Topic: The terrible odyssey of trying to buy a small amount of bitcoins (Read 684 times)

A simple but expensive way to buy small amounts of a Bitcoin for paypal is given in the tutorial linked below.

https://www.deepdotweb.com/buy-bitcoins-with-paypal-credit-cards/

The only big drawbacks are you pay high fees, and your first Bitcoin withdrawal is delayed by 48 hours. However Bitcoin withdrawals are instant after your first one.

Basically the tutotial guides you through registering on the website below, depositing money through paypal, buying linden dollars with it, then buying Bitcoins with the linden dollars and withdrawing them. A bonus is you don't have to provide ID to register on the website.

https://www.virwox.com/

To be frank, it's not at all strange to me. Since I started checking out the world of BC I haven't seen anything but errors.

Just to give an example. I just created an acount at bitstamp (you see, I try out everything you propose) and when I try to proceed with verification I get an error for my (100% correct) date of issue of my passport. I've contacted their support, of course. 50% of my time, up to now, is contacting this and that support and explaining about some problem.

As with coinify, yes, I have contacted their support. I suppose they owe me some explanation.

It is really weird to see this kind of error from coinify, you should have contacted their customer support to clarify things up and it might be a software glitch to show 2000 EUR instead of 20 .Did you contact their customer care to settle this up and if so what did they tell you regarding this mess up.

Check bittylicious. I think you can buy with a card in the EU. There's a premium but not any more horrific than most p2p places. Buyable amounts start at about 15 Euros or so. Bitstamp has opened up for card purchases too but you might need to send them a stool sample to get an account.

Multibit has been sold by the original developers and has had some weird problems recently so I'd shop elsewhere.

I faced the same kind problem like a month ago. I am abroad now and I totally forgot my card's password. So I was trying to buy bitcoins and to transfer it to my boyfriend to he cash it out on his local card here. But I didn't succeed.

and the odyssey continues. I gave an order for a transfer of 20 EUR via ebanking, to my bank, in order to buy the BC equivalent in Blockchain.info.

And then I get an email from Coinify to pay 2000 EUR!!!

Here's the evidence.

What do you make of it?

thanks for all the kind and useful replies!

as for the amount, i was talking about 15 EUR


but indeed, my tongue slipped towards the end, sorry.

While the thread's title says "trying to buy a small amount of bitcoins", PurpleDog's first post says he's trying to buy "15 bloody bitcoins". Fifteen Bitcoins is not a small amount. Today they would cost a total of €15736,

To buy small amounts you can use the site linked below to search for the nearest Bitcoin ATM to you. There is usually a hefty fee for buying from a Bitcoin ATM, but it's fast and simple.

https://coinatmradar.com/

For 15 Bitcoins I would recommend buying from big exchanges like Bitstamp or the Kraken. However those exchanges want proof of identity like passport, and bank statement scans.

https://www.kraken.com/

https://www.bitstamp.net/

@PurpleDog: I think you are confusing some things. There is no need to use "the official exchange" of a wallet service like Blockchain.info (and Multibit). Wallets and exchanges are separate things. So you can use any exchange with any wallet - for example, Blockchain.info with Bitstamp or Kraken. You can even use the exchange as a wallet - but I don't recommend that as then you don't have Bitcoins but only IOUs and many exchanges already have got bankrupt.

For Euro/BTC exchange I recommend you to use an exchange service like Bitstamp.com or Kraken.com. Bitstamp doesn't charge any fee for EUR deposits and the fee to convert the EUR into BTC is 0,25%. Kraken has similar prices, as far as I know. Sellers who accept credit cards and similar payments and also the "official Blockchain.info service" are often much more expensive.

Localbitcoin is also a good solution, for buying it's pretty safe. As c789 writes they have an escrow service. (for selling it's a bit more complicated as there are possibilities for the buyers to scam you, e.g. with stolen bank accounts).

(Edit: Ah, I see that you have already installed a desktop wallet. Then you don't need a web wallet, only an exchange like Bitstamp, you can transfer the BTC directly from there to your desktop wallet, with no cost.)

Localbitcoins (LB) acts as the intermediary. The seller loads his BTC to his account on localbitcoins. Then, after you pay the seller, LB releases the BTC to you. It's pretty low-risk. I've done it many times and never had a problem.

btw at localcoins the best trade is at : 1072.59 EUR

when at Blockchain.info the rate now is at : 1,047.52 EUR

But I'd expect some solution now and not having to wait for something to come out (and eventually not work for me, either).

Anyway, I'm checking localbitcoins.com now. Do I understand it correctly that you buy from 3rd parties there where you don't know whether they are going to give you the BC you are paying for?

Is there really no web wallet where you can just buy some bitcoins and transfer them to ur desktop wallet? Really?

If what the guy told you about using mycelium is just too hard for you to do with security issues being a major concern to you. Then just wait until ledger blu comes out.

It comes in tablet form and lets you do everything from there.

That's it. Quite simple to understand if you don't want to mess around with all these different devices and problems. Well that is what I am seeing from your original post you are getting frustrated with about getting a simple small amount secured.

Most of them will negotiate. If they're advertising 12% above market, chances are they'll take 10%. At least it worked that way for me.

I've been trying to buy Bitcoin for over a year. I don't want to use on-line services, and local bitcoins has massive spreads by all the sellers in my area.

My current plan is to offer some domain names for sale, and to try to persuade buyers to pay with Bitcoin.

That's a good point, and fortunately I have a good answer for you. When you set up mycellium (and electrum for that matter), you'll be shown a series of words called a word seed. Be absolutely sure to write this down and double-check that you copied it accurately. Store it somewhere safe. Then, if your phone is lost or stolen, you can use your seed words to restore your account (and coins) on another device.

Gee the ask LOTS of stuff. Why do they need my tax number? :/

And I understand this is not actually a wallet, is it?


First of all, like I said, electrum won't run on my pc. You can check the link I provided in my first post.

Secondly, from the lot of steps you provided I wouldn't know how to go to localbitcoins and find a seller. Of course I will search and find out. That's what I've doing up to now. Searching, trying things out and up to now not much has worked for me.

It is one of the hardest and most obscured processes I have seen, to someone who want to get started.


I would like to avoid my smartphone, since it is something that can easily get lost or stolen, but eventually, and since not much else works for my, I suppose I'll have to get this one in the play, too.

Use localbitcoins and put a mycellium wallet on your phone (you can scan QR codes that way...makes it easy). Use mycellium on your phone for your initial acquisition of BTC...very easy. From mycellium, you can transfer to your electrum laptop/desktop.

Yeah you can blame the banking system, not bitcoin.

If you want a small amount, get electrum, then go to localbitcoins, find a seller, make the deal, and recieve your bitcoin in your electrum wallet. How is this so difficult anyway?

If you want bigger amounts, then you will need bitcoin core for maximun security, and store them there. Maybe localbitcoins is not the best for big amounts and you should look for an exchange.

Are you trying to buy 15 bitcoins or 15 euros worth?

Local bitcoins is an easy way to obtain, you can buy cash in person or just do a bank transfer and then once bought transfer them out and into your wallet. If you want a lightweight wallet for your phone then i reccomend mycelium (android).

If your only looking for 15 euros worth then there are quite a lot of options to just buy with paypal. Unfortunately its not bitcoin that is difficult , its the current banking systems.