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Author Topic: Now that Dwolla is gone, what is the cheapest way in US to get $ in/out of MtGox  (Read 2600 times)
mgio
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May 14, 2013, 09:17:26 PM
 #1

Dwolla was great, only $0.25 for a transfer and only took 3 or 4 business days.

What our other options and how much do they cost.
I know OKPay costs at least 1%. I think bank wires are about $50 or so and you can't do them online.

What do people in the US use. Post here what you use, how much it costs, how long it takes, and how easy it is (i.e. can you do it online).
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May 14, 2013, 09:19:25 PM
 #2

donkey's
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May 14, 2013, 09:20:03 PM
 #3

homing sharks with lasers!

ok
DeathAndTaxes
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May 14, 2013, 09:21:05 PM
 #4

Some banks allow sending bank wires online.  I know for a fact that Bank Of America, USAA, and PNC Bank allow online bank wires.

If you are looking for a MtGox alternative ... Bitcoins Direct.
Timeframe: same day
Cost:  0.89% + your bank's wire fees
Minimum Purchase: $1,000
https://bitcointalk.org/index.php?topic=87094.0
mgio
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May 14, 2013, 09:27:01 PM
 #5

Some banks allow sending bank wires online.  I know for a fact that Bank Of America, USAA, and PNC Bank allow online bank wires.

If you are looking for a MtGox alternative ... Bitcoins Direct.
Timeframe: same day
Cost:  0.89% + your bank's wire fees
Minimum Purchase: $1,000
https://bitcointalk.org/index.php?topic=87094.0


I'll have to inquire about online transfer with my bank (Citizens Bank). It doesn't seem obvious from their web page though. I only can transfer to accounts that have a routing and account number or certain select brokerages. No way I am going back to B of F'in A.

Bitcoins Direct doesn't seem like a good deal at all. Especially if it costs $50 to wire money and it is more expensive than MtGox. I'm trying out CampBX and I just created an account and the site froze at the login screen for 5 minutes trying to logon. Not a good sign.
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May 14, 2013, 09:29:46 PM
 #6


Bitcoins Direct doesn't seem like a good deal at all. Especially if it costs $50 to wire money and it is more expensive than MtGox. I'm trying out CampBX and I just created an account and the site froze at the login screen for 5 minutes trying to logon. Not a good sign.

I still have my Camp BX account from 2 years, it looks like a good idea to still utilize Dwolla.

Sappers clear the way
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May 14, 2013, 09:33:05 PM
 #7

This isn't the cheapest but I'll put it out there since it's fast.  Ally offers international wires for $20, that's the cheapest I've seen.


1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
mgio
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May 14, 2013, 09:35:47 PM
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Bitcoins Direct doesn't seem like a good deal at all. Especially if it costs $50 to wire money and it is more expensive than MtGox. I'm trying out CampBX and I just created an account and the site froze at the login screen for 5 minutes trying to logon. Not a good sign.

I still have my Camp BX account from 2 years, it looks like a good idea to still utilize Dwolla.

Camp BX doesn't seem to have the liquidity for the size of the trades (in the 100's of coins range) I want to make though. It seems like I'm stuck with gox for now.
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May 14, 2013, 09:36:14 PM
 #9

Bitcoins Direct doesn't seem like a good deal at all. Especially if it costs $50 to wire money and it is more expensive than MtGox. I'm trying out CampBX and I just created an account and the site froze at the login screen for 5 minutes trying to logon. Not a good sign.

A domestic bank (US to US) wire shouldn't cost more than ~$20 although the fee does vary from bank to bank.
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May 14, 2013, 09:37:13 PM
 #10

Coinbase & CampBx


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dhenson
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May 14, 2013, 09:43:00 PM
 #11

Coinbase I believe is 1% fee.  You can buy and lock in a price but the transfer takes ~6 days.  I've had them deliver after the price has gone up so you can ignore the conspiracy theorists on this board.  They do however cancel purchases from accounts that they detect as being 'high risk' which I can only imagine are those obviously buying to turn around and spend on SR.

Initially your daily max is 10 coins, but after 30 days of using their service they will bump it to 50 coins/day.  They upped my max after 15 days and 7-8 successful purchases.
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May 14, 2013, 10:05:52 PM
 #12

Bump
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May 14, 2013, 10:25:55 PM
 #13

Coinbase I believe is 1% fee.  You can buy and lock in a price but the transfer takes ~6 days.  I've had them deliver after the price has gone up so you can ignore the conspiracy theorists on this board.  They do however cancel purchases from accounts that they detect as being 'high risk' which I can only imagine are those obviously buying to turn around and spend on SR.

Initially your daily max is 10 coins, but after 30 days of using their service they will bump it to 50 coins/day.  They upped my max after 15 days and 7-8 successful purchases.

Yup.  You've got three possibilities:  Cheaper, faster, and more secure.  You can have two.

Coinbase is cheaper and more secure:  they ACH out of your bank account to buy bitcoin, and then you can transfer the BTC to Gox.

There's cheaper and faster I guess, but they're much less secure.

Keep in mind that the word 'secure' does not imply safe from governments - only safer from the rest of the world of bad actors: hackers, cons, etc.

Dankedan: price seems low, time to sell I think...
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May 14, 2013, 10:50:49 PM
 #14

Precious metals!

AmagiMetals.com is a global eCommerce precious metals retailer and advocates for free markets, free choice, financial responsibility, and sound money.
Join us on: Facebook - Twitter - Google Plus
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May 14, 2013, 11:00:11 PM
 #15

CampBx to Dwolla.
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May 14, 2013, 11:03:52 PM
 #16

Bank wires can be really cheap depending on your bank/CU. To get money into BFX, I'd pay $20 to my CU. To get money from BFX, I'd pay $20 to BFX. Compared to .5-.6% from Gox and $.25 from Dwolla, it's usually cheaper and faster to wire than Dwolla. My CU doesn't do online wires, though, which is why I was still using Dwolla.

ETA: BFX fees range from .1-.5 depending on where the order's routed, but BFX (.1%) orders are usually tighter than Gox's, so it often ends up being .1% or .25% @ BSTMP.
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May 14, 2013, 11:18:05 PM
 #17

What our other options

This is becoming an XY problem.  

You describe the problem in moving money to Mt. Gox.   But you probably don't really want money at Mt. Gox, you want bitcoins.  [Edit: Unless you are an arb trader or market timer, then you truly want to move USDs.]

Does that help to solve your problem?

Unichange.me

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May 14, 2013, 11:23:48 PM
 #18

Dwolla was great....

I see nothing on the Dwolla site to indicate that it's gone.
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