Mt Gox deposit from Australia

[LD-ZOGY8]

I want to take advantage of the price difference between Mt Gox and Cryptoxchange. However I can't figure out how to get money into Gox from Australia quickly and with low fees. Can anyone point me in the right direction?

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[LD-ZOGY8]

Or at least somewhere where I can easily get bitcoins at the current Gox price; would prefer not having to do a direct transaction with an individual, as I want to do it reliably at any time.

[CIYAM]

Unfortunately I think you are going to have to do an international (or wire) transfer (yes it sucks trying to buy bitcoins with AUD).

Also bear in mind that even though it looks as though there is a good arbitrage opportunity between the exchange prices the volume at Crypto is very low (so you probably aren't likely to end up making much for your troubles).

[LD-ZOGY8]

Mostly yes, but for example in the last 24 hours I sold at ~$14 on Crypto, and for a short time the Gox price was ~$10. (The greenback and aussie dollar are at about parity)

[CIYAM]

Sure - the gap can be quite large - but unfortunately a wire transfer will take at least two days (and up to five days if over the weekend).

If there was a way to obtain a large number of bitcoins for AUD (without paying more than 1% above Mt. Gox rates and without having to trust some basically anonymous forum member or pay wire transfer fees or wait for days) then I would be very interested myself.

[LD-ZOGY8]

If not directly for BTC at gox prices, perhaps there is a way to buy Gox codes that is more friendly to Aussies?

[CIYAM]

Haven't heard anyone offering that but it is worthwhile to check https://www.spendbitcoins.com/buy/ (although not at the moment) as sometimes they will sell BTC at close to the current Mt. Gox price (when they are wanting to reduce their BTC supply).

Note that this option requires you to deposit money in person at a bank branch but is fairly quick (same day).