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How to pay with Bitcoin

How to pay with bitcoin

Basically Bitcoin is just like online cash (some see it as a currency others as commodity). You get it by converting your currency into BTC. You do that through Bitcoin exchangers. If this is new to you start by watching these two short explainer videos: http://youtu.be/Lhyi-7l046w and http://youtu.be/Gc2en3nHxA4

  • There are many ways of buying Bitcoins. A good place to start is coinatmradar.com where you can find local Bitcoin ATM machines in your area. For each ATM listing there is also the operators contact info. If the machine is far from you it might be a good idea to give the operator a call and ask about the requirements, limits, amount availability and fees before driving there. The ATMs will charge a fee which usually ranges between 2-6%. This is a price we currently have pay for freedom of uncensored transactions.
  • Another option is libertyx.com -an American service which makes buying bitcoins with cash simple. Use the website or app to locate a store near you that sells LibertyX codes (convertible to Bitcoin).
  • Probably the best long term option is to find (or create?) a local trading group where trusted people exchange bitcoin among each other. All it takes is a Whatsapp/Viber/Signal/Telegram or other chat app of choice where a group of local crypto enthusiasts posts offers to exchange when someone is in need.
  • Localbitcoins.com is also a good option - there you will find exchangers who offer to buy or sell bitcoin at current market price (+ or - their fee). Evey seller there has public history rating and reviews. You should buy only from people who have more than 30 previous transfers and 100% positive rating. The localbitcoins system keeps all BTC safely in escrow until both buyer and seller agree/confirm that the transfer is OK. You can find sellers in your area (or at least your country), they will accept all sorts of payment methods (bank wire transfer or even cash in person). Localbitcoin didn't use to force people to identify themselves, but nowadays it might be mandatory to register and provide a photo ID, phone number, etc.
  • You can also buy Bitcoin from big exchanges like gemini.com, bitstamp.net, coinbase.com, binance.com and more are listed here: http://bitcoinity.or/markets/list
  • The big exchanges will require you to identify yourself (upload a copy of your ID and utility bill) just like banks do. It might take a few days before you are able to buy/sell BTC with them.
  • Here is a list of several other places you can get Bitcoin from:
  • https://www.buybitcoinworldwide.com
  • There is also a fully decentralized exchange which can only be used through a downloadable application at https://bisq.io
  • This exchange might be difficult to get the hang of for novice users but on the plus side there is no ID required, it cannot be banned is not controlled by anyone while still being safe to use.
  • All bitcoin transactions are public, When you send BTC to someone's wallet, you can immediately (minutes) verify that the BTC has been received successfully. You can examine this feature on http://blockchain.info (put the wallet address into the search field and click enter).
  • Bitcoins can be stored in wallets installed on your local computer (see electrum.org) or mobile phone (there are many apps, see "mycelium bitcoin wallet") or it can be stored in various online wallets (every exchange has wallets, also blockchain.info is a good online wallet - no ID required). If you only plan to use Bitcoin to order from us, you don't need an extra wallet. You can simply keep the BTC on your localbitcoin.com account wallet until it's time to send it.
  • Every Bitcoin exchange displays the current BTC to USD (or EUR) price conversion rate. Also preev.com is a good info tool for this purpose.
  • Bitcoin can be a bit difficult for novices because the technology is still developing and also there are those large economic entities who will become obsolete once Bitcoin really takes off - they will do everything they can until they finally go away. You could compare that to how the internet was in the early 1990's. When you have time, I recommend you watch these 3 videos. I promise it will be time well spent. Watch them in this order so that the first one gets you interested and the 3rd explains the basics of Bitcoin and how it achieves what no money has been able to achieve in history:
  • https://www.youtube.com/watch?v=FyK4P7ZdOK8
  • https://www.youtube.com/watch?v=43Ucj6_Erb0
  • https://www.youtube.com/watch?v=UlKZ83REIkA
  • There are many more talks from this Bitcoin guru on his youtube channel
  • Also here is some further reading on how to maintain full anonymity while using crypto currencies like Bitcoin:
  • https://99bitcoins.com/buy-bitcoin/buy-bitcoin-anonymously-without-id/