Can you help me understand a few things when starting?

[scooby845]

Hi. I'm new here.
Needless to say - I'm a total NOOB in this. So, please explain it as simple as possible.

Having spent hours on the Internet, scouting for various Exchange Services and Bitcoin manuals - I am still at square one. What I am most interested in is this.

All I want is to deposit money through the credit card, buy Bitcoin for the fewest fee possible and just let it SIT there and (hopefully) grow. No trading, no mining, not anything. Whats the problem? I reside in Serbia. Many Exchanges such as Coinbase, EXC.IO and others are not compatible with my country. By that I mean this - I cannot withdraw the money from the bank in the case of profit. Serbia is not a part of - Single Euro Payments Area (SEPA), nor does it comply with Bitcoin protocol. So... There's no way I get to withdraw money ultimately.

Problem 1. Is ANY exchange 'compatible' with Bitcoin ATM's or every specific exchange has its own ATM. If so, is that a solution?

Problem 2. Since the RSD is the official currency in Serbia - when I want to deposit money on my credit card in order to buy Bitcoin - do I need to deposit it in dollars (given that I buy Bitcoin in dollars) or I can do it in RSD? If I do it in RSD - will I be imposed a fee when the service converts RSD to Dollars?

Would appreciate help.
Thanks all!

--
By the way, I am not interested in selling in-person.

[bitperson]

All I want is to deposit money through the credit card, buy Bitcoin for the fewest fee possible and just let it SIT there and (hopefully) grow. No trading, no mining, not anything. Whats the problem? I reside in Serbia. Many Exchanges such as Coinbase, EXC.IO and others are not compatible with my country. By that I mean this - I cannot withdraw the money from the bank in the case of profit. Serbia is not a part of - Single Euro Payments Area (SEPA), nor does it comply with Bitcoin protocol. So... There's no way I get to withdraw money ultimately.

Problem 1. Is ANY exchange 'compatible' with Bitcoin ATM's or every specific exchange has its own ATM. If so, is that a solution?

Problem 2. Since the RSD is the official currency in Serbia - when I want to deposit money on my credit card in order to buy Bitcoin - do I need to deposit it in dollars (given that I buy Bitcoin in dollars) or I can do it in RSD? If I do it in RSD - will I be imposed a fee when the service converts RSD to Dollars?

One option would be to buy and sell through https://localbitcoins.com. They seem to list traders in Serbia as well.

Since you intend to hold on to your Bitcoins, you could store them in your own wallet (e.g. Bitcoin Core on your computer, or a hardware wallet). This also has security advantages over storing your Bitcoins on an exchange.

[scooby845]

Hey thanks.

But like I said I don't wanna operate with localbitcoin or personal buyers.

If I open a wallet through ex.  COINBASE which does not comply with Serbia - can I withdraw it ultimately through ATM?
Also, if I buy altcoins - do I have to trade them for Bitcoin as it's the only currency that can be traded /withdrew in fiat currency?

I need  an answer on 2 problems I mentioned.  Also I'm having hard time understanding the hardware wallet thing.
Thanks again!

[bitperson]

If I open a wallet through ex.  COINBASE which does not comply with Serbia - can I withdraw it ultimately through ATM?

I think Coinbase withdrawals are available only to bank accounts (and, for US customers, through Paypal).

Also, if I buy altcoins - do I have to trade them for Bitcoin as it's the only currency that can be traded /withdrew in fiat currency?

You can exchange fiat currency directly into altcoins or vice versa, as long as the exchange supports that. As an example, Coinbase also supports Ethereum and Litecoin, and I believe they will be offering Bcash (Bitcoin Cash) as well. I'm mentioning Coinbase as an example; I do understand that they don't serve Serbian residents. I guess you need to find one that caters for your country as well as for the altcoins you're interested in. Good luck, and maybe someone else even can provide a direct suggestion.

Also I'm having hard time understanding the hardware wallet thing.

There's an illustrated writeup on hardware wallets at https://en.bitcoin.it/wiki/Hardware_wallet.

