Topic: Question to BitInstant (Read 1753 times)
What's the problem with bitinstant? The fee stays at 3.99% no matter which country or payment options I choose.
Hey Bitinstant - please roll out service to Canada 
+1
Indeed, since a lot of Canadian banks bought up failing US banks, they've enabled easy cross border transfers so your business bank in Canada can send funds to the American counterpart account with a click of a button, no ACH or wires. TD does this, so does Scotiabank. Pretty sure HSBC has a scheme like this too (no ACH waiting, just click button, funds appear instantly)
Hey Bitinstant - please roll out service to Canada
+1
I see that Moneygram is available also here in Italy.
Do you know if it's already working? Do you want that I make a test?
I'm going to send EURO, can this be a problem?
Do you know if it's already working? Do you want that I make a test?
I'm going to send EURO, can this be a problem?
BitInstant,
1- On paycard, how my bitcoins will be traded to dollar?
2- Will Bitinstant have accounts on "all" Exchanges? How I'll be sure that my bitcoins will be traded by the best value?
3- Will BitInstant have any tool to automatically scan "all" exchanges to see the best bid values including the fees charged by the exchanges, when the user be converting the coins to dollar.
1- On paycard, how my bitcoins will be traded to dollar?
2- Will Bitinstant have accounts on "all" Exchanges? How I'll be sure that my bitcoins will be traded by the best value?
3- Will BitInstant have any tool to automatically scan "all" exchanges to see the best bid values including the fees charged by the exchanges, when the user be converting the coins to dollar.
We will be releasing more details as we have them on www.blog.bitinstant.com
As Stephen so nicely pointed out
the most recent info can be found here http://codinginmysleep.com/bitcoin-mastercard-followup-interview-with-charlie-shrem/ Stay tuned!
1- On paycard, how my bitcoins will be traded to dollar?
There was a followup article where this was discussed:
2- Will Bitinstant have accounts on "all" Exchanges? How I'll be sure that my bitcoins will be traded by the best value?
3- Will BitInstant have any tool to automatically scan "all" exchanges to see the best bid values including the fees charged by the exchanges, when the user be converting the coins to dollar.
3- Will BitInstant have any tool to automatically scan "all" exchanges to see the best bid values including the fees charged by the exchanges, when the user be converting the coins to dollar.
I have no idea how BitInstant will come up with the exchange rate that will be used before subtracting the 1.5% fee (or whatever ends up being the rate). One problem is that the quantity is a factor that will affect that rate due to slippage.
Because BitInstant will likely be immediately entering trades for the coins received, it is unlikely they will simply be able to route orders to the "best bid" and instead will need to trade where there is both liquidity and the ability to move those fiat funds to wherever the debit card reserves are held.
With the international card though, if the debit card balance is for a currency other than USD (e.g., EUR) then it might be interesting though where the coins might be traded on BTC/EUR markets instead of through BTC/USD ones.
Here's a thread on the Paycard with BitInstant's comments:
- https://bitcointalksearch.org/topic/bitinstant-paycard-101838
BitInstant,
1- On paycard, how my bitcoins will be traded to dollar?
2- Will Bitinstant have accounts on "all" Exchanges? How I'll be sure that my bitcoins will be traded by the best value?
3- Will BitInstant have any tool to automatically scan "all" exchanges to see the best bid values including the fees charged by the exchanges, when the user be converting the coins to dollar.
1- On paycard, how my bitcoins will be traded to dollar?
2- Will Bitinstant have accounts on "all" Exchanges? How I'll be sure that my bitcoins will be traded by the best value?
3- Will BitInstant have any tool to automatically scan "all" exchanges to see the best bid values including the fees charged by the exchanges, when the user be converting the coins to dollar.
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