We really recommend storing any bitcoins you want to keep safe in a wallet you own. Many Bitcoin exchanges have been hacked and lost customer funds. Similar thing happened to me in Perth, Western Australia. Dude pulled a knife in a cafe and demanded my phone and to withdrawal all my bitcoins to him. The cafe owner saw this and called the police, who arrived in 2 minutes as he was going through my phone for bitcoin apps. These are extreme cases and most trades go through with no issue.
These warnings are aimed at people making in-person cash trades. It is simply a reminder to use common sense. You should always meet for your trades in a public place and even bring a friend or two. Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins. Following these basic principles should help you avoid theft, scams, and any other loss of funds:.
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Get Wallet Secure your coins. Start Mining Mining guides. This guide will help you buy bitcoins with no verification or ID. Get this: You can do this with cash or a credit card. Keep reading! Chapter 1 Introduction. Popular Exchanges. Coinbase High liquidity and buying limits Easy way for newcomers to get bitcoins "Instant Buy" option available with debit card. Coinmama Works in almost all countries Highest limits for buying bitcoins with a credit card Reliable and trusted broker.
We suggest using the exchanges listed below or doing research before buying from any exchange. Many exchanges are simply trying to steal your credit card information! Search by Location In the search box in the top left, type in the name of your country or city and click enter. How to Use ShapeShift Remember: With Shapeshift you need to have some other digital token in order to trade it for bitcoins.
You should then see a box on the right side where you can choose the coins for your trade: In this case ShapeShift auto-set the trade to be Bitcoin for Ether. The selection looks like this: In our case we have decided to trade some litecoins for bitcoins. So the screen on the main page should now look like this with Litecoin under "Deposit" and Bitcoin under "Receive" : So click "Continue" to proceed and you will see a screen like this: On the screen above you must enter the Bitcoin address that will receive the coins, along with the Litecoin refund address in case there is a problem with the transaction.
Once you enter both address click "Start Transaction". You will now see a screen like this: Now just send litecoins or whatever coin you are trading to the address displayed. Chapter 4 Frequently Asked Questions. I hope the following FAQ section will answer any of your remaining questions.
Pro Tip Do you want to buy larger amounts of bitcoins? Why do some people not want to buy if there is a need to upload an ID scan? Should I leave my bitcoins on the exchange after I buy? Chapter 5 Scam Warning. The guy apparently had a history of violent offenses and recently got sentenced for 4 years. For example, the exchange might charge you a percentage of the transaction amount to exchange dollars for bitcoin or other cryptocurrency.
Coinmama, for instance, trades in eight cryptocurrencies, including bitcoin. Your credit card issuer is likely to consider the crypto purchase a cash advance, as if you used your credit card to take money out of an ATM terminal. Cash advance fee. Higher interest rate. Many cards charge a higher annual percentage rate for cash advances than for regular purchases.
No grace period. Cash advances, though, start to accrue interest from day one. Lower credit limit. Some credit cards have a separate cash advance credit limit, which is lower than the overall credit limit. No credit card rewards. Again, it depends on the issuer of the card whether a cryptocurrency purchase is considered a cash advance. Foreign exchange fee. If the exchange is based outside the U.
Credit utilization. Making big crypto purchases uses up your available credit, a negative for your credit scores. Some credit cards offer crypto as a reward, or an option for rewards redemption. The options are expanding rapidly, but some early entrants to the market include:.
The SoFi Credit Card. The Brex Card. The Venmo Credit Card. The Gemini Credit Card.
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