Topic: Buying first Bitcoin in 2015, still extremely frustrating.. (Read 2167 times)

Why don't you just open an account with Bitstamp? They're one of the most trusted Bitcoin exchange around. Their verification process might take a few days but it is simple and straightforward, you only need scans of your passport/ID and proof of address. Once you're verified you can then add your bank account and transfer your money. You can also look at localbitcoins.com if you wanna buy with PayPal, Skrill, OkPay etc. Normally, I use Circle but I decided to try them for the first time yesterday after I found ~$5 I'd forgotten about in my Skrill account  Transaction was smooth and I got more than I probably would've from Virwox. I sent $5.50 and got $4.86 worth of BTC 

You said "KYC in my opinion was put in place by the governments only to hinder Bitcoin adoption"  KYC was in place first... that makes this statement untrue, I don't see how you can back this statement.  And your judgement on US as a whole is just that a judgement not fact. 

I will leave it at that as I don't enjoy forum battles.  As honestly no one wins and it's a waste of time.  But I think your first quote shows it was wrong with KYC being there first.  And I don't mean offense to you honestly.  I just wish you had facts not rash judgements.

Again I'm leaving it here I do not wish for a forum battle.  Not enough time in the day, good day to you sir.

I understand perfectly well what you are saying and at least you are confirming my hypothese about KYC hindering Bitcoin adoption. I mean, you have been trying to get verified for a while and still had no success. Well that's making it hard on average people to obtain Bitcoin.

Other part, you don't agree with me and that's OK, just like notlist3d, you guys have nothing against complying with the KYC and I repeat, this is your stance and I do respect it.

I didn't say that the KYC was passed just because of Bitcoin, but that it was applied to Bitcoin and that it hinders it's adoption. There is no arguing there in my opinion.

Is KYC here to protect the customers or the other side, I don't even want to start about that especially when we are talking about the US, a country where the most important are the interests of the wealthy, gray elite.

Personally, I was more bothered about the inconvenience than about the privacy aspect, but I think both are genuine gripes.

I just hate red tape, bureaucracy, paperwork, inefficiency. My main attraction to Bitcoin is to get away from the web of bullshit attached to Paypal, Credit Cards, etc..

If I wanted to use Bitcoin for nefarious purposes, I wouldn't have uploaded all my personal data to these sites.

And no offense to you but you seem uninformed. KYC was in effect before bitcoin was a thing.... a good amount before in US if I am thinking right.   

So right there that kills your opinion it was to kill bitcoin.  It is to track money and investments.   Governments will ALWAYS want to know this for taxes in most cases.  And yes in some cases tracking cash if being used for something illegal.

So I can see why you don't like KYC but it is not a bill that was aimed to kill BTC.

Look, you do have your opinion and I appreciate it. Everybody can do as they wish. KYC in my opinion was put in place by the governments only to hinder Bitcoin adoption. I mean look at this thread and the troubles that OP has to do his KYC and acquire his first bitcoins.

KYC that governments do will not do a damn thing against the money laundering. People with bad intentions will find ways to do what they want and they will bypass the KYC. It will not prevent the bad guys, it will only slowdown the good guys.

Again, I am not trying to offensive towards you, you have a right on your opinion.

I don't think it's against bitcoins cores.  If we want to operate in certain places it means things like KYC is a fact of life.   Just part of operating in today's world.

Yes there will always be options for those who do not want to do it.  For me I don't have any reason to hide what I do with BTC so KYC is not a big deal for me.  Others take that privacy and I understand why.  It's a personal choice.

Having a nice exchange hooked up to a checking account and being able to get for a decent is not something I will ever give up.  And for me KYC for better or worse is needed for this.

I would never, ever do a KYC verification or at least until I have other options. And even if these other options are to disappear, I would not do a KYC even then. This is completely against the Bitcoin basic principles and I just refuse to do it.

I would rather go to the currency exchange thread and buy the coins over there with the help of some reputable escrow.

CEX.IO is complicated for verify account, but they are trusted.

