Bitcoin Forum

I realize I need to learn more about the process of purchasing bitcoin for the first time, obviously!  Hoping to get some straightforward advice on how to go about it....

I joined MtGox...went through long drawn out process of being verified.  Decided I didn't want to then do International Bank Transfer (ANOTHER 10 days til it is verified).  Noticed some negative feedback in regards to MtGox

Then thought I would just buy online...bit concerned about it, as I have read some scamming going on, or issues with coins being reversed etc.  My igonorance...not comfortable enough due to what I don't know(technical stuff)!

Thought I could then just create another wallet (localbitcoins), try and find someone locally (in Winnipeg), and do a cash sale face to face.  I contacted a local seller from the listing(early morning), sent a message/request asking if they were available later that evening (gave a 3 hr window).  Explained(put fourth an offer) I wanted to buy a bitcoin for 390, would meet him wherever he wanted, explained I had never done this before and he might have to help with the purchase process.  Almost 24 hrs later, no response. So I cancelled the request.

I emailed localbitcoins to see if I went about it incorrectly, and reason why I got no response from seller.  Never heard back from localbitcoin.

I posted a topic/question/advice needed, days back in this forum.  Also, messaged someone that I had hoped would sell to me or give some friendly advice.  No responses

What am I doing incorrect??  I simply want to buy a full bitcoin at a fair, agreed upon price, from someone that has been around for awhile and is trusted. 

Hoping someone from the Bitcoin community will take the time and explain where I am going wrong!  Is it REALLY this complicated, or am I just a moron?!!!! Omg maybe I am a moron lol

Can someone out there sell me a bitcoin...face to face for cash?  Or someone selling online that is active on the forum as a seller, and is trusted and wont take advantage of a noob?

HELP PLEASE!!!  Purchase price was under 200, when I started this process!  Would really appreciate feedback.
Thanks

Coinbase is the easiest method for US-based persons.

As you've found, MtGox is slow and Localbitcoins is unreliable.  Coinbase requires a few days to verify your bank account (in some cases though, it is instant), but then you can buy and sell with a click of a button.

thanks for responding!!

Is that necessary, join another service?  I have already joined a few....mtgox, virtex, localbitcoin, etc and not getting results (purchase NOW).  Not to mention keeping track of all my darn passwords and accounts etc lol.  Do I have to join another site, or is there not a simpler way?

Im in Canada...prefer to use Canadian funds to purchase

I have heard good things about Cavirtex, generally. I remember hearing at some point recently (not sure if still true) they had a very easy bank transfer deposit option. Can any Canadians chime in on this?

LocalBitcoins sellers can be sparse in some areas, but Winnipeg shows 4 people. Did you try all 4? There are also online options available.

If you have a credit card try Virwox. It is kind of expensive but faster than most other methods.

Basically this ^^ .  Coinbase is the only way to go ...not sure why anyone would use localbitcoins.

It has many advantages to use person to person trade as long as the price is not much over spot, no ID, no tracking, and so on

Try BTC Quick. You can buy via Google Wallet. That's who I use when they have them in stock. They're pretty quick too.

honestly if I was a noob i'd get coin from btc-e and with draw then good night vienna. I'm holding from there on in.

Im using CoinBase. Supposed to take a few days. Been since Friday and no BTC yet.

The only problem for me is transfering USD to btc-e. What do you use to move your USD there?

To the opening poster: Coinbase is probably the easiest way to buy bitcoin, with the least risk. If you want to buy and hold, you can just keep your bitcoins in a Coinbase wallet, or offline. If you want to trade, Bitstamp is probably the best option. There's plenty of volume there, and it seems to be more reputable and less risky than Mt. Gox.

OP, your experience is very common.

I've found that mining(!!) ends up being the most straightforward, reliable, private and least-trust method of converting fiat into bitcoins. It is ridiculous, but it is so. I will continue to mine even when at 0-profit or at slight loss. On a side note and sorry for the offtopic, I fucking miss the point of purchasing mining hardware with bitcoins

Thanks for all the advice/tips!

Yet another question....

Think for the first purchase I will attempt again to connect with a local (in person) buyer.  Once I have my first bitcoin purchased, I will then buy a 2nd one online to play with.

I would just show up at meet, give seller my wallet number (I don't need to bring my laptop I assume), and he would give me a verification number, correct? Wouldn't I want to see that the coin has actually transferred into my wallet before I give him the cash? I see comments from others stating that days later bitcoins still not in wallet.  Would it not be instant, doing it directly with a seller? Or is it safe enough to think it will transfer, due to having the verification number

Noooo....I don't have trust issues lol.  The pride just couldn't take the knock of being a sucker haha

Thanks again for everyones help!

If the seller transfers to your LocalBitcoins wallet, then the transfer is instant and the seller tells you the verification code to prove that you have received the money. If you want the money to be sent to a different wallet, then you have to wait for confirmations.

I bought my first bitcoin over bitcoin-otc very easily. I found someone who was willing to take the risk of paypal. But btc was around $11 then. Now finding someone to risk $390 on paypal will be hard, but worth a try.

head over to http://webchat.freenode.net

and type #bitcoin-otc in channel.. Then find someone willing to sell.
Warning! you need to check the rating of users before sending them any money. Learn the rating system there before doing anything.

I think you're just overthinking it, you have your localbitcoins account, it's a very good service. Just pay with bank transfer, pick any seller that has decent feedback rates and accepts the currency that you want to pay with job done you'll have your coins in minutes. Of the 10 or so purchases I've made using bitbargain.co.uk and localbitcoins.com all but one was completed as fast as I could type, one guy went quiet for an hour but these are humans no robots so no bother.

Forget buying with cash for now, that's just another element to complicate the process and probably why you're having trouble. Paying with a bank transfer is as good as instant and personally I'd feel much safer than meeting someone to swap cash - especially if I was not technically minded.

PS:  In the UK we have a phone app called Ping-It which makes buying coins really very easy and ludicrously fast, you may have a similar service with your bank.

Localbitcoins should be fine if you use escrow.
Pick sellers doing Bank account transfer with a good number of operations and good feedback.
Be sure to select an online user (so you get the btcs fast)
Once you buy the system will alert you if the seller has enough BTC at Localbitcoins online wallet (escrow).
If it has, it will lock the amount once you click the "Already pay" button.
I always buy using this site and get my btcs in minutes.

Localbitcoins all the way! :D

I'm new too, and I set up a Coinbase acct a few days ago. Took me about 5 minutes including bank verification. Now that the price has jumped, I don't know if I will buy any. I'm thinking maybe 1 just for practice, but I don't even know how to use my wallet yet. Figured I better practice with 1 coin before I start mining and have several! Good luck.