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Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Here is a quick guide for those that wish to either purchase, or withdraw their Bitcoin anonymously.
A lot of people use websites that allow you to enter your credit card or bank information, such as coinbase.com, to cash out or purchase bitcoins. This will give you the best buying and selling rates (you purchase and sell at market value), but there will be a direct connection to you and the Bitcoins. If you wish to remain anonymous for whatever reason, the easiest and most convenient way to purchase and sell Bitcoin is through www.localbitcoins.com. Quick LocalBitcoins.com Guide
If you go to the website and click either "Buy" or "Sell" at the top, scroll down and you can select your country at the bottom. This will give you a list of buyers or sellers in your area with prices/fees that vary depending on the method of funding. If you click "show more" under the list of buyers or sellers, you'll get a drop down menu with a pretty big list of options you have. Certain options will have lower/higher fees than others, generally ranging from 3%-30%. Be cautious with who you deal with and make sure to view their feedback/reputation before opening a trade.
Buying Bitcoin Anonymously- Meeting up with someone locally in your area and giving them cash (Fees range 3%-5%). This is the best way of purchasing Bitcoins anonymous with no limits to how much you can buy.
- Cash deposit at bank (Fees range 3%-5%). Only a few banks will request for ID if you're making a deposit into someones account, but most deposits under $1000 do not require ID.
- Cash in mail (Fees range 3%-5%). Much safer than you can imagine, but always assume the risk and get tracking.
- Western Union & Moneygram (Fees range 5%-10%). This generally has a maximum of $2000 before they ask for ID.
**Note: Some Bitcoin sellers will require verification before you can contact them, but not all of them require this** Selling Bitcoin Anonymously- Meeting up with someone locally in your area, is the easiest, cheapest, and most convenient way to unload your Bitcoins anonymously. The Bitcoin buyer will generally charge you a 3-5% fee on the amount you wish to exchange. As you establish a relationship with your buyer, they will generally drop the fees (so be kind to these guys!). There are many reputable and friendly sellers out there (you can choose who you trade with by viewing their reputation/feedback on LocalBitcoins.com). If you do choose to meet up with someone locally, assuming you chose someone very reputable, you'll realize they are pretty cool and knowledgeable people. But don't stick with 1, meet up with a few different buyers/sellers and choose the one that is the most professional and you'll have a contact you can keep for life. The professional traders make a living buying/selling Bitcoins at 3-5% premiums both ways.
If you have any questions feel free to reply to the thread. Happy trading :thumb: |
| JamesNorth101 | 01-09-2017 06:18 PM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quite a lot of the sellers on Localbitcoin themselves want photo ID before they will sell to someone. Seems to be more and more common at the moment.
Even face to face transactions they now seem to be starting to ask for ID before the meeting. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by JamesNorth101
(Post 823123)
Quite a lot of the sellers on Localbitcoin themselves want photo ID before they will sell to someone. Seems to be more and more common at the moment.
Even face to face transactions they now seem to be starting to ask for ID before the meeting.
| That's common for purchasing bitcoin via Bank transfer, or methods that can be disputable so the Bitocin sellers have some form of protection.
For buying/selling cash in person, you wouldn't need ID. |
| JamesNorth101 | 01-11-2017 05:47 PM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
That did used to be the case until people buying BTC with cash started getting mugged for their cash. Now quite a few of them will ask to see ID before agreeing to meet. Not all, but it is becoming more and more common.
Bank transfers cannot be disputed. ID is requested simply so the seller / buyer is protected |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by JamesNorth101
(Post 823612)
That did used to be the case until people buying BTC with cash started getting mugged for their cash. Now quite a few of them will ask to see ID before agreeing to meet. Not all, but it is becoming more and more common.
Bank transfers cannot be disputed. ID is requested simply so the seller / buyer is protected
| That is not true, the majority of traders for cash are not requesting ID https://localbitcoins.com/sell-bitco...144/london-uk/
The top 5 cheapest sellers in your area are not requesting ID
--
Bank transfers can be reversed within 15 minutes of initiating the transfer. Its a big problem a lot of BTC traders face that trade, trust me I have many friends in the business. ID is required to protect the seller as well as KYC regulation in the UK
Cash in person is your best bet if you want to buy/sell BTC anonymously. |
| JamesNorth101 | 01-11-2017 06:07 PM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
In the UK when a bank transfer is complete it cannot be returned without permission of the receiver. There are some banks (who have singed up to a voluntary code) that can put the funds into a hold in the case of transfers being made to the wrong person, but the funds only get returned when the receiver agrees. There is no automated return process for bank transfers. I am not sure who has mentioned a 15 minute reversal time but I am afraid that just doesn't exist.
