The coinbase and Circle Struggle
A couple of years ago I was in Puerto Rico mining Bitcoin and buying Bitcoin from coinbase. I was just a regular kid in love with Bitcoin. Suddenly, I purchased a Bitcoin miner that got my bank account in a negative balance and the bank started charging me a lot of fees, including a five dollar fee per day while I had my checking account in a negative balance. It was ridiculous. I got mad and I decided to go full crypto so I closed my bank account. A couple of days later I added my best friends bank account to buy more Bitcoins and it worked pretty good. Later on, another friend gave me his bank account, because he wanted to invest in Bitcoin. Everything was working completely fine.
I moved to Miami and the struggle happened. I linked my new Bank of America bank account on my coinbase account and I got banned from using all coinbase services... They did not give me any explanation, they just banned me for no reason. I sent them an email and they replied to me that I am committing fraud and they will not offer me their services again. Then, I discovered this great service called Circle. This service was working better than coinbase, instant Bitcoins, very low fees, I was pretty much in love with this service. I used it for almost over a year, buying Bitcoins on each pay check. Finally, from night to morning, waking up to a nice monthly commission check, I try to buy some Bitcoin for myself and suddenly, Circle stopped selling Bitcoin...
How is it possible that I cannot buy Bitcoin with my bank account securely nowadays? I cannot just take my iPhone out of my pocket to buy Bitcoin... It's a very difficult situation.
What would you suggest? Thanks for reading!
Bitcoin: 1Q8iwgVkDh8YuJXwk7wS7iWq72yeSMsyQG
I ran into the same problem. Used Circle because they had higher bank limits ($3000/week) and Coinbase only allows $250/week. Takes 7 weeks to get enough in there to buy an S9 miner. That is not acceptable. I am also looking for a new option.
I found a similar service like Circle, but it is not instant and if you want to get your Bitcoin instant, you have to submit your social security and a lot of information about you in a support ticket. I will send you the link if I find it back, I really didn't like how the service worked, but it seemed to be legalized in California.
Thanks for the response. I look forward to receiving the link you can find it.
@milian - I've upvoted your post because I think it may help other Steemit users going through the same situation as you do. Also, sorry you are unable to buy your coins even if you have a bank account and the cash to do so. i think what you are experiencing here is an example of how western governments have managed to successfully put a "shadow ban" on Bitcoin and by extension, on every other other cryptocurrency out there. Basically part of the governments strategy has been to make it so difficult for folks like you to buy Bitcoins that they hope you'll eventually give up trying and go back to using Paypal and prepaid cards. But most people are not aware of this shadow ban. They still go around believing that they are free to use Bitcoin like they do cash and credit cards. But that is a myth. The only reason Bitcoin is still considered legal is because many governments don't want to ban it outright (yet) out of fear of political backlash but they have incredibly restricted its use by making "you the user" go through so many hoops, that in the end it's not worth it for you to spend that much time just trying to make Bitcoin work for you. What I just explained is a quick, very quick way to describe the governments' successful "shadow banning" strategy of Bitcoin. There is more to it. But bottom line, it's time that people in the western world stop believing in Santa Claus and accept the fact that they are NOT really free to use Bitcoin.
It's very frustrating... I am going to ask my boss to get my commission check paid in Bitcoin, at least half of it. It's no way out thanks to these Bitcoin regulations. Lets see what happens, keep in touch!
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