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Author Topic: completely confused  (Read 1154 times)
bj (OP)
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June 20, 2013, 04:09:47 PM
 #21

dirty dog... you should be a teacher!  THANK YOU SO MUCH for spelling this out PERFECTLY.
thank you again!

Hi:


Ok I'm not sure if I am understanding you correctly. But let me see. First of all I'm based in an obscure country so I have not used mtGox but rather use my local small exchange, hear is the process I go through to obtain Bitcoin.

I go to my local exchange website on the website there is listed Bitcoin for sell at various prices and quantities (in my local currency) I naturally choose the cheapest price and click on BUY and the amount,  (lets say 1BTC.) Once I have pressed buy, there is an instruction to send fiat money (in local currency) to a local bank account, I then send this money via EFT, once the seller has received the money the exchange releases the BTC to my wallet (I have given the wallet address to the exchange) I now have BTC in my wallet. I always want to use an exchange or some third party to do the transaction rather than buying/selling directly with an unknown person to prevent that person from just taking my money and then not depositing the purchased BTC. this 3rd party (the exchange) ensures that there is no fraud. PS I have read on the internet that if you are selling BTC you should not accept Paypal or Credit card transactions from people you do not know as that person can reverse the payment days or weeks later, thus defrauding you of the bitcoin you sold.


Once you have BTC in your wallet you can send that BTC to anyone in the world at almost no cost (0.0005BTC) providing the other person has a wallet. The process is very easy. The person you are sending to would email you their wallet address, you go to your wallet and select the "send" option, now paste in the wallet address of the person you are sending to and the amount of BTC you are sending and press the send button. DONE.


The person now receiving the BTC will receive the BTC into their wallet (should take a few minutes). This person now can either send the bitcoin to someone else, or spend the bitcoin at a website that accepts BTC as payment (very few places). or that person can SELL the bitcoin in his local currency at a local exchange that operates in his currency.   
bj (OP)
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June 21, 2013, 03:31:39 PM
 #22

ok.  i want to buy one bitcoin.  How do I do it?
13pF9BYLHvQoAsAPkYYXAaTXrBiUE8BBVg  this is me (i think)  lol
edd
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June 21, 2013, 04:32:39 PM
 #23

ok.  i want to buy one bitcoin.  How do I do it?
13pF9BYLHvQoAsAPkYYXAaTXrBiUE8BBVg  this is me (i think)  lol

Find someone who is willing to take what you have to offer in exchange.

You can use an exchange site by creating an account and depositing funds (pesos, USD, whatever they accept) and then executing a trade.

Or you can look for someone physically close to you who has one to sell.

Or you can convince someone online to sell you one. You will probably be asked to provide some sort of proof that you will not reverse your payment once you have the bitcoin in your wallet.

Still around.
dirty dog
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June 21, 2013, 06:54:01 PM
 #24

Since you got a wallet address I assume you have figured out how to get wallet... Congrats

Have you tried typing " buy bitcoin in your Country" in google and see if you can find a local exchange or go to https://localbitcoins.com/
 
Let us know how it goes.
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