AutoMtGox converts bitcoins received at a single wallet address automatically to US Dollars and transfers to your bank.
Note - This service is not operated by MtGox and has no affiliation with the exchange..
AutoMtGox started as a personal project, then expanded word-of-mouth as a private service to friends and friends-of-friends. On 8/14/11, it opened to the public.
How It Works
AutoMtGox works in connection with your accounts on MtGox, Dwolla (or other banking service), Once you are setup on these services, all you do is send bitcoins to your MtGox wallet address and the AutoMtGox service gets to work converting your bitcoins to cash (based on rules you define) then transfers US Dollars to your banking service (based on your thresholds).
- You can point your miners to send bitcoins to this address for automatic conversion to cash at regular intervals.
- You can accept bitcoins as payment/donation on your website or service at this address and convert payments to cash.
- You can send bitcoins from your personal wallet to this address whenever you need cash.
- The website doesn't host a wallet or keep any bitcoins so if service goes down or AutoMtGox disappears, your money is still safe on a trusted service.
- This is no savings account so your assets aren't built up or compounded. Balances are sold-off almost immediately and transferred to your banking establishment as quickly as possible, thus making your exposure to loss limited.
- If one of your accounts gets hacked or you discover anything "hinky", you can revoke authority or change addresses between services before damages can become a major concern.
- AutoMtGox website
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