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Discussion => Silk Road discussion => Topic started by: azmotox1 on November 21, 2012, 11:27 pm

Title: Bitinstant doesn't accept $1000.00 cash depostit? Help?
Post by: azmotox1 on November 21, 2012, 11:27 pm
I have had 2 successful deposits with Bitinstant to instawallet with cash deposit at local bank..I have deposited over $1000 before and now I just tried to set it up 6 times and it won't allow cash deposits anywhere near $1000? Please help?
Title: Re: Bitinstant doesn't accept $1000.00 cash depostit? Help?
Post by: Gusman17 on November 21, 2012, 11:46 pm
Split into 2 $500 deposits.
Title: Re: Bitinstant doesn't accept $1000.00 cash depostit? Help?
Post by: danconia on November 21, 2012, 11:50 pm
I have had 2 successful deposits with Bitinstant to instawallet with cash deposit at local bank..I have deposited over $1000 before and now I just tried to set it up 6 times and it won't allow cash deposits anywhere near $1000? Please help?

For some reason around 1-2 months ago their Moneygram partner started limiting deposits to $500.  They also took away the cash deposit-to-bank option.  I occasionally need more than $500 worth of BTC and the easiest way to do it currently (for me, at least) is to split up the deposits into $500 portions and use Walmart (they don't really require ID at most of them).  What's annoying is that I apparently have to use different names / addresses / phone numbers for the different deposits otherwise Zip Zap Inc will suspect that it's the same person making the separate deposits.

For now it's a hassle.  I think in the near future I'll be a vendor on SR selling cash for BTC since I will be making a lot of cash and don't want to have to run around to get more BTC.  Hope this shines some light on the issue for you.
Title: Re: Bitinstant doesn't accept $1000.00 cash depostit? Help?
Post by: azmotox1 on November 22, 2012, 12:33 am
Interesting, It seemed as if I could do a bank deposit to bitcoin address but the Cash deposit company looked different and every amount said that my chosen amount was the limit and it wouldn't work.

Hmm so choose Walmart to bitcoin address for that method?
Title: Re: Bitinstant doesn't accept $1000.00 cash depostit? Help?
Post by: Wazup7 on November 22, 2012, 12:39 am
@danconia, thanks for clearing up what I was going to post when I read the thread title.

The safest and most anonymous way to get BTC is to purchase them for cash from a vendor on SR.  The BTC market on SR is complex, so be sure to do plentiful research before going this route.

I do use BitInstant, and do my cash deposits at WalMarts.  WalMart is good because, more often than not (well, every single time I've done it), the customer service rep doesn't give a shit, and will input whatever you tell them to.  Personally, I am able to plan well enough in advance to know when I'll be dropping > $500, so that I can split up my deposits over a few days, and among a few different WalMart locations.  (Only once have I had to run to 3 WalMarts in one night, so I could have enough BTC in my SR wallet in time to buy some quick-selling LSD, and it was really scary because those coins weren't tumbled for more than 2 hours--never again will I take a risk like that).

My point is--if this is a problem for you "today", then that sucks.  Otherwise, now you know that it's $500 a pop, so you can plan accordingly, which really isn't a big deal. 

The most important thing is to plan your BTC purchases, so you have enough time to tumble them.  If your issue is that you need >$500 today to make a purchase, then your problem isn't the question of "how" to get the BTC, it's a question of "can the BTC I'm purchasing link me to the illegal items I'm buying."
Title: Re: Bitinstant doesn't accept $1000.00 cash depostit? Help?
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