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Finally Figured out Bitcoin

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north19

Distinguished member
Joined
Jul 1, 2014
Posts
939
It took me over a month. I really never committed before but I have finally made a Bitcoinn transaction through Bitbuy. I am from Canada and from what I read and was told it was one of the best platforms for us Canadians. I really hope the transaction goes through without a hitch because not many vendors want to deal with WU or MG anymore. All the best and if I can help anyone let me know.
 

throwawaymcsneaky

Senior member
Joined
Feb 21, 2020
Posts
111
That's great - I hope everything goes well with the transaction. It took me a while to get the hang of Bitcoin. I use Coinbase, which can delay access to your coins for 1-2 weeks, so I have to plan several weeks ahead of when I want to buy something. Other than that, it's been pretty straightforward.
 

NewarkCap

Honorable member
Joined
Jun 20, 2011
Posts
374
It took me over a month. I really never committed before but I have finally made a Bitcoinn transaction through Bitbuy.
How do you pay for the bitcoins, cash, credit card, ATM, bank transfer etc etc?
 

north19

Distinguished member
Joined
Jul 1, 2014
Posts
939
It took me over a month. I really never committed before but I have finally made a Bitcoinn transaction through Bitbuy.
How do you pay for the bitcoins, cash, credit card, ATM, bank transfer etc etc?
Hi @NewarkCap I paid from my bank account with e transfer it was very simple. Should have done this a long time ago as it leaves much less of a paper trail and it is cheaper than WU or MG too. Just the initial setup and then I watched some youtube videos and it worked, a vendor has the bitcoin I sent him the same day. I am not sure all the different ways you can fund your account I can look into it though.
 
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Kermit S

Eminent member
Joined
May 11, 2013
Posts
1,929
I have been using ATM's that have the LibertyX as an option. I used to have to drive 2-3 hours to a BTC kiosk ... now I am 10 minutes away! Even CVS in some areas is an option.
 

north19

Distinguished member
Joined
Jul 1, 2014
Posts
939
Yeah @Kermit S I don't see any option for ATM not that I would use that as I find the e-transfer or bill payment on bitbuy to be very easy. What do you do at a bitcoin ATM is it just like a regular banking ATM made for bitcoin?
 

Kermit S

Eminent member
Joined
May 11, 2013
Posts
1,929
Yeah @Kermit S I don't see any option for ATM not that I would use that as I find the e-transfer or bill payment on bitbuy to be very easy. What do you do at a bitcoin ATM is it just like a regular banking ATM made for bitcoin?
Yes it is a regular ATM (Gas station, Dollar store .. ect..) that can dispense money or you can purchase BTC with your Debit card. Their app will show you where the closet ATM's that have the LibertyX option in your area.
 

north19

Distinguished member
Joined
Jul 1, 2014
Posts
939
Yeah @Kermit S I don't see any option for ATM not that I would use that as I find the e-transfer or bill payment on bitbuy to be very easy. What do you do at a bitcoin ATM is it just like a regular banking ATM made for bitcoin?
Yes it is a regular ATM (Gas station, Dollar store .. ect..) that can dispense money or you can purchase BTC with your Debit card. Their app will show you where the closet ATM's that have the LibertyX option in your area.
@Kermit S I will look into it and see if atms are available with biybuy as it is good to know all options
 

Santa's little helper

Exalted member
Joined
Feb 24, 2020
Posts
3,692
Yeah @Kermit S I don't see any option for ATM not that I would use that as I find the e-transfer or bill payment on bitbuy to be very easy. What do you do at a bitcoin ATM is it just like a regular banking ATM made for bitcoin?
Yes it is a regular ATM (Gas station, Dollar store .. ect..) that can dispense money or you can purchase BTC with your Debit card. Their app will show you where the closet ATM's that have the LibertyX option in your area.
@Kermit S I will look into it and see if atms are available with biybuy as it is good to know all options
 

throwawaymcsneaky

Senior member
Joined
Feb 21, 2020
Posts
111
Could one take actual cash and buy these bits without being tracked
Thanks

This website seems to have some options to buy using cash, but it's a lot more inconvenient: https://www.buybitcoinworldwide.com/en/buy-bitcoins-with-cash/

Apparently there are local "Bitcoin ATMs" across the country where you can buy bitcoin at. I'm not sure how much information you have to provide though in order to do so, so it might not be the private process you're looking for.
 

Withnail

Honorable member
Joined
May 25, 2016
Posts
432
If using Coinbase to deposit funds from your bank, use Coinbase Pro (same login details as Coinbase)
Coinbase pro will scare the life out of you at first glance, but deposit your funds there, then move them back to the regular Coinbase account. There are no fees to transfer between the two variants.

