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Support => Technical support => Topic started by: wardomondo69 on April 02, 2012, 07:26 pm

Title: how to buy bitcoins??
Post by: wardomondo69 on April 02, 2012, 07:26 pm
need to know how to buy bitcoins any suggestions please
Title: Re: how to buy bitcoins??
Post by: kidx on April 02, 2012, 07:47 pm
Go to Mtgox.com and sign up for an account. Here, you can buy and trade Bitcoins at the closest exchange rate that this currency is going to get to a "market rate." I've found that if it's under 4.9, buy, if its over 5.0, you may want to wait for the exchange rate to go down.

Don't log into Mtgox from Tor, or any other proxy, because they don't like that. Also, don't fuck around with them and give them fake names, because they could freeze your account and require that you become verified by sending them copies of your id, and if you can't any account information associated with the fake account will be flagged.

You can transfer funds into Mtgox via money wire, but those can be expensive and a pain. Another way to transfer funds into Mtgox is via Dwolla. To do this, go to Dwolla.com and open up a Dwolla account.

You will need to become verified with Dwolla before you can send any meaningful amount of money. This requires that you send them a scan of your picture id, and that you confirm your bank account. Dwolla will make 2 small deposits into your account, and you will have to either tell them what the amounts are or log into Dwolla and enter in the amounts, and your bank account will be confirmed. As long as you can present a valid ID to them, you should be all set.

If you use Dwolla to fund Mtgox, it can be confusing at first, but after once or twice you'll get the hang of it. Basically, transfer funds into Dwolla through the "deposit money" feature. This takes forever, and it really pisses me off, because it shouldn't take as long as it does, but Dwolla has to make money, and one of the ways they do that is through putting your money into a short term money market account to earn revenue. So, expect your deposits to take one week (5 business days) and if a holiday falls in that week, longer.

Once your deposit has cleared Dwolla, you now need to send the funds to Mtgox. This can be nerve racking, but you have to just trust it. Go to your Mtgox account, select funding options and then select Dwolla. It will give you instructions on how to fund via Dwolla, but just click on the 10 digit number next to where it says (click here to send funds directly). It will then send you to a screen where the system either recognizes you or where you log into Dwolla. This is actually a Dwolla page, and they are partnered up to Mtgox to make this easier. Follow the instructions, which basically have you clicking a couple boxes and putting in how much you want to send, and you will have sent funds from Dwolla to Mtgox. It will take a few minutes for this to show up.

If you screw up the Dwolla to Mtgox transfer, don't worry, you don't lose the money, it will either take a bit longer for the funds to show up, or the transaction will simply be kicked back.

Now, you can buy these elusive Bitcoins. Boom Boom, uhhhh. Yaaaay! Aren't you special?