{crypto exchange guide}

joined sep 2019

share {crypto exchange guide} and generate bitcoin with reference codes.

12 topics on {crypto exchange guide}

13 posts

+16.8 votes

pinned

by Gouldy

Buying Bitcoins

pinned

by Gouldy

Buying Bitcoins

There's plenty of room for opinion that's what the comments are for :)

best overall exchanges
eu
kraken

uk
bittylicous

us
kraken

worldwide
coinmama

+2.8

Redcowie81

I have a wallet with coinbase can I us this to send bitcoin to vendors on lb

bpwmemmott

I use coinbase with no issues whatsoever

robbz1990

Yes I normally use coinbase to send to sellers

ReefLostCause

Does anyone use Paxful? theres sellers who want paypal as payment method and i'm wondering if its legit? the exchange rate is 99% on some offers that would save me a lot of money as i have no ID and being using coincoupon at £15 fees for each buy!

de tok

It's a danger zone for sure but a very strong rep helps, take it slow

BudBoy1980

now that most high street banks wont allow us to buy btc with debit cards, wtf are we gonna do?

tsb wont let me buy thru coinbase...

how am i gonna get btc now???

help!?!

:)

Noxa88

Find a bank that will…, Natwest stopped me then Santander then Starling then Starling must have realised we’re not in Nazi Germany so retracted that and now do let you, I’d say open a Starling account, then transfer from your bank to Starling when you want to buy, I’d also just buy as much Stable coin / BTC as you can in 1 hit then life easy, it’s there when you need it and there’s no way you’ll lose money long term anyways, kinda win win really.

jayspadez 8.2/10

Anything other than blockchain, right bunch of pisstakers they are

robbz1990

Can you use binance to pay sellers?

illirum

Btw. Ive been using the plain blockchain wallet for two years without any issues. Least hassle wallet Ive seen! And since I wont upgrade my OS on my mac its one of the few I can actually use. Just sayin, cause Ive seen how it is hated upon on the net. Guess its the competition that spread this lie.

illirum

Exchanges still cant beat the price of btc I get on localbitcoinsdotcom. The only hassle is I need to order btc and go to my local national financial agency and pay a money transfer slip with cash. Thats not a prob tho, cause the teller is a very nice looking woman :P And btc is in my wallet in 3-6 hours after I pay.

1 post

+1 votes

pinned

by {crypto exchange guide}

Favoured Reviews Format:

3 posts

+9.2 votes

by Serial Chiller Labs 9.6/10

Time for some Monero!

16 posts

+36.5 votes

by mrneo

Binance crippling fees

by mrneo

Binance crippling fees

I'm trying to make my first purchase and realised that:

1 - Binance has a minimum withdrawal of 0.001 BTC (about $47).
2- The withdrawal fee on this would be of 0.0005 BTC (50%).

Am I doing something wrong here? How do you guys avoid these fees? Which exchange do you use?

Thanks in advance.

+4.8

DankYou2021 9.6/10

Do not use Binance as there min fees are horrendous. Coinbase is a good wallet to use

Todd's Sure Thangs 9.9/10

exchanges come and go and so do their policies. its always best to have your own wallet. many free ones exist, just move your money there after you exchange a chunk. that money is truly yours and not captive to minimums or extra fees.

mrneo

Does that mean that if I buy let’s say £500 in BTC, pay the £20 binance fee and put it in my wallet (I use BRD but could use other), now that £480 is completely mine and can send it to other people (sellers here lol) for free?

+5.8

DankYou2021 9.6/10

Yes, as long as you convert it to a stable coin such as USDT. Otherwise your total will fluctuate with the price of Bitcoin. If you want your 500 to stay at 500 then convert it all into a stable coin

Noxa88

The cheapest way would be buy something like NEXO woth your fiat, transfer to a wallet for free then swap the NEXO for BTC in the wallet itself. Cheapest way it can be done.

Todd's Sure Thangs 9.9/10

yes my furry friend if its in your wallet its yours and there is no way it can be taken away or subjected to pinching.

Noxa88

LB only using BTC is a total fuck up imo, ridiculous to use a POW where it has to go through every single miner to prove work, there are a million other options that would be awesome, I mean NEXO is free… XRP takes seconds, BTC transactions for an 1/8 is retarded full stop.

Nickpj123

Hi, it is a minefield, it is easier now there is the multi vendor option to checkout! I use Bitpanda the minimum is 0.0015, but the hash rate tracks the market mwan I think, itisusually a couple of quid to make the transfer.

mrneo

Only a couple quid for a 0.0015 transaction sounds great to me. I thought the 0.0005 BTC fee was standard all across? Man so much to learn…

pollypuff20

Yeah, I use Bitpanda too…
Transaction fees change by the minute to reflect levels of activity on the blockchain. Bitpanda is generally cheap at weekends, particularly at night. It is then a couple of quid normally, but with that irritating 0.0015 minimum.
It’s pretty fast and easy though👍

mrneo

I’d imagine that if the price depends on the activity on the blockchain then it’s probably cheaper in the evening over the weekend on Binance too right? Is that kinda how it works?

pollypuff20

Yup…lower traffic should mean lower fees…

mrneo

Alright so in case there's another newbie like me around... I managed to sort this out! I avoided binance's awful fees by sending from my wallet (BRD) and payed only $0.70 in fees.

