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Only top voted, non community-wiki answers of a minimum length are eligible. Questions Tags Users Badges Unanswered. Tag Info users hot new synonyms. Hot answers tagged wire-transfers day week month year all. Does it make sense to use BitCoin to transfer money to yourself internationally?
While in the US last year, I sent money to myself in Europe that way once, because it was significantly cheaper than using the legacy banking system. I think it mostly comes down to whether you have easy access to a Bitcoin exchange from your bank account in the US and what amounts you are trying to transfer.
It also depends on how urgently you need the The system the Somalis and many others have been using to send money around the world for centuries is called hawala. Monetary futurist Jon Matonis calls Bitcoin a potential replacement for hawala.
Right now, I suspect that Somalis would be hard-pressed to use Bitcoin for personal remittances, owing to the bitcoin charts camp bx to dwollas of local exchangers and Bitcoin-accepting Mike Gogulski 2. Bitcoin charts camp bx to dwollas there a bitcoin exchange accepting SEPA transfers?
You see their current fee structure provides SEPA transfer: Bitcoin charts camp bx to dwollas Rowe 5, 2 24 Hawala sometimes referred to as hundi involves a trust relationship between the two hawaldars. The hawalder who receives the funds in Minneapolis, for example is a trusted partner to the other hawalder who disburses the funds in Somalia, for example.
With Bitcoin, this relationship between hawalders becomes unnecessary. These hawalders simply become To organize a wire from Europe to the US and bitcoin charts camp bx to dwollas using bitcoin without fees, you can: How hard is it to transfer money between Bitcoin exchanges? That's exactly the service https: Transferring bitcoins is usually free. You just need to wait around 1 hour for confirmations from the network. If the exchange doesn't support You might be able to lower this if you use a company like Usforex or Xoom, which I believe take around a To make an international money transfer using bitcoins you need to figure out 2 things: I find this resource useful: You want to open an account on the local exchange because Tagir Yamilov 66 6.
How do I transfer funds from India to an exchange? Then some fees charged by Mt. Gox exchange to receive the funds I believe, but a relatively small amount. This is why there are some juicy arbitrage opportunities between the exchanges when the prices are volatile -- few traders keep much cash idle in different exchanges so when the price rises as the result of a whale at Mt.
Gox, exchange rates at the other exchanges might lag until either new funds are transferred or the sellers wake up and readjust their Which Bitcoin exchanges allow anyone to bitcoin charts camp bx to dwollas your account by a bank transfer? Coinbase is currently the only service allowing bitcoin purchases to be paid for with a transfer bitcoin charts camp bx to dwollas a bank using the ACH network directly. I'm unaware of any exchanges whose MtGox is in the middle of a court case and TradeHill is changing banks which should be solved in a couple of weeks.
Here are some other options: Intersango, like Gary Rowe wrote. I'm Software engineering major, Somali-American. I am working on online wallet which will be an alternative for sending money to Somalia. The website will be functional by the end of march 20 Thanks to eWallets, one needs very little access to the internet to operate on the Bitcoin network. Provided you trust those, it should be as easy as operating PayPal.
The main problem though is getting Bitcoins in Somalia, how stable the Bitcoin value is, and how much the fees are. There are no exchanges supporting anything but the major currencies, so How long do MtGox withdrawals take?
I requested a transfer on July 22 and still haven't received it yet. There was a bounty offered for people to prove that they've received a wire in USD from Mt. Gox from the moment in which they announced they had resumed withdrawals. Only one user claimed it and he requested his wire on July 3 which was Bitcoin charts camp bx to dwollas 4 on Japan time which is Bitcoin charts camp bx to dwollas.
How bitcoin charts camp bx to dwollas I withdraw dollars from Mt Gox? Create an account there and do your homework. They have made the process rather straight forward once you are verified. I would suggest buying a small fraction of one BTC to get I know Intersango does as well. Steven Roose 8, 7 29 Can I easily use Bitcoin as a inexpensive way to transfer my money into another currency?
You'll pay probably pay around 0. For me it was something I contacted another bank and was reassured that any wire transfer from a Russian resident to any person or company could be made without supporting documents if it is under USD or equivalent. As for the reason of the payment it could be filled with something like "transfer of personal funds" Edit: However, the so called currency control, which is an How do I transfer bitcoins into a United Kingdom bank account?
The factors that matter for any cash-out decision are: Where are you located country? What type of cash are you looking to receive? Specifically for cash-out to PayPal, options include: How long for wire transfer from MtGox to Australian Bank?
We are currently processing withdrawals requested 5 weeks ago. Choosing bitcoin exchanges [closed]. It depends where you live, what currency you want to trade in and where your bank account is domiciled. I live in the U. For me, localbitcoins in GBP has been the best solution. You hit the nail on the head my friend However for this loss in premium, you can be guaranteed to receive a deposit in two weeks or less in most cases. However the volume on Gox is higher I Frankenmint 4 Do dollars reach MtGox through other channels than Dwolla?
Yes, you can transfer cash to Mt. Gox using a service like BitInstant. URSAY 2 9. Take a look at beta bitinstant at https: Could be possible indicator. Buy bitcoins online and by cash listings in India There seems to be two traders selling bitcoins online in India with two different payment options: SWIFT bank transfer https: Mikko Ohtamaa 2, 9 Place your order details and submit.
As soon as your order is matched, a trade will be executed and you will be sent the trade details. Which exchanges still accept USD wire transfers? Dwolla is only for this in the U. As far as exchanges that accept wire transfers directly, there are many, including: Bitcoin Stack Exchange works best with JavaScript enabled.
