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Author Topic: Important questions to buy and sell bitcoins online in recommended places  (Read 925 times)
blopblop
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November 17, 2013, 11:02:06 PM
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Hello, Im just an starter in the bitcoin world and have some important questions about buying and selling bitcoins online (if possible in Euros).
For anyone reading this topic and with low knowlegde about how bitcoin works, please read: http://backintyme.com/btc01.php

Already read the following thread about some of the known places with better security which are recommended for buying and selling bitcoin:
https://bitcointalk.org/index.php?topic=333459.0

Also read some important steps to improve security:
Insanely long and difficult password, double authentication, operating with a scrow, encryption, live linux iso and 2 computers with Armory... could be a must have.

Some recommend sites, as seen in other threads:
- btc-e, bitstamp, campbx: are commercial exchanges
- localbitcoins: a place which matches up individual buyers and sellers
- coinbase: is a middleman service between users and a commercial exchange

Ways of sending fiat from one person to another:
- Bank Transfer, Wire Transfer, Venmo, Dwolla.


QUESTIONS:

Buying bitcoins:
1. How much time aproximately should it take to buy 2-8.. bitcoins in an online site? does the number of bitcoins bought matter?

2. The bitcoins bought through the online site, are they "sent" to their online public key of the site (and later the bitcoins are associated internally by the site to my account), or are the bitcoins bought directly "sent" to my public key?

3. If they are sent to the site public key and later associated with my account, how can I tell the site to send them to my public key instead? I dont want anything to be online in the site.


Selling bitcoins:
4. How much time could it take to sell a packet of bitcoins, about 2-8..?

5. Is there a maximum restriction in the number of bitcoins to be sold in a site daily, weekly or monthly?


Getting the money (in euros)
6. Once the bitcoins are finally sold in a site, and the transaction has ended successfully, where does the money go, to my linked bank account or does it stay in the web site until I give the order to get all the money out of it?

7. do I need to link my bank account with the web site in order to receive all the money?

8. How much time could it take to get all the money into my bank?

9. What is the maximum money I can retrieve from my web site account each day, week, month..?
 

Recommended sites:
10. From your overall experience, and probably a hard question, what sites would you recommend with high security, trusted by users with good support and features without many selling restrictions, which lets me sell a lot of bitcoins and get the money back from the site very fast.


Not recommended sites:
From what I have already read some of the following sites are having problems with cash or needs better security:
mtgox (said to paid after many months in some cases).


Recommendations
11. I would be really pleased if someone could give some advises or tips for operating with online sites.
I usually check the price and flow of bitcoin market at bitcoincharts.com


Finally thank you so much if you have time to answer any of the questions above. They will help me and all the community to understand the best ways to operate with bitcoins.




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coqui33
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November 17, 2013, 11:32:38 PM
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Of the "sites" you list, btc-e, bitstamp, and campbx are commercial exchanges. Localbitcoins matches up individual buyers and sellers. And coinbase is a middleman service between users and a commercial exchange. The other "sites" are merely ways of sending fiat from one person to another.

Your questions show some misunderstandings (that your coins are somehow stored in you computer, for instance). They will be easier to answer if you first read Getting Started With Bitcoins.

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blopblop
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November 17, 2013, 11:53:56 PM
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Thank you so much coqui33 for the answer and the article, its really good and now I understand better how bitcoins work Smiley
I will make some edits to my questions.

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