How to Fund an Exchange.

StephenJH

There is more than 1 way to fund an exchange and someone who took a different and better path will surely follow this up. If you want to buy crypto-currency but feel funding an exchange you just learned about 3 days ago(with a service you never heard of) seems a little risky, you’re not alone. A few months back I decided the heck with it and bought a couple BTC with money I could afford to lose.

Today, my fav method is coinbase - > btc-e. This is not the cheapest method, it’s just my personal choice as I live in the USA and prefer hooking my bank account up to US based companies. It’s simple,

Need: bank account, coinbase.com account, btc-e.com account.

1. set up a http://coinbase.com account, connect your bank account(wait a few days)
2. buy bitcoin on a red candle ;) ( http://bitcoin.clarkmoody.com/ )
3. transfer that bitcoin to your wallet on http://btc-e.com (wait for the confirms)
4. buy FTC on a red candle(or a green candle, really any candle will do)

Another method I’ve used http://dwolla.com -> http://campbx.com -> Btc-e, while Coinbase went through “growing pains”.

portice

Coinbase has treated me well, just started the crypto game couple months ago. Used it to fund my sealswithclubs account. No problems depositing or withdrawling if you dont mind waiting 3-4 business days.

If you want the insta crack, you could fund through bitinstant.com and run to your local Walmart and pay the vig (fee)

StephenJH

Portice, yes http://bitinstant.com should have been referenced in the first post I’ll edit it. I’ve used them 2 times. Once was pretty quick, the other time http://mtgox.com was being ddos’d as I was ordering so the order got skewed and it took about 10 days to get the BTC.

However, their customer service was really great once they caught up to me and they honored the price at the time of the original purchase and the price had spiked in the meantime. They also gave me .3 BTC extra… no joke.

sheepson

Anyone interested in create a little ‘how-to’ for our new members?

I will add it then in the starter-kit!
I would love as many how-to’s on different ways to get money to and from an exchange.

Thanks.