This is a common question from new and uneducated bitcoin buyers that join websites like Paxful and Localbitcoins.com. They don’t want to give up their private information and wait days to receive BTC from exchanges like Coinbase. They also don’t want to pay for the service, convenience and speed professional bitcoin traders offer.
To those who complain about high prices, I suggest they do a few things that will help them better understand the buying online pricing structure.
- Deal with finding a regular bitcoin supply and scrambling to meet the demand of regular clients.
- Put your time into meeting/buying/selling/transferring the bitcoin
- Pay the fees that the different websites charge for transfers and sales
- Suffer through the price volatility and losses when you buy at one price and in 6 hours the market drops $300 per bitcoin
- Deal with the uneducated people that start trades and waste time by not reading trade requirements, asking foolish questions, whining about prices, demanding they be allowed to pay less or with a different method than the ad they just agreed to states
- Risk losing hundreds or even thousands of dollars because there is often no difference in the behavior of a mentally handicapped buyer who doesn’t know what they are doing and the behavior of a scammer that is trying to steal from someone.
- Deal with having banking/checking/wire service/reload card/paypal accounts shut down and having to find new ways to accept money
Would you go through all of that to make $10 on a $100 trade?
If you have done all that please leave a comment and let us know if you would waste your time with a spacker who thinks that making 15% is unreasonable.