Bitstamp now allows instant bitcoin purchase with Credit/Debit for US residents

**SBR Ivy** · 05-11-17, 08:52 AM

Great news! thanks for sharing your experience with us.

**jjgold** · 05-11-17, 09:28 AM

**Optional** · 05-11-17, 10:24 AM

Originally posted by DroopyDog

definitely good news, downside is looks like the fee is about 10%, but has very high limits.

Whats the limit Droopy?

**Russian Rocket** · 05-11-17, 10:28 AM

A 10% fee for an online purchase with your own charge card? Unreal!

It's probably good for someone who's really desperate....other than that-- no thanks.

**Optional** · 05-11-17, 10:31 AM

Originally posted by Russian Rocket

A 10% fee for an online purchase with your own charge card? Unreal!

It's probably good for someone who's really desperate....other than that-- no thanks.

That's comparable with other places selling instantly with a card. But agree it's too high to be useful to anyone apart from people who decide they only want to use bitcoin if they can have it right now with no ID required.

**Russian Rocket** · 05-11-17, 10:37 AM

Originally posted by Optional

That's comparable with other places selling instantly with a card. But agree it's too high to be useful to anyone apart from people who decide they only want to use bitcoin if they can have it right now with no ID required.

I mean I understand a 10% fee at a walk-in ATM (it cost money to rent space + various expenses related to supporting hardware), but here we're talking about a simple online interface, that no different, than what coinbase has in place. It actually looks a lot worse.

So I'm not exactly sure how one place can charge 10% while that other one charges only 3.99%.

**Jetsfan** · 05-11-17, 10:48 AM

Originally posted by Russian Rocket

I mean I understand a 10% fee at a walk-in ATM (it cost money to rent space + various expenses related to supporting hardware), but here we're talking about a simple online interface, that no different, than what coinbase has in place. It actually looks a lot worse.
So I'm not exactly sure how one place can charge 10% while that other one charges only 3.99%.

Do understand Coinbase also charges you 1.5% for a withdrawal (on top of a crappy price on way out) whereas Bitstamp will charge 0.09% (min $15).

But yeah why use card when Bitstamp only charges a 0.05% deposit fee by wire (min fee $7.5, max $300) and the funds gets there way faster than with Coinbase.

**Russian Rocket** · 05-11-17, 10:53 AM

Originally posted by Jetsfan

Do understand Coinbase also charges you 1.5% for a withdrawal (on top of a crappy price on way out) whereas Bitstamp will charge 0.09% (min $15).

yeah I get that, but what does it have anything to do with Bitstamp charging a 10% fee for an online charge card BUY?

**Optional** · 05-11-17, 10:55 AM

Originally posted by Russian Rocket

I mean I understand a 10% fee at a walk-in ATM (it cost money to rent space + various expenses related to supporting hardware), but here we're talking about a simple online interface, that no different, than what coinbase has in place. It actually looks a lot worse.

So I'm not exactly sure how one place can charge 10% while that other one charges only 3.99%.

Honestly, I think it is because they know a steady stream of people are going to try to use stolen cards when it comes to IDless bitcoin buys and that's what it costs. Not a good look imho. They should just require verified accounts and charge a regular fee.

**Russian Rocket** · 05-11-17, 10:59 AM

...

**Russian Rocket** · 05-11-17, 11:00 AM

Originally posted by Optional

Honestly, I think it is because they know a steady stream of people are going to try to use stolen cards when it comes to IDless bitcoin buys and that's what it costs. Not a good look imho. They should just require verified accounts and charge a regular fee.

yeah I totally agree

Are you 100% sure about the no-doc required policy? If so, that totally explains such an outrages processing fee.

**Optional** · 05-11-17, 11:03 AM

Originally posted by Russian Rocket

yeah I totally agree

Are you 100% sure about the no-doc required policy? If so, that totally explains such an outrages processing fee.

No not 100% sure but I'd expect so with that fee being in line with buy.bitcoin.com and coinmamma etc who offer it.

No one in their right mind would pay 10% as an ID verified buyer I dont think.

