Hey everyone!
BitcoinOPX is an exchange that offers bitcoin options, and now also currency exchange:
https://bitcoinopx.com/currencyWe match buyers and sellers using MoneyPaks as the medium of exchange. MoneyPaks can be bought throughout the U.S. at 7-Eleven, CVS, Walmart stores and more for $4.95. They can then be loaded with dollar amounts up to $500 (and $1,000 at Walmart).
Our rate is .1 BTC (about $0.85) flat for MoneyPak code transfer from buyer to a pre-paid card of a seller.
Compare fees and time delays for existing methods:
A new buyer of bitcoins wants $1,000 worth, and a seller wants to sell that much.
The buyer drives to a local Walmart and buys a MoneyPak for $4.95, loading $1,000 to it.
List the offer on BitcoinOPX.
Buyer exchange amount: $1,000Total fees: $4.95 + .1 BTC (about $0.85) =
$5.80Time to receive BTC:
less than 4 hoursSeller exchange amount: $1,000Total fees: .1 BTC (about $0.85) =
$0.85Time to receive USD:
immediately up to $400 cash per day available at ATMs
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List the offer on Mt.Gox
Buyer exchange amount: $1,000Total fees: .5% = $5.00
Time to receive BTC: 3-5 days for deposit from bank to reach Dwolla
Alternatively using BitInstant:Total fees: about 4.49% + $1 = $46.00
Time to receive BTC: less than 1 hour typically
Seller exchange amount: $1,000Total fees: $5.00 + $0.25 (.5% plus $0.25 Dwolla fee) = $5.25
Time to receive USD: 3-5 days for withdrawal into bank via Dwolla (now requires verified ID)
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List the offer on CoinBase
Buyer exchange amount: $1,000Total fees: .5% = $5.00
Time to receive BTC: 3-5 days for deposit from bank via ACH*
Seller exchange amount: $1,000Total fees: .5% = $5.00
Time to receive USD: 3-5 days for withdrawal to bank via ACH*
*Coinbase exchange is not fully operational; ACH clearing times are estimated
As you can see by using MoneyPaks we can offer very fast times and cheap fees for exchange!