Topic: [Ann] Subcoin.com - place to sell Bitcoins (Read 2643 times)

My ACH deposit did post as schedule.

Hi Neurobox,
Thank you for completing the review and processing 2 complete deposits/withdrawals via Dwolla.
I have sent you the remaining 0.5 TBC of your reward.

Now, let me address the points:

This is strange. You should have received the welcome email with your username.
Possibly, my emails are being blocked or black-listed.
I suggest adding cs @ subcoin.com to safe list.

Yes, this options allows you to just send the money to your deposit address without creating an order.
It will be converted at BTC/LTC at the current rate and deposit USD into the account.
There was, indeed, a problem with automatically detecting those transactions.
But I have resolved it. Check out the exact issue here, in case you are interested.

Yes, I will put a clarification notice. BTW, I doesn't seem like it's possible to pay to Dwolla email.
On my account I only see pay to phone number or pay to Dwolla ID. Anybody know why?

Thank you for your review Neurobox!

There is still 1, last reward left 1BTC!
Anybody else wish to try?

Design

A remarkably simple and responsive interface, I can't stress enough how much I appreciate that it doesn't choke under it's own weight like some 2.0 sites do, and doesn't insult my intelligence. It could maybe be more intuitive in layout, but it walks you through pretty well already.

Everything else in the design is a matter of taste. It vaguely reminds me of the local cheque-cashing stores, which might be fitting. You could stylize the input forms with some css 3.0 without having to go full on jquery-ui.


Sign Up

Registration went so quick I don't remember doing it. I register in too many places I think. May be too easy, I might suggest a confirmation email. At least that helps old people like me remember the names of sites like this.

Login Settings page lets you update all account info including login name, primary/secondary email, password, etc. The option to not send any emails is pretty slick, though I haven't seen any yet.

There is a complete social profile system, which is completely voluntary. That's appreciated.


Deposit

Rates low, sent meager 0.15 to given deposit address to test the "Unexpected Deposit Order" approach, which proved to have a bug, but Subcoin resolved it quickly, hopefully fixing the issue.

Deposit with order worked flawlessly, it used the same deposit address that I had in my address book already, and began showing confirmation status immediately. I look forward to seeing this working automatically.




Add Method

When you go to make a withdrawal, it kindly suggests that you need to add a way to make a withdrawal. Suddenly it clicks, just how easy it will to be to make repeated withdrawals in the future! That's quite a feature, in fact.

Some suggestions:
 - Perhaps mention that multiple methods can be added for each network. This becomes obvious only after you've added one.
 - Clarify that "Your PIN" is your Subcoin PIN, not a Dwolla PIN.
 - As discussed, clarify that Dwolla ID (###-###-####) is needed, not account email.




Withdrawal

Easily created two withdraw orders, both for randomly solicited Dwolla accounts (can't get one outside of US). It might be good to mention the minimum withdrawal of $10, as I had thought I could send less.




Dwolla Received

Independant confirmation:

https://bitcointalksearch.org/topic/m.2758515


This experiment has been a success! I look forward to eventually being among the first to try the Western Union option.

At this point I'm confident enough to advocate for the site. In fact, I've already added a link in my sig.

Thanks for the hard work you've put into filling this need, and for your generosity and responsiveness with the community.

Well that's something I kind of glanced for, but couldn't spot. I appreciate the payment for the review.

Like I said some tweaking and refining might improve usability, but overall you are placing yourself well in a much needed niche.

Atruk, thanks for the review!
As agreed, I've sent 0.5 BTC to 1FbvVr4ggMZ4yZ9kZDteiu5znNdUow6Py9

Yes, you are correct, I will probably change that to 3 confirmations.
Also, I'm not sure why my blockchain seems to be behind by at least 2 confirmations all the time.
I will have to troubleshoot this.

I will put those at the bottom of order page.
They are specified on the FAQ's, but come on, who actually looks there 

Let's just say, I am working on it...

By reviewing the complaints customers had about other similar sites, I've noticed that many times users where not sure if payout funds were available or not. I came up with constant indication of funds availability - stop lights on the top of the website (you may click "?" next to it to get explanation). Using these indicators customers may instantly know if any particular payout source is funded or not. Red = no funds available, Yellow = less then $1k available, Green = more then $10k available. So, to answer your question, the yellow light next to "Serve" means that there are less then $1k available for payout as of right now.

