Silk Road forums
Discussion => Security => Topic started by: fillout on April 15, 2012, 10:34 am
-
Hello,
I am thinking of hedging against BTC volatility by buying some E-Currency like Pecunix, Perfect Money or LR but after my research i'm surprised by how expensive it is to buy. My question is if there is any cheap way of converting BTC to other gold backed E-currency?
I checked out aurumxchange and on 5000 dollars they charge 325 dollars just to exchange to Pecunix or PM, LR which is absurd in my eyes.
Or are these prices normal if somebody want to buy some e-currency?
Thanks. gr
-
Have you looked at https://wm-center.com/rates.php?type=exch ?
Pecunix USD
LibertyReserve USD - 6% 5 USD
LibertyReserve EURO - 6% 5 USD
C-gold USD + 1% 0 USD
Global Digital Pay USD + 10% 0 USD
Global Digital Pay EURO - 1% 5 USD
HooPay USD - 7% 5 USD
PayPal USD - 8% 5 USD
Perfect Money USD - 10% 5 USD
Perfect Money EURO - 10% 5 USD
PayPal EURO - 8% 5 USD
Bitcoin - 0% 0 USD
Bitcoin
LibertyReserve USD - 1% 5 USD
LibertyReserve EURO - 1% 5 USD
Pecunix USD - 1% 5 USD
C-gold USD + 0% 0 USD
Global Digital Pay USD + 10% 0 USD
Global Digital Pay EURO - 0% 5 USD
HooPay USD - 0% 5 USD
PayPal USD - 2% 5 USD
Perfect Money USD - 5% 5 USD
Perfect Money EURO - 5% 5 USD
PayPal EURO - 2% 5 USD
Looks like it's 0% if you want Bitcoin and have Pecunix. And it's 1% ($5 min) if you got BTC and want Pecunix.
So $5000 USD worth of BTC would buy you $4950 worth of Pecunix.
-
Yeah i saw that yesterday and thought i was to good to be true. Turns out it was.
Quoted from site:
We sell Bitcoin - $4.9; We buy Bitcoin - $3.5;
So basically they only give you 3.5$ per BTC.
Still really expensive...
-
Um.. I will have to look into it further. My impression was that the $4.90 to buy BTC and $3.5 to sell BTC were BTC to USD exchange rates.. not BTC to Pecunix or Pecunix to BTC.
I can't imagine why they would quote a BTC --> USD --> to Pecunix rate. It's a currency to currency exchange, no need for an intermediary. Perhaps you should investigate further with them directly.
I will certainly do so once time permits and my BTC balance requires it, since my business plan uses BTC as a unit of account and takes profits as Pecunix or bullion.
-
No it's really like that. If you fill in sell 100 BTC you get 345 dollars of pecunix back. So it's one big rip off. Why is it so expensive to buy these currencies? And there must be a cheaper way then buying 10% which is a shitload?
gr
-
Hmmm.. time to do some investigating then. Looks like you are right. No way I'm paying that :D I will update you if I find a solid solution.