Bitcoin Forum

Hello everybody,

I have a question :
How do you keep your fiat at hand to buy bitcoin when you feel it's the right time?
Indeed it takes 2 days to get a SEPA transfer on a exchange plateform. So where do you keep you fiat? On the exchange platform?

Thank you

For instance I think right now I should buy some crypto because the market is low... But I'm waiting for my SEPA transfer !

I never bought bitcoins using a bank wire, so I can not tell you. However I never waited to buy when it is the right time because for me anything under 5000$ is the right time, so as soon as I have free fiat, I buy.

i don't buy bitcoin i like to mien them via altcoin, but my sepa usually is done in on 8 hours, if i send in the morning or the next day if i send after 10:00 am

which is pretty fast, therefore i don't feel the need to have money on the exchange ready for trading

Agreed, as mentioned anything under $5000 is truly a good price to buy. Because the early adopters got it in a very simple price and later we too got the chance of buying at an affordable price. The upcoming generation middle class people may afford a portion or a small part of bitcoin.

I feel that the message from the OP was aimed to the people that are day trading because I have a feeling that he knows that the price of Bitcoin going to be much more expensive in the near future.

I would want to make some money through Bitcoin so I am just going to store it.

Well bitcoin is going through the roller coaster ride currently. Its gores upswing  for few days and falls back. So would not suggest to buy at the current levels. Might be from here it will require some major push to move forward. So one can save the fiat to buy at the later stage if price dips more below 2000$.

Yes but here is the problem... When it goes below 2000 $ I want to be ready to buy it. The problem is I don't trust an exchange platform to keep my fiat currency...

First thing would be to change your bank.
Never experienced more than 24h delays unless it was weekend.

And yeah, having your funds sitting on an exchange is asking for them to be taken.
Look at it like trading.
It's only a small possibility that it will all go to 0 but the possibility exists.

I also agreed due to the fact the Bitcoin price always changes and its quite need Monitoring for you to earn more or not to lose big in your investment through Bitcoin. If you are going to buy Bitcoin using fiat make sure to always consider the price or the value of both bitcoin and fiat because this is the key for you to make a good start on Bitcoin investment and trading. You could also try making partial steps on buying so when you hit your target price you could buy again.

Really in my case it's too rare to buy bitcoin, Usually i tried to earn them by working in the internet or giving some services, gambling or trading etc...
I remember that just one time i use my Neteller account to buy some bitcoin with my xapo account, Because Xapo allow to buy btc using neteller account. This is my strategie to earn btc.

i am also in the same boat, i am from india., and wire transfer takes 2-3 days to exchange and bitcoin rates wont stay same for 2-3 days., so i found localbitcoins for instant buying bitcoins, but there prices are way much higher than of exchanges like bitstamp and btc-e.
and keeping money at exchange is not safe.

I use localbitcoins and bwni to bank transfer with a trader using the same bank. It is instant. No seriously it's instant. It's amazing for a Bank. I just wait for the bitcoins to go through and done. So I can buy bitcoins or sell them on the fly within 30 minutes and sometimes as low as 5 :)

In my country, exchange provides option to load money on platform using Net Banking so I instantly upload money when in need to bitcoins. It is 1 minute process to buy bitcoin using bank money in India.

First, I always prefere earning bitcoins instead of buying but if I have to do that my choice is localbitcoins. I have experiences of the fastest and most convenient buying of Bitcoins that way. Options that include deposits and transfers I don't prefere because sometimes this can take time, meanwhile the price can change and then you have a problem.

All I do is sell high and try to buy the dip, and if I am able to keep fiat in an exchange for an extended period of time then I will keep my fiat in there until the time is right. Most of the time that comes from selling BTC I earned from various jobs I do for it, and then waiting. I could have way better profits if I decided to dump fiat into Bitcion and play the market that way, but I feel like there is less at risk if I only trade what I worked for.

although no one know about the price of bitcoin either it will go high are low. but if we study the market may be some people are spreding some wrong news about bitcoin which is creating problems and compelling people to start panic selling, but i am sure that they wll not be succeeded, because people are now became mature and they are in fact giving good support to bitcon and therefore its price is not dropping any moer.

You could use Coinbase or something along those lines which allows you to have a USD wallet, that pretty much gives you the ability to buy in and out of Bitcoin at any moment without having to wait for a bank transfer or something like that. It's always nice to have that there, I think other exchanges allow it as well such as BTC-E and there are probably more of these, it'll just take some digging on your part.

It's not too hard, you just have to find a reliable exchange as well which is going to not just go down in an instant.


LBC is going to help you have the money be in instantly, this person wan't to buy on the actual instant without fees.