The account setup process was easy. Sending bitcoin to the address provided upon order creation was easy. I do like the two separate boxes to eather place an order by dollar value or by amount of bitcoin to sell.

Once the order was created and the bitcoins sent, a lot of waiting happened. Sure blocks were taking longer than normal, but the site demands you wait out all of the traditional six confirmations even though many sites find two or three confirmations offer sufficient protection against double spending for all but extremely valuable transactions. Six confirmations is mostly a traditional thing when sites require that many anymore and as the March blockchain for taught us that when the system breaks it tends to do so in a way that even six confirmations won't guarantee anything.

While I waited I managed to add a withdrawal option on the new improved ACH withdrawal option page. It was an incredibly smooth experience.

Other than the aeathetics which might be a bit garish when it comes to things like the message box or the orange and green logo, the site could use a bit more documentation about transaction limits and withdrawal limits. Minimum withdrawal amounts (my transaction was just under the $10 minimum for ACH withdrawal) and maximum sales amounts for the different withdrawal methods could be clarified. Does a yellow light for Serve mean I could sell 10 BTC today if I wasn't a new customer? The stoplights are cool, but not very informative.

This site definitely fills a need that has been missing for quite sometime, ever since Tangible Cryptography and BTCPak left this space.

Most problems just seem to be ones of refinement that can be worked out in time, things like text field size as identified earlier. This isn't a bad implementation, and I hope it works out in the long run.

Awesome, thanks!

Hi Boelens,
Good job! Thank you for your honest review.
1 BTC reward has been sent: 1BoeLensDrVHLjYW4pPab5UENKBuDupfKt

Yes, with this website I was shooting for "simplistic".
The whole idea is NOT to have a single useless thing anywhere.

I agree, about the new message notification, I'll change it be less obnoxious. 

....
Still, the last 1 BTC reward remains! Any takers?

Well I sent coin anyway and it is in the process of being confirmed. So far other than that field hiccup things are smooth.

Edit: as of now confirmations displayed on your site seem to be lagging 2 behind the blockchain.

So, this review will actually be my 1000th post! Interesting.

Now, the signup was very easy, the design is simplistic which makes it easily navigatiable for less advanced users like me. I also like the pin as it added extra security and also has keylogger prevention, however I think many users would appreciate the option of 2 factor authentication.

After the signup was done I got to the home page, as I said, simplistic, four points explaining exactly what each page is for and what the features on it do. However it'd be nice to have them link to the actual page of the feature.
Reference to what I'm talking about :


Also, I found the flashy red envelope on the site a bit obnoxious, I think a simple 'messages(1)' would have been enough.

Once this was done I went on to deposit. I have no bitcoin to sell currently so I took a litecoin out of my litecoin investment and deposited it through BTC-e. I was a bit confused at first as I thought I'd just get an address to deposit too and then later have the ability to sell, but I first have to make a quote. Alright, so I made a quote for 1 LTC, and deposited through the address. Soon the order popped up in my transactions list and just after that it was confirming, great! It's working, all is still easily navigatible and I'm seeing exactly what I'm doing. Also, the order form is very easy to navigate, i can see the info I want to know of my transaction easily in one place.

And shortly after, the transaction was confirming!


Everything in the confirming process went surprisingly quickly, now this has to do with the LTC miners lucky, but in general everything was processed very quickly, it's a faster experience as of right now then with BTC-e, which is good!

Before I knew it, my transaction was confirmed and boom, the funds were there!


And boom, the funds are in my account. As of now I sadly cannot test withdrawals. (It'd be expensive to the Netherlands, I only withdraw if I have a bigger sale, but if you keep this site up I will do that in the future! )

My pro's of the site :

• Simplistic design, and done so that it is easy to navigate.
• Very easy to place orders, and deposit. It also went fast!
• Explains features well on main page immediately, easy signup process and secure.

I haven't found any real cons too be honest, except for the messages tab which could be a little less obnoxious.

Overall rating would be 8/10 if we're rating it. It was easy to use but at times it was a bit buggy, in example if I refreshed my transaction it would sometimes say the transaction didn't exist, and I'd have to reclick it. (The url stayed the same, I can't seem to identify a pattern that causes it to happen). Once I have some BTC for sale which soon will be, I will probably use this site! It's been quicker then the other services I've used so that's a pro.

