Bitcoin is simply too difficult to buy to gain acceptance - page 3.

Ailmand

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Quote from: kingplaya4 on January 20, 2019, 07:55:19 AM

Since I've been under the weather and didn't feel like an hours motorcycle ride back and forth to the bitcoin atm, I tried to buy some online. Big mistake! After a selfie with an explanation of the purchase while holding my ID which was difficult to hold up living alone- although I did manage a clear pictures, then two pictures of my id with my payment card, the purchase was rejected by the exchange and I was told to use another card.

I told them to forget it, and I would like a selfie from the exchange's CEO holding a signed note wherein he promised to destroy all pictures and information I had provide them with.

Who wants to put up with such nonsense? The only reason I deal with the ATM is for online gambling, which our countries cause us to lose more money on since we have to pay extra USD to buy the bitcoin, and then lose a couple of points when it is deposited.

If it was easily available within 1% of spot, it might find adoption- like if you could buy it the way you buy anything else online, simply type in your cc number and four digits on the back. Btc is supposed to be anonymous and easy but it is neither.

I think it all depends on what country do you live on. In our country there are plenty of ways to buy bitcoin. There are some merchants where you can make an online payment and just pay it on the cashier for your bitcoin to be credited on your online wallet. However, having such convenience doesn't mean bitcoin is easily adapted in our country, a lot of people from our country are still not aware of it.

adzino

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Why would you want to buy bitcoins from a service that asks for your photo identity and all other information (which they can sell for a sweet hefty profit!) while there are other ways available? You could have done a peer to peer aka face to face transaction from any local guy near you. LBC can help you in this case. Sad that we have to go through these stupid KYCs when trying to buy bitcoin online. We actually do need an easy and better solution to buy bitcoins online.

kawetsriyanto

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I think that buying a Bitcoin is not only for gaining acceptance. Now, we can see that the acceptance of BTC is actually greater in some cases and countries, however, they are limited.
But, buying bitcoin can be a very promising way in order to gain more profits let's see how we make the Bitcoin profits from trading and also investing.

Ezenwanyi1

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I think the part where you were requested to hold a card with and explaination and the selfie is a kyc process by the exchange.
It's nothing out of the ordinary in cryptosphere .

Bl4nk

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Quote from: xvids on April 02, 2019, 05:53:39 PM

I think it depends on your country or where you live .
Look at us here in the Philippines we could easily buy or sell our Bitcoin using our local wallet Coins .
We could also do more with our local wallet like pay our bills and buy some stuffs online.

is it possible to depend on the country we live in to buy bitcoin and sell with our own wallets, and which countries do you know that are not difficult to buy bitcoin or sell bitcoin like in your country

Malsetid

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Quote from: xvids on April 02, 2019, 05:53:39 PM

I think it depends on your country or where you live .
Look at us here in the Philippines we could easily buy or sell our Bitcoin using our local wallet Coins .
We could also do more with our local wallet like pay our bills and buy some stuffs online.

Yeah but how's the mainstream acceptance there? There may be a lot of things you can do with btc there but the majority of the people still doesn't have that much trust or confidence in bitcoin. Same as anywhere in the world i think. We're still a long way to go but the important thing is we're moving towards the right direction.

xvids

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I think it depends on your country or where you live .
Look at us here in the Philippines we could easily buy or sell our Bitcoin using our local wallet Coins .
We could also do more with our local wallet like pay our bills and buy some stuffs online.

NoSkyLimit

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This is actually one of the bitcoin problems that people all over the world joined into crypto to make quick money and they forget the tech behind cryptos wich give them life and a purpose to make people to use them in daily bases so lets look more to the brighter side of bitcoin and teach people about the tech involved here

serjent05

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Quote from: perry8912 on January 20, 2019, 08:04:28 AM

Why do you need acceptance? Do you really believe in Bitcoin??
Don't be a fool. Most of us mine and trade bitcoin here is to make profit, not to use it as real currency. Right now in bear market, I do short selling, just like stocks. Either way, I make money from it, and that's enough.

That's what he needed at that moment dude.

Everything you said is true for every investor I believe but during instance like that one when you don't have any other option and you need it badly so you have to try. It is true, it sucks, this KYC regulation sucks and it goes against bitcoin feature which is anonymity. Some have cash and some have only crypto and that's it, you will also need to use it but there is not much option or means.

kingplaya4

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It proved impossible for me to buy bitcoin online with a credit card or with a debit card with plenty of money on it. Even sites that are listed that claim to need no ID like coinmama insisted that I provide them with all types of documentation. In several cases I got near the end of the process and was rejected for unknown reasons. Someone on here mentioned it is quite easy in the Phillipines. That maybe so, but in several other countries I have lived in it is not.

cryptjh

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Setting up your first wallet, and then buying a small fraction of bitcoins just to see how the bitcoins blockchain works, are for most people a big step. That's why it's recommendable to use an exchange when you buy your first bitcoins, you just need to remember your passwords, and even if you forget that, the exchange will most likely help you to log in again.
Buying bitcoins are easy enough, you just need a credit card with some money on it. After you got your bitcoins, then get them off the exchange, being your own banks, that's what bitcoins are all about. Your keys your coins.

