The Bitcoin Market is a bitcoin currency exchange site owned and operated by dwdollar. It supports Moneybookers, Pecunix, and Liberty Reserve. Registration is open to the public. Unlike MtGox, exchanges are done directly between individual users, with Bitcoin Market escrowing the bitcoin funds. Quite often, Bitcoin Market trades at higher values than MtGox.
Use of the Market
The market is currently invitation only. Those wishing to use the market in the past would create an account.
In order to trade, one must either open a bid through my orders. Bids are made by declaring how much of a given currency you wish to buy and at what price. Bids can be accepted through the my trades page. One registers payment processors through the Accounts page. This is a necessary step for trading currency.
Trading on the site began February 6th, 2010
A major update to the site occurred in March, 2011. Among the changes were: smaller minimum trade size, 24 X 7 trading, and some steps to help ensure that payment will be made for trades that execute.
Though the site at one time was used for trading using PayPal as payment method, fraud caused the exchange to discontinue PayPal trading on June 4, 2011.
Important information can also be gained from the Bitcoin Market website homepage which shows a graph of the Bitcoin exchange rate (to US Dollars). This data is also offered in the JSON format.