Silk Road forums
Discussion => Security => Topic started by: wasneverhere on June 04, 2012, 07:04 pm
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ok so i know i already posted for help but i dont understand how to get bitcoins. i set up an account on mt. gox and i see where it says put in bitcoins u want and the money exchange and the button where it says but bitcoins. so i did but it said there is not enough funds in wallet!! so i still wonder how the hell u pay for the coins and also whats with the address with the numbers and letters where it says send to this address??!?! just want to get started please help!!
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You have to add funds to your account first. The easiest way to do this, IMO, is to use the cash deposit via BitInstant option on Mt.Gox. All you do is enter in the amount you want to add, it will give you a total amount that you are to deposit (this total is the money you want to add plus a small service fee, usually like 2-3 dollars). It will direct you to the TrustCash site where it will create a deposit invoice. Just take this invoice and exact change to the bank you selected (usually one of the Chase bank branches) and hand the deposit invoice and money over to the teller. You will not have to show any identification or answer any questions. Once you get your deposit confirmation slip from the teller, go home and check your Mt.Gox account. Your funds (in your selected currency) should be in your account already (It usually only takes like 30-40 minutes, but it can take up to a couple of hours). Once you have your funds in your Mt. Gox account, go to the buy bitcoins section, enter in the amount of money you would like to spend on bitcoins and it will buy them for the current BTC exchange rate.
Once you have your bitcoins purchased, it's time to move them into a separate wallet. I use Instawallet, it's quick and easy.
The address with the numbers and letters is your wallet address. You will use this to send or deposit funds between accounts. Your SR account has a bitcoin address. At instawallet, copy the bitcoin fund deposit address into the Mt.Gox box where it asks where to send the funds to.
NOTE: ONCE YOU GET AN INSTAWALLET URL ADDRESS, **DO NOT LOSE IT** (this is not the same as your bitcoin address) If you don't write down the URL and you forget it, any funds in your wallet are unable to be retrieved, since the URL is unique to your instawallet. I repeat, DO NOT FORGET YOUR INSTAWALLET URL. WRITE IT DOWN AS SOON AS YOU GET IT!
After your funds have been transferred to your Instawallet (usually immediately), you have to wait around 10-20 minutes before you can move the funds to another wallet (either external, such as Bitcoin-QT or your wallet that is attached to your SR account.
Hope this helps,
sdesu
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...What sdesu said.