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Ron518

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Ron518

Well I’m probably a ol fart to most of you l but after getting scammed and not understanding how much of this stuff works I think I just might understand it better. Now if I can just figure out the bitcoin thing I can say this ol dog still can learn a trick or 3 haha. 

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Korengal08

@Ron518 welcome. There’s a whole thread dedicated to this but for me the easiest method that I’m still using today is cash app to buy bitcoin and electrum wallet to hold and use the bitcoins. It is a bit confusing at first but fairly simple after done a couple times. The only downside to using cash app is the need for ID verification but haven’t had any problems so far. Hope you find what you’re looking for. 

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Rippedmover

@Ron518 somewhere I made and posted a guide with pictures. I believe in the payment section. But the easiest to understand is a bitcoin atm or cashier found at www.libertyx.com also download the blockchain wallet app. I unfortunately have to go right now and can't help this moment just try to avoid instant buying on certain sites due to high fees. If no atm or cashier, register at xcoins.com and bitit.io please message me w questions.

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SleepyMonkey
10 hours ago, Rippedmover said:

@Ron518 somewhere I made and posted a guide with pictures. I believe in the payment section. But the easiest to understand is a bitcoin atm or cashier found at www.libertyx.com also download the blockchain wallet app. I unfortunately have to go right now and can't help this moment just try to avoid instant buying on certain sites due to high fees. If no atm or cashier, register at xcoins.com and bitit.io please message me w questions.

That’s a big problem with Bitcoin is you get ripped off in fees converting cash to coin. Not just a couple bucks either.

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Rippedmover
Posted (edited)

If you buy bitcoin yes, but if you trade USD for bitcoin, no.

Cex.io, Kraken etc have live markets just like stocks. Deposit money into your account from debit card, bank, wherever and instead of "buy bitcoin", you go to the trade screen....enter the amount of "USD" you'd like to trade for bitcoin and hit buy. Transfer to external wallet like normal.

Costs about 3% vs 10-20%.

Edited by Rippedmover
Shortness

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Korengal08

@Rippedmover can I ask why no one uses cash app? That’s what I’ve been using and has been great so far. The fees I think are added a little suspiciously but it’s not much. I’m fairly new too but all the other places seem to have much higher fees 

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Rippedmover
Posted (edited)

 

 

Apps such as cashapp use a "midmarket rate" which is slang for overpricing bitcoin value.....

Example: You need to send $200 in bitcoin to a publisher....the true market rate of bitcoin is $8,019 (as I type...Google bitcoin price for current chart)....so you buy $200 on cashapp not realizing their bitcoin rate is inflated to $9,500...above market. While the exchanges actually compete in real time with each other. Cex.io is $8,021 and Kraken is$8,027.....so that same $200 gets you far more than "Instant Buy" apps.....I promise I'll get a video tutorial soon. "Trading" (buying) off of exchanges is about 2.9% fee and that's at market price. Think of Cex.io or Kraken as Nasdaq. @Korengal08 

Ps - Stop being scared of verification with ID etc. Could some hacker spend half a day looking for my transaction price and what wallet I sent it to? Yes theoretically.... Can he see what I bought? Nope. How could he?...  This isn't government regulated nor does it have government oversight. Its online monopoly money with a cool name and loads of scary tinfoil hat, misinformed information going around about it. Noone can see you bought a pumpkin from a amigo.

Edited by Rippedmover
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Korengal08

@Rippedmover I appreciate the answer. Look forward to the video

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Rippedmover

I will attempt to do it in the morning (Wed AM EST time). Like I tell everyone, download blockchain wallet app, it's free and the highest rated, very easy to use.

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Rippedmover
Posted (edited)

Haven't forgotten @Korengal08 I'm figuring out right now how much I need to buy.... Also, my demonstration uses cex.io app (Based in UK, very stable/ secure firm). However, some states are not supported yet (see below from Cex.io site).....Kraken isn't as "user friendly" but it covers all states except Washington state and New York State.

THE easiest mid-level fee, user friendly website to buy bitcoin from is www.xcoins.com they charge a very small transaction fee HOWEVER most, if not all, sites like this make their money of charging a % based on payment method. Xcoins.com charges 5% debit card / credit card. That's before buying bitcoin-so if you buy $100 on xcoins.com your debit card will be charged $105. 

****So if anyone is still struggling no matter what, the ease of use is:

1) ATM/Cashier's (search www.libertyx.com)

2) www.xcoins.com 

3) Cex.io or Kraken

BUT CHEAPEST:

1) Cex.io 

2) www.xcoins.com 

3) ATM/Cashiers (6-10%, each store and atm webpage will tell you)

My PSA....Download Blockchain Wallet as your external wallet (external because when you buy from xcoins.com, you'll have to copy and paste your wallet address, which I'll be doing in my Cex.io video also. Even if you use a exchange like Cex.io or Kraken, after transaction is complete, withdraw the coin from their app/site to your own personal wallet....which I'll also do) 

@Admin I'm assuming a video could be uploaded? Or would it have to be hosted elsewhere and linked here?

 

4361548F-49DB-4D34-BE2C-B6F0C5D61A5F.jpeg

Edited by Rippedmover
States
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Rippedmover

@Ron518 going to make this easy for ya bud, stick around....

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Korengal08

@Rippedmover I’ve been using cash app and just placed an order a couple hours ago but I’m definitely interested in new ways. I really appreciate you taking the time bro. 

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Ron518

I’ve searched the atm and do have a few local about 8%

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Ron518

Are the other like cex add cash then wait or is it instant?

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Rippedmover

@Ron518 use the atm for now. Download Blockchain app. Set up and click receive at the bottom. Copy that address that looks like xjdy64dvhu64dxy6in65rff (copy as in copy and paste). Select the atm location on the libertyx.com site. Go from there. I'm at work several more hours...

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