Silk Road forums
Market => Rumor mill => Topic started by: Arrov123 on April 21, 2012, 11:44 pm
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What is the cheapest MP to BTC vendor?
The three main players seem to be as follows:
-BTC Buddy
-BTC King
-Sugar Mama
My only previous experience is with BTC Buddy; out of $200, he took $50 for himself, which was ridiculous and outrageous. I would prefer to avoid doing business with him again.
How fare the other MP to BTC vendors?
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I've had good luck with BTCPal. From what I can tell, he is the cheapest of the well-established MP to BTC vendors. BTCBuddy has great reviews, but he usually charges around an extra $1.50 or so per BTC that you receive. So, if the MtGox rate is $5 per BTC, he is selling them for $6.50 each, which is a pretty substantial difference. BTCKing has a $15 minimum fee, but I've heard he's very fast in getting people their coins. SugarMama seems very nice, but her fees are 17% for $100 MPs and 15% for $200 MPs, which is pretty steep.
BTCPal charges a 10% fee for $100 MP orders, but he uses the current MtGox rates. The first time I used him, his profile warned there would be a slight delay because he had 14 orders in his queue. It took about 48 hours to get my coins, which is still pretty fast, and he even sent me a PM thanking me for the order and assuring me that next time would be faster. The subsequent transactions I've had with him have all taken <24hrs and I've consistently been satisfied with the amount of BTC I receive. This week, I ended up with $94.00 from a $100MP, which is about the best you're going to do with BTC vendors on here.
Using MP to BTC vendors is definitely not the best bang for your buck, but I have yet to master the other, more cost effective methods. I've been very pleased with BTCPal, so I see no reason to try out the other vendors at the moment and I definitely recommend him. If you REALLY need BTC within a few hours for some kind of emergency, then maybe it'd be worth using BTCBuddy or BTCKing, as they seem to be slightly quicker, but it hasn't been worth it for me.
Hope this helps!
TL;DR: My vote is for BTCPal.
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I would maybe be wary of btcpal, his communication is poor at best.. will keep you waiting for days
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Sugar Mama is the best! She always exchanges MoneyPaks promptly with a very low rate :) I trust her for all my big $$$$$ exchanges.
Don't use BTC Buddy! He scammed me out of $500 on my last exchange >:( Be careful
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Go to Virwox and use your creditcard to buy some lindens, then trade them there for BTC and transfer those to SR or, if you're smart, to your own bitcoin wallet, then another couple addresses you own, then to a bitcoin randomizer, then to SR, or something. It's about as secure as what you're doing already, and you'll get a better rate that way. No waiting, either. Until someone puts up a site that lets you buy bitcoins directly, it's also the easiest way to do it.
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Whatever you do just don't give your MP code to someone who messages you on these forums. The village idiot perky is always on the the prowl
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I would recommend Sugar Mama esp. for new BTC buyers,very simple,add her listing to cart put the MP code and how much and thats it,coin will show to your account in 1-2 days(i've heard even quicker sometimes). plus she respond quick to any questions.