Originally posted – August 28th 2014 – Read our updated review from May 2015 here. So the other day I was looking to buy some bitcoins, and had a very difficult time trying to purchase a small amount of bitcoin with normal consumer payment methods.
So giving up on that, I had heard that the guys in GSM Solutions on Upper Abbey Street (between Jervis St and Four Courts Luas stops) sold Bitcoin. They have a Bitcoin ATM there, but for speed (and because I have a PC wallet and didn’t want to have to install a mobile wallet) I opted to go for generate bitcoins from their till, just like phone credit.
I asked if there was a minimum, and they responded that any amount over €5 was grand. So I decided how much I wanted to buy, and had €30 on me so got that. In about a half a minute, they had printed off my bitcoins voucher. When I got home, I just had to visit the URL on the reciept and enter in my code and where I wanted the bitcoins sent. Immediately, my Bitcoin Armory wallet flashed up that a payment for the amount was received, and began confirming it.
Looking at the value I got, the amount I paid was €30 which included 13.5% VAT. For this I received 0.07712 btc, which means that inclusive of VAT, the rate I got was €389/bitcoin, and exclusive of VAT the mount I bought was €26.43, giving a rate of €342.71/bitcoin, which was pretty bang on the days normal euro rate over on btc-e.com .
So in review I found the process of buying bitcoins with cash very straightforward, much quicker, and less hassle than I expected. I’ll go back soon to try buying bitcoin using their ATM ofption, and share my experiences next week.