Silk Road forums

Discussion => Security => Topic started by: nola on July 24, 2012, 05:21 pm

Title: Dwolla to MtGox substitute
Post by: nola on July 24, 2012, 05:21 pm
Some exchanges don't take Dwolla anymore and MtGox requires ID now.  There are so many posts and random services out there for buying bitcoins.  what really is the best method that doesn't rape you on fees and is still secure and reliable?  bitinstant doesn't allow for larger amounts so that's out.

follow-up question, if i have money in dwolla, where is best place besides MtGox to buy BTC via dwolla?  again, bitinstant only allows small amounts and i'm talking larger $ values.  is dwolla just useless now?  who else takes it?

Thanks.
Title: Re: Dwolla to MtGox substitute
Post by: digitbh on July 24, 2012, 05:33 pm
How large are your transfers? BitInstant is still the cheapest way to go when using Dwolla, it's only a 2% commission, and that's all you're hit for.

Send it directly to a bitcoin wallet. You can do $500 per transfer, $4000 per day. That's only $40 taken from you for fees in a day. That's not bad.

$4000 per day, and in one week you could move $28,000 to bitcoins, $560 in fees. Pretty damn nice. You may not be able to move it as fast as you want, but it's the easiest, cheapest, and safest. You just have to learn to be patient.