Bitcoins

[PomPui]

Does anyone have experience of using Bitcoins?

Never used them before so not exactly sure where to start.

I have found https://coins.co.th/en/ and I can pay for them via my Bangkok Bank account which should make things very easy.

Cheers

PomPui

[ChaangNoi]

I have pretty good experience using bitcoin. I would not use the site you listed personally. The guy has made some pretty crazy claims in the past that "bitcoin was illegal" and has caused a lot of trouble.

A more established and better way to do it would be localbitcoins.com

The company is more or less only an escrow, it is fast and easy.

If you need any help with bitcoin please send me a message or ask in the thread.

Peace

[PomPui]

Thanks ChaangNoi,

I will check out your link now.

Cheers

Pompui

[NCC1701A]

bitcoins are illegal in Thailand? yes?

[ChaangNoi]

bitcoins are illegal in Thailand? yes?

Not at all. The service that Po,Pui was going to use was the source of that claim. The farang running it failed to get a good translation from his lawyer and told the media. Media reported it as fact. There was no legit source at all.

Next day in the BKK post there was a small piece showing how bitcoin was as illegal as having the British Pound or gold. 100% not illegal at all.

[RichCor]

Funny story of people who should really have done more research before trying bitcoins on curiosity:

...and the followup story:

Where We Went Wrong Buying a Bitcoin from an ATM

tested.com | by Norman Chan | April 2, 2014

The first mistake was buying the Bitcoin.

Social Sarcasm/Commentary:

Better to go all in and 'mine' your own bitcoins. That way you own them (actually, they own you).

[pancakeman]

You'll get a better rate trading on https://bx.in.th/

Current rate to buy on BX: 8,459 + fee 0.25% = 8,480THB

Current rate on coins TH: 8,470 + fee 1% = 8,554THB

Almost 100 baht cheaper.

[ChaangNoi]

Odds are much higher you get your coins from localbitcoins.com rather than from that crazy guy.

bx.in.th and coins.co.th is the same guy. Why have two faces going? Odd. I don't trust a liar.

[ukrules]

I've used another Thai Bitcoin site, I've bought and sold hundreds of thousands of Bahts worth of coins there, never any problems.

This one https://bx.in.th - I think it might be operated by the same company but I don't know. You can pay money in using the ATM and withdraw it using direct bank transfer.

It's handy for payments up to a few hundred thousand Baht depending on the orderbooks which can be a bit slim at times.

[ChaangNoi]

@ukrules, it is the same guy. I personally would rather use the larger more established decentralized method even if it is a bit higher cost than some single farang who has no idea what he is doing legally. If his bank account is locked, what will you do? If he runs with the money, what will you do? The other site you have the coins in escrow. I'm not sure why you trust some guy with 100,000 Baht just because he has a website. Seems crazy to me!

Edited September 28, 2015 by ChaangNoi

[PomPui]

I only need $50 worth.

Have to admit I struggling to get my head around this but as always a good way to learn

Cheers

PomPui

[ChaangNoi]

Well for $50 do whatever I guess. Saving money wont be much and the loss of $50 wont kill you.

Glad more people are getting into bitcoin, once people have it and can use it, it will be better than using anything else online.