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Signing up for Coinbase isn't instant. Yes, you could find someone locally to exchange cash for Bitcoin, but that's hoping for a lot in terms of security, and i
by aaron-lebo 12y ago
Signing up for Coinbase isn't instant. Yes, you could find someone locally to exchange cash for Bitcoin, but that's hoping for a lot in terms of security, and isn't exactly convenient, either.
- modeless 12y agoSigning up for Circle is instant.
- aaron-lebo 12y agoWhen I said signing up, I meant the whole process of getting to where you can actually exchange USD for Bitcoin. On Coinbase they ask for bank account information, and that can take several days to verify. There is no process of identity verification on Circle before you can actually buy Bitcoin from them?
- modeless 12y agoI know what you meant. No, there is no delay after signing up before you can buy Bitcoin on Circle.
- aaron-lebo 12y agoNo kidding. That argument is outdated, then. Thanks for the heads up.
- gst 12y agoYou don't need to verify a bank account. Just link a debit or credit card - instant without verification.
- gress 12y agoHow is obtaining a credit or debit card instant?
- aaron-lebo 12y agoYou could walk into a Wal-mart or CVS with cash and buy a prepaid debit card. Not instant, but not especially difficult.
- gress 12y agoTrue but it puts paid to this ridiculous idea that transferring money via Bitcoin is somehow more convenient than regular banking.
- epaga 12y agoNo there isn't. I have no idea how they pulled it off, but it really is instant. In less than 5 minutes, I went from not having a Circle account to having a Bitcoin transaction on the blockchain transferring BTC I bought with a credit card to my own private wallet. Circle is amazing.
- aaron-lebo 12y agoThe issue with this (as you probably know) has always been the danger of chargebacks. I ran across a reddit post [1] discussing it. I dunno if they've completely dealt with the issue, but it is pretty fascinating to see they are even trying. [1] http://www.reddit.com/r/Bitcoin/comments/2hvld5/let_me_address_the_elephant_in_the_room_how/ http://www.reddit.com/r/Bitcoin/comments/2hvld5/let_me_addre...
- dwild 12y agoIs it possible to charge it as a cash advance to avoid that issue? It's essentially a cash advance...
- imaginenore 12y agoSigning up for a bank account is even less instant.
- aaron-lebo 12y agoYes, but if sending money on Coinbase means that you have to sign up for a bank account anyway...
- gst 12y agoIf you don't want to use a bank account you can use https://mycelium.com/ https://mycelium.com/ or https://localbitcoins.com/ https://localbitcoins.com/. Or just use https://bitpay.com/getbits https://bitpay.com/getbits and check if one of your friends on Facebook is selling coins.
- gress 12y agoBuying a western union check and meeting someone in an alleyway to get a thumb drive is easier than just using a bank? I think not.
- gst 12y agoOf course it's not. But the argument of the parent poster was that you require a bank account. Also, most experienced traders on https://localbitcoins.com/ https://localbitcoins.com/ will prefer to meet in a very public place or in a police station, instead of an alleyway.
- gress 12y agoThe parent's argument that a bank account is needed was a retort to the idea that Bitcoin is easier than banking. Conducting financial transactions in a police station is not easier than using a bank, so whilst a bank account isn't strictly necessary it doesn't change the argument that Bitcoin is harder to use than regular banking.
- conception 12y agoBTC ATMs are gaining in popularity. Which reduces the requirements to the same as going to any ATM.
- conception 12y agoThis also isn't a technology issue, as it is a structural one. There are stores that sell BTC, there just aren't ones near you.
- Touche 12y agoDoes it matter what type of issue it is? You can't say Bitcoin is easier than traditional currency and ignore the parts where it is not easier.