Getting your money out

 

Initially, for me, without a credit card and living in Hong Kong  (where it seems incredibly slow uptake to the rest of the world) my biggest problem was how could I buy in.  It took until an extortionate exchange at a bitcoin ATM allowed to get my hard earned into virtual currency.

I’d tell me friends and family about this and the biggest fear I would hear from them about my investment in cryptographic-currency was “so how do you get your money out?”

I was looking at https://www.bitfinex.com/ and then I heard that Wells Fargo bank had made it difficult for you to remove your money this way, more here …

https://www.okcoin.cn seems to give a solution to this problem in Chinese RMB, but it appears (so far, from my investigation) that you need a China ID to open an account (along with a China Bank account or Alipay account).

Maybe this https://wirexapp.com/ is a solution?

If you can actually spend your coins on real things then getting your money out is as easy as buying what you want to buy with your digital currency.  So looking at spending your coins through VISA could be a game changer:

https://www.mona.co/

Here’s another possible option:

Pay Bills with Bitcoin | Bitwala – Blockchain Banking

And……

https://blog.crowdifyclub.com/1119/show

 

Likewise, https://www.cryptowoo.com/ enables traders to sell goods on their websites using digital currency, so those that want to cash out, can just buy what they want from traders using this. Read more about this here …

List of Companies Who Accepts Bitcoins as Payment!

Many companies are accepting bitcoins, many are not. Here is a list of the biggest (and smaller) names who accepts bitcoins as a currency.

  • WordPress.com – An online company that allows user to create free blogs
  • Overstock.com – A company that sells big ticket items at lower prices due to overstocking
  • Subway – Eat fresh
  • Microsoft – Users can buy content with Bitcoin on Xbox and Windows store
  • Reddit – You can buy premium features there with bitcoins
  • Virgin Galactic – Richard Branson company that includes Virgin Mobile and Virgin Airline
  • OkCupid – Online dating site
  • Tigerdirect – Major electronic online retailer
  • Namecheap – Domain name registrar
  • CheapAir.com – Travel booking site for airline tickets, car rentals, hotels
  • Expedia.com – Online travel booking agency
  • Gyft – Buy giftcards using Bitcoin
  • Newegg.com – Online electronics retailer now uses bitpay to accept bitcoin as payment
  • Dell – American privately owned multinational computer technology company
  •  Wikipedia –  The Free Encyclopedia with 4 570 000+ article
  • Steam – Desktop gaming platform
  • The Internet Archive – web documatation company
  • Bitcoin.Travel – a travel site that provides accommodation, apartments, attractions, bars, and beauty salons around the world
  • Pembury Tavern – A pub in London, England
  •  Old Fitzroy – A pub in Sydney, Australia
  • The Pink Cow – A diner in Tokyo, Japan
  • The Pirate Bay – BitTorrent directories
  • Zynga – Mobile gaming
  • 4Chan.org – For premium services
  • EZTV – Torrents TV shows provider
  • Mega.co.nz – The new venture started by the former owner of MegaUpload Kim Dotcom
  • Lumfile – Free cloud base file server – pay for premium services
  • Etsy Vendors – 93 of them
  • PizzaForCoins.com – Domino’s Pizza signed up – pay for their pizza with bitcons
  • Whole Foods – Organic food store (by purchasing gift card from Gyft)
  • Bitcoincoffee.com – Buy your favorite coffee online
  • Grass Hill Alpacas – A local farm in Haydenville, MA
  • Jeffersons Store – A street wear clothing store in Bergenfield, N.J
  • Helen’s Pizza – Jersey City, N.J., you can get a slice  of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register
  • A Class Limousine – Pick you up and drop you off at Newark (N.J.) Airport
  • Seoclerks.com – Get SEO work done on your site cheap
  • Mint.com – Mint pulls all your financial accounts into one place. Set a budget, track your goals and do more
  • Fancy.com – Discover amazing stuff, collect the things you love, buy it all in one place (Source: Fancy)
  • Bloomberg.com – Online newspaper
  • Humblebundle.com – Indie game site
  • BigFishGames.com – Games for PC, Mac and Smartphones (iPhone, Android, Windows)
  • Suntimes.com – Chicago based online newspaper
  • San Jose Earthquakes – San Jose California Professional Soccer Team (MLS)
  • Square – Payment processor that help small businesses accept credit cards using iPhone, Android or iPad
  • Crowdtilt.com – The fastest and easiest way to pool funds with family and friends (Source: crowdtilt)
  • Lumfile – Server company that offers free cloud-based servers
  • Museum of the Coastal Bend – 2200 East Red River Street, Victoria, Texas 77901, USA
  • Gap, GameStop and JC Penney – have to use eGifter.com
  • Etsy Vendors – Original art and Jewelry creations
  • Fight for the Future – Leading organization finding for Internet freedom
  • i-Pmart (ipmart.com.my) – A Malaysian online mobile phone and electronic parts retailer
  • curryupnow.com – A total of 12 restaurants on the list of restaurants accept bitcoins in San Francisco Bay Area
  • Dish Network – An American direct-broadcast satellite service provider
  • The Libertarian Party – United States political party
  • Yacht-base.com – Croatian yacht charter company
  • Euro Pacific – A major precious metal dealer
  • CEX – The trade-in chain has a shop in Glasgow, Scotland that accepts bitcoin
  • Straub Auto Repairs – 477 Warburton Ave, Hastings-on-Hudson, NY 10706 – (914) 478-1177
  • PSP Mollie – Dutch Payment Service
  • Intuit – an American software company that develops financial and tax preparation software and related services for small businesses, accountants and individuals.
  • ShopJoy – An Australian online retailer that sells novelty and unique gifts
  • Lv.net – Las Vegas high speed internet services
  • ExpressVPN.com – High speed, ultra secure VPN network
  • Grooveshark – Online music streaming service based in the United States
  • Braintree – Well known payments processor
  • MIT Coop Store – Massachusetts Institute of Technology student bookstore
  • SimplePay – Nigeria’s most popular web and mobile-based wallet service
  • SFU bookstore – Simon Fraser University in Vancouver, Canada
  • State Republican Party – First State Republican Party to accept bitcoin donations (http://www.lagop.com/bitcoin-donate)
  • mspinc.com – Respiratory medical equipment supplies store
  • Shopify.com – An online store that allows anyone to sell their products
  • Famsa – Mexico’s biggest retailer
  • Naughty America – Adult entertainment provider
  • Mexico’s Universidad de las Américas Puebla – A major university in Mexico
  • LOT Polish Airlines – A worldwide airline based in Poland
  • MovieTickets.com – Online movie ticket exchange/retailer
  • Dream Lover – Online relationship service
  • Lionsgate Films – The production studio behind titles such as The Hunger Games and The Day After Tomorrow
  • Rakutan – A Japanese e-commerce giant
  • Badoo – Online dating network
  • RE/MAX London – UK-based franchisee of the global real estate network
  • T-Mobile Poland – T-Mobile’s Poland-based mobile phone top-up company
  • Stripe – San Francisco-based payments company
  • WebJet – Online travel agency
  • Green Man Gaming – Popular digital game reseller
  • Save the Children  – Global charity organization
  • NCR Silver – Point of sales systems
  • One Shot Hotels – Spanish hotel chain
  • Coupa Café in Palo Alto

