U.S. vs European Exchange websites?

[starzou]

I live work and bank in the US but I am a European citizen. I have two options:

A) Buy cryptocurrencies on US exchange platforms such as Kraken with a CC or bank transfer
B) Buy crypto on a Luxembourg exchange such as Etoro with a US credit card

Which would make the most sense in terms of tax/regulation/easiness to use?

Many thanks

[exstasie]

I live work and bank in the US but I am a European citizen. I have two options:

A) Buy cryptocurrencies on US exchange platforms such as Kraken with a CC or bank transfer
B) Buy crypto on a Luxembourg exchange such as Etoro with a US credit card

Which would make the most sense in terms of tax/regulation/easiness to use?

Many thanks

I'm not a lawyer/accountant, so I can't speak on tax issues. For example, if there are VAT considerations, I don't think a US exchange like Kraken is going to handle it in the same way that a Luxembourg exchange might.

As far as ease of use goes, though, I would stick to ACH transfers, which tend to be free. Bank wires are also superior to credit cards. Most exchanges charge very high fees on credit card purchases and enforce low limits.

Due to all the downtime and recent complaints about Kraken, I would recommend GDAX or Gemini. Both support European and US residents and both are licensed exchanges. Bitstamp is also one that I would recommend over Kraken.

[starzou]

I live work and bank in the US but I am a European citizen. I have two options:

A) Buy cryptocurrencies on US exchange platforms such as Kraken with a CC or bank transfer
B) Buy crypto on a Luxembourg exchange such as Etoro with a US credit card

Which would make the most sense in terms of tax/regulation/easiness to use?

Many thanks

I'm not a lawyer/accountant, so I can't speak on tax issues. For example, if there are VAT considerations, I don't think a US exchange like Kraken is going to handle it in the same way that a Luxembourg exchange might.

As far as ease of use goes, though, I would stick to ACH transfers, which tend to be free. Bank wires are also superior to credit cards. Most exchanges charge very high fees on credit card purchases and enforce low limits.

Due to all the downtime and recent complaints about Kraken, I would recommend GDAX or Gemini. Both support European and US residents and both are licensed exchanges. Bitstamp is also one that I would recommend over Kraken.

Thanks for the input. It seems that both GDAX and Gemini only offer Bitcoin and ETH purchasing services. I am looking for an exchange that offers way more currencies than that (if it exists).

[tocketsearful]

I live work and bank in the US but I am a European citizen. I have two options:

A) Buy cryptocurrencies on US exchange platforms such as Kraken with a CC or bank transfer
B) Buy crypto on a Luxembourg exchange such as Etoro with a US credit card

Which would make the most sense in terms of tax/regulation/easiness to use?

Many thanks

Buying crypto on Etoro is not the same as in fact buying crypto. You do not have the option to transfer those said coins to your wallet if you at some point wish to.

If you buy crypto on Etoro you are buying at CFD which tracks the underlaying price movements of the coin.

[starzou]

I live work and bank in the US but I am a European citizen. I have two options:

A) Buy cryptocurrencies on US exchange platforms such as Kraken with a CC or bank transfer
B) Buy crypto on a Luxembourg exchange such as Etoro with a US credit card

Which would make the most sense in terms of tax/regulation/easiness to use?

Many thanks

Buying crypto on Etoro is not the same as in fact buying crypto. You do not have the option to transfer those said coins to your wallet if you at some point wish to.

If you buy crypto on Etoro you are buying at CFD which tracks the underlaying price movements of the coin.

Interesting I was not aware of this. You are just buying derivatives on Etoro then. Is there an incentive in buying coins there vs. buying crypto? I could see the point for bitcoin (you can use bitcoin to purchase stuff) but for alt coins such as Ripple that are just purely speculative as of today is there a point in actually owning the coin?

[siagh357]

I dont think is possible to buy on Luxembourg exchange with a U.S credit card. you will be barred from buying with the card form U.S .

[harveygrady]

You can use Paxful.com to process the trade. They have 300+ payment options