Fastest way to buy Ethereum using personal bank?

**Russian Rocket** · 05-27-17, 01:02 AM

Also keep in mind that all US banks will be closed on Monday the 29th due the holiday.

**senseionline** · 05-27-17, 01:11 AM

you can instant buy with credit or debit

why before may 31 any info you can share

**eidolon** · 05-27-17, 01:30 AM

I might have to do an in-person cash purchase.

**eidolon** · 05-27-17, 01:32 AM

Originally posted by senseionline

you can instant buy with credit or debit

why before may 31 any info you can share

Check back on the 30th and I will let you know

**sweethook** · 05-27-17, 01:34 AM

lot of up side still to go .. get lots

**Optional** · 05-27-17, 03:04 AM

Originally posted by eidolon

I might have to do an in-person cash purchase.

coinatmradar.com <-- to find a bitcoin ATM

**eidolon** · 05-27-17, 05:38 AM

Originally posted by Optional

coinatmradar.com <-- to find a bitcoin ATM

I looked into those, but there is like a 15% fee. Way too high; I don't want to pay a $500 fee.

**jjgold** · 05-27-17, 06:47 AM

why??

What is rush?

**triplecrown333** · 05-27-17, 07:54 AM

bitstamp will have ethereum and ltc in their porfolio i think, might be the reason op wants in...

**DroopyDog** · 05-27-17, 08:50 AM

I could sell you ETH but I do not know if it is allowed here ?

**Optional** · 05-27-17, 09:05 AM

Originally posted by DroopyDog

I could sell you ETH but I do not know if it is allowed here ?

Unfortunately not.

**MeanPeopleSuck** · 05-27-17, 09:13 AM

Originally posted by eidolon

So I don't have any BTC or ETH, but I want to make a purchase ASAP, and need to have the currency in ETH before May 31st.
What is the fastest way?
All I could find is that coinbase takes 5 days, which will be too late.
Suggestions?

If you want to do it without getting killed on the fees (since you nixed the ATM plan, I'm guessing other fast-but-expensive options like localbitcoins or coinmama probably also won't seem attractive to you), what I'd do is look into Bitstamp's new offering to buy BTC using credit/debit cards. I've never used it, so I don't know the details, but Bitstamp made a big to-do about this feature a couple weeks back. They're VERY proud of it.

There'd still be one problem: Bitstamp doesn't sell ETH yet -- that and LTC go live there next month -- so after you get your BTC, you'll want to withdraw it to Bitfinex or Poloniex or some other platform that sells ETH -- if it were me, I'd comparison shop prices for the best ETH to BTC price you can find -- to actually buy ETH with your BTC.

That may sound like a long and involved process, but it isn't. Once you have your BTC, you can move it to another platform and purchase ETH in an hour.

**arie1985** · 05-27-17, 02:59 PM

1) Buy bitcoins instantly using LocalBitcoins.com or other place.

2) Exchange your Bitcoins to ETH instantly without any hassles whatsoever via Changer.com

So simple, no need to provide the OP with so much bla bla bla.

PS I'm a person who likes to keep it simple (!!!)

**jjgold** · 05-27-17, 03:19 PM

Is Local Bitcoins a 3rd party wallet?

**MeanPeopleSuck** · 05-27-17, 03:33 PM

Originally posted by jjgold

Is Local Bitcoins a 3rd party wallet?

No, a website that does exactly what it sounds like: it hooks up local buyers and sellers of bitcoin.

You can buy and sell bitcoin instantly and anonymously, even for cash if you like, but at a premium.

**arie1985** · 05-27-17, 04:00 PM

Originally posted by MeanPeopleSuck

No, a website that does exactly what it sounds like: it hooks up local buyers and sellers of bitcoin.

You can buy and sell bitcoin instantly and anonymously, even for cash if you like, but at a premium.

Many people there sell for a very good rate, I normally use a UK bank transfer and the rates some people offer are extremely competitive.

**Russian Rocket** · 05-27-17, 05:07 PM

Originally posted by jjgold

Is Local Bitcoins a 3rd party wallet?

they do have a wallet functionality, among other things, that already got mentioned here

so if you want, you can use it just as a 3rd party wallet

think of that Coach as a Marketplace + Wallet

**jjgold** · 05-27-17, 05:15 PM

Sasha so I can send to 5 Dimes then?

If so does the wallet get shut down aka as coinbase

**Russian Rocket** · 05-27-17, 05:23 PM

Originally posted by jjgold

Sasha so I can send to 5 Dimes then?

If so does the wallet get shut down aka as coinbase

You can, but I wouldn't trust them with direct transfers to/from book for extended period of time, Coach.

Also, they've been hacked before, so it's probably a good idea to transfer your coins elsewhere as soon as you finish your Buy/Sell order.

**jjgold** · 05-27-17, 05:25 PM

Sasha here is my final bitcoin plan

3 Exchanges

Coinbase
Poloniex
Kracken

2 third parties for gambling

airbitz
blockchain

**Russian Rocket** · 05-27-17, 05:29 PM

It is an excellent place to trade though...just past week I had to get something on Amazon for myself, so I went on localbitcoins and bought $1,000 worth of Amazon giftcards. It took me 5 trades in total to exchange my coins for giftcards and my average trade was 60-65 cents on the dollar.

