Topic: Why is it so hard to buy BTC with USD? (Read 2454 times)

I was under the impression that BX only allowed withdrawals with banks, not deposits. Is there an option I'm missing? They accept Dwolla deposits, money orders, and personal checks (with verified accounts). I literally just looked at the "transfer" area, and there's no other options for deposits.

That would be pretty damn handy if they accepted wire transfers.

Thanks for the heads up on this. I may give them a try. The fees are a bit high though, but it might be worth it if they're reliable.

Stay away from BitInstant, at least for right now. They have a new site up in beta, and it's hosed up. Tons of people reporting problems.

It's a pretty convenient service when it works, but I'm fed up, since I've had problems with them before. Time to find an alternative.

CampBX also allows transfers from some banks without Dwolla - 3 day delay I believe but one less intermediary.

try btcquick.com , they use google wallet?

I don't agree with this.

BitInstant is incredibly easy, but you'll end up paying multiple fees. BTCquick is another easy to use site, but you'll have to send photo ID and so forth in order to purchase BTC.

There are alternatives to any "easy" service, up to and including private trades with others. Your best bet would probably be to use PayPal or a bank transfer and to get a reputable escrow medium to oversee the transaction. You and the seller will be protected, and it won't take as much time as site verification.

Alternatively, you could do the "freebooter" method of purchasing coins, which is to hit OTC or another gathering place for traders (These forums, for instance), and just trade. You run the risk of scams, but it's also the fastest way to get Bitcoins that I can think of offhand.

DoctorBTC on #Bitcoin-OTC is trustworthy. So are "heavies" like BCB and BigBitz. BigBitz can and will cut you, but that's just business. His prices are to make profit, and that's respectable.

I can't think of too many other sellers offhand that I have had dealings with. Buyers, sure.

Anyway, just be careful. Don't let impatience and/or frustration with exchange sites lead you to make rash decisions. Ask around the community about exchanges/people before making transactions. Reputation is everything. Someone with a spotless record didn't get that way by stealing your money.

Good luck.

It is not premined, because it is not mined.

cool link too the mining pool please

LOL

USD is not premined, it's just that the creators can add as much as they want to their own accounts whenever they want.

Why is it so hard to buy BTC with USD?

ummm because around here USD is 100% preminned junk 

If you are in the US, Look into Coinbase or Dwolla+CampBX. Dwolla and Coinbase link directly to your bank account, and moving money from Dwolla to CampBX is almost instant. Then you can use either Coinbase or CampBX to trade the USD for BTC, and then send it on to your wallet.

Every once in a while somebody pops up with a website selling bitcoins directly paid with credit card, but none of them have lasted very long.

Wow thats not encouraging... I was just about to give them $500 Im not so sure now.

Buying bitcoins as a beginner seems like it would be a nightmare :|

https://localbitcoins.com/

Yes, this is the biggest problem in the Bitcoin community today.

Check out my Bitcoin Business Wishlist (second item) for my proposal on how to solve this:
https://sites.google.com/site/whoissatoshi/bitcoin-business-wishlist

and PM me if you're interested in working on this.

Another reason is trust, no-one really trusts each other (which is no necessarily bad, but does create problems), so standard methods of payment like paypal are not used (and paypal's policy on not allowing BTC trades does not help either).

I've done 5 transactions with bitinstant and only 1 went through without needing to contact support.  Contacting support took a minimum of 1 day, and usually 2 days to resolve. 

He is right, they are pretty slammed.  As long as you don't need support, you should be fine though.  The big problems right now are when people put the wrong amount in the form when using MtGox Coupons, and thus need to be manually transacted (really, BitInstants fault for having a system that relies on customers being intelligent creatures), which requires you to contact support, which is swamped.

Be careful with Bitinstant, I'm not saying they're a bad service, they've just been getting slammed with buy orders and a lot of people haven't been getting their Bitcoins as immediately as promised. Do your research, there are many stories on this.

https://www.bitinstant.com/howitworks/cash

The cash deposit part goes though another company.  They have partnerships with most of these deposit locations.