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Author Topic: Please explain Fees For Buying or Selling Bitcoin  (Read 497 times)
mammabitcoin2u
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February 26, 2016, 09:43:36 AM
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Thus far I have yet, to actually buy with USD any Bitcoins.  Still new, still hesitate and only have collected from faucets (and a few ponzis Cheesy)

I have learned of a local place and asked what the fees are. 

I was told 15%

The lowest amount they would sell would be $10 worth of Bitcoin for $12 USD (this is 20% not 15, so I already know this is just a bullshitter)

So, if anyone can help with some information, I would be appreciative.


~Be Wise & Scrutinize Everything~~Scammers are like roaches squash 1 there's millions more hiding~I will NEVER ask for a loan~I got plenty of my own ~ BIGGEST lie to date said about me: https://bitcointalk.org/index.php?topic=2046485.msg20429473#new
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February 26, 2016, 09:47:52 AM
 #2

Thus far I have yet, to actually buy with USD any Bitcoins.  Still new, still hesitate and only have collected from faucets (and a few ponzis Cheesy)

I have learned of a local place and asked what the fees are. 

I was told 15%

The lowest amount they would sell would be $10 worth of Bitcoin for $12 USD (this is 20% not 15, so I already know this is just a bullshitter)

So, if anyone can help with some information, I would be appreciative.



Only fees that you should know are the Bitcoin network fees which are like 0.05$ or something , and your wallet should take them automatically when you make a transaction .
Now the fees that you are talking about depends on the seller/the buyer , you can choose whatever rates makes you comfortable but most of the time , people consider that bitcoin have higher value so they use those fees .
You still can find people who accept transactions with 1:1 rates though , so it's up to seller/buyer as I said .

mammabitcoin2u
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February 26, 2016, 10:04:13 AM
 #3

Thus far I have yet, to actually buy with USD any Bitcoins.  Still new, still hesitate and only have collected from faucets (and a few ponzis Cheesy)

I have learned of a local place and asked what the fees are. 

I was told 15%

The lowest amount they would sell would be $10 worth of Bitcoin for $12 USD (this is 20% not 15, so I already know this is just a bullshitter)

So, if anyone can help with some information, I would be appreciative.



Only fees that you should know are the Bitcoin network fees which are like 0.05$ or something , and your wallet should take them automatically when you make a transaction .
Now the fees that you are talking about depends on the seller/the buyer , you can choose whatever rates makes you comfortable but most of the time , people consider that bitcoin have higher value so they use those fees .
You still can find people who accept transactions with 1:1 rates though , so it's up to seller/buyer as I said .

Thank you for responding.  I do notice and know of the fees from the network, these have varied from .001 to .005 and I understand that.

Yes, I have seen posts and other places online (reddit) for some 1:1 equal and understand that too.

I understand people can charge whatever they like as a fee.

I also understand stock fees etc.  I do not know how the fees with BTC work.  I think 15% is pretty high, as I said, I know this "store" is pretty much bullshit.  I just want to know how much bullshit?

What % would a local bitcoin trader charge?  How can I find these %'s?  Or at least have some knowledge about what is "normal". 

~Be Wise & Scrutinize Everything~~Scammers are like roaches squash 1 there's millions more hiding~I will NEVER ask for a loan~I got plenty of my own ~ BIGGEST lie to date said about me: https://bitcointalk.org/index.php?topic=2046485.msg20429473#new
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February 26, 2016, 10:07:03 AM
 #4

Thus far I have yet, to actually buy with USD any Bitcoins.  Still new, still hesitate and only have collected from faucets (and a few ponzis Cheesy)

I have learned of a local place and asked what the fees are.  

I was told 15%

The lowest amount they would sell would be $10 worth of Bitcoin for $12 USD (this is 20% not 15, so I already know this is just a bullshitter)

So, if anyone can help with some information, I would be appreciative.



Only fees that you should know are the Bitcoin network fees which are like 0.05$ or something , and your wallet should take them automatically when you make a transaction .
Now the fees that you are talking about depends on the seller/the buyer , you can choose whatever rates makes you comfortable but most of the time , people consider that bitcoin have higher value so they use those fees .
You still can find people who accept transactions with 1:1 rates though , so it's up to seller/buyer as I said .

Thank you for responding.  I do notice and know of the fees from the network, these have varied from .001 to .005 and I understand that.

Yes, I have seen posts and other places online (reddit) for some 1:1 equal and understand that too.

I understand people can charge whatever they like as a fee.

