Bitcoin Forum

say someone was to buy 30 bitcoins .. what is the best and least expensive way to go about this using the gemini exchange? would a regular limit order be ideal?

im not too educated about how the different ways to buy work and would like to learn more.

if the current price is showing $15,500 and you edit the buying price to $15,200, will the order eventually go through or most likely not? and if yes, approximately how long would it take?

basically, what is the best option for buying under market value in the least amount of time, if any?

PS.. edited this without the caps lock for those that it bothered. any help would be appreciated.

Any chance you can stop posting in uppercase. I for one, don't read such posts, and it makes you look so unsophisticated that you are unlikely to be taken seriously.

stop SHOUTING (turn your caps lock off)

if you are ok with paying your taxes and are already doing it, specially if you are in US and know IRS will come after you, then use an exchange like Gemeni or Coinbase/GDAX to make the purchase. there are some limitations there which may cause some trouble but you can use both at the same time to go around the issue.

if you don't want to pay taxes and risk IRS coming after you, and if you want more privacy then use something like localbitcoins.com to find someone to buy bitcoin from off the market and with a different way of transferring money to that doesn't leave a trace ;)

WHATS THE DIFFERENCE? BIGGER LETTERS ARE MUCH EASIER TO READ. FORUMS ARE NOT EXACTLY MEANT FOR SOPHISTICATION AS MUCH AS THEY ARE TO EXCHANGE INFORMATION.

THIS IS AN IMPORTANT QUESTION BRO, I GOT SOME BIG INVESTORS LOOKING AT ME TO HELP. ANY KNOWLEDGE IS GREATLY APPRECIATED.

Why would you want to buy them at once ?

I'd say buy 1 BTC each day or each few days just to get the best avarage price.
In case you put a large order like this below market value at what seems to be a good price, it can also dip further and you loose a lot of money immediately.

BUT WHAT IF THE VALUE KEEPS GROWING EACH DAY? WHAT IF IT REACHES 25K IN 1 WEEK AND YOU COULD OF HAD THEM ALL AT 15K?? THATS WHY THAT IDEA COULD BACKFIRE.

IF ANYONE CAN EXPLAIN, WHAT IM TRYING TO FIGURE OUT IS HOW IT WORKS.. IF THE CURRENT PRICE IS $15,500, WHAT WOULD BE THE BEST WAY TO GET IT AT THE LOWEST AMOUNT THAT SAME DAY?

1. Writing in ALL CAPS is considered same as shouting and rude. Don't do it without any special reason.
2. There is no guarantees with bitcoin. You can buy for 15000$ and wake up tomorrow where it's worth either 5000$ or 25000$. So it's risky. There are no guarantees.
3. You can buy on exchanges like Coinbase or Kraken. Alternative is to buy on localbitcoins.
4. For larger amounts you can use OTC https://genesistrading.com/otc-trading/

Good luck.

WHAT LIMITATIONS WOULD THERE BE WITH GEMINI?

I’M NOT TO SURE LOCALBITCOINS WOULD BE RELIABLE ENOUGH FOR SUCH LARGE AMOUNTS. I MEAN, IF THE MONEY WILL EVENTUALLY BE GOING BACK INTO A BANK ACCOUNT, IT WOULD EVENTUALLY BECOME NOTICED BY THE IRS EITHER WAY.

Bro listen to your seniors here, you might get banned if you keep using Capslock on your post. Just use it if necessary. You've been warned.

I CAN READ BIG LETTERS EASIER, NO DISRESPECT


I GUESS YOU GUYS ARE MISSING MY POINT THOUGH .. I UNDERSTAND WHERE TO BUY AND THE RISK INVOLVED. MY QUESTION IS WHAT SHOULD THE BUY PRICE BE SET TO WHEN PLACING AN ORDER TO GET IT AS CHEAP AS POSSIBLE ON THAT SAME DAY?


IE- CAN YOU TAKE $100 OFF THE LIST PRICE AND EXPECT THE ORDER TO BE FILLED? $200? $500?? AND IF SO, HOW FAST CAN YOU EXPECT THE ORDER TO GO THROUGH??

IF A MOD TELLS ME TO STOP OR IF ITS AGAINST THE RULES, I WILL STOP....I JUST DONT SEE WHAT THE BIG DEAL IS (NO PUN INTENDED 8))

edited the op for those that it bothered

You can take $100, $200 or $500 off the price but it depends whether any sellers are willing to fulfill the orders. So we can’t tell you exactly when will your order be fulfilled. Why don’t you try localbitcoin? So that you can bargain with the sellers to buy larger amount of Bitcoin at the price you want.

The best method in buying bitcoin specially for large amounts is to wait a perfect timing; wherein the value of bitcoin fluctuates down. In this case you can buy large amount of bitcoins at lower price.

no fucks given abotu the caps lock, I dont know why folks trip out about that so hard. more concerned about the crappy english thats impossble to follow at times ;)


anywho, you want to look for a verified exchange account, or an otc trading account. the are advantage to both. for the otc account, you will get a daily adjusted rate, rather than be subjected to the spot rate (which is too variable for large purchases like this). this adjusted rate will reflect the average rate for the day up to that point, and will be a better value. if you get an exchange account, you will have the piece of mind that you can sue someone if you dont get your coins :) this is always a great relief to me, usually the ability to sue means that folks are much more likely to act right (liability sucks!)  ;D


you will have to verify out of your ass, however, to move this much money, and your bank is going to make you disclose this, when to transfer this much money be truthful, it is a crime to lie on this form in most locales.

Things get easier for you if you have a bank account and a credit card. If you have those then you could get Bitcoin from pretty much any exchange.

Your order would be filled if the price drops to 15,200 on the Gemini exchange and there are enough people selling your coins on the exchange; it will be partially fulfilled if there are only some coins available to you at that price.

We cannot tell you how long such an order would be filled because it's entirely dependent on second to second changes in the bitcoin price and those who are selling/buying. If the price goes up and never comes back your order will never be filled, if it drops hard it will be fulfilled almost instantaneously.

The best option seems to be buying segmented amounts as you watch the price move so you can make a better determination about where it's headed. Bitcoin has been around for years, don't rush yourself all-in because of a price pump now.. One more thing, this thread may or may not belong inn the "Trade Discussion" sub-section.

find a man who has a lot of bitcoins and who needs Fiat! commissions in exchangers 7% is a huge amount of money given the constant growth)

A good recommendation here is talking about this with the seller. The thing when it comes to banking transactions or other money transfer is that they leave a trace. Look for other methods to diminish the potential traces.

Its better to use card or bank for any bitcoin uses.
For some big investors they use bank if your debit card or crditcard sa cryptocurrency exchange.

If you are a new member and you don’t know the possible risks, it is better if you start buying on small amounts rather than in a single transaction where losses can be big.

you can’t use exchange sites to buy big amount of bitcoins like this.
you can use p2p selling or start exchange service here.