Topic: Bitcoin on Oanda - page 2. (Read 13418 times)
Bitcoin is not showing up in the OANDA Currency Converter dropdown box for me right now. Im looking under "B". Am I doing something wrong?
Thanks Mageant! As the product manager for the OANDA currency converter, I'm excited that we've added Bitcoin to our currency converter. You can read more about our announcement on our blog: http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/.
Let me know if you have any questions or comments! I'm looking forward to feedback from the community.
Chris
Let me know if you have any questions or comments! I'm looking forward to feedback from the community.
Chris
Feedback?
From your blog linked in the parent:
Quote
Despite the increased awareness around the cyber currency, OANDA has no plans at this time to introduce Bitcoin as a tradeable currency to OANDA’s fxTrade platform, or to accept Bitcoin as a method for funding fxTrade accounts. By adding Bitcoin to our Currency Converter, we are acknowledging – in a very real way – the wide-ranging interest Bitcoin has generated as a virtual payment system.
Some people get in the swimming pool one careful, shuddering toe at a time.
Some people just jump the hell in.
Failure is always an option, but...
...which of those two types of people make the great fortunes of this world - and which become 'comfortable'?
Eh. You pays yer money and you takes yer shot...
Thanks Mageant! As the product manager for the OANDA currency converter, I'm excited that we've added Bitcoin to our currency converter. You can read more about our announcement on our blog: http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/.
Let me know if you have any questions or comments! I'm looking forward to feedback from the community.
Chris
Let me know if you have any questions or comments! I'm looking forward to feedback from the community.
Chris
Bitcoin now on the Oanda currency converter:
http://www.oanda.com/currency/converter/
http://www.oanda.com/currency/converter/
To good to be true 
No BTC on Onanda 
No BTC on Onanda 
....aaaaand it's gone?
Did Oanda take it down?
Did Oanda take it down?
Also:
Quote
For your security, you can only withdraw funds by the same method you used to deposit them into your OANDA account.
If, as you quote Oanda, this remains true...
And if, as Mageant posits:
Quote
Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.
...they add it as a deposit method:
Then they become essentially an exchange for bears only.
BTC in > convert to dollars > wait for price to go down > convert back and withdraw BTC.
Makes no sense. If they accept BTC in any way, they are almost forced to provide a full exchange - or lose money on fees buying the BTC to pay out. Am I missing something?
Can't you buy BTC as well then on Oanda when this goes live
If it goes live, yes - but if you originally deposit in USD, then that's how you have to withdraw: in USD. Not a lot of bulls will want that - I certainly wouldn't - and the time and transaction fees spent putting your fiat somewhere else so you could buy BTC with them would seriously hurt the bottom line. So it would look like:
USD in > buy BTC > cash out in USD when exchange rate goes up > send USD somewhere else to buy BTC > withdraw BTC
No thanks.
but cant they send BTC >>> and exchange out through GOX
BTC is not covered by such regulations
and you would not be withdrawing USD either so its ok
Also:
Quote
For your security, you can only withdraw funds by the same method you used to deposit them into your OANDA account.
If, as you quote Oanda, this remains true...
And if, as Mageant posits:
Quote
Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.
...they add it as a deposit method:
Then they become essentially an exchange for bears only.
BTC in > convert to dollars > wait for price to go down > convert back and withdraw BTC.
Makes no sense. If they accept BTC in any way, they are almost forced to provide a full exchange - or lose money on fees buying the BTC to pay out. Am I missing something?
Can't you buy BTC as well then on Oanda when this goes live
If it goes live, yes - but if you originally deposit in USD, then that's how you have to withdraw: in USD. Not a lot of bulls will want that - I certainly wouldn't - and the time and transaction fees spent putting your fiat somewhere else so you could buy BTC with them would seriously hurt the bottom line. So it would look like:
USD in > buy BTC > cash out in USD when exchange rate goes up > send USD somewhere else to buy BTC > withdraw BTC
No thanks.
Also:
Quote
For your security, you can only withdraw funds by the same method you used to deposit them into your OANDA account.
