Topic: Buying 40Ks BTCs in Australia (Read 334 times)

No one here in Australia puts the dollar sign after the amount.  I highly doubt you are in Melbourne.

If you do indeed have $ 40,000 in Australia, you would be better off doing your transaction at Get Paid in BitCoins https://www.getpaidinbitcoin.com.au/

Whether he exchange the big fund or high amount exchanges would work as same buddy. When you find the trader in the forum to exchange the fiat cash for bitcoin, you have to use the escrow for the trade to secure it for both the person. You may use the different option to exchange the cash for bitcoin in localbitcoins.com. This is perfect place to buy or sell the bitcoins. All you need to do is check the trusted traders with the feedback and trust rating of them.
After that open the trade until you see the payment or bitcoin in the wallet, don't release the payment.

Just use bpay and btcmarkets.net

If you are trying to buy it under the table..I wouldn't risk it for that sort of cash...

Mate that way it will take us few months, I want to do this in 2-3 transactions if possible. Start with may 5Ks, Once thats is then another 15 , followed by 20.

I would do that in steps
tell them you will first exchange a very small amount so you will be bringing too much cash
and get to know the other person a little

Oh course not 40,000.. Maybe 500 a day for a week? I need around 4k cardless cash. CBA is max 500 a week. Westpac is 1k for a week also.

We can do 1:1

40Ks wont come via cardless cash, banks wont allow that.

What ? Why !

Bring someone with you. Meet up at a very public place. Avoid offers to do the deal in a hotel room (even if they insist) or inside a car, especially if they intend to drive somewhere "to get the coins" or "to do the deal in a private location".

A good place would be a bank. If the seller is legit, they will want assurance that your $40k is genuine money. Suggesting a bank is therefore good for both parties. You get to transact safely inside a bank (can't get any safer) and they get to check your money, perhaps by depositing it into their account. Be careful of requests to first get your money and check if it's ok. For example, by depositing it into their account first to see if the bank accepts it and is therefore genuine. Once deposited, they can just walk out of the bank and ignore you.

It's a sensitive element of the transaction, the who-goes-first part. Either you pay them first and when they are happy, they send the coins or they send the coins first to your wallet and if you're happy, you pay them.

Selling in person can be a tricky and risky business. Try to get to know the buyer a bit more before meeting up. Like where he lives, a phone number perhaps, facebook and maybe even googling him.

And lastly, when coins are sent, be sure (and doublecheck!) that they were sent with the correct mining fees. This is very important. If the fees are extremely low, there is a chance the transaction will never confirm and it will return to the sender's wallet. Check for other things like doublespending or if the transaction has previous unconfirmed inputs with very low mining fees.

Op take a picture of the cash

Appreciate your comments. Anything in particular I shall watch out for ?
I was thinking of doing this transaction in public place in everyone's view, what else can I do make sure I am not robbed or scammed.

Can you do cardless cash?

Be cautious with PM offers from non-locals. I know you are looking for sellers based in Australia but it's always healthy advice to stay alert and careful at all times. There are some non-local scammers who can be very creative and will improvise devious ways to make a quick buck.

If they realize you strictly operate locally, they might find naive locals to act as a conduit for receiving your 40k AUD. It's the classic MITM scam. Be wary of deals that sound too good to be true or when a trade starts getting complicated ("I can't do it, travelling overseas so I suggest my brother or cousin in Broome or Port Hedland deals with you.."). You will notice that they will suggest places that are geographically remote which is intentional to avoid meeting up. To spice things up, they will sweeten the deal by countering your preev + 2.5% offer with much more tempting terms.

With local offers, stay safe. People have been known to meet up and were later assaulted and robbed.

Received few PMs but most are not local.
If anyone in Australia is looking for selling BTCs for cash, I can buy preev + 2.5 . Thanks.

All - Thank you everyone who has sent me a PM. As I am new I can reply to 1 PM per hour so pls wait for my response. Thanks !

Yup  , 40,000$ worth BTCs , not 40 BTCs. Can not afford that .. Yet

This will not be an easy task to pull off in Australia. Banks are anti-bitcoin and $560,000 cash is almost unrealistic in a country where banks proactively report and monitor enormous money movements.

If it is indeed a serious offer, how will you pay for the bitcoins? Bank transfers in Australia are notoriously reversible when bitcoin becomes part of the equation. Simply mention this to the bank and they will move mountains to stop the money in it's tracks.

I'm curious. Enlighten people here how you want to pay for the 40 BTC.

PS... I just reread OP's post. AUD 40,000. Oh ok, that's definitely realistic. Sorry I thought it was 40 BTC.

Hi guys,

A newbie, looking to buy 40Ks worth BTCs in Australia/Melbourne. I understand I am a newbie on this forum so happy to do it in person or any other way which works. 

Thanks !