So as the user experience with Coinbase is finally crumbling, customers and new crypto investors are looking for other options. Here are some of the horror stories from Coinbase customers:
https://www.trustnodes.com/2018/06/18/coinbase-many-horror-stories
https://www.coinbureau.com/news/whalepanda-threatens-sue-coinbase-missing-funds/
Anyways, if they can't provide good service to everyone then I think we should move on and look at other options. I know not everyone has had bad experience with Coinbase, but you might at some point. There are other promising exchanges coming out soon, but wouldn't it be better to just get your Bitcoin right away without any hassle?
Bitcoin ATMs-- These Bitcoin ATMs are becoming more popular across the U.S. and Europe mainly, and there are some Bitcoin ATMs in other countries as well. This website below shows the growth of Bitcoin ATMs around the world. Bitcoin ATMs allow you to easily deposit cash, enter your wallet address and your Bitcoins will automatically show up. I haven't tried it but it definitely seems like a good option to me. Search on google maps to find a Bitcoin ATM. https://coinatmradar.com/charts/#growth
Buy a pre-paid debit card, and then use your pre-paid card to buy Bitcoins through P2P exchanges like Local Bitcoins, but be careful as the scams here are very common. The Bitcoin Maven on Local Bitcoins was sentenced to a year in prison for scamming Bitcoin buyers. https://localbitcoins.com/
Use BitQuick- The seller will post the number of Bitcoins they plan on selling and for what price, and then to buy them you deposit the cash into the Bitcoin seller's account. Once the Bitcoins are in the seller's account the Bitcoin's will be released without the need for an ID just a phone. However, ID is required for larger transactions. https://www.bitquick.co/
Wall of Coins-- Is another P2P (peer to peer) exchange that allows you to buy Bitcoin without the need for verifying your ID. It does require a phone number though as well. https://wallofcoins.com/en/
There are plenty of more ways to buy Bitcoin privately and even more secure options, but as long as you stop using large centralized exchanges to buy your Bitcoins you'll probably be better off.
Please upvote & leave a comment below. Thanks!
I haven't had a problem with Coinbase myself, other than the fees before I went to the pro format... but that's not a service issue. I had a problem with Binance and my STEEM wallet in which I couldn't get an answer from their support team. I've opened a Bitrex account but have not funded it. I'd be interested in hearing anyone else's experiences with these or other exchanges. In any case, this is good info... Thanks!
I've used Coinbase, Binance and Bittrex for over a year and have never had a problem with any of them. My only beef with Binance is that they lock withdrawals for some coins to control the rate of transactions and as you saw for yourself, their support is lacking. Bittrex is solid. I've only had to contact them once and they resolved my problem quickly. My only disappointment with Bittrex is they don't have a trading app but their site is mobile friendly.
Very useful information. Thanks for sharing.
Just meet your local Bitcoin dealer in a dark alley and you'll be fine!
haha.. other countries are setting up bitcoin ATMs and in my country, govt asked the banks to stop dealing with companies(exchanges) who are involved with cryptocurrency...
Bitcoin without an ID is not good for the world.
what solution can you give.
Yet another powerful application of blockchain technology, particularly Ethereum. Building such a system for a huge industry like travel has the potential to completely revolutionize the entire trip-planning process, from booking flights to choosing where to have dinner that night. I love that Triip aims to give that power to the locals, allowing for a universal currency and rewards system that makes the process easier for everyone while taking the advantage away from larger institutions. Even just from the perspective of supporting small businesses, this is huge
BTC ATMs have huge fees. P2P services are often scams or heavily marked up. Selling Debit cards or amazon gift cards, after the mark ups and fees from the platform, leaves you purchasing BTC at much higher prices then with an exchange.
Aside from buying BTC direct from people you know, or using fake identities, there aren't a lot of efficient means to purchase BTC (from FIAT) without an ID.
Great post!
Bitcoin ATM's are great, they're all over Canada! Be sure to check the fees a well as the current cost of bitcoins on that specific ATM. It's typically listed online. I went to buy some coins when they dropped once and didn't check the price on the ATM I used - it hadn't updated (or been updated by the owner, not sure how it works) and I over paid for my coins.
Be Free everyone!
agreed, the id to buy kinda goes against what crypto is
Hi there @the4thmusketeer
And yet another interesting post :) Well writen and easy to read.
Continue up with creating interesting content - it may be hard at the beginning to build reach and solid followers base.
But Steemits needs solid content builders so just dont ever give up! :)
Already followed and upvoted :)
ps. coinbase can be frustrating :/
Yours,
Piotr
Thanks man, I have used Coinbase in the past myself and not had great experiences. I'm probably going to try and use a Bitcoin ATM because that seems like the best option--just load it up with cash and go. Thank you :)
Have you tried Changelly? The fees are somewhat high, but its an immediate option and you can use any mastercard or visa credit or debit card. The max amount per day is 20,000USD (fee included) in 2 separate transactions (10,000 USD fee included). I don't know about the KYC process, but believe that it only applies for bigger transactions.
*Separate comment - I believe that you should always post from where you are writing - I believe it's USA, just to let know your audience your regional experience, because what you post might not apply for other regions. - EX. We can't buy through coinbase but can receive and send transactions through the app - I'm in Mexico.
big thx for your prompt reply @the4thmusketeer
@the4thmusketeer nice information
What if there's one who use stolen credit card to buy bitcoin. Is there any counter measure to detect it if not using an ID to verify.
I don't think so, but at least banks still reimburse for fraud.
The reality is, whether it's a site that verifies IDs or not, if someone is going to steal your card to buy bitcoin, then they're going to steal your card to buy bitcoin. ID verification has never stopped anyone from committing a crime and your bank and law enforcement know this.
Damn, I was about to register on their site, it's a good thing I am someone that take a lot of time to make my mind up about everything.
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What is the problem of using ID to buy BTC?
Rage againts bank secrecy is something great that crytomarket and blockchain bring
In addition ID information is easy to find on Internet
In anyway...good post...Thank you for share!!
With Id any problem ?
Congratulations @the4thmusketeer!
Your post was mentioned in the Steemit Hit Parade in the following category:
Well, everyone should be careful when trying this, there is a lot of scam.
When considering BitQuick and Wall of Coins they need your phone number and unfortunately in some countries you have to register the phone number. So it's definitely not anonymous anymore since your phone number is directly related to your ID.
Yeah, that's true. Local bitcoins might be a better idea since they've been around longer, but you still gotta be careful and yeah phones can say who you are, if you didn't buy it anonymously.
Thanks. I plan to transition to off-grid accumulation. This is helpful to that end.
Buying without an id isnt that hard. Selling for cash or selling without an id is harder imo.
Great article, take a look at my new article including crypto market infographic and let me know your thoughts :)
Thanks for this!!
Thank you for this!!
With ID best
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Thanks for the article, this is relevant for Nth America and EU, but here in New Zealand we have a major crackdown on any use of money that does not go through the main banking systems, especially cash and crypto. I would very much like to encourage alternative banking business to consider NZ, there is a demand for such business. Due to the mass survailance here in NZ, posting this comment here is likely to prevent my crypto business from being approved with the banks, hence we need alternatives. Many people like me who run a crypto based business have had their bank acc's closed due to an over zealous self righteous banking system. I'd like to encourage crypto business to come to NZ and provide some alternative options.
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