Bitcoin Guide/Tutorial: What is it?, How do you buy it, Spend it, Withdraw it etc.

jmag91 · #23 01-02-2017

I just read this thread because I've been wondering what exactly bitcoin does.

You answered all my questions and I am now really excited to get up and moving on using Bitcoin to pay for my orders of product.

Thank you so much, Play!

access0ner · #24 01-13-2017

ok so, i just created my bitcoin wallet added my bank account and added bitcoin from my bank account.

what a bunch of malarkey! :beer: i made a $10.20 bitcoin purchase to get my shift card! The Bitcoin still hasn't gone through and it's a week later. 11 days to get the money into my bitcoin wallet, really!?

Why does this happen? How can I get the money into my bitcoin wallet in seconds/minute? What's going on!?

This isn't worth it?

The bitcoin value is lower now, so I can't even get the Shift card at this point in time beacuse I don't haev even have enough balance in there for $10 in bitcoin to obtain the Shift card.

Again, how can I get money into bitcoin wallet faster?

JamesNorth101 · #25 01-13-2017

You a card to buy BTC. That is instant

Or buy BTC on LBC

Ebayorbust · #26 01-13-2017

Quote:

Or buy BTC on LBC

I'm sure there's a guide for that too.

i think we're going to soon need a "Guide to the latest forum guides".

Play · #27 01-13-2017

Quote:

Originally Posted by access0ner

Again, how can I get money into bitcoin wallet faster?

This is why I clearly stipulated in the guide:

Quote:

3. Then select your payment method, ensure its a card payment (3.99% fee).
Using a bank to fund your payments can take a lot longer (a bit like funding PayPal payments with your bank).

It follows the exact same principle as PayPal - whereby if you fund payments using a Bank account, it takes longer since the funds need to clear into PayPal / Coinbase prior to them allocating the balance for you to use.

Always try use a credit / debit card to make the transaction process smoother when buying BTC.

merlinx · #28 01-13-2017

Coinbase and Bittylicious are my go to BTC providers atm.
Do you think we will ever see a service like 'Circle' again?

nodeal · #29 04-12-2017

Quote:

Originally Posted by Play

This is why I clearly stipulated in the guide:

It follows the exact same principle as PayPal - whereby if you fund payments using a Bank account, it takes longer since the funds need to clear into PayPal / Coinbase prior to them allocating the balance for you to use.

Always try use a credit / debit card to make the transaction process smoother when buying BTC.

Hey Play,

If I am reading coin base's site correctly, it seems like they only allow the purchase of BTC with a bank account? When I go through the help/tutorial guides on buying BTC, it doesn't show credit card as an option.

Play · #30 04-12-2017

Quote:

Originally Posted by nodeal

Hey Play,

If I am reading coin base's site correctly, it seems like they only allow the purchase of BTC with a bank account? When I go through the help/tutorial guides on buying BTC, it doesn't show credit card as an option.

I can't speak for the US platform, but I purchased bitcoins on the UK platform a few days ago, and it worked fine (using a debit card).

Note - I used the mobile app as the website was a tad buggy.

JamesNorth101 · #31 04-12-2017

Quote:

Originally Posted by nodeal

Hey Play,

If I am reading coin base's site correctly, it seems like they only allow the purchase of BTC with a bank account? When I go through the help/tutorial guides on buying BTC, it doesn't show credit card as an option.

I am pretty sure (from memory) that the US is a much more limited in terms of buying options when it comes to BTC so you may well be right that its only limited to bank accounts.

It may be worth opening a ticket with CoinBase to see if they are or will be offering a CC or DC option as they are the guys that would know best.

elmo · #32 04-16-2017

Quote:

Originally Posted by nodeal

Hey Play,

If I am reading coin base's site correctly, it seems like they only allow the purchase of BTC with a bank account? When I go through the help/tutorial guides on buying BTC, it doesn't show credit card as an option.

It could be that you are not yet verified maybe.

Check this link:

https://support.coinbase.com/custome...ard-in-the-us-

Play · #33 04-16-2017

Quote:

Originally Posted by elmo

It could be that you are not yet verified maybe.

Check this link:

https://support.coinbase.com/custome...ard-in-the-us-

Part of Coinbase's sign up process is verification.

You cannot begin using any part of their services without undergoing successful verification.

So that won't be the issue.

elmo · #34 04-16-2017

I haven't used coinbase in a while. Couple years back they didn't require ID verification unless you went over a certain weekly deposit amount.

If they now require ID on sign up that is news to me

bjammin · #35 04-20-2017

Coinbase in the US will allow you to purchase via bank account or credit/debt card. I can use both to purchase; however, they allow me to buy more with my bank account than my card. But using your bank account seems to take longer to get the BTC than using your card.

danshan · #36 04-20-2017

they require everything to use an account and be very very careful of what addresses you use to send to from coinbase, they will ban you in a minute if you send to an address they dont like or is a company they dont like ie gambling, people on the darkside blah blah.

danshan · #37 04-20-2017

they track (very deep) receiving and sending addresses

Play · #38 06-26-2017

Thread updated June 2017

Now includes a video tutorial on how to purchase Bitcoins using Local bitcoins.

Hope that help's if/when Coinbase is down for maintenance.

Play · #39 11-13-2017

Bitcoin is fairly cheap at the moment. If anyone is interested in getting started with it, this guide should help you.

If you decide to use Bitcoin for trading, I recommend signing up for Coinbase, then using GDAX (the trading side of things, also owned by Coinbase - no need to register again). Super simple interface.

duffrageous · #40 11-14-2017

Also, make sure you initiate an online wire transfer rather than a bank deposit or debit card purchase. You only pay a $25 wire fee to your bank and get the money in about an hour. I paid $1000 in fees to Coinbase before I knew this. And some people are paying 8.5% ATM fees at 7-11.

nate · #41 11-14-2017

https://www.youtube.com/watch?v=Mb8ge2JfsGg