$6-60 deposit fee from your bank. Big margin there.
My bank charges me nothing to add funds to the NAB, which Mt Gox uses.
Topic: TradeHill - AUD market is now live. - page 3. (Read 9301 times)
And can funds be directly transferred back to an Australian bank account?
Yep, they can be!
We can take both deposits and withdrawals in AUD via our local Tradehill partner.
Thanks,
Adam - Tradehill
Sold!
I am based in NZ and there is an OTC bitcoinexchange.co.nz site where you could trade in NZ dollars, but not anonymously like on TH. I'm not around much in July, but I'm not sure how much demand there is for NZD trading.
As for ASIC, last time I went through the financial services licencing legislation taking deposits/money and/or trading would require authorisation. This is definitely retail/to-the-public so those things need to be done. At a minimum, the entity we are dealing with needs to quote their licence number.
As for ASIC, last time I went through the financial services licencing legislation taking deposits/money and/or trading would require authorisation. This is definitely retail/to-the-public so those things need to be done. At a minimum, the entity we are dealing with needs to quote their licence number.
Hi Patrick,
Thanks for the information and the concern. You are absolutely right: trading in this market resembles trading in other regulated markets. However, at this point, Bitcoin is not considered a security or a currency; admittedly, there is debate around this issue both on this forum and across the media. Bitcoin seems to be a whole new entity in-of-itself. At this point, regulators haven't taken a clear stance or asked for the buying or selling of BTC to cease. Other virtual currencies like the Linden dollar already exist and these can be bought or sold for national currencies. Since Tradehill doesn't offer to change currency from say - USD to AUD or from CAD to USD or any other permutation - then we are not a currency exchange. People can only buy or sell BTC using different currencies on our site and not trade one currency for the other.
FYI - Our partner DOES have an ABN number.
Thanks again for the comments. They are on point and will lead to more discussions about BTCs current and future legal status. This will be beneficial for everyone.
Regards,
Adam - Tradehill
Could you buy me dinner now? I'd at least like to have a nice meal before I get fucked.
I am based in NZ and there is an OTC bitcoinexchange.co.nz site where you could trade in NZ dollars, but not anonymously like on TH. I'm not around much in July, but I'm not sure how much demand there is for NZD trading.
As for ASIC, last time I went through the financial services licencing legislation taking deposits/money and/or trading would require authorisation. This is definitely retail/to-the-public so those things need to be done. At a minimum, the entity we are dealing with needs to quote their licence number.
As for ASIC, last time I went through the financial services licencing legislation taking deposits/money and/or trading would require authorisation. This is definitely retail/to-the-public so those things need to be done. At a minimum, the entity we are dealing with needs to quote their licence number.
Hi Patrick,
Thanks for the information and the concern. You are absolutely right: trading in this market resembles trading in other regulated markets. However, at this point, Bitcoin is not considered a security or a currency; admittedly, there is debate around this issue both on this forum and across the media. Bitcoin seems to be a whole new entity in-of-itself. At this point, regulators haven't taken a clear stance or asked for the buying or selling of BTC to cease. Other virtual currencies like the Linden dollar already exist and these can be bought or sold for national currencies. Since Tradehill doesn't offer to change currency from say - USD to AUD or from CAD to USD or any other permutation - then we are not a currency exchange. People can only buy or sell BTC using different currencies on our site and not trade one currency for the other.
FYI - Our partner DOES have an ABN number.
Thanks again for the comments. They are on point and will lead to more discussions about BTCs current and future legal status. This will be beneficial for everyone.
Regards,
Adam - Tradehill
Nice.
lets have trade hill support CAD too!
if trade hill accepts many different currencies, this will help bitcoin grow, and will allow businesses from outside of the US to accept bitcoin
keep up the good work guys
lets have trade hill support CAD too!
if trade hill accepts many different currencies, this will help bitcoin grow, and will allow businesses from outside of the US to accept bitcoin
keep up the good work guys
Well you will have an issue with the Australian Securities and Investments Commission if this operation isn't licensed by them.
... and same like my questions to CampBX - if it's not required to register in such a manner, may we please have the name/offices of the attorneys who told you it wasn't necessary (or a scan of the letter from ASIC saying you weren't in their jurisdiction would probably be cool too).
I think their Australian rep needs an ABN too.
I am based in NZ and there is an OTC bitcoinexchange.co.nz site where you could trade in NZ dollars, but not anonymously like on TH. I'm not around much in July, but I'm not sure how much demand there is for NZD trading.
As for ASIC, last time I went through the financial services licencing legislation taking deposits/money and/or trading would require authorisation. This is definitely retail/to-the-public so those things need to be done. At a minimum, the entity we are dealing with needs to quote their licence number.
As for ASIC, last time I went through the financial services licencing legislation taking deposits/money and/or trading would require authorisation. This is definitely retail/to-the-public so those things need to be done. At a minimum, the entity we are dealing with needs to quote their licence number.
Is this a legitimate operation? I'm cautious about putting my money into anything that isn't licensed by ASIC.
I use trade hill a lot and never had any issues
Referral link for 10% off comission is in sig
Well you will have an issue with the Australian Securities and Investments Commission if this operation isn't licensed by them.
If we have USD on tradehill, can we just withdraw that as AUD into out AU banks?
Do you have an NZ partner in the pipelines?
Is this a legitimate operation? I'm cautious about putting my money into anything that isn't licensed by ASIC.
I use trade hill a lot and never had any issues
Referral link for 10% off comission is in sig
Is this a legitimate operation? I'm cautious about putting my money into anything that isn't licensed by ASIC.
And can funds be directly transferred back to an Australian bank account?
Yep, they can be!
We can take both deposits and withdrawals in AUD via our local Tradehill partner.
Thanks,
Adam - Tradehill
Holy jebus the fees are high! Have you guys considered setting up a system where people can open their own accounts in those same banks, and then transferring from their account to yours for free? (or at least a very low fee, since it's just an accounting entry for the bank)
And can funds be directly transferred back to an Australian bank account?
Hmmmm, I have an account in AUD I can access - might have look and play - add some depth/liquidity.
edit: current asks are "generous", but that will change.
edit: current asks are "generous", but that will change.
Hello All,
For some additional clarity on your trading options see below.
For Australians, you no longer have to buy USD at your local bank and then do an international wire transfer to our US bank account. You can simply make a local transfer to our local bank account in AUD. Additionally, your funds will now be held as AUD and you can enter our BTC-AUD trading room and buy BTC using AUD. However, if you are still interested in buying BTC using USD, then feel free to ask your local bank to covert the the AUD to USD and send us an international wire transfer.
Further, TO EVERYONE who has BTC, you can begin selling your BTC in the BTC-AUD trading room. We expect high pricing inefficiencies until liquidity is developed; therefore, it is possible to get premiums on selling your BTC. Additionally, cross currency arbitrage opportunities will be high.
Thanks again and let us know if you have any questions, concerns, or feedback.
Regards,
Adam - Tradehil
Great news.
Where abouts is Jaden based?
Where abouts is Jaden based?
Canberra ACH
Fees to withdraw are:
.5% capped at $15AUD
Go for EUR!
What are the fees to withdraw?
Exactly what tradehill needs to grab some market share from mtgox. No easy way to get money from mtgox to Australia. Expect to see a lot of trade from aussies champing at the bit.
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