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RE: Where can I buy Bitcoin that I don't have to wait a week to arrive??
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You can try localbitcoins.com, there are many methods to buy bitcoin and depending on the seller, you can get it the same day.
If you can find something that people pay bitcoin for, you could buy it with another payment method and then sell it for bitcoin.
Example: Some popular MMORPG games such as Runescape have players that will buy the in game currency/points with Bitcoin and other players that will sell their points for PayPal. So, you can buy the runescape gold with your PayPal, then find a buyer that will pay with Bitcoin. You may have to sell for 10% less but you will have your bitcoin same day.
Check out Sythe.org to find these types of MMORPG markets. Let me know if you have any questions about that method.
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Thank you! What interesting ideas. I will check out both options. I am not a gamer, so I'd be a Stranger in a Strange Land, but then again so I was in cryptocurrency not that long ago. It would actually crack me up if I were using Runescape to exchange currency! The 10% hit hurts, though. Would I pay that much of a premium on Localbitcoins?
Thanks again! I may come back with questions once I've taken a recce around Sythe.org.
Apologies for the many shorter replies, but it is storming here and if the power goes out (as it frequently does) replies aren't saved.
Local bitcoins has a pretty bad premium. It's also not very user-friendly. Honestly, if you described what you are doing to any bank teller or grandma/pa, they'd think you were insane or getting scammed.
Having said that, I've put about $30K USD through LBC (in and out) and the interface works well and the seller I work with has been reliable and prompt. I'd give him or her a plug here but....well, let's just say you want to find a confirmed pro trader tag. Expect to pay $100 over the price of each BTC at least, and much more if you use payment other than Cash Deposit.
Cash Deposit is the preferred method IMO for safety and reliability. You take cash to whatever branch your seller tell you to, deposit it into an account the seller has given you, send a picture of your receipt to the seller (after getting verified via Driver's License usually), and then he releases the bitcoin into your LocalBitcoins account.
It's a LOT like ebay for bitcoins, with a bit better transaction interface and a much worse searching interface.
Oh for god's sake! That does sound pretty nutty. And god knows I love this whole crypto thing since I started in it about a month ago, but sometimes I feel like I'm completing an operation in Soviet Russia. It's amusing, though, much more than it is annoying. So far I am finding endless enjoyment of the sheer novelty of it.
But I just figured out something - if I buy on Coinbase with my debit card I won't have to wait. It's only when I use my bank account that they put a 7 day hold on. Not sure what my Coinbase purchasing limit is, but I'll just keep building it up.
Thanks again for your various replies!
That's a clever idea, but I wouldn't recommend moving through game currencies for someone new to it. There's a lot of potential for getting trade-scammed in that carry-trade.
(psuedo-)Citation: I have sold tons of USD across about 6 MMOs
Oh wow, just as well I didn't try that.
That's a clever idea, but I wouldn't recommend moving through game currencies for someone new to it. There's a lot of potential for getting trade-scammed in that carry-trade.
Yeah its very easy to be scammed out here @lexiconical
Definitely want to deal with only very trusted people and split the trade up into smaller amounts if possible.
Safe trading all!
There's one guy on LBC...he may or not be the highest ranked officer on a pirate vessel and have a name synonymous with food preparation...
He's solid to deal with.