I also understand stock fees etc.  I do not know how the fees with BTC work.  I think 15% is pretty high, as I said, I know this "store" is pretty much bullshit.  I just want to know how much bullshit?

What % would a local bitcoin trader charge?  How can I find these %'s?  Or at least have some knowledge about what is "normal".  

Head over to the currency exchange section of this forum, you'll see what is normal these days Wink

https://bitcointalk.org/index.php?board=53.0

EDIT: 15% does sound quite high, but i wouldn't consider it abnormal. A lot depends on how much, when and with which kind of currency you're buying BTC
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February 26, 2016, 10:09:58 AM
 #5

Thus far I have yet, to actually buy with USD any Bitcoins.  Still new, still hesitate and only have collected from faucets (and a few ponzis Cheesy)

I have learned of a local place and asked what the fees are. 

I was told 15%

The lowest amount they would sell would be $10 worth of Bitcoin for $12 USD (this is 20% not 15, so I already know this is just a bullshitter)

So, if anyone can help with some information, I would be appreciative.



Only fees that you should know are the Bitcoin network fees which are like 0.05$ or something , and your wallet should take them automatically when you make a transaction .
Now the fees that you are talking about depends on the seller/the buyer , you can choose whatever rates makes you comfortable but most of the time , people consider that bitcoin have higher value so they use those fees .
You still can find people who accept transactions with 1:1 rates though , so it's up to seller/buyer as I said .

Thank you for responding.  I do notice and know of the fees from the network, these have varied from .001 to .005 and I understand that.

Yes, I have seen posts and other places online (reddit) for some 1:1 equal and understand that too.

I understand people can charge whatever they like as a fee.

I also understand stock fees etc.  I do not know how the fees with BTC work.  I think 15% is pretty high, as I said, I know this "store" is pretty much bullshit.  I just want to know how much bullshit?

What % would a local bitcoin trader charge?  How can I find these %'s?  Or at least have some knowledge about what is "normal". 

You can see most of those fees on "currency exchange" section on different forums like Bitcointalk (here) , Leakforums etc ...
As far as I know ,only individuals choose to use those kind of fees  , Official (websites) exchange don't usually those fees and on the same time those exchange don't have different payment methods like individuals do . (Paypal , Skrill ,Neteller , Payoneer , Payza etc ... ) .
So you should understand that those fees are basically random , It changes from a seller to another but most of the time it's because of the risk (reversible payment methods) and because Bitcoin value is not stable (keep rising or falling) so It actually worth it .

mammabitcoin2u
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February 26, 2016, 10:23:33 AM
 #6

Thus far I have yet, to actually buy with USD any Bitcoins.  Still new, still hesitate and only have collected from faucets (and a few ponzis Cheesy)

I have learned of a local place and asked what the fees are.  

I was told 15%

The lowest amount they would sell would be $10 worth of Bitcoin for $12 USD (this is 20% not 15, so I already know this is just a bullshitter)

So, if anyone can help with some information, I would be appreciative.



Only fees that you should know are the Bitcoin network fees which are like 0.05$ or something , and your wallet should take them automatically when you make a transaction .
Now the fees that you are talking about depends on the seller/the buyer , you can choose whatever rates makes you comfortable but most of the time , people consider that bitcoin have higher value so they use those fees .
You still can find people who accept transactions with 1:1 rates though , so it's up to seller/buyer as I said .

Thank you for responding.  I do notice and know of the fees from the network, these have varied from .001 to .005 and I understand that.

Yes, I have seen posts and other places online (reddit) for some 1:1 equal and understand that too.

I understand people can charge whatever they like as a fee.

I also understand stock fees etc.  I do not know how the fees with BTC work.  I think 15% is pretty high, as I said, I know this "store" is pretty much bullshit.  I just want to know how much bullshit?

What % would a local bitcoin trader charge?  How can I find these %'s?  Or at least have some knowledge about what is "normal".  

Head over to the currency exchange section of this forum, you'll see what is normal these days Wink

https://bitcointalk.org/index.php?board=53.0

EDIT: 15% does sound quite high, but i wouldn't consider it abnormal. A lot depends on how much, when and with which kind of currency you're buying BTC

Thanks, yes I seen that area.

I do know I can buy online and did pm someone from here.  To get some information.
But, I did want to also check out lower amounts and local too.
Eventually, I am interested in buying/selling, again I am far away from that.

lol yes I do believe 15% is quite high. 

