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Author Topic: Easy Method of Converting USD to BTC  (Read 978 times)
hect0r
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June 25, 2011, 12:14:50 AM
 #1

Can someone link me to a site that can quickly and safely convert USD to BTC?

Thanks
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ShaggyB (BitCoinWorldMarket)
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June 25, 2011, 12:33:30 AM
 #2

Dwolla.com is probably your best bet. See here the options tradehill.com has to get your USD in so you can buy bitcoin.
https://www.tradehill.com/DepositOverview/

Finally a major marketplace to shop with Bitcoin! Over 10,000 products.    www.BitCoinWorldMarket.com
muscles
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June 28, 2011, 06:00:10 AM
 #3

Dwolla -> TradeHill.

Sign up for Tradehil will the link in my signature. I'll get an incentive and you'll get 10% off fyour transactions fees for life.

Selling these things:
Wireless Cable Modem Gateway: SURFboard SBG900 DOCSIS 2.0: http://forum.bitcoin.org/index.php?topic=24518.0 - 3.33BTC
12V DC Car Wet/Dry Vacuum: http://forum.bitcoin.org/index.php?topic=24521.0 - 0.6BTC
Flip Cam HD Mino 4GB: http://forum.bitcoin.org/index.php?topic=26628.0
jprockbelly
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June 28, 2011, 06:07:13 AM
 #4

Can non US people put money into TradeHill? I'm from Australia and that site tellls me depositing AUD is not supported?

Also isn't $10 a bit steep for just for a bank transfer?

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striker11111111
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June 28, 2011, 06:13:29 AM
 #5

bitmarket.eu is a super easy way to get into it. If you have a PayPal account and en eBay account with some feedback, you can get started within 2 days.

It's a system that uses p2p paypal exchanges based on trust that is backed by some kind of reputation (i.e. eBay, OTC irc, etc). For now, the seller has to eat any paypal fees so a great chance for newbies to get into the game.

Dwolla is a pain in the ass, so is liberty reserve especially for non-americans.
tvbcof
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June 28, 2011, 06:31:20 AM
 #6

I had the same question some days ago.  As soon as I got bitcoind to compile I needed some coin to play around with.  Here is _my_ experience....I'm guessing that everyone else's vary.

bitcoinfacet or whatever it was was down.  Someone was giving away .01 for an SMS.  I could not resist.

I bought one on e-bay.  That worked for me, but the price was high.

I wanted more, and wanted to drain my paypal account at the same time.  bitmarket.eu worked for that.  I'm a long term e-bay user with a good record.  Seems these guys actually check this manually.  They were pretty swamped with Mt. Gox being down and all, but got back to me pretty quickly and I got an account.  I think that that exchange is more dangerous for sellers than buyers.  I've never been a seller of anything nor interested in screwing people via pay-pal so I am not sure the mechanics.  I had good luck with this exchange so far.  Got my paypal funds down and ended up with enough bitcoin to work out the mechanics of keeping a savings account.

I wanted enough more to sign up with a different kind of exchange.  Got hooked up with Tradehill and sent them some money via wire on the way in to work this morning.  By afternoon it was in.  I snagged a couple bitcoin to see how the system worked and how fast the bitcoin got back to me.  They say up to 24 hours, but it took only one or two in my test case.  Now I've got some larger buy orders in in hopes of catching the market on a decline.  If not, I'll cancel and set it higher.

Good luck with things!

Vaulter98c
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June 28, 2011, 08:25:42 AM
 #7

Just signed up there at bitmarket.eu, seems really nice for low end users to jump on and make a start for themselves, plus it uses PayPal (YAY!!!), and ontop of that there are no fees from them, win-win-win situation
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June 28, 2011, 08:32:04 AM
 #8

Nice.  I'll check out bitmarket.eu since I have 5,000+ 100% positive eBay/PayPal transactions.

Dwolla is easy to use (easier and cheaper than PayPal) in my experience as well.

BTC: 1ABEAV4QCJCGCURyxUUiYmxX8uhRvXboJg    MRY: M9dnmfbpzGS1y3EXqf2x7Kgjfh8VTTDoYt
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029xue
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June 28, 2011, 08:47:19 AM
 #9

Try bitcoin7.com.
It's easy and to fast to trade on it: https://www.bitcoin7.com/?ref=6142

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Zoomer
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June 28, 2011, 12:01:02 PM
 #10

Does anyone know of a place that takes credit cards directly? It'll be much easier.
BitQuestr (BitCoinWorldMarket)
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June 28, 2011, 01:53:36 PM
 #11

Due to the possibility of chargebacks no one accepts creditcards.

It is the same with any other currency, you can't buy Yen with a credit card. ATM's will allow you to do a cash advance in a different currency but we don't have any Bitcoin ATM's yet.

The fastest way to buy bitcoin is to find someone local to trade in cash. Or buy a moneypak and learn the very complicated GPG authentication and go to #bitcoin-otc and trade there.

The safest way really is set up a dwolla account and go to tradehill or mtgox. (about 5 business days)
AA666
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June 28, 2011, 02:05:46 PM
 #12

I sent my LR funds to bitcoin7 and TradeHill few days ago at about same time.
I got my funds at bitcoin7 within about 20 minutes.
On TradeHill I got nothing at the moment.
Sent them mail and waiting for answer for hours.
mizike29
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June 28, 2011, 10:23:17 PM
 #13

THe safest and easiest method for a newbie like myself seems to be to use DWOLLA and then you can send your money to Tradehill or MTGOX.  It took me 3 days for the money to go from my bank to Dwolla then a day to get to MTGOX and Tradehilll.  THen dwolla is linked to your bank account and you can add funds just by clicking on a link to MTGOX which seems really easy.  Might be other faster ways but this seems to be the one that makes the most sense and is widely used.

Alec
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June 29, 2011, 12:17:07 AM
 #14

THe safest and easiest method for a newbie like myself seems to be to use DWOLLA and then you can send your money to Tradehill or MTGOX.  It took me 3 days for the money to go from my bank to Dwolla then a day to get to MTGOX and Tradehilll.  THen dwolla is linked to your bank account and you can add funds just by clicking on a link to MTGOX which seems really easy.  Might be other faster ways but this seems to be the one that makes the most sense and is widely used.

Thanks for the heads up! Smiley
mizike29
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June 29, 2011, 02:24:02 AM
 #15

And I change my statement, it actually only took a couple minutes for the money to go from dwolla to MTGOX, I thought it would be a day, but right after I sent it with dwolla it was there in MTGOX.  It did take 3 days to go from my bank to dwolla though.  I just bought 12 more bitcoins for 16 bux on MTGOX with the money I transferred.  Seems to be the best way though.

chuckypalumbo
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June 29, 2011, 02:27:51 AM
 #16

Can someone link me to a site that can quickly and safely convert USD to BTC?

Thanks

Bitcoin7 is a little nicer user interface than Tradehill, I have a referral link in my signature below.

If you're looking to sign up for an exchange try Bitcoin7 or Tradehill, referral codes are listed below. Sign up for Tradehill and get 10% off of every trade you ever make.

https://www.bitcoin7.com/?ref=6383

http://www.tradehill.com/?r=TH-R15532
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