Much love everyone, and thanks for your help.

Marcw360

How do you use the brd wallet ? Is it just like binance ? Buy crypto then send to the required address ? Any help much appreciated!

8 posts

+18 votes

by daBiggaSUPREME

Bitpanda screwed thread

by daBiggaSUPREME

Bitpanda screwed thread

Is bitpanda still fucked for smaller transactions? It seems they have a minimum transaction threshold going.

theStrokes

If you have a small amount locked up by minimum transactions or crazy fees you can:

1 leave it in there as a small investment for a future purchase or two.

2 add more to it to then move all your coins to a wallet with no minimums and better control over fees.

The busiest times and highest fees on the btc network are when the price is going up. If you are holding a little while this is happening you are covering the fees with your gains.

Thadogglb

Think they do. Min amount you can send someone seems to be 0.0015 btc

coldspurs

im not sure how the exchanges play this but minimums on the blockchain and fees for that matter are a function of how many inputs are involved.

if your wallet is an accumulation of small amounts of bitcoin (like change in a pocket) thats a lot of inputs and it can make a transaction infeasible when fees are high.

pollypuff20

What’s the minimum?...Crypto.com is almost £120 now :(

Noxa88

That’s because it’s BTC, it’s simply NOT a transaction payment, never will be, never have been… The minimum is not £120 for Alts.

Khuunntt

Fee at £2! 6/3/21...18:00

4 posts

+21.2 votes

by generation last

buying crypto privately

+8.2

by generation last

buying crypto privately

1 - stay away from major exchanges like coinbase, they share the most data with the most other people
2 - an exchange outside your country is better than an exchange in your country.
3 - peer to peer exchanges are better than centralized exchanges but data saved by the exchange is within the reach of government authorities.
4 - bitcoin atms often only require a telephone number

ike

An independent wallet is essential to privacy. Transfer your coins from the exchange to an onboard wallet like exodus or an online wallet like blokchcain.com

wells

https://coinjoin.io/

yes, exchanges that hold your bitcoins with your identity are part of the global banking system and ultimately control both your funds and data.

you can go even further by mixing your coins so an analysis can not trace them, coinjoin does this.

1 post

+1 votes

by ReefLostCause

kucoin

1 post

+1 votes

by Khuunntt

Bitpanda fee £2

1 post

+2.2 votes

by smoko ono

CEX.IO 9/10

1 post

+5 votes

by smoko ono

Kraken 8/10

3 posts

+13 votes

by 5th time recht

Coinmama 8/10

1 post

+1.2 votes

by EoghanGannon

Paybis.com - 8.5/10

+1.2

by EoghanGannon

Paybis.com - 8.5/10

Paybis.com - 8.5/10

Summary:
Responsive team, nothing shady, OK exchange rates depending on the payment method, very fast, wide variety of payment methods

currency exchanged
GBP, USD, EUR->btc

exchange rate vs blockchain.com/prices
spread
Depends heavily on what payment method you use

Credit card: USD/EUR/GBP +11.2%
Neteller: USD +9.7% EUR +9.6% GBP +7.3%
PerfectMoney: USD +8.7% EUR 9.92%
Skrill: USD +9.7% EUR +9.6% GBP +9.6%
Payeer: USD/EUR +8.3%
AdvCash: USD +8.9% EUR +8.7%
SEPA (Europe): +2.63%
WIRE (USD): +3.19%

deposit fee
none, although the rates received with different payment methods differ a lot

live help
Yes, and responsive support in general

verification requirements
government ID and details for low level trades, for high value trades expect to be asked to show a selfie with your ID and possibly a handwritten note and credit card

time to verify
Very quickly for me, 12 minutes. The founder claims that most verification happens almost instantly, otherwise they have staff working 24/7 for manual verification. They guarantee a response about the inital KYC request within 5 minutes at all times. Their marketing slogan is "It just takes 15 minutes for new users to complete a transaction with credit card".

Online consensus on Paybis:
After trawling through forums and review sites, I can't see anyone saying that they screwed them ever. Their rates for certain payment methods are a little high, but the wide array of possible methods as well as the customer support and speed they process is well received. They have a good 4.7 score on TrustPilot, and they send the TrustPilot review link to every customer.

Overall:
I was impressed with Paybis and I'm surprised they aren't mentioned more often in discussions of good exchanges. They are transparent, fast, professional, and trustworthy, even if their rates for some payment methods aren't number 1.