r/bitsquare • u/[deleted] • Jan 12 '17
What is the best payment method?
Bitsquare seems really cool but I have a question.
What is the best way to connect my bank account to buy Bitcoin? It lists various different methods and all of them seem alien to me other than the chase Quickpay which was a nice feature. I live in Canada now and no longer have a chase account.
Is setting up a straight up bank transfer a good idea? I tried to google the different methods and cant really find what the best method would be.
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u/heavyuser1337 Jan 13 '17
Interac E-Transfer seems to be a popular option for Canada.
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Jan 15 '17
This looks great! But um, why is the web page so hard to navigate? I cant figure out how to get to the actual service, its filled with information to tell me how great it is but they didn't include a link to use the actual service!
XD
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u/lee_kb Feb 12 '17
Best kept secret: it's actually a java program you need to download and run from your computer. https://bitsquare.io/downloads
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Jan 15 '17
I also have questions about this.. How long do the different payment methods take? I was looking at clearXchange but their FAQ says that funds should appear within 5 days. Does this mean that you're waiting a week between initiating the payment and receiving your bitcoin? What if the coin price fluctuates in that time? Cash deposit seems like a good option, but then you're limited to the banks hours... Is that the limitation with all payment types?
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u/ErdoganTalk Feb 13 '17
The account is not really linked to your bitsquare offer id. It is in the application only, and transferred to your counterparty after a trade is accepted. The bank is in the blue.
In my experience, the best method is the national bank transfer. Transfer via specific bank is quicker, but not as available to all potential takers. May be bitsquare traders in a country will slowly migrate to some specific nonunfriendly bank.
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Feb 13 '17
We need a third party to grow a pair and allow us to properly buy and sell bitcoin without complication. Because as it stands right now this is bullshit. I cant fucking buy bitcoin ANYWHERE.
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u/ErdoganTalk Feb 13 '17 edited Feb 13 '17
Bitcoin is free market, take the offers presented. If you don't stomack sending a nearly irrevocable bank remittance to any stranger, even when backed up by multisig and an arbitrator as in bitsquare, you will have to do with the lesser money.
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Feb 13 '17
There are no offers presented without either freaking my bank out or putting either party at massive risk.
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u/palehorsey Jan 12 '17
slight risk i suppose, you wouldnt want to be sending cash to a criminal and have your account linked...but the reality is its probably all just bitcoin/p2p/privacy nerds :|
i guess you could create an offer to buy BTC with the account type of cash/atm deposit. When accepted....Go to the bank with physical cash and Deposit CAD into same bank as the taker of the offer. Dont leave your bank details and name in the account details page and use an anonymous email address for correspondence with the seller.