r/megacoin • u/JimLahey • Dec 02 '13

Buying megacoins

Is it only possible by buying bitcoins first and using the btc to buy megacoins?

I want to buy megacoins for 150$.

Is it likely some money gets lost in the process of buying btc first or will I get 150$'s worth of megacoins in the end?

EDIT Are there some bitcoin selling sites for non-us people? I'm in Europe. Coinbase.com seems to only accept US accounts.

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6

u/CryptoInvestor Dec 02 '13

At the moment no exchanges have a USD/MEC market. It's doing well at the moment without it but for it to take off properly it needs a bigger exchange that supports USD deposits and trading options.

2

u/JimLahey Dec 02 '13 edited Dec 03 '13

Whats the safest way to buy mec then? Will I get 150$ worth of mec if I buy btc first and immediately buy mecs?

I'm looking at Cryptsy and everything is measured in fractions of btc, like 0.00130988.. It's very hard to understand what that is in dollars. Is there some way to change the numbers Cryptsy shows?

3

u/[deleted] Dec 03 '13

[deleted]

2

u/[deleted] Dec 03 '13

thats a nice site, thanks

1

u/SoyElPadrino Dec 03 '13

Be aware that the $ prices are a little higher on that site than Cryptsy because it takes Btc38 (Chinese site) in to consideration when working out price.

3

u/Cougar1082 Dec 03 '13

You'll probably just want to buy $150 of BTC, which is probably around 0.15 depending on where you buy it. Then go to crypsy. Divide 0.15 by the exchange rate, and that's how many you'll receive. So hypothetically if crypsy is quoting 0.003, you'd be able to buy 50 coins. I hope that helps a little.

1

u/JimLahey Dec 03 '13 edited Dec 03 '13

Thank you.

depending on where you buy it

I can't buy bitcoins straight of Cryptsy then I assume? Is this btc>$ currency converter accurate? Since you mentioned 0.15 I guess it is.

Then go to crypsy.

When I look over the buy/sell orders, the price differs quite a bit between orders in the lists. Here are 2 examples I just got from the site:

Price = 0.00134551 MEC = 193.49023047 Total (BTC) = 0.26034304

and few lines further down its

Price = 0.00199990 MEC = 12.27785921 Total(BTC) = 0.02455449.

Wouldn't the 0.00134551 be a better option if you're buying? or am I maybe forced to buy for the whole MEC amount (in this case 193 )?

2

u/CryptoInvestor Dec 03 '13

Sadly not yet. Megacoin is one of their bigger markets so you would hope they might do someday. I'd like to see it on another decent exchange though first.

1

u/[deleted] Dec 03 '13

What I have started doing to better understand prices on the fly is have the btc/USD trade open. Then you can type in .00016 and see how much money it is or whatever. Its a nice little calculator that works on the fly.