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Author Topic: Bitcoins and Money Orders  (Read 1289 times)
herbertfilby
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June 11, 2011, 08:55:02 PM
 #1

One of the biggest barriers to getting into bitcoins is the tedious process of going through several payment processors to actually get the bitcoins... Besides cash itself, the other alternative I can see would be money orders where you know that you can cash it without having to worry about check fraud and waiting for it to clear.

So, why don't more exchanges have this as an option?
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Stephen Gornick
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June 11, 2011, 10:05:43 PM
 #2

One of the biggest barriers to getting into bitcoins is the tedious process of going through several payment processors to actually get the bitcoins... Besides cash itself, the other alternative I can see would be money orders where you know that you can cash it without having to worry about check fraud and waiting for it to clear.

So, why don't more exchanges have this as an option?

Money orders, like checks and other demand instruments, are reversible (in certain circumstances), while bitcoins on the other hand, are not.
  "A money order can be lost or stolen and there are procedures for reporting that. Losses could occur even weeks after the check has cleared"
  - http://en.bitcoin.it/wiki/Payment_methods
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May 03, 2018, 01:53:08 PM
 #3

To my mind, if we want to call bitcoin the strongest payment currency, it has to get much more stable.

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Xester
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May 05, 2018, 06:00:32 AM
 #4

One of the biggest barriers to getting into bitcoins is the tedious process of going through several payment processors to actually get the bitcoins... Besides cash itself, the other alternative I can see would be money orders where you know that you can cash it without having to worry about check fraud and waiting for it to clear.

So, why don't more exchanges have this as an option?

Possibly in your country you have a hard time to get and purchase bitcoins but in our country it is just a matter of minutes. In the Philippines we have the coins.ph bitcoin exchange wherein it has a feature that you can buy bitcoins at the remittance centers and banks and after the deposit the bitcoin will be credited on your balance in just minutes. Pretty cool isnt it.

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May 05, 2018, 06:44:56 AM
 #5

Possibly in your country you have a hard time to get and purchase bitcoins but in our country it is just a matter of minutes. In the Philippines we have the coins.ph bitcoin exchange wherein it has a feature that you can buy bitcoins at the remittance centers and banks and after the deposit the bitcoin will be credited on your balance in just minutes. Pretty cool isnt it.
Look at the date of the OP, it is way back 2011 and by that time, It is hard to purchase bitcoins everywhere. For your information, coins.ph was founded on March 20, 2014 according to coindesk. It is probably harder to buy bitcoins by that time in the Philippines when compared to OP's hometown(assuming he doesn't live in the same country as yours) ain't it? Considering OP hasn't come back for a long time to check his thread, it is safe to assume that it is also easy to buy btc in his hometown right now.
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May 17, 2018, 09:41:19 AM
 #6

True, OP is quite old, but it is still can be useful for some people.

It is rather a question of how much information you are ready to provide to buy cryptocurrency. The bigger amount of crypto requires complete verification and a bank account. If you are ok with buying little amounts of crypto, then buying with both cash and credit or debit cards is easy and fast. If you are considering a purchase of large amount, it would be better to make it with bank account or bank transfer.

Here are some good ways to buy large amount of crypto https://www.buybitcoinworldwide.com/buy-bitcoin-bank-transfer-account/
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May 17, 2018, 09:49:31 AM
 #7

It's true that a fairly slow process is so boring, but we can use a voucher to melt faster on fiat money, and that's great.
Roboabhishek
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May 17, 2018, 12:00:23 PM
 #8

It's true that a fairly slow process is so boring, but we can use a voucher to melt faster on fiat money, and that's great.

One of the biggest issues with making it convenient and quick to buy bitcoins is the fact that most of the payments are irreversible whilst bitcoin and other cryptocurrencies are not. Many exchanges are trying to save themselves the hassle by using the most secure payment options which usually result in a bit more inconveniences. However, as its becoming easier and easier to trace people down I believe soon it will be easy to purchase bitcoins almost as easy as buying gift cards, or some shopping online.
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June 13, 2018, 07:05:51 PM
 #9

Luckily, quys, I've recently heard about Paytomat. Paytomat will streamline the process of accepting the payment in crypto for the merchant, and give an extra incentive for the customer to pay in crypto of their choice with no extra conversion. This will bring liquidity to cryptocurrencies.
AngelSky
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June 13, 2018, 07:14:39 PM
 #10

One of the biggest barriers to getting into bitcoins is the tedious process of going through several payment processors to actually get the bitcoins... Besides cash itself, the other alternative I can see would be money orders where you know that you can cash it without having to worry about check fraud and waiting for it to clear.

