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XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE. singapore
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Author Topic: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.  (Read 7144 times)

coinomat

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XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« on: September 09, 2014, 10:41:16 am »

Initial post was moved to AE section but I was allowed to repost, I copy Bitcointalk topic

We launched USD-tied asset on NXT Asset Exchange, which can also be traded at Poloniex.com for BTC/NXT/XMR

NXT AE link: http://nxtreporting.com/?as=12982485703607823902

Poloniex XUSD markets:
https://poloniex.com/exchange/xusd_btc
https://poloniex.com/exchange/xusd_nxt
https://poloniex.com/exchange/xusd_xmr

  • What is CoinoUSD?
    CoinoUSD (ticker XUSD) is an asset tied to USD, it can be called USD on NXT blockchain. Deposit and withdrawal to/from CoinoUSD are carried out at Coinomat.com for a range of e-currencies. It can also be withdrawn to any VISA/MASTER card.
  • How can I use CoinoUSD?
    - You can trade it against NXT on NXT AE
    - You can trade it against BTC/NXT/XMR at Poloniex.com
    - You can withdraw it at Coinomat.com to your bank card, or to several e-currencies (PerfectMoney, Egopay, Okpay).
    - You can buy it at Coinomat.com and deposit it to Poloniex, and then buy some BTC for example.
    Probably the most widespread usage would be withdrawing your BTC/NXT/XMR funds at Poloniex or NXT directly to your Visa/Master card.
  • Who are you?
    We are an instant cryptocurrency exchange Coinomat.com, our asset Coinomat is traded at NXT AE and Poloniex (CNMT). Coinmarketcap.com listing: http://coinmarketcap.com/currencies/coinomat/
  • How is this different from Bitshares BitUSD?
    BitUSD is related to USD through so-called market peg, dynamical market procedure. On the contrary CoinoUSD exchange rate to USD is fixed at coinomat.com, we sell it with zero (or close to zero) margin and buy it back with a small margin of around 2%.

Our ultimate goal is to provide USD transfer medium on blockchain, thus allowing fiat deposits to exchanges which don't have them, and the ability to transfer USD on blockchain in general. We are working on new ways to deposit and withdraw through fiat (bank transfers, credit cards, custom debit cards for withdrawals), to be implemented in September-October 2014.
« Last Edit: September 10, 2014, 06:59:18 pm by farl4bit, Reason: Deleted missing image »
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ThomasVeil

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #1 on: September 10, 2014, 01:14:03 pm »

I tried recently to cash out a bit NXT > EUR, and it's a little nightmare.
So having an easy option would be nice - though I don't quite follow what you offer here (so far all options seem very complicated).

Basically - I have have to get an account at Poloniex. Then I have to sell the NXT for your XUSD.... the offers for that are from other users I assume?
Then I take that and go to Coinomat (I have to transfer them there?)... and then I have to use your withdraw options to EUR?
...I don't know any of the options you list. I tried to look into Egopay, but their website is fully unclear if I am able at all to get EUR onto a bank account in any form.
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cc001

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #2 on: September 10, 2014, 01:33:49 pm »

I tried recently to cash out a bit NXT > EUR, and it's a little nightmare.
So having an easy option would be nice - though I don't quite follow what you offer here (so far all options seem very complicated).

Basically - I have have to get an account at Poloniex. Then I have to sell the NXT for your XUSD.... the offers for that are from other users I assume?
Then I take that and go to Coinomat (I have to transfer them there?)... and then I have to use your withdraw options to EUR?
...I don't know any of the options you list. I tried to look into Egopay, but their website is fully unclear if I am able at all to get EUR onto a bank account in any form.

You should try ccedk.com, they have a NXT/EUR market, it works very good and customer support here in the forum is great!
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ThomasVeil

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #3 on: September 10, 2014, 01:46:10 pm »

I tried recently to cash out a bit NXT > EUR, and it's a little nightmare.

You should try ccedk.com, they have a NXT/EUR market, it works very good and customer support here in the forum is great!