I don't really use banks to buy bitcoin. I have my local exchange here that accepts walk in deposits to get your bitcoins at a slightly higher rate than the market. Whenever I receive my salary, I immediately remove 60% of it and go directly to my exchange and buy. Anything below $3000 is still a good buy. Been trying to say that to myself since I started to buy in 2014 and build up my coins slowly.

Maybe you are trying to make a SEPA transfer on Saturday? That's could be the reason why it takes 2 days because it takes less than a business day but "if you don't deliver before 10 o'clock, it will be taken in the next run on day + 1" I don't buy bitcoins in the exchange too, too much verification and too much stress until this happens.

If you want to jump into bitcoin when the price goes down then keeping you money in exchanges is the only option,i am not sure whether these exchanges opt for neteller or other similar services as i am not used to deposit fiat like that in the exchanges i am using,if not keeping money in exchanges is the only option and make sure you enable 2 fa.

I seperate $400 from my monthly salary to save more bitcoin. In other words, I spend fiat monet to purchase more bitcoin every month.

That's surely a problem but you can surely have a idea with thw curremt price of bitcoin that the price won't change much and you can make a transfer. Or if you have a price in mind just make a transfer prior to that and when that particular price is there buy it. Local bitcoin can also be helpful but unfortunately in my country the fees is as highas 25%

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Unless you are planning to buy big amount of bitcoin then you don’t need to buy in an exchange, just hold cash and buy in local bitcoins, you will get your coins immediately and then the only thing you need to do is to send them to your exchange.

I hold 5 figure amounts of Fiat on both GDAX and Gemini. I'm not concerned.

Don't keep fiat or even crypto on any exchange for extended periods of time.  We all know what happened with Gox and Cryptsy.  That's one thing.  Now as far as having fiat on hand:  Warren Buffett is a great example of why it's important not to be overinvested.  He waits for prices to drop into the shitter before he buys, and because he is patient he has the cash to buy in big.  We all might be buying at the top of the market--we're so close to the ATH, so who knows, right?  Holding cash for the right price is a very smart idea.  He says it's like baseball, except you can wait for the perfect pitch before you swing.

I suggest that you keep some USDT coins at hand just in caes you want to trade some for bitcoin for cheap.

However, keep the majority in your bank account because USDT's value depends solely on whether the company is paying out withdrawals or not. If bitfinex has another hack(bitfinex is the parent company of usdt, pretty sure), then your funds are going to be in danger. Though the advantages of having usdt instead of fiat in your bank is that you'll be able to get almost instant deposits onto exchanges.

Another way is just storing it on an exchange, as you said, but imo that's even riskier than USDT.

Where do you live?

If you do interbank transfers anywehre in the world generally it is going to take around 2 days to be able to get the funds cleared to another account. Though the standard time right now for same banks should be immediate.

If you just want to buy bitcoin quickly when the price is low, then i suggest keep your fiat in your bank. No need to get USDT, just go onto localbitcoins.com, select your country, and select cash deposit/national bank transfer. Cash deposits reflect instantaneously and so should same-bank transfers, therefore the release time from ecsrow should be less than 1 hour, much better than exchanges.

Keeping your fiat in any exchange site is not a safe idea for me better to find an exchange site legitimate that can instantly buy bitcoins without keeping your money in exchange site.. like here in my country we can buy bitcoins instantly without worrying that the site is scammer..
I am buying bitcoin once the price of bitcoin is low like this time if the price will down more i will buy bitcoin with my partial of my job salaries.. but for now the price is not too low i will still keep waiting hope that the price can be decrease more before i buy.. if not maybe i will wait for the next down fall..

I would suggest not to keep your fiat doing nothing in your chosen trading platform. Buy BTC now, the price is quite low. And even if it is high right now the prediction this 2017 is very bright. There is actually no other way the year ends but with a high BTC price. For sure it will go beyond $3,000 per bitcoin.

Well you dont have a choice but to buy it already if you are doubting one exchange. And since you have a problem with your SEPA.
Waiting for it to go back below $2000 will take a lot of time and what if it goes up?
You better decide already and buy that bitcoin at the right time.
Who knows? What if now is the right time?

The right time! I believe to buy any crypto currency at a lower price than the current market value particularly bitcoin is anything from five days to 1st August for the price may likely decrease as a result panic of what the outcome of 1st August. Although this is my personal opinion which may not likely happen as protected.

Right good job and continue this way of saving bitcoin. Therefore suppose  if you can't save money in bitcoin and can keep in own pocket then I think in your money will be wasted . So I think you take a good and brilliant decision about your money to save  in bitcoin, I hope saving your money in bitcoin will be very secure and beneficial.

So your  advice to keep his funds secure is a coin that you acknowledge yourself is a riscky altcoinshitscam.

Best way to negate the risk would be to go with multiple exchanges if you really want to have money at your disposal at any given time.
But as in the previous post, think twice about the gains and the risks.

