Why is buying/selling Bitcoin so difficult? - page 2.

ranochigo

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Quote from: Yerm on October 31, 2015, 08:57:08 AM

im also pretty disappointed at the exchanges, they make buying and selling such a tedious process. all the verification that needs to be done just scares away new potential bitcoin users.

Exchanges don't want it either, they obviously want trade volume and profits. However, they have to comply the KYC/AML measures that are set from the government. If they don't, the company would be charged with the operation of unlicensed money transmitting.

In some places where it isn't necessary for them to do so at low volumes, they set a limit for the customers to trade without submitting documents. E.g. Kraken.

Yerm

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im also pretty disappointed at the exchanges, they make buying and selling such a tedious process. all the verification that needs to be done just scares away new potential bitcoin users.

thejaytiesto

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Quote from: ranochigo on October 31, 2015, 07:24:49 AM

The difficulty differs with different countries. Most countries does allow Bitcoin and have clear regulatory measures for it. However, for those who don't, the acceptance rate could be very low and there is no need for people to open an exchange there. In my country, it is easy with several exchanges open for me to use.

In the entire USA and Europe the regulations are mostly the same. I have no idea how does it work outside those 2 continents tho. It seems that the best way to get BTC is still good ol local Bitcoin. Just be sure that the dude you are dealing with has good reputation.

dollarneed

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like what all told, why not to try localbitcoins or just find a bitcoiner from your country to purchased some bitcoin from him, you can find them here, in my country it so extremely easy to buying bitcoin used our banks, even some payment processor like pp or netllr

Furio

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Quote from: NorrisK on October 31, 2015, 07:19:05 AM

I think you are just unlucky with the country you are in at the moment.

Here in The Netherlands it is extremely easy to buy and sell bitcoins. We have a service (bitonic), which allows you to buy and sell directly through your bank account using a local payment system (iDeal). No extra information is required, extremely nice to use. Fees depend on the amount you want, for bigger amounts it is less.

The same applies to paying bills with bitcoin in the Netherlands, any sepa banktranfer can be done using services like bitbill or bitwa.la.

ranochigo

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The difficulty differs with different countries. Most countries does allow Bitcoin and have clear regulatory measures for it. However, for those who don't, the acceptance rate could be very low and there is no need for people to open an exchange there. In my country, it is easy with several exchanges open for me to use.

NorrisK

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I think you are just unlucky with the country you are in at the moment.

Here in The Netherlands it is extremely easy to buy and sell bitcoins. We have a service (bitonic), which allows you to buy and sell directly through your bank account using a local payment system (iDeal). No extra information is required, extremely nice to use. Fees depend on the amount you want, for bigger amounts it is less.

Q7

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I think it's pretty standard that you have to go through all the verification process and sending in the information but you can always opt for another method by having a one-to-one meetup and doing a live instant transfer. Not sure if you have it there, but where I live we have something like a local bitcoin club where you can actually meetup with people sharing the same interest. I met few of fellow enthusiast through that channel myself and they are more than happy to help out newbies looking to buy small amount of coins.

Kprawn

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I share your pain... They say Bitcoins is Pseudo-anonymous until you use these 3rd parties. The thing is they need this information to adhere to all their local laws {KYC/AML}

and to help The Financial Crimes Enforcement Network (FinCEN) to combat domestic and international money laundering, terrorist financing, and other financial crimes.

The problem is, none of these 3rd parties can be trusted 100% and your information is stored on a central location for any good hacker to access. Once they get hold of your

digital information, they could link you to other fraudulent activities, without you even knowing it. Angry

Mickeyb

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Move On !!!!!!

OP, I completely understand how you feel. My best friend lives in the US and about six months ago, he has gave up on buying bitcoins since he didn't want to send every piece of personal info that they required him to send. At the end, he wired me the money and I bought them in Europe for him. Now we are talking about US here, you can only imagine how much harder is for countries like Colombia.

Buying coins and securing coins are two biggest hurdles that people get stumbled upon at the moment in Bitcoin. And this needs to be improved largely if we want mass adoption, we all know this. But slowly we are getting there. Coinbase for example, even though I don't like them much, gives me a right to buy 500 euros worth of bitcoins with my credit card daily at the moment by sending only a copy of my passport. I am based in France and this was unthinkable to do just a month ago.

makcik

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Bitcoin have grown now as a famous cashless currency. But, still people hesitate in buying and selling For the following problems.
(1) Bitcointalkers and traders are not available in every country or every region, so buying isn't possible easily for people.
(2) People still think that earning btc using online methods is better as they don't want to do investment.
(3) Rate not being uniform, btc rate keeps changing always, so people think that buying may give them a loss, but this can get reversed too and they may get more money For same btc, but still people have different choices.

lumeire

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That was my also my problem earlier in the scene, I'm happy my local exchange here doesn't ask too much info like in there - only Facebook and Phone verifications - I have trade limits though.

There are other exchanges aside from Virwox, try South American exchanges like SurBTC or BitEx.la

If you still can't, try meetups, maybe there's enough local traders there or even here in the forums.

Watoshi

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You shouldn't use that shitty exchange. Try localbitcoins or here in the forum in the currency exchange section.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

You shouldn't give up on bitcoin just because your first attempts at using it were no easy. Try using an exchange that doesn't have such strict rules for depositing/trading.
For example btc-e, or just simply buy btc from our users here at https://bitcointalk.org/index.php?board=53.0 which is currency exchange.
I for one never had a problem in both selling and buying btc, even with using my own bank account, no ID verification or anything.

Laosai

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Well it differs and varies on countries , too bad it's kinda hard to buy and sell bitcoins on your country.

While on my country, I can easily buy bitcoins with my mobile load and through money remittance; and I can sell bitcoins instantly through cardless ATM withdrawal

crazyivan

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OROBTC

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...

alj92 is having similar problems to what Peru would be having if anyone there were interested (which last time I looked into this via our company there). NO ONE in Peru seems to care about Bitcoin, other than a few tekkies, and even then there is next to NO BTC traffic.

BTC would not work well for our small company there because of the tight restrictions their taxation authorities place on businesses -- for example EVERY transaction we make has to go to them via email on a spreadsheet... Not even the USA does that!

JeWay

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Because not everyone believe in Bitcoin yet, they have a fear of new technology.

dothebeats

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Not familiar in Colombia. Have you tried localbitcoins? Russia too, don't have exchanges but localbitcoins seemed to fulfill the job of buying/selling bitcoins there.

alj92

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Quote from: franky1 on October 30, 2015, 10:06:39 PM

problem 1

Quote from: alj92 on October 30, 2015, 08:59:26 PM

I live in Colombia, using peso' ...-... CAVIRTEX, the Canadian Exchange

if you live in columbia, use a columbian exchange that accepts peso's, leave the bitcoin<->canadian dollars for the recipient to deal with, you should never need to be having a canadian bank account involved.. otherwise your not really doing anything different then a canadian to canadian wire transfer..

whomever told you to use cavirtex obviously missed the point

problem 2
it seems you didnt do much of a search on peso exchanges..
try googling:
bitcoin peso
bitcoin mexico
bitcoin columbia

i seen many results on google that seemed to favour your native currency..

all you need to do is link your columbian/mexican bank to a columbian/mexican exchange. and buy bitcoin..
there is no need to care about canadian banks or rates.. stick with what you initially wanted.. to get peso's and turn them into bitcoin fast to give to recipient. then the recipient deals with the canadian side.. not you

There is no Bitcoin exchange for Colombia. There is one said to be in the works but one does not exist at the moment. The Mexican peso and Colombian peso are different currencies as well as different countries...

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