Bitcoin Forum

Looking to buy BTC, preferably 10 BTC+ at a time via WU at Bistamp rate. I will cover WU fees. I will buy smaller amounts though you will have to pay WU fees.

You will go first or we can split escrow.

Stars

Escrow will be the only option for you since you have no prior trading experience.  Since your the one looking to purchase it would be hard pressed to find a seller willing to pay for escrow as well.

Have you looked into www.localbitcoins.com?

Yeah, that's understandable. What are the usual escrow fees?

I have briefly yeah, I don't really feel comfortable meeting up with someone and buying bulk BTC for cash though.

You just said that you were looking to buy "bulk" amounts of bitcoin.

Generally speaking most escrows will charge 1% of the transaction amount, although some do it for "tips" however even ones that work on tips only should still be paid at least 1% of the transaction amount

There's a few good sellers on localbitcoins, but it depends on where your located.  I assume www.circle.com isn't an option for you? (they are fantastic)

Yeah, as I wrote that I realized it didn't really make sense, what I meant to say is that I don't feel comfortable meeting up with someone carrying around a large sum of cash. Will edit it now.

Ok, 1% seems reasonable. I guess I wouldn't mind paying that.

A few friends have told me about circle but I haven't really looked into it. Mind giving me a brief run-down on the fees and such, getting the $ on there?

Bank account is free, credit card has a small fee.

Bank accounts and credit cards are instant upfront for a certain amount (it depends on your info)

so say you deposit 2k from your bank account they will grant you maybe 500-750 upfront of that and the remainder will be a normal bank xfer and once it arrives you get credited.  Credit cards are instant, but the limit is $500/week

Interesting. I will definitely look into it. I assume you need a verified account on circle, and that verification process is similar to stamps?

I'll still try to gather some BTC on here though and get a few successful trades under my belt as I plan on opening up a gambling website soon.

My understanding is that the verification for both circle and coinbase is that you need to provide personal information to them, but in most cases do not actually need to provide pictures of your identification ect.

Alright, I'll get right on that and make a circle account. Thanks for the info.

Reason why I like Circle a lot is they have an ios app and its easy to use

Yeah, I can already see the limit getting annoying though. Any idea what the limit is per week using BOA?

I have no idea,  I think limits are different for everybody.

with coinbase if you verify your identity, your cell phone, bank account, and credit card then it is $10,000 per day worth of Bitcoin. I don't think what bank you are using matters.

Yeah, I'm not willing to wait 4-5 days for the coins to come and risk the price dropping though. There's no way around that, right?

i don't know of any way around that. What exactly do you plan on doing with that much Bitcoin that you need access to the coins the same day you pay for them?

*note to self* Quickseller sounds like a FED.

Why so nosy?

I'm sure he is going to use them properly like everyone else.

well depending on what he wants to do with them (arbitrage, trading, but something) there may be a solution for him.

The reason on why I wouldn't want to wait 4 days for the coins to come is because I don't want the BTC to drop in value. I could have bought $10k worth of BTC, received them 4 days later at a value of $8-9k. Sure, It could work both ways and I could receive them at a value of $11-12k but I'd rather not take that risk. I want to buy the BTC and sell them on an exchange for whatever value I bought them at and then hold all the $ on an exchange until I launch my gambling website. Then I will buy all the BTC at one time, for the same price.

If you only want to get fiat to an exchange then you should use coinbase. They have a "USD" wallet (in many states) so you can send USD to your coinbase account and not have it purchase bitcoin (as most people do). If you do not live in a state that the USD wallet is available with coinbase then they may not work for you.

Holding fiat on an exchange is very risky though and is not something that I would recommend doing for any extended period of time.

You should avoid Coinbase at all costs. There are other services out there who are good options as well as plenty of sellers.

Waiting days in a Bitcoin market isn't worth it to tons of folks I talk to. In this case you need to establish a local Bitcoin like seller who can get you locked n loaded within the hour.

If you can deposit cash at a US Bank branch I'd be happy to get you squared away. 

I'd rather deal with a normal bank ANY day over Coinbase.  Seriously... don't even fuck with Bitcoin if the freedom you are looking for is underlined by Coinbase.