While a lot of the sellers do not say they need ID quite a lot of the time when you actually get to the stage of completing the transaction some (not all) will ask for ID even though. There are still a lot of sellers that do not require ID, but it is becoming more common for sellers to request ID |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by JamesNorth101
(Post 823617)
In the UK when a bank transfer is complete it cannot be returned without permission of the receiver. There are some banks (who have singed up to a voluntary code) that can put the funds into a hold in the case of transfers being made to the wrong person, but the funds only get returned when the receiver agrees. There is no automated return process for bank transfers. I am not sure who has mentioned a 15 minute reversal time but I am afraid that just doesn't exist.
While a lot of the sellers do not say they need ID quite a lot of the time when you actually get to the stage of completing the transaction some (not all) will ask for ID even though. There are still a lot of sellers that do not require ID, but it is becoming more common for sellers to request ID
| When you start talking to a lot of BTC traders, you'll see its very possible to get a UK bank transfer reversed within the first 15 minutes of the transfer. Many of them don't release BTC until an hour has passed and ID is verified.
I've traded with around 20 people in real life and none of them have ever requested ID, nor have I ever seen the request for it. Even if you meet up with some John Doe, and he asks to see your ID, the transaction itself is still anonymous since its only you and the trader that are communicating.
None of your posts have been helpful to this actual topic, so I say lets move on. This thread/guide is to provide people with insight on how to buy/sell Bitcoin without trails leading back to them. If you have other methods that could help people, I think that would be relevant and helpful to this thread |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Some of the statements you've made in this thread seem very incorrect. I speak solely from a UK point of view - if your topic pertains to the US I think you should make it clear. Quote:
you'll see its very possible to get a UK bank transfer reversed within the first 15 minutes of the transfer
| Do you have a credible source to backup this statement? From what I am aware is that banks cannot automatically reverse a transfer because it would allow anyone who had bought something to haul back the payment after receiving their goods.
In some cases a process to reverse funds can be initiated if the sender reports they've accidentally sent it to the wrong account, but even then it's down to the receipient if they wish to refund or resist - the latter would lead to further investigation.
So I dont quite get where your getting this 15 minute window from? Quote:
Many of them don't release BTC until an hour has passed
| Most vendors accepting Bitcoin won't release product/service until 6 confirmations take place. Each confirmation takes roughly 10 minutes. So I think that's what is causing the 1 hour wait.
Out of curiosity what do you do during this one hour? Seems very counter productive. I can't imagine a world where we had to wait around for an hour each time we made a payment somewhere lol |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by Play
(Post 823658)
Some of the statements you've made in this thread seem very incorrect. I speak solely from a UK point of view - if your topic pertains to the US I think you should make it clear.
Do you have a credible source to backup this statement? From what I am aware is that banks cannot automatically reverse a transfer because it would allow anyone who had bought something to haul back the payment after receiving their goods.
In some cases a process to reverse funds can be initiated if the sender reports they've accidentally sent it to the wrong account, but even then it's down to the receipient if they wish to refund or resist - the latter would lead to further investigation.
So I dont quite get where your getting this 15 minute window from?
Most vendors accepting Bitcoin won't release product/service until 6 confirmations take place. Each confirmation takes roughly 10 minutes. So I think that's what is causing the 1 hour wait.
Out of curiosity what do you do during this one hour? Seems very counter productive. I can't imagine a world where we had to wait around for an hour each time we made a payment somewhere lol
| https://www.reddit.com/r/BitcoinUK/c...bank_transfer/ https://www.reddit.com/r/BitcoinUK/c..._i_just_had_a/ https://www.reddit.com/r/Bitcoin/com...sale_for_3500/ https://muut.com/i/localbitcoins/reg...ank-transfer-r https://muut.com/i/localbitcoins/fra...ction-reversed
Like I said, I have more experience with this than you guys. Lets keep this thread on topic. It's meant to help guide people into purchasing/trading Bitcoins anonymously. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Thanks elmo - pretty interesting. |
| GreenBean | 01-12-2017 05:05 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Lots to look at as many of us trade on both sides of the big pond.
