OKPay suspends Bitcoin processing - CoinDesk

How to buy these cheap coins right now

Since we've all been goxxed now is the time to buy those $50-60 coins floating around and profit from everybody else's misery. Or you could wait for Gox to come back online and crash down the price even further but good luck trying to do any trading there to buy coins, the trading engine is already broken I don't expect the new one to work flawlessly due to epic 3yr history of GOXXING
To pay into this exchange, you need a BTC-E code, PM or Okpay. Take pics of your ID and utility bill and pay the $10 to Okpay for 'quick verification'. You can pay bitcoins directly into your Okpay account for initial funding or wait and see how long it takes for reg verification.
Now either wire money, or instant money transfer (MoneyPolo, Contact-sys, Unistream) to fund your account or find an Okpay exchanger somewhere. Or Ukash/CashU. Just because contact-sys is Russian doesn't mean there aren't sending points in every country in the world.
BTC-E codes you buy on #bitcoin-otc from verified gpg authenticated traders with good ratings, or on bitcointalk.org forums in the currency exchange forums.
Perfect Money is a shady HYIP digital currency run by Russians much like Liberty Reserve. You sign up for free, and load your account with wires (if verified) or you use an exchanger. This is what talkgold.com is for to find legit exchangers. I use wm-center.com to wire WU/Moneygram and get PM. Click on 'Interkassa' payment method in BTC-E and select Perfect Money. Instant load.
You can also obviously dump Litecoins you bought on Vircurex to fund the account, or a gagillion PPcoins
Fastest way to deposit is through CapitalOne P2P or cash deposit https://bitfloor.com/docs/#funding-deposit
Be aware Bitfloor is insolvent due to owing 25k bitcoins that were stolen last year but they have a repayment schedule that may or may not bankrupt them. Use at own risk but most ppl trade there everyday with no problems.
Great exchange in Slovakia? I think. You have to pay with Euro SEPA wire, then for some stupid reason they convert the money to USD. You can pay in here using transferwise.com if you're from UK, or XEtrade and other Forex online money transfer companies. Google 'free money transfer fx' and review your options. Most don't charge you anything if over a certain amount of money. They take your internet billing or other local payment, convert to EUR and send SEPA for you if you request it. If they don't then check with Bitstamp what a SWIFT wire costs (probably nothing, I think they use Latvian banks that charge no receiving fees). If you want a bank account in Latvia then sign up here: http://www.rietumu.com/ if you have a local corporation or business where you live you can, maybe a personal account too. You can always incorporate a dirt cheap Delaware LLC or Oregon LLC from anywhere in the world and use it to open up worldwide bank accounts.
Takes direct wires, all sorts of other methods: https://bitcoin-24.com/fees You can also use Liqpay if you have a USD or EUR card. Sign up to liqpay.com, then they block a small verification amount you have to sign into internet banking (for the card) to check. It's usually $1.something or less. After that you are verified to load $1-100 or so, but I'd just try $50 at first. Any more than that and Liqpay will seize the funds and ask for your bank to authorize a fax they send which no bank will do because of privacy reasons, so pointless to load anymore money. Liqpay may also call you to verify card details this is normal. Liqpay is meant for Russians and CIS countries to use like Ukraine so due to epic fraud of credit cards don't expect to load too much this way unless you find a Liqpay exchanger, but what's the point when you can just wire money to bitcoin-24 anyways.
Good exchange, had some problems due to DDoS but so did all exchanges. They only accept BTC, altcoins and VouchX for payment. You buy Vouchx here: https://www.aurumxchange.com/ or from somebody on Bitcointalk, or IRC (with rep). You can buy a bunch of litecoins anywhere to fund this exchange such as the bitcointalk forums or IRC. Warning: the so-called official twitter account is fake, don't use it.
Can only fund if in Canada, they accept cash deposit and internet billing. Price has been steady at ~$90 all day though no panic selling.
https://www.libertybit.com/funding various easy methods, new exchange in Canada that takes intl wires and shockingly Interac deposits (easily frauded).
Bitcoin China
https://btcchina.com/ fast growing exchange, you pay in with Alipay or Tenpay both Chinese methods that westerners can't use or figure out due to no translation. You can probably use Alipay if you find and exchanger to load it, they do exist. **Edit they now support Liberty Reserve deposit and withdrawal
Check english forums to see if anybody exchanging Alipay or taking wires.
Accepts money orders, and CapitalOne P2P payments. Also accepts Dwolla but you need to be verified.
Just had a major outage due to instawallet hack, appears to be back online. You get your own quasi-bank account when you verify here much like how ecardone.com (liberty reserve) does banking so can transfer to other users legally with vouchers. You can buy a voucher p2p on Bitcointalk forums or IRC or send a bankwire.
You can pay with Paypal to get Second Life "Linden Dollars" then convert to BTC, or at least you used to be able to. I have no idea if this is still the case I've never used them.
Or course there's all the fixed price exchangers
https://en.bitcoin.it/wiki/Trade and https://bitcointalk.org/index.php?board=53.0 for everything from Moneypak to Skrill. You can also risk buying coins on Silk Road with moneypak
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Enjoy buying all the way down the crash once Gox comes back online and the great sell off begins! Hold them for a year and they'll be worth 10x as much just like the 2011 crash. Bonus points if you speculate on Litecoin, rumor has it Gox will be trading them when they come back online but again, this is MtGox we are talking about so the site could implode on the zerg rush of people trying to get into their accounts or trading engine could sell all your coins for $0.0001 again like they did in 2011.
Great successez!
submitted by Derpcoin to Bitcoin [link] [comments]

