Ways to buy bitcoin online, incl fees, % markup etc

[bradbrad]

Howzit Guys

So I have primarily used localbitcoins.com to purchase BTC, but currently (in my region at least) the prices are extremely inflated (6%-22%). I know there are hundreds of posts on this same topic but there is still not a clear answer and I am hoping the community can help me build a definitive list.  FYI - I am based in South Africa. Basically I just want to know what is the cheapest way to bitcoin online.

I want to find out where is the most affordable place to buy bitcoin online. Including fees, limits, markup, time delay etc. From my findings so far:

1. Coin base
Fees:3.99%
Markup: Not sure
Limits: Depends on the account level.
BTC wallet transfer out fee: none

2. Bitstamp
Fees:5%
Markup: Not sure
Limits: Not sure
BTC wallet transfer out fee: 0.0005 BTC

Feedback will REALLY be appreciated!!

[mk4]

If you really want to buy bitcoin with little to no fees, you'd have to spend a bit more time in looking for those sell offers.

1. Look for local sellers that are willing to sell bitcoin to you at market price; may it be through local social media groups, or through something like Mycelium Local Trader[1].
2. Look for sellers here on the Currency Exchange[2] section; though most are going to be sold in USD(you'd have to convert it to ZAR).

I personally know a friend in the city I'm currently in that sells bitcoin, so I just buy off him without any fees and any markup. Hence I don't use exchanges that much except when I need to buy/sell coins urgently. Probably try looking for your own sort of "personal bitcoin dealer".

[1] https://mycelium.com/lt/help.html
[2] https://bitcointalk.org/index.php?board=53.0

[hugeblack]

The cheapest method lies in finding a person who buys from you without an escrow (current Market price,) and therefore you may be able to buy or sell without paying fees or the lowest possible fees. The danger of this method lies in the difficulty of finding reliable people.

If you do not know anyone, then why not search for intermediary services. For example, according to what I know, Skrill is available in South Africa and you can use it to withdraw your funds to your via SWIFT (bank account) or send money to your credit card.