Silk Road forums

Discussion => Newbie discussion => Topic started by: gpgbuisman on May 19, 2013, 02:59 pm

Title: ADVICE TO NEWBIES! avoid mtgox, use bitinstant.
Post by: gpgbuisman on May 19, 2013, 02:59 pm
To simple to cash deposit to email then transfer, takes less than 1 hour. avoid swapping your bitcoin through multiple wallets as some wallets take a pinch of coin! i spent 135$ for 1 btc when its at 115-120 though i wish i could have avoided this but less hassle getting a bitcoin for 10$ more im down.
Title: Re: ADVICE TO NEWBIES! avoid mtgox, use bitinstant.
Post by: zeroproxy on May 19, 2013, 03:10 pm
Have you run into any of these issues that others have reported having with bitinstant losing their deposits? That's the only hesitation I have when it comes to using bitinstant otherwise it seems like a pretty good service.
Title: Re: ADVICE TO NEWBIES! avoid mtgox, use bitinstant.
Post by: michael58 on May 19, 2013, 03:27 pm
former Dwolla user here ...... signed up for coinbase ........ I guess the thing people dislike most about coinbase is actually linking a bank account ...... no anonymity there. Here's how it worked for me ........ 3 days to verify the account ........ placed an order for bitcoin and the site gave me a date the coins would be a available ..... 3 days later I will have bitcoin available. The coin will be ready to send as soon as it hits your account.This is probably not the way to go if you are only buying 1 bitcoin at a time. If you want to buy lets say 7-10 coins and use them at will ..... this is a great service as they only charge 1 % for the purchase and you can just leave the coins in the coinbase wallet until ready to use. The upside was that when I purchased the coins MTGOX had a lowest ask price of 118 and some change ...... I actually paid 118 and some change for my coins so over all it was a very inexpensive transaction.
Title: Re: ADVICE TO NEWBIES! avoid mtgox, use bitinstant.
Post by: boob420 on May 19, 2013, 03:30 pm
I've never had a single problem using Bitinstant.  I started with Bitinstant, and went to Bitfloor for a while until they went belly up, and have gone back to Bitinstant without issue again.  Like some other have mentioned, Bitinstant is usually very reliable in regards to smaller amounts of money, but large scale money exchanges can be risky with Bitinstant.
Title: Re: ADVICE TO NEWBIES! avoid mtgox, use bitinstant.
Post by: gpgbuisman on May 19, 2013, 03:36 pm
ive heard other people claiming to have a problem from bit instant but i did the process in about 1 hour. all you do is go to bitinstant.com chose cash deposit to email, or however you want to deposit it too, Never deposit it to mtgox or another company wallet, i recommend email to blockchain to sr. fill out how much cash you would like to deposit to bitcoins, roughly 135$= 1btc for me, NOTE you can buy % of bitcoins.  after filling out the form it will give you a bill payer form, take a picture of it or print it out, take it to the location you chose walmart, cvs , ect and fill out a blue moneygram form, Bitinstant wil send a receipt to your email after you have deposited your cash to walmart, it took 5 minutes for me to get an email.  Dont be afraid to use your information because as we all know buying a bitcoin is legal.  Very simple process i had no troubles with, ive never had my funds not sent to my email.  I do not use dwolla because it takes 1-3 buisn days to tranfer your money to bitcoins, and why pay dwolla per transaction allready tons of people pinching your btc, i do agree t hough for larger transactions dwolla would be my go too but im not depositing 1ks at a time
Title: Re: ADVICE TO NEWBIES! avoid mtgox, use bitinstant.
Post by: michael58 on May 19, 2013, 03:47 pm
This is another reason I like coinbase ...... there is no going to Walmart or CVS....... no and written forms to fill out .... no moneygrams to buy. You do everything from the comfort of your easy chair at home. But once again .... to each is own ...... what works for me may not be what works for you. This really is a great way to go if you don't mind buying multiple coins at one time.