Silk Road forums
Market => Rumor mill => Topic started by: Fluidx on October 09, 2012, 03:03 am
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Hi there,
I was wondering what is the best way to acquire bitcoins and transfer them directly to your silk road account. I am looking for a larger amount and don't feel very comfortable going with a vendor on silk road through something such as western union. I would prefer to do a bank transfer through a legitimate website as it doesn't require a fee? (right?) Is it safe to use mtgox.com and then transfer directly to SR account? The other problem I have with them is that they say that the bank transfer will take 2-5 days to complete.
Thanks
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bitinstant is #1. if i remember right they only have a 4% fee. so if you do 1000$ you get around 960?
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If you need your BTCs right away then Bitinstant.com is the way to go. You will have to pay a 4.5 percent fee, but you will have BTCs in under an hour. If you don't want to pay any fees (at least very minimal fees) then you should ACH transfer from your bank acount into Dwolla.com. Then use your Dwolla acount to fund an acount on Mtgox.com to purchase BTCs. This method is the cheapest but it will take 3-5 days.
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There is no longer a delay in transferring into Mt. Gox if you use dwolla. They just released a new feature a month or so ago where they lend you the money during the usual 3-5 day wait period. It costs 3 bucks a month. Mt. Gox is by far the cheapest and most transparent place to exchange your dollars into bitcoins. All fees are .5% I believe and the more you exchange the more it goes down.
As for doing transfers directly from there into SR, that's really up to you. If you are relatively small time buyer then I don't see why that would be a problem. I believe SR tumbles all the coins that get sent to your incoming bitcoin address.