If, as you quote Oanda, this remains true...
And if, as Mageant posits:
Quote
Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.
...they add it as a deposit method:
Then they become essentially an exchange for bears only.
BTC in > convert to dollars > wait for price to go down > convert back and withdraw BTC.
Makes no sense. If they accept BTC in any way, they are almost forced to provide a full exchange - or lose money on fees buying the BTC to pay out. Am I missing something?
Can't you buy BTC as well then on Oanda when this goes live
People on reddit have posted about Oanda support telling them actual conversion isn't in the books anytime soon.
I would love to see BTC traded on Oanda, they have one of the best trading platforms in the world. Amazing technical analysis tools, and no you don't get "lagged" although reality is there will always be slippage in high volume market moves. Forex trading typically uses a LOT of leverage and most people lose their initial investment. Bitcoin needs to stabilize before it can be traded in a market like Oanda (or perhaps being traded on major exchanges can create the stability that Bitcoin so badly needs).
I wouldn't recommend forex trading because I don't like the math on it, but still you all should check out their trading platform by creating a free game account.
I wouldn't recommend forex trading because I don't like the math on it, but still you all should check out their trading platform by creating a free game account.
Ahh yes it's just for the calculator. Too bad because they offer zero fee money transfers I've used in the past, you only pay for exchange rate spread. Dump in coins, send local funds anywhere
Not anymore they don't. Regulations forced that service down. See "Important Notice: fxGlobalTransfer, for third parties, has been discontinued". http://fxglobaltransfer.oanda.com/
The banking cartel are at war with the people. Thanks to Bitcoin, they no longer have the upper hand.
Am I the only person who thought this was a topic about Bitcoin being featured on a radio show?
Cool news, though.
Cool news, though.
Also:
Quote
For your security, you can only withdraw funds by the same method you used to deposit them into your OANDA account.
If, as you quote Oanda, this remains true...
And if, as Mageant posits:
Quote
Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.
...they add it as a deposit method:
Then they become essentially an exchange for bears only.
BTC in > convert to dollars > wait for price to go down > convert back and withdraw BTC.
Makes no sense. If they accept BTC in any way, they are almost forced to provide a full exchange - or lose money on fees buying the BTC to pay out. Am I missing something?
Ahh yes it's just for the calculator. Too bad because they offer zero fee money transfers I've used in the past, you only pay for exchange rate spread. Dump in coins, send local funds anywhere
Cool. If they added BTC pairs to their platform that would be pretty crazy.
Looks like you create your own pairs, no?
On the converter yes, but not on their trading platform.
I think once it's on their converter it's only a matter of time before they add it to the trading platform, too.
Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.
Technically, it wouldn't be hard for them to do so and there are no legal or political hurdles as with some state currencies.
Cool. If they added BTC pairs to their platform that would be pretty crazy.
Looks like you create your own pairs, no?
On the converter yes, but not on their trading platform.
I think once it's on their converter it's only a matter of time before they add it to the trading platform, too.
Maybe. There are tons of currencies on the converter that they don't offer on their platform though. I could maybe see them adding it as a deposit method.
Oanda accepts credit cards immediate funding up to $10,000USD and Paypal how long until they're frauded out of all their coins
The aren't exchanging coins. All they've done is add BTC to their FX conversion utility. No trading possible.
Cool. If they added BTC pairs to their platform that would be pretty crazy.
Looks like you create your own pairs, no?
On the converter yes, but not on their trading platform.
I think once it's on their converter it's only a matter of time before they add it to the trading platform, too.
Oanda accepts credit cards immediate funding up to $10,000USD and Paypal how long until they're frauded out of all their coins
Also:
So how do I pay in with my card, buy coins and then withdraw those coins back to my card. Guess you are buying virtual coins and don't get to keep them
Also:
Quote
For your security, you can only withdraw funds by the same method you used to deposit them into your OANDA account.
So how do I pay in with my card, buy coins and then withdraw those coins back to my card. Guess you are buying virtual coins and don't get to keep them
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