Bitcoin-Central Bitcoin Exchange
Bitcoin-Central is one of the newer Bitcoin exchange sites that has stepped into the market and is more trading friendly than many of the Bitcoin exchange sites that you will find. All accounts are in euro because it's a European based exchange, making it great for anyone living in a euro country to trade here because they will not be losing anything in conversion to dollars as they usually would. Bitcoin-Central is based out of France and has been in operations since 2011, but relaunched their service in 2013 to a new and improved platform.
Bitcoin-Central has been used by many European traders for many years and has build up a good reputation for handling their business secure and their customers with respect. They have a high level of security with encryptions on your personal data and with the need to verify your account before you are able to deposit and withdraw, to avoid any money laundering. You will be able to trade Bitcoins within a matter of days when you have created and verified your account and withdrawals are very fast if you are based inside the euro zone.
You have different charts available to see the movement of the Bitcoin over a period of time, as well as being able to see the spread that you have to pay for each Bitcoin that you are trading. You can also see the latest trades made, lowest sellers and highest buyers, giving you all the information that you need to trade Bitcoins with success and security.
Funding Your Account
When you want to begin trading Bitcoins with Bitcoin-Central then you will need to fund your account with euro's in order to buy. To do so you will need to complete your profile settings, which includes your name, address, country, birth and your banking details. Once that has been done you will need to send in documents to verify the information and once that is done then you are finally able to deposit on the site.
You only have the possibility to deposit through bank transfer, which limits some users but is fine in general. To fund the account you will simply need to enter your banking details and the amount of euro's you will be sending, then Bitcoin-Central will provide you with their banking details and the reference number you have to insert when doing the transfer so they know it is you. After you have processed the deposit from your end, then it will take 1-5 business days before the money will appear on your Bitcoin-Central account.
Withdrawing Your Funds
To withdraw your funds you will have the option of getting them to your banking account. If you have already made a deposit and verified your account then, then you will not need to do it again. However if you have not made a deposit before, you will need to verify your account with your personal documents before any withdrawals will be processed. You will need to send in the documents and within 24 hours Bitcoin-Central will verify your account at make it possible for you to withdraw.
To make a withdrawal you will need to submit your bank account details and the amount of euro's that you want to withdraw and submit it. The money will then be send to your account within a weeks time and in some cases a little longer if there are many withdrawals at the same time.
When you want to buy Bitcoins through Bitcoin-Central you need to go to the trade menu and press the buy Bitcoins button. There you will be asked to enter the price in euro's that you want to pay for a Bitcoin and the amount of Bitcoins that you want to buy. Your order will then be placed on the trading market and potential sellers can see your order.
Once a seller that accepts your terms has been found then you will receive the Bitcoins in your account, while the seller will receive the money you had to pay for them in his account. Since you are buying through an exchange site there is no risks in doing this, as the seller will need to have the Bitcoins in the Bitcoin-Central wallet to sell them.
Selling Bitcoins works the exact same way as when you want to buy them. You simply enter the price in euro's that you want to get for your Bitcoins and the total amount of coins that you will be selling. The order will then be placed on the trading market and potential buyers can take a look and see if the order is something for them or not.
Once a buyer has been found you will receive the amount of euro's the deal is worth in your account, while the buyer will receive your Bitcoins in his account. It is that simple and it can take down to only a few minutes to do these trades, making it a fast and easy place to trade Bitcoins.
Bitcoin-Central also has a wallet service integrated in their trading platform as buyers and sellers will need to hold their coins there in order to exchange them with each other. If you need to receive Bitcoins in your Bitcoin-Central wallet you need to go to the fund your Bitcoin account menu and get your unique Bitcoin wallet address from there. Give that address to the sender and you will receive your Bitcoins within one hour from when they have send them.
To transfer Bitcoins to another wallet, gambling site or to a merchant can be done by choosing the withdraw Bitcoins menu. Here you will be asked to enter the unique wallet address of the receiver as well as the amount of coins you need to send.
Bitcoin-Central does not charge any fee percentage, but instead charges a spread which is the difference between the buying and selling price. The spread will commonly be around €5 for 1 Bitcoin, so it is not a big fee in any way.