Hello,
Just used BitInstant for the first time. Everything worked out nice and quickly. Unfortunately, in the half hour it took me to run to the store for the money gram, the price of BTC went up a bit. When all was said and done, I ended up with ~0.978 instead of 1.0 BTC. I guess there is no way to make up that difference? I'd hate to do another full order + fees + trip to the store just for that tiny amount.
Thanks.
Your price is not locked in when you create a quote. Regardless, if you think you have an issue that needs correction then it should go to support.bitinstant.com
What do you mean it's not locked?
Do you mean if we created a quote when 5 BTC equaled 500 USD...if it took 1 day for you to process and the price per BTC drops to 75...then we will get 375USD (before fees)?
Our system has a hard deadline of 24 hours, past which customers are entitled to fee refunds and compensation for price changes. The soft deadline (which is what we aim to deliver the majority of orders in) is 1 hour, and between those 2 timeframes we don't make a formal commitment to prices other than market rate as determined by our partners at coinapult.
You do realize that this is not directly implied on your website?
That is one hell of a bombshell to drop on people.
So basically, we don't actually know what rate we are getting until after we get it....?
Everything about the BitInstant website leads a person to believe they are going to get a fixed transaction (1 BTC for a certain amount of USD) as soon as finalized or as soon as it is paid in full. You'd better make it more obvious that prices are honored when executed rather than when paid. (huge variance right there)
Anyway:
Order: df07ed15-e31f-48be-9d0f-da85a3a59c58
There was some hickups with my order getting processed. Apparently customer service alerted me that the blockchain took its sweet time to confirm my payment. Even though I made the payment a few seconds after receiving the BitInstant address several days ago. You can check the timestamp to confirm when the transfer was made.
My order is still in limbo and I am definitely invoking the 24 hours clause. (fee free)
This is all covered in our terms of service. Sorry for the delay on your order. We are working on a solution. Thanks.