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Safe Bitcoin use from Ireland?

  • 29-04-2017 1:17pm
    #1
    Registered Users, Registered Users 2 Posts: 2,811
    ✭✭✭


    There is an online service I want to pay for that used to accept PayPal but have now swapped for Bitcoin. I have never used it, and the guides I have found online seem to be for users in the US or UK.

    I found an Irish website, bitcove.ie, but when it was asking me to create a password Firefox warned me they are not using SSL, which does not exactly inspire confidence.

    Can someone recommend somewhere reputable to set up an account, and does it work pay as you go, as PayPal does? That is, can my account be 'charged' (probably the wrong word) as I make purchases, or do I have to buy coins first to spend later?


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Comments

  • Registered Users, Registered Users 2 Posts: 36,170 ED E
    ✭✭✭✭


    You have to buy coins, then send them, then wait for the network to confirm they've been sent (4-20mins).

    Unless this site is doing something nefarious or evading tax its a weird move to make. I'd be finding a competitor as buying BTC and paying that way isnt super novice friendly (though its not mega difficult either, but its kinda slow).


  • Registered Users, Registered Users 2 Posts: 32 Cove.Throne


    Bitcove are as legit as they come.
    There seems to be an SSL cert up and running right now, perhaps it was some temporary technical issue.


  • Registered Users, Registered Users 2 Posts: 6 eccuuser


    can bitcoin be used in Ireland for phones?


  • Registered Users, Registered Users 2 Posts: 297 bipedalhumanoid
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    I was looking at bitcove today and they want to charge €2400 per coin even though the current value is around €2300. They seem to be charging about 4% in commission. That is very high. Why would anyone pay that when you can pay 1% commission elsewhere?


  • Registered Users, Registered Users 2 Posts: 297 bipedalhumanoid
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    Masochism?


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  • Registered Users, Registered Users 2 Posts: 297 bipedalhumanoid
    ✭✭


    You would have to be absolutely insane to buy bitcoin from bitcove.

    Their spread is huge, ensuring you pay a lot more than you would anywhere else. They're also incredibly slow. You never know what price you're buying your bitcoin at because it isn't locked in until they get your money through a bank transfer and then get around to processing it. I had to email them several times to get them to process the transactions. If the price rises by over US$400 in a couple of hours like it did today, too bad.

    Coinbase is even cheaper and they're notorious for their high fees. I'd recommend Kraken. You just do a SEPA transfer to a German bank account. The fees are minimal and you can set up buy and sell orders.


  • Moderators, Business & Finance Moderators, Sports Moderators Posts: 15,120 whiterebel
    Mod ✭✭✭✭


    Please don't re-open old threads.


This discussion has been closed.
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