How to Buy Bitcoin Cheaper

[Jawhead999]

I don't think 0.1% fees is very high, its cheap IMO. While people sell on P2P platform using his own price to gain profit. If you see someone sell crypto very cheaper than centralized exchanges, it must be a scammer. Be careful before buy on P2P platform, there're a lot victim got scammed [1]

Centralized exchanges is the best option to buy crypto with lowest fee, but you need to take a risk if your funds can be frozen, hacked or asking for KYC.
[1] https://bitcointalk.org/index.php?topic=5269139.0

[1715096712]

1715096712

[abel1337]

It is true that you can set your own price while trading on peer to peer trading platform but do you ever wondered why anyone has to sell their bitcoins cheaper than the market price, and also you need to remember if you are going to place a buying advertisement then higher the price will be in the top of the list and if you are setting too low fee means you will be on the last pages and no one ever see your ads.

I agree with this, The seller would obviously go for the top of the list because he can get better than anyone below that, There are other things you can do to buy bitcoin for a lower price but it is not the most practical compared in buying on a p2p websites.

One of the possible scenarios I think of in buying bitcoin cheaper than a market price is to wait for someone who needs to sell their bitcoin in a rush state and in the same local place as you are. Sometimes converting bitcoin into fiat takes time and selling it lower into your local place in a rush state is a logical thing to do especially if the seller badly needed cash. This scenario happen rarely but it is possible since I have done it myself.

[john_nautica]

It is true that you can set your own price while trading on peer to peer trading platform but do you ever wondered why anyone has to sell their bitcoins cheaper than the market price, and also you need to remember if you are going to place a buying advertisement then higher the price will be in the top of the list and if you are setting too low fee means you will be on the last pages and no one ever see your ads.

I agree with this, The seller would obviously go for the top of the list because he can get better than anyone below that, There are other things you can do to buy bitcoin for a lower price but it is not the most practical compared in buying on a p2p websites.

One of the possible scenarios I think of in buying bitcoin cheaper than a market price is to wait for someone who needs to sell their bitcoin in a rush state and in the same local place as you are. Sometimes converting bitcoin into fiat takes time and selling it lower into your local place in a rush state is a logical thing to do especially if the seller badly needed cash. This scenario happen rarely but it is possible since I have done it myself.

Truly, this would be what most people who wants to sell Bitcoin would do if they wanna do it as soon as possible. As per your experience, I also had this experience when I had to go though an emergency situation, I'm just left the choice of converting my bitcoins into flat so I could have cash on my hands right away.

[kryptqnick]

In this exchange, asset prices are not “regulated” by the exchange manager, but directly by the users. In principle, a peer-to-peer (P2P) exchange is a crypto asset exchange that is similar to an online shop, aka a marketplace.

Bullshit.

There is no such thing as a manager regulating prices in exchanges.

So you think you will buy bitcoin cheaper from someone else? And who is the idiot that will sell you bitcoin below the price? If you find someone who wants to sell bitcoin for 6k , you can be 100% sure you are going to get scammed.

Nobody will sell bitcoin for a price lower than the exchange price. This is because he can just sell at an exchange.

Yeah, I also felt like it wasn't the case with international exchanges that the prices were fixed... I mean, that's what makes Bitcoin different, isn't it? I'm pretty sure that BTC price on reputable exchanges is set exactly by buy and sell orders. You're mentioning a possibility of being scammed, and I agree it's very real. But I do think there are notable exceptions to buying Bitcoin at the market price. Namely, there've been reports from countries with very high level of governmental control where Bitcoin could only be bought or sold on a government-controlled exchange at set prices which differed 10-20% from the international market prices (still not that much and probably inaccessible to people who are not from that country). Unfortunately, I'm having troubles finding those reports, so maybe even that wasn't the case. However, I remembered now that I've spotted something like this once on my local exchanges when the price of Bitcoin went down rapidly in March, and they have not adjusted their prices:

As for local exchanges (centralized ones where the prices seem to be set rather than determined by the market) that allow selling Bitcoin for UAH (local Ukrainian fiat), the situation is quite attractive but I won't do it anyway. Namely, while the price of BTC on preev.com is 133 500 UAH, local exchanges still offer around 148 700 UAH (which is around $5700) per Bitcoin! Buying Bitcoin is possible but hugely unprofitable as the price is around 160 000 UAH per BTC or around $6150!