15%x424.25 Current BTC price =487.89USD (487.8875)

from https://localbitcoins.com/ I am seeing roughly 446.63 roughly that is 5%

so yes 40+ dollars is crazy and I'm no sucker  Roll Eyes


~Be Wise & Scrutinize Everything~~Scammers are like roaches squash 1 there's millions more hiding~I will NEVER ask for a loan~I got plenty of my own ~ BIGGEST lie to date said about me: https://bitcointalk.org/index.php?topic=2046485.msg20429473#new
mammabitcoin2u
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February 26, 2016, 10:30:45 AM
 #7

Thus far I have yet, to actually buy with USD any Bitcoins.  Still new, still hesitate and only have collected from faucets (and a few ponzis Cheesy)

I have learned of a local place and asked what the fees are. 

I was told 15%

The lowest amount they would sell would be $10 worth of Bitcoin for $12 USD (this is 20% not 15, so I already know this is just a bullshitter)

So, if anyone can help with some information, I would be appreciative.



Only fees that you should know are the Bitcoin network fees which are like 0.05$ or something , and your wallet should take them automatically when you make a transaction .
Now the fees that you are talking about depends on the seller/the buyer , you can choose whatever rates makes you comfortable but most of the time , people consider that bitcoin have higher value so they use those fees .
You still can find people who accept transactions with 1:1 rates though , so it's up to seller/buyer as I said .

Thank you for responding.  I do notice and know of the fees from the network, these have varied from .001 to .005 and I understand that.

Yes, I have seen posts and other places online (reddit) for some 1:1 equal and understand that too.

I understand people can charge whatever they like as a fee.

I also understand stock fees etc.  I do not know how the fees with BTC work.  I think 15% is pretty high, as I said, I know this "store" is pretty much bullshit.  I just want to know how much bullshit?

What % would a local bitcoin trader charge?  How can I find these %'s?  Or at least have some knowledge about what is "normal". 

You can see most of those fees on "currency exchange" section on different forums like Bitcointalk (here) , Leakforums etc ...
As far as I know ,only individuals choose to use those kind of fees  , Official (websites) exchange don't usually those fees and on the same time those exchange don't have different payment methods like individuals do . (Paypal , Skrill ,Neteller , Payoneer , Payza etc ... ) .
So you should understand that those fees are basically random , It changes from a seller to another but most of the time it's because of the risk (reversible payment methods) and because Bitcoin value is not stable (keep rising or falling) so It actually worth it .

Thank you for responding I really do appreciate the help learning about BTC.

I'm not shady and not looking to deal with anyone shady either.  But, I've seen the talk in these forums about the reversing payment.  As I said, given the trust and information, from someone in this forum, I would consider buying online.

Yes, the value fluctuation is what I am interested in.  I see it as a stock right now but better.  I can buy it at it's low of 379 and hold it til it reaches 450.  All the while, I have the freedom to spend it if I like.

Unlike a $5 dollar bill which stays at $5.  Today I can have $5 dollars worth of BTC but it can be worth 6 tomorrow.


~Be Wise & Scrutinize Everything~~Scammers are like roaches squash 1 there's millions more hiding~I will NEVER ask for a loan~I got plenty of my own ~ BIGGEST lie to date said about me: https://bitcointalk.org/index.php?topic=2046485.msg20429473#new
Laosai
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February 26, 2016, 02:24:01 PM
 #8

Thus far I have yet, to actually buy with USD any Bitcoins.  Still new, still hesitate and only have collected from faucets (and a few ponzis Cheesy)

I have learned of a local place and asked what the fees are. 

I was told 15%

The lowest amount they would sell would be $10 worth of Bitcoin for $12 USD (this is 20% not 15, so I already know this is just a bullshitter)

So, if anyone can help with some information, I would be appreciative.



Oh no god 15% is really too much!

Even going with Kraken plateform you won't pay that!

Find people on LocalBitcoin for example if you want to buy/sell btc. Or on this forum. If you want I can sell some btc to you with a rather low fee.

But 15% is faaaaaaaaar too much!

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February 26, 2016, 09:53:03 PM
 #9

Its better to go with websites, as the fees is not high as quoted by you local place trader.
Now its much better to do trade with sites than traders.

Pk880058
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February 26, 2016, 10:01:15 PM
 #10

As per i know if you are going to deal with Individual then their may vary the difference of fees according to ones condition, if you go in localbitcoins site their also you will find different rate with different users, their you may get from 1% to 20% also, you have freedom to deal with whom you like, If you are going to purchase from exchange then each exchange have their own terms and conditions, but how much that they only know,
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