Invest 2k, Exchange

[k771]

Hi,

I'm planning to buy BTC and ETH for 2k Euro in total. I want to buy it, put in on the ledger, and then put it into a bank vault.

Which exchange would you recommend for low fees? How much fees should I expect? Around 200 Euros?

I was thinking about meeting with people and trading OTC but as there are so many scammers I'm not sure whether I should do it.

Hope you can help!

[1715082893]

1715082893

[1715082893]

1715082893

[1715082893]

1715082893

[1715082893]

1715082893

[smyslov]

Hi,

I'm planning to buy BTC and ETH for 2k Euro in total. I want to buy it, put in on the ledger, and then put it into a bank vault.

Which exchange would you recommend for low fees? How much fees should I expect? Around 200 Euros?

I was thinking about meeting with people and trading OTC but as there are so many scammers I'm not sure whether I should do it.

Hope you can help!

Over the counter is much easier if you are going to deal with people you know personally. if you have a local exchange like what we have here things will be much easier, but if you don't have one then you can settle for a more reputable exchange like Coinbase Binaance and Kucoin, don't mind it's not really that big, what matter is your experience, I hope it goes smooth.

[o_e_l_e_o]

There is no way you should be paying anywhere close to €200 in fees for buying €2,000. That's 10%! Most exchange trading fees are in the region of 0.5%, and then there will be a small withdrawal fee (a couple of euros max) on top of that. The cheapest way to buy on a centralized exchange from Europe is to do a SEPA transfer, make the trade, and withdraw. You can purchase on some exchanges directly with a debit or credit card, but that will incur additional fees of around 2-4%. If you use SEPA, all in your fees shouldn't come to more than €20.

I can't really make a recommendation for which exchange to choose, because I don't use any. Be aware that to do a trade like this on an exchange, you will need to open an account and complete "Know Your Customer" verification. This will involve you telling the exchange your name, date of birth, address, email, phone number, potentially your employment and source of income, and sending them copies of your driver's license, passport, or other documents. If you don't want to go through all this, then you should look at trading peer-to-peer with another user, either via the marketplace section of this forum, or on a decentralized exchange such as BISQ. If trading peer-to-peer, always use a trusted escrow so you don't get scammed.

[Lucius]

k771, since you are buying in Euro, you are very likely to be in Europe, so it is not bad advice to look for some local exchange, and it is possible that they may not even ask for KYC for such a relatively small amount. All of this, of course, varies from country to country and restrictions imposed because of money laundering laws.

One exchange which I can recommend to you is https://www.binance.je/en , you can deposit Euro, fees are low and KYC procedure is relatively simple and fast.

Regarding the safety of coins, it is important to protect your seed (24 words) more than the device itself. Bank safe is one of the possible solutions, though not entirely safe from possible robbery.

[MichaelX]

If you are in Europe, I think it is safe to say that you can get an account on Bitstamp. They are one of the oldest exchanges on the planet and sometimes used as a reference point. They mostly trade bitcoin and fiat, something like only a dozen trade pairs, but that's really all you need to get started.

At least with an exchange, you don't have the problem of dealing with potential scammers. You do however, most likely, need to provide KYC info to them.

[Juggy777]

Hi,

I'm planning to buy BTC and ETH for 2k Euro in total. I want to buy it, put in on the ledger, and then put it into a bank vault.

Which exchange would you recommend for low fees? How much fees should I expect? Around 200 Euros?

I was thinking about meeting with people and trading OTC but as there are so many scammers I'm not sure whether I should do it.

Hope you can help!

@k771 I would not recommend you you to store your funds in an exchange, because exchanges often get hacked and funds are lost forever. Instead I would suggest you to buy from here, and store your coins using Electrum wallet as it’s very simple to use and it’s secured too. However there were few hacks on Electrum wallet too, just remember never to update the wallet from inside always go to their official site and update it. Here I’m leaving links of sellers whom you can trust and buy, however if you yet have doubts you can always use an escrow here.

Sellers links:
https://bitcointalk.org/index.php?topic=913485.0
https://bitcointalk.org/index.php?topic=2417495.0

News links:
https://www.bloomberg.com/news/articles/2019-05-08/crypto-exchange-giant-binance-reports-a-hack-of-7-000-bitcoin
https://www.zdnet.com/article/users-report-losing-bitcoin-in-clever-hack-of-electrum-wallets/

[dkbit98]

Hi,

I'm planning to buy BTC and ETH for 2k Euro in total. I want to buy it, put in on the ledger, and then put it into a bank vault.

