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Author Topic: Easiest way to convert money into BTC?  (Read 10575 times)
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January 17, 2017, 03:46:24 PM
 #1

I have met with this problem several times and many others too met with this problem. We consider global accessibility a great advantage of BTC with very good reason. Technically, BTC is available from anywhere, anytime. The issue is coming down to communication. Assuming that your partner is not a BTC holder already, how do you have him exchange his money into BTC?

Even when BTC has these advantages, other payment processors have not and when people have to exchange money from any other payment processor into BTC, transaction issue comes from the other payment processor like PP holding back money or certain banks do not execute transactions in certain time intervals. How do we get around this?

I thought a payment processor where you can pay with a simple SMS or call from your phone credits and receive some BTC would be very useful.


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January 17, 2017, 04:00:24 PM
 #2

I have met with this problem several times and many others too met with this problem. We consider global accessibility a great advantage of BTC with very good reason. Technically, BTC is available from anywhere, anytime. The issue is coming down to communication. Assuming that your partner is not a BTC holder already, how do you have him exchange his money into BTC?

Even when BTC has these advantages, other payment processors have not and when people have to exchange money from any other payment processor into BTC, transaction issue comes from the other payment processor like PP holding back money or certain banks do not execute transactions in certain time intervals. How do we get around this?

I thought a payment processor where you can pay with a simple SMS or call from your phone credits and receive some BTC would be very useful.

You are always going to depend on the banking system if you want to convert fiat into BTC, if by "money" you mean fiat, so you are going to deal with all the inconveniences of the banking system, there is no way around it.

The only way to bypass it would be to work and get paid in BTC directly.

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January 17, 2017, 04:02:04 PM
 #3

I thought a payment processor where you can pay with a simple SMS or call from your phone credits and receive some BTC would be very useful.
Actually legal restrictions in many country have limited many payment processors and bank to have this feature.

Bitcoin is anonymous and government will try to just ignore it and even if they have to accept it as new way to do financial transactions they try to regulate trading platform and services that buy/sell bitcoin.

Foreign currency rules and money laundering is big hurdle bitcoin exchange/trading platform have to tackle to allow anyone to purchase bitcoin easily and conveniently.


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January 17, 2017, 04:05:24 PM
 #4

Bitcoin is the easiet way to use some money for transactions. I recommend you to convert money to Bitcoin by using legal transactions such as going to stores or other establishment that convert money to bitcoin. I suggest the stores that are well known and trusted to avoid scamming and loosing a lot of money.

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January 17, 2017, 04:08:22 PM
 #5

I have met with this problem several times and many others too met with this problem. We consider global accessibility a great advantage of BTC with very good reason. Technically, BTC is available from anywhere, anytime. The issue is coming down to communication. Assuming that your partner is not a BTC holder already, how do you have him exchange his money into BTC?

Even when BTC has these advantages, other payment processors have not and when people have to exchange money from any other payment processor into BTC, transaction issue comes from the other payment processor like PP holding back money or certain banks do not execute transactions in certain time intervals. How do we get around this?

I thought a payment processor where you can pay with a simple SMS or call from your phone credits and receive some BTC would be very useful.

you can use XAPO credit card or cryptopay.me credit card to buy bitcoin from them . it's easy to use these wallets to exchange bitcoin from fiat.
You should try it now.
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January 17, 2017, 04:13:54 PM
 #6

Actually people from third world country don't have opportunity to buy bitcoin easily from any of the bitcoin trading platform like coinbase. Coinbase still don't support many developing countries also in localbitcoins usually deals for this countries are really expensive to buy from using local bank transfer.

However in european countries and china anyone can buy bitcoin or sell it quickly for profit or just buy and hold for long term with peace in mind. This have created a sense of "bitcoin is actually only made for developed countries, Tier-1 countries".  Angry



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January 17, 2017, 04:17:47 PM
 #7

In my country you have the odd Bitcoin vending machine, but they only allow you to convert limited quantities. The biggest obstacle in

mainstream adoption, would be the involvement of the banks. The governments and the banks seem to be working together to place

obstacles {red tape} in Bitcoin's way to slow down adoption. { Examples : BitLicense & KYC/AML regulations }

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January 17, 2017, 04:26:26 PM
 #8

Actually people from third world country don't have opportunity to buy bitcoin easily from any of the bitcoin trading platform like coinbase. Coinbase still don't support many developing countries also in localbitcoins usually deals for this countries are really expensive to buy from using local bank transfer.