**Russian Rocket** · 05-11-17, 11:08 AM

Originally posted by Optional

No not 100% sure but I'd expect so with that fee being in line with buy.bitcoin.com and coinmamma etc who offer it.

No one in their right mind would pay 10% as an ID verified buyer I dont think.

right

**DroopyDog** · 05-12-17, 09:42 AM

Originally posted by Optional

Whats the limit Droopy?

5k/day
20k/month

**DroopyDog** · 05-12-17, 09:44 AM

In a pinch I'll pay 10% for no hassle bitcoins... if coinbase is no longer an option for you, you are gonna pay a minimum of 5% anywhere you go, even for cash purchases on LBC/Paxful/bitquick

**Optional** · 05-12-17, 09:47 AM

Originally posted by DroopyDog

5k/day
20k/month

That's a lot higher than others. Must be a bit risky for them.

Useful info though

**Optional** · 05-12-17, 09:49 AM

And if you do try it, please confirm if any ID or account registration is required for us?

**DroopyDog** · 05-12-17, 09:54 AM

Some verification is definitely required. I know email/phone definitely is, and I believe when you open a bitstamp account there is ID verification, I cant remember.

There also is a step in the buying process where they verify the card is yours....I believe by verifying a small charge, although I am not certain, I haven't tried it yet, but if/when I do, i'll definitely report back

**DroopyDog** · 05-12-17, 09:57 AM

$100 / €100	8%
$250 / €250	8%
$500 / €500	8%
$1000 / €1000	7%
$2500 / €2500	6%
$5000 / €5000	5%

**Optional** · 05-12-17, 09:57 AM

Originally posted by DroopyDog

Some verification is definitely required. I know email/phone definitely is, and I believe when you open a bitstamp account there is ID verification, I cant remember.

There also is a step in the buying process where they verify the card is yours....I believe by verifying a small charge, although I am not certain, I haven't tried it yet, but if/when I do, i'll definitely report back

I guess if you are in a screaming hurry the limits are good but honestly, I think the fee is a bit out of line if they are verifying card owners properly.

**Optional** · 05-12-17, 10:00 AM

Originally posted by DroopyDog

$100 / €100	8%
$250 / €250	8%
$500 / €500	8%
$1000 / €1000	7%
$2500 / €2500	6%
$5000 / €5000	5%

Well that's a lot better than 10%

Regular limits are around $1000 and cost 10%+ for insta buy services. 7% still more than a gambler should be accepting off the top as a cost but not stupid.

5% for 5 grand instant will be useful for some people for sure.

**DroopyDog** · 05-12-17, 10:01 AM

I really think 5-8% is reasonable... they are probably being charged 2-4% by ****/** to process.. so 2-4% mark up is pretty reasonable.

**BrickJames** · 05-12-17, 10:29 AM

This is excellent!

**ParlayKing1986** · 05-12-17, 10:44 AM

They use simplex as their processor who is the same one coinmama and buy.bitcoin use. Fee is high and also simplex only processes payments from 3 am to 5 pm est if im not mistaken. Fyi

**Optional** · 05-12-17, 10:49 AM

Originally posted by ParlayKing1986

They use simplex as their processor who is the same one coinmama and buy.bitcoin use. Fee is high and also simplex only processes payments from 3 am to 5 pm est if im not mistaken. Fyi

If that is correct there may be some restrictions on US states that can use it too then.

**temple2010** · 05-12-17, 12:37 PM

Good option to have if u need Bitcoin fast if you're trying to get a nice bonus -I'd pay the 8-10% for sure. Thanks for the info

**Russian Rocket** · 05-13-17, 08:19 AM

Originally posted by Optional

And if you do try it, please confirm if any ID or account registration is required for us?

I emailed them yesterday and it looks like you have to be fully verified before you can use the card:

**CaptainKorea** · 05-16-17, 11:07 AM

Bullshit place... signed up and ask me to change temporary password to permanent one.. does not recognize my temporary password so unable to change it to permanent password.. moved on to verify myself.. put all the info including ssn and all the pictures and everything.. won't let me click proceed to verify... site sucks and can't use it.