:thumb: |
| Ebayorbust | 01-12-2017 05:09 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
My goodness, there's just so many helpful guides being produced at the moment. Is there some sort of competition running that we should be aware of? |
| GreenBean | 01-12-2017 05:11 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by Ebayorbust
(Post 823726)
. Is there some sort of competition running that we should be aware of?
| Censor rating prevents my describing the competition for you....
:violin: |
| JamesNorth101 | 01-12-2017 07:32 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823664)
| Some of those links talk of payments being rejected, not reversed. That is a totally different thing. A UK bank transfer cannot be reversed when it has cleared into the receivers account.
I hate to say this but some person posting something on Reddit isn't a credit source.
These are abstracts from a UK new paper in 2016 Quote:
Consumers often think it’s a simple case of notifying their bank of the error, and the bank rectifying the situation straight away,” said Damien Fahy, finance expert from Moneytothemasses.com. “But if you think this, you are in for a shock. There is no automatic process for immediately reversing payments.”
| Quote:
“Faster payments cannot be recalled once sent,” said a spokeswoman for Santander. “If funds are credited to another account then the authority of the accountholder needs to be obtained in order for these to be released.”
| When a bank transfer has cleared into the receivers account it cannot be reversed without the consent of the receiver unless in the case of some serious fraud cases. I have first hand experience with this as a family member was once scammed for £800 that they paid via bank transfer (assuming if there was an issue it could be reversed) and it was never recovered even though it was a fraud. The only cases that I have seen that when a bank transfer has been reversed in in unauthorized transfer cases. In this day and age with all the banking fobs that is near enough unheard of. Quote:
None of your posts have been helpful to this actual topic, so I say lets move on. This thread/guide is to provide people with insight on how to buy/sell Bitcoin without trails leading back to them. If you have other methods that could help people, I think that would be relevant and helpful to this thread
| When things are posted as a guide on the forum its always good for that information to be totally correct. That isn't the case in parts of the thread so I am ensuring that any slight mistakes are pointed out so you are able to correct them and members are not taking away incorrect information from the thread. Quote:
I've traded with around 20 people in real life and none of them have ever requested ID, nor have I ever seen the request for it. Even if you meet up with some John Doe, and he asks to see your ID, the transaction itself is still anonymous since its only you and the trader that are communicating.
| That is interesting. A few months ago you were not sure how BTC worked so its interesting to hear that your using it so often now.
In the US, where you are based, it may well be that people do not ask for ID. Quite often in the UK they do. Not always, but as I have said a few times it is becoming more common. When posting with a UK flag it will be assumed that you are based in the UK so if most the experience comes from trading in person in the US it may be a good idea just to make that clear.
To be 100% clear not everyone meeting in person will ask for ID. Some will though. 2 years ago no one ever used to ask for ID, and now some have started to ask for ID. That means it is becoming more common to ask for ID when meeting in person in my experience. To be totally transparent though the time I was asked for ID was NOT using LBC so it may well not be common on LBC. It may well be that people will start to ask for ID on LBC but that would be guess work. I imagine it will depend totally on the transaction amount. I personally cannot see someone happy to meet to trade £3,000 in cash for BTC without wanting to see some sort of ID before hand, but that is just a personal view. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by JamesNorth101
(Post 823754)
Some of those links talk of payments being rejected, not reversed. That is a totally different thing. A UK bank transfer cannot be reversed when it has cleared into the receivers account.
I hate to say this but some person posting something on Reddit isn't a credit source.
These are abstracts from a UK new paper in 2016
When a bank transfer has cleared into the receivers account it cannot be reversed without the consent of the receiver unless in the case of some serious fraud cases. I have first hand experience with this as a family member was once scammed for £800 that they paid via bank transfer (assuming if there was an issue it could be reversed) and it was never recovered even though it was a fraud. The only cases that I have seen that when a bank transfer has been reversed in in unauthorized transfer cases. In this day and age with all the banking fobs that is near enough unheard of.
When things are posted as a guide on the forum its always good for that information to be totally correct. That isn't the case in parts of the thread so I am ensuring that any slight mistakes are pointed out so you are able to correct them and members are not taking away incorrect information from the thread.
That is interesting. A few months ago you were not sure how BTC worked so its interesting to hear that your using it so often now.
In the US, where you are based, it may well be that people do not ask for ID. Quite often in the UK they do. Not always, but as I have said a few times it is becoming more common. When posting with a UK flag it will be assumed that you are based in the UK so if most the experience comes from trading in person in the US it may be a good idea just to make that clear.
