Last updated: 5 months, 2 weeks ago

 

Buy bitcoins from MtGox

 

WEBSITE: https://mtgox.com/

 

RATES: 0.6% per trade, discounts available for heavy users

 

LIMITS: None

 

 

Warning

June 19th 2011: Hacked for approximately $8.75M [source]

 

How to buy bitcoins with MtGox

Bank Wire to USD to bitcoin

With MtGox you can use your bank account to wire money to MtGox's bank account.

You will need to:

• Create an account (20m)
• Wait for account verification (1-3 days)
• Wire money to MtGox's account (?)
• Convert your USD to bitcoins by using the MtGox order book (0.6% fee)
• Send your bitcoins to your bitcoin address (1hr)

In other words, "Once you have an account and When you go to the "Trade section" of the site and enter in Buy order for the amount of bitcoins you want to Buy after that, once there is a nearest Sell order, your bitcoin buy order will be automatically processed and the Bitcoins will be added to your Mt.Gox BTC Wallet. Later you can withdraw the Bitcoins by sending them to your wallet address from the Mt.Gox Withdrawal Funding Options. If the orders match, they go through instantly ,Once some funds are deposited into your Mt.Gox wallet. Then after you see that your funds has reached in then its time to trade in your own currency into Bitcoin." --MtGox Support

You can also check the following link which has the step by step process and should be helpful for you to proceed:

https://support.mtgox.com/entries/20294238-step-3-buying-or-selling-bitcoins

 

How long should customers expect to wait to get their coins?

If you already have an account, expect this to take 3-7 days. If you do not, it will take 4-10 days.

"When withdrawing or depositing bitcoins into your Mt.Gox account there may occasionally be a delay (1~24 hours) depending on network congestion, your internet connection speed and the time required to get 6 confirmations on the network. If you're sending to your computer's wallet, it's good practice to keep your bitcoin client running so it can download the block chain. For those that may not know the block chain is the complete history of all transactions made on the bitcoin network, and as such it can take some time to update and download the most current block and see the bitcoins in your wallet.If you aren't seeing the funds after either withdrawing/sending to Mt. Gox from your bitcoin program, please wait 24 hours before contacting us. If your transfer has still not occurred within 48 hours you can let us know so we can check further." --MtGox Support

 

What is the MAXIMUM time you need to deliver on an order?

"Bitcoin withdrawals do take 24 hours or more to reflect. But for trades, if the orders match, they go through instantly so you will have to wait until there is a nearest sell order.

The first step is to deposit some funds into your Mt.Gox wallet. Then after you see that your funds has reached in then its time to trade in your own currency into Bitcoin." --MtGox Support

 

Support

"Our customer support works 24 hours 6 days a week"

 

Email

You can email MtGox at support@mtgox.com

 

Zendesk Knowledge Base

https://support.mtgox.com

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