[DarkDays]

I think you'll find that P2P exchanges, e.g. LocalBitcoins, LocalEthereum etc, almost always tend to sell Bitcoin/Ethereum at a premium.

The only way you can realistically get Bitcoin at cheaper than market rates is under the following conditions;

1. Purchasing it from a dubious source, e.g. people trying to sell stolen Bitcoin quickly or get rid of tainted coins
2. Purchase in massive bulk OTC—a max discount of 1-2% is the best you can hope for here.
3. Purchasing forward contracts from a Bitcoin miner—but then you take on the volatility risk.

Other than these ways, there aren't many other ways (unless you count trading on leverage as buying Bitcoin for cheap.)

[Ucy]

From my observation, competitions from buyers on some peer-to-peer can be quite exploitative. The prices displayed by those I traded with last year or so, are not usually the final prices. They tend to negotiate further below once you click to trade with them. I guess the buyers sell at higher prices on exchanges with fixed price for profits or they somehow sell at higher price on thesame p2p exchange.

Lots of the peer-to-peer exchange are still centralized though. I think what people should be using more is decentralized p2p exchanges or even the non-custodial "hybrid" ones (assuming they exist)

[Twentyonepaylots]

1. Purchasing it from a dubious source, e.g. people trying to sell stolen Bitcoin quickly or get rid of tainted coins

I'm thinking what if I bought a stolen bitcoins from hackers, would I be consider as their accomplice? If I know what bitcoin am I going to buy? I'm quite curious about it, anyways congrats to myself for getting it in cheaper price lol

2. Purchase in massive bulk OTC—a max discount of 1-2% is the best you can hope for here.

This one is good, especially when you buy a huge amount you could safe a thousand of dollars with this.

3. Purchasing forward contracts from a Bitcoin miner—but then you take on the volatility risk.

This will take a huge balls from the contractor if he wants to sell it out right after he bought it, but in the long I guess it will still be beneficial.

The best that I can think of is buying p2p, buy to those who don't want to visit hit with exchanges.

[NeuroticFish]

Buying cheaper means to buy the dip. Period. Bitcoin price fluctuates quite enough to offer plenty of such opportunities.
Ah, and obviously don't play with too small amounts because then the fees matter too much.

P2P is good for privacy, but it has its risks too. But I'm not convinced it does help much on getting Bitcoin cheaper.

[Rana590]

At this moment fees are very high. If anyone wants to buy from local market, she/he can able to to buy huge amount at cheaper price. It doesn't take fee from buyer. So, it is the best way i think.

[Findingnemo]

At this moment fees are very high. If anyone wants to buy from local market, she/he can able to to buy huge amount at cheaper price. It doesn't take fee from buyer. So, it is the best way i think.

Still the user have to send bitcoins to your right, if you are buying in huge quantity the trader never consider the fee but if it is going to be very less amount then he will reduce the total bought amount from the required transaction fee.And I don't think anyone wants to buy or sell in huge amount with their money will go for a local market because there are lot of risks involved when you are dealing with persons.

[target]

You'd be lucky if you can pick a price lower than the market price. P2P doesn't mean the coins and tokens there are cheap, its how the sellers are going to put sell order, no different form the CEX.  If I sell my BTC, why would I sell it for a cheaper price?  If you wanna buy cheaper BTC, then trade on BTC/USDT. It just needs waiting for dips. Easier said than done though.

[Wawa2013]

It is true that P2P exchanges have the advantage of selling or buying Bitcoin for a cheaper price than centralized exchanges.
However, if you make transactions on P2P exchanges, you must use an escrow service, to avoid scams. Despite its apparent
promise, many people prefer to use centralized exchanges over P2P exchanges. Because usually the price difference is not too
far apart, so many people prefer which centralized exchanges has a much better security system.

