This is a common question from new and uneducated bitcoin buyers that join website like Paxful.com and Localbitcoins.com. Those bitcoin buyers don’t want to give up their private information or 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.
Some of these buyers are simply uneducated and once explained to them they understand. To them we offer the explanation below.
Others do not care about the value, privacy, speed and service that is offered by a professional bitcoin seller. They want Coinbase prices while demanding personal service/speed (these whiners are also known as spackers), These spackers will complain and make excuses no matter what. There is really very little difference in their behavior and a scammers behavior (both whine and complain about everything, trying to throw you off).
I suggest anyone curious about high bitcoin prices do a few things that will help them better understand the pricing structure of buying online.
- 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
- Pay the fees that come with taking certain payment methods or turning that back into bitcoin
- Suffer through the price volatility and losses when you buy at one price and an hour later the market drops $30 per bitcoin
- Deal with the uneducated people that start trades and waste time by not reading advertisements, 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 you.
- Accept the losses from scammers because no matter how careful you are, you will eventually gets scammed. Even the best sellers get scammed, especially with Paypal.
- Deal with having bank/checking/wire service/reload card/paypal accounts shut down and having to find new ways to accept payment
Before you complain consider how much money you would need to make on each trade to deal with all that. Most would agree $5.00/10% on a $50 trade isn’t worth all that trouble.
If you a user that has done all of the above please leave a comment and let us know if you would waste your time with a spacker who thinks a higher mark up is unreasonable.