However in european countries and china anyone can buy bitcoin or sell it quickly for profit or just buy and hold for long term with peace in mind. This have created a sense of "bitcoin is actually only made for developed countries, Tier-1 countries".  Angry
You can always work online to get bitcoin, if you're unable to buy.
 it's easy for me to buy bitcoins, i use localbitcoins and kraken to buy coins. localbitcoins is the fastest and easiest way to buy bitcoins.

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January 17, 2017, 04:41:26 PM
 #9

I have a suggestion for you. Find out some people in your country(facebook group is best)who like to earn bitcoin and spent them in many ways. You can easily buy bitcoin using using your local currency. Usually i am doing this. I have found a great Facebook group about buy sell bitcoin in my county and group admins are very trustfuly. Now  I can easily buy bitcoin  using my local curency. Smiley

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January 17, 2017, 04:44:26 PM
 #10

Although I don't have much experience with it the most convenient way would seem to be using localbitcoins. You have cash, they have bitcoin, you meet and exchange. Simple. Easiest way if your money is in a bank? Using an online exchange.
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January 17, 2017, 04:55:29 PM
 #11

I think its majorly dependent on the locality of residence and the laws of surrounding such venture in that particular place whether strict or relaxed. Over here we have localbitcoin which is popular all over at the same time we have some exchange site of individuals who can convert buy and sell bitcoin automatically the way the site is configured and its connected to bank accounts and its even stress free. But the issue there is one needs to be more careful on the site to visit as there are a lot of scammers around looking for who to prey on.

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January 17, 2017, 05:00:59 PM
 #12

Here in my country I can easily convert my bitcoins to local currency or local currency to bitcoin. We have a wallet particularly only on our country that are affiliated with many remitance center and stores here in our places , thats why it is easy for us to convert here

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January 17, 2017, 05:10:46 PM
 #13

Here in my country I can easily convert my bitcoins to local currency or local currency to bitcoin. We have a wallet particularly only on our country that are affiliated with many remitance center and stores here in our places , thats why it is easy for us to convert here
Here in my country central bank has warned against dealing in Bitcoin, saying anybody caught using the virtual currency could be jailed.Though the situation serious here but nothing hampered to activity convert local currency to BTC or BTC to local currency.Exchange are smoothly going on.

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January 17, 2017, 06:10:07 PM
 #14

Here in my country I can easily convert my bitcoins to local currency or local currency to bitcoin. We have a wallet particularly only on our country that are affiliated with many remitance center and stores here in our places , thats why it is easy for us to convert here
Here in my country central bank has warned against dealing in Bitcoin, saying anybody caught using the virtual currency could be jailed.Though the situation serious here but nothing hampered to activity convert local currency to BTC or BTC to local currency.Exchange are smoothly going on.

These threats often happens in various governments and finally users won't be affected much in this regard, because they still continue to use in one or other way. Even in china exchanges has started to run after an issue and several other exchanges were existing in several countries to ease the conversion and support bitcoin growth.


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January 17, 2017, 06:18:08 PM
 #15

there are countless places to buy and sell BTC, have you even tried any of them? 
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January 17, 2017, 06:21:17 PM
 #16

buy gift cards or use local bitcoins
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January 17, 2017, 08:41:28 PM
 #17

I use localbitcoins, pretty simple and straight forward

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January 17, 2017, 09:06:43 PM
 #18

You are always going to depend on the banking system if you want to convert fiat into BTC, if by "money" you mean fiat, so you are going to deal with all the inconveniences of the banking system, there is no way around it.

The only way to bypass it would be to work and get paid in BTC directly.

Yeah. I mean "fiat" and fiat->BTC conversion and how it limits the possibilities from the fiat side. So, basically, to get around this problem, I should have people do work for me so that I could pay to them directly in BTC. Giving good jobs to people is not an easy job, just look at how much governments have been successful with it so far lol.


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morantis
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January 17, 2017, 09:21:04 PM
 #19

You are always going to depend on the banking system if you want to convert fiat into BTC, if by "money" you mean fiat, so you are going to deal with all the inconveniences of the banking system, there is no way around it.

The only way to bypass it would be to work and get paid in BTC directly.

Yeah. I mean "fiat" and fiat->BTC conversion and how it limits the possibilities from the fiat side. So, basically, to get around this problem, I should have people do work for me so that I could pay to them directly in BTC. Giving good jobs to people is not an easy job, just look at how much governments have been successful with it so far lol.

again, everything that everyone has says still applies.  go buy a serve card for cash and use localbitcoins to trade that for BTC, less than thirty minutes
calkob
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January 17, 2017, 09:33:34 PM
 #20

The problem is that currently most exchanges have to get information on their customer for money laundering reason or face going to jail, its that simple.  i agree currently it is not that easy to get fiat into BTC but hopefully in the future it will get better, but i cant see it ever being anonymous .
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