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Title: How do I buy bitcoin as a business to make business purchases? (No Personal Use) Post by: TronicJon on November 30, 2017, 06:13:04 AM How do I buy bitcoin as a business to make business purchases?
For example, I went to signup at CoinBase, but it redirects new business accounts to GDAX, and GDAX seems to be made for investing only not purchasing business goods. What's a good option for a business? We want to pay our web developer in bitcoin for example. Newbie help please! (Thanks) I haven't signed up for anything yet, still trying to figure out the best option for a business account. Title: Re: How do I buy bitcoin as a business to make business purchases? (No Personal Use) Post by: Zero_Cloo on November 30, 2017, 09:25:05 AM GDAX is a bit confusing to start, but it's really just an exchange. It has investor features but it will serve your purpose as well. You would deposit in your fiat currency, make a trade into BTC, and then withdraw the coins to your company's bitcoin wallet, from which you can send them anywhere you like.
Once you have BTC you don't have or need a "business account" to do anything with, you just have a wallet like everyone else. Accounting for this is something of a pain in the ass. It's worth rethinking if you're ready for that. Title: Re: How do I buy bitcoin as a business to make business purchases? (No Personal Use) Post by: Mike Mayor on November 30, 2017, 10:58:57 AM 1. Have fiat in a bank account.
2. Go to local Bitcoin and sign up quick and easy. 3.Setup a wallet. 4. Conduct a trade and send a bank transfer or PayPal it whatever in exchange for Bitcoin and keep peace in mind because local Bitcoin use escrow. 5.Withdraw coins from local Bitcoin account to your wallet you setup earlier on a site like blockchain.info 6.Send Bitcoin to the person you want to pays Bitcoin address and done! If your wallet is for business you might want to setup a vanity address. If you want to try an investment try Yolodice, but do not be fooled by Ponzi scams. Title: Re: How do I buy bitcoin as a business to make business purchases? (No Personal Use) Post by: TronicJon on November 30, 2017, 11:20:26 PM An investor friend's lawyer said: "He still recommends trying to get the Coinbase account open, just keep good records for tax purposes"
Ok, so it's that easy, nothing special. (I'll just keep a separate wallet/account for all business) Done and Done |