  • PureVPN – VPN provider
  • That’s my face – create action figures
  • Foodler – North American restaurant delivery company
  • Amagi Metals – Precious metal furnisher

new edit …

I found that these places allow you to sell you bitcoins for fiat:

https://www.litebit.eu/en/register/referrer:21387

https://anycoindirect.eu/en/buy/bitcoins?discref=e1550e11-4e02-4b01-b35a-1dd3ced8be92

 

… but no idea how it works, will get back to you …

Your first bitcoin purchase

1. Get Yourself a Wallet
You need to get yourself a coin wallet or a trading account, because what you will do is go to a service that allows you to put in fiat cash and you get out bitcoins, you need to put those bitcoins somewhere.

Here are some wallet options (let us know if you have some others you like, have had suggested or have heard about) :

Blockchain.info  (an online wallet, has a webpage and an app)
Jaxx (probably my favourite as it allows you to hold a few other alt coins)
Mycelium (a phone app wallet, supposedly very secure and developing tech to trade coin in and out of fiat direct from the wallet)

Here are some trading platform options (again, let us know of any others in the comments):

Poloniex (the one I’ve been using for the last month or more and it has a nice app you can use too).
Kraken (one of the early trading platforms, has been around a while.)
These two seem to cover most of the coins on the market, there are other coins that are not available on trading platforms and these you will need to download their own wallet to buy them.

2. Buy your bitcoins
This is how I did it (besides visiting the HK bitcoin ATM).
I registered an account here: https://www.coinmama.com/ you have to put in nyour details and send them a selfie of you and your passport to prove you are who you say you are and then they ask you to send a selfie of you and your mastercard.
Once your account is confirmed, login and then go to  https://www.coinmama.com/bitcoins
Choose if you buy with EUR or USD
Scroll down and choose the amount you want to buy (easier to work it out in euros or dollars, rather than Bitcoins)
Then click “Buy Bitcoins”
It will take you to the next page that will ask you your method of payment.
I think it will be “Credit/Debit card via simplex”.
It will then ask you for a bitcoin wallet address, you will find this in your chosen bitcoin wallet or in your Poloneix trading account you’ll find it under balances > Deposits and withdrawals you then go down the list, find bitcoin, click “Deposit” and it will show you your bitcoin deposit address (here in yellow) eg:
Note !!!!!!  This address is ONLY for depositing BITCOINS!
You then click complete payment and follow the instructions through to the end.
You will get an email from them, asking you to confirm the Wallet address, go to your email and click confirm.
Payment should be 5 minutes and you’ll have bitcoins.   (or they may send you an email asking you for more information about you, which is normal the first time.)
Let me know how you get on.