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Author Topic: Easiest way to convert money into BTC?  (Read 10575 times)
webtricks
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January 19, 2017, 11:26:35 AM
 #61

No, it is impossible to get Bitcoin for your own money without getting peep in by banking system.
However, only way is if you pay someone personally and he give you Bitcoin in return or EARN Bitcoin.
And if you say buying using Sms or something then banks hardly gonna patronize or endorse Bitcoin!

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January 19, 2017, 11:31:58 AM
 #62

I haven't sat and outright crunched the numbers, but it is a funny thing with both Paxful and Localbitcoins.  I used them for a long time to turn BTC into fiat(via Serve card) and always had the thought to start making trades the other way, fiat to BTC.  The reason for the desire was because I was "losing" money going from BTC to fiat. That really losing money, but getting less than $1 per $1, because of the fees each person charges, the cost of doing business.  So, logic would dictate that when I was ready and had the time I could trade the other direction and make money the same way as the people I was using.  The funny thing is that in order to compete in the areas I was going to service, I would end up losing money that way too.  

I trade on locabitcoins in small amounts and would rather pay more for an instant transaction than deal with copies of ID's and such, so I am paying a more "premium" fee and you should expect that too.  Localbitcoins is easy, it is fast and the escrow service makes it pretty safe, but to get the best price per BTC you have to be willing to do two things.

1. Jump through the hoops a particular seller may set.  This can mean copies of ID's sent or that a Paypal account be verified or whatever.

2. Shop at a different time of day.  

The second option can make the first go away.  There are many sellers out there that will buy and sell on these sites with complete anonymity, but no one is on there 24 hours a day.  The point is, if you rush the process of getting cash from BTC, you may pay a lot more and you may have to jump some hoops.

Paxful allows sellers to post without posting an escrow deposit.  If you find that you are not getting the types of trades you want or need, consider posting your own ad that works for you.  Just follow everything carefully and it is easy.
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January 19, 2017, 11:47:43 AM
 #63

(Assuming that your partner is not a BTC holder already, how do you have him exchange his money into BTC?)
Well, if he is your friend, then the easiest way to convert his fiat into bitcoin is to directly accepts his fiat if you are going to do your transaction personally and give him the bitcoin that he will buy to you. In this way he can easily have his bitcoin and start to do something to multiply it.

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January 19, 2017, 12:02:42 PM
 #64

Here in our country, even though bitcoin is not yet popular, there are many ways to exchange fiat into bitcoin because of our wallet provider. It gives us many options such as creating a request and pay it on a popular convenience store or the leading money remittance centers.

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January 19, 2017, 12:20:24 PM
 #65

and don't forget fees....every transfer you make on the chain very likely has a fee. i know that everyone wants to see some real cash in their hands that was bitcoin a few minutes back, but moving btc around from one exchange to another, one site to another will eat it up in fees.  plus, there are minimum withdrawals on almost every site, so you might move your btc to a site and find that you are under the limit.  research your options, read other people's opinions on the few options you settle on, ask another person and then, sleep on it, literally, make a choice and go to bed, prepared to act on it the next day.  Wake up and if you are still good to go, try it.  then, share your experience here and other places.  many times people find a thread asking their question, read to the end and find the op never came back and shared the results.
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January 19, 2017, 09:19:50 PM
 #66

But I cannot tell my IRL clients to use XAPO credit card for a purchase when they just want to buy a product. I think, getting a credit card that supports crypto has an overcomplicated process compared to the service that I have to offer. The same goes for localbitcoins. Doesn't that place work like the client has to choose a "nice" seller first, contact him, discuss with him ... etc.? I am looking for a more "automatic" solution.


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January 19, 2017, 09:43:05 PM
 #67

But I cannot tell my IRL clients to use XAPO credit card for a purchase when they just want to buy a product. I think, getting a credit card that supports crypto has an overcomplicated process compared to the service that I have to offer. The same goes for localbitcoins. Doesn't that place work like the client has to choose a "nice" seller first, contact him, discuss with him ... etc.? I am looking for a more "automatic" solution.

if a client is going to pay you in bitcoin, use a site like bitpay.  there is a POS option, or buttons for a webpage.  i do not endorse them, i just have used them.  there is another site that accepts both credit cards and bitcoin.  that solves any professional "payment" issues. 

if it is clients that have fiat and you want to supply them with bitcoin, welll, first legally you a msb license that makes you capable of general currency banking transaction, the license is cheap but you need to qualify for the license.

legal stuff being said, use both a service like paypal and one like bitpay.  have each funded and ready to send money.  the client pays you via paypal $10, once the transaction is complete you send them the bitcoins.  a basic level programmer can work this into a website.  the same can be done in reverse.  for a minimum programming approach that requires your attention to every TX, have both paypal and bitpay alert you via text message when a new transaction occurs.  make sure the web forms require either an email address for paypal or a bitcoin address for bitpay.  you get a text, check either pp or bp and then send the funds from the other account.

the above without a license is highly illegal.  if you never get web traffic you should be fine for sometime, but if your site becomes a success you will be quickly shutdown and never be able to even try for a banking license.  stick to localbitcoins and paxful, i am almost positive that each has a deep API and you can put your offers on your own site.  that allows you to build a rep on an established site and slowly start moving some of the traffic to your private site. 
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January 19, 2017, 09:48:38 PM
 #68

Coinbase, BTC-E, Bitstamp and a pretty bunch of other local exchanges and options, This excluding local and personal deals like LBC and paxful which is actually becoming more popular than the traditional official website trading etc...
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January 19, 2017, 09:53:03 PM
 #69

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.