My tale of unsuccessfully obtaining some Bitcoin

So I'm trying to get a small amount of Bitcoin to complete a purchase but everywhere I turn I run into problems.
Initially very promising, slick website, built in escrow system, lots of people selling in my local currency.
Outcome: people charging outrageous prices, minimum purchase amounts and in no way convenient. To get the best rates I need to purchase at least double what I want, go into a physical bank and make a cash deposit over the counter or go meet some random person. Reminds me of the bad old days of eBay before Paypal where scams were everywhere. Pass.
Logged in, despite sending my verification details a month ago my account is still not verified and I'm stuffed. Noticed the exchange rate is getting low too.
Initially also promising as a lot of people seem to use it here on /bitcoin. Sadly has the same type of verification process as MtGox that could take any amount of time and all the payment methods to get funds in are covered in warnings such as:
"In accordance with AML policy and requirements of W1 payment system, subsequent transfer of the funds to e-currency exchangers are prohibited. In case of non compliance with the policy account may be blocked until further investigation."
"ATTENTION: Due to the card issuer bank restrictions it is prohibited to pay for the OKPAY Card order and top-up by using the funds received from crypto-currency deposit or exchange."
Yeah that's not really filling me with confidence.
Hey this looks slick at least and they verify fairly quickly into an account that I can do stuff with. Their recent VC also gives me confidence. But to get funds in I have to link a bank account. Okay but I'm not one to trust my main savings account to such an activity which means I'll have to go down to my bank and open a new account up. Convenience factor just went way down and I'm not going to achieve my goal today with Coinbase.
So I stumbled upon a few websites:
Most of this information is either inaccurate or the websites they list have scam written all over them. Combine that will all the recent posts about scams, failed transfers, banks cracking down etc and I have to wonder why anyone bothers with cryptocurrencies aside from the recent hype.
The goal by the way was to purchase a game off someone. A transaction I can complete right now with any game shop dealing with USD in minutes. Two hours later and I'm still no closer to changing my cash into Bitcoin to make the transaction :(
I get why those who believe in Bitcoin do so, in many ways it reminds me of the Open Source/Free Software movement and if they do achieve their goals one day the world will be a better place. But the machine is never going to let this stuff fly beyond that of a hobby and I'm certain we are going to see tails of people getting seriously burnt in the next few months when the hype dies down and the man cracks down.
Can anyone point me to a serious, legitimate and convenient service to obtain Bitcoin that does not run a risk of simply losing my money without recourse before I get Bitcoin in my wallet? Something better then raise a ticket that may/may not get looked at anytime soon and may/may not result in a refund. All I seem to run into are scams and doom/gloom.
Edit: for those wondering, I'm outside the US. A large part of the problem seems to be the verification process, the reasonably (market) priced services all require verification and all have taken or take far to long to verify. The amount of info required is also concerning, I understand why they need it however the average joe who has heard about internet scams is very likely to be put off because of it.
What I believe is needed is a service not unlike Paypal. Fast and efficient, minimal info required, instant gratification and no need to get off my ass. I personally don't see the difference between spending a couple of hundred dollars online via Paypal vs any of these services despite how dodgy some of them appear.
submitted by brokenskill to Bitcoin [link] [comments]

Can't fund MtGox with OKPay, what remaining options are there from UK?

