Silk Road forums
Market => Product requests => Topic started by: ChicoChick on December 05, 2011, 07:35 pm
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I have googled and read things on the forum but it is still complicated. If I want to do a transaction today, where can I get bitcoins today? How do I pay for them? Paypal? Credit card? Also, I heard about people "daytrading" with bitcoins. What is that all about?
Thanks
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People seem to like get-bitcoin.com. You can deposit money into their bank account and the turn around is apparently very quick compared to other services. I myself use the #bitcoin-otc IRC channel (this is what I think you meant to by day-trading). These are the most knowledgeable and dedicated people when in comes to the Bitcoin market. Somewhat of a learning curve to understand how to authenticate with the server but after that it's pretty basic. Be aware that if you're a new user and don't have much feedback chances are you're going to be charged a rather high rate for the BTC. I can decide on what I want from SR and within 2 hours have the BTC going into my SR account this way.
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the best way depends on what country and currency youll be dealing in so to give you the best advice we will need to know what country you want to buy from or at least the currency youre working in.
as for day trading thats a bit different its more like the stock markets, btc value changes sporadically throughout the day let alone over the week so day trading is simply the practice of keeping some btc and cash in your account at an exchange or a few and buying low and selling high to make a profit, trading between exchanges etc, its essentially gambling though as no one knows which way btc will actually go, back when btc were worth more you could make a decent amount in just a day doing this sort of stuff but now you need to be trading in huge volumes and there isnt really the demand at the mo so its not as profitable as it once was