BItcoin Limits and whats the reccommended wallet?

**raiders72001** · 02-11-16, 03:29 AM

Originally posted by QuangX

WHat the recommended bitcoin wallet.

ALso why is bitcoin instant limit only at $300?

Limits start off low and increase over time.

Blockchain.info is nice wallet. Bitcoin Justin recommends AirBitz as a mobile wallet.

**jjgold** · 02-12-16, 11:52 AM

Do wallets store in us dollars?

**Optional** · 02-12-16, 12:08 PM

Originally posted by jjgold

Do wallets store in us dollars?

When people are talking about the actual wallet itself, they generally mean where they store their bitcoin as bitcoin. Blockchain.info wallets only do this.

But services like Coinbase and Circle also give you a US$ wallet that you can switch your bitcoin into.

**Legions36** · 02-12-16, 12:15 PM

Originally posted by Optional

When people are talking about the actual wallet itself, they generally mean where they store their bitcoin as bitcoin. Blockchain.info wallets only do this.

But services like Coinbase and Circle also give you a US$ wallet that you can switch your bitcoin into.

If your willing to be a giving person use coinbase which charges a nice fee of 1% to put in your usd wallet and and nice 1% to take out of your usd wallet, damn crooks know whats up. Circle is only good if your willing to have low in and out limits from what i make of it.

**Optional** · 02-12-16, 12:26 PM

Originally posted by Legions36

If your willing to be a giving person use coinbase which charges a nice fee of 1% to put in your usd wallet and and nice 1% to take out of your usd wallet, damn crooks know whats up. Circle is only good if your willing to have low in and out limits from what i make of it.

Paypal charge around 2.5% above the spot exchange rate when converting mainstream currencies and more for obscure ones. So 1% probably isn't too bad when you take into account there is real fluctuation risk involved for them. Mainstream banks often charge retail customers more than 1% premium too. (although < 0.5% was the norm before widespread international retail shopping took hold)

**Legions36** · 02-12-16, 04:57 PM

Originally posted by Optional

Paypal charge around 2.5% above the spot exchange rate when converting mainstream currencies and more for obscure ones. So 1% probably isn't too bad when you take into account there is real fluctuation risk involved for them. Mainstream banks often charge retail customers more than 1% premium too. (although < 0.5% was the norm before widespread international retail shopping took hold)

Ok first off PayPal isn't even close to Bitcoin. We are talking about keeping $ in the system without putting it back to your bank. No reason to pay 2% just to leave some $ laying around at times in the Bitcoin system. Btce only charges .2% for fees. Coinbase really does suck.

**temple2010** · 02-12-16, 07:37 PM

So what do we do? Have block chain and then an intermediary like airbitz? So they don't know where the bitcoins are coming from and going to?

**Grivas_Digeni** · 02-12-16, 11:25 PM

Which wallet is usable on a really old computer? Think Win XP or Win7 running on hardware circa 2005

**Optional** · 02-13-16, 01:30 AM

Originally posted by Legions36

Ok first off PayPal isn't even close to Bitcoin. We are talking about keeping $ in the system without putting it back to your bank. No reason to pay 2% just to leave some $ laying around at times in the Bitcoin system. Btce only charges .2% for fees. Coinbase really does suck.

Not sure why you think its different. Paypal charge 2.5% to just 'keep it in the system' in a converted currency value. Exact same thing.

You do understand we are talking about currency conversion fees eh? Based on spot exchange rates that are different depending on where the institution chooses to look. Not any other sort of fee.

Regulation does come with some costs. And 1% is cheap compared to comparable options. You aren't ever going to get free along with safe. Bitching that Coinbase sucks based on that 1% fee is non-sensical.

**terribell** · 02-13-16, 10:24 AM

I heard that Walmart accepts bitcoin... Does anyone know if this is true? -- thanks in advance

**jazzyj7** · 02-13-16, 12:07 PM

circle is free if you use debit card. All the other sites charge like .5 or 1% on transactions.

**Legions36** · 02-13-16, 06:29 PM

Originally posted by Optional

Not sure why you think its different. Paypal charge 2.5% to just 'keep it in the system' in a converted currency value. Exact same thing.

You do understand we are talking about currency conversion fees eh? Based on spot exchange rates that are different depending on where the institution chooses to look. Not any other sort of fee.

Regulation does come with some costs. And 1% is cheap compared to comparable options. You aren't ever going to get free along with safe. Bitching that Coinbase sucks based on that 1% fee is non-sensical.

Then I guess your still stuck with people trying to tell u what to do like coinbase does. They r only good to get the initial coins u need, after that I don't want to pay $20 in fees just to keep $1000 there until I'm ready to use that money. Hopefully one day someone creates a fix that we don't have to deal with these fees.
Regulation, isn't the whole purpose of using Bitcoin between books is to stop regulation bs?

