Why is buying bitcoin so hard

We suggest using the exchanges listed below or doing research before buying from any exchange. We conduct intensive research on every exchange we list to filter out any and all dishonest exchanges. Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins. Login to your account and click «Buy» in the top menu bar. Want to buy on Coinbase? However, the credit card can increase the credit line if the exchange is considered as a purchase to enable you to spend more on Bitcoin exchange.

Stay Updated

By using our site, you acknowledge that you have read and understand our Cookie HadPrivacy Policyand our Terms of Service. Why is that? I think could be related to some chargeback protection, but if this is the case, is not possible for example to block the «withdraw» of BTC from the seller account for a few days buuying whatever is safe to avoid chargebacks? It is about the blockchain. A transaction goes in to a block and gets stacked on the blockchain.

Credit/Debit Card Bitcoin Exchanges

You may have stumbled across some articles lately that report that the value of Bitcoin has breached the 4, USD mark. Not surprisingly, this has lead to many Bitcoin or cryptocurrency-related forums exploding with activity, with those looking to get into the cryptocurrency scene asking veterans the ways to own bitcoins , so to speak. For a lot of people, the idea of purchasing Bitcoins is a bit out of reach. After all, a single Bitcoin costs way too much money than most could afford. While there is no denying that the actual act of mining for Bitcoins is easy, those who are actually looking to profit from mining Bitcoins will soon be met with one simple truth: mining Bitcoins is by far the hardest way to make a profit out of Bitcoin.

Buy Bitcoin in:

By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyand our Terms of Service. Why is that? I think could be related to some chargeback protection, but if this is the case, is not possible for example to block the «withdraw» of BTC from the seller account for a few days or whatever is safe to avoid chargebacks?

It is about the blockchain. A transaction goes in to a block and gets stacked on the blockchain. This process takes a lot of cryptographic processing power, which is done by miners.

This process becomes practically irreversible as more block go up the chain. So the power of bitcoin is its guarantee a transaction is becoming irreversible and definitive as the blockchain grows. This means, you buy Bitcoin it is yours. Yes, if it is still in the exchange they hold the private key to respend your BTC, but they won’t hold the lock forever. Chargeback is one thing. A stolen credit card. Credit card fraud is at large scales currently.

All this is putting a big administrative overhead on the exchanges. Users will have to do all sorts off verification to prove the credit card is really theirs. Also I believe, that withdrawal is restricted anyway, regardless of this fee. Home Questions Tags Users Unanswered. Why is so expensive to buy Bitcoin with Credit Card? Asked 6 months ago. Active 6 months ago. Viewed 68 times. Sorry if it’s duplicate but I couldn’t find the answer neiter here nor google :.

Enrique Enrique 1 1 silver badge 6 6 bronze badges. Tim Why is buying bitcoin so hard 4 4 bronze badges.

Where I’m from, you identify with a passport to the exchange and you sign the exchange receipt. In case you issue charge-back, the exchange will submit this as evidence it was actually you doing the buy and not some fraud.

Probably they even have surveillance camera’s. This is more difficult to prove when the exchange is online. Featured on Meta. Update: an agreement with Monica Cellio. Related Hot Network Questions. Bitcoin Stack Exchange works best with JavaScript enabled.

Summary of the Best Ways to Buy BTC with Skrill

Enter your Bitcoin Wallet Address The bitcoins will be sent here once your payment has been completed. Miners tend to include transactions with the highest fees attached anyone is free to set their own fees when making a transaction on the bitcoin network. Jean Miles. If you want to learn the best way to buy bitcoins, keep reading! Accessing Bitcoin address is crucial to Bitcoin transactions such as sending the BTC on peer-to-peer transactions in e-commerce, or why is buying bitcoin so hard exchanging the BTC for other cryptocurrencies or fiat money. More on that. I’ve never fallen victim to a single scam. PS: you can also check out our CoinMama review! This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Once you purchase the bitcoins you can convert why is buying bitcoin so hard bitcoins into other cryptocoins. If you want to store bitcoins, then a wallet is where you keep. If the limits aren’t high enough for me, can I buy bitcoins on multiple exchanges?