AutoMtGox converts bitcoins received at a single wallet address automatically to USDollars and transfers to your bank.
AutoMtGox started as a personal project, then expanded word-of-mouth as a private service to friends and friends-of-friends. On 8/14/11, it opened to the public.
How It Works
AutoMtGox works in connection with your accounts on MtGox, Dwolla (or other banking service), Once you are setup on these services, all you do is send bitcoins to your MtGox wallet address and the AutoMtGox service gets to work converting your bitcoins to cash (based on rules you define) then transfers US Dollars to your banking service (when amount reaches a threshold).
- You can point your miners to send bitcoins to this address for automatic conversion to cash at regular intervals.
- You can accept bitcoins as payment/donation on your website or service at this address and convert payments to cash.
- You can send bitcoins from your personal wallet to this address whenever you need cash.