Hey all, I've been discussing with our receivers and the increasing and consistent volume of MoneyGram orders is starting to add a feeling of scrutiny. As a result, starting with all new orders that come in, we will be once again trialing Bitcoin only payments.
I understand Bitcoin is very foreign to many people, but let me explain several very easy ways to get and send Bitcoin.
1. Circle.com or Coinbase.com- this it the easiest way to buy and send Bitcoin. For beginners, I would just choose one of these to use as your wallet, basically it holds your Bitcoins for you. Now, if you wish to buy Bitcoins using this service, you will need to link it to your bank account. For most, this is synonymous to showing ID with WU/MG. However, if you would are worried about security and the tracing of your Bitcoin, you can set up an LiteCoin account and use this service shapeshift.io service to send your Bitcoin from your Bitcoin wallet to your Litecoin wallet and back (it does it automatically). This should largely shuffle the tracking of your Bitcoin.
2. Use Localbitcoins.com. Using this service, you can buy Bitcoins using MoneyGram, WU, Cash deposit, Cash in mail, cash in person locally, paypal, etc. Simply ask for my Bitcoin wallet address, pay the verified and trusted Bitcoin seller on localbitcoins and he/she will send the Bitcoin directly into my Bitcoin wallet. Or the seller can send the Bitcoin to your own wallet at Circle.com or Coinbase.com. Then you send that Bitcoin to me.
Method 1 takes a few days to verify to be able to buy Bitcoins, but you can do so easily and without going to the store.
Method 2 can be done instantly and today, and you have more options for payment options. Instead of sending WU/MG, etc to me, you send it to another verified individual on LocalBitcoins and he/she sends me the Bitcoin.
I know another concern is the fluctuations in Bitcoin value, this will be a non-issue with us. I will give you a quote in current Bitcoin rate and cash that is all you have to send the lowest value one. So if the price goes up or down, you will be protected from losing money from this change.
I know for some this may seem daunting and frustrating, but please understand that this is the direction that may sources are following for the safety of themselves and their customers. If you take the time now, it will save you time in the future in terms of going to the store to send WU/MG. For those adopters, I promise you this form of payment will be immensely easier for you- it just takes an initial investment of time.
Feel free to ask me any questions.
Thanks for reading.