hi folks,
i am planning to buy some bitcoins. although i ain't quite sure on reliable + cheap means to buy them particularly here in Australia.
does anyone here have experience (good / bad) with any local bitcoin exchange or bitcoin atms or even any other alternate currency and would like to share the pros and cons?
regards,
amey
it may have been misused in some cases but that does not mean the end of the world for bitcoins. its an awesome technology with loads of potential and great features. as a matter of fact, bitcoin transactions can be traced to great lengths as its pseudo-anonymous whereas cash transactions are rather hard to trace. so in theory, bitcoin or any crypto-currency offers greater security than cash. if anyone's is using it thinking its anonymous, one should do some research ;)
can't deny the risks when it comes to volatility but that goes with pretty much every currency. no one can guarantee what AUD - USD pair will fetch few years down the line. although with bitcoins there can be some additional risks on how its obtained (exchange) + stored (wallet services) and thatswhy was more keen to get some first-hand experiences with local exchange / sites on exchange / wallet services :)
cheers
amey
Coinjar, Poloniex for Ether
thanks mate. coinjar seems more popular and pretty much available in most major countries across the world. poloniex doesn't look quite popular and may not be the safest bait
do you have any experience with coinjar to share?
cheers,
amey
not really, it's really easy to use and you transfer money with either bpay or poli. if your looking at investing in cryptocurrency I would definitely look at ethereum, the best way to purchase it is buy bitcoin with coinjar and then transfer it to poloniex to buy ether
I would use 7 proxies and a VPN or you will get hacked.
btcmarkets.net
I have quite a few bitcoins stored in my blockchain. I don't use vpns and haven't been hacked yet.
have you looked at the details of their SSL certificate :) ? some of the fields on that certificate (like Issued to Common Name on General tab, Certificate Subject Alt Name on Details tab) seem quite interesting. wonder why single certificate covers multiple domains with different background. need some expert eyes to comment on details. my antivirus seem to be comfortable with it though :)
apparently, ABN / ACN listed on their site seems legitimate ones. so must be genuine. any first-hand experience to share like support/ after-sales service / processing time+fees etc?
Cointree, used it many times and they work gr8.
cheapest option is BTCMARKETS.NET but its only if you have time to trade AUD to BTC
Thanks. Will check it out.
Did you figure out what the best one is to buy bitcoin and also sell it back to aud? I'm curious, thanks.
btcmarkets.net
Took them less than 24 hours to verify me. I have over $1.5k on there and have had no issues.
well i did not buy any btc as yet. although i did check that https://www.trustpilot.com favours coinjar more over btcmarkets / cointree. sometimes cheapest option may not be the best especially when it comes to btc wallets. you need to take security, reliability and reasonable pricing strategy into account.
If you are not actively trading than storing your coins on any of these sites is a bad idea. Use whichever site you will, but if you are going to hodl, buy and move your coins off exchange into cold storage right away.
Thanks for your reply. I have to ask though, are you sure? Ive checked them a few times and btcmarkets seem to always be more expensive to buy in. For eg right now as I type btc markets is 3564/btc and cointree is 3491/btc, i have seen this alot lately so thats why i ask.
BTCmarkets has a thin order book, be careful buying at market if you plan to buy/sell +$1,000.
There's nothing reliable about the underground world of Bitcoins.