I hope this helps and you can do something with this feedback! If you feel like this feedback helped you / gives you a good review, feel free to leave a bitcoin at : 1BoeLensDrVHLjYW4pPab5UENKBuDupfKt as you said in a post. If you need any further testing / another feature reviewed tell me and I'll do it. I can also later on possibly post about a withdrawal, if I sell some bitcoin in the future. For right now I'll juts keep those 2.70$ in my account =).

EDIT: If anyone with a Dwolla account wants to help fill this review by confirming withdrawals work and wants a free $2.70, feel free to hit me up a PM.

Good job! I've upped it up to 20 char max.
Though, I thought 10 char would've been enough... I guess, not.

Well I've immediately identified an issue, your account number field for setting up ACH is too short. In my case by three digits.

Alright, I've sent 0.1BTC to 1FbvVr4ggMZ4yZ9kZDteiu5znNdUow6Py9
If you process a valid transaction, I shell reward another 0.5BTC.
But, please post here, how did it go: how long it took, what payout method you've used, etc.
I want readers to get the feedback about the site.

Thank you.

At present BTC prices I'd prefer to take the lower payment. I could then cycle it through a transaction on your site, and if you'd want to give some partial payment of the larger reward that would be fine. I'm just not thrilled at the prospect of selling at today's prices.

Hi Atruk,
Thank you for checking out the website and letting me know your opinion.
I would be delighted to reward you 1 BTC, however, my objective in offering this reward was to test the actual processing of BTC/LTC transactions.
The processing engine is the complicated part - it has to automatically issue the deposit address then keep an eye on incoming transactions and confirmations. At the end it has to add to the user's balance and process the withdrawal. That's the process I hoped people would test.

That part was not completely clear in my original reward post - I have now clarified it now.
To be fair I could offer you 0.1 BTC for checking it - as is.
Or you may actually, process the transaction (min is 0.1 BTC or 10 LTC) and then receive 1BTC reward.

I got to this point. I was a very quick sign up. I think you could do a lot to clarify the order process and that this is an site buying bitcoins like Tangible Cryptography's old FastCash for bitcoins services. When I'm ready to cash in some coins (i.e. not on a down day like today) this seems like a quick site I'll consider putting a transaction through.

The diversified payment methods are definitely a plus. ACH deposits like you offer are always a plus.

Other than refining some of the site organization to streamline the process and explain it more, you might have a winner on your hands.

1FbvVr4ggMZ4yZ9kZDteiu5znNdUow6Py9

I've also cross-posted the review to your Litecointalk thread, I'm not a full member on there though   (I'm working on it, heh)

Thanks for the 1 BTC!

I can try it.

Hi DiamondCardz,
Thank you for amazing review.
I have sent you 1 BTC (1Diaz9Nhs8d8GEXcwTJQKDkwzKj34UH2r4) as a reward for effort.

The home page ordering was kind of an afterthought.
Because initially I've created the order page and assumed that people would order from there.
That page, https://www.subcoin.com/my_new_order.php, has been tested in and out.
Later realized that I had to put something on the home page and decided the form to start the order.
When user is logged in - home page does nothing more than redirect to order page.
It would seems it's missing some needed variables when redirecting.
Thanks for finding this bug!

I have given away 3 BTC's so far.
1 to Moose (aka cptmooseinc); 1, pending for neurobox; 1 to DiamondCardz.

There are still 2 for grabs for Full+ members.
Would anybody else like to try service and receive the reward?

I decided to test the "Bitcoin" and "Litecoin" options.

First impressions

The site looks basic, but is not as horribly coded as some BTC sites. It could use a bit of tweaking to make prettier, though.

I like the Volatility percentage, quite nice to see it there, as well as the price changes. I typed 10 into the "Sell Bitcoins" field, and was instantly given a quote:


Very nice!

Making an account

I went to https://www.subcoin.com/join.php and made an account. Sure enough, the signup worked fine, although the PIN could be improved. Maybe allow the PIN to contain letters and numbers? (Limit the characters, ofc, and force numbers or letters+numbers, we don't want people to use their passwords or "woof")

Sellin' dat BTC/LTC

Like I said above, I was given a quote. However, when I typed in 10 LTC on the LTC field and asked for a quote, DESPITE new accounts having a max transaction size of 100 LTC, this error popped up:



That's not too good! Might want to fix that.

