Deposit and withdraw

[yapolex]

Hello, I read about this service and that as it was gaining so much traction people were finding that just depositing money the value of it would increase when compared to the original currency deposited. I like that. But, can I deposit an amount and then wait two weeks, if the amount has increased and then transfer it to my original currency and into my bank account and then have more money?

Or if money is deposited it remains as a BitCoin?

Basically stocks.

Thanks!

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[Stephen Gornick]

Or if money is deposited it remains as a BitCoin?

Some exchanges, Mt. Gox being the largest, operate as market exchanges.  So when you transfer via a bank transaction those funds are added to your exchange account.  But then you would need to convert those funds to bitcoin.   You do not need to remove those bitcoins, and at a later time you can sell those bitcoins and withdraw the proceeds as a bank transaction if you want.

Basically stocks.

So yes, ... an exchanger like Mt. Gox works basically just like an online broker does for stocks.

And just like with stocks, holding bitcoins exposes you to the risk of the value dropping as well.

[mjc]

You should be able to buy and sell stocks, to the extent that you can its called liquidity.  I guess if you are buying penny stocks you might not be able to sell them.

However, there are a number of ways to get your funds out of BitCoin.  the easiest that I have found it www.coinbase.com.
http://bitcoinsbs.wordpress.com/2013/03/05/coinbase-easiest-way-to-sell-bitcoins-for-cash/

[kaoD]

And you have to take into account exchange fees and that you probably have to pay taxes when selling BTC for government currency.

[imbladednow]

Hello, I read about this service and that as it was gaining so much traction people were finding that just depositing money the value of it would increase when compared to the original currency deposited. I like that.

Did you hear "If something sounds too good to be true, it is" ?

You can make a lot of money this way, but always remember the higher expected % yearly gains, the higher expected risk of loss associated.

[Doryx]

This is the same as any currency exchange. Some people change their USD into Euros because they are traveling, while others do it to trade currency. I to like it when bitcoins are worth more then I paid for them but but just remember that then can also decrease in value. There is no guarantee that they will only increase in price.

[Stephen Gornick]

This is the same as any currency exchange. Some people change their USD into Euros because they are traveling,

Heh, but there's a difference in volatility.  Euros might change 2% up or down in a week and that might be a big deal.   Bitcoin can change that much over your lunch hour.