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Title: Why do bitcoins exchange have so weird bid/ask price? Post by: snapbackfans on December 23, 2016, 02:40:35 PM Hello, new to here :)
I recently found some btc seller on paxful.com sell their btc at very weird bid/ask price? https://i.stack.imgur.com/5L6Pe.jpg According to the seller’s price Buyer need to use his credit card or debit card to pay $1.34 for $1 btc. Seller ask Buyer need to provide photo of ID or driving license and Credit/Debit Card/ Selfie with an identity card verify their ID. So basically the buyer will be the real card holder. Obviously buyer will lose money in this exchange, why do they do such a business! I thought they are carding at first, But the Seller ask Buyer to provide following stuff: Photo of ID or driving license and Credit/Debit Card/ Selfie with an identity card verify their ID. So I don’t buyer is carding. Thank you in advance! Merry Xmas and have a nice holiday! Title: Re: Why do bitcoins exchange have so weird bid/ask price? Post by: DarkStar_ on December 24, 2016, 01:07:57 AM Because it's risky. First of all I believe that isn't a paxful offer, so it's the rate the person wants. 34% is a crazy high premium, it usually sits under 10% of the fourms anyway, but there is a premium because the person can still chargeback, and even with their ID, the seller usually can't do much about it. Can't get their bitcoin back, and your not going to court for something under (probably) 500$ as it's a waste of time.
Exchanges that aren't P2P usually have smaller fees, or at least for non risky methods. Title: Re: Why do bitcoins exchange have so weird bid/ask price? Post by: neochiny on December 24, 2016, 04:07:12 AM Hello, new to here :) That's too much. Find a different seller. 34% is too high and I personally wouldn't send my ID's to some stranger on the net. I recently found some btc seller on paxful.com sell their btc at very weird bid/ask price? http://https//i.stack.imgur.com/5L6Pe.jpg According to the seller’s price Buyer need to use his credit card or debit card to pay $1.34 for $1 btc. Seller ask Buyer need to provide photo of ID or driving license and Credit/Debit Card/ Selfie with an identity card verify their ID. So basically the buyer will be the real card holder. Obviously buyer will lose money in this exchange, why do they do such a business! I thought they are carding at first, But the Seller ask Buyer to provide following stuff: Photo of ID or driving license and Credit/Debit Card/ Selfie with an identity card verify their ID. So I don’t buyer is carding. Thank you in advance! Merry Xmas and have a nice holiday! Also, if you're having trouble finding a good seller on Paxful, just find one here on the forum. Go to the Currency Exchange section, I'm sure you'll find some there. Do remember to use escrow always. I'd recommend: zazarb's thread : https://bitcointalk.org/index.php?topic=1092531.0 and shdvb's thread : https://bitcointalk.org/index.php?topic=583572.0 Both of them has been actively doing trades in the forum for years now and they have good trade history/feedbacks. Title: Re: Why do bitcoins exchange have so weird bid/ask price? Post by: unholycactus on December 24, 2016, 05:17:55 AM Credit card charges are reversible, Bitcoin isn't.
In other words, it's a huge risk for the seller, which is why the sell Bitcoin with a premium (34%). They are the ones offering a service, they don't really care if you are losing money as long as they are making some. Title: Re: Why do bitcoins exchange have so weird bid/ask price? Post by: snapbackfans on December 24, 2016, 03:28:59 PM Hello Guys
Thank you for your reponse. Have a nice holiday! |
