How to buy your first Bit of Bitcoin - Step 2

[Rob D]

Ok so you've opened your Bitgo wallet - you're happy that you can log in and log out of it. If you're happy about that then Step 2.

 

I was told I was an idiot to show these steps - if something goes wrong then it will be my fault... Nonsense says I - we are all grown up on arbtalk and would not possibly blame someone else for our own errors!

 

• Intall the 'Authy App' on your phone (and another phone if you can). This is similar to the Google authenticator app for the BitGo wallet.

 

Ok this is how I did it. I used an exchange called Coinfloor https://www.coinfloor.co.uk/

 

• Seems to be a UK company deals in £ and they reply to support tickets

 

• Sign up
• They send you a confirmaton e-mail - click that
• I used the mobile 2 factor authentication
• Add your mobile number - they will then text you a number to add here - add it
• Now will ask you to validate your account - put in all your details
• Keep following through - I can't upload screenshots as has my details in!
• In the end you come to a screen where you have to upload a document - I uploaded my passport

 

Ok your account should be set - they will check and verify your account. Once the account is verified then you can move to Step 3.

 

 

[Rich Rule]

Well, I went all the way through that and then received an email saying thank you but we cannot proceed with your application.

 

Wonder why?

[spudulike]

Perhaps your Mrs has fried the Credit card buying your Christmas Present

[Rob D]

15 hours ago, Rich Rule said:

Well, I went all the way through that and then received an email saying thank you but we cannot proceed with your application.

 

Wonder why?

 

Hmmm... you can always e-mail their support - they get back to you in 24 hours usually.

 

Soon they are getting rid of the straight buy option or at least they are making it so the minimum buys are higher.

 

 

[Rob D]

Ah got this from them the other day:

 

Dear Rob,   As a reminder, from December 15th 2017, Coinfloor will discontinue the Express Buy service, increase fiat and cryptocurrency deposit minimums, and reinstate trading fees. Coinfloor has established its position as the most liquid bitcoin to Pound Sterling exchange in the world. We believe that these changes will allow us to exceed our clients expectations even further, offering the most competitive fees in the market and the lowest in our history. Please note that Express Buy transactions will continue to be completed by Coinfloor Brokers until December 15th, but we will only allow creation of new purchases until the end of Tuesday, December 12th.

[Rob D]

Ok well another (seems UK based) way to buy is Cryptomate.

 

https://cryptomate.co.uk/

 

And in some ways better as seems you can buy the other coins here.

BUT - they don't seem to allow you to sell coins here only buy them.

 

I took my Bitcoin bought on Coinfloor the other day, traded it back to £ then sent it back to bank account and it came through a few days later. And that was with a small amount.

 

Normally it would not be worth doing small amounts due to the high fees but you really always need to test with a small amount first to make sure it all works...

 

 

If you buy on cryptomate then the procedure for sending to your Bitgo wallet is the same.