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I understand that Coinbase requires either a bank account connection or a 3% fee for depositing using credit card (I think so, anyway?). But could I buy my first bitcoin from someplace that doesn't require bank account information and does not charge more than a 1% fee to buy bitcoin? I have looked at localbitcoins but the fees are too high. FWIW, I am in the United States.

Any thoughts would be appreciated, thanks!

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  • You either pay for privilege of avoiding legal compliance system or you bend over. But bitquick.co is worth of checking out. – Mikko Ohtamaa Dec 7 '15 at 19:40
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Edit: CampBX is shutting down so this is no longer applicable.

CampBX will accept deposits via mailed money order. A money order from the US Postal Service costs about $1.50, up to an amount of $1000, plus the postage to mail it to the exchange. You can buy a money order with cash, in which case no bank information is ever needed. The exchange then charges a commission of 0.55% on each trade.

You're unlikely to find lower fees for buying with credit card. The fees charged to the exchange by the credit card companies are substantial and have to be covered somehow. Moreover, credit cards present a substantial risk of fraud to the exchange.

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  • I think they get you on withdrawal fees, though. I think I'll just eat the fees elsewhere for now and see what's what later. – Dan Dec 8 '15 at 1:59
  • @Dan: I don't think they charge withdrawal fees, at least not to withdraw Bitcoin. I'm pretty sure I haven't ever paid any. – Nate Eldredge Dec 8 '15 at 2:00
  • Under the withdrawal methods section, they listed ACH, money order, and bank wire (all with fees). So I was going off of that. But I will see how they handle bitcoins. – Dan Dec 8 '15 at 2:58

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