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Author Topic: This is simple and for some reason I can’t figure it out and it’s complicated  (Read 95 times)
Hugehefner (OP)
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May 29, 2021, 05:22:08 PM
 #1

I need your help. This is what I’m having a problem with. I want to buy some BTC. Preferably with PayPal or moneygram and I would like to be able to do that with a Bitcoin wallet so I’d be finding the wallet through PayPal or moneygram with cash so the funds wouldn’t be tangled up for days. After I buy the Bitcoin I want to be able to buy things or transfer the Bitcoin to another business for services and I would like to do that as soon as I buy the Bitcoin even if the transaction took and hour. But everything I see is they want me to wait three to five days to be able to use the Bitcoin that I bought with cash;
Ie paypal, moneygram. That’s just not viable for me because it could be worth 20, 30 or 40% less in five days so if you know of a wallet that’s easy to fund and you can use your funds after you purchase crypto. Within an hour or two. Please let me know because there are probably thousands of people just like me that want l use Bitcoin but just can’t figure it out the way we need and in order for Bitcoin stock to rise, you can’t leave the simpler people in life behind. We have money amd we want to put it into Bitcoin
Zoe Saldana
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May 29, 2021, 06:31:34 PM
 #2

I need your help. This is what I’m having a problem with. I want to buy some BTC. Preferably with PayPal or moneygram and I would like to be able to do that with a Bitcoin wallet so I’d be finding the wallet through PayPal or moneygram with cash so the funds wouldn’t be tangled up for days. After I buy the Bitcoin I want to be able to buy things or transfer the Bitcoin to another business for services and I would like to do that as soon as I buy the Bitcoin even if the transaction took and hour. But everything I see is they want me to wait three to five days to be able to use the Bitcoin that I bought with cash;
Ie paypal, moneygram. That’s just not viable for me because it could be worth 20, 30 or 40% less in five days so if you know of a wallet that’s easy to fund and you can use your funds after you purchase crypto. Within an hour or two. Please let me know because there are probably thousands of people just like me that want l use Bitcoin but just can’t figure it out the way we need and in order for Bitcoin stock to rise, you can’t leave the simpler people in life behind. We have money amd we want to put it into Bitcoin

Steps.
1. buy bitcoin on an exchange
2. sell the amount of bitcoin you need to sell to fund what you want to buy in your local currency
3. move the local currency to your bank account or paypal
4. buy what you want with cash or credit card
Hugehefner (OP)
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May 29, 2021, 06:48:58 PM
 #3

Thank you for your response but that’s not what I was asking. I want to buy Bitcoin with my cash and then buy stuff with the Bitcoin. So you answered it backwards. I’m trying to turn usd into btc abs use my Bitcoin on the same day.
Zoe Saldana
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May 29, 2021, 07:07:14 PM
 #4

Thank you for your response but that’s not what I was asking. I want to buy Bitcoin with my cash and then buy stuff with the Bitcoin. So you answered it backwards. I’m trying to turn usd into btc abs use my Bitcoin on the same day.

To buy bitcoin you need to transfer your usd from your bank account to an exchange e.g. coinbase.

You can only buy stuff from companies that accept bitcoin - that is few the USA.

So, you need to do what I wrote above.

google 'how to buy stuff with a crypto wallet'

Do this, look up companies that you want to buy stuff from and see if they take bitcoin.
o_e_l_e_o
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May 29, 2021, 07:22:39 PM
 #5

I want to buy Bitcoin with my cash and then buy stuff with the Bitcoin.
You need to figure out which fiat payment method you want to use. Most centralized exchanges will only accept things like bank transfers or credit cards, and not things like PayPal, MoneyGram, and definitely not cash. If you want to use a centralized exchange, then you will not be able to buy today - you will first have to sign up to the exchange you want, then complete their KYC procedures and wait for verification, then deposit USD using the slowness of the fiat banking system. Once your fiat is deposited, however, you can buy and then withdraw bitcoin almost immediately.

If you want to trade with PayPal or MoneyGram, then you will need to use a decentralized exchange such as Bisq or LocalCryptos. The trade also won't be instant, but you would potentially be able to buy and withdraw your bitcoin within the space of a few hours.
Fortify
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May 29, 2021, 07:28:04 PM
 #6

I need your help. This is what I’m having a problem with. I want to buy some BTC. Preferably with PayPal or moneygram and I would like to be able to do that with a Bitcoin wallet so I’d be finding the wallet through PayPal or moneygram with cash so the funds wouldn’t be tangled up for days. After I buy the Bitcoin I want to be able to buy things or transfer the Bitcoin to another business for services and I would like to do that as soon as I buy the Bitcoin even if the transaction took and hour. But everything I see is they want me to wait three to five days to be able to use the Bitcoin that I bought with cash;
Ie paypal, moneygram. That’s just not viable for me because it could be worth 20, 30 or 40% less in five days so if you know of a wallet that’s easy to fund and you can use your funds after you purchase crypto. Within an hour or two. Please let me know because there are probably thousands of people just like me that want l use Bitcoin but just can’t figure it out the way we need and in order for Bitcoin stock to rise, you can’t leave the simpler people in life behind. We have money amd we want to put it into Bitcoin

Unfortunately it is easy to "chargeback" funds via Paypal, many accounts get stolen and fraudsters have in the past used other peoples funds to buy large amounts of Bitcoin. While Paypal have improved their 2 factor authentication making this less of a problem many sites that accept Paypal in exchange for cryptocurrency will have these 3-5 day "cool down" windows. Most problems with unauthorized funds or payment reversals will be detected in that space of time, so it is a way of protecting themselves from losing Bitcoin (which they will never get back). It's a bit annoying but if you build up a reputation on somewhere like Localbitcoins.com you might be able to shrink the window of time it takes to complete.

R


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