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Andreas M. Antonopoulos 2014-04-01 22:42:28 -07:00
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@ -136,7 +136,6 @@ It is not possible to buy bitcoins at a bank, or foreign exchange kioks, at this
* Bitstamp (bitstamp.net), a European currency market that supports several currencies including euros (EUR) and US dollars (USD) via wire transfer
* Coinbase (coinbase.com), a US-based currency market, based in California, that supports US dollar exchange to and from bitcoin. Coinbase can connect to US checking accounts via the ACH system
* Mt. Gox (mtgox.com), one of the oldest bitcoin currency exchanges, based in Japan, that supports many different national currencies via wire transfer.
Crypto-currency exchanges such as these operate at the intersection of national currencies and crypto-currencies. As such, they are subject to national and international regulations and are often specific to a single country or economic area and specialize in the national currencies of that area. Your choice of currency exchange will be specific to the national currency you use and limited to the exchanges that operate within the legal jurisdiction of your country. It takes several days or weeks to setup the necessary accounts with the above services, as they require various forms of identification to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) banking regulations, essentially like opening a new bank account. Once you have an account on a bitcoin exchange, you can then buy or sell bitcoins quickly, just like buying a foreign currency with a brokerage account.