Topic: Buy bitcoin with cash deposits at most banks in the USA with Bitcoin-Brokers - page 24. (Read 104490 times)

I see, I looked around a bit and didn't see how you planned on making money and I by nature assume people don't do things like this for free. A fee is reasonable to expect, and 2% seems really fair.

If you are located in the US are you worried about money regulations? If you are do you have a plan to comply with all of the required regulations? Or are you planning on your business model exempting you from those regulations?

I hope you don't think I'm trying to be a pain, but like NewLiberty said you are off to a fantastic start!

The service launched June 18th offering people the ability to list their bitcoins on the site for free. When a seller lists their bitcoins on the site, they also provide us with their personal banking information.

When an interested purchaser sees bitcoins which are listed on our site, they can see which bank they can make a payment at to purchase the bitcoins.

We provide instructions to the purchaser of bitcoins to deposit the purchase amount directly into the account of the owner of the bitcoins.
Setting the business up in this fashion allows bitcoin sellers to sell their bitcoins for free, and receive cash deposits into their bank account based on current MtGox rates. This saves the seller the costs normally associated with selling bitcoins such as MtGox fees, wire transfer fees, currency exchange. Eventually when the website gains enough attention it will also become the fastest way for sellers to gain access to cleared cash from sold bitcoins.

The benefit from the buyer’s standpoint is that they can begin to buy bitcoins at major banks, and the net fee to the buyer is only 2%.

This is a win-win-win scenario for buyer, seller, and Bitcoin-Brokers.org

As long as buyers are happy paying 2%, and sellers are happy receiving cash for their bitcoins, Bitcoin-Brokers will happily bring the two together.

Confirmed, bitcoins received. The process was swift and effective.  
You are off to a good start.  It is an escrow with good visibility.
The criticisms above are good ones, (site management, security, business depth, insurance bond, etc) and they worth working through as your time permits.  I hope for your success and look forward to more transactions in the future.

What exactly is your business model, if you make nothing from transactions? Do you charge for coins, or what?

If you don't have any income, how can I be sure that your company will be there tomorrow? And above all else, what's in it for you? Wait till you've got a big wallet than disappear?

I am happy to report back that the seller has confirmed receipt of cash in their bank account. Bitcoins have now been released to the buyer.

I am proud to say that our very first seller of bitcoins loaded coins onto our site for free yesterday, and had cash in his bank account within a few hours.

Great first transaction.

Total cost to the seller of the bitcoins ..........free.

Who else would like to load some bitcoins onto our site for free and receive cash payments?

There would be a delay with a check. 
This is depositing cash to your bank account by handing them bills and telling them the account number. 
It is credited before you leave the window.
Convenient and fast.

This is how it is structured:

1)Sellers list bitcoins on our site for free.  We collect the seller's personal name, bank account info and direct the buyers to visit any branch that the seller holds an account at.

2) Buyer deposits cash into seller's account, collects the deposit slip and the business card of the teller who accepted the cash deposit. This deposit slip is sent to us as proof of deposit. We then forward this to the seller, who then verifies funds are there via online banking. (With the option of verifying the deposit by speaking with the bank directly who accepted the deposit if the need arises).

3)Seller gives us the green light to release bitcoins to the buyer.

There is zero time lag because these are actual cash deposits.

Our first bitcoins were loaded for sale on the site this morning. They went under contract within a couple hours. The buyer paid cash into the sellers bank account. I have forwarded this proof of deposit to the seller and at this moment the buyer and I are simply waiting for the seller to provide the green light for me to release the bitcoins to the buyer. When that occurs the first transaction will have been completed.

don't you still have to wait 2-4 business days for the transaction to clear to the bank?

Just waiting for the seller to give me the green light to release to the buyer.

I bought the coins, paid at the bank.
So I should see the bitcoins show up shortly, and will post again when I do.
If this floats, it is super convenient. 
Can drop off spare fiat at most any bank as I do my errands.
Or sell bitcoin easily direct funding into my own account.
It seems very good for fast liquidity of small amounts.

I am happy to say that we had our first trusting bitcoin seller load some bitcoins onto our site yesterday which is now available for purchase.