You need to know is after buy a bitcoin on exchanger, don't store your amount there, you should save on secure wallet, cold wallet is better.

the currency exchange section on the forum is also a place that you can buy bitcoin. however, there are restrictions on what is accepted there, especially for newbie members who are just getting into bitcoin. members will only deal with newbies if the payment method they offer is irreversible in every sense of the word (OKPay, western union after money is picked up).

should a newbie choose to accept those conditions and pay fees associated with the trade, they wont even have to go through a verification process as an exchange such as coinbase or circle might require you to. however, people over there arent too keen on dealing with newbies, so it might be hard to even find a seller. however, if going first with a trusted seller, there wouldnt be any escrow fees involved, and there are plenty of free escrow services should the user want to use escrow for the deal.

You only have to do the verification process once though for exchanges.  This is what makes them legal and not money launders.

So even though some hate verification it is really a needed thing.   And afterwards it really is nice to have a exchange and not LBC.

Sadly, even now, if you want to easily, quickly buy some btc, you need to pay a lofty middleman fee

or spend time going through verification processes to minimize that.

If you're fine with that, there are many choices though

i.e. ATM, Localbitcoin

coinbase and circle are too much like banks, there will always be complications there
  
i use okcoin.com

but buying bitcoins with fiat's is not a good idea though ,
it is better to provide a service to earn bitcoins.

You'll find a list of exchanges over here - https://bitcointalksearch.org/topic/which-bitcoin-exchange-do-you-use-and-why-576887

Chose the one that suits you the best.

I see that you guys have mentioned nearly all methods and exchanges above except localbitcoins.com.
Why not try with them? You might even find someone to sell you in person which is the easiest way. Try registering and giving it a try. I consider myself a Bitcoin veteran and all Bitcoin that I ever bought came through localbitcoins for me. I never sent any document in my life or scan to anybody.

I am using Kraken though when I need to sell fast.

I'll be a bit off-topic but hope you get my advice.

My way to deal with bitcoin is to earn them. I do not convert fiat to bitcoin, just the reverse and only when needed. Not sure if you have it clear but bitcoin is an asset that for some weird reason people want to use as currency.

A safer way to play with cryptocurrencies is altcoins, give DGC, DVC, XRM and the likes a try. Once you earned enough you can trade your altcoins for bitcoin and perhaps to fiat.

As you find out, kraken is a way to go. Using SEPA payments and withdraws are usually done within 24 hours.

i dont think it would have been that frustrating if only you woulda tried localbitcoins.com,
i usually try that one for selling or buying as no details required normally.

The bitcoin ATM in your place is the best way to go if that's the case. Due to different regulations and such, exchanges have required their users to submit more personal information and identification for verification purposes in case something happens. Good thing there are no such thing as bitcoin regulation here in our country.

No. Got verified on bitcoin.de and they still require SEPA TRANSFER for payments. My local online banking system doesn't support SEPA transactions, so apparently I need to order a Card Reader from them, which seems utterly absurd.

And it looks like Bittylicious require lots of personal information, just to buy Bitcoin at an exaggerated price via credit card.. no thanks

I'm gonna have to hit the ATM, reluctantly.

Circle, Kraken, Coinbase are okay but dont use Virwox.

you can also buy BTC at ebay - that should be easy for you.

So have you purchased your bitcoins now? Bitcoin atm's are the way to go if these services don't satisfy your needs. Also there is still LocalBitcoins that you can try.

Thanks all for the replies. I'm calming down!  
Just a little update.

I was able to find the reference for bitcoin.de when I dived a bit deeper into my online banking system, so (credit where it's due) I was able to get verified with bitcoin.de without jumping through too many hoops. It seems much easier to accept a payment with a reference number than to make a SEPA transfer, at least with my local banking service (AIB, who require me to purchase a card reader to make a SEPA transfer) so props to bitcoin.de for their verification process

coinpr0n Thanks for the recommendation of bittylicious. I'll be sure to check it out.
https://bittylicious.com/
Approx 3% cut for them for the convenience of using credit card, isn't too unreasonable.

