Blockchain.info Wallet to start Buy/Sell for USA Users

**mrpapageorgio** · 01-21-18, 05:26 PM

Originally posted by Optional

Thanks to the poster who forwarded me this article

Blockchain cryptocurrency wallet launches bitcoin buy and sell in the US

Blockchain will be starting off with a bitcoin selling function, before adding a buy service and other cryptocurrencies too, CEO Peter Smith told CNBC
The cryptocurrency wallet is looking to challenge the likes of Coinbase in the U.S.

https://www.cnbc.com/2018/01/18/bloc...in-the-us.html

Very nice if you're withdrawing, but my question is does that still require an extra mining fee to sell to Blockchain or can they take it straight like an exchange?

**trytrytry** · 01-21-18, 10:06 PM

21 states listed only and you have to give all your info to them

**mrpapageorgio** · 01-21-18, 10:12 PM

Lot of people complaining on Twitter that they're adding all these features, but still haven't implemented SegWit to reduce the fees since people are saying they're contributing to the spamming of the Bitcoin network.

**bonzaii** · 01-22-18, 01:03 AM

We need to do away with Coinbase and banks. Wish there was some way to buy bitcoin without having to use your bank/card altogether. I know you can trade someone your cash for bitcoin, but I wish there was some public exchange setup so people could easily exchange there bitcoin for some other currency(USD) for someone who needs bitcoin and there be 0% fees tied to it.

**Optional** · 01-22-18, 01:36 AM

Originally posted by bonzaii

We need to do away with Coinbase and banks. Wish there was some way to buy bitcoin without having to use your bank/card altogether. I know you can trade someone your cash for bitcoin, but I wish there was some public exchange setup so people could easily exchange there bitcoin for some other currency(USD) for someone who needs bitcoin and there be 0% fees tied to it.

localbitcoins.com look like what you want?

**bonzaii** · 01-22-18, 02:18 AM

Originally posted by Optional

localbitcoins.com look like what you want?

Yeah I know about that, but I'm talking no fees at all, no profit or cut for a trade.

**mrpapageorgio** · 01-22-18, 03:06 AM

Originally posted by bonzaii

Yeah I know about that, but I'm talking no fees at all, no profit or cut for a trade.

So how does the exchange pay their bills then? Localbitcoins doesn't get free electricity or server use or internet bandwidth. What covers them in case of extreme volatility when their reserves cost $1,000,000 but the drop in Bitcoin currently has the value at $600,000?

**bonzaii** · 01-22-18, 04:00 AM

Originally posted by mrpapageorgio

So how does the exchange pay their bills then? Localbitcoins doesn't get free electricity or server use or internet bandwidth. What covers them in case of extreme volatility when their reserves cost $1,000,000 but the drop in Bitcoin currently has the value at $600,000?

Well obviously you have to cover costs, but what Im suggesting is just a platform for people to exchange bitcoin for fiat where people are doing trades because they need to and not just do a trade for someone because it will make you a little money.

Obviously you'd run into problems with people attempting to scam and it will probably only work for small trades but I like the idea of trading something that both parties want and don't have a to pay another fee on top of a transaction cost or go through an institution.

**Sobob99** · 01-22-18, 06:20 AM

Does this mean they are still a good intermediary when withdrawing from sites?

**Optional** · 01-22-18, 06:59 AM

Originally posted by Sobob99

Does this mean they are still a good intermediary when withdrawing from sites?

Not sure but probably will not be good for that ongoing.

I'm guessing it will only be accounts that choose to activate the feature who will need to provide ID.

But with accounts sending/receiving funds they are going to be subject to the same AML/KYC stuff and usage rules as Coinbase and Gemimi I'd assume.