BTC Purchase Directly now possible :D

[Blackshadow007]

May be good news for Indians .. I just got email of this update from Bitstamp

Dear customers,

There's a lot happening at Bitstamp right now!

As you know, XRP trading is now in full swing and debit/credit card purchases were extended last week to USD 5,000/EUR 5,000 daily and USD 20,000/EUR 20,000 monthly. But that's not all!

With Visa and MasterCard debit and credit card purchases for bitcoin already possible throughout the EU-28, we have now expanded Bitstamp's debit/credit card purchasing functionality to include the following countries:

Switzerland, Norway, Monaco, Montenegro, Serbia, Turkey, Andorra, Moldova, Gibraltar, Iceland, Greenland, Liechtenstein, Isle of Man, Faroe Islands, Aland Islands, San Marino, Hong Kong, China, Singapore, Taiwan, South Korea, Australia, New Zealand, Japan, Argentina, Brazil, Israel, Sou th Africa, Chile, Kuwait, Cayman Islands, Qatar, Saudi Arabia, India, Lebanon, Puerto Rico, Peru, Madagascar, Mozambique, Dominican Republic, Curacao, Dominica, Jordan, the Bahamas, Bahrain, French Polynesia, Ecuador, Trinidad and Tobago, Barbados, Reunion, Jamaica, Paraguay, Brunei, New Caledonia, Guadeloupe, Martinique and Sint Maarten.

This means that if you are in the EU 28 or any of the countries listed above, you can now purchase bitcoin instantly using your Visa or MasterCard credit/debit card!

Only a one-time verification of your card details is required before instant bitcoin purchases on Bitstamp are yours. This service has been brought to you in cooperation with our partner, Simplex. For further information, please contact our support team at support@bitstamp.net .

As ever, thank you for your continued support - it means a great deal to us - and please stay tuned for further announcements!

Best,

Nejc Kodric
CEO, Bitstamp

[nizamcc]

After card purchases are done, won't they ask for id verification in case of withdrawals?
I think that if this is going to happen, Indians are surely going to make something big on this including me.
I had been waiting for such a chance and seems like my wish has become true, we can finally purchase it at International rates.

[erikalui]

Finally an international exchange accepts INR (if that what the mail implies) and bitstamp is the best possible site we can buy bitcoins from. I was thinking to trade on international exchanges and sell on Indian exchanges as it's profitable with the fluctuating rates (international exchanges offer market rates while Indian ones offer 5% more than the market rates).

[deadley]

Finally an international exchange accepts INR (if that what the mail implies) and bitstamp is the best possible site we can buy bitcoins from. I was thinking to trade on international exchanges and sell on Indian exchanges as it's profitable with the fluctuating rates (international exchanges offer market rates while Indian ones offer 5% more than the market rates).

They are not accepting INR, Bitstamp or Card company will charge mark up fee for $.

Not sure about debit card but I checked through credit card bitstamp charging 8% fee so I don't think it's viable option.

[Blackshadow007]

After card purchases are done, won't they ask for id verification in case of withdrawals?
I think that if this is going to happen, Indians are surely going to make something big on this including me.
I had been waiting for such a chance and seems like my wish has become true, we can finally purchase it at International rates.

I am too .. but remember Bitstamp verification is pretty tough , They do not take CC Statements as address proof . Only Bank statement physical / Utility bills / Local Municipality residential certificate

[Blackshadow007]

Finally an international exchange accepts INR (if that what the mail implies) and bitstamp is the best possible site we can buy bitcoins from. I was thinking to trade on international exchanges and sell on Indian exchanges as it's profitable with the fluctuating rates (international exchanges offer market rates while Indian ones offer 5% more than the market rates).

They are not accepting INR, Bitstamp or Card company will charge mark up fee for $.

Not sure about debit card but I checked through credit card bitstamp charging 8% fee so I don't think it's viable option.

Yes they will not accept INR  but USD , there will be 2.5% exchange rate for USD TO INR for sure but not sure about Deposit rate but 8% fee ? thats big lol . Moneypolo is far better then

[bitcoinisbest]

Finally an international exchange accepts INR (if that what the mail implies) and bitstamp is the best possible site we can buy bitcoins from. I was thinking to trade on international exchanges and sell on Indian exchanges as it's profitable with the fluctuating rates (international exchanges offer market rates while Indian ones offer 5% more than the market rates).

They are not accepting INR, Bitstamp or Card company will charge mark up fee for $.

Not sure about debit card but I checked through credit card bitstamp charging 8% fee so I don't think it's viable option.

Yes they will not accept INR  but USD , there will be 2.5% exchange rate for USD TO INR for sure but not sure about Deposit rate but 8% fee ? thats big lol . Moneypolo is far better then

Well certainly if 8% and 2.5% is found out to be true then certainly no point in buying from any International exchanges. Its better to buy from very own Indian exchanges. Because you may end up paying more if purchased from International markets.

[Blackshadow007]

Finally an international exchange accepts INR (if that what the mail implies) and bitstamp is the best possible site we can buy bitcoins from. I was thinking to trade on international exchanges and sell on Indian exchanges as it's profitable with the fluctuating rates (international exchanges offer market rates while Indian ones offer 5% more than the market rates).

They are not accepting INR, Bitstamp or Card company will charge mark up fee for $.

Not sure about debit card but I checked through credit card bitstamp charging 8% fee so I don't think it's viable option.

Yes they will not accept INR  but USD , there will be 2.5% exchange rate for USD TO INR for sure but not sure about Deposit rate but 8% fee ? thats big lol . Moneypolo is far better then

Well certainly if 8% and 2.5% is found out to be true then certainly no point in buying from any International exchanges. Its better to buy from very own Indian exchanges. Because you may end up paying more if purchased from International markets.

