BitVc - A New Trading Platform From Huobi - page 2.

joele

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Activity: 1022

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Quote from: TwinWinNerD on July 28, 2014, 06:13:40 PM

Quote from: capoeira on July 28, 2014, 07:53:41 AM

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

What is the current interest rate for BTC and LTC?
Thanks

capoeira

legendary

Activity: 2404

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Quote from: smiley123 on July 28, 2014, 10:38:18 PM

Does anyone know if there is going to be API available. I didn't see any info on the website about it.

probably....This page seams to be kind of beta still

smiley123

member

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Does anyone know if there is going to be API available. I didn't see any info on the website about it.

capoeira

legendary

Activity: 2404

Merit: 1003

Quote from: TwinWinNerD on July 28, 2014, 06:13:40 PM

Quote from: capoeira on July 28, 2014, 07:53:41 AM

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

thank's...I'll give it a try as a trader

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Quote from: capoeira on July 28, 2014, 07:53:41 AM

any more expiriences on that one?

Some experience with lending BTC:

you don't really get paid for the first day, if you deposit you get your first payment ~48 hours after and then every 24hours. Also the interest is very low (but still higher than bitfinex!). Withdrawing from the lending system is instantly, but again you forfeit 1 day of interest.

I like the bitfinex way much more.

capoeira

legendary

Activity: 2404

Merit: 1003

any more expiriences on that one?

WeMineCoins

member

Activity: 63

Merit: 10

Been using BitVC for a week now for the savings account feature not quite sure how to judge it thus far but I have about $60 worth of litecoins in there. My biggest complaint is that they only go to the 4th decimal for accounting in digital currency "0.0000" as opposed to going to the 8th, not sure why they do this but I've gotten over it since I started to make deposits only to the 4th decimal as well. Haven't tried to withdrawal anything yet so I can't comment on that part either. Waiting till they get out of beta to trust the service with more money.

Ashitank

hero member

Activity: 560

Merit: 500

Quote from: huobi_network on June 23, 2014, 06:57:59 AM

BitVc is a new trading platform which allows margin trading of Bitcoin and Litecoin. Like Huobi, there will be zero trading or withdrawal fees. BitVc is based on Huobi's API and will support BTC/LTC derivatives and financial instruments. BitVc will be focused on margin trading, derivatives, and other financial instruments, while Huobi will continue to be mainly a spot trading platform. The API will be opened later for other developers to create applications on it. BitVc was created by the people behind Huobi, which has an impeccable security and performance record. It is registered to Huobi's subsidiary company in Hong Kong.

BitVc features a new product/service called Yubibao, which is an interest-bearing BTC/LTC account within BitVc. You can move your BTC/LTC into your Yubibao and withdraw into your normal account instantly and at any time. Yubibao gives risk-averse people a safe, easy way to put their coins to work for profit. Interest is derived from traders who borrow to trade on margin. Rather than setting your own loan terms, BitVc pools all the deposits in Yubibao and offers the same market rate to all savers and borrowers.

BitVc is currently in invitation-only mode, but you can send me a message if you want an invitation code. Your feedback would be much appreciated.

https://www.bitvc.com/

http://newsbtc.com/2014/06/16/chinese-bitcoin-exchange-huobi-launch-virtual-currency-based-derivatives-platform-bitvc/

Guy just wanted to let u know be carefull when doing margin trades on bitvc , they seem to have very laggy & slow server response time. Angry

, i dont know this is in purpose to make margin traders loose money or something.

elebit

sr. member

Activity: 441

Merit: 250

Quote from: davidgdg on July 16, 2014, 05:29:03 AM

Dollar rates for leveraged buyers going long are a different story, but Huobi are not offering dollar deposits.

Well, they offer CNY desposits, don't they? Unless all the talk about coupons and indirect fiat deposits were lies, they probably have a lot of (potential?) Chinese traders who also want to go long on Bitcoin.

davidgdg

hero member

Activity: 552

Merit: 501

Not sure I understand how these BTC interest rates work. The only people who need to borrow BTC are short sellers. But there are not many of them and you would expect the interest rates to be very low (on Finex they are about 0.5% per YEAR). Dollar rates for leveraged buyers going long are a different story, but Huobi are not offering dollar deposits.
All very weird.

huobi_network

newbie

Activity: 13

Merit: 0

Please send me a PM to request an invite code.

hodap

full member

Activity: 306

Merit: 102

Like an invite code also.

What is the current rate on RMB and btc?

21pilot

sr. member

Activity: 252

Merit: 250

I would also be interested in an invite.

(I also gladly sign up under your referral link if they already have an affiliate system)

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

I'd like to check it out too!

Invite code please if anyone has one left.

superbit

hero member

Activity: 763

Merit: 500

I'll take a invite to check it out if someone has one.

ashish12

sr. member

Activity: 353

Merit: 250

BITCOIN

anyone invite ?

PhilippeStevens

full member

Activity: 214

Merit: 100

Can someone send me an invitation

Emule

full member

Activity: 168

Merit: 100

might as well get intrest on your BTC while sitting on your account, will try for sure!

aonori

newbie

Activity: 6

Merit: 0

I got invited code from huobi at reddit, and resisted.

In my understanding, cny/btc/ltc borrower first pays 0.1%/day and interest grows 10%/ 10days.
So after first 10days, borrower will pay 0.11%(0.1% *10%).
And after 250 days,borrower will reach 1% cap( (0.1%*1.01)^25=1.08%).

lender get 80% of borrower's interest.

Is this correct?

elebit

sr. member

Activity: 441

Merit: 250

Quote from: MatTheCat on June 23, 2014, 10:22:24 AM

So would you go to bed without a stop loss on a leveraged trade? I soon learned that setting stop losses were just a way of helping the exchange insiders farm my arse, so I stopped doing it.

I see what you're saying here, but you can never protect yourself completely from stop loss farming. If the insider's don't get you, the whales will. Especially now that Finex is decoupled from Stamp. A whale with a thousand coins to toy with could do some real harm there.

Myself I am much too scared to trade this way.

Quote from: MatTheCat on June 23, 2014, 10:22:24 AM

Say you got in on May 23rd with 10000 USD leveraged trade. The interest you would have to pay on that trade for one month would be around $900 USD. That is more than your profit margins would be today. Well done, you are on the winning side of the trade but are in the red.

Yeah, sorry, I don't have an answer to this. The interest is just too high because the market is illiquid. More and larger exchanges will only make the situation better. That's why I like what Huobi did, in principle. I will defer judgement until I see it in practice.

Topic: BitVc - A New Trading Platform From Huobi - page 2. (Read 6860 times)