Is buying bitcoin really this complicated?

BTC-tester

newbie

Activity: 6

Merit: 0

Yes, you can use dwolla to deposit funds on exchanges i.e. Mt gox, Intersango and probably others. But you need to create this DWOLLA account anyway

it looks like the simplest way is online wire ----> exchange ----> BTC without any additional accounts, this is possible in Europe

for USD it isn't as simple, one extra step, and account is required (and sometimes these requirements are really weird, proving your identity to 3rd parties - and there is a chance that your personal data will leak from 3rd parties some day, during hackers attack) :-(

via SecondLife -- VirWox ---> ...
via LibertyReserve ---> ...
via DWOLLA ---> ...
via Bitinstant ---> CryptoXChange ...

chose the weapon

I hope I didn't miss anything - if something is wrong, correct me

what about others? CAD AUD ... South America ... ? and maybe something more for USD ... ?

wogaut

donator

Activity: 448

Merit: 250

Quote from: Fiyasko on April 19, 2012, 01:47:55 PM

I dont mean to be a jerk or anything, But i HAVE NOT read this thread aside from the first three posts.

All i have to say is that the "quick and fast" way is to use the Bitcoin OTC.
I turn my bitcoins into Cash in my bank in 40minutes. Eveeerrrryyyy time

Well, if you are new to bitcoin-otc and look for a guide howto use it, you get linked to the Wiki site, and that's longer than the terms&conditions you sign on most web pages (I wonder how many people actually read those), so it's absolutely not user friendly (but maybe that's part of their strategy).

Fiyasko

legendary

Activity: 1428

Merit: 1001

Okey Dokey Lokey

I dont mean to be a jerk or anything, But i HAVE NOT read this thread aside from the first three posts.

All i have to say is that the "quick and fast" way is to use the Bitcoin OTC.
I turn my bitcoins into Cash in my bank in 40minutes. Eveeerrrryyyy time

notme

legendary

Activity: 1904

Merit: 1002

Quote from: rubicon on April 19, 2012, 10:16:14 AM

I don't see Dwolla posted here. Is it any good?

Sure, but you'll have to jump through hoops to prove your identity to be able to deal with any bitcoin businesses. At the very least, they'll need your SSN and you'll have to wait 30 days after you first transfer money to Dwolla:
https://bitcointalksearch.org/topic/m.858870

rubicon

newbie

Activity: 2

Merit: 0

I don't see Dwolla posted here. Is it any good?

Nyaaan

full member

Activity: 140

Merit: 100

Bank account -> trusted wire/Liberty Reserve exchange site -> Liberty Reserve -> Mt. Gox -> Bitcoin

Problem solved

Dan The Man

hero member

Activity: 672

Merit: 500

Quote from: BTC-tester on April 18, 2012, 05:50:07 AM

cavirtex site looks like written 100 years ago, but it's not spooky :-) deposit funds looks also fair enough - screenshot:

it seems it also can be done online without a "trip to a bank" (but let someone confirm / or deny that)

CAD ----> online transfer ----> Cavirtex ----> BTC

Cavirtex site sucks because it locks in your dollars when you make an offer and you have to guess what the transaction fees will be. Get it wrong by any decimal amount and your account can't cover it, the offer gets cancelled and you have to guess again. This means you are always left with some pennies in your account. Their minimum processing time is actually their maximum processing time plus three days. I've never had a deposit take less than one week (5 business days). But relative to other options it's the easiest.

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: BTC-tester on April 18, 2012, 11:38:37 AM

it seems so... you cannot just buy BTC for USD/PayPal that way ... because you need to create an extra account: Second Life :-/

So registering with "none" doesn't solve a problem :-( cuz still cannot buy it

typical problem, you need to create and extra account somewhere (okpay, dwolla, aurumxxchange, cryptoxchange, bitinstant, +trip to the bank to make cash despite) only to be able to buy BTC - it is better not to buy them at all LOL - that's what I call recommendation Cheesy

No... You deposit USD (either with credit/debit card or Paypal, which can link right to your bank and do it instantly once verified), buy SLL on Virwox, then convert to BTC.

MrTeal

legendary

Activity: 1274

Merit: 1004

I suppose I should repost here since this thread got raised from the dead. I was able to purchase coins with no issues, just went down to the bank and did a deposit to Virtex's account, then bought the coins there. Easy as pie.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: BTC-tester on April 18, 2012, 11:38:37 AM

it is better not to buy them at all LOL - that's what I call recommendation Cheesy

Ok don't. Problem solved.

