There has to be a better way (getting USD to BTC)

[CurbsideProphet]

Bear with me, I took about a year hiatus from Bitcoin so I'm probably a little unfamiliar with some of the changes but dear God the amount of hoops I have to jump through to get $$$ to Gox is ridiculous.

This has been my journey over the last few WEEKS.

1.  Already had an established Dwolla account linked to my bank from prior fundings to MtGox.
2.  Try to fund, MtGox says they need to verify me.  Send a picture ID and another form of verification.  Alright, anti-money laundering I get it, that's fine.  Send requested information.  About a week to week and a half later am finally verified.
3.  Start transfer from my bank to Dwolla on Jan 18th.  Funds will not clear until the 25th, SEVEN days later.  Okay there's a US holiday in there but still, way too long for an ACH.
4.  Finally today, weeks into the process, I'm ready to send funds to MtGox via Dwolla (which is giving me a disclaimer that it may take up to 24hrs to credit).  Oh nope sorry, now Dwolla needs a copy of my photo ID because the receiving party has requested it, blah blah blah.  Seriously?  I just spent over a week verifying myself with them and now I have to do it again?  Another 1-2 business days.

Please tell me there are better options.  I don't want to do an international wire due to the high fees.  I realize once I'm verified by everyone on the planet the process will be shorter but it's still going to take about a week between Dwolla releasing funds and then MtGox verifying.  I can't do the local bitcoins thing, no one in my area.  I also don't think I can do the option where you walk into select stores and pay via cash (none of the stores look familiar to me so I don't think there are any in the state).

[RodeoX]

Have you tried bitinstant.com ?

[CurbsideProphet]

Have you tried bitinstant.com ?

I looked at it but I don't really get how it speeds up the process.  In my case, I have funds in Dwolla that want to go to MtGox, how is their transfer faster?  Do I still need to wait until Dwolla verifies my photo ID?  The cash deposit to BTC looks interesting but it doesn't say what the exchange rate is and I honestly don't know how reputable these guys are.

[deadweasel]

Have you tried bitinstant.com ?

I looked at it but I don't really get how it speeds up the process.  In my case, I have funds in Dwolla that want to go to MtGox, how is their transfer faster?  Do I still need to wait until Dwolla verifies my photo ID?  The cash deposit to BTC looks interesting but it doesn't say what the exchange rate is and I honestly don't know how reputable these guys are.

Do not use DWOLLA.

http://codinginmysleep.com/dwolla-begins-suspensions/

[CurbsideProphet]

Have you tried bitinstant.com ?

I looked at it but I don't really get how it speeds up the process.  In my case, I have funds in Dwolla that want to go to MtGox, how is their transfer faster?  Do I still need to wait until Dwolla verifies my photo ID?  The cash deposit to BTC looks interesting but it doesn't say what the exchange rate is and I honestly don't know how reputable these guys are.

Do not use DWOLLA.

http://codinginmysleep.com/dwolla-begins-suspensions/

Thanks for the article.  Interesting.  Okay then we're back at square one.  What are the alternate options?

[justusranvier]

If you want to buy bitcoins right now take cash out of an ATM and use BitInstant.

If you are willing to wait 5 business days for an ACH withdrawal to clear then use Coinbase.

I haven't found a good solution for recurring periodic buys yet. I'd like to be able to buy bitcoins via ACH deposit but nobody offers that yet. Setting up an ING checking account in order to move dollars into Bitfloor might come close but there aren't many bitcoins for sale over there.

[pc]

I've used Coinbase and it's pretty simple. Once your bank account is confirmed, you can lock in a price immediately, even though it takes several days for the ACH to clear. They have relatively low daily limits (I assume since ACH can be reversed in some cases), but as long as it's to buy a few coins and not to make a major market move I think it's the way to go for now.

[Ploo]

Try to establish local contacts. In the UK there are plenty of people who will meet face to face and buy your coins for cash, the advantage of which is being independent of electronic banking. Although they'll take a hefty fee for their troubles.

Maybe you could try find out if similar circumstances exist where you live. Bitcoin needs local exchange, see if you can be a part of it.

[nebulus]

BitInstant's pretty fast. I did not even have to wait.

[bitcoinscratcher]

You could try Bitcoin-otc Also, there is this new site, I know nothing about it though.

[Stephen Gornick]

I've used Coinbase and it's pretty simple. Once your bank account is confirmed, you can lock in a price immediately, even though it takes several days for the ACH to clear.

