For Beginners: blockchain.info and trucoin.com

[OROBTC]

...

I have now used trucoin.com's service to buy BTC with a credit card.  They have only been offering this service for a few days now, and it is limited to just eight states now (although they promise service to many more soon).

Step-by-step instructions for opening a wallet at blockchain.info and using trucoin.com's service are detailed below:

http://goo.gl/zllrtT

[AceWallen]

doesn't trucoin have huge fees? something like 5% fee + another mark-up (i think it was like 2% mark-up over exchange price)? seems like a pretty big haircut. not as bad as virwox i guess.

[keithers]

doesn't trucoin have huge fees? something like 5% fee + another mark-up (i think it was like 2% mark-up over exchange price)? seems like a pretty big haircut. not as bad as virwox i guess.

Yeah, I guess that kind of defeats the purpose of BTC if your sole purpose is low transaction fees.   If that is not your goal, then 5% is not too much to pay for the ability to use a credit card.

[OROBTC]

...

Yes, trucoin charges 5%.  They also charged me $3.00 as a one-time set up fee.

Still, where I am there are very few people around who will exchange BTC for my cash.  5% is quite reasonable for me.

[keithers]

...

Yes, trucoin charges 5%.  They also charged me $3.00 as a one-time set up fee.

Still, where I am there are very few people around who will exchange BTC for my cash.  5% is quite reasonable for me.

Do you not have a bank account? If so, Coinbase only charges 1% i think. You can just deposit your cash in a checking account and then use coinbase

[Daniel91]

...

I have now used trucoin.com's service to buy BTC with a credit card.  They have only been offering this service for a few days now, and it is limited to just eight states now (although they promise service to many more soon).

Step-by-step instructions for opening a wallet at blockchain.info and using trucoin.com's service are detailed below:

http://goo.gl/zllrtT

Very interesting info, thank you for sharing with us
Do you know if they will offer their service worldwide?
In other countries?

[kingaltcoins]

blockchain.info is realy safe

[AceWallen]

blockchain.info is realy safe

well, safe in what sense? an online wallet is inherently less safe than other forms of storage. but a blockchain.info wallet is much safer than a 3rd party wallet, like Coinbase, where you don't control your private keys...

[Testing123]

blockchain.info is realy safe

well, safe in what sense? an online wallet is inherently less safe than other forms of storage. but a blockchain.info wallet is much safer than a 3rd party wallet, like Coinbase, where you don't control your private keys...

In contrast, blockchain.info wallet is not as safe as an offline wallet as your bitcoin will be gone if you are using an unsafe computer and without 2FA.

[AceWallen]

blockchain.info is realy safe

well, safe in what sense? an online wallet is inherently less safe than other forms of storage. but a blockchain.info wallet is much safer than a 3rd party wallet, like Coinbase, where you don't control your private keys...

In contrast, blockchain.info wallet is not as safe as an offline wallet as your bitcoin will be gone if you are using an unsafe computer and without 2FA.

sure. but a hot wallet has its place -- you need a wallet that connects to the internet for day-to-day spending, etc. only keep what is necessary in there.

[notlist3d]

ALWAYS use 2 factor authentication when possible.

Trucoin is a little high on percent, but then again it cost's a ton to exchange btc to cash legally and comply to US laws (ie not considered money laundering in US).  Coinbase is a better option in my opion they are lower percent and also follow the know your customer and other laws.

There is always localbitcoin aswell just be careful on making sure to find someone trusted.

[d3stroy]

Thanks for sharing that with us!

I don't like online wallets like blockchain or others (i prefer to have everything on the QT or Multibit) but could be useful for someone