[ZeroDrifting]

Here's what I use personally: https://paxful.com/serbia/buy-bitcoin Buy bitcoin using Paxful, their easier and convenient from my personal opinion

[BitcoinKing101]

Here's what I use personally: https://paxful.com/serbia/buy-bitcoin Buy bitcoin using Paxful, their easier and convenient from my personal opinion

I understand what you are saying when using Paxful, however that does not assist when it comes to being able to easily access your BTC in exchange for USD or other currencies.  Also your link was for Serbia, can you use it from other areas besides this?

[scooby845]

Ok guys - this is what I want. Keep in my mind I am total NOOB and retarded regarding this, so if you could explain it to me, I would be eternally grateful.


I am interested in joining Bitstamp.net (cause I've seen they operate in Europe)..

1. I am based in Serbia (is not a part of SEPA). Is trading available from this region?

2. Is Bitstamp.net only an exchange platform or does it offer an e-wallet as well?

3. Does Bitstamp.net only accept wire-transfers or credit card deposits as well?

4. I would like to buy XRP. From what I know - it is only possible by buying Bitcoin and then trading it for XRP. So, does it go like this - deposit to Bitstamp.net > Bitcoin purchase > trading to XRP ? Because XRP cannot be purchased with Fiat currencies.

5. How do I withdraw XRP? Do I have to go in reverse - exchange it to Bitcoin, then withdraw Bitcoin as Fiat currency?

[Sutters Mill]

Hey thanks.

But like I said I don't wanna operate with localbitcoin or personal buyers.

If I open a wallet through ex.  COINBASE which does not comply with Serbia - can I withdraw it ultimately through ATM?
Also, if I buy altcoins - do I have to trade them for Bitcoin as it's the only currency that can be traded /withdrew in fiat currency?

I need  an answer on 2 problems I mentioned.  Also I'm having hard time understanding the hardware wallet thing.
Thanks again!

Why don't you want to meet people or use localbitcoins? You seem to be setting up obstacles for yourself here. If you can only use a credit card you could easily just withdraw the cash via an atm then find someone to buy from in person or put the money into your bank and use a direct bank transfer. on localbitcoins. This board even has a currency exchange and I'm sure you could find someone there to trade via bank transfer.

Have you considered a bitcoin debit card to withdraw via an atm directly?

Ok guys - this is what I want. Keep in my mind I am total NOOB and retarded regarding this, so if you could explain it to me, I would be eternally grateful.


I am interested in joining Bitstamp.net (cause I've seen they operate in Europe)..

1. I am based in Serbia (is not a part of SEPA). Is trading available from this region?

2. Is Bitstamp.net only an exchange platform or does it offer an e-wallet as well?

3. Does Bitstamp.net only accept wire-transfers or credit card deposits as well?

4. I would like to buy XRP. From what I know - it is only possible by buying Bitcoin and then trading it for XRP. So, does it go like this - deposit to Bitstamp.net > Bitcoin purchase > trading to XRP ? Because XRP cannot be purchased with Fiat currencies.

5. How do I withdraw XRP? Do I have to go in reverse - exchange it to Bitcoin, then withdraw Bitcoin as Fiat currency?

You should read the terms and rules of these exchanges to find out your answers, but have you considered Kraken? They sell XRP and I've used them with no problems even to buy XRP and I'm based in Europe though not in the country you are so can't say whether it will work for you but they seem to accept deposits worldwide so can't see why you would have a problem with them.

[scooby845]

You should read the terms and rules of these exchanges to find out your answers, but have you considered Kraken? They sell XRP and I've used them with no problems even to buy XRP and I'm based in Europe though not in the country you are so can't say whether it will work for you but they seem to accept deposits worldwide so can't see why you would have a problem with them.

Hey man. Thanks a lot - but I hardly understand any of this... (n00b)

Are you willing to explain to me the starting process ?

1. Does exchange service offer e-wallet or do I have to make it independently? If so - what are the best e-wallets? Preferably, the ones without through ID identification - just 2FA and such.

2. Given that I accomplished THAT step - what then? I deposit via wire transfer or debit card money to the e-wallet account? Then - I exchange/buy (I want Litecoin and XRP) it through the Cryptocurrency Exchange?

3. In the case of ultimate profit - can any (mine)bank 'accept' the money that Cryptocurrency Exchange Service 'sends' them and pay me out in fiat currency?
3.1 If no - can I buy Bitcoin debit card and cash out that way?

Please help and thanks a LOT!