The same thing happened on a 1 BTC quote. And a .9 BTC quote.

Eventually, I went to the proper page rather than the glitchy home page (fix that, please!), and I got put through!



I clicked to place my order, and was given a deposit address:



I stopped there, 'cuz I don't have any LTC on me at the moment, and I can't withdraw anyway (<18!).

Final rating: 7/10

Just needs a little bit of touching up, subcoin, and you'll have a nice site.

Also, misspelling: It's profile!  



This amazing review is sponsored by 1Diaz9Nhs8d8GEXcwTJQKDkwzKj34UH2r4

farlack,
Thank you for you advice about Serve.com
From now on I will require people to be verified before sending money via Serve.com.
Besides, receivers won't be able to withdraw from Serve.com without being verified anyway.
However, once verified, users automatically get Amex ATM card that could be used
pretty much in any ATM in the world - very convenient.

Mooshire, thanks for your feedback.
We'll do something about the background 

Hello subcoin, would love to help, but unfortunately, I am under the age of 18, and though I don't like regulation, I'd rather not have my funds frozen by someone 

I can however offer some feedback on your website. First of all, maybe a background that doesn't look like wallpaper i'd find in a retirement home 

Other than that, i'm of no use to you haha. Don't use paypal, and don't get screwed over by idiots. Good luck with your website!

You're going to get screwed over a lot with serve, if the other party for what ever reason needs to validate them self, they freeze both accounts until that person validates them self.

@Subcoin

Those who don't wish to share that information don't have to choose the WU option then. (: They give up their identity anyway when they accept Dwolla or ACH withdrawals. Users of your site will most likely be legit people who need to cash out mining profits, gambling winnings, etc. Anyone who might be using more illegal services (such as SR) will either use something like LocalBitcoins or cash in the mail services to avoid giving up too much identity information.

@Bitcoin Megastore, understood. I have exactly the same problem!

I am looking at adding WU right now. But it doesn't look easy.
Many fields need to be added to the database to store WU-related info.
I hope, it will be done in a few days.
Also, I'm not sure, if BTC/LTC users will be willing to share such personal info
as names, location, identification numbers...
All of which are required for me to send the payment.

Hi Bitcoin Megastore,
Yes, in light of recent "crack-downs" on Bitcoin businesses in US.
From the legal point of view, we decided to organize it in Russia.
So, it is hosted and being ran from there.
I have dual citizenship in US and Russia.
And would not have any problems being an American business,
if not for draconian regulations by the government.
Thank you for you understanding.
Denis

Hi Neurobox,
I've setup an account on Western Union. Everything seems to be pretty straight forward.
However, their fees are not $5 (that's only for $50 and within US)
Their fees depend on the amount and the "speed" of payment.

For $500:
Instant pick up at the location - $45 fee
1-3 days & pick at the location - $10 fee
3 day ACH & pick at the location - $10 fee

Additionally, they will require some personal information about the receiver before I could start sending.
Needed info: Receivers fist name, last name, city, state,
ID type (drivers license, passport, state ID card, government ID, alien ID), ID issuer, ID number.

I have not yet integrated all this into subcoin.com - working on some bugs that Moose found, first.
But if you wish we can do small transaction and see how it goes.
You will have to send me the receiver's info via PM.
I suggest 3 day ACH payment for $10.

I'd like to suggest the likes of Western Union... You can send online, the ~$5 fee is not unmanageable, and there's no messing around with sensitive bank account numbers. You offer that, I'm all over it.

Hi Moose,
The 1 BTC reward is sent - Confirmed
Thank you! I was trying to send you back the PM with info, but forum is limiting my replies to 1 per 360 seconds...

...
Neurobox
RE: "ACH"
I'm pretty sure any Canadian bank should be able to accept ACH
(since they are the part of North American ACH system?)
We could definitely try some small payment on existing account.
I'm not sure if it would be worth the effort for you try open the new account just for that, though.

While my local bank supports ACH, the same approach is used for PAP withdrawals. If I were inclined to open an account solely for receivables, I'd be more open to trying it. Also if I had enough BTC on hand to make it worthwhile, it would certainly be the quickest way to go.

