Bitcoin Forum

Hello,

I am new in the cryptocurrency market. I would like to invest $1000 from US. I would like to join an exchange. Too many people in this forum are complaining how difficult is to withdraw from Kraken, which can take months. With Bitfinex fiat deposits and withdrawals are unavailable at this moment. What is left are bitstamp and bittrex, as these two allow to trade a few cryptocurrencies (I am interested in trading not just LTC, ETH, or BTC). However, now I am reading in this forum about hidden fees in bitstamp and bittrex, where they can go up to 25%. Are these hidden fees in bitstamp and bittrex really present? Is there a way to avoid them, or to understand them?

Cheers,
Marco

Check Poloniex is another exchanger top notch.

To be honest I would register with all the main exchanges if you are serious about crypto, some (New) coins/assets are not traded on all the exchanges.

Top Exchanges:
Bitfines
Bithumb
Coineone
Bittrex
Polonix
Kraken

For example it is possible to process deposit within one day with Kraken.com, once you are in Crypto you can withdraw/transfer it between exchanges as you please for the future withdraw via exchange of your choice, but I know some people that have been involved with crypto for 1-2 years and newer had the need to withdraw any of their funds into their bank account. I would worry more about deposit processing, but that is me. 

First time hearing about such fees. Really 25% ?  That sound ridiculous. Can you share the source?

I have good experience with kraken, bittrex and poloniex (bittrex and polo does not support fiat).  

liqui and hitbtc

I've used Bittrex a lot and I've never seen a 25% fee, that's absurd. Very happy with their service, I've got no complaints.

Here is an example:
https://www.reddit.com/r/ethtrader/comments/6j1j8h/what_the_hell_bittrex_10_deposit_fee/

People complaining for 10%. I was wrong with the 25%. Misread yesterday.
So my questions were : Are these hidden fees in bitstamp and bittrex really present? Is there a way to avoid them, or to understand them? Or since others mentioned other websites, are those different?

I would just go with nice exchange like poloniex or bitrex. And invest in top 5-6 coins in market. And hold for a while. Usually it turns out to be pretty profitable.

I think if you are having a problem when exchanging your future bitcoin for withdrawing and you don't wanted  to wait for a long time i think better to don't exchange your bitcoin instead transfer it in other wallet and look for a physical bitcoin debit card that i think more instant way to withdraw your bitcoin into fiat..
You can check here for bitcoin debit card list
https://bitcointalk.org/index.php?topic=1242788.0

https://bitcointalk.org/index.php?topic=1410577.0

And also take advantage of reading reviews from that thread so that  you far in scam debit card,,  mostly i heard there are lots more people are using xapo debit card.. This is just alternative way if you don't want to be exchange your bitcoin for a longer time.

looking for knowledge about crypto and bitcoin, this is why I am here. I want to increase knowledge about crypto

Poloniex is the best exchange site.But you can also try cryptopia.co.nz

If all you want to do is buy Bitcoins, Litecoins, and Etherium and hold them, then why not just open a Coinbase account and fund it with your $1000? I think you can currently buy and hold all 3 of those coins there.

You can then decide if you want to leave the coins on Coinbase or move them off the exchange to wallets where you control the private keys. That would be the safest option if you are comfortable with it.

If you are wanting to do some trading then you will need to find an exchange that you like that allows quick trades like Poloniex, Bittrex, Bitfinex, etc.

There's a bunch that I use that I can recommend;

- Bittrex
- Coinexchange.io
- Cryptopia
- Kraken
- Poloniex
- Bitstamp

I have exchanged on both exchanges polo and bittrex but I have never heard of a fee of 25% even when I withdraw more than $ 1000 and still charge 100k sts fee is quite small. Can you please give me source which the speaker is charge 25%  >:(

Did you guys try https://etherdelta.com (https://etherdelta.com)?

One of the most famous in my opinion Coineone, Bittrex and Kraken

This specific case is about sending quite small amount 0.1 ETH, with 0.01 fee ( I'm not experienced with ETH transfers much so can't say this is regular fee ) and I agree it looks terrible.
 
True is cryptos are not very suitable for such small transactions. You would most likely transfer e.g 1000 ETH using the same fee but you are correct when saying this is hidden fee ( you can't be sure how much untill you try it).

It's like the smaller amount is being send the fee percentage grows (sending 0.01 ETH would cost you 100%) and you should count with that.

Poloniex, Bittrex and Kraken is the best for me. They are easy for use and more security

fees taken by any service when you withdraw coins are normal, they also include transaction fee, and differ from one coin to another..
For example, BTC withdrawal fee is commonly 0.001(in average)

And if you wish to avoid or minimize these fees, you should choose coins with low transaction fee for your operations, especially when you have small amount of money
such coins as LTC, DOGE have very low transaction fees and withdrawal fees are low too

And when it comes to fees taken for deposits, I would say that the practice considerd as normal is fees taken for deposits made in fiat money like USD

by the way, bitflip (https://bitflip.cc/?ref=g6iwnq6g6o6) does not take such comissions at this moment..So you should compare several services to make the right choise and minimize these costs

What to comissions for depositing cryptocurrencies - this is a nonsense in my opinion and you should avoid services which do so