So i am looking a buying a few bit coins to hopefully trade later for a profit.
The Wallet I'm using is Coinjar which is an Australian company, to verify my account they want a proof of Identification including a drivers licence or a passport. I'm not too keen on giving them this information. Is this standard practice for bitcoin wallet services? does anyone here use coin jar? what did you guys have to do to buy bitcoin in your country?
opinions and help from you guys is much appreciated!
To buy Bitcoin in the UK via cubits I had to video-chat someone and show them my drivers license. Pretty standard from what I understand.
Check out localbitcoins.
Just out of curiosity: What makes you think that Bitcoins will continue their rapid rise?
its a booming its a bust its a booming its bust.
pro tip bitcoin prices are so unstable that even a betting man like my self would not buy any. and yes all online transactions have to be made with use if ID unless account was made before that requirement was introduced and has stayed active. (or if you wanted to remain an annon make/buy a fake ID.
Sadly it is standard practice to provide a ID and proof of address with most bitcoin services that sell the end user bitcoin. A lot of people believe bitcoin would be a fabulous money laundering tool, even though cash is much better. Because of this AML/KYC (Anti Money Laundering/Know your customer) is very strict.
Options in your country are pretty limited. But however you do purchase your bitcoin PLEASE keep them in a wallet on your local computer. Bitcoin gives you the power to cut out the middle man and store your currency yourself. Exercise this right and your bitcoins will be much safer because of it. Just keep multiple backups and encrypt the wallet.
Bitcoin is a volatile market and is not for the faint of heart. But many people including myself are very optimistic about its long term potential. Best of luck in your investment.