Buy Bitcoins most secure way.

Hi,

I'd like to buy some bitcoins, just for a few hundred Dollars. Pretty new to it, so I tried BTDitect. Apparently I needed a wallet so downloaded Coinbase to make a Wallet and wanted to add money to it but that fails (Mastercard) with messsage "you bank doesn't allow cryptocurrency transfers".

Iow: what should I do to do a limited gamble on some bitcoins, the most secure way?

Thanks for your input.
J.
janhoedtAsked:
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Lee W, MVPTechnology and Business Process AdvisorCommented:
Most banks no longer treat Cryptocurrencies as things you can buy.  They treat them as cash advances.  You can use a bank account with coinbase with ACH transfers.
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Martin MillerCTOCommented:
I would trust one of the larger exchanges over a local wallet, e.g.   http://www.coinbase.com

Even when they had an issue, they took care of the customer, you :-)

Coinbase has Bitcoin, Litecoin, Eutherium, and Bitcoin-Cash

You fund from your bank to Coinbase... they do the acquisition which your bank won't.


There are other exchanges that are reputable, just not endorsing them.
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btanExec ConsultantCommented:
Many places that sell or exchange bitcoin include a wallet with your account.
Agree with experts and Coinbase is a perfect example.
You can use services on exchanges like Coinbase to temporarily hold your bitcoin but you should always own your private keys and keep your bitcoin off of the exchanges as much as you can.
When you have your bitcoin on an exchange, the exchange owns the private keys. Not good.

There are actually 3 type of wallets - most secure on the top..

Hardware Wallets – These are a physical device that you plug in via USB cable to your computer to access your bitcoin wallet. Such as the Trezor and Ledger. You own your private keys and you own the bitcoin.

Software wallets: A program you install on your machine or mobile device. Some are downloadable wallets that can be transfer into USB drives. In a way safer since you do not connect to internet. Electrum.org is the most popular, open source, trusted software wallet.

Web wallets: Most people just use web wallets. These are hosted and maintained by third parties online . But I do not recommend keeping your bitcoin in a web wallet, especially at an exchange. The rationale earlier - You cannot totally managed when you have no control and full possession of it.
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Shaun VermaakTechnical Specialist/DeveloperCommented:
After buying, if you are not planning to trade bitcoins etc., save it as an offline paper wallet. 33% of my coins are stored like this. DO NOT use the online version.
https://bitcoinpaperwallet.com/
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Dr. KlahnPrincipal Software EngineerCommented:
To add to what Shaun has said:  And keep at least two copies of that paper wallet, in different secure locations.
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janhoedtAuthor Commented:
Thanks, but don t have time to go through all lotions. Just would like to buy some bitcoin's in a simple and secure way, in let s say 20 minutes. If feasible, can you guide me here?  F.e. use site x for wallet, site y for buying, then.do.that to put bitcoin's safely offline ...?
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btanExec ConsultantCommented:
You still a wallet even though you can buy bitcoin pretty fast , just see this step by step,
- create accouynt and get free wallet
- read through the seller’s offer terms
- happy with them
- enter the amount of bitcoin you wish to but
- click BUY.

https://paxful.com/support/post/how-do-i-buy-my-first-bitcoin-step-by-step-please/

Some precautions using "Paxful" in this case
-2-factor extra protections can be enabled when logging in, sending out bitcoins or in trade releasing bitcoins to buyer as a seller.
- Currently support Google Authenticator, Authy and SMS based 2-factors.
- Beware of phishing websites. Always make sure you are on https://paxful.com before entering in any account details.
- Paxful support will NEVER ask for your account details such as username or password in any way, not over email or chat.
- Paxful has NO SKYPE SUPPORT! Never send bitcoin or account details to anyone!
- Paxful support will never ask you to send bitcoin or account details.
- Paxful has no app on iPhone or Android so never download any Paxful apps as they are malware and contain viruses.

It is up to you to protect your account.
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janhoedtAuthor Commented:
Tried to use coinbase at first. But my bank doesn't let me transfer to the country Estonia.
Then I wanted to use Paxful, but that doesn't seem very legit either.
https://bitcointalk.org/index.php?topic=1337755.40

"Paxful.com is a complete scam. I went to bed with a $388.26 worth of bitcoins in my paxful.com wallet but woke up with $193.24 in my wallet. Apparently a transaction has been done on my account without my knowledge. I contacted support and until this day-no response. I have had many people complain similar experiences with their wallets on paxful.com but i didn't believe it until it happened to me. There is also this thing where you can never win a dispute on paxful.com with the numerous crook sellers on paxful.com if you are a buyer."

Just need a trustworthy source to buy bitcoins in a quick and safe way, preferrably via Paypal.
Please advise.
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btanExec ConsultantCommented:
Actually Coinbase is still one of the more reliable one. Nonetheless, below are toher

Coinmama, based in Israel, accepts both credit card and cash (via Western Union or MoneyGram). It has higher amount of countries that are accepted, more than Coinbase). Their service is becoming a very popular alternative because of the ease at which anyone can buy from anywhere around the world.
https://www.coinmama.com/?ref=howbuy449

As for using PayPal to buy bitcoin, you may already know it will entail high transaction fees. Actually Paxful accept PayPal...

 Another is Localbitcoins. It has recently added the option for buyers and sellers to exchange bitcoins for PayPal. Due to the fear of reversible transactions and charge-backs, not many sites offer the use of this payment processor. Therefore, they require you to have community reputation (previous purchase history). For info, sellers do this in-order to minimize the risk that bad-actors reverse the PayPal transaction while keeping the bitcoins.
https://howtobuybitcoin.io/best-places-to-get-bitcoin/#Localbitcoinscom
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janhoedtAuthor Commented:
So many choices, so confusing. Tried several, entered passport photo, selfies etc. Again and again could n t make it work. Picture not clear enough so validation failed, could not transfer money since bank does not allow etc.
Spend several hours then finally succeeded with blockchain.com but only fot limited amount and when I read review of blockchain.com it is very bad???  Oh man, how do I know  now if I can trust individual's.com and how do I transfer some money back of my bitcoin's to my bank account again?
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janhoedtAuthor Commented:
Now I see my bitcoins are bought on coinify ... Really lost here. Maybe I do need to read some intro.
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btanExec ConsultantCommented:
You meed to take time to understand but the risk remains when dealing with Bitcoin exchanges. For prudence, it is advisable to invest only on disposable income set aside. Quick return is not expected without any experience and knowing the digital currency better as a beginner. You can engage a conversation too https://help.coinify.com/conversation/new
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btanExec ConsultantCommented:
Consider also never put in money you cannot afford to lose.
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janhoedtAuthor Commented:
How can I mark an answer and close this? Don't see this option anymore?
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btanExec ConsultantCommented:
Hopefully this help. OR can make "Report Question" request to seek Moderator advice for review.
http://support.experts-exchange.com/customer/en/portal/articles/608621-how-do-i-accept-a-comment-as-my-solution-
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