Author Topic: BitUSD and BitEUR is integrated in Coinomat.com platform  (Read 5257 times)

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Offline Riverhead


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Hello, sorry we did have some bug with incoming transfers which did not show up during testing. Now it is fixed. Your deposit is credited.
The interest is fixed, won't change in near future.

I sent in some bitUSD using the information provided on the site (coinomat, T-22920...). How long does it usually take to show up? I want to try out sending it to my CC :).

Also, for balances over 10 USD you pay 0.06%/day. That works out to be about 22%/year if my math is correct. Compounded it's about 24.5%/year. Is this a fixed rate or does it go up and down with volume?
« Last Edit: June 28, 2015, 04:59:42 pm by cass »

Offline Riverhead


I sent in some bitUSD using the information provided on the site (coinomat, T-22920...). How long does it usually take to show up? I want to try out sending it to my CC :).

Also, for balances over 10 USD you pay 0.06%/day. That works out to be about 22%/year if my math is correct. Compounded it's about 24.5%/year. Is this a fixed rate or does it go up and down with volume?



Offline coinomat

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Pls more action guys
What you can do now with Bitshares and Coinomat you can't do with any other service
Also you can transfer fiat between BTS and NXT blockchains with us, choose CoinoUSD exchanges

Offline cass

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So can I pay with my credit card in eur and get biteur with this?

What info is necessary to provide to coinomat?
You can withdraw to your credit card for now.
We will have credit card processing which will allow you to buy crypto a little later

sounds promising
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Offline coinomat

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So can I pay with my credit card in eur and get biteur with this?

What info is necessary to provide to coinomat?
You can withdraw to your credit card for now.
We will have credit card processing which will allow you to buy crypto a little later

Offline coinomat

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Yes sure, all orders are mirrored at exchanges, to hedge volatility.
How are you doing this exactly?

I am still waiting for the answer...
If it is not clear - do you buy bitUSD and then offer it for sell? or Do you use some exchange (which one?) to buy at the time someone places a buy/sell bitUSD order?

Offline karnal

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So can I pay with my credit card in eur and get biteur with this?

What info is necessary to provide to coinomat?

Offline tonyk

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How are you doing this exactly?

I am still waiting for the answer...
If it is not clear - do you buy bitUSD and then offer it for sell? or Do you use some exchange (which one?) to buy at the time someone places a buy/sell bitUSD order?

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Riverhead


I don't consider 3% a low fee though. That is more than even my bank credit card will charge for a fiat conversion charged to my credit card. Nonetheless, it's one more way to get crypto into the real world.. so lets go.

I consider it quite low when compared with to cost and hassle of other options of going from bitUSD to spendable USD.

bitUSD->BTC->Coinbase/bitPay/Whatever->Bank.

Offline BunkerChainLabs-DataSecurityNode

How are you doing this exactly? What is the spread? do you "trade" in the BitShares DEX?

From what I've seen the spread from bitUSD -> Visa/Mastercard is 3% + $5 fee. The fee to go from wired USD to bitUSD is $0 with 0% spread.

They do have a bitUSD account on the Bitshares blockchain so bitUSD can be sent directly.

 Please, send BitUSD to account coinomatcom
 Set transaction comment to: T-22920-dee9

Their business is mostly centered around NXT but I love the branching out to work with new technologies.

The CCEDK relationship introduced by the core team is great, and needs our support, however I believe that Coinomat is deserving of our support as well. It was a community effort to get us integrated into their service. Having more than one fiat gateway is essential.

Thanks for looking into it... I agree.. the more choices we have the better the market will be.

I don't consider 3% a low fee though. That is more than even my bank credit card will charge for a fiat conversion charged to my credit card. Nonetheless, it's one more way to get crypto into the real world.. so lets go.
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Offline Riverhead

How are you doing this exactly? What is the spread? do you "trade" in the BitShares DEX?

From what I've seen the spread from bitUSD -> Visa/Mastercard is 3% + $5 fee. The fee to go from wired USD to bitUSD is $0 with 0% spread.

They do have a bitUSD account on the Bitshares blockchain so bitUSD can be sent directly.

 Please, send BitUSD to account coinomatcom
 Set transaction comment to: T-22920-dee9

Their business is mostly centered around NXT but I love the branching out to work with new technologies.

The CCEDK relationship introduced by the core team is great, and needs our support, however I believe that Coinomat is deserving of our support as well. It was a community effort to get us integrated into their service. Having more than one fiat gateway is essential.

Offline Riverhead

Bitshares was the winner of May voting for new coins at Coinomat.com. Now BitUSD and BitEUR exchanges are live, you're welcome to transfer  your Bit assets to/from your bank account, your Visa/Master card, also we offer a custom debit card.  We exchange BitUSD and BitEUR to all fiat crypto and e-currencies on our platform.
http://coinomat.com

Thanks for posting! Checking this out now.

Offline coinomat

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Offline fav

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Not seeing much traffic yet, don't you guys need Bitshares to fiat transfers? :)

https://www.ccedk.com/nanocard  ;D
is it already live?

no. and it won't start with bitusd/eur at first, only bitcoin.