Thoughts on Bitcoin as payment?

[Mr. HIND]

Every single time I have tried it never seems to work. Haha that could be a user issue here. I just did not take the time to figure it out. A blacklisted vendor wanted me to try it. A very famous blacklisted vendor and every name I was given would not go thru. So I have not tried it since.

in cryptocurrency transfers addresses are used. No 'names'

Here's a hypothetical wallet address: 14u8mYiiXzx7cF4EweyWVF4gkFrEsx61Mc

If a seller is requesting payment by Bitcoin they will email you their wallet address, like the example above. From there you log into your wallet, enter the sellers wallet # (Copy n paste) then transfer the appropriate funds from your wallet to theirs.

Coinbase does have a waiting period before the funds can be transferred to another wallet which is a little over two weeks.  You can trade the bitcoins right away, but you have to wait to transfer them.

I haven't used them lately but never experienced a waiting period of weeks. Usually 3 to 5 business days to transfer funds from bank to wallet. like any ACH bank transfer.

Wallet to wallet should take minutes or maybe hours depending on blockchain priority.

Weeks wont work for most users so not sure what the issue is there. Maybe your bank? Def. check it out because transfers shouldn't take that long. Much suffering in the process....

MH

[Leesus83]

Think I'm going to take the plunge and buy some Bitcoin. Will be so much easier compared to going to WU or MG stores.

Just been a little apprehensive about how complicated it would be but it actually sounds rather simple!

[barq2]

Think I'm going to take the plunge and buy some Bitcoin. Will be so much easier compared to going to WU or MG stores.

I agree about it being easier than WU/MG. I get the impression they are used more commonly in the USA than UK. On my side of the Atlantic they are mainly used my immigrant workers sending money home. I arouse a lot of suspicion since I don't fit that demographic at all. 

Good luck with Bitcoin. Just remember that any transfer takes a bit of time for the transaction to be confirmed. The amount of time is variable, so that's the bit that tends to make people a bit nervous, but it is totally normal.

[Leesus83]

Think I'm going to take the plunge and buy some Bitcoin. Will be so much easier compared to going to this and that stores.

I agree about it being easier than this and that. I get the impression they are used more commonly in the USA than UK. On my side of the Atlantic they are mainly used my immigrant workers sending money home. I arouse a lot of suspicion since I don't fit that demographic at all. 

Good luck with Bitcoin. Just remember that any transfer takes a bit of time for the transaction to be confirmed. The amount of time is variable, so that's the bit that tends to make people a bit nervous, but it is totally normal.

Thank you for the advice.

I know exactly what you mean about sending payments at this and that stores arousing suspicion. I've been known to stand at the counter with the odd bead of sweat on my brow whilst waiting for confirmation that everything is ok!

[Leesus83]

Would people recommend Coinbase for a Bitcoin newbie? Seems to be the most popular platform to buy/sell but I've heard other ones recommended here. Are they essentially the same?

[killingstress]

Would people recommend Coinbase for a Bitcoin newbie? Seems to be the most popular platform to buy/sell but I've heard other ones recommended here. Are they essentially the same?

Stay away from them, from Xapo, etc. At the end, they are like PayPal, they can froze your money, delay the payment you want to do, ask to many question, etc. 
Check for wallets that you can install on your computer, that is really privacy. You don't need this PayPal wanna be.  Use localbitcoins or similar to buy them, you also have ATM that sell bitcoins in many states  ( you can google them, there is a site where you can locate each one of them ) .

[carn7]

I used Coinbase for a couple of transactions, but now I live outside the US and they won't let me transact without ID verification... but they don't take passports, just driver ID. So not very useful anymore.

[L1V3M0UZ]

My go-to is usually localbitcoins.com

Tons of people to choose from based on how you want to pay/their rates

[quickfix]

Bitcoin is becoming more and more popular, I noticed my local grocers has been advertising right at the entrance buy bitcoins with cash lol might give them a try soon if there exchange rate is good

[Bubba Gamps]

With all of the limits and or restrictions this and that have put in place lately, Bitcoin is becoming the "go to" way to transfer money. I get a little nervous when sending payment by Bitcoin until the receiver confirms they have received the funds. No names are used when sending money, just there receivers wallet address. It was difficult for me to understand the concept at first, but it's like anything else, you need to do a lot of research before you take the plunge.