MtGox? Safe?

[l008com]

I am a newbie so I'm still not familiar with this whole system. But mtgox seems to be the primary website for buying and selling bitcoins. Is it safe? They want an awful lot of very personal information about you before you sign up. It's a little scary.

[libertine]

im new too but so far ive learned you dont need to use mtgox there are other exchanges, you can even buy locally for cash from localbitcoins.com. just do a google search and there are many places to buy n sell.

[Garbaek]

try btc-e.com as an alternative, or as suggested, try googling local bitcoin trade

[GJS]

try btc-e.com as an alternative, or as suggested, try googling local bitcoin trade

btc-e.com seems shady to me...

[Pouncer]

I'll trust the Russians over the Japs... anytime

[whereismymoney13]

try btc-e.com as an alternative, or as suggested, try googling local bitcoin trade

btc-e.com seems shady to me...

After Gox suspended trading last week and bitfloor collapsed today, all exchanges are pretty much shady.


OP, if Gox goes down then I think BTC goes right along with it. Just my $0.02.

[n3xus]

i don't think if mt.gox goes down it will be that big of a problem, as long as not to many users loose bitcoins if it happens. There are plenty of other exchanges and online stores that except bitcoins. There is even an exchange in Canada

[l008com]

It's too bad they except them. If only they would accept them.

[johnny5]

i've had to deal with Mt. Gox' customer "service" department a few times, and each time it was an awful experience.  Stay away from them, if possible.

[whereismymoney13]

i don't think if mt.gox goes down it will be that big of a problem, as long as not to many users loose bitcoins if it happens. There are plenty of other exchanges and online stores that except bitcoins. There is even an exchange in Canada

I thought I read an article somewhere on the interwebs that said Gox processes around 70% of all BTC transactions. If true, yeah, this would be the end of BTC. Why would they suspend trading last week?

Assuming a large amount of coins are not lost and other exchanges step in and pick up the slack, the fall of Gox would certainly mean a significant price drop for BTC.

[zrn]

GOX is only one exchange i trust. Many people trust in btc-e. I've got some experience with russian forex brokers - they often try to rob your money...

[johnny5]

btc-e.com has treated me very well. ymmv.

[Serjster]

It would not be the end of BitCoin... people are too pessimistic... if, and that's a very unlikely if, Mt.Gx Goes down, BitStamp and others will pick up the slack...

[ohmannomma]

no. bitfloor just closed down..

[Buddytronic]

Mtgox is ok, but I installed their API bit coin shopping cart on my Magento site, and it doesn't quite work, and very limited instructions are available - like most of the bitcoin world at the moment.

We take Bitcoins now, but still waiting for a real customer, and still have been unable to put through a test order as of yet.

[Tucker]

Mtgox is a crap shoot right now.

[TeqnoHaxor]

btc-e.com has treated me very well. ymmv.

Their FAQ states the following:

Are there any fees involved when using BTC-e?

BTC-e charges a 0.2% fee on each transaction carried out by users on the website. This transaction may vary and may be different for each individual account. Specific job openings will be posted but we are always interested in hearing from you.

Does this mean they take 0.2% of my USD when selling? And 0.2% of my BTC when buying? That's atrocious. Mt.Gox fees are killing me at 0.6% but at least selling is free.

[l008com]

btc-e.com has treated me very well. ymmv.

Their FAQ states the following:

Are there any fees involved when using BTC-e?

BTC-e charges a 0.2% fee on each transaction carried out by users on the website. This transaction may vary and may be different for each individual account. Specific job openings will be posted but we are always interested in hearing from you.

Does this mean they take 0.2% of my USD when selling? And 0.2% of my BTC when buying? That's atrocious. Mt.Gox fees are killing me at 0.6% but at least selling is free.

Call me crazy but, isn't 0.2% + 0.2% still less than 0.6%?
And less than 1%, just in general, seems pretty low? Compared to paypal's fees for regular old transactions. 0.2% seems awfully low honestly.

[Zadet]

BitStamp always comes high in recommendations.

[mLiberty]

MtGox is safe to use. It might not be the best exchange and it has been the subject of a lot of negative attention recently, mainly because of its inability to cope with DDoS. But I would trust MtGox with my money and personal information; it is a legitimate company and has been around for a very long time.