Circle bitcoin customer service number
The company says it has invested in military-grade hardware as well as in sophisticated multiple-signature architecture for authorizing transactions and cold-storage wallets. It will also provide customers with free insurance from theft. All customer money will be held in reserve although not in segregated accounts , and the business is regulated as a money transmitter. Bitcoin links to bank accounts and to credit cards.
Most banks do not charge fees to transfer funds but Visa and MasterCard both charge cash advance fees to make deposits into another service, such as Circle. In most cases, it is better to make deposits from a linked bank account where you will not be charged cash advance fees.
Circle helps customers keep track of their Bitcoin holdings in order to comply with the IRS guidance issued this year that ruled Bitcoin is a commodity and subject to capital-gains taxes.
Your current balance in the Circle account may be displayed either in Bitcoins or in a number of other currencies. I chose to display my balance in both Bitcoins and in U. The funds are actually kept in Bitcoins and the balance that is to be displayed is calculated by using the current exchange rate.
I downloaded the Circle app for iPhone and quickly configured it. I have used several other Bitcoin apps before and the Circle app was loosely similar.
I did have to provide my full name, address, email address, and cell phone number so that I could receive text messages concerning Circle deposits, withdrawals, and similar notices. I then linked my checking account by entering the account name, routing number, and account number. A message appeared stating that two tiny deposits would be made to my checking account and that I would have to verify them once the deposits appeared in my checking account.
This is expected to require one to three business days. Not wanting to wait, I then transferred a small amount of Bitcoin from a different Bitcoin wallet I have to the new Bitcoin address created by Circle. The funds appeared in my Circle app within a few minutes. Funds can be sent to another person by scanning a QR code or by specifying a Bitcoin address or an email address. The funds are always sent in Bitcoins so it is up to the recipient to receive the funds and to convert the Bitcoins to his or her local currency, if desired.
Circle appears to be a well-thought-out application. I found it to be extremely extremely easy to use. Perhaps the best feature of all is the ability to send funds anywhere in the world free of charge. There are no transfer fees or currency exchange fees. This makes it much, much cheaper than Western Union or bank transfers or purchasing checks written in foreign denominations.
In fact, it is also cheaper than most other Bitcoin services. I plan to use Circle to make all future withdrawals from my checking account simply because there are no fees to do so.
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