Sigh. I've just found out I can't fund MtGox with OKPay anymore (I buy monthly, last bought before the crash, before this). So what remaining options are there? (I'm buying with GBP, prefer bank xfer if poss).
submitted by marcoski711 to Bitcoin [link] [comments]

Extracing USD from MtGox

So, now that MtGox's Dwolla account has been shut down (right after I got verified by MtGox and set up a Dwolla account), what is the best way to get USD out of MtGox to a US bank account? The options I see are direct international bank transfer, OKPAY, or buying Bitcoins again, sending them to another exchange, and selling them there, at which point the question becomes what the best way to get USD out of that exchange are.
The bank transfer costs ¥2000 (~$20). It sounds like it may take a week or more to go through (they are a little vague in the MtGox FAQ about this). On top of this, I need to do it in a few batches, since it's more than $1000 that I'm transferring out; so that's $20 per $1000 batch, or about 2% in fees.
I've tried browsing OKPAY's website, and I'm pretty confused, because it seems like there are lots of different options and varying fees. I could apparently do bank transfers out, get a debit card, etc. The MtGox FAQ says that there's a 1% withdrawal fee for withdrawing to OKPAY; and OKPAY says that there's a 1% fee for doing a transfer to a bank account. So does that mean that I'd be paying a net of 2% to get from MtGox into my bank account? Or I could do an OKPAY debit card; by my calculations, that would be 1% + $15 for the card, and a several week wait for delivery; and then I would need to use it for POS transactions, as withdrawing cash from it at an ATM from it has a 2% fee (with a minimum of $3 per withdrawal).
Or I could buy BTC and sell them on another exchange. But the exchange rate on MtGox is higher than the other big USD exchanges (by up to 8%), on top of whatever fees or complications the other exchanges have, so that's a considerably more expensive option.
Anyone have any advice on the best way of getting USD out of MtGox that they have personal experience with? I'm interested a bit more in speed and convenience than the absolute cost, but I also don't want to be bled dry with fees.
I'm also wondering if it's worth setting up a new bank account to receive this, or just use my personal checking account. What do other people do? Setting up and maintaining another account at my bank may be a hassle, though I've been considering it for various online account purposes such as PayPal.
submitted by procrastin8ing to Bitcoin [link] [comments]

Mt. Gox & OKPay = Garbage; If You're In The US

I've been using Bitcoin since mid-2010, starting with Dwolla and CampBX but eventually being lured into the big Gox. Gox was (early 2011) pretty cool, not really for features, but because of the traffic and heavy trading.
Then Mt. Gox shit the bed, and got their Dwolla withdrawal method revoked.
No biggie, I can just use one of the other methods. Shouldn't be a problem, right? OKPay, this seems good. Probably better than the ¥2000 wire transfer fee at Gox right?
Here's the breakdown of how I hemorrhaged cash during one of my transfers:
So I started with $498.79 and ended up with $411.70 in my checking account, a net loss of $87.09 (17.5%). This tells me three things: OKPay is shit if you're in the states, I should have used the Mt. Gox wire transfer, better yet, I should have transferred my Bitcoins to sell on CampBX and use Dwolla for fucking $0.25 and avoid the whole catastrophuck.
To summate, Mt. Gox = Idiot Douchers (nothing new), OKPay = Fuck America, CampBX = Saving Mt. Gox Refugees, Dwolla = The Way.
I wouldn't mind hearing from some people (probably in the EU) who've had a decent experience with OKPay, utilizing an expansive selection of money transfer services that were unavailable to this particular Yank.
submitted by tamnoswal to Bitcoin [link] [comments]

12-21 18:57 - 'Don't forget the counterparty risk! Don't keep your coins in exchanges and e-wallets! Store your bitcoins somewhere safe!!!' (self.Bitcoin) by /u/shadowboyah removed from /r/Bitcoin within 0-5min

