What options are available to purchase bitcoins in bulk (e.g. a buy in the range of ten thousand dollars or more) without having to mess around with a market exchange?
How can it be determined if the price is fair?
What payment methods are accepted?
asked Jul 20, 2012 at 20:11
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1What benefits are you trying to gain over using an exchange? What do you mean by "mess around with" exactly?– David SchwartzJul 20, 2012 at 21:11
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Basically so that a person can basically hand over to somebody X dollars (or send a wire for an amount), provide bitcoin address and then know that in a day or so bitcoins will arrive and that the overall price paid for them was at a fair rate.– Stephen GornickJul 21, 2012 at 19:42
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1I guess what this would be called is a broker. Are there any bitcoin brokers, and how would you be able to tell if the broker is fair?– Stephen GornickJul 21, 2012 at 19:44
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@DavidSchwartz - e.g. volume discounts.– ripper234Jul 28, 2012 at 13:19
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1@ripper234: But if you're buying wholesale, the other party is selling wholesale. They would be equally entitled to a discount, and you can't both get a discount. Perhaps you might be able to transact without paying a commission to an exchange, but you're unlikely to get a break on the rate.– David SchwartzJul 28, 2012 at 18:48
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4 Answers
The following offer sales of bitcoins in larger quantities:
- Tangible Cryptography sells coins received for its bitcoin cash-out service FastCash4Bitcoins.com
- Bit-Pay Merchant Services, a merchant processor (minimum $10K transaction)
answered Jul 28, 2012 at 0:09
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You can buy them by trading directly with someone who wants to sell a bunch of coins. One good place to find willing counterparties bitcoin-otc (#bitcoin-otc on freenode irc, and bitcoin-otc.com).
It isn't too hard to find someone willing to sell large amounts of BTC at around the MtGox market price with no fee. You can try #bitcoin-otc or the Bitcoin Forum's "Currency exchange" section. Wire transfers and Western Union are the most commonly-accepted transfer methods for large amounts.
It's also very easy to buy MtGox USD coupons. A lot of sellers will trade 1 MtGox USD for 1 transferred USD -- no fee at all (besides the transfer fee).
I think that in common sense, as there is no central authority to be emiting bitcoins you can not simply be buing wholesale. The only way to get more stable and equal price is: Firstly - Go to the exchange which handles big volume of BTC, e.g. Mtgox.com Secondly - You can just be buying the smaller rate of bitcoins.
The payments metods include mainly wire transfers, in Europe SEPA (which is cheaper for earopean), and many other things like Ucash. You can also buy Linden Dollars and trasfer to bitcoin. Or https://www.bitcoinary.com/ seems to be good way when paying with paypal.