Cryptoobiobi

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To buy transfer or deal bitcoin, one needs a long alpha-numeric mix of keys called public key or wallet address. Its vey difficult to cram this wallet address and this is for one to copy and paste from where they are saved.
To me Bitcoin is very easy to buy as all you need is exchanges that converts fiat to crypto like Binance, Bittrex, etc and pay with your credit card.
Bitcoin wallet is complex but secured. Its easy to use
In conclusion. it is clear that as long as the industry grows, security challenges must be faced

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Quote from: Sithara007 on April 01, 2019, 11:11:21 PM

These issues existed even when I started my crypto journey in 2014. And unfortunately, even now there is hardly any improvement in the situation. Here in India, there is no blanket ban on bitcoin usage. But new regulations have made it extremely difficult to buy or sell BTC. The easiest option right now is to do that using localbitcoins.com and pay for your coins using bank account. But that comes with added risk, as the government is very hostile to crypto usage.

The government does have the power to regulate crypto circulation, some countries have support and some have refused.
But remember that the use of bitcoin is free because as long as we can access the internet, we can also access and use Bitcoin.

coingecko

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Get it from Coinbase instead, the purchase process is so much easier

gabmen

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Quote from: kissme09 on April 01, 2019, 11:07:01 PM

This is one of the problems that we always fear. When we provide information to make KYC mandatory from exchanges, no one knows that our personal information has disclosed or an item of information merchants. I am perturbed when implementing the required KYC from the development team of the platforms.

Unfortunately it's something that we're all required to comply with. The days when it doesn't require kyc and other identity verifications are fast coming to an end. I guess moving forward, it's necessary to do that since the bigger this industry grows, the more security challenges we may face.

Sithara007

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These issues existed even when I started my crypto journey in 2014. And unfortunately, even now there is hardly any improvement in the situation. Here in India, there is no blanket ban on bitcoin usage. But new regulations have made it extremely difficult to buy or sell BTC. The easiest option right now is to do that using localbitcoins.com and pay for your coins using bank account. But that comes with added risk, as the government is very hostile to crypto usage.

kissme09

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This is one of the problems that we always fear. When we provide information to make KYC mandatory from exchanges, no one knows that our personal information has disclosed or an item of information merchants. I am perturbed when implementing the required KYC from the development team of the platforms.

Kasabus

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Quote from: AjithBtc on April 01, 2019, 08:27:13 AM

Quote from: ethereumhunter on March 31, 2019, 06:39:38 AM

Quote from: lyks15 on March 31, 2019, 06:06:56 AM

I strong disagree! Here in PH we can buy bitcoin anywhere. In convenience store,remittance center or even in the house in using bank creditcard. And one of popular bank in our country are now starting to launched their first bitcoin atm by unionbank. In convenience store we can buy bitcoin even in a late night or early in the morning so I think problem in buying bitcoin is doesn't a problem.

You are so lucky because not all of us can do that in our country. Maybe some of us having trouble to buy bitcoin because they are hard to find the local store that accepting bitcoin. Maybe in the future, they could do this, and while they are waiting at that time, I think they can try to search another way so they can buy bitcoin. Maybe they can ask their friends or search on the internet, and I am sure that they will find it.

Yes, people from Philippines were more lucky to have access for buying and selling of bitcoin all around their country. Next to China and Japan, Phillipines seems to be the country with the largest acceptance of cryptocurrency. In my country the government hasn't shown any signs of support or opposition. It stays almost in a neutral stand, upon which we haven't got that access as Philippines. Here most of the transactions were done through exchanges.

The law is not so strict but the adoption is still low compared to other countries.
Philippines is still developing, while some other countries who are already develop have more potential to use crypto.
Think it this way, this is online and not everyone can use, in the Philippines, not even majority of the people has a bank account.

AjithBtc

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Quote from: ethereumhunter on March 31, 2019, 06:39:38 AM

Quote from: lyks15 on March 31, 2019, 06:06:56 AM

I strong disagree! Here in PH we can buy bitcoin anywhere. In convenience store,remittance center or even in the house in using bank creditcard. And one of popular bank in our country are now starting to launched their first bitcoin atm by unionbank. In convenience store we can buy bitcoin even in a late night or early in the morning so I think problem in buying bitcoin is doesn't a problem.

You are so lucky because not all of us can do that in our country. Maybe some of us having trouble to buy bitcoin because they are hard to find the local store that accepting bitcoin. Maybe in the future, they could do this, and while they are waiting at that time, I think they can try to search another way so they can buy bitcoin. Maybe they can ask their friends or search on the internet, and I am sure that they will find it.

Yes, people from Philippines were more lucky to have access for buying and selling of bitcoin all around their country. Next to China and Japan, Phillipines seems to be the country with the largest acceptance of cryptocurrency. In my country the government hasn't shown any signs of support or opposition. It stays almost in a neutral stand, upon which we haven't got that access as Philippines. Here most of the transactions were done through exchanges.

eaLiTy

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Quote from: kingplaya4 on January 20, 2019, 07:55:19 AM

If it was easily available within 1% of spot, it might find adoption- like if you could buy it the way you buy anything else online, simply type in your cc number and four digits on the back. Btc is supposed to be anonymous and easy but it is neither.

It is a cause of concern for sure, bitcoin is considered as a high risk transaction by every payment gateway and so is the reason you will find it difficult to purchase bitcoin using a debit or a credit card, as it mandatory to provide your photo shoot Tongue

with all your identity details and even then they might reject your transaction if they find you have logged in from a different location to purchase the item, it is not an easy process but using net banking it is much easier, but i might take a couple of days to get credited.

Topic: Bitcoin is simply too difficult to buy to gain acceptance - page 3. (Read 1036 times)