US guys: is it really so hard to buy Bitcoin now?

[buwaytress]

Just read this piece: now yes, it's click-baitish, and yes, it's a crypto journalist (and we know just how much of a variety they come, some do know their stuff and some probably never even owned Bitcoin) but apparently, even eToro now is blocking new Bitcoin buys and this crypto journalist can't even buy $100 in BTC.

I've got no problems and most people I know can't... P2P is always available. But I do wonder if retail Americans actually are finding it hard to come by actual BTC now. This true or is this article just someone who's not trying hard enough? I mean, if it's really the case of banks still blocking buys because they're considered high risk, then how exactly are people doing it in the US besides expensive ATMs, since p2p's not exacly available there?

[DaveF]

Just had a friend sign up for Coinbase. No issues and got his BTC in his account quickly.
Can't withdraw till the ACH transfer clears but it's there.
I have never heard any "legitimate" issues with Gemini.
A quick look at coinatmradar.com shows 1000s of ATMs where you can get some for cash.
As far as I know localbitcoins.com is still working.

So yeah, it's him / clickbait.

-Dave

[figmentofmyass]

Just read this piece: now yes, it's click-baitish, and yes, it's a crypto journalist (and we know just how much of a variety they come, some do know their stuff and some probably never even owned Bitcoin) but apparently, even eToro now is blocking new Bitcoin buys and this crypto journalist can't even buy $100 in BTC.

I've got no problems and most people I know can't... P2P is always available. But I do wonder if retail Americans actually are finding it hard to come by actual BTC now. This true or is this article just someone who's not trying hard enough?

her real problem is that she banks with a small credit union who was declining all her transactions. that is not the typical experience at all---pretty obnoxious that she is framing it like this.

she also lives in NY (bitlicense) and is listing off services like blockchain.com and binance.us that would never have served her in the first place. none of that applies to the rest of the USA. things are definitely worse in NY than anywhere else in the country, with the exception of maybe hawaii.

there are more options than ever now. when i first arrived, the only real options were mt gox, bitstamp, btc-e, and bitfloor. it took weeks to fund an exchange account. bank wires only, intermediate banks, delays...

it's a whole new world now. we've got cash app, robinhood, paypal.....not to mention all the exchanges. ACH transfers posting within a couple days, same-day bank wires. localbitcoins may be useless to me without in-person cash listings but for mainstream folk, there's plenty of offers there too.

she definitely didn't try hard enough. small credit unions are great for the loan rates, but come on now---get an account at a real bank who isn't gonna leave your banking capabilities in the 20th century.

[tbct_mt2]

Finish KYC on Coinbase and go ahead, it is very easy.
Don't want to do KYC, let's use P2P marketplaces, DEX like there Help: A list of LocalBitcoin alternatives (P2P marketplaces) and https://bisq.network/

There are many bitcoin is changed hands on the market every day and it is not difficult to buy bitcoin. The US. is a nation more friendly for bitcoiners than other nations that bitcoin exchanges are even not supported or protected by laws, police and governments.

[error08]

her real problem is that she banks with a small credit union who was declining all her transactions. that is not the typical experience at all---pretty obnoxious that she is framing it like this.

she also lives in NY (bitlicense) and is listing off services like blockchain.com and binance.us that would never have served her in the first place. none of that applies to the rest of the USA. things are definitely worse in NY than anywhere else in the country, with the exception of maybe hawaii.

Yes, she did mention this as the main problem; the customer service agent tells me all crypto transactions are “considered very high risk” and declines them, no matter whether I assure them it’s a transaction I want to make or not.
How nice to put your money there but they decide to block all the crypto transactions, darn it.

Especially after FinCEN proposed some new requirements of disruptive changes for digital currency transactions, makes it even worse for citizens in US to deal with cryptocurrency and exchanges.

[buwaytress]

As far as I know localbitcoins.com is still working.

Thought this was not an option for most US people? Unless you wanna run into trouble.

Finish KYC on Coinbase and go ahead, it is very easy.
Don't want to do KYC, let's use P2P marketplaces, DEX like there Help: A list of LocalBitcoin alternatives (P2P marketplaces) and https://bisq.network/

There are many bitcoin is changed hands on the market every day and it is not difficult to buy bitcoin. The US. is a nation more friendly for bitcoiners than other nations that bitcoin exchanges are even not supported or protected by laws, police and governments.

Yeah, thought so. I KYC even if not needed if I ever need to use a centralised crypto service anywhere. And yes, I know DEX and other decentralised p2p, but I imagine most regular retail US people would be wanting to use a debit card. And I disagree the US is more friendly for normal bitcoiners. More protected maybe...

her real problem is that she banks with a small credit union who was declining all her transactions. that is not the typical experience at all---pretty obnoxious that she is framing it like this.

she also lives in NY (bitlicense) and is listing off services like blockchain.com and binance.us that would never have served her in the first place. none of that applies to the rest of the USA. things are definitely worse in NY than anywhere else in the country, with the exception of maybe hawaii.

Yup, so it confirms she was just being a brat. But I also wonder if most people in the US are like her in the end. I realise reading that article I actually don't know much about how it is for a new person in the US to get in on Bitcoin. Thanks for the feedback!

Always thought LBC wasn't a reliable or safe option for US people depending on their jurisdiction too actually. A quick look for me right now shows most ppl selling really low amounts, and very few bank transfer options.

