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Author Topic: buying coins and exchange accounts  (Read 252 times)
smokeydog
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August 31, 2017, 03:43:29 PM
 #1

I decided to start buying bitcoins to learn the ropes.

I went to blockchain.info to create a wallet.  Next I tried to buy a coin, knowing that I would need to get a bank transfer setup.   I was forwarded to CEX.   Opened another account,   the tried to start the process and get hooked up with my bank.   After uploading ID pictures etc etc 48 hours ago.   My account is still pending.   After all this then I will need to send these bitcoins to my hardware wallet,  just wondering how many hour/days that will take.  If this is what it takes to purchase 1 single bitcoin, it's a long long way from ever becoming mainstream. 

Am I going about this the wrong way?   I'v got the time to continue, if I'm on the right track.   Is CEX a reasonable exchange to buy from,  is the process the same with most exchanges.
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erikalui
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August 31, 2017, 03:55:21 PM
 #2

Verifying accounts even with normal banks takes them a week while some banks do it within 1-2 days to get more customers and same is the case with exchanges. Most users got their CEX account verified in less than 24 hours but it seems that you have already crossed that time limit. You should contact their support since it's taking long:

support@cex.io
https://support.cex.io/hc/en-us/requests/new

Generally, it's not the issue with bitcoin's acceptance but its the exchange that delays the verification and withdrawals. they usually don't even employ the required staff to fasten the process.

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aardvark15
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August 31, 2017, 10:35:56 PM
 #3

I decided to start buying bitcoins to learn the ropes.

I went to blockchain.info to create a wallet.  Next I tried to buy a coin, knowing that I would need to get a bank transfer setup.   I was forwarded to CEX.   Opened another account,   the tried to start the process and get hooked up with my bank.   After uploading ID pictures etc etc 48 hours ago.   My account is still pending.   After all this then I will need to send these bitcoins to my hardware wallet,  just wondering how many hour/days that will take.  If this is what it takes to purchase 1 single bitcoin, it's a long long way from ever becoming mainstream. 

Am I going about this the wrong way?   I'v got the time to continue, if I'm on the right track.   Is CEX a reasonable exchange to buy from,  is the process the same with most exchanges.

That verification process will take a few days . Just be patient because there is no rush to buy Bitcoins right now. Bitcoin is at an all time high and will likely drop some at some point. It's better not to buy when the price is high, wait to buy in a dip. I did the same thing you're doing a few years ago but with Coinbase, so I know it takes a few days to get it set up.

BitMaxz
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August 31, 2017, 11:27:03 PM
 #4

I decided to start buying bitcoins to learn the ropes.

I went to blockchain.info to create a wallet.  Next I tried to buy a coin, knowing that I would need to get a bank transfer setup.   I was forwarded to CEX.   Opened another account,   the tried to start the process and get hooked up with my bank.   After uploading ID pictures etc etc 48 hours ago.   My account is still pending.   After all this then I will need to send these bitcoins to my hardware wallet,  just wondering how many hour/days that will take.  If this is what it takes to purchase 1 single bitcoin, it's a long long way from ever becoming mainstream. 

Am I going about this the wrong way?   I'v got the time to continue, if I'm on the right track.   Is CEX a reasonable exchange to buy from,  is the process the same with most exchanges.
The process is slow i think better to buy bitcoins in other ways where do you live?
There are country that has local exchange which is much faster to buy bitcoin just like the same here in my country if you are living in india they had zebpay to buy bitcoin instantly or if you are living here in philippines you can use coins.ph to buy bitcoin instantly without verification of your account..
Also coinbase is one of the place to buy bitcoin where you can use the cards to buy bitcoin..

smokeydog
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September 06, 2017, 02:26:20 PM
 #5

After creating an account with cex.io to buy bitcoins about 10 day ago, my account is still not operational.   I have emailed the support address with no response.   I won’t pay credit card transactions fees and can’t link a bank account to wire funds.   So at this point I have no confidence in this exchange.  If it can’t set up an account in 48 hours and will not respond to a question, I don’t have the confidence that I would be able to resolve any other type of problem.

So even though many have told me they do not recommend Coinbase, I will give it a try and see what kind of support it offers.

I have to say I have wasted a lot time just trying to buy my first coin.  From what I’m seeing, this is not ready for prime time yet.  I will keep trying but at some point I need to see efficiency and stability.  The backbone of the bitcoin system may be rock solid but the gateways into it seem very rough.
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