So, why don't more exchanges have this as an option?

For encashing the money most of the people go with the local exchanges do that work but if you want to convert the bitcoin into cash you can always use the localbitcoins.com as the way pipeline for it bro.
Then you cannot find the many exchanges with that option due to they are operating with the decentralized medium mate.


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June 15, 2018, 12:26:07 PM
 #11


I think it needs more to become a payment currency
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June 15, 2018, 02:29:55 PM
 #12

I think a lot of exchanges don't have fiat option because of the legal routine it entails. If you use fiat, you need to pay taxes and register everything officialy, while as crypto is unregulated in most countries you can easily evade it if all operations are in crypto.

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June 21, 2018, 04:47:50 PM
 #13

In my opinion, if you say bitcoin is a good cryptocurrency and it's very stable. Very strong payment currency.
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July 06, 2018, 08:56:55 AM
 #14


Bitcoin is a very good paying currency, but requires it to be much more, it needs to be more stable, pay more quickly
Baofeng
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September 16, 2018, 08:41:20 AM
 #15

One of the biggest barriers to getting into bitcoins is the tedious process of going through several payment processors to actually get the bitcoins... Besides cash itself, the other alternative I can see would be money orders where you know that you can cash it without having to worry about check fraud and waiting for it to clear.

So, why don't more exchanges have this as an option?

I mean this is how bitcoin is design, no third party so the scenario you pictured is already happening. And this is the back bone of exchanges, so no need to offer this as options or something. I lived in a country wherein its easy to convert bitcoin to fiat, so problem solved. But I agree that bitcoin can be used as cross border payments specially in the Asian region and most countries in Africa. Imagine just one country in Asia which remittances amounted to billions of USD, crypto is truly one amazing invention.

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September 16, 2018, 08:45:44 AM
 #16

I think that bitcoin is a digital currency that has value and is a money order that has been spinning in trade.
The market has become a very lively exchange and a large community.

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September 16, 2018, 08:51:20 AM
 #17

One of the biggest barriers to getting into bitcoins is the tedious process of going through several payment processors to actually get the bitcoins... Besides cash itself, the other alternative I can see would be money orders where you know that you can cash it without having to worry about check fraud and waiting for it to clear.

So, why don't more exchanges have this as an option?
Some easier options are been introduced by various exchanges so it really goes much easy.
We can actually cashout btc to directly INR without any hesitation so that is not actually the problem.
Some exchanges like wazirx do have P2P trading system which really makes it much easy for converting some bitcoins to cash whenever needed.
We still look forward for some more east ways. Your method is not completely understandable to me.














 

 

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demenBTC
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September 16, 2018, 12:41:38 PM
 #18

One of the biggest barriers to getting into bitcoins is the tedious process of going through several payment processors to actually get the bitcoins... Besides cash itself, the other alternative I can see would be money orders where you know that you can cash it without having to worry about check fraud and waiting for it to clear.

So, why don't more exchanges have this as an option?
in my country I have never experienced obstacles to buying bitcoin and exchanging it as fiat money, the security option in the transaction is very safe because through various confirmations, the speed only takes a few minutes

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September 16, 2018, 01:12:39 PM
 #19

Bitcoins are now available in currencies such as dollars or can be purchased by exchanging some of the deals and accepting deals with bitcoins such as ethereum.
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September 16, 2018, 02:28:38 PM
 #20

I believe that the legal aspect is one of the reasons why Bitcoin is not easily accessible for everyone even after 7 to 9 years. In most of the countries, Bitcoin & cryptocurrencies are still in the grey area which is not preferred by the businesses to get involved with it in that sector and it restricts the growth in some way. However, legalization would definitely boost the ground level use of it and indirectly the accessibility for the end users.

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