Now that the price is going to the moon, I'd like to bring back the topic of counterparty risk. Because I see new people coming in, I'd like to inform them that leaving your money to someone else, be it a bank, an exchange, a darknet market, a borrower etc etc, you face the risk of never getting your money back!
In Bitcoin there have been many hacks, ponzis, scams which have affected it price very negatively. Some of the most famous ones where : Bitcoinica, Mt. Gox, BTCe, Poloniex, BitStamp, Cryptsy, Shapeshift, Gatecoin, Bitfinex, BTER, Vircurex, Mintpal, Bitpay, Cavirtex, Bitquick, the DAO, Bittrex, cloud mining scams, p2p lending, Darknet markets exit scamming/getting bust etc. The way they were hacked varied, some didn't lose customer funds, others refunded them, others lost altcoins etc, but the danger of losing everything is still there.
Coinbase has had problems with the IRS demanding customer info, Cryptsy lawsuit because they helped Cryptsy's CEO steal and cash out customer funds, freezing accounts for gambling etc, not giving customer's Ethereum Classic after the Fork and so on.
Some of the 'old guys' know about all that and prefer to stay safe. Others keep risking it. Just be the smart guy! Very few people profit from trading or arbitrage! Do you think you are in the 10-20% of people that constantly make money trading? Chances are you aren't... In a year you could have made more than 2-3x just by holding your coins in a private wallet!
Some people were lending money at Bitfinex to earn interest (more than 10% per year). Guess what happened to them... They initially lost 36% and then it went down to 18% due to BFX's clever trick. And some people just kept USD in that exchange thinking nobody could take it from them.
Don't get distracted by high yields by any altcoin like Dash, Nubits, Lending Club or Cloud mining scheme. 90-100% of all those are scams or just unable to keep their promises. Some people might have profited, but on the expense of others, and in total, more people lost than gained.
And you are going to ask me: What if I want to sell or buy some coins? How do I do it? Well, nowadays there are many ways where you can do that safely. Might not very cheap, but these are probably some of the best ways to do it:
Localbitcoin, Bitcoin.de, Paxful, Wallofcoins, BitBargain, Bitsquare, Tether (Omni Dex), Mycelium local trader, Purse.io, itBit, Gemini or Glidera, are some ways where you can buy coins with very little counterparty risk and OTC. If you still insisted in trading, BTCC and Kraken are currently the best exchanges in my opinion!
The best way to buy coins would be to buy them with your debit/credit card and get them sent to your private wallet instantly! Some exchanges/services that I know are Glidera, Bitstamp, Coinbase, Bitx, Coinsbank and CEX.io. There might be others, but I don't know how good they are (I never buy with credit cards btw). I mainly use Kraken. I once deposited coins and sold them on Kraken and within 1 day I had my Euros in my SEPA account. Selling coins is riskier and the only 100% safe way, is to exchange BTC with cash with someone that you trust. I used to sell coins via Localbitcoin a few years ago. I would buy from an exchange and sell it for more there. After some time, I stopped using Localbitcoins. I had a small customer base, which I trusted and they trusted me. I'd work simply with bank deposits. At some point I trusted them and they trusted me so much, that I would send them the coins even the day before they'd make the deposit. I never had a single problem.
But, I had problems when I started... On my first trade someone tricked me on my first trade and I released the coins without ever getting the payment. I also had a problem when I sold coins with Paypal as he did a chargeback. I was young and naive, but luckily I didn't lose more than 200£ in total. Do some KYC to make sure they aren’t sending money from a hacked account or use services like Moneypolo, OkPay and Perfect money. These services are great for sellers, but as a buyer you might lose your money if you get hacked. Avoid services where someone can reverse a transaction like PayPal and Skrill. It isn't just about the exchanges getting hacked. What if you get hacked? Someone could easily steal all your details and even if you had 2FA on, they could steal your funds (something extremely hard to do, maybe impossible, if you had a hardware wallet. Finally, arbitrage isn't that profitable. The probability of one exchange getting hacked is lower than the probability of one out of five exchange being hacked. So you have to expect losses from at least one exchange... Bitstamp, BTCe and Poloniex made their customers whole again and that's very honorable, but how many more blows can they take? What if they lose altcoins and they take the route of socialised losses?
Don't forget the counterparty risk! Don't keep your coins in exchanges and e-wallets! Store your bitcoins somewhere safe!!!
Go1dfish undelete link
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Author: shadowboyah
submitted by removalbot to removalbot [link] [comments]

Need your help to make a list of all operating Bitcoin payment processors around the world.