Yup, at just a 1% fee there is no way that is as inexpensive and easy.  Since the price is locked in at the time you place the order, the delays until the ACH clears should be less of a problem ... unless you are needing to make the purchase for immediate spending.   The $100 USD per-day limit will be increased to 100 BTC per-day after 30 days have passed since your first purchase and a few other steps are completed:
 - http://blog.coinbase.com/post/40233239772/you-can-now-buy-up-to-100-btc-per-day-with-a-verified

[Elwar]

Bitfloor allows for ING P2P as well as direct deposit into several major banks.

[Herodes]

What we want to do is to make bitcoin something you don't need to exchange for fiat cash eventually, then all these worries will be gone. Dealing with financial companies is a pain in the butt. But once you're verified, things should go a little smoother.

[CurbsideProphet]

Thanks for the suggestions, I figured there were other options out there just didn't know which were the best.  

As for the local exchange, I'll look into it, maybe I can start something going.

[RodeoX]

Have you tried bitinstant.com ?

I looked at it but I don't really get how it speeds up the process.  In my case, I have funds in Dwolla that want to go to MtGox, how is their transfer faster?  Do I still need to wait until Dwolla verifies my photo ID?  The cash deposit to BTC looks interesting but it doesn't say what the exchange rate is and I honestly don't know how reputable these guys are.

It has not always worked perfectly for everyone, but I have never waited more than 15mins. or shown any identification.

[notme]

Have you tried bitinstant.com ?

I looked at it but I don't really get how it speeds up the process.  In my case, I have funds in Dwolla that want to go to MtGox, how is their transfer faster?  Do I still need to wait until Dwolla verifies my photo ID?  The cash deposit to BTC looks interesting but it doesn't say what the exchange rate is and I honestly don't know how reputable these guys are.

Insisting on Dwolla and MtGox is how you ensure there is no better way.

There are lots of other options that are faster, cheaper, or both.

Personally, I prefer bitfloor since I can quickly send them p2p payments from my ING checking account. (BTW if you want an ING account, PM me your email and I'll send you an invite so we both get a free bonus).  Bitinstant is good too, although a bit pricey.  localbitcoins.com is great if there is someone near you who is willing to sell.

[DannyHamilton]

. . . I also don't think I can do the option where you walk into select stores and pay via cash (none of the stores look familiar to me so I don't think there are any in the state).

As far as I know, there is no CVS in Alaska, Colorado, Idaho, Oregon, South Dakota, Utah, Washington, or Wyoming, but what state does someone have to live in for Walmart to not look familiar?

[notme]

. . . I also don't think I can do the option where you walk into select stores and pay via cash (none of the stores look familiar to me so I don't think there are any in the state).

As far as I know, there is no CVS in Alaska, Colorado, Idaho, Oregon, South Dakota, Utah, Washington, or Wyoming, but what state does someone have to live in for Walmart to not look familiar?

Maybe he doesn't live in a U.S. state?

[CurbsideProphet]

Have you tried bitinstant.com ?

I looked at it but I don't really get how it speeds up the process.  In my case, I have funds in Dwolla that want to go to MtGox, how is their transfer faster?  Do I still need to wait until Dwolla verifies my photo ID?  The cash deposit to BTC looks interesting but it doesn't say what the exchange rate is and I honestly don't know how reputable these guys are.

Insisting on Dwolla and MtGox is how you ensure there is no better way.

There are lots of other options that are faster, cheaper, or both.

Personally, I prefer bitfloor since I can quickly send them p2p payments from my ING checking account. (BTW if you want an ING account, PM me your email and I'll send you an invite so we both get a free bonus).  Bitinstant is good too, although a bit pricey.  localbitcoins.com is great if there is someone near you who is willing to sell.

I was never insisting on using Dwolla or MtGox, nor did I say there is "no better way."  The whole point of the thread was looking for alternate options.  And thanks for the bitfloor suggestion.  I already use a few online checking accounts, I'm not sure if I want to set up another but if I do, I'll PM you.

[CurbsideProphet]

. . . I also don't think I can do the option where you walk into select stores and pay via cash (none of the stores look familiar to me so I don't think there are any in the state).

As far as I know, there is no CVS in Alaska, Colorado, Idaho, Oregon, South Dakota, Utah, Washington, or Wyoming, but what state does someone have to live in for Walmart to not look familiar?

Yeah that was my mistake, I had looked at Bitinstant about a week ago and was going off memory.  I had forgotten about the Walmart option.