymous and none of the questions are obligatory. Thank you for your time and help!

"Reload allows users to relax and spend their precious coins on goods and services without worrying about the Bitcoin supply. The service is available for BTM operators as well; they can use Reload and replenish their supplies from various Bitcoin exchanges. Interestingly, Reload is completely anonymous and does not hold user’s bitcoins. Anyone can sign up for the service; however, users must have an email address, single wallet address, and Exchange API credentials."

A new article about Reload on Bitcoinist.net, read more here:
http://bitcoinist.net/beatnik-reload-enables-bitcoin-repurchasing/

Hi,

That is correct.

Some users use a secondary exchange account for Bitnik Reload. Keeping moderate fiat amount on it. Connected to a wallet with low bitcoin balance on phone. Low risk and convenient spending mechanism.

One way to look at it is like a top-up card. Load it with fiat, spend it where bitcoins are accepted. If you know of anyplace that knocks the price down for bitcoin payments you are also saving money, not just spending bitcoins without volatility risk.

Hi, Just wanted to clear something.

Correct me if I am wrong but one has to integrate his exchange account to bitnik to be able to buy bitcoin instantly and automatically and that exchange account needs to be loaded with cash atleast for the amount required to buy the same amount of bitcoin spent?

Or am I missing something..

CoinDesk PR: http://www.coindesk.com/press-releases/bitnik-launches-reload-bitcoin-repurchasing-reporting/ 

Presenting Reload at the Bitcoin Conference Prague - http://bitcoinconf.eu/en
If you are in Prague, visit us at the start-up alley  

https://i.imgur.com/iYTJnkw.jpg

We have integrated a new exchange - Cointrader with Bitnik Reload and partnered with Newnote Financial to Integrate Cointrader.net API in ABM Machines
Read more here at http://www.stockhouse.com/news/press-releases/2015/04/29/newnote-financial-partners-with-bitnik-reload-to-integrate-cointrader-net-api

Informative article about how to use Reload service with Taurus exchange on Medium by Yuri Yerofeyev:
https://medium.com/@yerofeyev/reload-your-wallet-with-taurus-edbc28c081bd

Thanks, we are here to spread the word, answer questions/concerns and hopefully get some feedback to know which additional features the community would like to see.

We are posting from a new account as we do not have a mature account. None of us is active on this forum, but we recognize it's importance, that is why we consider this post most important of all forums. I can invite you to probe through other provided contacts to see if we are the company we are claiming to be. This should provide some trust as we have a nice social and web presence and the founders are easily googlable. Maybe main thing is the video that's also linked. That's a serious production level!

We also recognize that a lot of things in Bitcoin are dodgy, so user security concern is a hot topic. We prefer to not have big security concerns at all than to solve problems later, so:
- we do not hold user's coins
- the API permissions required can be of low risk ('buy' is the most problematic, but even this has limited potentials for an abuser or an attacker)
- service is completely anonymous (in case you would be concerned about your data)

Feel free to challenge us. We can provide personal contacts of people that can be verified (onename,...).

This is a great idea / concept.

This seems a bit dodgy though, what's the reason for the new account?

thank you!
yes, exactly, it is a free service that can hopefully benefit some of the bitcoin aficionados (especially those who by things with btc and want to hodl them at the same time)...
i guess we should add free bits for every new user to get the crowd going

Nice concept

Don't know why you didn't receive much attention yet 

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https://i.imgur.com/3ExwK1V.jpg

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BITNIK RELOAD

Reload is a service that binds your bitcoin wallet to your bitcoin exchange account: whenever you spend bitcoins from your wallet, Reload will use your exchange account to immediately repurchase the same amount of bitcoins.

Reload is completely anonymous and does not hold user's bitcoins. All that is required is an email address, single wallet address and exchange API credentials.

Reload is completely free!

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Update 21th September 2015

LocalBitcoins direct integration added. User can now authenticate Bitnik Reload with to connect with LocalBitcoin account. Reload will get info about released LocalBitcoins contact and will act accordingly.

FEATURES

Independence: Reload supports several wallets and many exchanges out of the box. If one exchange happens to be down, you can switch to another with a few clicks.

Ease of integration: All necessary configuration is done in Reload, except for one-time creation of the exchange API keys that is done on the exchange. No configuration of the wallet is necessary.   

Safety: We never can, or want to, have direct access to your funds. Your private data (Bitcoin addresses and exchange username) are always transferred in encrypted form, and the most sensitive data (API secrets) are stored encrypted.

Privacy: Since we never manage your funds, we don’t require you to provide any personal data; an e-mail address so we can reach you is enough. You can also deny Reload access to data from your exchange account (past trades, balance etc.) on exchanges that support this.

Speed: Under normal circumstances, Reload will repurchase the bitcoins you spend in seconds.   

Reliability: If an exchange is down temporarily, Reload will repurchase your bitcoins when the exchange becomes available again. The same goes for cases where your account lacks funds, or your API keys lack permission etc.: Reload will do its job later when it can. Reload will also take care of each exchange’s quirks (like minimum order amounts), market volatility (retrying if orders don’t get executed immediately), and other uncertainties of the Bitcoin exchange world.

Availability: Our software runs on Google’s servers, providing extremely high availability. Our own Lamassu BTM has been using Reload for repurchasing sold bitcoins for months.

Transparency and reporting: If you’ve ever done manual repurchases of your spent bitcoins, you know exact accounting can become complicated since payments and exchange trades often don’t match one-to-one. Reload takes care of this for you and calculates the exact price of repurchase for each payment even in the complicated cases.


 

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SUPPORTED EXCHANGES & WALLETS

Currently we support the following exchanges: Bitstamp, ANX, BitcoinToYou, Bitfinex, BitVc, Bleutrade, BTCChina, BTC-e, BTCTrade, CexIO, Coinbase (brokerage), Hitbtc, Kraken, Loyalbit, OkCoin, TaurusExchange. We are adding new supported exchanges according to popular demand.

In general, Reload currently supports any wallet that uses a single address. Wallets that automatically cycle addresses (even change addresses), either randomly or deterministically (eg. using BIP 32 / HD-wallets), are not yet supported; support for BIP 32 is planned.

Find out more: FAQ
Reload tutorial video

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SOME POSSIBLE USE CASES

- for everyone that owns Bitcoins (spend Bitcoins for any purchase, but hold on to them by rebuying them instantly)
- LBC sellers for reporting and automatic rebuys
- for remittance (sender locks the price)
- BTM operators for reporting and exchange integration

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COMMUNICATION CHANNELS

Website: Reload
Email: [email protected]
Twitter: Bitnik_eu
Facebook: bitnik.eu
Vimeo: Bitnik
LinkedIn: Bitnik
YouTube: Bitnik

Best bitcoin video so far: Bitcoin in Ljubljana

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