[ilovealtcoins]

I think to buy Bitcoin cheaper you should use the P2P exchange service at the major exchanges such as Binance, Houbi, Okex. If you are careful, you can buy USD and wait for bitcoin to go downhill and buy Bitcoin at a price you think is reasonable. Do not directly buy bitcoins via visa cards or low liquidity exchanges as this could cost you some unnecessary costs.

[LogitechMouse]

If you are lucky to see cheaper Bitcoin prices in a P2P exchanges then good for you.

Sometimes, picking a legit and trusted P2P exchange will help you. Binance P2P is good base on the reviews of the people who bought on that exchange. Either way, P2P transaction doesn't mean that you will buy it at a cheaper price. Sometimes they are more expensive than the normal trade. What's good in Binance P2P too is that there is no charges on it.

[ArcheAdvertising]

All traders want to always buy Bitcoin at a price cheaper than the market price. Apart from buying and selling on the ordinary, centralized crypto asset exchange, there is another option, namely a peer-to-peer exchange. In this exchange, asset prices are not “regulated” by the exchange manager, but directly by the users. In principle, a peer-to-peer (P2P) exchange is a crypto asset exchange that is similar to an online shop, aka a marketplace. The role of the stock exchange manager is only to bring together the seller and buyer of assets directly on one platform. In other words, for example, if you want to sell Bitcoin, you have a trading booth on that platform. It is also possible to place ads on that platform by specifying the selling price of the asset. The advantage of an exchange like this is that the seller is free to determine the selling price as he wishes and the buyer can freely look for price variations on the exchange. Buyers can even get a much cheaper price than buying on a regular exchange.

Basically you spent the entire publication describing the method used by p2p exchanges such as Localbitcoin, binance or coinbase, all these platforms allow p2p trading, personally one is better than another for any type of operations but to transfer FIAT money to BTC I think there is nothing better than localbitcoin. Regards.

[mezzaluna]

If you are pertaining to a topic if there are situations on when Bitcoin's got a discount, I would think that it would not be possible since Bitcoin's value is always true and can't have any sort of computational value from it. We can always look at Bitcoin's value in a graph on where we can speculate on if the value can go higher or lower but that value is always true.

Though we can see some exchanges that might have different values for their Bitcoin but that also depends whether the fee they are going to use is equivalent if we really are saving money in buying from that exchange.

[verita1]

The P2P exchange is a good way to buy bitcoin cheaper sometimes but not all the time and it will depend on the behavior of the market. Where I frequently sell BTC, we have low exchange commissions which allow me not to lose my profit. For the use of escrow the commission is 0.4% and bitcoin withdrawal 0.0003. In addition to having the advantage of depositing a minimum of 0.0005 BTC for trader.
It is a secure platform for users because their bank accounts have to be verified. In addition to that they gain a reputation for the volume of trader. I speak of Cryptoway if in some of their countries it is available, try it.

[Bes19]

P2P is still not ideal since scammers are using it to scam people. I always wait for exchanges promo especially in new exchangers they always have a discount or an additional percentage if you buy Bitcoin.
But im not saying to do it too,just sharing how i buy bitcoin in a cheaper way.

[Tipstar]

Such platform would surely be beneficial for users, specially when you are doing crypto to fiat and fiat to crypto transaction as those transactions attracts the most fees.
Rates of trading of crypto are getting lower and lower. The thing you should be aware is of transaction fees and for some exchange transfer, withdrawal fees. Spot trading is cheaper if you just want to convert one coin to another and among them decentralized offer better rate if you want to change coins to token of the same platform.

[shoreno]

online shops not related to crypto have two versions too because i notice that some online shops have  products that are being sold by a big company and not by individual small sellers . i prerfer to buy on the other type so that we can negotiate the price to possibly make the deal lower and save more . placing ads is not recomended because the reason you buy on this kind of marketplace is to save  . you can just post your deal for free aside from searching for your prefered price