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Author Topic: New to Bitcoins  (Read 637 times)
ketz4
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January 09, 2012, 02:58:31 AM
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Hello bitcointalk,

I just recently heard about Bitcoins and I have become very interested in this. I read alot about bitcoins, what they are, how they are made, traded, etc. I still have some questions though. One of them bieng:

How would I be able to use the cash I have in my wallet to purchase bitcoins?

The processes I read about this were very vague and left me confused. I saw a post on here where someone said I would be able to put money on a bank account, wire it to Dwolla or Liberty Reserve, and then purchase bitcoins on MtGox. Would this method work?
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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nmat
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January 09, 2012, 03:19:46 AM
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How would I be able to use the cash I have in my wallet to purchase bitcoins?

The processes I read about this were very vague and left me confused. I saw a post on here where someone said I would be able to put money on a bank account, wire it to Dwolla or Liberty Reserve, and then purchase bitcoins on MtGox. Would this method work?


Yes. It takes a while, but it works and it is almost free. Alternatively, you can use bitinstant and make a cash deposit at several bank locations (you'll have to pay a fee though).
ketz4
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January 09, 2012, 03:28:20 AM
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Thank you!

Would you be able to give me a rough estimate on how long that would take?
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January 09, 2012, 03:48:20 AM
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Thank you!

Would you be able to give me a rough estimate on how long that would take?

Probably around 30 minutes, maybe less.
ketz4
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January 09, 2012, 03:50:28 AM
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oh alright. That doesnt seem too long.
Thanks agian though. Cant wait to get started.
bytecoins
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January 09, 2012, 08:58:34 PM
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You can also consider depositing the cash straight at a Chase bank and getting the account funded on Mtgox to buy some.
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