I checked the page, but the price is quite horrible. I'm always scared my math is off - but for all I see - the offer of 0.27Euro means they pay 0.00007 NXT/BTC versus the current 0.000079 rate. So a 12% loss - then it's still worth to jump though the hoops of converting through several exchanges via BTC. Even with all the work and fees.
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sv3n

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #4 on: September 10, 2014, 01:51:08 pm »

MGW has a good bitcoin rate, very little hassle once you have it set up with damn near zero fees. After that, you can use whatever exchange you like for your BTC. That's my usual route, but I'm partial to the gateway :P
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cc001

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #5 on: September 10, 2014, 01:56:49 pm »

MGW has a good bitcoin rate, very little hassle once you have it set up with damn near zero fees. After that, you can use whatever exchange you like for your BTC. That's my usual route, but I'm partial to the gateway :P

yep, mgw rocks!
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cc001

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #6 on: September 10, 2014, 02:00:14 pm »

I checked the page, but the price is quite horrible. I'm always scared my math is off - but for all I see - the offer of 0.27Euro means they pay 0.00007 NXT/BTC versus the current 0.000079 rate. So a 12% loss - then it's still worth to jump though the hoops of converting through several exchanges via BTC. Even with all the work and fees.

depends on the exchanges and how valuable your time/work is. If you include all trading and withdrawal fees for nxt->btc->usd->eur, I'm pretty sure that the difference is only a few % at max...

btw: there is a very good offer for 0.0251 at ccedk.com ;)
« Last Edit: September 10, 2014, 02:02:29 pm by cc001 »
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valarmg

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #7 on: September 10, 2014, 02:07:46 pm »

I tried recently to cash out a bit NXT > EUR, and it's a little nightmare.
So having an easy option would be nice - though I don't quite follow what you offer here (so far all options seem very complicated).

Basically - I have have to get an account at Poloniex. Then I have to sell the NXT for your XUSD.... the offers for that are from other users I assume?
Then I take that and go to Coinomat (I have to transfer them there?)... and then I have to use your withdraw options to EUR?
...I don't know any of the options you list. I tried to look into Egopay, but their website is fully unclear if I am able at all to get EUR onto a bank account in any form.

You shouldn't need an account on Poloniex. CoinoUSD is an asset available on the NxtAE. Not sure exactly how the withdrawal options work from having CoinoUSD though.
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ThomasVeil

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #8 on: September 10, 2014, 02:14:54 pm »

I checked the page, but the price is quite horrible. I'm always scared my math is off - but for all I see - the offer of 0.27Euro means they pay 0.00007 NXT/BTC versus the current 0.000079 rate. So a 12% loss - then it's still worth to jump though the hoops of converting through several exchanges via BTC. Even with all the work and fees.

depends on the exchanges and how valuable your time/work is. If you include all trading and withdrawal fees for nxt->btc->usd->eur, I'm pretty sure that the difference is only a few % at max...

btw: there is a very good offer for 0.0251 at ccedk.com ;)

So to compare 0.0251 to the current NXT/BTC rate I calculate: 0.0251 * 1.22($/EUR) / 470($/BTC) = 0.000065 - which is a whopping 21% less than the rate. No way are fees gonna eat that up.

MGW is a good option. The spread is actually getting better there. Least hassle for sure.
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cc001

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #9 on: September 10, 2014, 02:18:12 pm »

So to compare 0.0251 to the current NXT/BTC rate I calculate: 0.0251 * 1.22($/EUR) / 470($/BTC) = 0.000065 - which is a whopping 21% less than the rate. No way are fees gonna eat that up.

hehe, jep, I know, it is my offer, its +21% for me... ;)
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coinomat

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #10 on: September 10, 2014, 02:41:42 pm »

Actually it's not complicated at all - you can send it directly to your bank card! Also we're working on bank transfer withdrawals
I tried recently to cash out a bit NXT > EUR, and it's a little nightmare.
So having an easy option would be nice - though I don't quite follow what you offer here (so far all options seem very complicated).

Basically - I have have to get an account at Poloniex. Then I have to sell the NXT for your XUSD.... the offers for that are from other users I assume?
Then I take that and go to Coinomat (I have to transfer them there?)... and then I have to use your withdraw options to EUR?
...I don't know any of the options you list. I tried to look into Egopay, but their website is fully unclear if I am able at all to get EUR onto a bank account in any form.
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Abraxas 147

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #11 on: September 10, 2014, 02:42:45 pm »

Quote
I tried recently to cash out a bit NXT > EUR, and it's a little nightmare.

