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Originally Posted by AJW
wanted to bump this thread. I heard of bitcoin just recently and it got me pretty curious as it actually shot up to $270 this month.
Im curious as how you guys are buying your bitcoins since they don't take CC or Paypal.. how are you guys funding? also if iv joined a broker/exchange.. do I need a "wallet"? cant I just leave the bitcoins in the broker account?
By the way.. I noticed a substantial price differences for places to buy BT aswell..
CAVIRTEX VS MT.GOX an example.. cavirtex would be trading at 126 while Mt.gox at 135 ??? Couldn't I just buy at cavirtex and send the BT over to my MTGOX account to sell.. = profit ?
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I might be able to help, I recently just bought some bitcoins on CaVirtEx. I had to verify account which took a couple of days, then I had to deposit my money from my bank via online payment and that took another 2 days or so.
I just converted my CAD to bitcoins and their just sitting in the exchange account, and I don't have a bitcoin wallet yet, cause I'm probably just gonna let it sit in there unless i plan on doing actual transactions with it.
Regarding the difference in prices, I've also have noticed a big difference too, one of the reasons is probably due to the substantial transaction fee of 3% each way that cavirtex takes (Which will come down depending on the volume of trades you do), you could profit from buying and selling at the 2 exchanges but there could be a day or 2 lag before they recognize the transfer from exchanges, which could be really risky. The reason I decided that Cavirtex was the better choice compared to MtGox was because they were based in Canada, and they seemed to be fairly reputable from doing research online, not to mention that Mtgox is getting ddos attacked almost 24/7.