Has anyone tried LibertyX's new buy BTC service (CVS & 7-Eleven)?

yimfinity

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Quote from: OROBTC on November 26, 2020, 07:31:25 PM

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Today I bought BTC via LibertyX. It looks like their low cost program is still in effect, I paid a tad under 2.0% (quick and dirty calculation) for $500 worth of BTC. A great deal, a "BTFD" opportunity we just had in BTC prices today.

So it looks like it is still a low cost way to get BTC at a good rate.

I do not know when or if the low rates will continue, perhaps yimfinity might fill us in.

Truly a Black Friday sale

Glad to hear it. No plans to discontinue the promotion for now. If and when we do, we'll try and give at least a few weeks notice before it ends to give people plenty of time to stack cheap sats.

OROBTC

legendary

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...

Today I bought BTC via LibertyX. It looks like their low cost program is still in effect, I paid a tad under 2.0% (quick and dirty calculation) for $500 worth of BTC. A great deal, a "BTFD" opportunity we just had in BTC prices today.

So it looks like it is still a low cost way to get BTC at a good rate.

I do not know when or if the low rates will continue, perhaps yimfinity might fill us in.

yimfinity

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Quote from: GreatArkansas on October 24, 2020, 04:41:20 AM

Upon checking 7 eleven stores, I still don't see LibertyX option to buy Bitcoin here in some 7-eleven stores in the Philippines.
Honestly, buying Bitcoins in 7 eleven is really much comfortable, especially I already tried it before here in the Philippines, but it's the Abra + 7 Eleven, they are using Abra for buying Bitcoin.
I can't wait to become available here in 7-Eleven Philippines store. And make tutorial again, just like what I did before: [STEP BY STEP] Tutorial How to buy Bitcoin at 7-Eleven Stores in the Philippines

Hi GreatArkansas-

Great tutorial! We are focused on the US market for now.

OROBTC

legendary

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Quote from: GreatArkansas on October 24, 2020, 04:41:20 AM

Upon checking 7 eleven stores, I still don't see LibertyX option to buy Bitcoin here in some 7-eleven stores in the Philippines.
Honestly, buying Bitcoins in 7 eleven is really much comfortable, especially I already tried it before here in the Philippines, but it's the Abra + 7 Eleven, they are using Abra for buying Bitcoin.
I can't wait to become available here in 7-Eleven Philippines store. And make tutorial again, just like what I did before: [STEP BY STEP] Tutorial How to buy Bitcoin at 7-Eleven Stores in the Philippines

Ask yimfinity! (See above) He seems to be affiliated with LibertyX and could probably find out which (if any) 7-Elevens would offer that service there in The Philippines.

The service appears (my uneducated observation only) to work somewhat like the "Green Dot" service (putting cash onto special cards/cellphones, essentially), Green Dot is a way for the unbanked here in America to carry something other than actual cash around.

GreatArkansas

legendary

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Upon checking 7 eleven stores, I still don't see LibertyX option to buy Bitcoin here in some 7-eleven stores in the Philippines.
Honestly, buying Bitcoins in 7 eleven is really much comfortable, especially I already tried it before here in the Philippines, but it's the Abra + 7 Eleven, they are using Abra for buying Bitcoin.
I can't wait to become available here in 7-Eleven Philippines store. And make tutorial again, just like what I did before: [STEP BY STEP] Tutorial How to buy Bitcoin at 7-Eleven Stores in the Philippines

yimfinity

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Quote from: The Sceptical Chymist on October 04, 2020, 06:06:09 PM

Huh, I apparently missed this thread entirely--but now that I found it, I located an ATM that's not too far of a bicycle ride for me. I'll have to check it out next time the weather is nice enough for a 16 mile ride into the fairly rural area in which it's located.

There aren't any CVS pharmacies near me that participate, and I don't even know where the closest 7-11 is to me, as they've shut down a lot of their stores in my state over the past few decades. As far as the fee goes, it doesn't sound as bad as the last bitcoin ATM I used, but we'll see.

I'll report back here if and when I try it out.

I think all CVS's should work. If you have a specific location, feel free to PM me and I'll confirm for you. BTW, it's not an ATM but a barcode that the cashier scans. Some more info here: https://libertyx.zendesk.com/hc/en-us/articles/360045272771-About-Chain-Retailers-e-g-CVS-and-Rite-Aid-

The Sceptical Chymist

legendary

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Huh, I apparently missed this thread entirely--but now that I found it, I located an ATM that's not too far of a bicycle ride for me. I'll have to check it out next time the weather is nice enough for a 16 mile ride into the fairly rural area in which it's located.