Which exchange would you recommend for low fees? How much fees should I expect? Around 200 Euros?

I was thinking about meeting with people and trading OTC but as there are so many scammers I'm not sure whether I should do it.

Hope you can help!

You have the option to use Bisq exchange https://bisq.network/
It is private and secure way to buy coins you want.

Your can also connect with your local Bitcoin community.
I am almost sure there are some people in your country/town
who want to trade crypto with fiat all the time.

BTC/EUR offers at Bisq market atm
https://bisq.network/markets/?currency=btc_eur

And you can also be market maker with your own terms

No need to pay some crazy high fees, as it goes less than 1% for sure

[pedrog]

Hi,

I'm planning to buy BTC and ETH for 2k Euro in total. I want to buy it, put in on the ledger, and then put it into a bank vault.

Which exchange would you recommend for low fees? How much fees should I expect? Around 200 Euros?

I was thinking about meeting with people and trading OTC but as there are so many scammers I'm not sure whether I should do it.

Hope you can help!

Fees are irrelevant unless you're doing high volume.

Don't go meet strangers with a bunch of cash in your pocket.

Best places to buy are Bitstamp, Coinbase or Kraken.

Fee schedule here: https://www.bitstamp.net/fee-schedule/

[k771]

thank you all.

yeah I miscalculated the fees. they will be around 20 euros for 2k which is totally fine with me. KYC is also no problem as I am already registered on binance. I was wondering about buying the cryptos OTC to save more money but I don't think it will be so much difference because I will hold the coins for several years.

I am from Munich and there are tons of traders for OTC here... so how much money could I save when doing this OTC? is it really worth?

@dkbit98: KYC is no problem for me. Would there be so much saving in comparison to binance?

[pedrog]

thank you all.

yeah I miscalculated the fees. they will be around 20 euros for 2k which is totally fine with me. KYC is also no problem as I am already registered on binance. I was wondering about buying the cryptos OTC to save more money but I don't think it will be so much difference because I will hold the coins for several years.

I am from Munich and there are tons of traders for OTC here... so how much money could I save when doing this OTC? is it really worth?

@dkbit98: KYC is no problem for me. Would there be so much saving in comparison to binance?

https://www.bitcoin.de is your place to go.

I believe OTC will get you worse rates than at an exchange.

[vlom]

Hi,

I'm planning to buy BTC and ETH for 2k Euro in total. I want to buy it, put in on the ledger, and then put it into a bank vault.

Which exchange would you recommend for low fees? How much fees should I expect? Around 200 Euros?

I was thinking about meeting with people and trading OTC but as there are so many scammers I'm not sure whether I should do it.

Hope you can help!

fees are less important that the trustworthiness of the exchange. for these coins you can use bitstamp.

[k771]

thank you all.

yeah I miscalculated the fees. they will be around 20 euros for 2k which is totally fine with me. KYC is also no problem as I am already registered on binance. I was wondering about buying the cryptos OTC to save more money but I don't think it will be so much difference because I will hold the coins for several years.

I am from Munich and there are tons of traders for OTC here... so how much money could I save when doing this OTC? is it really worth?

@dkbit98: KYC is no problem for me. Would there be so much saving in comparison to binance?

https://www.bitcoin.de is your place to go.

I believe OTC will get you worse rates than at an exchange.

any particular reason why bitcoin.de instead of binance? the fees are as well 1% (expect for FIDOR bank 0,8%)..

[o_e_l_e_o]

@k771 I would not recommend you you to store your funds in an exchange

He specifically said he would be storing them on a hardware wallet, not on an exchange.

Instead I would suggest you to buy from here, and store your coins using Electrum wallet as it’s very simple to use and it’s secured too.

He specifically said he would be storing them on a hardware wallet inside a bank vault, which is significantly more secure than a software wallet.

I realize you are posting to hit your signature quota, but could you at least read the posts you are replying to before spouting out nonsense?


I am a big advocate for doing as little KYC as possible, and sending your documents to as few places as possible. If you have already undertaken KYC on Binance, and therefore have a fiat on-ramp via binance.je, then I would advocate using that rather sending your documents to another exchange.

