Buying/selling crypto currencies

I'm converting between fiat and crypto currencies domestically in the Norwegian market:


New regulations

From 2018-10-15 there will be new regulations in Norway, any "exchange service" need to be registered with the government and has to follow other regulations to prevent money-laundring, including ID-check, either person-to-person or through BankID, asking customers questions on where the money comes from and where they are going to, storing personal data on the customers for a longer term, and reporting any "suspiciuos" activity to the police. At one hand I'm glad we're finally getting some regulations. I'm of course against crimes, including terrorism, but I'm also for privacy, hence I don't like the new regulations. For me, the regulation also seems fairly complex. this has always been a hobby, I have no intentions to give up my day job and start full time with crypto exchange. With my current volume, I consider it obvious that the only proper thing to do would be to establish a company and officially run an "exchange service". I doubt I have the capacity to go that route, meaning I will most likely stop trading - or at least restrict it to buying crypto after getting salary and selling crypto when I need to pay bills.

Although the bulk of my volume has been on bank trades during the last few years, I've always considered cash to be my niche. I doubt anyone can do banking trades better than Sturle. Now there is also MiraiEx., and BitGate is in beta now. Since physical exchange of cash is compatible with the regulation on ID-check, it may be that I will continue with this niche.

New fee structure

I've been using a symmetric 2.5% commission now for a longer while, but I'm doing some changes now:


(Work in progress; still some currencies missing here)
I want to
Base amount:
Please be aware that this is a non-binding quote;
  1. This was my first serious attempt on writing some javascript so there may be bugs in the calculation.
  2. The rates fluctuates all the time; unless we have an explicit appointment it's the price quote when the trade is finalized that counts.
  3. I may not have enough crypto/fiat available to fullfil the trade.
Be aware that there is no "official" market rate for those crypto currencies. Sometimes you may experience that you get too little, other times you may experience that you get too much:
  1. The last "sell"-price on an individual exchange may jump up and down due to the spread, and there may sometimes be significant deviations in the market on two different exchanges (for instance, Bitstamp is typically cheaper than other exchanges due to stringent KYC-routines on people buying bitcoins from Bitstamp). My rates are based on the average of highest bid and lowest offer on Bitstamp and Kraken. I will probably add gdax in the near-term future, plus fix the algorithm so that one exchange can go haywire without affecting the rate that much.
  2. The EUR markets and USD markets are not always in sync, often the USD markets are cheaper than the EUR markets. I'm intending to add some weighting, the EUR-markets are more relevant for us, as it's a lot less friction on EUR bank transfers within SEPA than bank transfers with USD target currency.
  3. There does not exist any exact live and public currency rates either; the rates may vary with several percent when asking different sources. As most currency markets are closed down during the weekends, the uncertainity grows significantly during the weekends.
  4. The Norwegian market is not always in sync with the international markets. There doesn't exist much reliable market information here as most of the trades are done OTC. It seems to me that the Norwegian market prices generally are above the international rate, sometimes as much as 3%. (that's one of the reasons why my sales commission may be relatively high). The Norwegian market also seems to be dominated by people actively trying to "buy the dips" and "sell on top", there tends to be seller markets every time the rate has gone down significantly.
If you for various reasons don't trust my rates, we may appoint to use some other rate, but that has to be appointed good time in advance. I'll soon find myself drained for money if you choose the most favorable "market rate" you can find on the time of trade.

Initialize a trade

I'm considering automating quite much stuff here ... but as for now, this is rather manual. You can get in touch with me through email, phone +47-91700050, tobixen at IRC, Telegram, Toshi and Wickr.

Current commissions

Check eventually. For gold transactions, the coins are considered to be worth as much as the current sales price at

Current rates

The rates are available here: For XAU, check sales price for Canadian Maple Leaf coins on For XMR, ZEC, XRP and LTC ... currently I'm using the coinmarketcap USD rate multiplied with the USD rate above.

Job offers

I estimate it's three hours of work totally, and I will pay 0.1 ETH for getting this done.

Next, a small API server storing inputs into a database, and javascript posting the form inputs to the API, preferably in JSON format.