What's the danger of buying Bitcoins with ID from a bank? - page 2.

saturn643

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Quote from: anon3001 on January 09, 2016, 01:46:57 PM

If you can find out a trusted dealer nearby your area who accepts cash for the bitcoins,

Are you talking about meeting the seller and person and using cash? I do use localbitcoins and have foound someone with a good reputation locally. My question is this:

How would I prove to the admin that I paid the seller cash in person should the deal turn sour? With bank deposits, all you need is a receipt, but what kind of proof would you have if the exchange was made in person? Sorry, still a newbie to the bitcoin market. Thanks!!!

AFAIK there really isn't any way to prove that the exchange took place. Some people will simply take the money and run. One thing you can do to make it safer is to do the transaction in a public place with a lot of people. This protects against physical violence and if you just start shouting "thief" and chasing the guy if he runs then I'm sure there will be someone nearby that also chases him and tries to tackle him.

anon3001

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If you can find out a trusted dealer nearby your area who accepts cash for the bitcoins,

Are you talking about meeting the seller and person and using cash? I do use localbitcoins and have foound someone with a good reputation locally. My question is this:

How would I prove to the admin that I paid the seller cash in person should the deal turn sour? With bank deposits, all you need is a receipt, but what kind of proof would you have if the exchange was made in person? Sorry, still a newbie to the bitcoin market. Thanks!!!

redsn0w

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#Free market

Quote from: KenR on January 09, 2016, 09:42:20 AM

There are other ways to get your bitcoins which is PayPal.I don't recommend using the ID's as it destroys the anonymity of the buyer which could be used for destructive purposes .If you can find out a trusted dealer nearby your area who accepts cash for the bitcoins,you can always contact him.Localbitcoins is a good alternative for finding such dealers.

Paypal is not a secure method of payment to buy bitcoin Wink

(because it is reversible). Here the better way (as the other have suggested) is localbitcoins, with cash.

KenR

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「きみはこれ&#

There are other ways to get your bitcoins which is PayPal.I don't recommend using the ID's as it destroys the anonymity of the buyer which could be used for destructive purposes .If you can find out a trusted dealer nearby your area who accepts cash for the bitcoins,you can always contact him.Localbitcoins is a good alternative for finding such dealers.

Amph

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if the exchange is hacked in some way, the hacker can steal your credentials, and use it for criminal activity, this is why i try to avoid to send my data

DebitMe

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Get Paid Crypto To Walk or Drive

Quote from: anon3001 on January 08, 2016, 11:43:15 PM

As long as your not doing anything illegal it really shouldn't matter if you give them your ID or not.

of course, but becuase of the stigma around bitcoins I would prefer to avoid unwanted attention from the "authority." I guess that would be my concern.

Ok, then don't use a bank transfer. Localbitcoins is a great way to get bitcoins, you will be paying a higher premium though, so that's the other side to consider. You could also try buying giftcards (such as WalMart) and selling them on the forums, although it could be tough with a newbie account as trust is a pretty big factor.

EDIT: BTW, the only time the authorities would get your information is if there was a need for it. Just because the bank takes your ID, doesn't mean they send it to any government agency. They simply do it incase the government comes asking (which in my opinion, if your just transferring money to an exchange or something, there is a very very almost zero small chance it would be an issue.)

anon3001

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As long as your not doing anything illegal it really shouldn't matter if you give them your ID or not.

of course, but becuase of the stigma around bitcoins I would prefer to avoid unwanted attention from the "authority." I guess that would be my concern.

DebitMe

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Get Paid Crypto To Walk or Drive

Quote from: anon3001 on January 08, 2016, 11:25:55 PM

Hello,

I live in a small town where Bank of America, Credit Unions and other lesser known banks are. BoA was pretty much my go to place since they were the only ones who didn't require ID but they do now (as of November). I just want to know what the dangers are of presenting my ID to the teller and what they do with the information.

Are there any other safe alternatives? I don't know how safe it is to meet the seller in person with cash for a bitcoin transaction

They need to keep a record of transactions and information about the person for KYC purposes. It basically is to make sure that the money isn't being used illegally and that the proper taxes are assessed. As long as your not doing anything illegal it really shouldn't matter if you give them your ID or not.

Localbitcoins is a great way to buy bitcoins with cash. I probably meet someone every other day and have never had a problem. You just have to find a trustworthy person and meet in a public space. I always meet at McDonalds and just sit in clear view of the counter. Always goes flawlessly.

anon3001

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Hello,

I live in a small town where Bank of America, Credit Unions and other lesser known banks are. BoA was pretty much my go to place since they were the only ones who didn't require ID but they do now (as of November). I just want to know what the dangers are of presenting my ID to the teller and what they do with the information.

Are there any other safe alternatives? I don't know how safe it is to meet the seller in person with cash for a bitcoin transaction

Topic: What's the danger of buying Bitcoins with ID from a bank? - page 2. (Read 2559 times)