[ANN] 700,000 Cash Deposit Locations in Brazil, Russia, USA - BitInstant

[drrussellshane]

Ok. I'm trying to do this "ZipZap" payment stuff and it says I will receive ~$48.00 worth of BTC for a $50 order, but then when I begin to jump through ZipZap's hoops, I am told that I must pay $53.95, instead of the $50 I had expected to pay from earlier.

This seems pretty damn sketchy that I can't even be informed from the outset what charges I will incur.

I was going to complete the deal, but how do I know when I get to the cashier, they won't ask me for $60?

Buying bitcoins at walmart *sounds* nice, but I've found that in practice, it's actually quite a pain in the ass.

[Gareth Nelson]

Ok. I'm trying to do this "ZipZap" payment stuff and it says I will receive ~$48.00 worth of BTC for a $50 order, but then when I begin to jump through ZipZap's hoops, I am told that I must pay $53.95, instead of the $50 I had expected to pay from earlier.

This seems pretty damn sketchy that I can't even be informed from the outset what charges I will incur.

I was going to complete the deal, but how do I know when I get to the cashier, they won't ask me for $60?

Buying bitcoins at walmart *sounds* nice, but I've found that in practice, it's actually quite a pain in the ass.

The deposit slip you get from zipzap has the final amount you will need to pay - sadly we do not know in advance what the fees from zipzap will be and so can only tell you what we ask for from zipzap.

[drrussellshane]

Ok. I'm trying to do this "ZipZap" payment stuff and it says I will receive ~$48.00 worth of BTC for a $50 order, but then when I begin to jump through ZipZap's hoops, I am told that I must pay $53.95, instead of the $50 I had expected to pay from earlier.

This seems pretty damn sketchy that I can't even be informed from the outset what charges I will incur.

I was going to complete the deal, but how do I know when I get to the cashier, they won't ask me for $60?

Buying bitcoins at walmart *sounds* nice, but I've found that in practice, it's actually quite a pain in the ass.

The deposit slip you get from zipzap has the final amount you will need to pay - sadly we do not know in advance what the fees from zipzap will be and so can only tell you what we ask for from zipzap.

I see. That is unfortunate, as it is confusing, misleading, and a nuisance to customers and potential customers.

So, when I try to make a $50 order, I must pay a total of $53.95 to receive $47.005 in bitcoins?

Does BitInstant accept money orders directly, so that customers might be able to cut down the spread some by avoiding the ZipZap charge?

[Yankee (BitInstant)]

Ok. I'm trying to do this "ZipZap" payment stuff and it says I will receive ~$48.00 worth of BTC for a $50 order, but then when I begin to jump through ZipZap's hoops, I am told that I must pay $53.95, instead of the $50 I had expected to pay from earlier.

This seems pretty damn sketchy that I can't even be informed from the outset what charges I will incur.

I was going to complete the deal, but how do I know when I get to the cashier, they won't ask me for $60?

Buying bitcoins at walmart *sounds* nice, but I've found that in practice, it's actually quite a pain in the ass.

The deposit slip you get from zipzap has the final amount you will need to pay - sadly we do not know in advance what the fees from zipzap will be and so can only tell you what we ask for from zipzap.

I see. That is unfortunate, as it is confusing, misleading, and a nuisance to customers and potential customers.

So, when I try to make a $50 order, I must pay a total of $53.95 to receive $47.005 in bitcoins?

Does BitInstant accept money orders directly, so that customers might be able to cut down the spread some by avoiding the ZipZap charge?

We are working to make it less confusing and other options to get bitcoins cheaper and faster, while keeping your transactions safe and secure.

If you PM me, we can work the best way for you to buy Bitcoin!

Don't forget, 90% of cash deposits are completed and paid within 30 minutes. For this high level of automation in addition to the high-risk nature, we pay higher processing fee's as well to bring you these premium services to buy Bitcoin.

Stay tuned as we have a new features and announcements coming out very soon that will rock the Bitcoin world.

-Charlie

[BCB]

If my rudimentary math is correct you are effectively paying 7.48 per BTC

[Yankee (BitInstant)]

If my rudimentary math is correct you are effectively paying 7.48 per BTC

The more you deposit the less the price per BTC because your talking about a $3.95 flat fee as opposed to a % so of course for smaller amounts its less

[BCB]

If my rudimentary math is correct you are effectively paying 7.48 per BTC

The more you deposit the less the price per BTC because your talking about a $3.95 flat fee as opposed to a % so of course for smaller amounts its less

Thanks.  But the Bitinstant also increases with the amount purchased, correct?

[bit-joker]

I checked your website to buy bitcoins;

Interested in getting 500 USD worth of bitcoins, I see 3.99% commission. I'll receive 480 USD (so 20 USD commission).
When I click NEXT, it takes me to ZipZap. Now instead of 992 BRL (500 USD), it says 1059 BRL (533 USD).

So, to buy 480 USD worth of bitcoins, do I have to pay 53 USD? In that case, 3.99% in reality is 10%.

