Sending Money to MtGox requires that i'll have a Bitcoin Wallet?

[benyben123456]

Hi.

- Want to buy Bitcoins via Mt.Gox (don't know an easier way).
- Opened an account there.
- In order to buy, it asks me to send money via bank transfer (im outside the US).

I am about to do this from my bank, but what happens once I do? Are they gonna "store" my money or do I must first have a wallet?

I don't have a wallet.

Thanks!

[mjc]

The money will go into an account for that currency.  Then you will have place either a Market Order or Limit order to buy the Bitcoins.  The Bitcoins will end up in a wallet assigned to you at MT Gox.  From there you can send the coins to any address you like.

[BTCisthefuture]

whatever you deposit into your mtgox account and whatever gets traded there will be in your mtgox account.  you dont need a wallet for that.

i would recommend a wallet though, theres no reason not to have one. even if you never use it for some reason. i'm also a firm believe of not keeping all your assests in one place.  i dont know all the details of it but i know mtgox has been hacked before and funds stolen, so id recommend spreading your assests out into multiple exchanges/wallets/bank etc etc.   thats just me though.

[benyben123456]

I do appreciate your answers! Thanks.


You said that it's better to spread the risk. Which other sites / stock exchange exists?

Thanks