I have not had a chance to try Bitfloor yet, but I did finally get bitcoins through btcquick. I like their business model.
Re Bitfloor.
I used their service once. Please fill me in if I'm looking at this the wrong way.
Their service seems to be extremely expensive.
The transferring of money from a cash deposit at a local Bank of America wasn't bad.
But once the money was in my account, I had to trade for Bitcoins, and the rate was terrible.
Our of a $500 cash deposit, I ended up with about $440 dollars worth of bitcoins.
Whereas with BitInstant, a cash deposit at Walmart, through ZipZap yeilded me with about $480 dollars which immediately was transferred into my MtGox account, and the trade there was at the market rate, which gave me abouit $480 worth of Bitcoins.
So even though the transfer fees through Bitfloor were low, their 'Market Rate' for buying Bitcoins was expensive.
I lost about $40 out of my $500 compared to using BitInstant and MtGox.
Am I going about this wrong?
Thanks. Iz.
I just wanted to share my experiences
1) Bitinstant via ZIPZAP via Moneygram = ~6% in fees, but this is instantly deposited into MtGox. I have used this method the most because it didn't require and signups. If you make more than one deposit (limit is $500), make sure you change the amount because I had made 2 x $495 deposits and moneygram thought they were duplicates and cancelled them both. So make them $496 and $494
2) Bank of America transfer = don't recall the fees but this was instant, direct to mtgox
3) Coinbase = 1% fees = takes several business days, but they will lock in the price for you. I had a few "high risk cancelled transactions" but when I complained about it on Reddit coinbase took notice and fixed the problem. The reason i was so upset was because I bought BTC at $26/ea and the price increased up to over $30. Coinbase credited me the correct amount of BTC at the rate I locked in (even though this took a couple of days).
4) BTCQuick = ~8% fees = I had to get a bronze membership first, this took over a day. Then I was only able to purchase small increments of BTC. As you buy more, you can buy higher quantities. Once your membership is bronze, it was pretty fast (but I used the mtgox keys as my payout)
5) MtGox+Dwolla = the cheapest method to trade, but you have to verify both your MtGox and Dwolla account. This takes time. Also you must wait almost 7 days before the money that you transferred from your bank is in the exchange. It worked out pretty good for me yesterday during the 'crash' but I could see why people dislike this method.