[Gladamas]

I checked your website to buy bitcoins;

Interested in getting 500 USD worth of bitcoins, I see 3.99% commission. I'll receive 480 USD (so 20 USD commission).
When I click NEXT, it takes me to ZipZap. Now instead of 992 BRL (500 USD), it says 1059 BRL (533 USD).

So, to buy 480 USD worth of bitcoins, do I have to pay 53 USD? In that case, 3.99% in reality is 10%.

Bitinstant charges the 3.99% fee, then ZipZap (an unaffiliated company) charges an additional fee on top of that.

[Yankee (BitInstant)]

I checked your website to buy bitcoins;

Interested in getting 500 USD worth of bitcoins, I see 3.99% commission. I'll receive 480 USD (so 20 USD commission).
When I click NEXT, it takes me to ZipZap. Now instead of 992 BRL (500 USD), it says 1059 BRL (533 USD).

So, to buy 480 USD worth of bitcoins, do I have to pay 53 USD? In that case, 3.99% in reality is 10%.

Bitinstant charges the 3.99% fee, then ZipZap (an unaffiliated company) charges an additional fee on top of that.

Exactly.

If my rudimentary math is correct you are effectively paying 7.48 per BTC

The more you deposit the less the price per BTC because your talking about a $3.95 flat fee as opposed to a % so of course for smaller amounts its less

Thanks.  But the Bitinstant also increases with the amount purchased, correct?

No.

Moneygram, 7-11, Walmart, ect. are 3.99% straight thru.

[Portnoy]

Canada will be added within weeks, and other countries will follow...

It's been quite a while... any update on anything for Canada? 

[Yankee (BitInstant)]

Canada will be added within weeks, and other countries will follow...

It's been quite a while... any update on anything for Canada? 

Heh, Im actually sitting with them right now in San Francisco!

We're at the last steps here, just need to open up a bank account but integration is done.

[Portnoy]

Canada will be added within weeks, and other countries will follow...

It's been quite a while... any update on anything for Canada? 

Heh, Im actually sitting with them right now in San Francisco!

We're at the last steps here, just need to open up a bank account but integration is done.

Them? 

Okay, thanks for the update. 

[Yankee (BitInstant)]

Canada will be added within weeks, and other countries will follow...

It's been quite a while... any update on anything for Canada? 

Heh, Im actually sitting with them right now in San Francisco!

We're at the last steps here, just need to open up a bank account but integration is done.

Them? 

Okay, thanks for the update. 

Moneygram!

[vom]

I just used BitInstant last night and am impressed.  The ZipZap fee caught me off guard as well - but it's a flat fee so that helps a bit.  I'm not exaggerating when I say this - as the cashier (CVS) tore the MoneyGram receipt to hand it to me - my phone went off (email) with my BitInstant confirmation.  Very cool.

My transaction was MoneyGram -> Bitcoin address.  I didn't see a tx id or anything on my status.  Is this something that could be added ?  Maybe a link to block explorer with the tx or something ?  FYI I did NOT have any issues with receiving the BTC - by the time I drove home from CVS I had it in my wallet.

[Yankee (BitInstant)]

I just used BitInstant last night and am impressed.  The ZipZap fee caught me off guard as well - but it's a flat fee so that helps a bit.  I'm not exaggerating when I say this - as the cashier (CVS) tore the MoneyGram receipt to hand it to me - my phone went off (email) with my BitInstant confirmation.  Very cool.

My transaction was MoneyGram -> Bitcoin address.  I didn't see a tx id or anything on my status.  Is this something that could be added ?  Maybe a link to block explorer with the tx or something ?  FYI I did NOT have any issues with receiving the BTC - by the time I drove home from CVS I had it in my wallet.

Thanks for the nice review!

Good suggestion- We will add a link to blockchain and a TX ID in the emails

Thanks

[Vernon715]

Can you provide a page on your website where you list where you stand bringing this service to each country?

[Yankee (BitInstant)]

Can you provide a page on your website where you list where you stand bringing this service to each country?

Thats a super idea!

[Vernon715]

Can you provide a page on your website where you list where you stand bringing this service to each country?

Thats a super idea!

Yeah, I live in the US, but I think that it would be interesting to know what developments are in the pipeline.

I know that you have posted some of this information on this thread, but it would be nice to be able to be able to look at one official source for this information.

Thanks

[cbeast]

Walmart fail. Instead of the small amounts I usually deposit, this time I wanted to make a larger deposit. Bitinstant.com has a $500 limit so I broke it up into multiple orders. It would mean getting charged the $3.95 ZipZap fee multiple times, but that's not a big deal. I printed the PDFs out and they had the codes and payments in the amount of $503.95. Well, they didn't work because it doesn't take anything over $500. Apparently the limit is $496.05. I don't know what to do now? Can I use the same deposit forms and just change the amount submitted or do I need to create new deposit account numbers?

Also, the Walmart clerk still requires ID and signature on a MoneyGram slip, though I'm hoping to convince them otherwise. It would help if you included step by stem instructions for ZipZap because they didn't even know what that is.