$5000 to buy BTC's

[seza]

Hi all,

This is a great forum - a big thank you to all those that make it possible,
please forgive me if similar topic has been discussed before:
I have about $5000 fund in a US bank but I am not based in the US,
I would like to buy BTC's to keep and may be to spend if need be,

Can someone please advise as to the most secure and cheapest way of converting my hard earned $'s to BTC's,
It seems like a minefield out there for new comers to the Bitcoin business.

Also may be links to some unbiased good reads about all aspects of BTC/Blockchain .

Your help is greatly appreciated.

[Amph]

if you are not based in the usa but europe then Kraken is the best, but there is a limit of 2k usd without verification(only address verification no id or proof of residency)

[Muhammed Zakir]

You can use Circle or Coinbase to buy Bitcoin using US dollar. AFAIK they are best exchanges for buying with USD.

For studying about Bitcoin, see:

 • White paper: https://bitcoin.org/bitcoin.pdf
 • Best site for knowing protocol and other things: http://bitcoin.org
 • Best site for newbies: https://www.weusecoins.com/
 • Bitcoin Wikipedia*: https://en.bitcoin.it/

* Some of the articles in Bitcoin wikipedia is a bit outdated.

[jacktheking]

If you are from Asia, OKCoin might be your best choice. If not, why not check out LocalBitcoin to see if anyone in your country want to sell Bitcoin.

[Chavez]

There are plenty of exchanges you can use and some have been mentioned above but you can also buy coins easily from the currency exchange on this very board. Jusy use escrow and deal with a reputable trader or you'll likely be scammed otherwise.

[Gianluca95]

Hi all,

This is a great forum - a big thank you to all those that make it possible,
please forgive me if similar topic has been discussed before:
I have about $5000 fund in a US bank but I am not based in the US,
I would like to buy BTC's to keep and may be to spend if need be,

Can someone please advise as to the most secure and cheapest way of converting my hard earned $'s to BTC's,
It seems like a minefield out there for new comers to the Bitcoin business.

Also may be links to some unbiased good reads about all aspects of BTC/Blockchain .

Your help is greatly appreciated.

Hi.

Have you tried to check if BitStamp (which is located in Europe) can allow you to deposit in its Exchange?

You can also try BIT-X which is located in Panama (and accept USD)

[ensurance982]

...
I have about $5000 fund in a US bank but I am not based in the US,
...

One interesting fact: It's generally more difficult for people in the US to buy Bitcoin than at other places, especially in Europe. The US still have some quite strict regulations and many exchanges choose not to jump through all those hoops. Though times are changing at the moment!

[seza]

Thank you all for your constructive replies.

[Kakmakr]

You have a account in one of the most regulated countries in the world. How do you keep that account from going dormant? It seems as though you still have access to the account, but you not allowed to move that money?
Do you want to exchange it to Bitcoin to enable you to move it more easily or at a lower fee? 

[BIT-Sharon]

Mt.Gox may be better.

[seza]

Kakmkr,

Long story, the fund comes from property investment I have there for few years,
it is not in my name.
to answer your question ... yes converting the fund to BTC allows me to use and spend that money easier.
BIT-sharon: I thought MT-Gox gone or are they still trading?

[Elwar]

Coinbase is the easiest in the US. You can have your Coinbase account linked to your bank account in minutes and make the purchase.

[countryfree]

Use several exchanges. 4 would be nice, not to get noticed.

[Lauda]

-snip-
BIT-sharon: I thought MT-Gox gone or are they still trading?

Mt.Gox was a scam and it is gone for a while now.

Mt.Gox may be better.

Don't make such jokes as there are people who don't know what happened.

Coinbase is the easiest in the US. You can have your Coinbase account linked to your bank account in minutes and make the purchase.

I'd recommend Coinbase too or Bitstamp. I'm based in Europe and had no problems verifying and depositing/withdrawing money. Bitstamp is among the best if you ask me.

[crazyivan]

If you are in the US, then Coinbase. If you re in the EU, use Bitstamp.

All in all, you cannot make a huge mistake, whatever of these reputable companies you having in mind the amount you plan to use, differences should be minimal.

[AtheistAKASaneBrain]

if you are not based in the usa but europe then Kraken is the best, but there is a limit of 2k usd without verification(only address verification no id or proof of residency)

Then he could create 3 accounts and and do 2k, another 2k in another account and then 1K again in another account, ideally using VPN or something on each different account. Problem solved.

[Amph]

if you are not based in the usa but europe then Kraken is the best, but there is a limit of 2k usd without verification(only address verification no id or proof of residency)

Then he could create 3 accounts and and do 2k, another 2k in another account and then 1K again in another account, ideally using VPN or something on each different account. Problem solved.

yeah sure, but you need a different debit/credit cards for each account, and you must provide your real name, the one attached to the card, so no, it's not possible

[ChuckBuck]

Whatever you do, don't transact that amount of money using LocalBitcoins.

Alot of people have been arrested for money laundering and operating as an illegal unlicensed money transmitter using LBC for large amount of BTC.

Stick to the compliant exchanges like Coinbase, Circle, BitStamp, Bitfinex, Kraken, etc for large sums.

[freemind1]

Hi seza, with yacuna.com no problems, you need identity verification. You can also do it in ATMs , but the daily and monthly amount is very small, about 600 USD a day (in my country). In xapo.com also need identity verification. In Payza.com also need to verify your identity and you can only withdraw 20k USD per transaction.