There aren't any CVS pharmacies near me that participate, and I don't even know where the closest 7-11 is to me, as they've shut down a lot of their stores in my state over the past few decades. As far as the fee goes, it doesn't sound as bad as the last bitcoin ATM I used, but we'll see.

I'll report back here if and when I try it out.

OROBTC

legendary

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Quote from: yimfinity on September 22, 2020, 01:17:37 AM

Hi ORO, Chris from LibertyX here. We've had great success with the 0% conversion fee promo. It's been helpful to see how customers adapt to the slightly different flow from our other products (e.g. using a debit card on a bitcoin-enabled traditional ATM). We plan to keep the promotion going for now so no need to rush to get cheap BTC

I just bought more Bitcoin from LibertyX, the total premium I paid was about 1.78%, which of course is very low (and included "fast" miner fee). BTC receipt and one confirmation arrived in less than 30 minutes.

So, yes, as yimfinity wrote, the promotion is still on. I believe I saw that the promotion is on through October 31, perhaps yimfinity will confirm.

* * *

I don't know how difficult the logistics would be, but LibertyX achieve a near market-share domination (assuming customers are OK with the KYC) by doing the below two things:

1) Keep that 0% conversion fee (recall that they apparently sell at BTC "Offer Price"), or at least charge a very low fee so as to attract more customers.

2) Find a way to allow customers to "cash out" at a low cost as well.

The above two things would be a nearly complete Bitcoin Ecosystem, very useful for Americans who would use BTC more (I would). Imagine for those who travel to other US cities, less risk of robberies or losing a wallet full of cash...

yimfinity

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Quote from: OROBTC on August 19, 2020, 02:15:41 PM

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igzolt

That would explain why I paid so little (less than 2%) when I bought in early August (after their earlier July 31 end date for the deal). Thanks for the update.

Hi ORO, Chris from LibertyX here. We've had great success with the 0% conversion fee promo. It's been helpful to see how customers adapt to the slightly different flow from our other products (e.g. using a debit card on a bitcoin-enabled traditional ATM). We plan to keep the promotion going for now so no need to rush to get cheap BTC

OROBTC

legendary

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igzolt

That would explain why I paid so little (less than 2%) when I bought in early August (after their earlier July 31 end date for the deal). Thanks for the update.

CardCoins

I'll try to take a look at your service as well. Looks interesting.

CardCoins

jr. member

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Have you seen our service before? https://cardcoins.co

You can buy Bitcoin from CVS, Walgreens, Best Buy and pretty much every other big box retailer in the country by loading a Visa/Mastercard/Amex prepaid card from their gift card rack. Take a look at all the locations: https://map.cardcoins.co, there are over 60,000.

Our order process is quite easy as well, you don't need an account at all--just a phone number to get started.

igzolt

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Quote from: gentlemand on July 02, 2020, 04:51:12 AM

Quote from: OROBTC on July 01, 2020, 10:07:29 PM

Just went back today to go for the max ($500). Fees cost me $8.12 total, some 1.63%.

That's pretty damn good. That's less than the cost of most crypto debit cards. Coinbase charge a flat 2.5%. Wirex cards have a spread they don't mention plus 1% so they're about 1.7%. And if you factor in trading and withdrawal fees that's competitive with some exchanges for low amounts too.

Quote from: OROBTC on July 01, 2020, 10:07:29 PM

If interested, act soon, as I am sure the rates will go up after July 31. I have no idea how much.

From a post linked above - "It's a temporary fee reprieve until July 31, available exclusively at CVS, Rite Aid, and 7-11. The regular fee for LibertyX is 8%. Part of that goes to the merchant (3%) and the rest to LibertyX."

So this is a very temporary good deal. After that it's... ungood.

did you talk to them? looks like they extended the 0% through end of august and also have some vague language that they could extend it more....more time to stack sats!

gentlemand

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Welt Am Draht

Quote from: OROBTC on July 01, 2020, 10:07:29 PM

Just went back today to go for the max ($500). Fees cost me $8.12 total, some 1.63%.

That's pretty damn good. That's less than the cost of most crypto debit cards. Coinbase charge a flat 2.5%. Wirex cards have a spread they don't mention plus 1% so they're about 1.7%. And if you factor in trading and withdrawal fees that's competitive with some exchanges for low amounts too.