To be 100% clear not everyone meeting in person will ask for ID. Some will though. 2 years ago no one ever used to ask for ID, and now some have started to ask for ID. That means it is becoming more common to ask for ID when meeting in person. It may well be that people will stop asking for ID again or that more people will start asking for ID. At the moment its still relatively rare for ID to be asked for when meeting in person, but it does happen.
| Bottom line:
1. Bank transfers CAN be reversed.
2. ID's are not checked the majority of the time if you are trading Bitcoin in person for cash
Back on topic, please no more 6 page essay replies.
Thread is to help people purchase Bitcoins anonymously. |
| JamesNorth101 | 01-12-2017 09:08 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
One simple way that BTC can be cashed out without the need for ID would be to via an ATM using a BTC issued card.
Upto a certain limit there is no need to provide ID when applying for these cards.
You can then take the card to any ATM and cash can be withdrawn. Any ATM can be used for these withdrawals. This is how I personally withdraw nearly all my BTC although I do use ID verified cards as they have much higher limits
Another option is to make sure of the dedicated BTC ATMs that are popping up around the world. I have never used one myself, but my understanding is that BTC can be purchased or sold at one of these machines without the need for ID
There is a slight different between not needing to prevent ID though and being totally anonymous. In this day and age very few things are totally anonymous |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by JamesNorth101
(Post 823764)
One simple way that BTC can be cashed out without the need for ID would be to via an ATM using a BTC issued card.
Upto a certain limit there is no need to provide ID when applying for these cards.
You can then take the card to any ATM and cash can be withdrawn. Any ATM can be used for these withdrawals. This is how I personally withdraw nearly all my BTC although I do use ID verified cards as they have much higher limits
Another option is to make sure of the dedicated BTC ATMs that are popping up around the world. I have never used one myself, but my understanding is that BTC can be purchased or sold at one of these machines without the need for ID
There is a slight different between not needing to prevent ID though and being totally anonymous. In this day and age very few things are totally anonymous
| You are in love with me :)
Although ATMs are a good way to withdraw, all of them will have cameras. Some will require ID, and some will require a finger print.
They're good options to withdraw/purchase Bitcoin, but there are far better ways to do the transaction more anonymously. Such as, meeting up locally and exchanging cash. |
| Bunneh | 01-12-2017 09:21 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by JamesNorth101
(Post 823764)
One simple way that BTC can be cashed out without the need for ID would be to via an ATM using a BTC issued card.
Upto a certain limit there is no need to provide ID when applying for these cards.
You can then take the card to any ATM and cash can be withdrawn. Any ATM can be used for these withdrawals. This is how I personally withdraw nearly all my BTC although I do use ID verified cards as they have much higher limits
Another option is to make sure of the dedicated BTC ATMs that are popping up around the world. I have never used one myself, but my understanding is that BTC can be purchased or sold at one of these machines without the need for ID
There is a slight different between not needing to prevent ID though and being totally anonymous. In this day and age very few things are totally anonymous
| Especially with that new 'The Snoopers Charter' that has just been passed in government..:nerd: |
| Bunneh | 01-12-2017 09:23 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823766)
You are in love with me :)
Although ATMs are a good way to withdraw, all of them will have cameras. Some will require ID, and some will require a finger print.
They're good options to withdraw/purchase Bitcoin, but there are far better ways to do the transaction more anonymously. Such as, meeting up locally and exchanging cash.
| Where on earth do you live?
Never heard of an ATM requiring such, not even in a 3rd world country?
I dont know about you... but i certainly wouldnt been 'random folk' doing this sort of thing in public places.. you never know who you might be meeting.. |
| just_smile | 01-12-2017 09:23 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823763)
Bottom line:
1. Bank transfers CAN be reversed.
| Can you provide a reliable source that proves this statement.
I'd appreciate it as I'm with the other UK guys. All official documentation and websites state they can't be reversed without following a strict protocols.
I've just done a quick Google search but it's only sketchy people posting on forums who have had money reversed from their bank. So I take their testimony with a pinch of salt. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by Bunneh
(Post 823768)
Where on earth do you live?
Never heard of an ATM requiring such, not even in a 3rd world country?
I dont know about you... but i certainly wouldnt been 'random folk' doing this sort of thing in public places.. you never know who you might be meeting..
| Hello Bunneh! :yar:
Bitcoin ATMs: https://coinatmradar.com/blog/how-to...h-bitcoin-atm/ Quote:
Originally Posted by just_smile
(Post 823769)
Can you provide a reliable source that proves this statement.
