Is it common to see limits when buying BTC?

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: shamntalk on February 28, 2013, 04:49:05 PM

Is that a normal thing with BTC traders or is blockchain just specific about limits?

Each exchange methods has unique attributes.

In the UK, you probably want to look at Transferwise and/or CurrencyFair and then look at an exchange that takes Euro. That way you convert GBP to EUR using Transferwise or CurrencyFair, and then transfer the EUR to an exchange (e.g., BITSTAMP) and make your trades there.

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

You can trade bigger when you're verified (and bigger still when trusted) on Mt Gox.

nellybear

newbie

Activity: 33

Merit: 0

It's about risk reduction/damage limitation. They're all different.

shamntalk

member

Activity: 73

Merit: 10

BTC

So, finally made the jump and bought 100 quids worth, however I was a bit surprised to see that blockchain has the following limits:
"Established users are limited to £1000 per 7 days and a maximum single transaction size of £500. Users automatically become established 14.0 days after their first successful purchase."

So even when you're 'established' the max you can invest in BTC is GBP 4000/month. That's not exactly very much when talking about investment money.

Is that a normal thing with BTC traders or is blockchain just specific about limits?

Topic: Is it common to see limits when buying BTC? (Read 490 times)