Resource Buy Bitcoin megathread

[Goldie]

There a few people that have asked Qs re buying BTC/Bitcoin, mostly re buying N from A. I hope those who know can address those Qs here.

I will start with what I know:

Some notable points:
* BTC can be purchased with only a credit card/bank transfer, using just a web-based wallet. You do not need software on your PC or need to download the whole blockchain, or need any technical know-how. Whereas you certainly can run your own bitcoin-node to purchase BTC you do not need to.
* BTC is significantly lower-risk than using WU/MG. I have had a WU transaction cancelled when trying to buy N from A.
* BTC exchanges can restrict its customers to certain areas/countries. This restriction only applies to the source credit/debit cards, banks etc. not the beneficiary of your transaction.

Recommended BTC Exchanges that provide web-based wallets:

EU: Bitpanda <-- I used them to successfully buy N from A
US: Coinbase , circle.com
Austrailia: Coinspot

See also: www.bitcoin.com/buy-bitcoin ; bitcoin.org/en/wallets/web/

 

[MexicanTravels]

LocalBitcoins.com is also an option if you have cash and don't have a bank account with enough money it. You can deposit your cash at specific banks or transfer the funds to a seller through Western Union and MoneyGram. Then you can use the Bitcoin you obtain to pay A.

Here's a tutorial on how LocalBitcoins works:

https://localbitcoins.com/guides/how-to-buy-bitcoins

 

[Kingkelly]

I did coinbase but they are holding my money for 2 weeks? They say you can make purchases but I can't figure out how to use it. Think I'm just waiting for the 2 weeks to transfer to an easier to use wallet. Its probably just me though lol

 

[Goldie]

Perhaps it is a secuity precaution as you are a new customer. The guaranteed method is to use localbitcoins, but this can be difficult. I actually initially tried to use localbitcoins but I found that the sellers were very unreliable.

 

[s_girl]

I used localbitcoins.com

Anonymously and paid cash. They have a safe system with escrow. I found it slightly more expensive, but very safe and easy so I would highly recommend as a bitcoin beginner myself...

 

[311]

I did coinbase but they are holding my money for 2 weeks? They say you can make purchases but I can't figure out how to use it. Think I'm just waiting for the 2 weeks to transfer to an easier to use wallet. Its probably just me though lol

It takes like 10 days for money to transfer. Do not buy bitcoin since its value can fluctuate.

 

[ausboy96]

I'm in the process of making a coinbase account right now. Is there a faster way to get bitcoins into a wallet? I want to pay for N ASAP and I don't want to have to wait around for a few weeks.

 

[MexicanTravels]

I'm in the process of making a coinbase account right now. Is there a faster way to get bitcoins into a wallet? I want to pay for N ASAP and I don't want to have to wait around for a few weeks.

No, if you're making a new account, it could take up to 14 days for your money to clear on your first transaction. I suggest Coinbase Pro where your money will clear in 4 days or LocalBitcoins where it is near instant (depending on the seller).

 

[ausboy96]

No, if you're making a new account, it could take up to 14 days for your money to clear on your first transaction. I suggest Coinbase Pro where your money will clear in 4 days or LocalBitcoins where it is near instant (depending on the seller).

Sweet, thank you.

 

[Kingkelly]

It takes like 10 days for money to transfer. Do not buy bitcoin since its value can fluctuate.

Ya pretty sure mine went down by 5$

 

[lululoo]

I'm trying to piece together what I've read here, in the N megathread, and in other threads about bitcoin. It seems like it doesn't matter which bitcoin site you use, with a few caveats:
- if you want to buy the bitcoin with cash and not have any trail from your bank to the bitcoin, then you can do walmart2walmart through localbitcoins.com. I'm not sure of the advantage of this. Ultimately whatever you order will you still show up with your name on it.

-coinbase makes you wait 2 weeks to buy bitcoin. This isn't true of other sites... right?

-different sites work in different countries so you have to find one available to you

Anything else good to know?

 

[Goldie]

I'm trying to piece together what I've read here, in the N megathread, and in other threads about bitcoin. It seems like it doesn't matter which bitcoin site you use, with a few caveats:
- if you want to buy the bitcoin with cash and not have any trail from your bank to the bitcoin, then you can do walmart2walmart through localbitcoins.com. I'm not sure of the advantage of this. Ultimately whatever you order will you still show up with your name on it.

-coinbase makes you wait 2 weeks to buy bitcoin. This isn't true of other sites... right?

-different sites work in different countries so you have to find one available to you

Anything else good to know?

Correct re walmart and localbitcoins.

Bitpanda do not make you wait, but it is for EU cards only.

 

[LaBrava]

Can anyone tell me anything about buying bitcoins through LocalBitcoin.com using bank deposit? I want to pay with cash but the option to meet and pay money to a seller has been withdrawn. Does bank deposit mean I would go to a branch of the sellers bank and pay cash into their account.

 

[stupidlife666]

Bitpanda got a minimum send amount of 75 Euro???

No, if you're making a new account, it could take up to 14 days for your money to clear on your first transaction. I suggest Coinbase Pro where your money will clear in 4 days or LocalBitcoins where it is near instant (depending on the seller).

Wait what???
But if I send to my Trust Wallet , it's going to be instant from there right?
So I'd only have to w8 for the btc to arrive in my trust wallet am I right?

What's the clear time for a new account on

BITPANDA

AND

BINANCE ?