What is the best way for a newbie to begin purchaing BTC's?

[TheOuterLimits]

Hi all!

Thank-you for reading this although I am sure the points have been covered many times before! 

1. How do I set up a BTC wallet and back it up?
2. Which trader is the best? MtGox, Intersango, other, I'm in the EU.
3. Is washing coins necessary? If so, how do you go about doing this?

Thank-you very much!

TOL

[VeeMiner]

Hi all!

Thank-you for reading this although I am sure the points have been covered many times before! 

1. How do I set up a BTC wallet and back it up?
2. Which trader is the best? MtGox, Intersango, other, I'm in the EU.
3. Is washing coins necessary? If so, how do you go about doing this?

Thank-you very much!

TOL

1. download the wallet from bitcoin.org, then optionally encrypt it and backup the wallet.dat to your email, flash drive and so on
2. MtGox is good, afaik, I have no experience with them though
3. it's not necessary

[swc1]

Thanks for the info !

[50BTC.com]

1. Do it like VeeMiner said, but don't forget to encrypt your wallet.
2. You can find list of major exchanges here.
3. Why you think what you need to wash the coins? What does it mean?

[BadBear]

I'm going to suggest staying away from exchanges, and using something like Tangible Cryptography's service, https://bitcointalk.org/index.php?topic=87094

There is also Bitinstant, they've made it pretty easy.

[RB26DETT]

is there a way to purchase BTC with paypal?
be it a alternative/additional verification process or ?

[TheOuterLimits]

Thank-you for all the help so far. Very informative stuff!

Like some of the other members have mentioned is there a way to purchase BTC's with PayPal?

Also what is Bitinstant?

Thanks for all the help! 

[jwzguy]

If you're inside the US, the easiest/cheapest way is TangibleCryptography, as linked above, or Bitfloor.com

Both accept cash deposits at various banks (WF, Chase, BOA) that are credited close to instantly.

Tangible uses MtGox's exchange rate at time of deposit, sometimes with a discount. Bitfloor is a full exchange with an order book.

Both have excellent customer service.

Other services may charge exorbitant fees, so read the fine print before buying anywhere else.

[TheOuterLimits]

If you're inside the US, the easiest/cheapest way is TangibleCryptography, as linked above, or Bitfloor.com

Both accept cash deposits at various banks (WF, Chase, BOA) that are credited close to instantly.

Tangible uses MtGox's exchange rate at time of deposit, sometimes with a discount. Bitfloor is a full exchange with an order book.

Both have excellent customer service.

Other services may charge exorbitant fees, so read the fine print before buying anywhere else.

Cheers jwzguy!

I am considering TC's service, it sounds great, but I'm not sure if I want to exchange as much as $500.

I am in the UK. Are there any good options here?

Thanks! 

[jwzguy]

If you're inside the US, the easiest/cheapest way is TangibleCryptography, as linked above, or Bitfloor.com

Both accept cash deposits at various banks (WF, Chase, BOA) that are credited close to instantly.

Tangible uses MtGox's exchange rate at time of deposit, sometimes with a discount. Bitfloor is a full exchange with an order book.

Both have excellent customer service.

Other services may charge exorbitant fees, so read the fine print before buying anywhere else.

Cheers jwzguy!

I am considering TC's service, it sounds great, but I'm not sure if I want to exchange as much as $500.

I am in the UK. Are there any good options here?

Thanks! 

I hear very good things about Bitstamp.net - let me know how it goes if you try them out...

[vagab]

is there a way to purchase BTC with paypal?
be it a alternative/additional verification process or ?

the way i understand it, it is going a be difficult to find somebody willing to accept Paypal and send yo bitcoins (PP can be reversed while BTC cannot).