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Title: I'm newbie with basic brokering questions. Post by: j8h9 on July 16, 2013, 11:15:50 PM I'm newbie with basic brokering questions.
There seems t o be demand for cash/anonymous transactions. From the little I have learned, looks like cash transactions are typically cash by mail, in person or via bank deposit. All completely legal. Correct me if I'm wrong but... Starting a new brokering business would entail 1) creating/funding a mt gox account, 2) purchase btc with mtgox acct, 3) establish bank acct at Wells Fargo or Chase, 4) advertise (localbitcoins.com). A transaction would consist of creating a transaction on locabitcoins.com, for instance and then... Bank Deposit: 1) customer making a deposit in my Wells Fargo/Chase account, 2) me sending btc from mt gox acct to customer wallet. Cash by Mail: 1) customer mail cash to my PO BOX, 2) me sending btc from mt gox acct to customer wallet. q1. what is the typical markup for cash transactions? What is fair? I've seen 10-15%. q2. what kind of bank acct? Savings? Checking? Do I need to tell the bank anything special such as I'll be getting lots of cash deposits from all over the country? q3. is cash by mail viable? How can cash be securely hidden in USPS mail? |