Has anyone used BitStamp Instant to buy bitcoin?

Discussion in 'General Bitcoin Gambling Discussion' started by NKOTB, May 30, 2017.

  1. NKOTB

    NKOTB Member

    Normally I buy my bitcoin from an ATM or via localbitcoins because they offer more anonymity but I'm tempted to try the "BitStamp Instant" service. Has anyone used their credit card to buy btc instantly with BitStamp?
  2. Humble Servant

    Humble Servant Active Member Staff Member

    When I tried it I had to submit ID via the webcam and then it took them over 2 days to verify my account so it's far from instant.
  3. Humble Servant

    Humble Servant Active Member Staff Member

    Here is the fee structure for BitStamp Instant purchase with debit/credit card in the United States.

    $100 / €100 8%
    $250 / €250 8%
    $500 / €500 8%
    $1000 / €1000 7%
    $2500 / €2500 6%
    $5000 / €5000 5%
  4. Toast

    Toast Member

    my first "instant" purchase took about 5 days while their aml/kyc department reviewed my documentation. the second purchase with a credit card was faster however the commission rates are too high. it's much cheaper to use either localbitcoin or an exchange. my local atm is almost cheaper than 8%.
  5. EvilK

    EvilK Member

    why do bitcoin exchanges take so long to verify your identity. i've sent my documents into 3 different exchanges and they also took over two weeks to fully activate my account. surely if so many people are now trading at crypto-currency exchanges, they can afford to high some extra support staff.
  6. Humble Servant

    Humble Servant Active Member Staff Member

  7. Kaboom

    Kaboom Member

  8. Humble Servant

    Humble Servant Active Member Staff Member

    The fact that companies like Cash App are starting to make it possible to buy bitcoin instantly will make more expensive services like BitStamp redundant in the near future.
  9. BeastyBoy

    BeastyBoy Member

    doesn't neteller and skrill allow you to buy instantly now also?
  10. Doyle

    Doyle Member

    Yes, you can buy and sell bitcoin, ethereum and a bunch of other crypto's at both Skrill and Netleller but you can't withdraw then so it's purely for investment.

    If you have to buy bitcoin quickly and easily then use the Cash App from Square.
  11. SuckIt

    SuckIt Member

    Does this feature even exist given that you can buy bitcoin instantly using apps like Cash App, Revolut, Skrill etc.

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