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Jellopanda
2 hours ago, PTFC said:

Yes, you can buy, sell and spend fractions of bitcoins, and all in all, you will buy them from individuals if you use a bitcoin exchange. Once you get into it, it's very easy to do. There are many tutorials on the Web, I recommend members get clued up here,because we are going to see so much more of this payment method in the future.

It seems i'm going to get clued up as starlite seems to be just what i need and of the payment options he accepts bitcoin is the only one that works for me

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Jellopanda

I've read this thread and looking around on the webz and i thought the first thing i would to was install electrum. When i did it just won't start up tho and i don't know why.

Also i went to localbitcoins to look at prices and they were far higher than what was listed at currency exchange sites. currency exchange sites lists something like 600-620 USD for a bitcoin and sellers on locabitcoins often want 700 or more :/

for those purchasing bitcoins, what payment method do you prefer in order to aquire them?

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Jellopanda

When i installed electrum i just won't start up. Been combing through the net to find a solution, but to no avail. There's something called Blockchain, who claim they're the most popular bitcoin wallet on the web. anyone have any experience with them?

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Heavenlee

I have conbase and I did do a bitcoin transaction with @US_Vendorbut I can't even get on coin base, they keep telling me to go forward to put the two installations they deposited in amount one and amount two, problem is that I haven't been given any deposits, but every time I try to see what's gouging on with the app they have Taken $5.00 from me for I don't know what in just on day. I looked at my online banking which I do regularly now, its about time, and they took amounts 3 times for like $1.49, j1,00 and another $149.00 I have no idea why they are taking money out of my checking account when I can t even buy bitcons from them yet. Ive tried contacting them hopefully since it's ,omday I will get an answer, but I can't even call them I can't find their phone number anywhere it just lets you contact by email. I used xcoin iu I believe and @US_Vendor literally spent three hours working through the steps! Great vendor, but you will be shocked how much the fees are, I bought &150.00 worth of bitcoins and with all the taxes and fees it cost me 180.0 through PayPal. I know it's expensive but it's cheaper than the Mexican vendors sction, I paid a whole lot less for what I'm getting and I received a tn for delivery today. But I agree, I want to figure out coinbase works, why they are taking $5.00 from me because I was reading on Reddit that most people prefer coin base and electrum for their wallet. The way I used it was painless and easy with xcoin iu but the extra $30 sucks. We need a manual up here because I think and hope that bitcoins are the wave of the future. Especially since I'm flagged from mg and wu. I had to open an account of each with my sons name but I'm sure it won't last long I haven the had much luck with either lately! Good luck to all I feel so,old now just wrtimg this review on bitcoins, I'm so behind the future of things!

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PTFC

I use multibitHD as my private wallet to pay vendors , and transfer bitcoins that I have purchased to that from the bitcoin exchange sites own wallet. I have heard of electrum @Jellopanda, and believe it to be a good quality bitcoin wallet. 

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Jellopanda

I've spent the better part of the day researching wallets, finding one and configuring a browser-based Bitcoin-wallet called Blockchain.info, and making it as secure as possible. Now, as i'm new to this i've run into other problems, namely acquiring these coins. I've read through a number of guides, none of which answers my primary concerns. At the peril of pestering you all with inane questions, i'll chance asking a couple of them:

When buying bitcoins at LocalBitcions do i first hand them my money and then after they've received them i get my bitcoins? if that's the case it would provide ample opportunites for scammers who could just take your money and give you nothing in return.

I'd like to buy with paypal as i trust them and i like the idea of the fewer people who know my credit card details the better. problem there is that from what i could tell, bitcoins purchased with paypal was quite a bit more expensive than with other methods.

Would people like to share what their preferred methods of payment for bitcoins are and why.

Sorry to ask so many questions, but as of yesterday this was uncharted territory for me and i have read this thread thoroughly three times already and the other threads on bitcoins in addition to spending hours and hours reading about it on the web.

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Heavenlee

I used the one I talked about above, and it takes you to sellers of bitcoins and when you hit purchase it sends right to your wallet then I took it out of my wallet and put in his, he gave me his key, I did it through paypal making my payment. They were secure, you have to take a selfie with your picture id and a paper with xcoins on it, and you have to make a copy of your ID or drivers license. But the payment goes through PayPal which I felt comfortable using. Once my offer was accepted it says approved and they automatically go into your wallet. It was fast and seemed secure, I just don't like the $30 extra for fees. I am so frustrated at coinbase, I'd like to use them but I'm concerned that they took out $5.00 when I have never made it to even make a purchase and there is no phone number to contact them just email support which has been useless so far! If I find anything new I'll continue to update! Good luck @Jellopanda! ?????

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PTFC

All purchases I have made have by been bank transfer @Jellopanda. But a reputable exchange likely isn't going to have scammers and you will be protected. 

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Smoka90

Pretty much what @PTFC said. =) I use multibit as my wallet and I've never had a single problem with it. Bitcoin markets tend to be quite local, but a quick google search should find some good ones for you. Always try to look at the feedback/reputation score of the seller; a good market will have that system. If you don't see any feedback, I'd steer clear.

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Jellopanda

I believe i bought my first bitcoin! :D

I don't actually have the bitcoin yet, but i bought it from a guy on localbitcoins.com who seemed really trustworthy. His stats were 1000+ trades with 1216 different partners, 100% feedback score and trusted by 100+ people. ID, phone number and email verified.

Did a lot of research, read lots of guides, perused forums, and had chats with support people. was still quite nervous about the whole thing, but seems to have gone well :D

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Jellopanda

Whoa! received my bitcoin. There was some trouble with my bank for some reason and i was super-nervous since the money was gone from my account and i didn't have the bitcoin yet, and a whole bitcoin is quite expensive. Now i'm super-relieved tho! :D:D:D 

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JustChiilin
On 10/3/2016 at 11:11 AM, PTFC said:

I use multibitHD as my private wallet to pay vendors , and transfer bitcoins that I have purchased to that from the bitcoin exchange sites own wallet. I have heard of electrum @Jellopanda, and believe it to be a good quality bitcoin wallet. 

Same here..  Use coinbase to buy and transfer to multibit. I was suprised how easy it was to use

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Def_Starr

one of the new vendors i am dealing with recommended i use bitcoin, so i signed up for coinbase.com, but it requires me to upload an ID

 

is it safe to provided ID for these bitcoin sites that sell bitcoins? why do i need to show my ID

 

this vendor is legit but ran into issues recieving payment, because the account kept getting locked so either WU or Bitcoin

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PTFC
4 hours ago, Def_Starr said:

one of the new vendors i am dealing with recommended i use bitcoin, so i signed up for coinbase.com, but it requires me to upload an ID

 

is it safe to provided ID for these bitcoin sites that sell bitcoins? why do i need to show my ID

 

this vendor is legit but ran into issues recieving payment, because the account kept getting locked so either WU or Bitcoin to peru

It is gonna be the future @Def_Starr, I would get on it. Upload ID, you won't be using coinbase except to purchase the coins, you'll be using a private wallet to pay vendors etc.

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Conceited

  I hope more places start accepting bitcoin. There aren't many that suit my needs that accept it.  Currency inflation or deflation don't affect what a cion is worth does it? 

  

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