The rates are much better. Note: Credit/Debit cards cost you a lot more than a wire transfer from your bank.

I am in the EU, and send funds (SEPA Transfer) from my bank account (Not my card) to Coinbase pro and the funds are usually there within a couple of days max.

I'm now trying to get my head around using Coinbase Pro for all transactions as all of the rates are so much better.

Hope this helps, and for what it's worth I also spent months trying to figure out Bitcoin and Crypto, then one day the penny just dropped!!
 

north19

Distinguished member
Joined
Jul 1, 2014
Posts
939
Could one take actual cash and buy these bits without being tracked
Thanks
Hi @Seychelle i had to show driver’s license and bills in my names for Bit Buy it is really easy to use once set up but it is kinds like opening a bank account I wish I could tell you it was as easy as you mentioned but it isn’t. If I can help in anyway please let me know.
 

cp2k

Senior member
Joined
Aug 28, 2020
Posts
161
If using Coinbase to deposit funds from your bank, use Coinbase Pro (same login details as Coinbase)
Coinbase pro will scare the life out of you at first glance, but deposit your funds there, then move them back to the regular Coinbase account. There are no fees to transfer between the two variants.

The rates are much better. Note: Credit/Debit cards cost you a lot more than a wire transfer from your bank.

Thank you for the tip! Coinbase was my first experience with Bitcoin too. Moving money over from my bank went rather smoothly, but I'm going to use the Coinbase Pro trick next time to lower the fees! I just word the other day that my first order paid for with bitcoin shipped. It was much easier than I expected once I got the account set up and working.

For those going the Coinbase route make sure all your information is correct like on your ID when you initially set it up. I'd left the "suffix" off my name because it didn't ask for it, but it caused me issues when it came time for them to verify my ID based on my license.
 

cupeater

Member
Joined
Mar 15, 2020
Posts
54
If using Coinbase to deposit funds from your bank, use Coinbase Pro (same login details as Coinbase)
Coinbase pro will scare the life out of you at first glance, but deposit your funds there, then move them back to the regular Coinbase account. There are no fees to transfer between the two variants.

The rates are much better. Note: Credit/Debit cards cost you a lot more than a wire transfer from your bank.

I am in the EU, and send funds (SEPA Transfer) from my bank account (Not my card) to Coinbase pro and the funds are usually there within a couple of days max.

I'm now trying to get my head around using Coinbase Pro for all transactions as all of the rates are so much better.

Hope this helps, and for what it's worth I also spent months trying to figure out Bitcoin and Crypto, then one day the penny just dropped!!

I'm going to try this out this week. That sounds like an amazing workaround for the 1.5% fee they charge for bank transfers. Thank you!
 

Pokie1999

Lapsed Senior Member
Joined
Sep 24, 2014
Posts
155
Bitcoin always has seemed daunting and risky to me but I may want to look into it more for future transactions, especially from vendors that may take it.
 

marcvasa

Senior member
Joined
Jan 29, 2021
Posts
114
I have been using Coinbase for years. They used to have cheaper fees and accepted credit cards but even now with debit card or bank transfer being the only funding options it's still my BTC vendor of choice. Once the account is set up and bank is linked it's super easy to purchase BTC and pay whomever your heart desires. I actually prefer vendors who accept BTC because I wouldn't want to provide my CC (and billing) info to some random vendor on internet. It's true that once you paid someone with BTC your money is gone but I'm sure many would agree that buying meds online is a gamble anyway, so the less personal info you provide the better. One piece of advice with BTC- always buy a bit more than you need to pay for a particular shipment ($10-$20 worth) to cover fees and rate fluctuations. Hope it helps.
 

jabone747

Eminent member
Joined
Oct 2, 2011
Posts
1,336
Yeah Coinbase is super easy and I have have issues with payments. That being said I’m a tech nerd. :)
 

jlifeson

Senior member
Joined
Sep 6, 2011
Posts
171
@marcvasa Yeah, the buying extra is key. I learned the hard way a couple of times that the multiple fees add up. Had to buy more to cover costs last time I used BTC (a few months ago) However...because of that I had about $40 sitting in my BTC wallet (my regular over C's vendor couldnt get what I get anymore so i had to move on), and yesterday I logged in for the first time in a couple months and its up to $131! I was surprised to say the least. Now, I know its volitile and can go to 0 in a blink, but I might pull the excess out and leave in $50 just for poops and giggles.
 
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