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Author Topic: Preferred method of buying Bitcoin??  (Read 2203 times)
ssnova
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June 10, 2016, 03:25:52 PM
 #1


I've been trying to read about "safe" "secure" and "mainstream" (lots of people use it, proves it works) ways of buying bitcoin. 

What's your opinion Coinbase?  I mention this because I've heard lots of horror stories pop up, even recently regarding hiccups and accounts being wrongfully charged or wrongfully closed, enough for me to think twice.


What do most of you all use?  There's also https://localbitcoins.com but I rather not deal in such ways.

I don't know, any how, what methods do you guys use that you consider reliable? safe?  That you've found relatively "dependable" so to speak?


I've been wanting to mine for years, but waited too long, and then boom!  Now bitcoin has taken off to extreme levels, and we're on the brink of the halving.. thus I at least rather have some then none by now.

Thanks in advance!
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June 10, 2016, 03:27:31 PM
 #2

If I cared about privacy I would not use coinbase.

Unfortunately if you really really care about privacy, there's nothing you can do beyond meeting IRL with a local trader, everything else is not really anonymous cause it goes outside of the BTC ecosystem (banks involved)

But if you are going to buy a small amount, then don't over think about it. No one really cares that you buy 1 BTC or something.
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June 10, 2016, 03:44:10 PM
 #3

I got mine from all my friends I do not trust coinbase I am not comfortable uploading all documents even if the site is trusted,it's much more better to buy in small amounts but to many people that you trust..

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June 10, 2016, 03:50:20 PM
 #4


I've been trying to read about "safe" "secure" and "mainstream" (lots of people use it, proves it works) ways of buying bitcoin. 

What's your opinion Coinbase?  I mention this because I've heard lots of horror stories pop up, even recently regarding hiccups and accounts being wrongfully charged or wrongfully closed, enough for me to think twice.


What do most of you all use?  There's also https://localbitcoins.com but I rather not deal in such ways.

I don't know, any how, what methods do you guys use that you consider reliable? safe?  That you've found relatively "dependable" so to speak?


I've been wanting to mine for years, but waited too long, and then boom!  Now bitcoin has taken off to extreme levels, and we're on the brink of the halving.. thus I at least rather have some then none by now.

Thanks in advance!
Try to buy at Xapo, i used xapo to buy my bitcoin that im storing for upcomming bitcoin halving. Just dont try buying at coinbase many stories are popping out that they have issues in buying bitcoins at coinbase, better not to risk you money their
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June 10, 2016, 03:55:08 PM
 #5

buy bitcoin from a trusted place/site/exchanger. and buy for cheaper price. local bitcoin is the most preferred place to buy bitcoin for me.
Even I didn't bought bitcoin ever, but if I need to buy I would buy from localbitcoin for sure. or I will buy from this forum's currency exchange section.

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June 10, 2016, 04:13:37 PM
 #6

If I cared about privacy I would not use coinbase.

Unfortunately if you really really care about privacy, there's nothing you can do beyond meeting IRL with a local trader, everything else is not really anonymous cause it goes outside of the BTC ecosystem (banks involved)

But if you are going to buy a small amount, then don't over think about it. No one really cares that you buy 1 BTC or something.


Yes, if you want to buy pretty anonymously, use localbitcoins, although where I live there are not very many reliable sellers.  Which is really too bad.  Maybe localbitcoins will get more participants as time goes by.

I can buy from a BTC ATM, but the premium has risen to a very high 14% over "spot", which is now just too high for me.

I also buy from circle.com, as they made it easy to sign up.  They use 2FA, and so far no problems.  My limit is a low $300 though.
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June 10, 2016, 04:23:14 PM
 #7

If you are afraid toe buy bitcoin in coinbase or localbitcoin there's an other way to buy bitcoins you can try perfect money buy funds in perfect money and you can convert it easy into business partner of perfect money that you can find here https://perfectmoney.is/business-partners.html
just choose high trusted score so that you are far in scammers..

Bitcoin will become stable soon and altcoin will keep increasing this coming months.
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June 10, 2016, 04:45:23 PM
 #8

You could register at bitstamp, but you have to give it KYC documents. Alternatively you could register at the Kraken and supply less information if you only want to do small buys. The kraken lets you do small wire transfers if you provide your address.

This is its KYC system

https://support.kraken.com/hc/en-us/articles/201352206-What-are-the-Verification-Tiers-

Quote
What are the Verification Tiers?

The law requires we know who you are and where you are. The more services you need, the more information we need to collect from you.

Tier 0 - you can look around but you can't deposit, withdraw or make any trades. You are required to provide your email address.

Tier 1 - you can deposit and withdraw in digital currency only. Trading, however, is enabled in digital as well as fiat currencies. You are required to provide your full name, date of birth, country and phone number.

Tier 2 - you can deposit, withdraw and trade in digital currency, and depending on your country of residence, fiat currency funding may be accessible to you. Bank deposits and withdrawals are available to clients in some areas at this tier and higher. You are required to provide your address.

