[aaron-lebo]

When I said signing up, I meant the whole process of getting to where you can actually exchange USD for Bitcoin. On Coinbase they ask for bank account information, and that can take several days to verify.

There is no process of identity verification on Circle before you can actually buy Bitcoin from them?

[epaga]

No there isn't. I have no idea how they pulled it off, but it really is instant. In less than 5 minutes, I went from not having a Circle account to having a Bitcoin transaction on the blockchain transferring BTC I bought with a credit card to my own private wallet.

Circle is amazing.

[aaron-lebo]

The issue with this (as you probably know) has always been the danger of chargebacks.

I ran across a reddit post [1] discussing it. I dunno if they've completely dealt with the issue, but it is pretty fascinating to see they are even trying.

[1] http://www.reddit.com/r/Bitcoin/comments/2hvld5/let_me_addre...

[dwild]

Is it possible to charge it as a cash advance to avoid that issue? It's essentially a cash advance...

[gst]

You don't need to verify a bank account. Just link a debit or credit card - instant without verification.

[gress]

How is obtaining a credit or debit card instant?

[aaron-lebo]

You could walk into a Wal-mart or CVS with cash and buy a prepaid debit card. Not instant, but not especially difficult.

[gress]

True but it puts paid to this ridiculous idea that transferring money via Bitcoin is somehow more convenient than regular banking.

[modeless]

I know what you meant. No, there is no delay after signing up before you can buy Bitcoin on Circle.

[aaron-lebo]

No kidding. That argument is outdated, then. Thanks for the heads up.