Hi all again.
I was lurking the web for other information and it happened that I stumbled over Monero - which seems to have way lower withdrawal fees.
What can you tell me about this cryptocurrency?
F.

Thanks again guys!

So let me try with an example to validate my understanding...

I'm in Switzerland, so I'll base it off CHF.
If I want to buy CHF 200.- worth of BTC, I can subscribe to Binance and there I would receive 0.003665 BTC (as of the time of writing). I would guess that this would be already the net amount, with all fees detracted - correct?
So, when I have that amount of BTC, it is not yet in my wallet to be spent - correct? In fact, it is still deposited at Binance.
Afterwards I decide I want to use BTC to pay something I buy online. That's where my wallet comes into play, right? I go to Binance and withdraw some (or all) BTC. At this point, I have to pay 0.0005 BTC fees, which would leave me with 0.003165 in my wallet - right? When I look at this with the fiat currency, I would have to say that from CHF 200.- I put into BTC, I finally got only CHF 175.- in my wallet.

Is the above correct?

F.

Thank you guys for following up.

I'll be using the Electrum app only for small amounts on my mobile, which I might just want to have handy. The main Electrum will be on my MacBook. Is this the correct and trustworthy site to get it from? --> https://electrum.org/#download

And is there any way to calculate the fee I have to pay when withdrawing money (from Binance for example) into my wallet?

F.

Hi everyone.
Again - many thanks for all your suggestions, which mainly go into the same direction.
Let me sum up and check if I've understood enough to start with BTCs...

Don't buy cryptocurrencies from ATMs, as the fees are higher than online.
The fees are relatively small when buying/selling online.
If I buy some BTC from an online exchange, then the money is at first still on the exchange itself. I could leave it there for trading or I could withdraw it to my wallet (like when I withdraw fiat money from my bank's ATM, right?!).

I've got Electrum installed on my Android device - what's the best way to secure it and not risk to lose my wallet?

Ah, and BTW: what is your opinion about localbitcoins.com? Is that a good way to get to BTCs?

And finally, something I really did not get: how much are the fees when withdrawing BTC into my wallet? A friend of mine lately told me that these fees spiked up like around 20 USD for each withdrawal?!

Thanks again!
F.

Thank you all for your replies. I'm going to take my time and read through some stuff - might get back with more questions here :-)
Cheers!
F.

Hi all.
Don't know if this is the right place to post - if not, just let me know.

I'm pretty new to all this and I'd like to understand some of this crypto-currencies thing...

Please help me here... -->

I have a wallet and I'd like to put some BTCs (or other crypto-currency) in it. My biggest concern is the fees and when/where they apply.
If I go to an ATM and I feed it with physical money to get my crypto-currency, do I have to pay some fees?
Would I use my crypto-currency to buy something online (same currency), are there any fees being applied?

Thanks for your help.
F.