Help needed to buy bitcoin

[choonsy]

Firstly , I am not in the US .

I have cash in the bank ready to buy some bitcoin .

 1 ) I have paypal , but that seems no good as I have no reputation ( is paypal ok to use as a buyer ?)

2)  is there anywhere I can deposit my cash safely so that when I see coin for sale at a price I would like to buy at , that I could easily make a trade ?  ( I would like to be ready if I see a sudden drop in the price ).

at the moment it just dosent seem easy for me to buy coin . I registered with coinbase and the likes , but they don't support banks outside the US .

Thanks Guys

[Light]

1 ) I have paypal , but that seems no good as I have no reputation ( is paypal ok to use as a buyer ?)

As far as buying BTC with Paypal goes I'd advise you read this informative post.

Maybe you don't know this but if you buy something with PayPal^sucks or any credit card or any debit card or even by ACH bank transfer then it is very easy to have the transaction reversed.  In other words these forms of payment are all reversible.

In almost every way Bitcoin is the opposite of all other forms of fiat money.  One of the main differences is that Bitcoin transactions cannot be reversed.

Because of this huge difference there is an easy, often repeated, scam:

1) Scummy Scammer buys Bitcoins from Honest Bob.  He pays with some form of reversible money (PayPal^sucks, credit card, etc.)
2) Honest Bob send the Bitcoins to Summy Scammer.  Note this transaction cannot be reversed.
3) Now Summy Scammer goes to PayPal^sucks or his credit card company and has them reverse the charge.  PayPal^sucks and credit card companies always side with the buyer.
4) PayPal^sucks or credit card take the money back from Honest Bob.

Honest Bob is screwed.

This is why it is almost impossible to buy Bitcoins with either PayPal^sucks or credit cards.

I only sell Bitcoins for one thing:  cold hard cash in hand.  It is the only form of government fiat funny money that is not reversible.

So, if you want to buy BTC then:

1) Go to https://localbitcoins.com
2) Find a seller near you
3) Arrange to meet them in a coffee shop, bank or police station or where ever you feel comfortable
4) Give them the cash
5) They give you the BTC
6) Everyone happy

[choonsy]

yep alough this is good info , I would really like to know how to get my cash in the bank  ready to buy ??

[jonanon]

Create an account with one of the exchanges, I'd go for Bitstamp, get verified and you can transfer money from your back to buy Bitcoin.

[choonsy]

Create an account with one of the exchanges, I'd go for Bitstamp, get verified and you can transfer money from your back to buy Bitcoin.

thank you so much , that looks like the info I was look for .

[ak84]

I only sell Bitcoins for one thing:  cold hard cash in hand.  It is the only form of government fiat funny money that is not reversible.

So, if you want to buy BTC then:

1) Go to https://localbitcoins.com
2) Find a seller near you
3) Arrange to meet them in a coffee shop, bank or police station or where ever you feel comfortable
4) Give them the cash
5) They give you the BTC
6) Everyone happy

How exactly does this go down? I presume you would need a wallet on your phone, with a receiving address that you send to the BTC seller.

Who gives whom the money first? And when the seller sends his BTC to you, do you wait for the transaction to arrive in your account before you give him the money? How long would that take?

[choonsy]

good question ? I all ears to hear what goes on , and would like to grab as much info as I can ?