Topic: Immediate cash in and out of Bitcoin with Western Union. Demand? (Read 2275 times)
they do watch for money laundry lol
You should have serious talks with Western Union before doing this. Running cash in and out of them repeatedly is going to get suspicious very quickly.
If it can be done truly anonymously 4 cash and the fees were not too crazy high I would likely use it for buying BTC.
Selling BTC.... I wouldn't be doing that anyway... not this decade.
I tried to use BitInstant + MoneyGram a while back but MoneyGram wanted more identifying information than I was willing to provide, so I said no thank-you. They did me a favor actually as it was near the peak.
I think that face 2 face local bitcoin exchanges are really the best way to go for fiat exchange anyway. No need for 3rd party escrow.
That, and online exchanges between alt currencies that people are mining.
Selling BTC.... I wouldn't be doing that anyway... not this decade.
I tried to use BitInstant + MoneyGram a while back but MoneyGram wanted more identifying information than I was willing to provide, so I said no thank-you. They did me a favor actually as it was near the peak.
I think that face 2 face local bitcoin exchanges are really the best way to go for fiat exchange anyway. No need for 3rd party escrow.
That, and online exchanges between alt currencies that people are mining.
Western Union has pretty high fees. Also, in my experience they require ID before they give you cash.
Feel free to jump in here anytime......just asking for opinions.
Would this be something that people here would find valuable?
If you wanted to buy Bitcoin, you could simply send payment via Western Union at agreed rate. Bitcoin is transfered directly to client's account.
If you wanted to sell Bitcoin, I simply send you Western Union. Test question and answer and MTCN for anonymity if need be.
Bitcoin held in escrow at www.localbitcoins.com in all cases.
This allows people wanting complete anonymity to deal entirely in cash without having to show ID or a bank account.
It would work for anybody assuming they had a Western Union close to them.
Basically it would allow people to go straight from cash to Bitcoin, or straight from Bitcoin to cash anonymously and within a day.
Thoughts?
If you wanted to buy Bitcoin, you could simply send payment via Western Union at agreed rate. Bitcoin is transfered directly to client's account.
If you wanted to sell Bitcoin, I simply send you Western Union. Test question and answer and MTCN for anonymity if need be.
Bitcoin held in escrow at www.localbitcoins.com in all cases.
This allows people wanting complete anonymity to deal entirely in cash without having to show ID or a bank account.
It would work for anybody assuming they had a Western Union close to them.
Basically it would allow people to go straight from cash to Bitcoin, or straight from Bitcoin to cash anonymously and within a day.
Thoughts?
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