There is one website working exactly like this .... You send a SMS or call a number and you get a code. Once you redeem the code you receive your BTC into your wallet (after some hours as they do this manually and there are 2 guys only). I don't remember the name but i can find it if you want, it's not an english website so a problem could be, foreign countries can't use the number to call.
Usually paying anything with SMS or call is at an outrageous price btw

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January 19, 2017, 09:54:58 PM
 #70

Coinbase, BTC-E, Bitstamp and a pretty bunch of other local exchanges and options, This excluding local and personal deals like LBC and paxful which is actually becoming more popular than the traditional official website trading etc...

paxful is getting the attention because someone can make their own ad without depositing anything other than what is needed for the ad.  search engines spit back localbitcoins and paxful and a person that wants to start using a site as more of a business than a client sees a $400 deposit at lbc versus $0 at pax
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January 19, 2017, 10:01:21 PM
 #71

Well for me, LocalBitcoins works better than any other option. Simply send out the payment through bank, and get your bitcoins safely with an escrow.


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January 19, 2017, 10:03:53 PM
 #72

Well for me, LocalBitcoins works better than any other option. Simply send out the payment through bank, and get your bitcoins safely with an escrow.

paxful has a set of unspoken, i mean utterly unspoken and ever changing rules.  for about three weeks, if you tried to trade less than $5 an alert said there was a $5 limit and you could not do it.  the funny thing was that you could click an offer for $1-5 and get that message, meaning that person had their offer nullified.  a week later, no limits, don't take them too seriously and they can be a good site, but i prefer lbc too
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January 19, 2017, 10:06:40 PM
 #73

I personally use LocalBitcoins for such exchanges.
I always exchange with top rated and top trusted members so my experience so far is great.
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January 19, 2017, 10:10:21 PM
 #74

I personally use LocalBitcoins for such exchanges.
I always exchange with top rated and top trusted members so my experience so far is great.

omg, that is where i used to be.  for lbc, my computer crashed and i used winauth for 2fa, so that was either wait 2 weeks or....... so i had a good rep on there and i still have to pick through that hard drive for the key

paxful....same thing, but for a phone.  i changed service carriers for my phone, they asked me if i wanted to keep my old number, i thought for a minute and said "no" figuring every few years a new number is nice....and, yep, paxful sends to login 2fa to the number i just gave up....another nicely cultured account..gone
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January 20, 2017, 02:44:53 AM
 #75

I personally use LocalBitcoins for such exchanges.
I always exchange with top rated and top trusted members so my experience so far is great.
In our country stores are accepting money to convert in into bitcoin and goes to our wallet. It is very convenient and ni hassle onnce you give the receipt to the cashier and pay it you can have your bitcoin into your wallet. And sometimes I buy bitcoins using my bank funds our bitcoin wallets to are accepting banks funds to trade it in bitcoin. And I can say that is the easiest way to convert money in bitcoin.


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January 20, 2017, 02:55:01 AM
 #76

I personally use LocalBitcoins for such exchanges.
I always exchange with top rated and top trusted members so my experience so far is great.
In our country stores are accepting money to convert in into bitcoin and goes to our wallet. It is very convenient and ni hassle onnce you give the receipt to the cashier and pay it you can have your bitcoin into your wallet. And sometimes I buy bitcoins using my bank funds our bitcoin wallets to are accepting banks funds to trade it in bitcoin. And I can say that is the easiest way to convert money in bitcoin.

as far as anonymity, cash to btc connections made on sites like localbitcoins is ideal.  we are just not to the point where most areas have enough supply and demand for it to be 100% in person cash deals, we are getting there.  other than protecting your yourself in a public meeting, this is a nice clean way to exchange and clean medium to small amounts of money. 
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January 20, 2017, 06:23:47 AM
 #77

Coinbase, BTC-E, Bitstamp and a pretty bunch of other local exchanges and options, This excluding local and personal deals like LBC and paxful which is actually becoming more popular than the traditional official website trading etc...

paxful is getting the attention because someone can make their own ad without depositing anything other than what is needed for the ad.  search engines spit back localbitcoins and paxful and a person that wants to start using a site as more of a business than a client sees a $400 deposit at lbc versus $0 at pax
i think in ever country there are different exchanges through which people are exchanges their bitcoin into fiat currencies. similarly in my country i am using Urdubit.com exchange. i am using this exchange for a long time and for every time i found it good and without any issue.
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January 20, 2017, 06:27:16 AM
 #78

Coinbase, BTC-E, Bitstamp and a pretty bunch of other local exchanges and options, This excluding local and personal deals like LBC and paxful which is actually becoming more popular than the traditional official website trading etc...

paxful is getting the attention because someone can make their own ad without depositing anything other than what is needed for the ad.  search engines spit back localbitcoins and paxful and a person that wants to start using a site as more of a business than a client sees a $400 deposit at lbc versus $0 at pax
i think in ever country there are different exchanges through which people are exchanges their bitcoin into fiat currencies. similarly in my country i am using Urdubit.com exchange. i am using this exchange for a long time and for every time i found it good and without any issue.

i wish these site developers would employ a little php scripting, lol.  it is easy to tell a website to not display or to reroute using location, ip location or other factors.  that way you wouldn't get to the very end of registering on a site to find out they do not service your country
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January 20, 2017, 06:31:13 AM
 #79

I use localbitcoins, pretty simple and straight forward

Buying at exchanges can be better, cheaper than localbitcoin, the buy price on localbitcoin is higher than exchange, the sell price is lower, and many scammers with gun may rob us. I prefer buying on exchanges, not offline exchanges.
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January 20, 2017, 07:12:45 AM
 #80

Well, the easiest way is by exchanging it in the exchanger. it is the easiest and reliable which is still used today. you just need a bit of courage to do so. if you are free to exchange it because it does not believe in the site, or the exchanger, you can try it out with a small amount

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