Silk Road forums

Discussion => Security => Topic started by: hfbc01 on July 17, 2011, 01:11 pm

Title: Buy Bitcoins with VISA
Post by: hfbc01 on July 17, 2011, 01:11 pm
Hello, I want to know if it's possible buy Bitcoins with a VISA card and where I can do this.

Thanks!
Title: Re: Buy Bitcoins with VISA
Post by: Kind Bud on July 17, 2011, 05:09 pm
no it is not (few rare exceptions)
bitcoin is like gold, credit cards can be faked, reversed, contested
no company wants to trade very secure bitcoins for insecure credit promises

You can buy Visa with bitcoin all day long
Title: Re: Buy Bitcoins with VISA
Post by: hfbc01 on July 17, 2011, 06:01 pm
So, I usually use my VISA card to make payment online, I know this time is different so I want to know how I can buy bitcoins, for example with paypal or something that I can associate with the card!

Thanks

EDIT: I've founded get-bitcoin.com, and in options there is PREPAID DEBIT CARD(2,5% Surcharge), is this site secure??
Title: Re: Buy Bitcoins with VISA
Post by: Kind Bud on July 17, 2011, 06:05 pm
Get bitcoin =
bank >Dwolla > bitcoin exchange
popular exchanges are MtGox (issues with tor) and TradeHill
also this is covered extensively elsewhere in this forum and online in general
Title: Re: Buy Bitcoins with VISA
Post by: hfbc01 on July 18, 2011, 09:16 pm
I know but I'm note from USA.
I've seen for CentreGold > Liberty Reserve > MtGox
But if I try to exchange 310 USD  the equivalent in LR USD became 251! How is that possible????
Please help me! I've only my VISA card to transfer money online!

Thanks
Title: Re: Buy Bitcoins with VISA
Post by: joeblow2 on July 18, 2011, 10:44 pm
I know but I'm note from USA.
I've seen for CentreGold > Liberty Reserve > MtGox
But if I try to exchange 310 USD  the equivalent in LR USD became 251! How is that possible????
Please help me! I've only my VISA card to transfer money online!

Thanks

I've had similar issues when using VISA while traveling in certain parts of Asia and Africa.  You are incurring a lot of fees is the basic problem.

VISA is taking your local currency, converting to USD (2.0-8.0% fee, depending on your home country).  Then that money is being converted to Liberty Reserve (I don't know their fees but I am sure they are high (5-10% probably).   Basically, you lost 20% on the transaction.  And you don't own any BTC yet!

You would be better to go to TradeHill or Mt. Gox websites and see about sending a money order or cashier's check in USD there. 
Not as secure as having so many intermediaries, but *wherever you are* the exchange rates are NOT favorable.
I'm pretty sure you will also have a 5% "cash advance" fee on your card when your statement arrives.

Your only two choices are A. lose 30%+ on every transaction or B. have less security by sending a USD denominated negotiable instrument to Mt. Gox or TradeHill. 
Title: Re: Buy Bitcoins with VISA
Post by: Raffael on July 19, 2011, 10:27 pm
Has anyone in here have experience with #bitcoin-otc?
Is it recommended?
Title: Re: Buy Bitcoins with VISA
Post by: salad on July 20, 2011, 10:55 am
There is a way to buy bitcoins with a Visa. Put the card you want to use in your pay pal account as a source to draw funds (you may already have one on there). Then get signed up at bitmarket.eu. Through this site you can still buy bitcoins with paypal. When doing this, just select that you want the funds to come from your credit card and not your bank account or whatever other form of payment you have saved there. I have actually done it a bunch of times. I think bitmarket.eu is the only one that you can still use paypal to buy bitcoins. Only one i know of at least. NOTE* You have to get confirmed to do trading at bitmarket.eu which can take a day or two but it is really easy.
Title: Re: Buy Bitcoins with VISA
Post by: btcfreedom on July 20, 2011, 03:49 pm
There is a way to buy bitcoins with a Visa. Put the card you want to use in your pay pal account as a source to draw funds (you may already have one on there). Then get signed up at bitmarket.eu. Through this site you can still buy bitcoins with paypal. When doing this, just select that you want the funds to come from your credit card and not your bank account or whatever other form of payment you have saved there. I have actually done it a bunch of times. I think bitmarket.eu is the only one that you can still use paypal to buy bitcoins. Only one i know of at least. NOTE* You have to get confirmed to do trading at bitmarket.eu which can take a day or two but it is really easy.

Did you try this yourself?

PayPal banned the use of transactions for bitcoins months ago.
Title: Re: Buy Bitcoins with VISA
Post by: CaptainSensible on July 20, 2011, 05:06 pm
There is a way to buy bitcoins with a Visa. Put the card you want to use in your pay pal account as a source to draw funds (you may already have one on there). Then get signed up at bitmarket.eu. Through this site you can still buy bitcoins with paypal. When doing this, just select that you want the funds to come from your credit card and not your bank account or whatever other form of payment you have saved there. I have actually done it a bunch of times. I think bitmarket.eu is the only one that you can still use paypal to buy bitcoins. Only one i know of at least. NOTE* You have to get confirmed to do trading at bitmarket.eu which can take a day or two but it is really easy.

