Safe way to buy Bitcoins? - page 2. | Bitcointalksearch.org

Bru

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Quote from: RodeoX on April 24, 2014, 11:26:03 AM

I would recommend never using PayPal or considering an offer at a low rate. It is a drag, but you should either use localbitcoins or research exchanges in your country then fund your account with a USPS money order. Then, after executing a buy, withdraw your bitcoin right away. If you do not have total control of your private keys then you do not own any bitcoin. An exchange could close anytime and leave you Satoshi-less.

Why wouldn't you use paypal to buy ? I understand why wouldn't you sell, but I don't see the harm in buying.

Rawted

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I would use coinbase over localbitcoins any day of the week. Localbitcoins was decent when it first came out, but nowadays is just a pain in the ass.

RodeoX

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Quote from: Celroc Amaul on April 24, 2014, 12:07:10 PM

Thank you all for your replies. I guess I neglected to mention that I'm in the USA and intend to exchange USD for Bitcoins. I can definitely see some advantages to using localbitcoin, but am still interested in online transactions for convenience.

I might look into some local Bitcoin exchanges. Why might I consider a USPS money order over, say, a tradtional credit card if buying from an exchange? I assume that it is a type of security against chargebacks?

Thanks!

Celroc

That and calling a crooks bluff. If they defraud you with a USPS money order they are involving themselves in mail fraud. That is a serious thing in the U.S. and they are taking on huge additional risk. A money order is also like trackable cash. I can see when the exchange receives it, and can cancel before they do if there is a problem. In the end I have a record of what happened and who got the money.
Like you I prefer buying online. I wish I could recommend an exchange that is totally trustworthy, but I have not found one yet. They normally have crappy service and are slow at everything. A few are even scams.

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Quote from: Celroc Amaul on April 24, 2014, 12:07:10 PM

Thank you all for your replies. I guess I neglected to mention that I'm in the USA and intend to exchange USD for Bitcoins. I can definitely see some advantages to using localbitcoin, but am still interested in online transactions for convenience.

I might look into some local Bitcoin exchanges. Why might I consider a USPS money order over, say, a tradtional credit card if buying from an exchange? I assume that it is a type of security against chargebacks?

Thanks!

Celroc

Coinbase is a good US exchange, I've been pretty happy with them. You'll need a bank account to transfer dollars in and out though, with a credit card as backup to increase the limit for instant purchases.

The money order vs. credit card question is for safety against chargebacks on the side of the exchanges, as credit cards, paypal, etc. are easily reversible while bank transfers, money orders, and the like are far harder or even impossible to reverse. That's why it's so hard to buy bitcoins with paypal, and one of the reasons against using ebay.

Celroc Amaul

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Thank you all for your replies. I guess I neglected to mention that I'm in the USA and intend to exchange USD for Bitcoins. I can definitely see some advantages to using localbitcoin, but am still interested in online transactions for convenience.

I might look into some local Bitcoin exchanges. Why might I consider a USPS money order over, say, a tradtional credit card if buying from an exchange? I assume that it is a type of security against chargebacks?

Thanks!

Celroc

RodeoX

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The revolution will be monetized!

I would recommend never using PayPal or considering an offer at a low rate. It is a drag, but you should either use localbitcoins or research exchanges in your country then fund your account with a USPS money order. Then, after executing a buy, withdraw your bitcoin right away. If you do not have total control of your private keys then you do not own any bitcoin. An exchange could close anytime and leave you Satoshi-less.

bitkanu

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Quote from: TrailingComet on April 24, 2014, 10:49:08 AM

Go thru localbitcoins
Face to face is the best way but time consuming

yeah its very time consuming but you are totally risk free in this process . if you try another option its has risk for losing bitcoins from your wallet

BitCoinDream

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Quote from: Celroc Amaul on April 24, 2014, 10:47:13 AM

Hi all,

I was wondering, what would be a safe way for both parties involved to exchange traditional currencies with bitcoins? I'd prefer to do my trading online if possible. I've seen listings on eBay for them, but I feel that buying from there might inconvenience the sellers if PayPal decides to freeze their accounts.

Thanks!

Celroc

Depends... from which country u r ?

TrailingComet

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Go thru localbitcoins
Face to face is the best way but time consuming

Celroc Amaul

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Hi all,

I was wondering, what would be a safe way for both parties involved to exchange traditional currencies with bitcoins? I'd prefer to do my trading online if possible. I've seen listings on eBay for them, but I feel that buying from there might inconvenience the sellers if PayPal decides to freeze their accounts.

Thanks!

Celroc

Topic: Safe way to buy Bitcoins? - page 2. (Read 1388 times)