Topic: Buy bitcoin with cash deposits at most banks in the USA with Bitcoin-Brokers - page 16. (Read 104478 times)

If you are a buyer or seller with this network and are profiting from it, do you have to like.. follow some kinda regulations or anything? Pay taxes? Is it legal?

Effective immediately the minimum order size is being raised to $400.

There are 2 main reasons for this increase:

1)This will cut down on the sheer number of deposits into each seller's account.

2)It will eliminate 3/4 of my workload and allow Bitcoin-Brokers to try to service orders where there is a little more meat on the proverbial bone. Every buyer has been appreciated thus far and even though this will block a good number of orders, it is simply a decision that needs to happen. There is an incredible amount of energy that goes into communicating with each client at each stage of the transaction to ensure both parties know exactly where they stand at every point in the transaction. Anybody who has dealt with me can attest to that fact.

The website will be updated momentarily.

Thanks.

Thanks guys.

Just wanted to say that I recently started using this service for the first time, sending a small BTC deposit to sell.

OP / sayulita pleasantly surprised me with great communication and also two sales were quickly processed today, resulting in two cash deposits in one of my bank accounts.

So it's so far so good for me, and for now, I will continue using this service.

Dropped deposit today after waiting ~48 hours for confirmation of available btc (this includes missing out on some that were bought up before I got to the email). Just now sent him confirmation, will report back when the funds appear in my wallet

So far so good, now the important part.

I just bought Bitcoins through Bitcoin-Brokers and I'd like to detail my experience for future customers since I know that it's hard to know who to trust on the internet. Buying through Bitcoin-Brokers, fortunately, went smoothly and as advertised.

For anonymity, the times I use will start at 0, the first time I contacted the business, and progress until the time the Bitcoins arrived in my wallet.

+0:00    Contacted Bitcoin-Brokers for the first time
+0:26    Got a reply mentioning the options
+1:35    Replied with what seller I wished to buy from
+1:45    Got a reply that it was after banking hours and I could pick it up in the morning
+19:05  Replied that I was still interested (my morning hours)
+19:14  Got a reply that the Bitcoins I was interested in were gone, and got new options
+19:26  Replied with the seller I wanted
+20:04  Replied with info I forgot
+20:18  Got a reply that the Bitcoins I wanted were already sold, got new options
+20:22  Replied, again, with the seller I wanted
+20:26  Got some clarification
+20:27  Provided clarification
+20:38  Received deposit instructions. At this point the Bitcoins I wanted to buy were put on hold
+21:34  Got back from the bank and emailed the required documents
+21:58  Received the Bitcoins I had bought

As you can see, he was quick to respond most of the time, and even after waiting until the morning I was still able to get Bitcoins, completely anonymously (I never had to provide ID in the process) in under 24 hours.

The seller wanted 5% on top of the Mt Gox rates, and Bitcoins-Brokers took 2% off of the Bitcoins I had bought (they never handle the money, so they are not money transmitters. They get paid in Bitcoins form the buyer).

Overall sayulita provided excellent service and I will use Bitcoin-Brokers again in the future.

Bitcoin-Brokers has bitcoin for sale now in Canada.

There are over 200 BTC which can now be purchased at www.Bitcoin-Brokers.org at any TD Canada Trust branch in Canada.

Smaller orders are sold for 5% above CAVirtex rates including the Bitcoin-Brokers' 2% fee.

Anybody who wants to buy the whole 200 BTC can buy these for CAVirtex rates +2% Bitcoin-Brokers fee.

In case anybody is curious, this transaction is complete. The seller released the bitcoin to the buyer.

At the bottom of all quotes, clients are reminded that they need to complete transactions by a certain time. When buyers are quoted a price, Bitcoin-Brokers needs to place a hold on the seller's bitcoin. If and when a deposit is not made that same day, Bitcoin-Brokers releases the hold on the bitcoins so that a new buyer has the opportunity to purchase the bitcoin the following day.

In this situation, Bitcoin-Broker had sold all the seller's bitcoin, so when the buyer made the deposit the next day, there were no bitcoin held in escrow. Luckily the seller and I worked through all the deposits into his account and we were able to determine that the buyer had indeed made the deposit. The seller transferred the bitcoin to Bitcoin-Brokers and the buyer has now had his bitcoin transferred.

If anybody fails to make the cut-off time for a deposit in the future, simply ask for a new quote for the next day. This will prevent this sort of thing from ever happening.


Thanks.

You've really none to blame but yourself in that case, especially because it seems like you knew it was an issue previously  

I'd hope that Bitcoin-Brokers does what they can to get your money back, and the seller holding your illegitimate funds shouldn't be allowed to sell more till you are settled at least...

Ive used this service and it was extremely quick and easy. Ill most likely use it fairly often.

Little bummed out, I guess it's my fault but I got a quote for some coins after banks were closed in my area, so I went the next day and deposited the money and the sellers coins were all already gone... so now he has my money, I have no coins, and bitcoin-brokers can't seem to get in touch with the guy... it's basically the same situation I posted about before. Hopefully he's a good dude and comes through.

 

Effective immediately www.Bitcoin-Brokers.org is changing the manner in which pricing is determined on the site. The website will be adjusted within the next few hours to reflect the changes, yet I wanted to announce the upcoming change here.