I'd appreciate it as I'm with the other UK guys. All official documentation and websites state they can't be reversed without following a strict protocols.
I've just done a quick Google search but it's only sketchy people posting on forums who have had money reversed from their bank. So I take their testimony with a pinch of salt.
| I know many big time BTC traders on LocalBitcoins and the most common scam they deal with is receiving a UK bank transfer from a stolen bank account. Its very common in the BTC trading world because BTC cannot be reversed. JamesNorth also didn't believe bank transfers could be reversed but I gave him some proof via a conversation with one of the largest BTC traders in the UK.
Its definitely possible to reverse bank transfers. |
| Ebayorbust | 01-12-2017 09:26 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Whilst a faster payment can be disputed it cannot be automatically reversed and certainly not in 15 minutes. |
| JamesNorth101 | 01-12-2017 09:26 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823766)
You are in love with me :)
| :hail: I like to think our relationship transcends love.
If your going down the camera being an issue route though about 90% of London is covered by CCTV cameras (of course that just applies to London) so that may be a slight issues for someone living in a major city if they are that paranoid. If people are that worried about being caught trading BTC though they may have other bigger things to worry about.
You are correct in that nearly all ATMs do have cameras. There are a few of the older mobiles ones that don't yet, but I imagine that will change when they are upgraded.
I am not sure I have ever come across an normal ATM that needs a finger print and ID so that is news to me. Unless you are referring to the BTC dedicated ATMs? In which case that is a bit different.
I had heard of ATMs that are introducing retinal scans though in the future but as far as I know that is still in the realms of Sci Fi. |
| Ebayorbust | 01-12-2017 09:30 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Why the need to cash out anonymously anyway?
We don't condone criminal behaviour or tax evasion on this forum so cashing out BTC anonymously shouldn't really be discussed.
My personal preference is to use a BTC debit card. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by Ebayorbust
(Post 823771)
Whilst a faster payment can be disputed it cannot be automatically reversed and certainly not in 15 minutes.
| It certainly can big boy!
15 minutes is just a random number, I didn't mean anything significant by it.
Talk to any big time traders on Localbitcoins and they will tell you UK bank transfers get frequently reversed. Its the most common scam they deal with. |
| Ebayorbust | 01-12-2017 09:34 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823774)
It certainly can big boy!
15 minutes is just a random number, I didn't mean anything significant by it.
Talk to any big time traders on Localbitcoins and they will tell you UK bank transfers get frequently reversed. Its the most common scam they deal with.
|
Take your condescending comments and do one. :mad: |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by Ebayorbust
(Post 823775)
Take your condescending comments and do one. :mad:
| When you gonna stop playing hard to get and let me take you out to dinner.
All I want to do is hold your hand and frolic through the meadows :FF: |
| JamesNorth101 | 01-12-2017 09:46 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
I feel betrayed... I thought we had something special Elmo. I thought our arguing was flirting.
Its like a dagger through my heart |
| Ebayorbust | 01-12-2017 09:48 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823778)
When you gonna stop playing hard to get and let me take you out to dinner.
All I want to do is hold your hand and frolic through the meadows :FF:
| If only that UK flag on your profile was genuine then I would take you up on that kind offer. I was somewhat disappointed when I discovered you actually live 4000 miles away in the US. |
| Bunneh | 01-12-2017 09:51 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Elmo.. i dont know about you but i certainly wouldnt want to be on the wrong side of a scotsman :behindsofa: |
| vetus | 01-12-2017 10:38 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823766)
You are in love with me :)
| I think I speak for a lot of people, no one is in love with you. :pound: |
| just_smile | 01-12-2017 11:02 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823774)
It certainly can big boy!
Talk to any big time traders on Localbitcoins and they will tell you UK bank transfers get frequently reversed. Its the most common scam they deal with.
|
This is just bollocks.
I know someone who was defrauded of £2k via bank transfer.
After the initial investigation the bank decided there was nothing they could do as he had willingly sent the money.
It's the safest payment method to accept as a seller. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by just_smile
(Post 823797)
This is just bollocks.
I know someone who was defrauded of £2k via bank transfer.
After the initial investigation the bank decided there was nothing they could do as he had willingly sent the money.
It's the safest payment method to accept as a seller.
| That reminds me, I too was defrauded when I was naive enough to have trusted someone on Gumtree by paying via Bank Transfer several years back.
Learned two lessons. Gumtree is for face to face deals. Bank Transfers cannot be reversed. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by just_smile
(Post 823797)
This is just bollocks.
