Crypto virus tutorial continued

We continue to follow up on this crypto virus tutorial I think we are going to call this. The last one I told you we had created this coinbase and I created an account. What happened there we finished off it took too long to acquire those funds. So we had to find another option. I went into the account and they allowed an instant option. The problem there $200 limit per week that’s with a credit card only, no debit cards.

So I went that route I didn’t know that there was going to be a limit on there so went through that entire process in the end $200 limit so this is not going to work either. From there I just started searching again online, making calls,  where  I am right now is I went to this site called the LocalBitcoins and here is basically an exchange.

Actually let me get back to coinbase. Coinbase themselves has an exchange which does instant transactions. But their exchange in Florida is not active or doesn’t allow it so that kicked me back out.

Working with bitcoin exchanges

Going back to LocalBitCoins. I spent some time here seeing how this works. The bottom line is this is a site where you know people are selling and people are buying. You can see these prices this here for example. The prices vary on a money gram. $246 which is close to the bitcoin price that we see over $240. I guess the exchange rate in general. But after that this is an open market. Depending on how you are going to pay let me show you this.

If you are going to pay in cash I took a look at this.It finds local people. A little risky these people here have a few transactions. And then some of the people that do have a lot of transactions have tons of requirements. It’s a little scary there.

Safely paying for Bitcoin

Let me just show you this. The cash you can go here for example was looking for something a little safer like a PayPal. So if you go here and you go PayPal you want to find something a little safer. You can see that these numbers changed. Now this guy here $268 which was kind of cool.

But they also have limits on top of that once I go there. this guy has got a 100% rating. 100+ transactions you know 500+ transactions and then you come over here and then his limit.

Locating someone to exchange with

This other person here all kinds of requirements. Ids to be exchanged which this is more legit than I expected. Basically what I am telling you is you have jump through the hoops to get these things as well. So now since I am jumping through these hoops I am just recording everything. What I wind up doing is I find a guy he here. He was doing PayPal with a very low transaction. Let me see if I can find him again.

Continuing with Paypal

He had a $10 transaction, one way for me to test this out and see that it’s working. So if I can find this character here.I found this cat here this username ola95. You can see the exchange rate which is higher $298 from the other ones were like in the $250s.

So this guy had allowed PayPal payment and it was for $10. He kind of has like an introductory thing which is kind of smart. Basically I want to see how this whole thing penned out.

The catch with local sellers

I really haven’t decided on using him but I just really wanted to see how this thing works, if the money goes into the accounts so I just did a $10 transaction with him. And interestingly enough there was a twist, a change of events here, you see how he has it with PayPal but actually when you go to his instructions what he asks you to do is to buy a gift card with PayPal and then send him the gift card.

Now, the interesting part here is the gift card is a company called GYFT and they provide gift cards for all kinds of major retailers.

So I guess he is fine we are just taking that money is going to spend it anyways, you know amazon you can spend it BestBuy…huge companies. I’m familiar with that company GYFT because I have actually been using them myself so that helped me out because I have been using it for a while this right here.

For all my eBay, amazon, BestBuy all those purchases I already had an account and everything so I knew that was legit otherwise I would have had a concern about giving these people money and doing the whole thing. So that frankly helped me out a lot because I know they are reputable so that worked out.

Finishing the transaction

So I did my transaction with him, it took like 2 minutes I sent him the $10 and the gift card he has the instruction there for it it’s not like it’s complicated I am not going to go into that detail. And as soon as he got that card within 2 minutes, let me see if I can show you here it’s actually on screen…so if you can see right here I sent him this gift card at 9:13 this obviously is not the time here and then 9:14 done so it’s super, super quick and then I am going to show you when I purchased it was like .3 bitcoin and I apologize this video is terrible nasty but I just want to get this done and frankly I got to get hustling with this thing.

Just want to show you how that worked out and that’s it right there, so received a .033 bitcoin today and that’s pretty much it.

It’s complicated

So this bitcoin thing if you got it it’s way more complicated than you think and this client that I am working with I guess is pretty sharp, he knew this was going to be a headache. I had no idea that this was going to be so complicated but it’s pretty awesome that I’m going through it and helping you all.

So basically where I am right now I’m going to go to the crypto site make sure that that site is still up and active, that that site is not down and I am going to confirm with my customer because this just upped the price.

This is going to cost him over $500 because we are going to pay $300 3.2 so it is going to be like almost $650 and change. So I am going to confirm with him, confirm that the site is up and then we’ll come back here and do the rest of the transaction I’ll show you that as well and from there we’ll make the payments and see how that goes.