Hi @loonyfool which country are you from? Here in the Philippines, my only choice at the moment is to buy BTC first and transfer it to Bittrex. And in the process and the current fees, my capital loses a lot of value.
RE: Bitcoin Transaction Fees are Outrageously High (Lowest Fee at approximately 50 USD)
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Bitcoin Transaction Fees are Outrageously High (Lowest Fee at approximately 50 USD)
Here in France, or more generally in Europe, Kraken seems the best solution for the fees. I'm soon buying ethereum and bitcoin, keeping some to hold it and the other part in investing in other altcoins that are likely to burst ; but I have to find a good site for exchanging that's all
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I have also heard that Kraken is popular in Europe. I only have a few choices here, you may have more options as I see a lot of Europeans into crypto. Good luck on your search and Merry Christmas!
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thanks, you too, yes Kraken is the best solution in Europe for lowest fees, but the fact there are more options is not particularly good either, because we gotta make our own research to know which site is scam, ponzi, or not serious, like hacked easily, and what isn't ; and I trust kraken with all the research I've been making before entering this world without any regret. And don't forget one thing : it's always better not to leave your coins inside a site's wallet; go on here to create a free wallet if you want https://blockchain.info/
and even more secure is storing it offline on a hardware, like ledger or USB stick, so that the coins you wanna keep stay safe without a doubt, without any risk. https://news.bitcoin.com/bitcoin-bank-less-thirty-minutes-usb-drive/
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Wow thanks for the additional tips. I'm guilty of leaving some alt coins in a site because they're still cheap (but of course they may be worth more in the future. I'm still looking for where to buy a ledger or trezor here because it's overpriced here .
I do agree more options means more research. You make a really good point on that there may be ponzis. Here there are really few exchanges which makes them expensive because there isn't much competiton and some are always out of funds because they're the only choice.
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anyway, always choose the less costly solution. I prefer to create a coin bank on my USB than buy a ledger, they are all very overpriced. But of course before doing that, you can still store them in an "offline wallet"; I guess blockchain.info is the best solution, just getting it out of those sites is safer, so that if they're hacked, you won't have to worry at all. By the way, do you have any good advice for a pure exchanging site to get altcoins ? I have managed to find a site to buy, but to exchange it's very complicated as both bittrex and bitfinex are overloaded, they don't accept new members for now, so I'm really struggling hard to find one, avoiding coinbase because it's clearly a scam, it steals people's money and adds fees ; so I'm left to search for now; anyway, I have ethereum so I can keep holding it until I find somewhere to exchange part of it for altcoins; that's my main strategy; if I do manage to find a site to get some Electroneum it would be perfect; I will make a post about my study on this coin soon so that you all get to know an objective analysis and why I take a gamble on it. On Iota and Eos too.
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I didn't know you can make a USB coin bank! I just searched on how to do this and it looks complicated for someone non-techy like. There are tutorials but I would have to really understand it. And yeah for now I'll try blockchain.info. Thanks for the tips! :)
I have only used Bittrex and Shapeshift. I have used Shapeshift once in my multi-currency wallet but it's really expensive but fast. I have seen a lot of ads about Poloniex but haven't tried that. I will also check out Binance because I read that they charge smaller fees than Bittrex, plus they hold some coins that are not in Bittrex like IOTA.
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ok thanks, well, as for the USB coin bank, I'm new to that kind of things too so obviously, I'm still learning the tutorial I sent you; I know I can do it from a tutorial; but for now I'm relying on blockchain.info; just don't forget to write down your password somewhere because it has to be really complicated. As for the sites, I was almost buying ethereum on kraken but I saw at the last moment how ridiculous their service was; to sum it up, the site may not ask you fees, but you have to talk to your bank to do it and those really make you pay fees; ridiculous thing, considering I wanted to avoid my bank by doing that, in order to be more and more independent from banks; so I'm looking for a site with direct paypal payment through credit card; with the ebay things I've been buying so far with paypal, it's a terrific service, fast and satisfying, so I'm sticking to it. Then once I have ethereum I will hold part of it and put the rest in an exchange site like bittrex or bitfinex, those look pretty overloaded at the moment, so I may find other sites, because you can't even sign up right now.
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Is paypal for crypto ok? Coz here they charge a lot. It sure is convenient but the fees are high. And yes, we don't want to use banks. The vision of cryptocurrencies is to do away with them.
We have "over-the-counter" bitcoin and ethereum here. Maybe you would have it there too? It's not as convenient because you have to go there personally. They work like money exhangers so the buying and selling rate is just higher by about 4% and that's where they earn. No extra fees and direct to your wallet. And since it's a face-to-face transaction, you can be confident that they're not a scam. :)
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