These bitcoins can be purchased by anyone in the USA be depositing cash at any Bank of America.

This listing can be found here:

http://www.bitcoin-brokers.org/buy-bitcoins-at-bank-of-america/

The service is new, and this is why buyers and sellers have the ability to transact in volumes as low as $10

I am truly hoping that the sellers of bitcoins come to try the service out. Once money starts being deposited successfully in people's accounts, I trust that positive reports will emerge.

This is fine if you are just starting up but:

site is not even https secured?

site is not even a real company? can't find info on Mexbill Pay the organization who registered the domain according to these docs. also do real companies use yahoo addresses on their contact info? i'm just trying to prevent anyone from getting scammed until we know the legitimacy of your company.


source: http://www.networksolutions.com/whois/results.jsp?domain=bitcoin-brokers.org

www.Bitcoin-Brokers.org


Today's bitcoin can be purchased right now at:


In the USA:


Bank of America
Wells Fargo
PNC Bank





How Bitcoin-Brokers works:

Bitcoin-Brokers brings together bitcoin buyers and bitcoin sellers and creates the framework for a safe, easy, and convenient experience for both parties to either buy or sell bitcoin.

Buyers who wish to purchase bitcoin can do so by submitting a support ticket asking for a quote through our helpdesk. There is no sign up. There are no forms to fill out. Simply submit the support ticket, and request a quote.

Within minutes after submitting a request for a quote, the buyer will be presented with the option to pay for the bitcoin by making a cash deposit at a bank of their choice. The bank account which the buyer makes a cash deposit into will be the bank account of the bitcoin seller. The buyer pays the seller directly. Bitcoin-Brokers never touches the buyer’s cash.

 

Sellers can now list their bitcoin for sale at whatever prices they want.  Bitcoin will be available at different prices at different banks. When a buyer requests a quote, they will be presented with the available inventory of bitcoin at each bank, along with the price which each seller needs to be paid. Bitcoin-Broker’s fee paid by the buyer is 2%. There are zero fees paid by the seller of bitcoin.

 

Buyers will then choose which bank and price they prefer.  Bitcoin-Brokers will then forward the necessary deposit instructions to the buyer to complete the transaction. After the buyer has made the cash-only deposit into the seller’s account, the buyer will need to photograph the deposit receipt and upload that receipt to the same support ticket that was used to initiate the transaction as proof of deposit.

 

The proof of deposit is forwarded to the seller who confirms the deposit has been made into their account via their online banking. The seller then grants Bitcoin-Brokers permission to release the escrowed bitcoin to the buyer and the transaction is complete.

 

The buyer is always guaranteed to receive bitcoin because each seller needs to place their bitcoin in escrow with Bitcoin-Brokers prior to Bitcoin-Brokers presenting the seller’s bitcoins as available inventory to interested buyers.

 

FAQ

 

Q) The price of bitcoin moves up and down in the open market. At what point through the transaction are  prices determined?

 

A)Pricing of the bitcoin is set at the time it is sent to your wallet.

 

Q)How long after a deposit has been made, and proof of deposit supplied before bitcoin are released to the buyer’s wallet?

 

A)Sellers have 24 hours to release, though 99% of the time it is within a couple of hours.
 

Q)Do quotes ever expire?

 

A)Yes. Quotes expire at the end of the day they are issued if they go unfulfilled.
 

 

Q)I bank at the same bank as the seller. Can I simply perform an account to account transfer?

 

A)No. The only form of payment which is acceptable is a cash deposit.

 

Q)Will Bitcoin-Brokers escrow a private bitcoin purchase where the buyer and seller have already found each other and they simply need a trusted source to use as an escrow service?

 

A)Yes. The fee for this is 1%. Minimum transaction size for these transactions are $1,000. There are no maximum sized transactions.

 

Q)As a seller, can I ask for my bitcoin back?

 

A)Yes. Your bitcoin can be returned at any time. There is a 1% fee to return bitcoin.

 

Q)Are there any minimum transactions values?

 

A)The minimum transaction amount at Bitcoin-Brokers is $400.