Tiggy/newflesh
I'll be sure to check out that local ATM next time I'm in the city.

notlist3d
Circle  website was a mess, but they did respond to my support ticket quickly and succinctly.

But right now for me anyway, bitcoin.de is way out ahead

Yeah there is a Bitcoin ATM in Dublin City:


http://bitcoin-atm.ie/


Failing that I'd recommend using Localbitcoins.

I think there is an ATM in Dublin but it is the only one.  I would also suggest Bitylicious, they accept faster payments and I am pretty sure they operate in a few EU countries, it is a lot easier than what you seem to have just gone through especially for the value of €10, there is always a charge but you don't mind a little charge if it is a smooth process.

Yea forget about circle in your case.  Sadly exchanges because of laws are very based on country and even to state level in some cases.

Focusing on one that works better with your region will do a world of differences.  You will be buying easy and fast once it is set up with a good exchange there.

Did you try this: wesellcrypto.com
I bought some LTC from this site.
Payment process is very fast.
It also sells BTC.

Worth mentioning Bittylicious (https://bittylicious.com/) they've been around for a while and work primarily with UK customers from what I know. They might charge a little premium on the price for providing their service though.

CEX.IO
I'm done with them  

+1 for Kraken, SEPA transfers to them are usually processed within a day. CEX.io accepts direct credit card buying of bitcoin, but I personally cannot recommend them for I myself do not trust them and their markets are not quite as liquid.

it's super easy through bitcoin.de or even ccedk.com to buy bitcoin via SEPA. try ccedk if you can't use bitcoin.de

good luck

Thanks for the reply. I'm from Ireland. Most online entities bundle us in with UK.

I've been looking into Kraken and Cex.io today. Both are processing my application at the moment.
Cex.io wanted a scan of my passport, a photo of me holding my passport, and a scan of a recent bill!

What country are you from?  You will find your country greatly influences what exchange you should use.

Once you get one working it's as easy as switching sending money to bank account, then from there buy btc.  But you have to find proper exchange for you.

Having tried and failed to buy Bitcoin a couple of years ago, I decided to have another look recently, in the hopes that things had gotten more user friendly. I've tried to buy bitcoins on different services over the last couple of days and I'm about ready to give up.

I tried linking my VISA card to my new Circle account and it keeps giving me an error message about my address, even the main support page is giving an error message  

I tried signing up with Coinbase. I verified my phone ... I uploaded a scan of my Passport .. and still ... I get a page with some bank details and NO INSTRUCTIONS other than the words "SEPA TRANSFER". It's not clear how much I'm supposed to deposit, and how, and either way, I've never made a SEPA transfer in my life, and apparently my local online banking system doesn't support it.

I signed up with bitcoin.de and went through the usual steps. This time, they sent a small payment to my bank account, and I'm supposed to be verifying with an 8 digit code that begins with "a" and ends with "z" ... but such reference is nowhere to be seen on my Bank Statement.

Desperate, I managed to buy bitcoin via Paypal>Linden>BC through Virwox, turning 10 euro into less than 7 euro worth of Bitcoin.... F M L  

If Bitcoin is ever to be widely adopted it surely must become easier to get involved. I have Paypal & Credit Card sitting here, ready to BUY ... and have hit roadblock after roadblock everywhere I've tried.

Can anyone help me? Is there somewhere out there with a straightforward signup process?

************

EDIT - Update..
I was eventually able to locate the reference number in my banking system and have now been verified with bitcoin.de, but it still seems I can only purchase Bitcoin via SEPA on that site.

I tried more services.....
My worst experience was with CEX.IO, who's verification process was the most patronising, invasive, complex, and strict.

Circle.com website had missing pages with weird redirects, and came back with too many errors when entering my credit card information.

My experience with KRAKEN has so far been OK, though it seems they will only accept payment via SEPA or WIRE TRANSFER, and even when verified, I cannot top up my account via Paypal or Credit Card.

I was able to fairly quickly buy Bitcoin from Coin Mama with my credit card, though they charged 10 dollars for me to buy 40 dollars of coin :/
https://www.coinmama.com/