Quote from: OROBTC on July 01, 2020, 10:07:29 PM

If interested, act soon, as I am sure the rates will go up after July 31. I have no idea how much.

From a post linked above - "It's a temporary fee reprieve until July 31, available exclusively at CVS, Rite Aid, and 7-11. The regular fee for LibertyX is 8%. Part of that goes to the merchant (3%) and the rest to LibertyX."

So this is a very temporary good deal. After that it's... ungood.

igzolt

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Thanks for the great play by play. I’m definitely going to try it out. Someone posted another CVS bitcoin buy on reddit today so I thought it might be you: https://www.reddit.com/r/Bitcoin/comments/hjcbt2/so_i_bought_some_bitcoin_at_cvs_yesterday

OROBTC

legendary

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Just went back today to go for the max ($500). Fees cost me $8.12 total, some 1.63%.

I think I have figured out why the $4.95 (CVS) is not the only charge: they (LibertyX) probably sell at an "ask" price (higher than "spot"), today's differential was some $45 from my preev.com BTC price and "their" selling price. Both yesterday and today cost me some $45 or so per Bitcoin, so that must be it. Still, 1.63% is a nice low fee.

If interested, act soon, as I am sure the rates will go up after July 31. I have no idea how much.

Things went very smoothly, all the cashier has to do is scan the barcode LibertyX sends to your cellphone app. Easy-peasy once you're set up. Cheap & easy, at least for now (and the KYC overhang anxiety)...).

suchmoon

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Quote from: OROBTC on June 30, 2020, 06:51:57 PM

Edited above to correct errors. "Their BTC price" $9203 might have been a tad higher than what I saw when I got home 30 mins later ($9158)...

That'd be another 0.5% but it could have easily changed by that much in 30 min. Obviously a $4.95 fixed fee is always going to be at least 1% even if you max it out at $500. If they tack on another 1% in fees and/or markups... not too horrible. Might be not enough for the service to survive though.

OROBTC

legendary

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Quote from: suchmoon on June 30, 2020, 06:49:44 PM

Quote from: OROBTC on June 30, 2020, 06:37:22 PM

$300 / $9203 = ~ 3.26%

3.26% (total fees) is better than I have gotten from any BTM (typically 7% - 14% depending).

Isn't your fee 4.95/300? That makes it ~1.7%.

You would also need to consider the exchange rate difference (if any) from other exchanges, i.e. if LibertyX has a markup built in there.

Edited above to correct errors. "Their BTC price" $9203 might have been a tad higher than what I saw when I got home 30 mins later ($9158)...

Until July 31 LibertyX is not charging any fees for THEIR service only.

suchmoon

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https://bpip.org

Quote from: OROBTC on June 30, 2020, 06:37:22 PM

$300 / $9203 = ~ 3.26%

3.26% (total fees) is better than I have gotten from any BTM (typically 7% - 14% depending).

Isn't your fee 4.95/300? That makes it ~1.7%.

You would also need to consider the exchange rate difference (if any) from other exchanges, i.e. if LibertyX has a markup built in there.

OROBTC

legendary

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It took some time, LibertyX asks for a lot of KYC info (at different times, a negative), but I was able today to get some BTC for cash at a CVS.

Spent $300.00 (total), received 0.03204 BTC, "their" BTC price was $9203. CVS fixed fee was $4.95, LibertyX fee was $0 (they have a special on until July 31, offering BTC with 0% fee).

$300 / $9203 = 0.0326, BTC received: 0.0320, (0.0326 / 0.0320) = ~ 1.0188 (or about a 1.9% total fee)

1.9%% (total fees) is better than I have gotten from any BTM (typically 7% - 14% depending). This will change after July 31 when LibertyX starts to charge THEIR fee. That 1.9%% would of course be a bit lower buying $500 worth of BTC at once, higher percentage if buying less.

$20 minimum purchase, $500 maximum. My weekly maximum would be $3000 (LOL, like I have that kind of money).

If interested in their service, you can save some fees by acting before July 31, but do note it took me a few days to jump through several hoops.

(Edited to correct errors)

igzolt

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saw someone post this on reddit: https://www.reddit.com/r/Bitcoin/comments/hdwrjn/bought_bitcoin_at_7eleven/

Topic: Has anyone tried LibertyX's new buy BTC service (CVS & 7-Eleven)? (Read 476 times)