I know someone who was defrauded of £2k via bank transfer.
After the initial investigation the bank decided there was nothing they could do as he had willingly sent the money.
It's the safest payment method to accept as a seller.
| Quote:
Originally Posted by Play
(Post 823809)
That reminds me, I too was defrauded when I was naive enough to have trusted someone on Gumtree by paying via Bank Transfer several years back.
Learned two lessons. Gumtree is for face to face deals. Bank Transfers cannot be reversed.
| No one believes me lol...
If you guys want undeniable proof its very possible to get UK bank transfers reversed, send me a PM with your skype |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by elmo
(Post 823853)
No one believes me lol...
If you guys want undeniable proof its very possible to get UK bank transfers reversed, send me a PM with your skype
| Let's make this interesting. How about you send us a reasonable sum of money, then you can try your luck at reversing it. Of course if you fail, its ours to do as we will. :)
That ought to put this topic to rest. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by Play
(Post 823858)
Let's make this interesting. How about you send us a reasonable sum of money, then you can try your luck at reversing it. Of course if you fail, its ours to do as we will. :)
That ought to put this topic to rest.
| Why not hit up JamesNorth, he didn't believe it was possible either. I gave him the proof already. If you want it, just hit me up on skype or PM |
| JamesNorth101 | 01-12-2017 05:16 PM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
No you didn't give me proof... You showing me a Skype conversation you had with another person who said that it is possible. That just is not proof...
The other person in question simply said in the case of fraud bank transfers can sometimes be reversed, which is I imagine true in very very rare cases and only in cases of unauthorized bank transfers. That is very very different to what has been said in this thread & with all the banking fobs needed these days unauthorized bank transfers just doesn't happen anymore apart from the odd very rare example.
I once had a conversation with someone who swears that they saw a dinosaur. If I showed you that conversation would you then take that as proof that dinosaurs exist? Of course not. |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
Quote:
Originally Posted by JamesNorth101
(Post 823869)
No you didn't give me proof... You showing me a Skype conversation you had with another person who said that it is possible is not proof...
The other person simply said in the case of fraud bank transfers can sometimes be reversed, which is true in very very rare cases and only in cases of unauthorized bank transfers they can be revered sometimes. That is very very different to what has been said in this thread & with all the banking fobs needed these days for bank transfers just doesn't happen anymore
I once had a conversation with someone who swears that they saw a dinosaur. If I showed you that conversation would you then take that as proof that dinosaurs exist? Of course not.
| This is getting kind of repetitive.
I understand none of you guys believe UK bank transfers can be reversed.
That's fine, you guys are open to have your own opinions and thoughts.
However, if you want facts, they can most certainly get reversed and if you message any large BTC traders in the UK, they will all tell you its very common in the community. There are lots of scammers in the BTC world.
Don't take my word for it, hit any of them up: https://localbitcoins.com/accounts/profile/Nesbit/ https://localbitcoins.com/accounts/profile/BitFastUK/ https://localbitcoins.com/accounts/profile/skegyuk/ https://localbitcoins.com/accounts/p.../aclassliving/ https://localbitcoins.com/accounts/profile/bbhgreb/
There are many many more traders besides the ones linked above
These are guys that accept probably 1000s of bank transfers every month and they will give you the facts. Their business is in making a percentage on exchanges and heavily volume / transaction. They're brokers that deal strictly through accepting bank transfer. If you don't believe me about reversals are possible, hit them up or any large Bitcoin traders.
Lets put this to rest though :deadhorse: |
| Ebayorbust | 01-13-2017 12:55 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
As I stated earlier a UK bank transfer can be disputed but there is no automatic reversal of funds. The recipient of the money is always contacted first.
The process is outlined here:- What to do if you send money to wrong bank account – MSE
I have personal experience of the process as well as I received £500 in error a few month ago. My bank wrote to me stating that the sender had made an error and if I didn't wish to dispute the matter it would be removed from my account within 2 weeks.
Elmo, you've been reading those posts on localbitcoin and jumping to the wrong conclusion. I don't dispute that some of these guys have lost money but it doesn't happen in the way you are claiming and not at the speed you are claiming either. It takes several weeks to recover funds and not the 15 minutes you stated earlier (that "fact" was a figure you just randomly pulled out the air). |
| just_smile | 01-13-2017 03:03 AM |
Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously
If you can't provide a credible source or definitive proof you just need to accept you are wrong on this one Elmo.
I personally am all for plays idea :) |
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