Binance.je have trading fees of only 0.1%, and a withdrawal fee of 0.0005 BTC (< €4). Your entire transaction will cost less than €6 in fees if you use Binance Jersey. The amount you could save going OTC is only going to be a euro or two, at most. If you are already set up on Binance.je, I would just use them.

[malevolent]

The amount you could save going OTC is only going to be a euro or two, at most. If you are already set up on Binance.je, I would just use them.

Theoretically, he could save up to several percent if he made an ad on localbitcoins, but his ad would probably get little exposure or interest with a new account and no feedback/volume.

[pooya87]

~
any particular reason why bitcoin.de instead of binance? the fees are as well 1% (expect for FIDOR bank 0,8%)..

you said you wanted to buy bitcoin and ether (an altcoin which i would never buy) with fiat not with bitcoin or stable altcoins. Binance is an altcoin exchange that doesn't have any fiat market as far as i know. all they have is altcoins versus bitcoin and altcoins versus some stable coins like tether.
https://coinmarketcap.com/exchanges/binance/ pay attention to that T at the end of USDT.

edit: i missed @Lucius post above about their .je platform. it is weird how they keep creating so many new platforms!

[k771]

~
any particular reason why bitcoin.de instead of binance? the fees are as well 1% (expect for FIDOR bank 0,8%)..

you said you wanted to buy bitcoin and ether (an altcoin which i would never buy) with fiat not with bitcoin or stable altcoins. Binance is an altcoin exchange that doesn't have any fiat market as far as i know. all they have is altcoins versus bitcoin and altcoins versus some stable coins like tether.
https://coinmarketcap.com/exchanges/binance/ pay attention to that T at the end of USDT.

thx.

why wouldn't you buy ETH?

[Lucius]

you said you wanted to buy bitcoin and ether (an altcoin which i would never buy) with fiat not with bitcoin or stable altcoins. Binance is an altcoin exchange that doesn't have any fiat market as far as i know. all they have is altcoins versus bitcoin and altcoins versus some stable coins like tether.

You obviously didn't read my post (number 4), and if you read it then you found out that Binance has the option to buy crypto with fiat (EUR/GBP). I think this is the simplest solution for anyone in EU, especially because the fees are very low, and the KYC process is fairly quick and easy when compared to the competition (Bitstamp).

[Velkro]

I'm planning to buy BTC and ETH for 2k Euro in total. I want to buy it, put in on the ledger, and then put it into a bank vault.

Which exchange would you recommend for low fees? How much fees should I expect? Around 200 Euros?

I was thinking about meeting with people and trading OTC but as there are so many scammers I'm not sure whether I should do it.

Hope you can help!

Maybe 20 euro in total even less including exchange fee and transaction fees.
Do you really trust banks with your ledger? Safety #1-st, so thing about that again.
Why you chosen BTC and ETH? Its like apple and oranges, almost nothing in common and BTC is store of value while ETH is experiment without store of value concept.

[vlasrodz]

Hi,

I'm planning to buy BTC and ETH for 2k Euro in total. I want to buy it, put in on the ledger, and then put it into a bank vault.

Which exchange would you recommend for low fees? How much fees should I expect? Around 200 Euros?

I was thinking about meeting with people and trading OTC but as there are so many scammers I'm not sure whether I should do it.

Hope you can help!

Over the counter is much easier if you are going to deal with people you know personally. if you have a local exchange like what we have here things will be much easier, but if you don't have one then you can settle for a more reputable exchange like Coinbase Binaance and Kucoin, don't mind it's not really that big, what matter is your experience, I hope it goes smooth.

Are you sure about Coinbase? Have a little bad expirience with them
Or i can try them again?

[pedrog]

thank you all.

yeah I miscalculated the fees. they will be around 20 euros for 2k which is totally fine with me. KYC is also no problem as I am already registered on binance. I was wondering about buying the cryptos OTC to save more money but I don't think it will be so much difference because I will hold the coins for several years.

I am from Munich and there are tons of traders for OTC here... so how much money could I save when doing this OTC? is it really worth?

@dkbit98: KYC is no problem for me. Would there be so much saving in comparison to binance?

https://www.bitcoin.de is your place to go.

I believe OTC will get you worse rates than at an exchange.

any particular reason why bitcoin.de instead of binance? the fees are as well 1% (expect for FIDOR bank 0,8%)..

Binance is a new exchange with some really shady practices, I tend to stay away from those type of exchanges.

Bitcoin.de is legit as they come.