Cheapest and Fastest method using Bank Transfer/Wire to purchase BTC?

boosblock

member

Activity: 126

Merit: 22

Quote from: Newar on July 08, 2012, 11:23:05 AM

Quote from: boosblock on July 07, 2012, 07:28:09 PM

I did some cursory research and was told to go through dwolla. Signed up there but wasnt thrilled with the fact I needed to provide SSN. I understand divulging my identity is probably a requirement when using a bank account. Thats fine. I dont feel secure giving my SSN to a company I found out about 10 min ago.

Please note, i'm also looking for something with low fees as I intend to purchase bit coins frequently.

Thanks in advance.

Where are you?

The majority of fees with wire transfers are with your bank sending and the bank receiving. For the former talk to your bank. For receiving I looked at BTC-e at one point and their recieveing bank fee was 3% and no fee to bring it in to BTC-e.

SEPA in Europe is a cheap option.

I understand bitfloor is good for people in the US.

I am located in the US

Newar

legendary

Activity: 1358

Merit: 1001

https://gliph.me/hUF

Quote from: boosblock on July 07, 2012, 07:28:09 PM

I did some cursory research and was told to go through dwolla. Signed up there but wasnt thrilled with the fact I needed to provide SSN. I understand divulging my identity is probably a requirement when using a bank account. Thats fine. I dont feel secure giving my SSN to a company I found out about 10 min ago.

Please note, i'm also looking for something with low fees as I intend to purchase bit coins frequently.

Thanks in advance.

Where are you?

The majority of fees with wire transfers are with your bank sending and the bank receiving. For the former talk to your bank. For receiving I looked at BTC-e at one point and their recieveing bank fee was 3% and no fee to bring it in to BTC-e.

SEPA in Europe is a cheap option.

I understand bitfloor is good for people in the US.

TangibleCryptography

sr. member

Activity: 476

Merit: 250

Tangible Cryptography LLC

Plenty of feedback and endorsements here, here, here, and here.

Tangible Cryptography was started by bitcointalk member DeathAndTaxes who has been around quite a while. The company is an LLC incorporated in Virginia and registered with the Virginia State Corporation Commission.

boosblock

member

Activity: 126

Merit: 22

Quote from: TangibleCryptography on July 08, 2012, 10:58:27 AM

If you are looking to buy a larger quantity of coins we have an open offer to sell our surplus coins.

https://bitcointalksearch.org/topic/bitcoins-direct-support-thread-87094

I am looking to start with a purchase of around $5000 USD equivalent; however, I am completely uninitiated and have no idea who i'm dealing with.

can you allay my concerns?

TangibleCryptography

sr. member

Activity: 476

Merit: 250

Tangible Cryptography LLC

If you are looking to buy a larger quantity of coins we have an open offer to sell our surplus coins.

https://bitcointalksearch.org/topic/bitcoins-direct-support-thread-87094

boosblock

member

Activity: 126

Merit: 22

Quote from: Koooooj on July 08, 2012, 02:00:27 AM

Also interested. I've had an account with Dwolla for months, to cash out my Mt Gox sales, but recently wanted to move USD back into bitcoins in order to invest in Pirate (through Bitcoin max). Despite having a verified account on both Mt Gox and Dwolla, and having provided my SSN to Dwolla, they blocked the transaction, since it had been less than 30 days since the first deposit from my bank account.... never mind that I was looking to use money that had been cleared from my bank account--it's not like I could have spent money that I hadn't given them already. Never mind that any fraud I could have fruitlessly attempted could be easily traced to me since both companies have a copy of my driver's licence and address. My suggestion is to not use Dwolla. Others may have had better experiences and are welcome to disagree, but my experience has been unacceptably poor.

More along the lines of answering your question, I have heard good things about bit instant. Perhaps someone who has used that service can weigh in. I'm considering using them soon.

Thanks for the reply.

I too looked at bitinstant but their fees are pretty steep, starting at around 4% if i'm reading correctly.

Thoughts?

mystery2048

member

Activity: 70

Merit: 10

I like using Intersango, which is good if you deal with EUR/GBP/ETC

Koooooj

member

Activity: 75

Merit: 10

Also interested. I've had an account with Dwolla for months, to cash out my Mt Gox sales, but recently wanted to move USD back into bitcoins in order to invest in Pirate (through Bitcoin max). Despite having a verified account on both Mt Gox and Dwolla, and having provided my SSN to Dwolla, they blocked the transaction, since it had been less than 30 days since the first deposit from my bank account.... never mind that I was looking to use money that had been cleared from my bank account--it's not like I could have spent money that I hadn't given them already. Never mind that any fraud I could have fruitlessly attempted could be easily traced to me since both companies have a copy of my driver's licence and address. My suggestion is to not use Dwolla. Others may have had better experiences and are welcome to disagree, but my experience has been unacceptably poor.

More along the lines of answering your question, I have heard good things about bit instant. Perhaps someone who has used that service can weigh in. I'm considering using them soon.

boosblock

member

Activity: 126

Merit: 22

I did some cursory research and was told to go through dwolla. Signed up there but wasnt thrilled with the fact I needed to provide SSN. I understand divulging my identity is probably a requirement when using a bank account. Thats fine. I dont feel secure giving my SSN to a company I found out about 10 min ago.

Please note, i'm also looking for something with low fees as I intend to purchase bit coins frequently.

Thanks in advance.

Topic: Cheapest and Fastest method using Bank Transfer/Wire to purchase BTC? (Read 1042 times)