**Legions36** · 02-13-16, 06:31 PM

Originally posted by jazzyj7

circle is free if you use debit card. All the other sites charge like .5 or 1% on transactions.

These places start to ask to many questions if u use them to much. I try to avoid them as much as possible. The weekly limits at circle is a joke.

**Grivas_Digeni** · 02-16-16, 04:42 AM

Originally posted by Grivas_Digeni

Which wallet is usable on a really old computer? Think Win XP or Win7 running on hardware circa 2005

Anyone?

**raiders72001** · 02-16-16, 04:57 AM

Originally posted by Grivas_Digeni

Anyone?

I think blockchain.info will work although I'm not positive. All you need to do is enter a password to get an account so you can try.

**pabonaparte** · 02-16-16, 09:53 AM

Originally posted by Grivas_Digeni

Anyone?

Have you tried this?

Electrum's focus is speed and simplicity, with low resource usage. It uses remote servers that handle the most complicated parts of the Bitcoin system, and it allows you to recover your wallet from a secret phrase.

**QuangX** · 02-16-16, 10:32 AM

One thing I find annoying of coinbase or ciricle is the limits. or the wait time to puchase a bitcoin is like 4-7 days to clear....

**thespeculator** · 02-16-16, 03:00 PM

Local bitcoins any amount within a hour

**pabonaparte** · 03-15-16, 05:56 AM

Originally posted by QuangX

One thing I find annoying of coinbase or ciricle is the limits. or the wait time to puchase a bitcoin is like 4-7 days to clear....

How much fee do you pay? Is this the 'only pay the mnimum fee' or 'send for free if possible' by any chance?

I found that paying 8-9 cents in fees goes along way towards speeding up the process of sending bitcoin. No one works for free. Even computers lol

**HappyHounds** · 03-15-16, 08:52 AM

You ALL need so much more research on Bitcoin and I suggest you read my guide as well

**pabonaparte** · 03-15-16, 08:56 AM

Originally posted by HappyHounds

You ALL need so much more research on Bitcoin and I suggest you read my guide as well

I would gladly read it, HappyHounds! Could you point me in the right direction?

**Jliao4** · 03-17-16, 08:29 PM

I'd recommend Mycelium for Android. It's a lot easier to get your computer compromised than your phone especially if you're careful about not downloading any random bullshit apps. Better than online wallets like Coinbase and Blockchain.info because you retain full control over your money. I've heard that Coinbase sometimes suspends your account if they detect that you're sending your bitcoins to known gambling addresses.

**UBNVS** · 03-19-16, 11:38 AM

Is it pretty easy to sell Bitcoin on coin base? How long does it usually take to sell and then receive the money into your bank?

**theviking** · 03-19-16, 01:15 PM

I don know about coinbase, but if u use localbitcoin.com it takes only some hours to get your money in your bankaccount, and its very easy to sell, at least it has been that for me.

**UBNVS** · 03-19-16, 01:27 PM

Someone will buy right away on local bit coin?

**UBNVS** · 03-19-16, 01:43 PM

I will have to look. I'm not sure I know how to use that site.

**UBNVS** · 03-19-16, 01:55 PM

I have 2500 in my wallet I need out asap. Need for down payment on new car. My circle limit isn't high enough yet. Where can I go to get it out? I don't have a rating at local Bitcoin. Doubt anyone will buy them off me

**temple2010** · 03-19-16, 04:54 PM

Originally posted by UBNVS

I have 2500 in my wallet I need out asap. Need for down payment on new car. My circle limit isn't high enough yet. Where can I go to get it out? I don't have a rating at local Bitcoin. Doubt anyone will buy them off me

coinbase?

**UBNVS** · 03-19-16, 06:14 PM

Circle my limits are only 300 I just started. I can get coin base if that's what it will take.

**UBNVS** · 03-19-16, 06:15 PM

What are the steps for coin base

**theviking** · 03-19-16, 06:46 PM

Originally posted by UBNVS

I have 2500 in my wallet I need out asap. Need for down payment on new car. My circle limit isn't high enough yet. Where can I go to get it out? I don't have a rating at local Bitcoin. Doubt anyone will buy them off me

In localbitcoin you have to send your bitcon first, then u get dollars from the buyer, so it dosent matter much if u have rating, find a buyer that has 100% rate and lots of transactions and a good price, then you should be safe.
you can also transfere a small amount first, then more when u got more trust , send bigger amount

**big joe 1212** · 03-19-16, 07:27 PM

Send to your bank. If you sell today, it should hit your bank account Tuesday morning.

**UBNVS** · 03-19-16, 08:33 PM

Find one with any cash deposit. I love 30 mins outside of a city and don't have the big branch bank

**Rollins08** · 03-20-16, 09:09 AM

In the US can sending money to a bitcoin wallet raise any red flags at my bank? Has anybody heard of US banks having issues with bitcoin?