Alright, I suffered multiple threads in these related categories, and wanted to get a general consences on what the easiest way to purchase LiteCoins was....I understand the reasoning of why you cannot purcahse any cryptocurrency using Paypal or your Bank, but what do you all do?
Do I take my money down to CVS and use that method or is there a easy (granted I know I probably have to go jumping through hoops regardless) way to do it from the comfort of my own computer?
Also.... since LiteCoin is not on Mt Gox....yet.... Is really the only way to buy LiteCoins, is somehow change your cash into BitCoins (that being the hard part) then go to like BTC-e.com and exchange your BitCoins for LiteCoins, then just let those LiteCoins sit in your BTC-e.com account?
Also then what happens when it comes time to sell? Can you sell them on BTC-e.com, or how do you take them over to Mt Gox when eventually LiteCoin will be on there?
Yes I am sure a lot of these questions are easily answered by most people, but I just started my mining adventure a week ago, am building a LiteCoin rig as we speak to better get results, but I'd like to invest some money I have now in LTC before it sky rockets when introduced to Mt. Gox.....which speaking of, is there any speculation on the date to which this will occur? April is winding down....
Also, what about this site? It seems that I can use them to deposit money into my Mt. Gox account, then use that to purchase the BTC. Is that correct? Because every other site I have looked at requires cash only or some other weird services.
Neither of you answered my questions! :P Gotta figure out best ways to get cash into these online accounts then the best way to cash out haha but I agree with Termhn
well I used bitcurex.com - I'm not from 'merica so have lots of problems getting a wire (mainly costs)
and on a plus side of things they didnt require any authentication via sending them id and such
and ofc I'm new in the scene so I'm not telling it's 100% secure and what not - it worked for me thou
main problem with this stuff is that ie paypal / cc transfers can be retracted and the guy selling coins is basically in a bag of poo, so noone is using it aside from scammers or friends
I signed up for Dwolla, took awhile but my verification is finally about to go through. This way you can put money from you checking into your Dwolla. Then put money into Mt. Gox from Dwolla(possible directly to BTC-e but not sure). then if you put money into Mt.Gox, but BTC. Send the BTC to your BTC-e, then trade for LTC. This is a shit ton of hoops to jump through, but that's why LTC is check. It's hard to get. Once it's easy to get the price with sore. Putting in the extra work to get it now will be rewarded later. I'm gonna drop atleast 100 dollars on LTC once I can.
Your predictions on what the price of LTC will go to once it's on Mt. Gox and easy to purchase? Yeah I heard Dwolla takes forever to take your money though, and how do you go about then pulling money out of it. Like if you sell on BTC-e your LiteCoins, how do you get that money back into Dwolla?
Well setting up Dwolla was easy, but waiting to be verified for Mt. Gox is taking FOREVER, I sent in my ID but not proof of residency yet, I'll do that tomorrow but says 10 days (I think I signed up last Thursday)
The only way to actually get money back to Dwolla is by buying bitcoins with your litecoins on BTC-E and then transfering them back to your mtGox account, then withdrawing to Dwolla from there.
Pretty ridiculous.
Otherwise BTC-E has several ways to withdraw money, but naturally all of them have fees and you will probably end up getting more by withdrawing through mtGox anyway because of the price differential