Sellers can now list their bitcoin for sale at whatever prices they want.  Bitcoin will be available at different prices at different banks. When a buyer requests a quote, they will be presented with the available inventory of bitcoin at each bank, along with the price which each seller needs to be paid. Bitcoin-Broker’s fee paid by the buyer is 2%. There are zero fees paid by the seller of bitcoin.

Buyers will then choose which bank and price they prefer.  Bitcoin-Brokers will then forward the necessary deposit instructions to the buyer to complete the transaction. After the buyer has made the cash-only deposit into the seller’s account, the buyer will need to photograph the deposit receipt and upload that receipt to the same support ticket that was used to initiate the transaction as proof of deposit.

The proof of deposit is forwarded to the seller who confirms the deposit has been made into their account via their online banking. The seller then grants Bitcoin-Brokers permission to release the escrowed bitcoin to the buyer and the transaction is complete.

The buyer is always guaranteed to receive bitcoin because each seller needs to place their bitcoin in escrow with Bitcoin-Brokers prior to Bitcoin-Brokers presenting the seller’s bitcoins as available inventory to interested buyers.

FAQ

Q)
The price of bitcoin moves up and down in the open market. At what point through the transaction are  prices determined?

A)This depends on two things which are both up to the seller. Sellers have the choice of working with Bitcoin-Brokers in a couple different ways. If sellers simply have a supply of bitcoin which they want converted to cash deposits, then Bitcoin-Brokers will use the time on the buyer’s deposit slip as a point of reference to establish the pricing of the bitcoin.

If the seller is buying the bitcoin directly from an exchange to pair off the order, then Bitcoin-Brokers will allow the seller to take a screenshot of the paired off purchase. The price which is displayed on the screenshot will be used as the price. This will allow the seller to “lock in” a guaranteed profit. The screenshot will also be forwarded to the buyer as a form of receipt, so the buyer has confidence that the price they paid per bitcoin was in fact the actual price at the time it was purchased out of an exchange.

Q)How long after a deposit has been made, and proof of deposit supplied before bitcoin are released to the buyer’s wallet?

A)Bitcoin-Brokers will release the bitcoin as soon as we are given authorization from the seller to do so. We allow the seller until 8:00 am PST the following day to confirm the deposit and authorize the release of bitcoin. In the event that proof of deposit has been submitted, and the seller becomes unavailable for any reason,  Bitcoin-Brokers will complete the transaction on behalf of the seller with the seller’s escrowed bitcoin. If this happens, the time on the buyer’s deposit slip will represent the time at which pricing of the bitcoin is determined in all cases.

Q)Do quotes ever expire?

A)Yes. After a buyer has been presented with deposit information, Bitcoin-Brokers needs to place a hold on the seller’s escrowed bitcoin to ensure that we only sell what we can deliver. The buyer has until 6:00 pm their local time to make the deposit and upload the deposit receipt as proof of deposit (2 hour extensions may be granted if the buyer needs extra time to make it to the bank). If the deposit has not been made by the cut-off time, the quote expires, the hold is taken off of the bitcoin, and the bitcoin are available for sale again to a new buyer. As a buyer, if you miss the cut-off time, never attempt to deposit with the same deposit information. Ask Bitcoin-Brokers for a new quote.

Q)I am a repeat buyer. Should I open a new ticket for each new purchase? Or should I re-open the same ticket from the previous transaction?

A)Please re-open the same ticket. That way all conversations regarding all your transactions can be found in one place.

Q)I bank at the same bank as the seller. Can I simply perform an account to account transfer?

A)No. The only form of payment which is acceptable is a cash deposit.

Q)Will Bitcoin-Brokers escrow a private bitcoin purchase where the buyer and seller have already found each other and they simply need a trusted source to use as an escrow service?

A)Yes. The fee for this is 1%. Minimum transaction size for these transactions are $1,000. There are no maximum sized transactions.

Q)As a seller, can I ask for my bitcoin back?

A)Yes. Your bitcoin can be returned at any time. There is a 1% fee to return bitcoin.

Q)Are there any minimum transactions values?

A)The minimum transaction amount at Bitcoin-Brokers is $100.

I think it would be clearer if as well as saying how many coins were available for purchase at a bank, ie:
"Currently there are a total of 5 bitcoins available for purchase at any Sun Trust."
you also said when there were none, ie:
"Currently there are a total of 0 bitcoins available for purchase at any Wells Fargo."

Also where can one see the coins for sale in other countries banks, like Lloyds? Many thanks.

Come on legal eagle ... you have just thrown down an accusation in public and he has responded. What say you now?

Why couldn't you have thought this up instead of spending endless hours fretting and pants-wetting over when FinCen is going to be busting down your door? To me it looks quite simple and along the lines of what freely associating and trading people should be allowed to do in a free society, trade.

What do you want next, ban all transactions between people that the lawyers don't want happening? You people really are the problem, not the solution ... the worst thing is you can't see past yourself what an absolute hindrance and drain on society you really are.

Expect some news coming out tomorrow regarding www.Bitcoin-Brokers.org 

Just dropping more positive feedback, I'll leave it right here!

I think you mean to say that it "smells a little fishy". Mind you........ maybe fish have a voice.

sounds a little fishy from over here

We have a new seller on board who just listed a single bitcoin at BMO Harris. Its a small amount, but he has more to sell if he can see this one gone. I think he just needs to see that this service is legit, which is understandable.

Might be a good first test order for a first timer.

Thanks.

It's all good.