Buying bitcoins

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Revision as of 19:29, 7 April 2011 by M4v3R (talk | contribs) (Added BitMarket.eu)
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One issue currently facing a newcomer to bitcoin is, how do I get some? While there is the bitcoin faucet that can get you started with a small fraction of a coin, when getting larger amounts the user faces an abundance of choice. This page will cut through the clutter, and help direct you to the right exchanger for your needs.

Large amounts

For large amounts of bitcoin (USD 1000 or more), you probably would get the best rate if you deposit funds via bank wire, ACH, Euro bank transfer, or via Liberty Reserve into a major exchange.

Exchange Type Adding Funds Withdrawing Funds eWallet Notes
MtGox Market BTC
Liberty Reserve USD
USD (bank wire)
USD (ACH)
EUR (SEPA bank wire)
BTC
Liberty Reserve USD
USD (ACH Direct Deposit)
EUR (SEPA bank wire)
Yes Restrictions and limits on withdrawals.
Britcoin Market BTC
GBP (bank deposit)
PokerStars USD
BTC
GBP (bank deposit)
PokerStars USD
Yes
Bitcoin Central Market BTC
Liberty Reserve USD
Liberty Reserve EUR
EUR (bank deposit)
Pecunix
BTC
Liberty Reserve USD
Liberty Reserve EUR
Yes
BitcoinUSA Fixed Rate BTC
USD (ACH Debit)
BTC
USD (ACH Direct Deposit)
Yes Requires physical mailing address verification, photo ID.
Btcex Market BTC
USD (international wire)
EUR (bank transfer)
JPY (bank transfer)
RUS (RUB, Yandex, WebMoney)
BTC
USD (international wire)
EUR (bank transfer)
Yes USD handled in Switzerland.
EUR through Finland (SEPA)
RUS (RUB, Yandex, WebMoney).
BitMarket.eu Market BTC BTC Yes Sending money is handled off-site for now.

Small amounts

For smaller amounts, the options are limited due to bank transfer fees, conversion fees and transaction size restrictions. Options include:

Service Type Payment Method Notes
CoinPal Fixed Rate USD (PayPal) For purchases of small lots of bitcoins
Britcoin Market GBP (bank deposit) No charge for GBP deposits.
Bitcoin Market Market USD (PayPal)
USD (Liberty Reserve)
USD (MoneyBookers)
GAU (Pecunix)
Varies (person to person)
BitMarket.eu Market EUR
GBP
PLN (Polish złoty)
Varies (person to person)
Bitcoin 4 Cash Fixed Rate Cash in the mail Send USD or CAD. Canada mailing address.
Bitcoin2Cash Fixed Rate Cash in the mail U.S. mailing address.
Bitcoin Morpheus Fixed Rate PayPal,
Cash, check or money order through the mail
7-day delay for PayPal transactions.
U.S. mailing address for cash transactions.
bitcoin.local Directory Varies (person to person)
BitcoinUSD Order Book Varies (person to person) Escrow service available.
#bitcoin-otc Order Book Varies (person to person) IRC trading marketplace will usually have people willing to deal for small and larger amounts using various payment methods, including PayPal, Dwolla, Linden Dollars, etc.

eWallet

Some services hold your bitcoins in an eWallet and provide funding methods.

See Also