Bitcoin Forum

Economy => Service Discussion => Topic started by: OROBTC on July 16, 2014, 04:44:56 AM



Title: Buy BTC with Credit Cards!
Post by: OROBTC on July 16, 2014, 04:44:56 AM
...

I just saw that https://www.trucoin.com/ is now selling BTC by credit cards.  I wonder if this may jump-start BTC a little more in that it appears that it is now very easy to buy them...

I am not affiliated with them, so I did not place this topic under "Service Announcements".

I will probably try them out soon.


Title: Re: Buy BTC with Credit Cards!
Post by: Sydboy on July 16, 2014, 07:48:29 AM
thanks for finding and posting that. I thought credit cards and bitcoin were frowned upon due to the chargeback risk. maybe this company hasn't figured it out yet


Title: Re: Buy BTC with Credit Cards!
Post by: moni3z on July 16, 2014, 08:09:31 AM
Blog seems to indicates they are still in private beta. This is a noble effort but will be frauded out of existence. I'm surprised they could even find a merchant account/payment gateway to allow this high risk.


Title: Re: Buy BTC with Credit Cards!
Post by: dadas15 on July 16, 2014, 10:37:18 AM
I think you can check this site;
http://npay.pro/ (http://npay.pro/)


Title: Re: Buy BTC with Credit Cards!
Post by: brunner on July 16, 2014, 04:51:39 PM
thanks for finding and posting that. I thought credit cards and bitcoin were frowned upon due to the chargeback risk. maybe this company hasn't figured it out yet

I would argue the opposite.  It's true that there is a significant chargeback risk when accepting card payments for bitcoin, but we've spent a tremendous amount of time and money developing a fraud mitigation system that minimizes this risk.  Thanks to this, it's possible for us to offer the general public the ability to set up an account in less than two minutes, and then take delivery of bitcoin within seconds of placing each order.

If you're in one of our eight states, I'd love to hear your feedback after trying it out.


Title: Re: Buy BTC with Credit Cards!
Post by: Sydboy on July 16, 2014, 09:38:59 PM
i'm in Australia otherwise i would definitely test it out :(
can you go into more detail why it is only supported in 8 states ? I am interested now.

you must have some user verification system by the sound of it.


Title: Re: Buy BTC with Credit Cards!
Post by: OROBTC on July 16, 2014, 10:13:16 PM
...

After some jumping through hoops (ID had to be scanned & sent to them, they had to make sure my DEBIT card was OK, etc.), I bought 0.15 BTC (almost $100) or so just this afternoon.  They charge some 5% for the service.

All went well.  I resent my received BTC on to the two mixing services I use.

A comment above referred to another service (buying BTC by credit card I presume), but I have not heard of them.  trucoin.com (http://trucoin.com) was mentioned at reddit last night, so I gave them a try.

***

They are starting with just the eight states, but will apparently be in 25 or more pretty quickly.

YES, Mike told me that they were very busy today!

I am NOT affiliated with them in any way, but I do like the ability to buy BTC when I want, without having to deal with an exchange (note that I have not explored using any of the exchanges yet, still a beginner).


Title: Re: Buy BTC with Credit Cards!
Post by: Baitty on July 16, 2014, 10:30:47 PM
Sadly these services are all for the US. I wish more companies like this would be selling in europe.


Title: Re: Buy BTC with Credit Cards!
Post by: Sniar on July 17, 2014, 12:58:51 AM
So this service are only for the citizen under US ?


Title: Re: Buy BTC with Credit Cards!
Post by: desticy on July 17, 2014, 03:05:48 AM
Too expensive fee, not worth to do.
Exchange is the best way to buy bitcoins, and kraken or bitfinex has a lower fee, and bitstamp and lakebtc is more vocational


Title: Re: Buy BTC with Credit Cards!
Post by: OROBTC on July 22, 2014, 03:43:56 AM
...

I bought some more BTC from trucoin.com (http://trucoin.com) today.

I think that are limited to just eight states either because they have the regulations all ironed out with them, or maybe they do not have enough people or presence (??) in other states.

I am going to guess that they are not outside of the USA now because of money-laundering laws (probably both US laws and other countries' laws).

***

I took a more careful look at my receipt today.  Yes, they charge 5%, but there seems to be some other small charges (or else they sell BTC at the "Ask" price, I do not know which), so perhaps it would be best to assume that the "TOTAL FEES" would be about 6% - 7%.  Considering how hard it is for me to buy them (esp. for cash), that seems reasonable.

Disclaimer: I have NOT checked out exchanges or other BTC providers or other possible competitors.


Title: Re: Buy BTC with Credit Cards!
Post by: justforbtc on July 22, 2014, 06:06:32 AM
Too expensive fee, not worth to do.
Exchange is the best way to buy bitcoins, and LakeBTC (https://www.lakebtc.com/) or Bitfinex (https://www.bitfinec.com/) has a lower fee

Bitfinex has lower fee but not lakebtc, lakebtc has 0.5% trade fee for small volume and charge 0.3% btc withdraw fee. How can you said lakebtc has lower fee?!


Title: Re: Buy BTC with Credit Cards!
Post by: imBLACKjack on July 22, 2014, 11:36:21 PM
...

I bought some more BTC from trucoin.com (http://trucoin.com) today.

I think that are limited to just eight states either because they have the regulations all ironed out with them, or maybe they do not have enough people or presence (??) in other states.

I am going to guess that they are not outside of the USA now because of money-laundering laws (probably both US laws and other countries' laws).

***

I took a more careful look at my receipt today.  Yes, they charge 5%, but there seems to be some other small charges (or else they sell BTC at the "Ask" price, I do not know which), so perhaps it would be best to assume that the "TOTAL FEES" would be about 6% - 7%.  Considering how hard it is for me to buy them (esp. for cash), that seems reasonable.

Disclaimer: I have NOT checked out exchanges or other BTC providers or other possible competitors.
Any website that sells bitcoin via credit cards is simply going to have to charge a big markup because of the massive amount of fraud that will be attempted against them.


Title: Re: Buy BTC with Credit Cards!
Post by: onezerobit on July 23, 2014, 11:50:44 PM
Can anyone provide information on where the Charge on the Credit Card is being made from?

COIN.mx does the same, but the charge on the Credit Card statement shows up from Ajerbaijan in Eastern Europe, do trucoin do something similar?

Also, is the service available for NY State?

and seriously, how the hell did they get a Merchant account?


Title: Re: Buy BTC with Credit Cards!
Post by: OROBTC on July 26, 2014, 01:28:53 AM
...

Today I wanted to buy more BTC from trucoin, but that "beta period" just finished (eight states).  Now they want to expand their service, but until they do, they will NOT be selling BTC.  There is a link that one of their guys gave me via their chat that it will be weeks (unknown number of weeks), and then they will again be offering the service (and to more states).

Well, I suppose that any of us (inc. me) will just have to wait.