09-13-2018, 11:20 PM
Same here, coinbase does not work for me. I think you need to be a US Citizen because they require a valid SSN. Also if I remember correctly the bank verification process is onerous as hell.
Instead, I've been using (1) localbitcoin.com, a P2P network where buy/sell prices & USD amounts are set by individuals. People also set their required method of payment that you must follow. There's no crypto trading so its purely a buyer/seller platform
Alternatively, if you don't mind paying at least a 10% premium, (2) cex.io is a crypto exchange that allows you to buy, sell, trade, and importantly, withdraw crypto/fiat currency. You can trade cryptos here, safe in the knowledge that if your portfolio is turning to shit you can cash-out quickly. Most exchanges don't allow this, or they apply heavy restrictions on withdrawals.
The trade-off is Cost vs Convenience. Localbitcoin can be cheaper than even the market price; I recommend getting a Moneygram (#1 choice) or Western Union account b/c for some reason paying using these 2 methods nets you a cheaper price. Probably b/c it's safer than other payment methods. Your coins are held in escrow during each transaction, but after it's transferred to your localbitcoin wallet you're on your own unless its the market's fault (even then im not sure). Main Drawback is inconvenience- many sellers only accept cash unless you find a rare seller willing to sell BTC at a decent price using Zelle or Bank transfers. Stumping up sufficient cash to invest in cryptos or collect BTC is annoying.
cex.io pretty much operates as a secondary exchange. People can buy listed cryptos and exchange it for another coin, and you can liquidate into cash on short notice. If you're interested in trading cryptos, but don't want to commit an exorbitant deposit amount/ withdrawal restrictions, cex.io is for you. BUT, the drawback is higher cost. Unless it's very troublesome, I would buy my coins on localbitcoin or coinbase (if possible), then transfer it to my offline wallet before transferring it lastly into cex.io wallet. 10-15% upfront fees are rather high, and with added volatility of cryptocurrencies the personal cost could skyrocket.
Instead, I've been using (1) localbitcoin.com, a P2P network where buy/sell prices & USD amounts are set by individuals. People also set their required method of payment that you must follow. There's no crypto trading so its purely a buyer/seller platform
Alternatively, if you don't mind paying at least a 10% premium, (2) cex.io is a crypto exchange that allows you to buy, sell, trade, and importantly, withdraw crypto/fiat currency. You can trade cryptos here, safe in the knowledge that if your portfolio is turning to shit you can cash-out quickly. Most exchanges don't allow this, or they apply heavy restrictions on withdrawals.
The trade-off is Cost vs Convenience. Localbitcoin can be cheaper than even the market price; I recommend getting a Moneygram (#1 choice) or Western Union account b/c for some reason paying using these 2 methods nets you a cheaper price. Probably b/c it's safer than other payment methods. Your coins are held in escrow during each transaction, but after it's transferred to your localbitcoin wallet you're on your own unless its the market's fault (even then im not sure). Main Drawback is inconvenience- many sellers only accept cash unless you find a rare seller willing to sell BTC at a decent price using Zelle or Bank transfers. Stumping up sufficient cash to invest in cryptos or collect BTC is annoying.
cex.io pretty much operates as a secondary exchange. People can buy listed cryptos and exchange it for another coin, and you can liquidate into cash on short notice. If you're interested in trading cryptos, but don't want to commit an exorbitant deposit amount/ withdrawal restrictions, cex.io is for you. BUT, the drawback is higher cost. Unless it's very troublesome, I would buy my coins on localbitcoin or coinbase (if possible), then transfer it to my offline wallet before transferring it lastly into cex.io wallet. 10-15% upfront fees are rather high, and with added volatility of cryptocurrencies the personal cost could skyrocket.