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Topic: Mail a check for USD for BTC - Testing the waters (Read 704 times)

hero member
Activity: 633
Merit: 500
I am thinking about opening up a web store that will essentially sell checks via mail for BTC.  Users would need to be in the United States and checks would go out M-F.  As such, users would be getting their USD much sooner than if they were to sell BTC on an exchange, then move the money to Dwolla, then move the money from Dwolla to a bank account... etc...

It will start very small - maybe only 10BTC for sale at a time, but I hope it will grow after that.  Fees would be in the neighborhood of 2%, plus a $1 shipping charge.

I am looking to use existing e-commerce software, but existing solutions seem to be few and far between.

So here is what I'm looking for...

A simple site that displays the amount of USD available for purchase.  This would go down as people make purchases, like a store's stock of items.

A field where the user can enter the amount of USD's they want to buy.

A purchase button.

The user clicks the purchase button, enters in their info (name, mailing address, etc...), and they are shown a BTC address to fund, with a timer that will tick down.

Once they fund the BTC address, a confirmation e-mail is sent to both the purchaser and me.

I will be using MtGox to replenish my checking account as it runs low, so using the MtGox merchant API would seem to be a fit here... but I don't know how to use such things.

So... what do you think about this?  Would someone be willing to code such a thing if there isn't an out of the box solution already out there?  If so... what would you charge?
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