You need to use an exchange like Poloniex, Bittrex, etc. that lets you make quick/immediate transactions from cryptocurrencies to fiat. The exchange you use takes to long. I have used Coinbase to initially buy my bitcoins but I transfer to Poloniex to trade. I don't trade from Coinbase in terms of short term trading. Once you get to a trading exchange, you can trade many different trading pairs (if the exchange is set up for it).

Yes, I do keep my fiat on exchange platform so that there's no hassle if you want to buy new bitcoins. After selling it is automatically goes to other wallets which only holds fiat and I don't cash it out if I don't have to. I'm keeping my fiat at a local exchanger and it is authorized by the central bank of our country so it's trusted.

Yes if I have cash I'm not using I usually transfer it straight to an exchange and sometimes I wait a while before I finally decide to buy. In my experience though for SEPA it is sometimes done within the same day.

I usually don't buy bitcoins using my salary income so I have never used a wire transfer to any exchanges. However, I have used localbitcoins website quite an few times. It is a trading platform where you will receive offers from many local sellers. If you like someone's offer, you can straight away transfer the amount to their bank account and they will send the bitcoin to your bitcoin address.

localbitcoins website has a very good escrow feature so you can actually keep your amount to the escrow account until the bitcoin is received at your end. I have used their service and I am happy with it. So instead of sending wires to a exchange, you may try this website. However, always check a seller's rating before you start trading with them.

For an emergency when I think that it is a right time to buy bitcoin now and when for that I am not able to wait for longer then I search for someone on local bitcoin or search for any of my friend to send me bitcoin and I pay him cash by hand or banks transfer.

Not one question but 2 and here we go with so many answers, who would've thought? :D it really sucks when you want to quickly buy something and you'd have to wait hours or worse for days to receive the cash, my problem is not about depositing fiat but depositing bitcoin, so many times I've seen some low price coins but by the time my bitcoins arrive I lose the opportunity and I hate it for this to happen.
If you are a pro trader then you should always have some coins/fiat in a few exchanging platforms, never withdraw portion of your cash.

Not sure how it works on bitcoin exchanges but I trade a lot of stocks and just keep my cash in my brokerage account. If I want to invest more money, I deposit more into my brokerage account. I'd recommend doing something similar but don't deposit money too often - it's usually better to just invest with the money you have in there. It helps with managing risk. It helps prevent you from investing more than you can afford to lose.

At coinbase you have to options to do this. You either "top" your account timely and just wait to buy in, or buy via credit card and that his pretty fast. The only "hassle" is the identity conformation but that is almost universal when you mix cryptocurrencies with bank accounts and Fiat.

I think you can try use USDT on exchange site for keep your money, the rate same USD with ratio 1:1. I usually use USDT for waiting the price BTC fall down and buy again. Other choice you can use Paypal or Perfect Money to buy Bitcoin in site auto exchange as Changer.com :)

For a fact that there is always the waiting element with Bank wires I always avoid them and try to use funding methods which are close to instant and will not worry me about getting the best market price.
The way you keep your bitcoins should be your main concern and not the way you keep your fiat.

Almost every bank around the world has this waiting period other than credit cards/paypal, but again not every company accepts them, I have no such problem, I just open my local exchange the one I use with my family members and just click on buy put my Bitcoin addy then it'll depend on how fast I can insert my credentials for my bank account in the specific bank gateway site and after paying it just automatically comes to my wallet with one big difference, they sell very expensive I mean even if price rises by 25% you will never be able to buy/sell in there for profit gaining purposes but you can just buy and sell fast like if market price is $2470 you could buy @ $2550 and sell @ $2430.
Anyways nowadays all you need is to have some Bitcoins stashed somewhere to act fast when opportunity presents itself.

If you have an account with a linked card, it shouldn’t take too long. If you want to buy BTC as fast as you can, link your bank card and fund the account with dollars. Keep them on the account until the right time to buy Bitcoins. It will be done instantly.

Op you are right the best time to buy bitcoin is when the price is extremely low and the market capitalization is a bit high. Now is the most right time for long term investment. If you can put $1000 dollars into some coins you may have a very high return on your investment in 4-5 years to come. Bitcoin at $3400 is still undervalued and I am expecting it to go as high as $10000.

Just simple.I use localbitcoins.com to buy bitcoins by just transferring my money from bank account to the seller's account and immediately,i get my new bitcoins in my wallet.It gets completed instantly.I have not yet tried any other platforms to buy bitcoins with fiat money.

Even if you're bank card is not connected with your account, you can still buy Bitcoins within seconds if you have great savings. Not only capital is required to grab Bitcoins but the right time is also essential for buying Bitcoins at right price. Obviously it is going to cost you much more if you will go for Bitcoins during the pumping phase.