So I essentially bought a one thousand Amazon card for 650 bucks.

**Russian Rocket** · 05-27-17, 05:29 PM

Originally posted by jjgold

Sasha here is my final bitcoin plan

3 Exchanges

Coinbase
Poloniex
Kracken

2 third parties for gambling

airbitz
blockchain

looking good coach

**jjgold** · 05-27-17, 06:12 PM

Sasha what is cold storage ?

Do these places have it?

**Russian Rocket** · 05-27-17, 07:12 PM

Originally posted by jjgold

Sasha what is cold storage ?

Do these places have it?

It's a process for storing your BTC offline, Coach.

For example it could be a USB stick or a piece of hardware such as this: https://en.bitcoin.it/wiki/Hardware_wallet

Most of these exchanges like Coinbase have it and that's where they keep their bitcoin stashes.
Coinbase for example is a hosted wallet, so when you create your acct all you see on the front-end is your wallet addresses and they keep the private keys to individual wallets hidden. These private keys are kept in the cold storage along with your bitcoins.

If you wanna control your private keys at Coinbase, use their Multisig Vault https://www.coinbase.com/multisig#features

So basically the Cold Storage refers to the process of storing bitcoins offline, but the private keys associated with this process may be both off/online and could be exposed to the internet at some time during the generation of signing process.

So if you wanna take your security a step above Cold Storage, then you need to use a method called Deep Cold Storage. It a type of cold storage where not only are bitcoins stored offline, but also the system that holds the bitcoins were never online or connected to any kind of network.

The private keys associated with that system were generated in offline systems, and the signing process of the transactions is also made in offline systems. The systems used in this type of storage never touch the Internet; they are created offline, they are stored offline, and they are offline when signing transactions.

**jjgold** · 05-27-17, 07:31 PM

This whole Bitcoin thing pretty complex

Sasha I keep studying

Thanks 🙏

**Russian Rocket** · 05-27-17, 07:39 PM

It is, but the new technology makes it easy for someone new to follow it.

Good luck Coach and let me know if you need any help with that

**Dirty Sanchez** · 05-27-17, 08:47 PM

Ethereum, the bitcoin rival that has rallied 2,700%, is headed for a 38% correction, analyst says....

I don't invest in this stuff but wouldn't this be a huge Red Flag?

**eidolon** · 05-27-17, 08:50 PM

Originally posted by Dirty Sanchez

Ethereum, the bitcoin rival that has rallied 2,700%, is headed for a 38% correction, analyst says....

I don't invest in this stuff but wouldn't this be a huge Red Flag?

they already corrected the last 48 hours

Ethereum dropped from 220->130

**eidolon** · 05-27-17, 08:59 PM

I ended up calling the number on the local bitcoin-ATM machines (15% fee). They said they can do it for 10% over the counter (1st day of the month they do it at 5%). So I went ahead and got it from them. I was able to get it at 5% because I talked to them for a minute and gave them some information and because I was buying so much.

So I'm happy, lucky to.

**arie1985** · 05-28-17, 01:25 AM

Originally posted by eidolon

they already corrected the last 48 hours

Ethereum dropped from 220->130

It's now 170ish.

I personally believe 5-6 years from now it would be worth for sure more than $500 but nobody really knows.

I converted some $$$ to ETH, treating it as a "fixed deposit", not sure what the yield (%) would be but I assume it would be better than what the bank provides (taking the instability into consideration as well, leaving money in the bank is also instability nowadays).

**eidolon** · 05-28-17, 04:11 AM

Originally posted by arie1985

It's now 170ish.

I personally believe 5-6 years from now it would be worth for sure more than $500 but nobody really knows.

I converted some $$$ to ETH, treating it as a "fixed deposit", not sure what the yield (%) would be but I assume it would be better than what the bank provides (taking the instability into consideration as well, leaving money in the bank is also instability nowadays).

Ethereum isn't going anywhere soon.
I feel like bitcoin is Yahoo! and Ethereum is Google. Hold on tight.

**arie1985** · 05-28-17, 04:19 AM

Originally posted by eidolon

Ethereum isn't going anywhere soon.
I feel like bitcoin is Yahoo! and Ethereum is Google. Hold on tight.

Seconded.
I'm buying more ETH whenever I get a chance.
I'd rather keep some money in ETH than with the bank that gives me nothing in return.

**Optional** · 05-28-17, 04:26 AM

Originally posted by eidolon

I ended up calling the number on the local bitcoin-ATM machines (15% fee). They said they can do it for 10% over the counter (1st day of the month they do it at 5%). So I went ahead and got it from them. I was able to get it at 5% because I talked to them for a minute and gave them some information and because I was buying so much.

So I'm happy, lucky to.

Nice work.

5% great for that sort of service.

**kidcudi92** · 05-28-17, 04:37 AM

LTC thoughts? 🤔