I can only post in Newbies so I'll have to reply here. I'm thinking about using Crypto X Change but it looks like some people have had bad experiences with them in the past. Can anyone give a consensus on how reliable/trustworthy they are? There fees are much cheaper than transferring straight to Mt. Gox.

Thanks,
Phatefolder

Brilliant reply, thanks so much, it is must clearer in my head now. Do you know the reputation of Crypto X Change? They have some great offers at the moment with very low fees for depositing AUD and it will automatically be converted to USD and from there can be used to purchase Mt. Gox codes. Are they a trustworthy company?

Cheers,
Phatefolder

Sorry just to be clear, when I'm purchasing bitcoins on Mt. Gox, can I only buy bitcoins off those people who are selling them for AUD or can I buy off the general exchange and the amount is just converted? Because when I change the currency on the Mt. Gox home page it shows the amount of bitcoins traded and for AUD it is small, but for USD it is massive, tens of thousands. Is this because more people buy using USD or because most people selling are only excepting USD for the exchange?

Cheers,
Phatefolder

I see there is a thread on here for how to make a 100% secure wallet, but wouldn't having your bitcoins on Mt Gox just be an easy and secure way to have your bitcoins? That would also mean you could (theoretically) liquify your bitcoins easily if you wanted to. Am I missing something here? Are the hacks that go through Mt Gox every now and then undermining it as a secure wallet?

Cheers,
Phatefolder

Thanks, that was an awesome explanation, I think it would be best to get AUD on my account and we're trading up against the US so can buy more bitcoins. Thanks again guys you're awesome!

Hi,

Just starting out in the Bitcoin game and I've got a questions about funding certain currency types to your Mt. Gox account, I know you can have multiple currency wallets in one Mt. Gox account.

If I fund X amount of AUD to my Mt. Gox account, can I then only purchase bitcoins on the exchange for sellers willing to accept AUD? Or can I buy coins from anyone at all on the exchange and the currency is converted to whatever currency their wallet is set at? If the first case were true, then would it make more sense to fund your account in USD as the majority of transactions are happening using this currency, then just transfer the bitcoins out of Mt. Gox into your local currency and take the conversion hit there?

Thanks guys.

Phatefolder

P.S. Crypto X Change is offering zero fees on AUD cash deposits over $1000. Has anyone tried this and can Crypto X Change be trusted with > AUD $1000?