<p>You hit the nail on the head my friend...You get less money/fiat per btc because they are all competing together for price so market efficiency is lower - usually withtin the scope of 20 percent lower.  However for this loss in premium, you can be guaranteed to receive a deposit in two weeks or less in most cases.</p>

<p>However the volume on Gox is higher I believe because of the history large players probably continue to use their services because AML verification limits already occurred and those cost money.  Plus, if the money is simply there to be traded and appreciated upon then it makes sense to keep the credits available such that you buy in low and sell out high.</p>

CC BY-SA 3.0
2013-08-24T05:57:32.680Z
2013-08-24T05:57:32.680Z
Frankenmint
<p>It depends where you live, what currency you want to trade in and where your bank account is domiciled.   I live in the U.K., and have bank accounts in various currencies and countries around the world.  For me, localbitcoins in GBP has been the best solution.  </p>

<p>Your situation may be different because withdraw/deposit times will depend on your financial institutions, the desired currency, and the transfer method you choose.</p>

CC BY-SA 3.0
2013-10-24T11:03:37.797Z
2013-10-24T11:03:37.797Z
zkilnbqi
<p>About half a year past from your question. MtGox is closed and freezed all users's funds.</p>

<p>Most popular exchange right now is <a href="https://bitstamp.net" rel="nofollow">https://bitstamp.net</a> but commissions are high enough.</p>

<p>After Mtgox story I wouldn't trust to btc-e since forums are full of btc-e scam reports.</p>

<p>There is a new exchange <a href="http://hitbtc.com/" rel="nofollow">http://hitbtc.com/</a> they offer good service and commissions. </p>

CC BY-SA 3.0
2014-04-01T13:28:36.673Z
2014-04-01T13:28:36.673Z
Harry Gilbert
<p>On a bitcoin exchange one buys, sells, and stores bitcoins.  Having sold them, one might want to withdraw dollars, euros, pounds sterling, etc.  It is suggested that the fact that MtGox is running two months behind schedule on withdrawals in other currencies may be the result of the confiscation of $5 million from MtGox's bank accounts, so they have a cash-flow problem.  If that makes the use of MtGox as opposed to other exchanges disadvantageous, what are the pros and cons of the various others?</p>

CC BY-SA 3.0
2013-09-16T18:17:26.450Z
Related question: [Why don't people buy at one exchange and sell at another?](http://bitcoin.stackexchange.com/questions/12670/why-dont-people-buy-at-one-exchange-and-sell-at-another)
Murch
CC BY-SA 3.0
2014-04-01T14:04:45.720Z
This question is asking for reviews of exchanges in general, but product recommendations are off-topic. On one hand, this question is not sufficiently focused as any answer listing pros and cons for at least one exchange would be technically correct, on the other hand, asking for a review of all exchanges is not reasonable, especially since their ranks are changing too quickly.
Murch
<exchanges><mtgox><wire-transfers><withdrawal>
Choosing bitcoin exchanges
Michael Hardy
# Choosing bitcoin exchanges

(Asked by: username_0 on 2013-08-24)

On a bitcoin exchange one buys, sells, and stores bitcoins. Having sold them, one might want to withdraw dollars, euros, pounds sterling, etc. It is suggested that the fact that MtGox is running two months behind schedule on withdrawals in other currencies may be the result of the confiscation of $5 million from MtGox's bank accounts, so they have a cash-flow problem. If that makes the use of MtGox as opposed to other exchanges disadvantageous, what are the pros and cons of the various others?

**Tags:** exchanges, mtgox, wire-transfers, withdrawal

> **Comments:**
> **username_1**: Related question: [Why don't people buy at one exchange and sell at another?](http://bitcoin.stackexchange.com/questions/12670/why-dont-people-buy-at-one-exchange-and-sell-at-another)  
> **username_1**: This question is asking for reviews of exchanges in general, but product recommendations are off-topic. On one hand, this question is not sufficiently focused as any answer listing pros and cons for at least one exchange would be technically correct, on the other hand, asking for a review of all exchanges is not reasonable, especially since their ranks are changing too quickly.  

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## 3 answers

### Answer by username_2 on 2013-08-24. Score: 1

You hit the nail on the head my friend...You get less money/fiat per btc because they are all competing together for price so market efficiency is lower - usually withtin the scope of 20 percent lower. 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 believe because of the history large players probably continue to use their services because AML verification limits already occurred and those cost money. Plus, if the money is simply there to be traded and appreciated upon then it makes sense to keep the credits available such that you buy in low and sell out high.


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### Answer by username_3 on 2013-10-24. Score: 1

It depends where you live, what currency you want to trade in and where your bank account is domiciled. I live in the U.K., and have bank accounts in various currencies and countries around the world. For me, localbitcoins in GBP has been the best solution.

Your situation may be different because withdraw/deposit times will depend on your financial institutions, the desired currency, and the transfer method you choose.


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### Answer by username_4 on 2014-04-01. Score: 0

About half a year past from your question. MtGox is closed and freezed all users's funds.

Most popular exchange right now is <https://bitstamp.net> but commissions are high enough.

After Mtgox story I wouldn't trust to btc-e since forums are full of btc-e scam reports.

There is a new exchange <http://hitbtc.com/> they offer good service and commissions.


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