Urdubit was created to help people in Pakistan easily trade their Bitcoins. When we got into bitcoins we saw that exchangers were over charging to their likings. We wanted to bring fair trade to the masses in our beloved country. Urdubit was setup with a community type setup where we believe interaction with our clients is a must. As such we are very active with all our users and believe in teaching what we have learned with our experience.
Urdubit uses Blinktrades matching engine with 35 milliseconds order ACK time. Built with the same architecture of the NYSE.
No REST, no HTTP, no Workarounds that open security breaches. Just a simple websockets API based on the FixProtocol.
Just like Bitcoin. 100% open source, no anonymous/hidden orders that just open doors to market manipulation.
The idea behind Urdubit is to build a community of Traders, freelancers, investors and entrepreneurs. Through which everyone builds of each other to move forward while benefiting from the power of bitcoin. With the current situation in Pakistan and the ease of which bitcoin can be transferred it can help us by pass the barriers of the current system. In turn we believe that everyone has the right to sell their bitcoins at prices they please and purchase at decent rates. Currently the only way was to use expensive exchangers who would convert to dollar then to pkr after taking their cuts. We put out a solution where you eliminate the middle man and can securely trade on our platform with only 0.75% trade fee. We have already integrated 2 more exchanges, Surbitcoin, Venezuela and Foxbit, Brazil into Urdubit. This will help bring liquidity and make remittances and trade a breeze from the said countries.
We believe in being self-regulated and follow certain customer identification procedure for opening of accounts. We are committed to ensure that our website or services are not used to facilitate money laundering or the funding of terrorism or any other criminal activities. To fulfill this goal, we have designed our own know-your-customer/KYC and anti-money laundering/AML information acquiring system to safeguard our customers and ensure continuous, clean barter.
As a part of identification procedure, we need to obtain certain customer identification documents including a copy of NIC and proof of residence from every customer. These processes make us know who are paying us money and whom we are sending money, without which our website and services can be used for money laundering and other illicit purposes.