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Author Topic: Are there fees to sell on MTGOX?  (Read 613 times)
nckrazze
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May 02, 2012, 07:14:18 AM
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Hi, I am new to the whole bitcoin scheme, but I was wondering if there are exchange fees for using the MTGOX.com service to sell or buy bitcoins. I currently have a 1.8 gigahash machine with 2 5850's and 3 5830's, but was just wondering what I should do with all the BTC once I start making a bit.

What else is there to do with bitcoins, other than claiming them for cash?

-Nick
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Creating a Bitcoin client that fully implements the network protocol is extremely difficult. Bitcoin-Qt is the only known safe implementation of a full node. Some other projects attempt to compete, but it is not recommended to use such software for anything serious. (Lightweight clients like Electrum and MultiBit are OK.)
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Stephen Gornick
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May 02, 2012, 07:37:06 AM
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I was wondering if there are exchange fees for using the MTGOX.com service to sell or buy bitcoins.

There are fees at nearly all exchanges.  The fee for selling will vary as higher volumes get a lower rate.  Starting out you are at 0.6%.  There may be additional fees when withdrawing those funds as wel..  For instance, the least method is Dwolla at $0.25 per transaction.  Wire transfers are much more expensive.

What else is there to do with bitcoins, other than claiming them for cash?

Here's a post that describes a ton of different ways people are using bitcoins:
 - http://bitcointalk.org/index.php?topic=78755.0

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May 02, 2012, 07:38:49 AM
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Here is the page at the mtgox website with their fees
https://mtgox.com/fee-schedule

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nckrazze
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May 02, 2012, 07:50:22 AM
 #4

I was wondering if there are exchange fees for using the MTGOX.com service to sell or buy bitcoins.

There are fees at nearly all exchanges.  The fee for selling will vary as higher volumes get a lower rate.  Starting out you are at 0.6%.  There may be additional fees when withdrawing those funds as wel..  For instance, the least method is Dwolla at $0.25 per transaction.  Wire transfers are much more expensive.

What else is there to do with bitcoins, other than claiming them for cash?

Here's a post that describes a ton of different ways people are using bitcoins:
 - http://bitcointalk.org/index.php?topic=78755.0

Thanks for the help, Stephen, I might consider spending the future BTC on investments in the market instead of exchanging!
Meni Rosenfeld
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May 02, 2012, 08:48:39 AM
 #5

What else is there to do with bitcoins, other than claiming them for cash?
Mandatory link: https://en.bitcoin.it/wiki/Trade.

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