It's likely that BitcoinFridge purchased Bitcoins at or near the height to satisfy its customers demand (https://bitcointalksearch.org/topic/m.1772906), probably in bulk...then the market crashed. If BitcoinFridge has purchased at even 120 GBP / BTC (I'm probably being generous here) - the current price is ~74 GBP. A 2.5% markup (~1.85 GBP) on the Mt Gox last is only going to cover approximately 4% of the difference. In effect, that's a 96% loss on the current BTC price.
BitcoinFridge runs on a flawed model. It's all fine when there is either A) relative stability in the market or B) a consistently rising Bitcoin price, but when either of those conditions is false, the wheels fall off. Shame really because it was pretty fast at processing orders.
Topic: bitcoinfridge.co.uk is now open (Read 1338 times)
To be fair, my approach was during the crash. But didn't get any response at all, even to my follow-up. A shame because it looks like a great service and the feedback is generally really good. Perhaps I'll try again next time I'm buying in.
I never received any response trying to buy (6th of April). Very frustrating as I had held off using an international exchange, knowing it would be easier to buy directly with a UK bank transfer. I feel like I missed out on a big chunk of boom profits because of this. However I know others who have traded successfully with bitcoinfridge.
Could have also saved yourself from buying in at $260
6th were reasonable prices $150~
What verification do they require?
nothing unless you are a frequent user withdrawing large amounts.
basically all you have to go by is the sites feedback, which is 100%.
i assume he doesnt want to sell at crash prices, which is a bit annoying but hey. since btc is rising again now might be a good opp. to buy off him.
What verification do they require?
I never received any response trying to buy (6th of April). Very frustrating as I had held off using an international exchange, knowing it would be easier to buy directly with a UK bank transfer. I feel like I missed out on a big chunk of boom profits because of this. However I know others who have traded successfully with bitcoinfridge.
maybe because mtgox closed, he quotes them.
I'm still waiting for a reply a few days later. Haven't followed it up though.
really? strange...
I'm still waiting for a reply a few days later. Haven't followed it up though.
Anybody had any experience? The delay going TransferWise > Bitstamp is killing me here.
yes, bitcoinfridge had 4.6 BTC in my wallet within an hour, highly recomended
Anybody had any experience? The delay going TransferWise > Bitstamp is killing me here.
Well it's become difficult to purchase bitcoins in the UK, blockchain.info has withdrawn from the UK market.
At the moment the best option seems to be transferwise + bitstamp, which has a turnaround speed of 1-3 days.
bitcoinfridge.co.uk work all through the week (weekends) and, according to their feedback, can have bitcoin in your wallet within the hour. Quicker in some cases. It also charges the current Mt. Gox value +2.5%, which I think is reasonably....reasonable.
At the moment the best option seems to be transferwise + bitstamp, which has a turnaround speed of 1-3 days.
bitcoinfridge.co.uk work all through the week (weekends) and, according to their feedback, can have bitcoin in your wallet within the hour. Quicker in some cases. It also charges the current Mt. Gox value +2.5%, which I think is reasonably....reasonable.
So what are the benefits of this over other real exchanges?
So, what do people think the turnaround rate will be?
It was open before, what was it like as a service then?
I'm nearly going to go through the transferwise > bitstamp method, it seems to turnaround in 1-2 days usually.
cheers for input
It was open before, what was it like as a service then?
I'm nearly going to go through the transferwise > bitstamp method, it seems to turnaround in 1-2 days usually.
cheers for input
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