Silk Road forums
Discussion => Newbie discussion => Topic started by: metacontxt on July 06, 2013, 01:47 pm
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Buying BTC from Mt Gox at market prices would appear to be an extremely slow pain in the arse that isn't worth it due to the bank fee for wiring your cash to Japan - unless you're buying in significant quantity.
At the moment, 1BTC is worth about AU$75. The BTC seller on localbitcoins.com offering the best sell rate is currently selling BTC for AU$82. A ~10% premium sounds reasonable to me considering the speed with which I have the BTC in my SR account. Thoughts?
Are there other ways to obtain BTC at something closer to the current market exchange rate that don't involve the hassle MtGox puts you through?
And approx how much extra are you willing to pay over the market rate for BTC?
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I believe bitinstant is about 4%. You can go on their site and enter an amount and method of transfer, and you'll get the fee amount and %.
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C O I N B A S E.... Trying them out after horribly insane exchange rates drove wait times to be reasonable. Think they are 1-3%.
Remove the " && " for link.
https://coinbase && .com/?r=51c1f18e278c34a0ce000020#.UcRpcqBKTrs.gmail
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I'm in Australia and sending money to those US and Japanese exchanges will involve an international money transfer that will probably cost more than the spread between the market rate and what the sellers are asking. Sigh. There are some local sellers who use the market rate but then (understandably) add a 7-10% fee on top of the trade. Localbitcoins.com seems like the best option for now.