@ -142,16 +142,16 @@ Alice is now ready to start using her new bitcoin wallet.
http://bitstamp.net[Bitstamp]:: A European currency market that supports several currencies including euros (EUR) and US dollars (USD) via wire transfer.((("Bitstamp currency market")))
http://www.coinbase.com[Coinbase]:: A US-based bitcoin wallet and platform where merchants and consumers can transact in bitcoin. Coinbase makes it easy to buy and sell bitcoin, allowing users to connect to US checking accounts via the ACH system.((("Coinbase currency market")))
Cryptocurrency exchanges such as these operate at the intersection of national currencies and cryptocurrencies. 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. Similar to opening a bank account, it takes several days or weeks to set up the necessary accounts with these services because they require various forms of identification to comply with((("AML (Anti-Money Laundering) banking regulations")))((("banking regulations and bitcoin")))((("KYC (Know Your Customer) banking regulations"))) KYC (Know Your Customer) and AML (Anti-Money Laundering) banking regulations. Once you have an account on a bitcoin exchange, you can then buy or sell bitcoins quickly just as you could with foreign currency with a brokerage account.
Cryptocurrency exchanges such as these operate at the intersection of national currencies and cryptocurrencies. 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. Similar to opening a bank account, it takes several days or weeks to set up the necessary accounts with these services because they require various forms of identification to comply with((("AML (Anti-Money Laundering) banking regulations")))((("banking regulations and bitcoin")))((("KYC (Know Your Customer) banking regulations"))) KYC (know your customer) and AML (anti-money laundering) banking regulations. Once you have an account on a bitcoin exchange, you can then buy or sell bitcoins quickly just as you could with foreign currency with a brokerage account.
You can find a more complete list at http://bitcoincharts.com/markets[bitcoin charts], a site that offers price quotes and other market data across many dozens of currency exchanges.
There are four other methods for getting bitcoins as a new user:
* Find((("bitcoins, buying for cash"))) a friend who has bitcoins and buy some from them directly. Many bitcoin users started this way.
* Use a classified service like localbitcoins.com to find a seller in your area to buy bitcoins for cash in an in-person transaction.
* Sell a product or service for bitcoin. If you're a programmer, sell your programming skills. If you have an online store, see [XREF-bitcoin-commerce] to sell in bitcoin.
* Use((("ATMs, bitcoin")))((("bitcoin ATMs"))) a bitcoin ATM in your city. You can find a map of bitcoin ATMs at http://www.coindesk.com/bitcoin-atm-map/.
* Find((("bitcoins, buying for cash"))) a friend who has bitcoins and buy some from him directly. Many bitcoin users start this way.
* Use a classified service such as localbitcoins.com to find a seller in your area to buy bitcoins for cash in an in-person transaction.
* Sell a product or service for bitcoin. If you're a programmer, sell your programming skills.
* Use((("ATMs, bitcoin")))((("bitcoin ATMs"))) a bitcoin ATM in your city. Find a bitcoin ATM close to you using this http://www.coindesk.com/bitcoin-atm-map/[online map].
Alice was introduced to bitcoin by a friend and so she has an easy way of getting her first bitcoin while she waits for her account on a California currency market to be verified and activated.
myarbrough@oreilly.com
10 years ago