Tier 3 - fiat currency funding is available to Tier 3 clients and funding limits are much higher than Tier 2. You are required to upload a valid Government ID and a recent proof of residence (can be uploaded under 'Get Verified' tab of your Kraken account).

Tier 4 - like Tier 3 but with even higher funding limits. There are both individual and corporate Tier 4 accounts. The required documents for Tier 4 individual accounts include a signed application form and KYC documents. The required documents for Tier 4 corporate accounts include a signed application form, a trade register extract, a certificate of incorporation, bylaws, an organizational chart, a written AML policy (if applicable) and KYC documents for Ultimate Beneficial Owners (UBOs).

Bitfinex is another alternative, but it also wants KYC documents for fiat wire transfers. Btc-e doesn't require KYC as far as I know, but this post warns you might get your bank account closed for wiring money to it.

Be careful with using btc-e from uk bank accounts. I've heard of people haveing their bank accounts closed and I also think btc-e is technically illegal to use in the uk because it doesn't comply with aml laws and other such rules. Are you just wanting to buy bitcoins?

Finally, you can buy through paypal using virwox, but the fees are high. This link explains the process.

https://www.deepdotweb.com/buy-bitcoins-with-paypal-credit-cards/
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June 10, 2016, 04:49:40 PM
 #9

I personally use localbitcoins.com and have very good experience with this but some time I like to use btc-e also because its also very good for me with few good payment methods coinbase and xapo both never been good for me as both need ID verification for this buy and sell
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June 11, 2016, 07:44:11 AM
 #10

I personally use localbitcoins.com and have very good experience with this but some time I like to use btc-e also because its also very good for me with few good payment methods coinbase and xapo both never been good for me as both need ID verification for this buy and sell
I never used localbitcoins or coinbase for buy or sell my bitcoin. They have really awful rates for transactions.

I am a small trader most of the time I used to buy forum currency exchange section. There have many trusted exchangers and also you can use escrow if you are new and rate is very reasonable.

I used cex.io when I need to buy bitcoin using my card and rate is preev rate. I don't recommended to use cex.io because I hear some horror story but nothing happened recently.
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June 11, 2016, 07:56:47 AM
 #11

Most time I prefer localbitcoins.com because at times you could get for a price less than price quoted by exchanges because it has got lot many traders who have different price margins.




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June 16, 2016, 02:43:42 PM
 #12

Most time I prefer localbitcoins.com because at times you could get for a price less than price quoted by exchanges because it has got lot many traders who have different price margins.

Thanks, looking in the forum now.  It's a bit crazy over there at the currency exchange, gotta research "skrill" and other things they use over there, a bit daunting.
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June 16, 2016, 06:13:30 PM
 #13

Most time I prefer localbitcoins.com because at times you could get for a price less than price quoted by exchanges because it has got lot many traders who have different price margins.
May i ask how to buy btc on localbitcoins and coinbase ?because i use the method on my country is buying butcpins on 7-11 which is directed to the local BTC wallet available to exchange btc to fiat vise versa.

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June 16, 2016, 06:31:52 PM
 #14

Most time I prefer localbitcoins.com because at times you could get for a price less than price quoted by exchanges because it has got lot many traders who have different price margins.

I also like localbitcoins and they are also the best with their dealers there, you can pick one out and they are also pretty secure if you are asking me.
Fee's are mostly also pretty low.
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June 16, 2016, 11:16:00 PM
 #15

I've used coinbase and it works fine. I have never tried localbitcoins but there are lots of people that say it works good and it's quicker. I'm sure there are other ways as well.
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June 16, 2016, 11:28:22 PM
 #16

It mostly depends on where you live. I would preferably buy from a company that is located where I live. and ofcourse do a thorough research on the company before purchase.
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June 17, 2016, 01:55:04 AM
 #17

It mostly depends on where you live. I would preferably buy from a company that is located where I live. and ofcourse do a thorough research on the company before purchase.

This is one of the best options indeed, I once did it at localbitcoins and I'm very happy with it, I still have contact with the dealer itself.
I met him in person and made a deal back in the days.
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June 17, 2016, 02:10:07 AM
 #18

It mostly depends on where you live. I would preferably buy from a company that is located where I live. and ofcourse do a thorough research on the company before purchase.

This is one of the best options indeed, I once did it at localbitcoins and I'm very happy with it, I still have contact with the dealer itself.
I met him in person and made a deal back in the days.

lmao you make it almost sound like a drug transaction "with the dealer" but i prefer LBTC as well for anonymity
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June 17, 2016, 03:56:32 AM
 #19

I use Circle and I trust them.

I used Coinbase until they nuked my account.   It was my fault.  I would trust them again.

I would buy bitcoin on this forum with escrow.  I don't trust anyone on this forum without it.

And even if you trust an exchange, don't keep your coins in their wallet.  Always use your own.

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June 17, 2016, 04:27:36 AM
 #20

CASH from a bitcoin atm.
Safest and most anonymous option if you ask me.
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