Mt. Gox has been the main Bitcoin exchange since it opened, but there’s long been a second tier of exchanges that provide alternatives for those unsatisfied with it.
Many of these alternative exchanges have been having significant problems in the last few weeks. Bitcoin-24 had it’s bank account closed by Polish authorities. Bitfloor had it’s US bank account closed. Bitstamp was unreachable for long periods of time during the exchange price crash that happened recently. Even Coinlab’s take-over of Mt. Gox’s US-based trading seems to be behind schedule.
All of these problems may finally allow another Bitcoin exchange, CampBX, a chance to shine. Founded back in 2011 by Keyur Mithawala, it’s never reached the scale of some other exchanges. But users dissatisfied by the other exchanges and looking for a new home for their money may find it has a lot to offer.
CampBX has always placed a very strong emphasis on security. It's automatically audited daily by McAfee, offers Google Authenticator for two-factor authentication, and only uses dedicated servers in a secure data center in Arizona.
Based in Alpharetta, Georgia, USA, CampBX is subject to US laws and regulations, which is a big plus for people who are worried about what will happen to their money if the exchange they’re using is shut down. With the closing of Bitfloor, CampBX is the last US-based exchange.
The site’s interface is clean, and CampBX didn’t suffer the same amount of lag as other exchanges did during the recent sell-off. It also offers some advanced trading options, including margin buying and short selling, as well as dark pool orders.
Unverified accounts can transfer up to $1,000 in and out per day and have a maximum account size of $9,000. Verified accounts get higher limits, but you’ll have to provide a copy of your government-issued ID and a scanned-copy of proof of address, such as a utility bill.
Unverified accounts can be funded via Money Order (USPS or Canada Post only) which can take between 4 - 10 days to be received and processed, or via Dwolla. Verified accounts can, additionally, make direct deposits to a Capitol One 360 bank account or send a personal check.
With a strong focus on security, US location, and easy account funding options, CampBX has a lot going for it. But it remains to be seen if it can scale to keep up with demand. It’s also very US-focused, and using CampBX would probably be painful for Bitcoin users elsewhere (though CampBX says that expanding account funding options is a priority).
