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Author Topic: The problem of the crypto currency purchase.  (Read 133 times)
Streamity
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November 15, 2017, 01:08:57 PM
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As you know it is rather difficult and risky to buy and sell crypto currencies and it also takes considerable time to make an exchange. In this article we are going to review the most popular ways of crypto currency purchase and we will try to find the most profitable exchange rates and the low-risk crypto currency exchanges and stocks. We won’t be speaking about how to open a crypto currency wallet as I don’t consider it to be a difficult issue. So let’s start:
1.   The most popular way to buy crypto currency is to use the aggregator: https://www.bestchange.ru. There you can choose an exchange with an appropriate rate, different payment types, then sort them by the price and find the most profitable exchange rate. We’re going to use https://coinmarketcap.com for this. The Bitcoin exchange rate at the “coinmarketcap” is $7229 (all the data is current as of 07 of November, 2017). We choose a few payment systems in different currencies on this site: QIWI / Yandex Money = 438.404 RUR (we convert this sum in USD through the https://cash.rbc.ru.  The best rate is 59 RUR per $1. So we get $7430. *Alfa Bank has the best exchange rate if we do the transfer through the Internet bank = 447.940 RUR = $7592; by cards VISA/Mastercard = $7677, PerfectMoney/AdvancedCash = $7336, and the best rate is if we transfer money through Okpay = $7277.
We should remember that Okpay, PerfectMoney, AdvancedCash take commission fees from these transfers. The most inexpensive way to make a transfer is a bank transfer =2%. So we get $7277 + 2% = $7422. But this takes a lot of time. If we use the wire transfer, QIWI, Yandex Money and other payment systems this will cost 10% and more. This is too much that’s why we won’t be speaking about that.
The conclusion: the best total price is $7422 that is 2,7% higher than the price at the «coinmarketcap». And the majority of exchanges work illegal. That means that no one can guarantee your money will be safe. The purchase of crypto currencies through the site: https://localbitcoins.net/ru.  Here you can make an exchange between the real persons directly and make an exchange for cash. The best price for 1 Bitcoin in the Russian Federation is $7388, in Germany = $7349, in England = $7390, in the USA = $7319 (through the international wire transfer). So the final best price is 7319$ that is just 1,2% higher than the market “coinmarketcap” price.
The price is good enough but there are some essential problems and risks. Firstly it is forbidden to use the site localbitcoins.net in many countries. So the operations through this site are illegal! Secondly let’s read some articles about people who had sold Bitcoins through the localbitcoins company. And there’s no guarantee that you won’t find yourself among the participants of the similar deal: https://bitnovosti.com/2014/02/19/polzovateljam-servisa-localbitcoins-com-vo-floride-predjavleny-obvinenija/,   https://golos.io/ru--blokcheijn/@axecap/arest-polzovatelei-localbitcoins,   http://today-news.com/News/crypto currency/Treyderov-LocalBitcoins-prigovorili-k-9-godam-tyurmy-81939.html, https://www.coinside.ru/2014/02/08/dvum-polzovateljam-localbitcoins-com-predjavleni-ugolovnie-obvinenija-vo-floride/.
Jeremias Kangas, the LocalBitcoins.com owner, explained that the site users are responsible for the law compliance in the countries where they do trade. “At this moment it is expected that users of our service will check each other by themselves when they do personal bargaining”, he said. But in my opinion it is a questionable statement. How can anyone make such verification? Of course, the LocalBitcoins.com must check their users itself. Moreover the LocalBitcoins.com must guarantee the transactions security which is not provided by their resource. All the security is limited just by the users’ comments and the statistics on the site.
2.   The crypto currency purchase through the different stocks. Let’s start from the biggest and licensed stocks.
•   «Poloniex». There you can replenish the account with crypto currency exceptionally!
•   «Bittrex». The same as “Poloniex”.
•   «Bitfinex». Here you can’t temporarily replenish the account with the fiat currency that’s why we can’t count the commissions for such operations.
Now we go to smaller stocks which legal status isn’t confirmed.
•   «Livecoin». Look at the information about how to replenish the account here: https://www.livecoin.net/ru/deposits-withdrawals. We can see that the money transfer through the payment system Okpay costs just 0,1%. Let’s go directly to the Okpay site and try to replenish the account. There are a lot of ways how to do it: PayPal = 14%, Yandex Money = 4,5% in RUR / 5,7% in USD, Moneygram = 10% in USD, Perfect Money, AdvCash, Capitalist = just about 1%. But how can we transfer money to these payment systems? That’s really difficult to be done. Moreover above listed payment systems collect large interests – averagely about 10%! The least costly way is to make a bank transfer, of course. But such transfer is being committed from 2 till 5 work days and you’ll have to attend the bank in person. And beyond that you’ll have any way to pay the interest to the bank + 1% additionally + 840 RUR minimum or 14EUR. Therefore you need to transfer 84.000 RUR to get a 1% interest. And the bank will also take a commission from you! The conclusion: the most inexpensive way of replenishment is Okpay / Yandex Money = 4,5%. So to replenish the livecoin account through Okpay will cost us 4,5%. We won’t discuss other payment systems such as Payeer, PerfectMoney, AdvCash because they are identical to Okpay. That means they are as cost-based, inconvenient and time-consuming as Okpay! The bank transfer will cost you 10EUR or 50USD. So we need to transfer 1000EUR or 50000USD to have a 1%-interest. And don’t also forget about your bank interest which is minimum at least 1%!
•   The next stock exchange is “EXMO” which becomes popular rather quickly. The account replenishment through the MoneyPolo will cost you at least 5%. As we found out earlier the account replenishment through such payment systems costs about 4-5%! To make payments in USD will cost at least 1% through MoneyPolo + 4-5% for MoneyPolo account replenishment. The conclusion: if you want to replenish the “EXMO” account it will cost you at least 5-6% of interest + a lot of your time + a lot of additional operations such as verification at the payment system or your personal visit to the bank (to make a money transfer).
•   The next stock is «Yobit». The account replenishment is in RUR: QIWI = 7%, Payeer / Capitalist = 1% + these payment systems replenishment = 4-5%. The same situation is in USD. The conclusion: total interest for the account replenishment = 5-6%.

Remember that first of all we should buy crypto currency through the above listed stocks and then transfer it to our digital wallet. All these operations will cost us money.
The total conclusion: nowadays it’s rather difficult and expensive to buy crypto currency even though there are a lot of services, exchanges and stocks there and their quantity continues growing. But mostly their legal status remains doubtful. And just few of them provide their services on legal grounds. And, for obvious reasons, the commission for fiat money transfer is much higher on such resources.
CEO founder STREAMITY, Vladislav Kuznetsov

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November 15, 2017, 03:20:51 PM
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That's obviously the wrong section for this

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November 15, 2017, 04:07:55 PM
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That's obviously the wrong section for this

Perhaps you mean "that's obviously the wrong post for any section" man! Cheesy

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CEO founder STREAMITY, Vladislav Kuznetsov

Wow,a newbie CEO of his self... Really now?! Cheesy
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March 08, 2018, 06:18:04 AM
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when i saw this site: https://localbitcoins.net/ru, i know i can stop reading and come to a conclusion.
SCAMER!
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