Dear Bitcoin friends,
I'm working on a few Bitcoin-related businesses and I'd like to compile/research every single BTC payment processor throughout the globe. Most of my new businesses will require Bitcoin to FIAT conversion, but I'd like to also have the option of straight up Bitcoin to Bitcoin deposit.
Here's the list that I've compiled thus far:
Thank you in advance for all your help!
submitted by coolcityboy to Bitcoin [link] [comments]

The Next Big Thing for bitcoin

I've been following bitcoin for a while. I've even had ideas for bitcoin related business, however without the time or capital to invest in them I've seen myself beaten to the punch time and time again. So rather than get invested in a new idea only to see someone beat me to it, I've decided to try an earn some cred as a futurist. So here's my prediction:
When bitspend came out I was already in talks with some friends to get some programming help for an almost identical project. (Though my plan was the leverage the Amazon API so as not to get bogged down by manual orders the way bitspend seems to have). I originally believed I was 6-months ahead of the curve when all of a sudden, wham - there it is. And the thing that comes next is a pretty straightforward extension.
Bitcoin POS systems that use an online trusted third party to prevent double-spend attacks. The idea is simple. Some amount of the buyers bitcoins are held in an online wallet who's direct controls are under the control of the third party (call them "bitcoin trust authority" or something) You slide your card and then enter a time-based authentication code similar to blizzards authenticator (although the hardware is largely irrelevant. You could do this just with smart phones). The third party sends the bitcoins to the seller and disallows any attempt at a double spend. This way transactions can be considered complete even at the "unconfirmed" stage. Transaction fees can be tiny in this scenario. And the seller can simply have their address be one of the many wallets (such as linden dollars, OKPAY, or even MtGox if I understand correctly) that automatically converts BTC into dollars (if they are so inclined).
The hardware is cheap, the infrastructure is cheap, and the market is just about ready. We'll see these soon.
submitted by erenthia to Bitcoin [link] [comments]

Coinbase Standard? -- No OKPay for MtGox -- Roseanne Barr Supports Bitcoin! (#029) BUY BITCOIN WITH PAYPAL VISA MASTER CARD SKRILL OKPAY Unichange.me - great exchange service, work with #Bitcoin, #Litecoin, #BTCe, #OkPay, #FasaPay, etc. #993 DeFi nicht Bitcoin, OKEx Auszahlungen gestoppt & Mt ... Activate Bitcoin Litecoin Dogecoin address in Okpay

Bitcoin News Bitcoin Exchange Mt Gox to be Given $6.1 Million in Customers’ Money by OKPay Following Recent Court Order. A court order was issued to OKPay, a payment processing company, forcing ... It would appear as if financial services company OKPay is imposing restrictions on users who may wish to buy bitcoin using GBP transfers. A screenshot OKPay - die Zahlungsverarbeitungsfirma - hat den Kunden gesagt, dass sie die Verarbeitung von Bitcoin-Transaktionen beenden wird. Kunden bieten nicht mehr als eine einseitige Aussage, die lautet: "Sehr geehrte Kunden, wir unterbrechen derzeit Bitcoin-Verarbeitung", hat OKPay seine Partner und Kunden verwechselt, was hinter der Entscheidung liegt. [email protected] Sign up Sign in. Homepage; News; Reviews; Tariffs; Feedback; Online exchanger. currency, e-currency . All. All. You send. You receive. Rate. Reserve. Qiwi RUB VISA/MasterCard UAH Zcash ZEC Dash DASH Litecoin LTC Privat24 UAH Dogecoin DOGE Tether USDT Bitcoin BTC Perfect Money USD Ethereum ETH Bitcoin Cash BCH Cash RUB Stellar XLM Monero XMR Yandex.Money RUB Webmoney RUB ... OKPay – the payment-processing company – has told customers it will stop processing bitcoin transactions. Providing customers with no more than a one-lined statement that reads: “Dear ...

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Coinbase Standard? -- No OKPay for MtGox -- Roseanne Barr Supports Bitcoin! (#029)

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