BTC-tester

newbie

Activity: 6

Merit: 0

it seems so... you cannot just buy BTC for USD/PayPal that way ... because you need to create an extra account: Second Life :-/

So registering with "none" doesn't solve a problem :-( cuz still cannot buy it

typical problem, you need to create and extra account somewhere (okpay, dwolla, aurumxxchange, cryptoxchange, bitinstant, +trip to the bank to make cash despite) only to be able to buy BTC - it is better not to buy them at all LOL - that's what I call recommendation Cheesy

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: BTC-tester on April 18, 2012, 05:50:07 AM

first problem :-( line 3 - what's this? OMG and its required! I cannot skip this step :-( screenshot below ;-/

Enter "none" -- problem solved. It appears to only be relevant if you intend to deposit/withdraw from within Second Life.

h/t to whoever mentioned that a day or so ago.

BTC-tester

newbie

Activity: 6

Merit: 0

I think I'll create new supplemented post soon. Current subject "IS BUYING BITCOIN REALLY THIS COMPLICATED?" This can be answered, yes! like a hell!!! but not everywhere - depends where are you from :-)

when I gather more (confirmed) data I'll create new topic and it will be something like: WHAT TYPICAL MORTAL HAS TO DO TO BUY BITCOIN and how much will it cost? LOL for currencies like: USD, JPY, EUR, CAD, AUD..... (??-any other requests-??) and also included info about these PayPal clones you need to sign-up to be able to use online bitcoin exchange. So feel free to write any ideas and suggestions.

VirWoX - quite spooky, but let's try :-)

first problem :-( line 3 - what's this? OMG and its required! I cannot skip this step :-( screenshot below ;-/

http://img809.imageshack.us/img809/7912/registr.png

anyway PPay and plastic are most desirable method by all (maybe except sellers) :-P

-------------

cavirtex site looks like written 100 years ago, but it's not spooky :-) deposit funds looks also fair enough - screenshot:

http://img16.imageshack.us/img16/5605/cad1.png

it seems it also can be done online without a "trip to a bank" (but let someone confirm / or deny that)

CAD ----> online transfer ----> Cavirtex ----> BTC

bitvirtiser

newbie

Activity: 6

Merit: 0

the way u described is time taking in my sense
u an always go for other exchanges like direct cash deposit with Bitinstant or Mtgox

Namworld

hero member

Activity: 745

Merit: 501

Since you're in Canada, I'd have to agree about Cavirtex for direct payment.

Alternatively, if you have Paypal funds: VirWoX
It's the only place I think big enough to accept Paypal and sell bitcoins. Probably because of their size and established trustworthiness, Paypal don't accept "I haven't received my virtual currency!" for disputes. One of my favorite place for a few quick bitcoins. Wink

BTC-tester

newbie

Activity: 6

Merit: 0

This is my first post so HELLO EVERYBODY!

I got few questions...

you are recommending:

USD ----> CASH DEPOSIT ----> BitInstant ----> CryptoXchange ----> BTC

any ways to do it online? to make this cash deposit I need to visit bank, right?
is there any other (cheaper) way? what if I'd like to buy lets say 10 BTC - just to try? it would be 10BTC=~50$ and what about fee/commissions and such fools Tongue

I'd like to make comparison about buying bitcoins - IMO bitcoin wiki is useless for that, one big mess and according to wiki we can buy using PayPall and/or plastic cards! And that's why I'd like to gather some info about possible ways of buying bitcoins.

for instance in Europe it looks like this:

EUR ----> S€PA TRANSFER ----> Intersango ----> BTC

or:
OTHER ----> wire transfer ----> Intersango or other -----> BTC
currency . . . . to local bank . . . . local exchange/market

I know that local bank transfers are free: fee = zero
I'm not sure about SEPA if fee = single euro? (1€) :-P
anyway both can be done online, without a trip to a bank ;-)

the joint

legendary

Activity: 1834

Merit: 1020

You could do a cash deposit at a bank through BitInstant into an exchange like Mt. Gox, CryptoXchange, Intersango, or Bitcoinica.

Edit: I think...maybe it only applies to US banks.

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: bittenbob on February 21, 2012, 11:28:34 PM

https://www.cavirtex.com/

Apparently you can do an online bill payment or send it directly as a cash payment from RBC. Problem solved.

As a US citizen, reading through that site earlier today made me jealous. Those are some very generous rates (unless I'm missing hidden fees somewhere, it's cheaper than Gox, bank->exchange fees nonexistent through most accepted deposit methods).

bittenbob

hero member

Activity: 560

Merit: 500

https://www.cavirtex.com/

Apparently you can do an online bill payment or send it directly as a cash payment from RBC. Problem solved.

bittenbob

hero member

Activity: 560

Merit: 500

Nope, you are not mistaken. I didn't see the Canada part.

Topic: Is buying bitcoin really this complicated? (Read 2298 times)