[DaveF]

As far as I know localbitcoins.com is still working.

Thought this was not an option for most US people? Unless you wanna run into trouble.

Didn't say it was a great option, just that is was an option. ;-)
So long as you trade with people who have high feedback it's mostly safe.

Kind of like eBay. Don't buy the new PS5 from the guy with 1 feedback who joined yesterday.

Same thing with your bank, if they block certain types of transactions, don't back there or don't use them for those transactions.

Bit of a "1st world problem" statement but:
I am 'forced' to have 3 checking accounts.

One is my main day to day, paychecks go in, bills get paid from account but....they absolutely positively will not allow an automatic withdraw to pay a bill that is not 100% in my name AND although they do have high interest checking their ATM network sucks.

So I opened a 2nd one, just to have better ATM access and a bit of easier time paying some bills now and then. Fine whatever not a big deal. Till, they merged with another bank that is crypto unfriendly, and publicly so.

Just to be safe I opened a 3rd account for crypto things (and eBay / PayPal stuff) so neither my main account or other will ever be shut down / blocked / whatever if they don't like something they see. Which a lot of banks are know to do.

-Dave

[figmentofmyass]

As far as I know localbitcoins.com is still working.

Thought this was not an option for most US people? Unless you wanna run into trouble.

if you're willing to use bank transfers, it's fine. there are plenty of active, reputable traders. just expect to be KYC'd at multiple levels---once by localbitcoins and again by your trading partners, who are in this day and age increasingly likely to be FINCEN-registered MSBs.

the people getting arrested appear to be 1. advertising/making regular commissions on an exchange business not registered with FINCEN or licensed at the state level, 2. not filing SAR or CTR reports or collecting KYC while running an exchange business, or 3. knowingly laundering money (undercover cop tells seller the money is the proceeds of crime and seller still goes through with the deal).

if you are just casually buying some coins from a trader on LBC, none of that applies.

Always thought LBC wasn't a reliable or safe option for US people depending on their jurisdiction too actually. A quick look for me right now shows most ppl selling really low amounts, and very few bank transfer options.

hmmm, i see many dozens of offers for bank transfers/cash deposit, with offers into the high 5-figure USD.

i reckon if you're looking to buy 6-figure USD amounts, you should just go through an OTC desk---cheaper and much safer.

[The Sceptical Chymist]

I have never heard any "legitimate" issues with Gemini.
A quick look at coinatmradar.com shows 1000s of ATMs where you can get some for cash.
As far as I know localbitcoins.com is still working.

All good points, though I thought it was a pretty interesting article.

One thing that wasn't mentioned is that when you buy bitcoin through PayPal or Robinhood, you don't actually have control of your private keys (as far as I know, and please correct me if I'm wrong). 

He might not have mentioned ATMs because of the outrageous fees on some of them, but who knows.  That definitely was a glaring omission, as well as not mentioning localbitcoins.

And Coinbase has caused a lot of bitcoiners a lot of headaches, but they still sell a hell of a lot of bitcoin to US customers.  The author of that article's main problem was his place of residence:  New York.  I've had similar problems in my state and it sucks monkey dongs.

[buwaytress]

Bit of a "1st world problem" statement but:
I am 'forced' to have 3 checking accounts.

I feel you. I have 3 main banking accounts, not because I love the hassle of managing the KYC/AML requirements from all three (which happens too frequently for my liking) but because I move around a lot and really just need the different options (different countries, different currencies, different sanctions).

At least now, my income is generally in crypto, so I can sell at different exchanges and P2P, depending on which banking is friendly to which (regulated EU exchange for euros, p2p for other local currencies).

With AMLD5, it's been even more of a hassle, but so far so good. I do foresee a fourth account necessary in the near future though. First world problems indicate "progress" I guess;)

if you're willing to use bank transfers, it's fine. there are plenty of active, reputable traders. just expect to be KYC'd at multiple levels---once by localbitcoins and again by your trading partners, who are in this day and age increasingly likely to be FINCEN-registered MSBs.

the people getting arrested appear to be 1. advertising/making regular commissions on an exchange business not registered with FINCEN or licensed at the state level, 2. not filing SAR or CTR reports or collecting KYC while running an exchange business, or 3. knowingly laundering money (undercover cop tells seller the money is the proceeds of crime and seller still goes through with the deal).

Thanks for the clarification. I did scroll down results on LBC and saw those larger figures, yeah. I always assumed in the past reading reddit (I know, I know) it's just best to avoid LBC as it's heavily scrutinised in the US. Guess it really is just a NY problem. Your point 3 I see is also regularly brought up in chats.

One thing that wasn't mentioned is that when you buy bitcoin through PayPal or Robinhood, you don't actually have control of your private keys (as far as I know, and please correct me if I'm wrong). 

Yup! I confirmed this earlier, and with PayPal you don't even actually have Bitcoin, it's just an account balance that doesn't interact with blockchain ...although PayPal is rumoured to be working on a proper Bitcoin wallet (though still not likely to allow users to control private key I'd wager).

And Coinbase has caused a lot of bitcoiners a lot of headaches, but they still sell a hell of a lot of bitcoin to US customers.  The author of that article's main problem was his place of residence:  New York.  I've had similar problems in my state and it sucks monkey dongs.

Yeah, I guess NY is the problem...