Buying BTC
 

I know I know, not another BTC Thread, but there seems to be a lot of good info on here.

Okay so I'm new to this whole BTC/LTC deal. This is a total newb question in the grand scheme of things but I am looking to purchase some BTC off Mt. Gox. I made an account and its asking me which processor to use for payment. Does anyone have any suggestions for which processor/processing method to use?(Dirty F. Where are you!?). Looking forward to getting my feet wet. Thanks in advance GFYers!

When i loaded via wire transfer, the wire arrived the same day at thier bank but it took another 5 days for them to credit my account...

Now im trying to cash out and i've waited for 3 days so far for them to "validate" my bank account.

The quickest way to fund is using BitInstant.

We have used all 4 methods they offer and BitInstant (via one of our local MoneyGram places) had funds in the account within 30 minutes.

Awesome, thank you very much!

Oh a word of caution... BitInstant will deposit funds as BTC so make sure you do it right when the price is starting to drop to get the most bang for your buck.

Learnt that lesson the hard way LOL

Id also try getting an account verified over at BTC-E, that way, you can fund the BTC-E account and take advantage of their delayed prices on BTC then when the price on MTGOX is satisfactorily higher (around 10-15%) transfer your existing bitcoins over to MTGOX... Even with the transfer fee you should make a decent amount of extra $$

No probs, they have a $500 limit per transfer and a $2000 daily transfer limit, so you'll have to do 4 $500 transfers if you want to fund upto your daily maximum amount, takes a while for the MoneyGram idiot to input it but it is definitely worth the time spent.

We funded yesterday at about $90/BTC and sold last night for just under $128/BTC so made a nice profit on that $2k for next to no work on our part except putting a sell order in at MTGOX which got fulfilled overnight :)

This is super good to know! Quoting it so I can find it easy again. :)

I would not recommend bitinstant.... They screwed me over. I transferred $180 when the price of bitcoin was ~$180. Their system is currently broken and there's a 1+ week backlog of transactions. By the time they processed my order it went through at $255, just moments before the crash. By the time the bitcoins were confirmed in my exchange account it was already down to $160. So what should have been ~1 bitcoin that I would recieve, I got 0.67 bitcoins, then immediately lost 25% of that .67 value.

We funded via them yesterday and had no issues, within 30 minutes funds were in our accounts and ready to use :2 cents:

Great feedback in here, thank you again. Any other suggestions!?

I just use Dwolla to fund my Mt. Gox account...it works exactly like Paypal.

Is Dwolla only for US customers?

fund your mtgox account with a wire transfer
buy btc's at mtgox
transfer btc's from mtgox to btc-e
convert btc's into ltc's at btc-e
wait like a bull

so why exactly is the BTC price on mtgox higher than btc e? This seems very interesting and creates a lot of possibilities :thumbsup

It seems to always be higher. Very rarely is btc-e at or above MTgox.

I'm going to try using OKPAY to BTC to OKPAY. I used to use Dwolla but not anymore since MTGox requires gov ID to use Dwolla.

It does indeed and that's why we fund BTC-E primarily and then send BTC out to MTGOX ;)

is the btc-e price a delay or just lower... If mtgox price goes up... btc-e price follows a few minutes later?