Topic: Introducing BitSimple. A simpler way to buy and sell bitcoins. - page 4. (Read 14327 times)

bitsimple.com and tangible cryptography websites have both been down for 2 days.
??  gone?  or what's the deal?

Support for international users will be added by the end of this week.  It expect it will be added and announced sooner, but I was told to use end of the week as the timeframe.

I am sorry you seem to be having problems getting verified with BitSimple.  Some credit card companies don't post pending charges to online account activity.  The process should be nearly instant so if no charges appear within minutes they aren't going to appear a week later.  The site recommends that if your online account activity shows no charges to contact the 1-800 number on the credit card.  We don't actually complete the charge to a credit card until verification is complete to ensure users aren't charged when they can't verify.   

At this time I don't show any unprocessed PayPal verification payments.  If you prefer you can send me a PM with your ticket number or username (email address) and I will take a look at your account.

This service seems to be a black hole.

Tried to verify via credit card charges, none post to my account after waiting a week.  Try to verify by bank account, again, no transactions.  Then try to verify by Paypal, once again, no transactions.

Send a message to their support, no response.  Is this a company full of Miltons in the basement just collecting paychecks?

Any word yet on when you'll begin allowing non U.S. residents to use BitSimple?  I'm not living in the U.S. but my bank account is there, if that matters.  Thanks.

We are looking at adding additional funding options in the future.  Some banks allow sending a bank wire online so a trip to the bank isn't always required.


Yes BitSimple is owned by Tangible Cryptography, the same people who offered FC4B.


There was an issue with bitcoind service, which has been resolved.  Please send an email to [email protected] if you continue to have issues.

Are you guys trying to compete with anyone or going to expand ways to move/buy bitcoin? The only thing I have to compare you to is Coinbase which pulls funds from my bank account with an automated online process, using a credit card as a backup method. No going to the bank. Just walking into banks these days makes me cringe.

I do remember fastcash4bitcoins and assume you guys are the same people? Well derrr, you must be. It redirects.




When I selected "sell bitcoins" I received this error:
"Error: unable to obtain new address. Support has been notified"

Ah, I did not know it was reversible.

Due to the fact that ACH is reversible (and slow) it is not something we are considering for purchases at this time.  We are looking to provide alternative methods to fund Bitcoin purchases.

Any plans to allow ACH for USD deposits? This was something I really liked about CampBX but that has recently been shutdown.

SEPA support will not be available initially (only PayPal and Bank Wire).  We will be adding SEPA support but that requires obtaining a SPEA area bank account (and flying to the EU) so it will come later.


2FA will be added soon.  I would point out that unlike an exchange, a compromised account is of less value to a hacker.  No financial information can be obtained from the account.  An attacker can not withdraw bitcoins because there are no bitcoins to withdraw.  An attacker can't even link a payment account to withdraw dollars unless the attacker happens to have the same name.   Using the principle of least privilege, the platform is designed to make an account of little value to an attacker.  That being said we will be added 2FA to further strengthen the privacy of users.

Well I know from short viewing this who is running the forum account. Gerald Davis

No names on the web site.

I don't buy coins from web sites. I buy them from people.

I need to know who gets whacked if something goes wrong.

Would you mind expanding on that a little? Are you going to take EU (SEPA) customers?

Also, I don't see an option for two factor authentication... I would have imagined an end-to-end security policy would have included that -- or am I just not seeing the option?

cp1,

Thank you for your interest in BitSimple.

It probably is easier to think of BitSimple as a bitcoin dealer (like a gold dealer) instead of a traditional exchange.  BitSimple, LLC is the counterparty in every trade.  If you are selling coins, we are the buyer.  If you buying coins, we are the seller.  To sell us coins you simply make a bitcoin transaction to the address we provide.  The instant it hits the network your account will be increased by the USD value of the coins you transferred to us, based on the current exchange rate.  If you are buying coins before wiring funds the site will ask for an address where we can transfer your purchase coins.  Once you notify us the funds have been wired we will lock in an exchange rate and the coins will be transferred to your address once the wire posts.

The key difference with exchanges is we never hold any user Bitcoins.  We don't offer eWallet services or require users deposit their coins before trading.  The only coins we hold are the ones owned by the company.  If we those bitcoins are lost or stolen it is our investors not our customers who lose.   Not surprisingly that has made us very motivated to prevent that from happening.

When selling bitcoins (your BTC for our USD) we offer the ability to withdraw the proceeds of your sale by ACH, Bank Wire, or PayPal.  When buying bitcoins your purchase needs to be funded by a bank wire.  We are looking into alternative funding options as we understand bank wires aren't the most convenient option for all users.  With BitSimple the price is always upfront and you can go from coins to cash or cash to coins the same day (in as little as an hour).  You keep your coins, in your wallet, and instant liquidity is still a transaction away.

Fees on buying bitcoins
Wire "Deposit" - no fee
Exchange fee - no fee
Bitcoin transfer - no fee (we cover miner fee of 0.1 mBTC for fast processing)

Fees on selling bitcoins
Bitcoin transfer - no fee (we recommend you include a miner fee of 0.1 mBTC for fast processing)
Exchange fee - no fee
Withdraw fee - varies (ACH = $0, Bank Wire = $25, PayPal = 1.9%)

BitSimple Support

Can you explain a little of how the exchange works?  If I want to buy 1 BTC do I buy it from your coins or do you match me up with someone who simultaneously wants to sell 1 BTC?  Does the seller send directly from their wallet to my wallet, or does it go through your mixed coin wallet?

Sorry about that.  That was an incorrect statement.  You should be able to create a new account now.

I tried to sign up for an account here:
https://bitsimple.com/Account/Signup

I got this message:
Wow you found us.
Sorry you are a little early.
BitSimple is not open to the public yet.

I am in the US.

BitSimple is currently open to US residents (excluding residents in CA, NY, and VA).  Access for international residents will be added in the next few days.

When will BitSimple be open to the public?