This shit is prolly very simple and I'm overcomplicating it. I use coinbase to buy Bitcoin. However they have a weekly limit set where you can only purchase a very small fraction of coin. I need twice that amount. Is there any apps that don't have these limitations where I can purchase around say 4-500 usd of coin in a single transaction?
Thank you for anyone that answers!
Posted Jan 19, 2020, 3:02 AM UTC
When you "link" your bank account on Coinbase, ... a data harvesting company called Plaid (which is now owned by Visa) rifles through the last couple years of your bank transaction history. (This is not unique to Coinbase. I see Gemini, Abra and GiveBitcoin do this as well.)
"To link your bank account, we require your bank account login name and password." NEVER AGAIN
[Update: I've been informed Coinbase provides an opt-out method where you choose Other Bank and then just verify the amounts of two deposits they send to you.]
cash app
Is cash app pretty secure? GF said she had 300$ dissapear while sending money to her daughter the one and only time she used it.
maybe try kraken instead. cashapp is owned by the same guy who created twitter, so its generally trust worthy i think.
Ok awesome man thank you for your answers!
Kraken... easy..
If you are in the U.S., Cash App is probably the best substitute for Coinbase.
It too has a monthly limit that you possibly could hit.
Here's the thing though ... you aren't limited to having just one exchange. You can buy with Cash App, then if you hit your monthly limit, use Coinbase, or any half a dozen other similar exchanges (Kraken, BitSTAMP, etc.)
Having multiple exchanges is good because certain exchanges, like Coinbase, do chiananalysis and could freeze your account if they see that coins you withdrew eventually end up for things like online gambling/poker, dark markets, and more.
So better to move your trading so that it isn't reliant on any one (or two even) exchanges.
Are you using a U2F device on your coinbase account?
No? Hmm... did you know you that starting right this very moment, and completed before you are done reading this comment reply, a hacker could do a SIM porting attack, and steal all your funds from Coinbase (yes, even your USD ... by buying bitcoin with it and withdrawing the BTC)?
You would only know about it because the next time you go to use your phone you'll notice it has stopped working.
Yes, ... it's that easy for the thieves.
And that's not the only risk for your BTC even if Coinbase is an honest, competent exchange.
Gemini is great. I dumped coinbase a long time ago.
Geeze at all the info here! So best and most secure way would be a person 2 person transfer? I'm gonna have to read through all this as I'm still new to Bitcoin. I do want to do things safely though. Thank you all for your help. It's 2am and I'll return to this thread if I have anymore questions!
If you are looking to Buy bitcoin with fiat money, then the methods available will differ based on a few factors:
Here's a useful comparison of exchanges in which you can filter on payment method:
Otherwise, an in-person cash trade or an online trade using a P2P trading exchange may possibly be your next best option:
P2P Trading exchanges
Using gift cards, there is CardCoins for paying with a non-reloadable, prepaid GIFT card (VISA/Mastercard/AMEX/Discover), CryptoVoucher.io for paying with gift cards for numerous brands, Redeem, and BitOf for paying with Amazon UK gift cards).
First time buyers may like the convenience of an online store that sells bitcoin and accepts debit and/or credit card. I do not know which ones require ID verification/KYC beyond those marked as such. (e.g., Switchere [NO-KYC], Rebiton [NO-KYC], CoinCorner [💳] [NO-KYC when £900 or less], CEX.io, Coinify, Paybis, Jubiter, Bittylicious, BitIreland, Kuna.io Money, LiteBit.eu, Conio.com App, CryptoVoucher.io, GetSatoshi.org (⚡), Cash App and CoinMama). You can buy BTC on Cash App without ID but you won't be able to withdraw them until you are KYC verified.
There are physical locations where there are Bitcoin ATMs and other vending/voucher methods. For example, in the U.S. there is:
You can purchase online using a No-KYC online store, paying by depositing cash in a bank account or through Moneygram/Western Union:
There's always the friends and family methods. Someone you know probably holds bitcoin and would be willing to help you out by selling to you.
Credit card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
A credit card is different from a charge card, which requires the balance to be repaid in full each month. In contrast, credit cards allow the consumers to build a continuing balance of debt, subject to interest being charged.
^[ ^PM ^| ^Exclude ^me ^| ^Exclude ^from ^subreddit ^| ^FAQ ^/ ^Information ^| ^Source ^] ^Downvote ^to ^remove ^| ^v0.28