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Author Topic: New to Bitcoins and Got some Questions, Please  (Read 688 times)
orange1kb (OP)
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August 22, 2016, 11:04:52 PM
 #1

I've been reading some online posts and I'm getting ready to purchase my first bitcoins. Can someone please answer the questions below before I head out to a bitcoin atm?

    1.All of my purchases will be over the internet such as paying for a VPN. I don't see myself doing front facing transactions. Do you guys recommend just sticking with a desktop app such as Bitcoin Core (I have Windows). Is having a mobile app (Copay) more easier to purchase Bitcoin over an ATM?

    2.The closest ATM to me is a Genesis Coin ATM. If I dl Copay should I be good to go?

    3.Anything else I should know about?

pedrog
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August 23, 2016, 08:33:18 AM
 #2

To buy bitcoin at a bitcoin ATM you just need cash and a QR code bitcoin address.

I advise you to use Blockchain.info wallet, before transfer any bitcoin or a significant value to an address be sure you understand how the wallet works and make a backup of the address/wallet, if you lose your phone/computer you cannot lose your coins.

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August 23, 2016, 08:50:02 AM
 #3

What makes you feel the need to use an ATM instead of a peer to peer site like localbitcoin.com or an exchange like coinbase.com? Have you already set up a wallet in order to receive the funds?

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mishra1994u
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August 23, 2016, 08:53:36 AM
 #4

What makes you feel the need to use an ATM instead of a peer to peer site like localbitcoin.com or an exchange like coinbase.com? Have you already set up a wallet in order to receive the funds?
Yes i think that is more comfortable and easy to use.As you are new to it you can buy bitcoins online from exchange like localbitcoins or any other reputed exchange that works in your country.Then you can transfer them to wallets (blockchain wallet will be the best ).
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August 23, 2016, 10:05:26 AM
 #5

I've been reading some online posts and I'm getting ready to purchase my first bitcoins. Can someone please answer the questions below before I head out to a bitcoin atm?

    1.All of my purchases will be over the internet such as paying for a VPN. I don't see myself doing front facing transactions. Do you guys recommend just sticking with a desktop app such as Bitcoin Core (I have Windows). Is having a mobile app (Copay) more easier to purchase Bitcoin over an ATM?

    2.The closest ATM to me is a Genesis Coin ATM. If I dl Copay should I be good to go?

    3.Anything else I should know about?



Hi, if you want to purchase BTC from ATM you should have a mobile wallet installed on your phone.  This because you need to provide QR code of your address (where you want to receive the BTC) otherwise (in case you are using only desktop wallet) you has to print the QR code ... this is not practical at all.
I'm using mycelium as mobile wallet but copay is good enough. You should be fine.

Alternate option is localbitcoins as stated above. You can find trader with same bank or meet them personally and buy BTC for cash ... all depends on your location.

The most convenient way is to buy using CC. But you have to verify your ID and count with higher fees. I have good personal experience with coinbase.


WiseOldSage
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August 23, 2016, 06:47:38 PM
 #6

    3.Anything else I should know about?

There are many, many threads opened in this section of the forum that compile most popular advice for newbies. This sticky has all the links to them, feel free to research in depth.
ResellerDoctor.com
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August 23, 2016, 07:53:20 PM
 #7

I've been reading some online posts and I'm getting ready to purchase my first bitcoins. Can someone please answer the questions below before I head out to a bitcoin atm?

    1.All of my purchases will be over the internet such as paying for a VPN. I don't see myself doing front facing transactions. Do you guys recommend just sticking with a desktop app such as Bitcoin Core (I have Windows). Is having a mobile app (Copay) more easier to purchase Bitcoin over an ATM?

    2.The closest ATM to me is a Genesis Coin ATM. If I dl Copay should I be good to go?

    3.Anything else I should know about?



Hi, if you want to purchase BTC from ATM you should have a mobile wallet installed on your phone.  This because you need to provide QR code of your address (where you want to receive the BTC) otherwise (in case you are using only desktop wallet) you has to print the QR code ... this is not practical at all.
I'm using mycelium as mobile wallet but copay is good enough. You should be fine.

Alternate option is localbitcoins as stated above. You can find trader with same bank or meet them personally and buy BTC for cash ... all depends on your location.

The most convenient way is to buy using CC. But you have to verify your ID and count with higher fees. I have good personal experience with coinbase.


There is also the option of Indacoin. They don't request any ID verification: https://indacoin.com/verification
orange1kb (OP)
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August 23, 2016, 09:03:07 PM
 #8

Thanks everyone for your helpful knowledge! 

I purchased my first Bitcoin today.  I used blockchain and screenshot my QR barcode to my cell phone.  When I got to the atm it asked for my cell phone number for verification.  I put in my number and purchased $60 worth of bitcoins to purchase my VPN & Usenet service.  Fees are a bit high.  Considering that I use my cell phone I guess my transaction with the VPN & Usenet company won't truly be anonymous, will it?   
pedrog
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August 24, 2016, 01:44:22 PM
 #9

Thanks everyone for your helpful knowledge! 

I purchased my first Bitcoin today.  I used blockchain and screenshot my QR barcode to my cell phone.  When I got to the atm it asked for my cell phone number for verification.  I put in my number and purchased $60 worth of bitcoins to purchase my VPN & Usenet service.  Fees are a bit high.  Considering that I use my cell phone I guess my transaction with the VPN & Usenet company won't truly be anonymous, will it?   

It will be anonymous to the vast majority of the world.

If you're being target by agencies with the power to break this kind of anonymity you need to learn a lot more stuff.

Also, you can 'mix' those coins.

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