Well its profitable from Moneypolo at least .. 4% + 1% + 2.5% total charge to get from BTC-E .

[bitwatcher]

Any reviews so far on using bitstamp from india.

[erikalui]

Finally an international exchange accepts INR (if that what the mail implies) and bitstamp is the best possible site we can buy bitcoins from. I was thinking to trade on international exchanges and sell on Indian exchanges as it's profitable with the fluctuating rates (international exchanges offer market rates while Indian ones offer 5% more than the market rates).

They are not accepting INR, Bitstamp or Card company will charge mark up fee for $.

Not sure about debit card but I checked through credit card bitstamp charging 8% fee so I don't think it's viable option.

I was aware that there would be some conversion fee but 8% is just too high which makes trading a loss rather than a profit.

I just checked the FAQ and on top of all that, they have a huge withdrawal fee too.

International withdrawals are charged with 0.09% fee, minimum fee is $15.00. Minimum amount for international withdrawal is $50.00.

Indian exchanges are most preferred compared to international exchanges.

[Blackshadow007]

Any reviews so far on using bitstamp from india.

I just got that mail yesterday evening , i am not yet address verified . They ask way too much info to complete that so when i do then i can provide info about it usage .. :/

[polynesia]

Finally an international exchange accepts INR (if that what the mail implies) and bitstamp is the best possible site we can buy bitcoins from. I was thinking to trade on international exchanges and sell on Indian exchanges as it's profitable with the fluctuating rates (international exchanges offer market rates while Indian ones offer 5% more than the market rates).

They are not accepting INR, Bitstamp or Card company will charge mark up fee for $.

Not sure about debit card but I checked through credit card bitstamp charging 8% fee so I don't think it's viable option.

I was aware that there would be some conversion fee but 8% is just too high which makes trading a loss rather than a profit.

I just checked the FAQ and on top of all that, they have a huge withdrawal fee too.

International withdrawals are charged with 0.09% fee, minimum fee is $15.00. Minimum amount for international withdrawal is $50.00.

Indian exchanges are most preferred compared to international exchanges.

That just kills any advantage that an overseas exchange has.
If there was any way to arbitrage the differences, professional traders would have done it by now.

[S_D]

Wouldn't the authorities be concerned by we all just start buying bitcoins over internet through cards?

[polynesia]

Wouldn't the authorities be concerned by we all just start buying bitcoins over internet through cards?

When you use credit cards for FX transactions, it is your responsibility to ensure that you comply with all applicable rules and regulations.
The authorities can scrutinize transactions at any time.

[Pattberry]

Any reviews so far on using bitstamp from india.

I just got that mail yesterday evening , i am not yet address verified . They ask way too much info to complete that so when i do then i can provide info about it usage .. :/

It is a mandatory in Europe to follow these steps to avoid further confusions and legal struggle that they are collecting every possible details for the verification.It is a good thing but the issue will be the processing fees and the conversion fees which makes selecting Indian exchanges to purchase coins more profitable for the end user as the Indian exchanges usually charge higher fees than the international market.

[S_D]

Wouldn't the authorities be concerned by we all just start buying bitcoins over internet through cards?

When you use credit cards for FX transactions, it is your responsibility to ensure that you comply with all applicable rules and regulations.
The authorities can scrutinize transactions at any time.

Indeed may be we should wait for someone to shed some light on legal precautions or aspects of it.

[DDS1]

Yes, it possible. But you can purchase bitcoin from only trading platform. You buy or sell that platform directly in your choice. Your advantage is you invest in other currency.

[Blackshadow007]

Any reviews so far on using bitstamp from india.

I just got that mail yesterday evening , i am not yet address verified . They ask way too much info to complete that so when i do then i can provide info about it usage .. :/

It is a mandatory in Europe to follow these steps to avoid further confusions and legal struggle that they are collecting every possible details for the verification.It is a good thing but the issue will be the processing fees and the conversion fees which makes selecting Indian exchanges to purchase coins more profitable for the end user as the Indian exchanges usually charge higher fees than the international market.

Well its difficult to address verify in Bitstamp cause as per UK law they do not allow credit card statement as address proof . Instead they ask Physical bank seal marked Bank statement lol .. most of Indian bank just provide e-statements now and most other banks has passbook facility .

[susila_bai]

Any reviews so far on using bitstamp from india.

I just got that mail yesterday evening , i am not yet address verified . They ask way too much info to complete that so when i do then i can provide info about it usage .. :/

It is a mandatory in Europe to follow these steps to avoid further confusions and legal struggle that they are collecting every possible details for the verification.It is a good thing but the issue will be the processing fees and the conversion fees which makes selecting Indian exchanges to purchase coins more profitable for the end user as the Indian exchanges usually charge higher fees than the international market.

Well its difficult to address verify in Bitstamp cause as per UK law they do not allow credit card statement as address proof . Instead they ask Physical bank seal marked Bank statement lol .. most of Indian bank just provide e-statements now and most other banks has passbook facility .

But if you want the bank statement with the bank seal mark then you have to go to bank personally and give a letter for physical bank statement with bank seal , it is not a big deal as you can get it immediately from your bank.

[tech_solutions]

It is really good news that Bitstamp are allowing other country in that India is included to trade bitcoin using credit / debit card but the problem is they only allow usd or euro currency to be used so the transaction in card will be shown as usd or euro conversion and that will affect forex exchange. So be careful when you are going to use their service as tax problem will come