Buying bitcoins

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Revision as of 06:44, 9 May 2011 by Noagendamarket (talk | contribs) (Small amounts)
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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 (Dwolla)
EUR (SEPA bank wire)
Liberty Reserve USD
USD (Dwolla [coming soon])
USD (ACH Direct Deposit)
EUR (SEPA bank wire)
Yes Restrictions and limits on withdrawals.
Britcoin Market BTC
GBP (bank deposit)
PokerStars USD
GBP (bank deposit)
PokerStars USD
Btcex Market BTC
USD (international wire)
EUR (bank transfer)
JPY (bank transfer)
RUS (RUB, Yandex, WebMoney)
USD (international wire)
EUR (bank transfer)
Yes USD handled in Switzerland.
EUR through Finland (SEPA)
RUS (RUB, Yandex, WebMoney).

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
BitcoinExchange Services Fixed Rate Cash USD, MoneyPak, LR, MoneyGram, Western Union, Pecunix Selling BTC/MtGoxUSD/LR - Will cash out to PayPal, MoneyGram, Western Union
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) Market EUR
PLN (Polish złoty)
Varies (person to person) Fixed Rate EUR (bank deposit) Bank transfer or cash deposits at OpenBank in Spain.
Bitomat Market PLN (bank deposit) No charges
Nanaimo Gold Fixed Rate USD (Liberty Reserve)
Western Union money transfer
Moneygram money transfer
Cash in the mail
LR <--> Bitcoin exchange is automated
For cash in the mail send USD, EUR, CAD, or GBP. Canada mailing address.
Bitcoin Brasil Fixed Rate BRL (Brazilian Real)
Cash exchange
Bitcoil Fixed Rate ILS (Israeli New Shekel) Payment via bank transfer.
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 Cash, check or money order through the mail U.S. mailing address for cash transactions.
bitcoin.local Directory Varies (person to person)
#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.
Ubitex In person exchange Varies (person to person)


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

See Also