Suggestions for Bitcoin wallet provider

scrimshaw on 03/04/2016 - 22:00
Last edited 03/04/2016 - 22:01

I'm looking to start using Bitcoin as a method of providing payments and giving donations. The amounts I expect to transact are very small (no more than 0.05BTC) and the large numbers of providers are a little staggering.

I started with Coinbase only to find out that the buy/sell BTC function is blocked in australia, so they're useless for Aussie users.

I also have an existing BitGold account but they're a new-ish startup and I'm not sure if I can trust them

Cointree is an Australian based one but apparently their rates aren't that good…but the upside is I can apparently buy bitcoins at a westpac branch?

What I've also noticed is that none of the providers ever provide Paypal as a method of cashing out or depositing money in. Hmmm. Is it because it's too risky for the bitcoin seller?

Any pointers?

General Discussion

Comments

  • Janko on 03/04/2016 - 22:25

    I really can't comment on the quality or rates compared to other places, but localbitcoins has made it all pretty painless for the last 10 odd transactions I've done. You'll find a few supporting PayPal, but likely the rates will be worse or a good past history with the bitcoin vendor will be needed. I seem to recall buyers using PayPal claimed they didn't receive the bitcoins and did chargebacks, so vendors became wary.

    • shaybisc on 04/04/2016 - 08:49

      Which trader are you buying from at localbitcoins?

  • Thefiddler on 04/04/2016 - 10:33

    Ok i signed up purely to try and help you a little here. Becareful who you chose to buy bitcoins with as many a company has been there one day, closed the next taking with them peoples coins, desposits and transfers. Theres quit a bit of phising associated with it, so i suggest a 2fa.
    Now im not saying you're lying or anything but if its for nerfarious means make sure you tumble your coins. I use bit trade australia btradeaustralia.com but their commissions are high but they are very reputable. Only issue is the minimum purchase amount is $50. There's no wallet attached but the best wallets to have are from blockchain.info
    The btc market is very volatile. The value last year this time was around $260, by december it was $600. I've seen it rise by $100 plus in a few hours. The best way to check the current legitamisy of btc sellers/providers in aus is here http://comparebitcoins.net as it lets you know everything from commission, price they buy and sell for, options how to purchase etc, etc

  • furythree on 04/04/2016 - 11:52

    coinjar
    uk based but formerly australian

    no dramas with aus customers

    OK rates

    2FA supported. Even have an eftpos card

  • shaybisc on 04/04/2016 - 13:07

    After quite a bit of study of Bitcoin a while back I came to the conclusion it is much more of a hassle than it's worth. It isn't anonymous if you buy from an exchange for starters. It's more volatile than the Honduran peso so as a currency it's far from ideal I really can't see the point of it.

  • shaybisc on 09/04/2016 - 12:03

    Try https://btcmarkets.net/home

    They are the cheapest as long as you deposit by bank deposit- not POLI- $3.30 fee for that.

    • dingdong3000 on 17/07/2017 - 12:07

      How fast is it to get ID verified and how many ID stuff do you need to supply with BTC markets? It took me to its greenID verification system but it seems they need so much information. Want to minimise how much i should really supply

  • [Deactivated] on 09/04/2016 - 18:21

    I use coinjar to buy btc and electrum for my wallet

  • PeeDee on 07/11/2016 - 00:38

    Mate I'm on the same boat. Have $15 stuck in coinbase and don't know how to get it out or use it

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