A currency exchange which operates a BTC/SGD market based in Singapore.
You specify the quantity of Bitcoins you wish to buy/sell at a price.<br\> Once you have submitted a trade, the following chain of events take place : <br\>
1. FYB will try to fill your order with other pending orders at the same or better price than you indicated.<br\> In other words if you try to buy 1BTC at $10, Fyb will try to fill your order with the lowest selling price orders up till $10.<br\> If there are sell orders below $10, you will be filled at a better rate.
2. If your entire order is filled, execution stops.<br\> If there is a partial fill(ie. only 0.8BTC could be bought at/below $10) then the remaining qty is listed as a pending order(Buy Pending Order 0.2BTC at $10)
There are no fees incurred when depositing bitcoins for deposit.<br\> Deposited coins require 6 confirmations before they are reflected in the account balance.
There are 2 supported methods for SGD Deposits<br\>
Online Bank Transfer
A screenshot should always be taken and saved to resolve any potential issues.<br\>
Anonymous Cash Deposit at any UOB ATM in Singapore
A unique account code is to be written on the deposit receipt.<br\> Depositor is then required to email a picture of the receipt to the exchange within 48hrs.
Bitcoins may be withdrawn for 0.0005BTC(Bitcoin Network fee).
There is no fee to withdraw SGD to a Singapore Bank account.
A fee of 0.6% is charged in the longed currency of any executed trade.
The exchange was launched on 3rd January 2013 to coincide with Bitcoin's 4th anniversary.
See Also on BitcoinWiki
- FYB-SG web site