This page is a stub. Help by expanding it. MtGox is the most widely used bitcoin currency exchange market. It deals mainly in LRUSD. Historically, due to the way that MtGox works, it has a higher exchange volume than any market in the bitcoin economy. This is mainly because MtGox requires all traders to deposit balances with MtGox which in turn makes trading on the market instantaneous. MtGox is run by Jed.
MtGox takes a 0.65% commission fee from each party of successful trades through the market.
MtGox also operates as an eWallet service. It also offers ecommerce merchant services.
MtGox went online on July 18, 2010.
On October 10, 2010 MtGox announced that their PayPal account had been suspended as a result of a scammer using stolen Paypal accounts to transfer funds to MtGox. Fraudulent PayPal transactions and chargebacks were also reported by Bitcoin Market customers around this time. Mtgox switched from PayPal to Liberty Reserve as the main funding option as a result of this attack. Former PayPal customers still had the possibility to withdraw their USD using alternative methods.