Bingcoins is a peer-to-peer bitcoin, altcoins exchange. We are a marketplace where users can buy and sell bitcoin, altcoins to and from each other.
Users, called traders, create advertisements with the price and the payment method they want to offer.
You can browse our website for trade advertisements and search for a payment method you prefer.
You will find traders buying and selling bitcoin, altcoins online for more than 60 different payment methods.
If you're new to Bingcoins and want to buy bitcoin, altcoins, please take a look at our how to buy guide to learn how to buy bitcoin, altcoins.
To help you get started with your first bitcoin, altcoins trade we've made two short guides to answer all your questions.
All online trades are protected by escrow. When a trade is started the amount of bitcoin, altcoins for the trade is automatically reserved from the seller's Bingcoins Wallet. This means that if the seller runs away with your money and does not release your bitcoin, altcoins Bingcoins.com support can release the bitcoin, altcoins to you from escrow. If you're selling bitcoin, altcoins, never release the escrow before you know that you have received money from the bitcoin, altcoins buyer.
Please note that local trades do not have escrow enabled by default.
Next to each advertisement on the website the price of a bitcoin, altcoins for that advertisement is shown as currency per bitcoin, altcoins. For example, if we are buying bitcoin, altcoins with the currency US dollars the price would be shown as 7500 USD/BTC. This means that if I wanted to buy 1 bitcoin, altcoins it would cost me 7500 US dollars.
Can I buy less than 1 bitcoin, altcoins?
Absolutely! In each advertisement you see what's called limits. That shows you the least and the most amount of bitcoin, altcoins that you can buy from that advertisement.
One bitcoin, altcoins can be divided into much much smaller pieces, the smallest piece is called one satoshi and is the same as 0.00000001 BTC.
One of the best features of bitcoin, altcoins is that it gives you control over your money, but it's also this feature that makes it very different from traditional money. bitcoin, altcoins transactions are irreversible, most traditional payment methods can be charged back. This creates risk for the person selling the bitcoin, altcoins, as PayPal or a bank can take the money someone paid him out of his account after he has sent away the bitcoin, altcoins. That is why traders need to have a high price for certain payment methods, to protect themselves against this risk.
That is why we recommend for you to get the best price to pay using a hard to reverse payment method, such as Cash Deposit, bank transfers and mobile payments (Like Qiwi in Russia). When you search to buy bitcoin, altcoins, select All online offers as a payment method and you will see offers for all payment methods and you can choose one that is convenient for you and offers a better price.
What happens when I pay, and the seller doesn't give me my bitcoin, altcoins? All our online trades are protected with escrow to prevent this from happening. When the trade is started, the bitcoin, altcoins amount for the trade is taken from the sellers wallet and is held by Bingcoins for the entire time of the trade. If the seller is trying to scam you, it's easy for you to open a dispute on the trade and our support staff will contact you to ask for proof that you have paid and then give the bitcoin, altcoins to you.
We have two different types of trades on Bingcoins, local trades and online trades.
Online trades occur online entirely through our trading platform without you ever meeting your trading partner. Escrow is automatically enabled and funded for Online trades, meaning that as a buyer you’re automatically protected by our escrow system. Most of trades on Bingcoins are online trades.
Local trades are meant to be carried out face-to-face, and escrow is not automatically enabled. Because of this it is not safe to pay the seller using an online payment method in a local trade.
Online payment methods are, for example, bank transfers; PayPal; Gift card codes etc.
If all goes well bitcoin, altcoins transactions sent with the correct fee take between 10-60 minutes when you are sending bitcoin, altcoins to your Bingcoins Wallet. If your transaction is taking longer than this, please check that the fee is correct.
Transactions between Bingcoins users are instantaneous.
Transactions you send from your Bingcoins wallet are sent with a high priority fee to ensure they confirm within approximately 20 minutes (within the next three blocks).
I've waited 60 minutes and my transaction is still pending, now what?
Your bitcoin, altcoins transaction was most likely sent with a fee that's too low or the bitcoin, altcoins network might be experiencing congestion, in this case transactions will take much longer to go through.
bitcoin, altcoins transactions have to be confirmed by the bitcoin, altcoins network before they are usable from the wallet they are sent to. You can read more about confirmations on the bitcoin, altcoins wikipedia.
To check the status of your bitcoin, altcoins transaction
You can buy bitcoin, altcoins without having a mobile phone, but you will be limited to which advertisements you can reply to. By verifying your phone number with Bingcoins increases the number of advertisements that you can contact.