I tried NXT -> BTC -> EUR with kraken.com. Works fine. kraken.com has BTC/EUR market and sepa transfer. When using MGW this is a relatively short way  :)
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coinomat

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #12 on: September 10, 2014, 02:52:23 pm »

Send it directly to your bank card through us. No exchanges to BTC,  the whole procedure takes 5 minutes to initiate. Transfer takes 2-3 business days.
Quote
I tried recently to cash out a bit NXT > EUR, and it's a little nightmare.

I tried NXT -> BTC -> EUR with kraken.com. Works fine. kraken.com has BTC/EUR market and sepa transfer. When using MGW this is a relatively short way  :)
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valarmg

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #13 on: September 10, 2014, 02:55:27 pm »

Send it directly to your bank card through us. No exchanges to BTC,  the whole procedure takes 5 minutes to initiate. Transfer takes 2-3 business days.

Very unclear from your website how to do this. If I have CoinoUSD in my Nxt account and I want it in my bank account, I would...?
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Abraxas 147

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #14 on: September 10, 2014, 02:59:25 pm »

Quote
Send it directly to your bank card through us. No exchanges to BTC,  the whole procedure takes 5 minutes to initiate. Transfer takes 2-3 business days.
Quote from: Abraxas 147 on Today at 02:42:45 pm

    Quote

        I tried recently to cash out a bit NXT > EUR, and it's a little nightmare.


    I tried NXT -> BTC -> EUR with kraken.com. Works fine. kraken.com has BTC/EUR market and sepa transfer. When using MGW this is a relatively short way  :)

Also withdraw to EUR possible this way? Would be great :-).
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prometheus

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #15 on: September 10, 2014, 04:38:27 pm »

so essentially, I'll be able to go from NXT  wallet -> coinomat -> bank rather than NXT -> exchange -> coinbase -> bank

any plans for implementing coinomat into NXT UI? this would be very attractive to users! NXT wallet -> bank. that would be nice
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coinomat

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #16 on: September 10, 2014, 05:18:15 pm »

Please clarify, maybe I don't get something, looks very simple to me - you choose at the form at the home page CoinoUSD->Bank card, and proceed to payment. Along the way you'll have to register user acc to store credit card data. I thought that we made it to be as simple as possible :(
Send it directly to your bank card through us. No exchanges to BTC,  the whole procedure takes 5 minutes to initiate. Transfer takes 2-3 business days.

Very unclear from your website how to do this. If I have CoinoUSD in my Nxt account and I want it in my bank account, I would...?
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valarmg

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #17 on: September 10, 2014, 08:18:22 pm »

Please clarify, maybe I don't get something, looks very simple to me - you choose at the form at the home page CoinoUSD->Bank card, and proceed to payment. Along the way you'll have to register user acc to store credit card data. I thought that we made it to be as simple as possible :(

Could be just me.
If I go to coinomat.com, then click on CoinoUSD, it mentions 5 things about CoinoUSD but it doesn't seem to link to a page where you can withdraw it.
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coinomat

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #18 on: September 10, 2014, 08:40:08 pm »

I got you,  you might be right. This is a promo page which turns out to be quite useless. We'll fix it
Please clarify, maybe I don't get something, looks very simple to me - you choose at the form at the home page CoinoUSD->Bank card, and proceed to payment. Along the way you'll have to register user acc to store credit card data. I thought that we made it to be as simple as possible :(

Could be just me.
If I go to coinomat.com, then click on CoinoUSD, it mentions 5 things about CoinoUSD but it doesn't seem to link to a page where you can withdraw it.
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coinomat

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Re: XUSD markets at Poloniex.com, CoinoUSD markets on NXT AE.
« Reply #19 on: September 15, 2014, 07:41:03 pm »

There was a CoinoUSD giveaway at Poloniex today, but it went out really in minutes, I didn't even have time to post here. We'll repeat it tomorrow probably.
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