I understand MtGox now checks every hour for new Dwolla deposits, but how about withdrawals?
shouldn't those be completely instant and automatic? why do they take so long?
Topic: Dwolla to Mt. Gox vs. Dwolla to TradeHill (Read 3294 times)
Guys, I apologize if you're having problems getting money into Dwolla reliably. They have been doing what they can to improve the ACH transfer times, but it's hard to get every bank on board with them.
The reason why every exchange or OTC trader is pushing Dwolla though is because it is much much much more scam-proof. If someone sends money from Dwolla, it's practically like sending it from their bank. If someone send from Paypal, they are almost certainly a chargeback scammer.
The reason why every exchange or OTC trader is pushing Dwolla though is because it is much much much more scam-proof. If someone sends money from Dwolla, it's practically like sending it from their bank. If someone send from Paypal, they are almost certainly a chargeback scammer.
Stephen I like what you wrote. One thing that confuses me is ..ok my money is at mtgox I've put my buy order in and lets say it gets filled then how is the Bitcoins sent to me and from who?
The bitcoins you buy are added to your bitcoin balance in your exchange account.
If you wish to withdraw those bitcoins to your local wallet or to send them anywhere else, use the link for Withdraw:
- http://mtgox.com/users/withdraw
Here's copypasta from my dwolla account:
Sent To: Mutum Sigillum LLC
Sent On: 6/10/2011 3:03:10 PM
Expected Clearing Date: 6/16/2011 by 5PM CST
Even ignoring the weekend, this is 3 days. I'm calling Dwolla.
Sent To: Mutum Sigillum LLC
Sent On: 6/10/2011 3:03:10 PM
Expected Clearing Date: 6/16/2011 by 5PM CST
Even ignoring the weekend, this is 3 days. I'm calling Dwolla.
Three business days.
Dwolla certainly doesn't have your funds yet.
For info we have updated the system here, now checks are done every hour (at XX:50, takes ~5 minutes to get the whole backlog from Dwolla)
Here's copypasta from my dwolla account:
Sent To: Mutum Sigillum LLC
Sent On: 6/10/2011 3:03:10 PM
Expected Clearing Date: 6/16/2011 by 5PM CST
Even ignoring the weekend, this is 3 days. I'm calling Dwolla.
Sent To: Mutum Sigillum LLC
Sent On: 6/10/2011 3:03:10 PM
Expected Clearing Date: 6/16/2011 by 5PM CST
Even ignoring the weekend, this is 3 days. I'm calling Dwolla.
Stephen I like what you wrote. One thing that confuses me is ..ok my money is at mtgox I've put my buy order in and lets say it gets filled then how is the Bitcoins sent to me and from who?
Anything would be better than Mt. Gox right now which says it will take nearly a WEEK to take the dollars I sent it via Dwolla.
I think you might have misunderstood something.
Dwolla is a cash service. Getting cash into dwolla is what takes a long time. From there, sending the cash already sitting in your Dwolla to either Mt. Gox or TradeHill is fairly quick. Technically, it happens instantly -- Dwolla's debits your Dwolla account for the amount you sent and then credits the Dwolla account to whom you sent funds.
Now, the method that the exchange uses to then credit your account at the exchange with the funds received will vary per exchange.
Mt. Gox processes Dwolla transactions
TradeHill, based out of Chile, might have an automated method so it is processed instantaneously or a manual process that runs more frequently or has operating hours that are in the same time zone as you.
If you have sent funds from Dwolla to the exchange and it has taken more than one business day for those funds to become credited to your account on that exchange, then that's not normal.
Buddy, patience...it's just one week.
Also, Dwola transactions take 0-3 business days as per their website.
Also, Dwola transactions take 0-3 business days as per their website.
On Tradehill it says that dwolla transfers to Tradehill (USD) are "instant". Does anyone have experience with this? Anything would be better than Mt. Gox right now which says it will take nearly a WEEK to take the dollars I sent it via Dwolla.
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