Tinker with a bitcoin purchase
I'd spent about $175 to buy less than a third of a bitcoin.
With the last few dollars I had, I turned to Tinkercoin, a startup in Canada that aimed to introduce bitcoin to new users.
Its premise was simple: People could buy their first bitcoin using a credit card, "just like anything else on the Internet," according to the website. The company would set up a bitcoin wallet for you, but you could buy from Tinkercoin only once.
When I signed up, I had to provide my Facebook account, and credit card and cellphone numbers.
All Tinkercoin users pay a flat fee of $25 to get $20 worth of bitcoin. On the day I bought bitcoin, it amounted to 0.02967667 of a bitcoin.
A recap of my bitcoin transactions:
|Bitcoin seller: Coinbase||Amount of bitcoin: 0.2||Cost: $108.43||Fees: $1.07 Coinbase fee plus $0.15 bank fee||1.1%|
|Bitcoin seller: LocalBitcoin (Eric101995)||Amount of bitcoin: 0.1||Cost: $67.25||Fees: $10.08||15%|
|Bitcoin seller: Tinkercoin||Amount of bitcoin: 0.02967667||Cost: $25||Fees: $5, plus an international fee of $0.20||20.8%|
|TOTAL||Amount of bitcoin: 0.32967667||Cost: $200.68||Fees: $16.51||8.2%|