Yeah, salad has it right.  Open a PayPal account, and link your credit/debit card to it. Then get approved for a Bitmarket.eu account.  Not all sellers accept Paypal, but many do.  Once approved, buy some bitcoins, after which you'll get instructions from the seller to chose the "Send Money" option on PayPal.  All you need is the seller's email address to send funds.  There's no need to mention bitcoins in the PayPal transaction (I seem to remember you select something like the "Services Rendered" or "Send Funds To" option).

Anyway, it's worked for me.
Title: Re: Buy Bitcoins with VISA
Post by: btcfreedom on July 20, 2011, 05:08 pm
I wouldn't trust PayPal with anything having to do with BTC. That's where big LE would look for an ethical way in...

How long before they realize this is a BTC site and all of the sudden you can't do it. Few hours?
Title: Re: Buy Bitcoins with VISA
Post by: salad on July 20, 2011, 07:29 pm
Like I said I have done it before, shit I just did it the other day. There is nothing illegal about buying bitcoins. Most people buy using their bank account so I am not sure what you are getting at btcfreedom.

also @btcfreedom, when you pay with paypal on bitmarket.eu you just send the seller the money as a personal gift or select (other). That way it just looks like a transaction between 2 people, there is no mention of bitcoins anywhere in the paypal transaction. This is how they say to do it on bitmarket's website. I have probably bought bitcoins a dozen times with paypal and have never had a problem. IF people are interested in getting bitcoins this way it is definitely worth getting confirmed on bitmarkets site and doing what I described. The prices at bitmarket are usually a little higher then say tradehill or anywhere else but there is also no fee. The site is completely run on donations which I think is pretty cool.
Title: Re: Buy Bitcoins with VISA
Post by: btcfreedom on July 20, 2011, 07:56 pm
There is nothing illegal about buying bitcoins. Most people buy using their bank account so I am not sure what you are getting at btcfreedom.

also @btcfreedom, when you pay with paypal on bitmarket.eu you just send the seller the money as a personal gift or select (other). That way it just looks like a transaction between 2 people, there is no mention of bitcoins anywhere in the paypal transaction. This is how they say to do it on bitmarket's website.

people do not use their bank account that often due to anonymity concerns - a majority of them use Dwolla.com for transactions to add a layer of "bullshit". you can fake your name on a Dwolla account, but you can't fake your name on a bank account, and you can't fake your name on a PayPal account.

Dwolla came about because of the complaints against PayPal for fees and them banning bitcoin transactions. i'm just stating the facts. protecting you my man :)


that is a cool idea. I truly do hope it lasts for them, but I wouldn't use PayPal as the mediator ever. They can eat a bowl of hot dicks.
Title: Re: Buy Bitcoins with VISA
Post by: barbasolshavingcreamcan on July 20, 2011, 08:10 pm
Virwox accepts Paypal payments, which should be able to be made from a Visa card. You can then buy SLL, and trade those for BTC. I'm not saying this is an efficient way to get BTC (I assume the fees you'd get hit with along the way would be a bit painful) but it is an option for quickly getting BTC from PayPal.
Title: Re: Buy Bitcoins with VISA
Post by: OneOfMany on July 21, 2011, 02:58 am
EDIT: I've founded get-bitcoin.com, and in options there is PREPAID DEBIT CARD(2,5% Surcharge), is this site secure??
I notice that if you read the fine print (FAQ actually) it says you would have to physically mail them the card. So essentially you'd be using like a money order. Not sure I see the point.

That site never the less, that site looks somewhat promising.
Title: Re: Buy Bitcoins with VISA
Post by: max1259 on July 23, 2011, 05:01 am
If your in the UK mate try out Britcoin.com cos that's a really easy way to get them,basically just make a tranfer online from your bank to them and once they have your money they buy the BC's for you.
 Otherwise Bitmarket.Eu is the other one i use,another one where you can choose your payment,bank transfer's,International Wires,WU and you can even use paypal. You also set the price you wanna buy at,there's a few people on wanting to buy BC's for like $4 lol,good luck to them  ::)
Title: Re: Buy Bitcoins with VISA
Post by: Getliquid on July 24, 2011, 06:49 am
You can use visa to send Western Union or Money Gram to get bitcoins. Bitcoinbux and Bitcoinexchange are two sites I've used that method and it worked pretty quick. Fees are something like 6% plus you have to cover the WU/MG fees which sucks but that's the only realiable way to use a credit card. I guess you could use CC through paypal on virwox but that also has high fees and 48 hour turnaround time
Title: Re: Buy Bitcoins with VISA
Post by: happytree on July 24, 2011, 04:57 pm
--Yes, you can buy bitcoins from sellers on Ebay. And when it asks you to pay, you can pay with Paypal or it gives you the option to pay outside of Paypal and use a credit card (visa). While they're one or sometimes .5 btc at a time, it's fast and convenient. Even though Ebay has your personal information, once you ask the seller to send your bitcoin to someplace like a Mt Gox BTC address, or a personal e-wallet, and then on to SR (all of those without requiring real names, the trace is pretty undetectable).

--Paypal has NOT banned sale of bitcoins.

--It's not illegal to buy/sell bitcoins so LE aren't going to be looking at PayPal for Bitcoin transactions. Thousands of companies use Bitcoins in transactions. LEs (at least the rumors are) look at PayPal for reocurring,  high dollar transactions between private buyers (send money to so-and-so that isn't related to Ebay, and you call it a "gift" or some shit).