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Author Topic: Transferring AUS $ to bitcoins?  (Read 569 times)
Ez
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January 23, 2013, 01:27:14 PM
 #1

Hello there!
I wanna buy some coins but I'm having trouble finding a good exchange to use... Any aussies out there with some experience? Are there alternatives to mtgox or is that pretty much the only option for us at the moment?
Thanks

- Ez
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mOomOo
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January 23, 2013, 11:46:52 PM
 #2

I haven't looked in awhile... but be careful using small exchanges.  I use to us WBX but that folded about a year ago and the funds that were sitting in there are still in limbo!
Logik
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January 24, 2013, 01:18:52 AM
 #3

There are a few third party processors here, but they all charge large commissions.

IMO the ID verification at MtGox is a pain in the ass, but the low commission makes up for it.

www.bitinnovate.com is one i've used twice recently, the commission is 7.9% and they delivery within the hour.


The thing is if you are speculating, then you lose the commission, you lose about 40c on the exchange rate, so your Bitcoins have to increase in value by 7.9% + $0.4 before you make any money!


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Stapleddiet
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January 24, 2013, 02:08:44 AM
 #4

I am an Aussie and use Gox for over 18mths now, for me the risk of using the smaller exchanges was to great to risk my cash with sorry to say. I have not had a problem with them and any time I sent a ticker off about some question I needed answering them it was answered in reasonable time. I withdrew 10k cash a couple of weeks back and it took about 4 working days.

It would be great to have more exchanges in more countries though.
nobbynobbynoob
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January 24, 2013, 02:10:35 AM
 #5

Yeah, Mt Gox is always an option. Then there's spendbitcoins.com and omnicoins.com but no idea how efficient they are.

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Ez
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January 24, 2013, 06:48:57 AM
 #6


thanks for your responses, everyone.

There are a few third party processors here, but they all charge large commissions.

IMO the ID verification at MtGox is a pain in the ass, but the low commission makes up for it.

www.bitinnovate.com is one i've used twice recently, the commission is 7.9% and they delivery within the hour.


The thing is if you are speculating, then you lose the commission, you lose about 40c on the exchange rate, so your Bitcoins have to increase in value by 7.9% + $0.4 before you make any money!




The ID verification thing was what put me off... kinda eerks me. I went to bite the bullet just now but they've upped the security again so you're supposed to provide proof of residency as well as photo ID.
:-(

Maybe bitinnovate is the go...
Ez
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May 07, 2013, 12:59:23 PM
 #7

I ended up using Bitpiggy, the transaction was a success and having bought in at $20 a bitcoin I'm pretty stoked.
Thanks for the help everyone.
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