Safe way to buy Bitcoins?

[Celroc Amaul]

Hi all,

  I was wondering, what would be a safe way for both parties involved to exchange traditional currencies with bitcoins?  I'd prefer to do my trading online if possible.  I've seen listings on eBay for them, but I feel that buying from there might inconvenience the sellers if PayPal decides to freeze their accounts. 

  Thanks!

  Celroc

[1715092689]

1715092689

[TrailingComet]

Go thru localbitcoins
Face to face is the best way but time consuming

[BitCoinDream]

Hi all,

  I was wondering, what would be a safe way for both parties involved to exchange traditional currencies with bitcoins?  I'd prefer to do my trading online if possible.  I've seen listings on eBay for them, but I feel that buying from there might inconvenience the sellers if PayPal decides to freeze their accounts. 

  Thanks!

  Celroc

Depends... from which country u r ?

[bitkanu]

Go thru localbitcoins
Face to face is the best way but time consuming

yeah its very time consuming but you are totally risk free in this process . if you try another option its has risk for losing bitcoins from your wallet

[RodeoX]

I would recommend never using PayPal or considering an offer at a low rate. It is a drag, but you should either use localbitcoins or research exchanges in your country then fund your account with a USPS money order. Then, after executing a buy, withdraw your bitcoin right away. If you do not have total control of your private keys then you do not own any bitcoin. An exchange could close anytime and leave you Satoshi-less.

[Celroc Amaul]

Thank you all for your replies.  I guess I neglected to mention that I'm in the USA and intend to exchange USD for Bitcoins.  I can definitely see some advantages to using localbitcoin, but am still interested in online transactions for convenience. 

I might look into some local Bitcoin exchanges.  Why might I consider a USPS money order over, say, a tradtional credit card if buying from an exchange?  I assume that it is a type of security against chargebacks?

Thanks!

Celroc

[Dare]

Thank you all for your replies.  I guess I neglected to mention that I'm in the USA and intend to exchange USD for Bitcoins.  I can definitely see some advantages to using localbitcoin, but am still interested in online transactions for convenience. 

I might look into some local Bitcoin exchanges.  Why might I consider a USPS money order over, say, a tradtional credit card if buying from an exchange?  I assume that it is a type of security against chargebacks?

Thanks!

Celroc

Coinbase is a good US exchange, I've been pretty happy with them. You'll need a bank account to transfer dollars in and out though, with a credit card as backup to increase the limit for instant purchases.

The money order vs. credit card question is for safety against chargebacks on the side of the exchanges, as credit cards, paypal, etc. are easily reversible while bank transfers, money orders, and the like are far harder or even impossible to reverse. That's why it's so hard to buy bitcoins with paypal, and one of the reasons against using ebay.

[RodeoX]

Thank you all for your replies.  I guess I neglected to mention that I'm in the USA and intend to exchange USD for Bitcoins.  I can definitely see some advantages to using localbitcoin, but am still interested in online transactions for convenience. 

I might look into some local Bitcoin exchanges.  Why might I consider a USPS money order over, say, a tradtional credit card if buying from an exchange?  I assume that it is a type of security against chargebacks?

Thanks!

Celroc

That and calling a crooks bluff. If they defraud you with a USPS money order they are involving themselves in mail fraud. That is a serious thing in the U.S. and they are taking on huge additional risk. A money order is also like trackable cash. I can see when the exchange receives it, and can cancel before they do if there is a problem. In the end I have a record of what happened and who got the money.  
Like you I prefer buying online. I wish I could recommend an exchange that is totally trustworthy, but I have not found one yet. They normally have crappy service and are slow at everything. A few are even scams.

[Rawted]

I would use coinbase over localbitcoins any day of the week. Localbitcoins was decent when it first came out, but nowadays is just a pain in the ass.

[Bru]

I would recommend never using PayPal or considering an offer at a low rate. It is a drag, but you should either use localbitcoins or research exchanges in your country then fund your account with a USPS money order. Then, after executing a buy, withdraw your bitcoin right away. If you do not have total control of your private keys then you do not own any bitcoin. An exchange could close anytime and leave you Satoshi-less.

Why wouldn't you use paypal to buy ? I understand why wouldn't you sell, but I don't see the harm in buying.

[RodeoX]

I would recommend never using PayPal or considering an offer at a low rate. It is a drag, but you should either use localbitcoins or research exchanges in your country then fund your account with a USPS money order. Then, after executing a buy, withdraw your bitcoin right away. If you do not have total control of your private keys then you do not own any bitcoin. An exchange could close anytime and leave you Satoshi-less.

Why wouldn't you use paypal to buy ? I understand why wouldn't you sell, but I don't see the harm in buying.

I just don't like them. lol
No, it is because trading bitcoin is against their TOS. I don't trust them to do the right thing in a dispute since I would be operating outside of their rules.

[Soappa]

I would recommend never using PayPal or considering an offer at a low rate. It is a drag, but you should either use localbitcoins or research exchanges in your country then fund your account with a USPS money order. Then, after executing a buy, withdraw your bitcoin right away. If you do not have total control of your private keys then you do not own any bitcoin. An exchange could close anytime and leave you Satoshi-less.

Why wouldn't you use paypal to buy ? I understand why wouldn't you sell, but I don't see the harm in buying.

No, it is because trading bitcoin is against their TOS. I don't trust them to do the right thing in a dispute since I would be operating outside of their rules.

+1. Paypal can ban your account for that reason.
https://bitcointalk.org/index.php?topic=448847.0

[Cryptogirl82]

I have made good experience from buying through ebay.is a bit expensive though!

[cookiemonsterwhat]

Most of the bitcoin I bought was from localbitcoins on face to face transactions or other safer methods thats provided on there.

I know I may not get like an exchange price which is better, but I rather pay a slight premium on most will get their funds held not getting that price or other stressful process.

[DartMaul]

Hello!
I think one of the best ways is buy its online with paypal on https://www.virwox.com/ or you can use one of exchange markets with good reputation.

[SherdonIke]

Why online transactions are better? I suppose that offline ones are much more convenient

[Yuki1988]

I think one of the best ways is buy its online with paypal on https://www.virwox.com/

Virwox is legit from what I heard, but the fee is really very high IMO.

[etm]

Coinbase.

[techgeek]

Hello!
I think one of the best ways is buy its online with paypal on https://www.virwox.com/ or you can use one of exchange markets with good reputation.

Yeah but the linden is a premium with fees that add up.. also the rate thats going for the btc.

You pay like three fees just to get btc, and the rate linden is going for.

[precrime3]

coinbase is pretty reputable... If you had the time you could buy amazon gift cards and try to sell those for Bitcoin.