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January 07, 2014, 10:54:22 PM |
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The main disadvantages of PayPal are the fees, and the fact that vendors charge more because, as has been already said, the possibility that you will say you never received them and initiate a chargeback.
Unfortunately, several banks and currency transfer firms are making it more difficult to transfer funds to cryptocurrency exchanges (probably because they are protecting their business model). Unless you are a well-stocked miner you need to inject some fiat into the web, and most cost-effective way is to make an EFT through your bank. This leaves footprints and is not particularly cheap, so you need to get some economies of scale, and you will need to go through some extensive ID processes with the exchange. So start with the exchange and work backwards.
I've used BitStamp and BTC-e; both worked. BitStamp upgraded their processes which took me a while to sort out; BTC-e were slightly easier. If you are in the US, it will probably be cheaper to use BTC-e; Europe will probably be BitStamp.
You probably need to transfer a couple of thousand US to minimise proportional costs, so make d**n sure you have done your due diligence!
Good luck
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