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Author Topic: Cheapest and Fastest method using Bank Transfer/Wire to purchase BTC?  (Read 866 times)
boosblock
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July 08, 2012, 12:28:09 AM
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I did some cursory research and was told to go through dwolla.  Signed up there but wasnt thrilled with the fact I needed to provide SSN.  I understand divulging my identity is probably a requirement when using a bank account.  Thats fine.  I dont feel secure giving my SSN to a company I found out about 10 min ago.

Please note, i'm also looking for something with low fees as I intend to purchase bit coins frequently. 

Thanks in advance.

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Koooooj
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July 08, 2012, 07:00:27 AM
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Also interested.  I've had an account with Dwolla for months, to cash out my Mt Gox sales, but recently wanted to move USD back into bitcoins in order to invest in Pirate (through Bitcoin max).  Despite having a verified account on both Mt Gox and Dwolla, and having provided my SSN to Dwolla, they blocked the transaction, since it had been less than 30 days since the first deposit from my bank account.... never mind that I was looking to use money that had been cleared from my bank account--it's not like I could have spent money that I hadn't given them already.  Never mind that any fraud I could have fruitlessly attempted could be easily traced to me since both companies have a copy of my driver's licence and address.  My suggestion is to not use Dwolla.  Others may have had better experiences and are welcome to disagree, but my experience has been unacceptably poor.

More along the lines of answering your question, I have heard good things about bit instant.  Perhaps someone who has used that service can weigh in.  I'm considering using them soon. 
mystery2048
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July 08, 2012, 07:22:11 AM
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I like using Intersango, which is good if you deal with EUR/GBP/ETC

Important: https://bitcointalk.org/index.php?topic=92424.0;all

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boosblock
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July 08, 2012, 03:49:16 PM
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Also interested.  I've had an account with Dwolla for months, to cash out my Mt Gox sales, but recently wanted to move USD back into bitcoins in order to invest in Pirate (through Bitcoin max).  Despite having a verified account on both Mt Gox and Dwolla, and having provided my SSN to Dwolla, they blocked the transaction, since it had been less than 30 days since the first deposit from my bank account.... never mind that I was looking to use money that had been cleared from my bank account--it's not like I could have spent money that I hadn't given them already.  Never mind that any fraud I could have fruitlessly attempted could be easily traced to me since both companies have a copy of my driver's licence and address.  My suggestion is to not use Dwolla.  Others may have had better experiences and are welcome to disagree, but my experience has been unacceptably poor.

More along the lines of answering your question, I have heard good things about bit instant.  Perhaps someone who has used that service can weigh in.  I'm considering using them soon. 

Thanks for the reply. 

I too looked at bitinstant but their fees are pretty steep, starting at around 4% if i'm reading correctly.

Thoughts?
TangibleCryptography
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July 08, 2012, 03:58:27 PM
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If you are looking to buy a larger quantity of coins we have an open offer to sell our surplus coins.

https://bitcointalk.org/index.php?topic=87094
boosblock
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July 08, 2012, 04:08:21 PM
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If you are looking to buy a larger quantity of coins we have an open offer to sell our surplus coins.

https://bitcointalk.org/index.php?topic=87094

I am looking to start with a purchase of around $5000 USD equivalent; however, I am completely uninitiated and have no idea who i'm dealing with. 

can you allay my concerns?
TangibleCryptography
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July 08, 2012, 04:17:34 PM
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Plenty of feedback and endorsements here, here, here, and here.

Tangible Cryptography was started by bitcointalk member DeathAndTaxes who has been around quite a while.  The company is an LLC incorporated in Virginia and registered with the Virginia State Corporation Commission.
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July 08, 2012, 04:23:05 PM
 #8

I did some cursory research and was told to go through dwolla.  Signed up there but wasnt thrilled with the fact I needed to provide SSN.  I understand divulging my identity is probably a requirement when using a bank account.  Thats fine.  I dont feel secure giving my SSN to a company I found out about 10 min ago.

Please note, i'm also looking for something with low fees as I intend to purchase bit coins frequently. 

Thanks in advance.
Where are you?

The majority of fees with wire transfers are with your bank sending and the bank receiving. For the former talk to your bank. For receiving I looked at BTC-e at one point and their recieveing bank fee was 3% and no fee to bring it in to BTC-e.

SEPA in Europe is a cheap option.

I understand bitfloor is good for people in the US.

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boosblock
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July 08, 2012, 04:47:11 PM
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I did some cursory research and was told to go through dwolla.  Signed up there but wasnt thrilled with the fact I needed to provide SSN.  I understand divulging my identity is probably a requirement when using a bank account.  Thats fine.  I dont feel secure giving my SSN to a company I found out about 10 min ago.

Please note, i'm also looking for something with low fees as I intend to purchase bit coins frequently. 

Thanks in advance.
Where are you?

The majority of fees with wire transfers are with your bank sending and the bank receiving. For the former talk to your bank. For receiving I looked at BTC-e at one point and their recieveing bank fee was 3% and no fee to bring it in to BTC-e.

SEPA in Europe is a cheap option.

I understand bitfloor is good for people in the US.

I am located in the US
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