Circle Announces Global Launch of Bitcoin Banking Platform

[Billbags]

This is BIG. No more "Back Ally" shady trades. Also the Bitcoin is insured not only for Circle's coins, but for your coins if it's in their online wallet.

[stayeduptolate]

This is BIG. No more "Back Ally" shady trades. Also the Bitcoin is insured not only for Circle's coins, but for your coins if it's in their online wallet.

Ya being insured is HUGE!

[BusyBeaverHP]

I was able to register my Visa debit card and withdraw my purchased BTC all within 5 minutes. This is amazing.

[BitChick]

Does anyone know where Circle gets the Bitcoins that they sell?  Do they have a relationship with any of the exchanges?

I assume that they have already accumulated a decent amount but with this launch they will need more coins at some point.

[snappa4ever]

Will be watching this very good step in right direction in terms of consumer protection.

[newIndia]

http://www.coindesk.com/circle-global-launch/

Just signed up and going to test 

Can someone plz sum up the basic purpose of Circle ? I read the following on their website...

Circle is a consumer finance company focused on transforming the world economy with secure, simple, and less costly technology for storing and using money.

Is it an exchange like Bitstamp or a payment processor like BitPay ?

I just did something that up until today was not possible.
I signed up for an account and sixty seconds later bought BTC (at the current rate!) with a credit card and then sent the BTC to my wallet.

If it never does anything else that would be enough to make me 

Now, if u deny your credit card payment or use a stolen credit card, how will Circle stop u from scamming ?

[stayeduptolate]

Does anyone know where Circle gets the Bitcoins that they sell?  Do they have a relationship with any of the exchanges?

I assume that they have already accumulated a decent amount but with this launch they will need more coins at some point.

I am not sure I know they had like 25 millions in funding I think? So that should help.

[GenTarkin]

This is cool and all, but is there any actual PROOF of the insurance claims? I havent seen them... but also havent really paid that close attention to Circle.

[Jacqul]

I have just made the easiest quickest and cheapest BTC purchase ever.
I am very impressed with Circle.

My BTC purchase history:

1. Mined early: Quickly perceived to become a poor return thanks to the fact that I prefer Nvidia gfx cards. (Irony is that at today prices I should've kept mining!) Spent most of that mining on stupid purchases purely for the novelty of using magic internet money.

2. Buy local: 10%-20% markup from local sellers and they keep coming in and out of existence, generally fear that I will get ripped off. Bought some of my most expensive BTC like this.

3. Decide to use an exchange. Decide poorly. Decide... ((shudder)) on mtgox. Costs me to transfer money to Japan but cheaper than buying second hand local. My bank now has a file on me I am sure. Time delays but manage to get BTC into local wallet. Get confused and dilute BTC into numerous alts and other exchanges. Too much fun to stop. Need more BTC. Send more money to Japan. Things go horribly wrong. BTC now sadly stuck in limbo.

4. Thinks to try OKPAY. Another bad decision. Verification, rip offs etc. Experiment costs me a small amount but fingers burnt.

5. Considers mining but can't trust hardware companies and now too sceptical of everyone and everything. Calculates that it is cheaper and safer to just buy BTC.

6. Back to buying local. Finds a great vendor. Sees the light and realizes this is the way it is supposed to be. Puts up with 10% markup for vendor.

7. Decides to try Circle. 18h00: make account. 18h10: link credit card. 18h12: deposit $500. 18h13: withdraw 1.3BTC to wallet.
So far I am impressed! Someone please stop me and tell me if you think I am heading for another (3) or (4).

[KJO]

I am also impressed. The speed and ease with which signup and deposit occur is EXACTLY what bitcoin has been missing.

This is a coinbase killer. Coinbase, it's been nice knowing ya.

[knight22]

I just signed up and bought bitcoins with my credit card from Canada in 5 minutes!  Mind = Blown

[smoothie]

I have yet to try it myself but I can see how Circle is taking a huge risk allowing immediate withdraw of bitcoins that are purchased with a debit or CC.

[a447513372]

I am also impressed. The speed and ease with which signup and deposit occur is EXACTLY what bitcoin has been missing.

This is a coinbase killer. Coinbase, it's been nice knowing ya.

Coinbase takes a long time because they have risk controls to prevent people from stealing someone's identity and bank information then buy bitcoin with such information. As a result they are able to charge a relatively small markup on the bitcoin they sell.

If circle is allowing people to buy and withdraw bitcoin in ~10 minutes then they will likely end up getting scammed by a lot of people and will quickly go out of business.

[BitCoinDream]

I just signed up and bought bitcoins with my credit card from Canada in 5 minutes!   Mind = Blown

-snip-

Are they allowing to use Credit Card for only the residents of US & Canada or Credit Card can be used from across the globe ?

[knight22]

I just signed up and bought bitcoins with my credit card from Canada in 5 minutes!   Mind = Blown

-snip-

Are they allowing to use Credit Card for only the residents of US & Canada or Credit Card can be used from across the globe ?

It depends. You should take a look here http://www.reddit.com/r/Bitcoin/comments/2hs8wa/can_we_make_a_list_of_countries_which_circlecom/

[FuegoTropicalArrrrrrriiii]

Have to say this was my first time using Circle and it was a fantastic and easy process.  Way better than my other experiences with buying bitcoin. 

Told a friend of mine who lives in latinoamerica about about it, he tried it out and was amazed that he finally could buy bitcoins with a credit card.

[BitCoinDream]

I just signed up and bought bitcoins with my credit card from Canada in 5 minutes!   Mind = Blown

-snip-

Are they allowing to use Credit Card for only the residents of US & Canada or Credit Card can be used from across the globe ?

It depends. You should take a look here http://www.reddit.com/r/Bitcoin/comments/2hs8wa/can_we_make_a_list_of_countries_which_circlecom/

Thank you for providing the link. It is pointing to this post => http://koinify.com/blog/cryptocrowdfunding-now-instantly-possible-thanks-to-circle/

As I can see, for many countries they are allowing either VISA or MasterCard !!! WTF is that ? Is it incorrect listing or Circle is truly distinguishing between VISA & MasterCard on country basis ?

[moriartybitcoin]

lol Circle is going to get carded/scammed in a big way.  But that's ok, they can afford it, with that $20mil in VC funding. But when that runs out and fails to cover the losses, what do you think will happen to Circle and all its users?  Can you say GOXED ?

[knight22]

lol Circle is going to get carded/scammed in a big way.  But that's ok, they can afford it, with that $20mil in VC funding. But when that runs out and fails to cover the losses, what do you think will happen to Circle and all its users?  Can you say GOXED ?

From what I understand, CC charge back are probably impossible to make with Circle.

[CoinsForTech]

Epic! Huge barrier to entering the market has been removed! Looking forward to seeing more people using BTC for every day transactions.