Topic: Circle Announces Global Launch of Bitcoin Banking Platform - page 3. (Read 7649 times)

Darn, there goes all the fun stuff....

...narcotics, gambling, sports betting, casino games, horse racing, dog racing, lotteries.....

 

just to be clear: if you have a trojan / virus on your pc then circle wont give you an insurance.

the insurance will be there when Circle makes a mistake.

I have posted this elsewhere. Please forgive the duplication. The topic seems important enough to justify it, imho.

As far as I can see, Circle will work out fine unless or until you want to spend your BTC. Do not let the boiler plate text make your eyes glaze over. Read the fine print!

From their service agreement - their INTERNATIONAL service agreement, of all things:

--  snip  --

17. Restricted Activities

Using the Services to make the following types of payments is prohibited, and Circle reserves the right to monitor for payments that relate to:

    any Restricted Persons or persons or entities located in Restricted Territories (as each term is defined in Section 29);
    weapons of any kind, including but not limited to firearms, ammunition, knives, or related accessories;
    controlled substances including but not limited to narcotics, prescription drugs, steroids, or related paraphernalia or accessories;
    gambling activities including but not limited to sports betting, casino games, horse racing, dog racing, lotteries, games of chance, sweepstakes, games of skill that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing;
    constitute money-laundering or terrorist financing;
    any sort of ponzi scheme, pyramid scheme, or multi-level marketing program;
    goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction otherwise constitute counterfeit goods;
    debt settlement, refinance, or credit repair services;
    court ordered payments, structured settlements, tax payments, or tax settlements;
    the sale of money orders or cashier’s checks or any unlicensed money transmitter activity;
    lottery contracts, layaway systems, or annuities;
    counterfeit goods; or
    any other matters which we communicate to you that are unacceptable from time to time and which, for example, may be restricted by our and your payment partners.

In the event that Circle learns that you are making any such prohibited payments, Circle may suspend or terminate your Circle Account.


--  end snip --

I don't see why they would charge anything else. If they charge more then the TX fee they are actually including in their TX to your BTC address then they are scamming and if they charge less then they are eating a loss they have no reason to "eat"

Also just made a purchase with my debit Master Card (non US) without any problems.

Don't think I will use Circle as a long term wallet even though your coins/funds are insured. Will sleep better with the bulk of my coins in my offline Electrum wallet. I will however make use of Circle in future for my purchases as I find the process far easier than some of the other exchanges and might use it as my everyday (hot)wallet depending on the mobile apps they are to release.

It is not entirely true that only US customers are supported.

I can confirm I was able to use my debit MasterCard (issued by a bank in Belize, Thai billing address) to load my account. It went through instantly.

Circle is the new Paypal!

O yeah, and... bye Coinbase.

How long does it take for a FIAT withdrawal against a deposit ?

Yes. Transaction Fee was 0.0001 BTC.

That looks awsome, I signed up for there invite system a little over a month ago and haven't heard anything back from them, going to check this.

Has anybody made any payments from their Circle wallets yet?

I see there is no option to select the transaction fee so was just wondering whether they go with the 'standard' fee of 0.0001 or whether they charge something else.

That's is a really great news and I am sure that there are more good news in pipeline because bitcoin has a very bright future ahead.

from what I have seen quick easy can use CC.

Can someone explain what's different about Circle in comparison to other websites where you can buy BTC?

I believe this 2.9% "fee" is actually charged by your credit card company when you take out a cash advance. This is generally standard practice when you take a cash advance from a credit card (as this is what using a credit card with circle is considered).

I think that if you are using your credit card to buy bitcoin via circle then you are either overextended or should wait the ~week that it takes to get your bank account verified with them

Has anyone purchasing with US credit cards been hit with a cash advance fee?

Circle is for US based customers. In the US there are fair lending laws that make it so it will always be possible dispute/chargeback a transaction. If they are only charging 2.9% (as mentioned above) for credit card payments then they will not be able to cover their losses from chargebacks.

The only recourse they have against chargebacks would be to pursue a civil lawsuit against people who they think filed a bogus chargeback claim, however this is very expensive and would likely be a PR nightmare, plus the fact that it would be very difficult to prove a bogus chargeback was filed for a transaction that occurred over the internet.

http://koinify.com/blog/cryptocrowdfunding-now-instantly-possible-thanks-to-circle/

what countries does credit card work with Circle right now ?

only US y Canada ?

Do you get interest on your BTC?

Would be interested in feedback of ongoing experience using this service.