BITCOIN HEADACHE RELIEF

vitruviusbeard

vitruviusbeard

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Joined
Jul 10, 2019
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51
If you are having trouble with bitcoin, please let me help you. It is a lot easier then Google would make you believe. 

Step 1: Download Electrum wallet. It will give you a set of words to allow access to your wallet. Keep these somewhere safe. It is the only way to access your money if you forget your password, etc. 

Step 2: Set up an account with Coinmama. (this takes a bit of time and pictures, but after 12-24 hours you will be able to buy bitcoin immediately) Banks do not like to support bitcoin so only certain vendors can get passed this. 

Step 3: In the receive tab of your Electrum wallet you will see a wallet address. You give this to people so they can send you money. The same goes for Coinmama. When buying Bitcoin from that website it will ask you for your wallet address. This is the Electrum address that you copy and paste in. The money has to bounce around the world for a few hours securing your transaction. (Sometimes you will have to restart the Electrum so it will begin to track your order, you may have to do this a few times)

Step 4: OPTIONAL - You can have multiple Electrum wallet addresses if you want, but the only advantage to this is to know exactly who sent you money. That is the ONLY reason. If you do not need to know who sent you money then don't add other addresses, just keep one. 

Step 5: To send money, the recipient will have to send you their wallet address. Go to the send tab in your Electrum wallet and paste that address in. Select the amount of bitcoin to send using google (USD to bitcoin, CAD to Bitcoin, etc) to get the exact amount to send. There is a slider bar underneath asking the fee amount you would like use. Its use is how fast the money gets sent around the world. Whether you set it to high or low, it is really not a large amount of money. So I always send high because it is just a nice thing to do for your recipient. I have never used low so I dont know how much longer it takes, but its only a couple of bucks so just use high. 

Step 6: Thank Bitcoin for being amazing and giving us freedom with our money.  

 
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I will definitely be directing members to this thread so thank you for taking the time to create it. Even with all the information already posted on how to buy bitcoins there are many people who still think it's rocket science. Your directions seem pretty easy to follow so I hope it will encourage members to give it a try.

 
all i can do is laugh at this !! it DOES help to realize i wasnt the only one !!! lol lol

 
Thanks! I’ve just joined, and have been as intimidated as hell by the whole bitcoin thing! Not new to the world, but def new to this one. But I’ve also been looking for you guys a long time.

So, I’m hopeful I can learn a new trick. Hope I don’t fuck it up too much!

 
@Idaknowbetter Thanks, feel free to ask any more questions. It took me a long time to figure it out...because of all the misleading information. Good luck

 
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Took me a bit to warm up to the idea of btc but now I appreciate and prefer it :) Great post, very helpful info.

 
I agree, it can seem very daunting at first and I consider myself pretty tech-savvy. However, I think the original poster has hit the nail right on the head as well as the admins in their descriptions on how to get everything set up. I would use a computer as opposed to trying to do this all through a cell phone.  If you are forced to use a cell phone I would do it through my browser and make sure to select the option in your browser to request the desktop style of the webpage and I think that would make it easier to for anyone that's having troubles

 
Just wanted to add that I found libertyx btc atm to be super easy and only 8% buy fee, shows up as an atm withdrawal. Basically;

1. Download a mobile wallet, I use green, you will need to do the passphrase as described above.

2. Download the libertyx app and register.

3. Drive to libertyx btc atm, it will look just like a regular atm because it is, but...

4. Instead of inserting your card press the libertyx button

5. In the libertyx app select the atm you are at and click buy btc, a transaction number will be displayed 

6. Enter number on atm screen 

7. Bring up wallet address and copy into libertyx app

8. Select amount to buy, insert atm card and use like regular atm except instead of spitting out cash it will give you a receipt and put btc in your wallet minus 8 % fee

I found this much easier than trying to go through verification with an exchange.

In your wallet you can create additional wallets and move it around or split it if you want but each move has a cost proportional to the speed at which the transfer completes. 

Important to keep this in mind when making orders as you will need a little cushion so you can make it happen quickly. Vendors don't want to wait hours because you chose the cheapest verification method. For example if your order is $100 I would send $102 at fastest method vs $100.33 at the slowest method. 

 
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I have the Electrum wallet and the Coinmama account, but everytime I try to buy with my bank debit card, it gets refused.

My bank placed a "fraud hold" after my two attempts.

I then tried to use my credit card, which is from a different bank. That gets refused, also.

I need to buy bitcoin, and now I am stuck.

Sad funkytown. :)

 
funkytown said:
I have the Electrum wallet and the Coinmama account, but everytime I try to buy with my bank debit card, it gets refused.

My bank placed a "fraud hold" after my two attempts.

I then tried to use my credit card, which is from a different bank. That gets refused, also.

I need to buy bitcoin, and now I am stuck.

Sad funkytown. :)
Click to expand...
Hey, I know your post is over 2 months old but thought I'd respond just incase you're still interested or someone else is having the same trouble.

Don't know about Coinmama or specifically your bank (unless we have the same bank). I use Coinbase. I've used other methods to obtain btc/cryptocurrency, but Coinbase is the only one where I pull directly from my bank.

What happened is: is exactly what you want your bank to do. It's your bank protecting you. You just need to call your bank, verify yourself and authorize the funds. I had to do this for my first deposit to Coinbase. And a couple of other times (?) if it had been over year since putting funds into Coinbase. (I think it was that)(?)

The last time it was because the amount was fairly large. Once I noticed the text message my bank sent me, I just had to select "yes" "I authorize this withdrawal "...or something. 

 
I use the Exodus wallet and found it pretty easy to understand. I write it all down so I can remember when the time comes.

 
I just downloaded the ZenGo app and bought bitcoin with my CC (you can also use apple pay). You will have to send in a selfie of you holding the CC but the verification process only took a few hours. 

 
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I think this will take a miracle-
But does anyone know of anyway to access an old wallet account, without the 12 word pass phrase?

(I’ve already thoroughly discussed the issue with the wallet company’s proprietor- and their direct, clear-cut answer was, “No, no way.”)
 
funkytown said:
I have the Electrum wallet and the Coinmama account, but everytime I try to buy with my bank debit card, it gets refused.

My bank placed a "fraud hold" after my two attempts.

I then tried to use my credit card, which is from a different bank. That gets refused, also.

I need to buy bitcoin, and now I am stuck.

Sad funkytown. :)
Click to expand...

I’m in the same boat (I have to resort to expensive bitcoin ATM transaction fees)… I think it also depends on your bank, for example, I directly asked my bank about it, and their response was- “Sorry, but Company policy forbids any kind of bitcoin transactions with any of the accounts/cards.”
I opened up a new account at a different bank, hopefully they have a different policy (but as someone else mentioned, there will still be a bit of hassle with verification… but hopefully it’ll all be worth it, by providing a better alternative to bitcoin atm’s.)
 
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