Hi Moose,
Yes, I have already sent you the $22.62 via Dwolla *8754
Indeed the transaction has already 10 confirms, but not showing in our system.
Troubleshooting it now. Should be cleared through the system in a few minutes.

Your 1 BTC reward is on it is way

Hi neurobox,
I'd think, Serve would work for Canada, but I'm not positive.
What other payments methods are there in Canada?
Do you have ACH (aka Direct deposit)?


We won't be doing Paypal any time soon.
I have some really painful memories from last time I've dealt with them...

Thanks
Denis

Going to use a small amount of LTC to make a Dwolla sale in a minute. This is a placeholder that I will edit and update with my results as soon as it's finished. Subcoin, my BTC address is in my signature for you to send the 1BTC to after I make the review. (:

[EDIT]:
Review:

Sent 8.10806096 LTC @ 2:49pm CST. Fully confirmed on the blockchain by 2:56pm CST. Address funds were sent to was http://litecoinscout.com/address/LhsQ9eKC3iax2LDQGijecRKZsR6pwVaxSw

I'm not sure how long the system is set to check for confirmations, but the deposit has 9 confirmations as of this post, whereas the website still only lists the transaction as "Created" with 0 confirmations. It's been 16 minutes since I sent funds now. I've PMed subcoin about it to see why there's such a processing delay. Not worried yet, just figure it might be a bug. It's a small amount of LTC anyway. [/EDIT]

Second Edit:
Again, deposit was started at 2:49CST. Processed at 3:10CST and payment was instant to my Dwolla. Not sure if the system pushed it through automatically or if it had to be pushed through manually by subcoin himself. Either way, I got paid and in an okay amount of time.

Subcoin, I would suggest you try to update things a little faster on the site. Bitcoin confirms are much slower than litecoin, so longer waits are expected. With how fast LTC pushes blocks, 6 confirmations should be had within 10, maybe 15, minutes tops. How many confirms do you require before paying out for your site? Also, I noticed you cannot just "refresh" the transaction on your website. If a transaction is in "Created" mode and moves to "Processing", refreshing that link returns a "No Transaction Found" page. You must go back to the list of transactions and click the new page. Kind of annoying.

To everyone else, site isn't all flashy and new looking, but it seems to work. I would personally use it again for -small- amounts of coin until a longer period of trust has been established by a much larger group of users. Since I got paid, there's no reason to not trust Subcoin (at least for Dwolla withdraws, I can't confirm other methods but may test them out when I get some more LTC), but I wouldn't send more than you can afford to lose.

Not bashing you at all subcoin, but trust is of the utmost importance with these cryptocurrencies. I like what you have offered here, and it's a decent replacement for fastcash4bitcoins.com since they're no longer buying. Keep up the good work and try and work on the things I listed above. Please send 1 BTC to my BTC address in my signature. ^_^

-Moose

It actually looks rather straight-forward, if one could find their way around bitinstant or any exchange, they can do well here. I'd like to fully participate and offer a full review, but in Canada I can't get a Dwolla or Serve account. The ability to reload an AMEX Serve card would be really handy.

Alright!
How about this:

Announcing 1 BTC reward to each of the first 5 Full or Hero Members who try the service and post feedback here.  

To receive BTC, please post your address.

[edit] 7/18/13 - by "try the service" I mean to actually process at least the min transaction of 0.1 BTC or 10 LTC (I need to test the actual website engine that automatically checks/processed transactions) [/edit]

Yes, I would also appreciate feedback about design/functionality.
I know my design skills are mediocre at best  ... sorry about that.

Hey, Mooshire, nice website - https://inputs.io/ - very Web 2.0!
You wonna try the service and sell some BTC/LTC?

Can anyone give an opinion on this site?

Hi,
Announcing the launch of www.subcoin.com.
The website that is solely dedicated to purchasing BTC/LTC.
At this time we are not selling or exchanging any coins.
We able to buy BTC/LTC and pay via methods:
- Dwolla (free)
- ACH aka Direct Depost (free)
- Bank Wire (US $20, International $30)
- Serve.com (free)
Our exchange rates are based on BTC-E last price.

Feel free to ask any questions here, but, please, first see the FAQ's

We will be checking out this thread and will try to answer all requests in timely manner.
Additionally, we would ask people to post their feedback about processed transactions.

Thank you
www.subcoin.com
Customer service - Denis and Alina