Bitcoin Forum

 Hello to all ,

I have been pulling my hair for the past 2 hours I can't figure out how to get funds from my bank account into bitcoins. I need to send the funds to a seller, but don't know how  . Please can someone tell me the easiest way to do this . I signed up at bitcoin7 , but can't figure the site out . Is there something else I can use that's easier that you can recommend ? Is there any steps I am missing ? Please all help would be greatly appreciated

Thank You

https://www.tradehill.com/ (https://www.tradehill.com/)

www.mtgox.com is also very popular, but I prefer Tradehill as well. Happy bitcoining :P

https://www.bitcoinbux.com

Okay great !! I went with Tradehill and I chose to Deposit funds into my tradehill account via wire transfer domestic and now it says "  Deposit of 100.00 USD via Wire Transfer (Domestic) from Any US Bank" . Now it says someone will contact me soon with further directions, and it also says if I don't hear from them to contact them , so I would be contacting Tradehill , correct if I don't hear anything ? Once the funds are in my Tradehill account will they become Bitcoins ? For my last question how or what would I use to send funds to the seller during checkout ?

Thanks again for all your time, I really appreciate the help .

Once your funds are transferred you use them to buy bitcoins, it doesn't instantly convert them.

Thanks for the reply !! Will tradehill help me with converting the money into bitcoins ?

If the person seller doesn't have a Tradehill account will I still be able to send them Bitcoins if they use something different besides Tradehill  ?  Will Tradehill give me a bitcoin address so I can get the transfer to another account ?

Thank You

P.S. These are the last questions I have llol . I should be good to go once they are answer

Hi Sampelz9,

Tradehill acts just like a stock exchange, but for bitcoin. To buy bitcoins place a buy order for the quantity and amount you want.

Only Tradehill account holders will be able to sell you bitcoins. Your buy order can include one or more sellers and is done automatically when a sell order meets your buy order price.

To withdraw bitcoins from Tradehill you tell them which of your receiving addresses from your bitcoin client you want to use.

n.olmos

Once you've bought Bitcoins on the TradeHill exchange - you *could* use their "Withdraw Funds" link to send directly from TradeHill to the merchant's checkout.
(Withdrawal method BTC)
If you do this - you're effectively using TradeHill as your 'wallet'.

It looks like TradeHill has an estimated time of 'up to 12 hours' for Bitcoin withdrawals... so I don't know how practical it is to use TradeHill as a wallet, because perhaps some merchant systems may time out.

Personally I think MtGox is better.. but you'll get plenty of dissenting opinions around here on which exchange to use I guess.


So - you might also consider downloading the bitcoin client from bitcoin.org, and withdrawing your coins to the wallet on your computer.   This has a separate set of security concerns - but ultimately it's probably the best way to be in control of your own bitcoins.

For most purchases I think using your own wallet is a best practice.
Withdraw some bitcoin to the wallet on your computer, The wallet that is part of the bitcoin client software.
Now have the person your paying send you a receiving address via email or whatever.
Click on "send" in the client and copy/paste the receiving address when prompted.  Also enter the amount.


That's it. You don't need any sort of middleman.

A wire transfer is going to cost you in the range of $20 or more, depending on who you bank with.

If you are in the U.S. or Canada, perhaps the quickest method is to use an exchange that accepts cash deposit at a bank.  The the U.S., this would be http://www.exchb.com and the banks where you can deposit cash is either Wells Fargo or Bank of America.  The fee for a $100 deposit is $1.  In Canada there is http://www.cavirtex.com and http://bitcoin-central.net which offer cash deposit methods.

If you don't mind a delay and are in the U.S., another method is to sign up with Dwolla and then link your bank account to Dwolla and use them to transfer funds to an exchange.  You then have several methods:
 - http://en.bitcoin.it/wiki/Buying_bitcoins

Get BTC price from vendor.
Sign up for dwolla.
Add bank account to Dwolla. Takes two weeks to verify. USD/BTC drops 30%.
Deposit money form bank account to Dwolla. Takes 5 business days. USD/BTC drops 20%.
Sign up for tradehill account.
Send money from Dwolla to Tradehill. Takes 2 business days. USD/BTC drops 10%.
Buy bitcoin on tradehill. 0.65% fee. Oops, market dropped 5% again.
Contact vendor to purchase item. No response.
Find new vendor. Wants twice as much for item.
Give up, buy item at Wal-Mart.