awday (OP)
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October 29, 2020, 03:37:16 AM |
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I know this will depend on where you are, but where do you get the best rate for buying and selling bitcoin?
I take it pure peer to peer would be the best.
In general, are places like localbitcoin better than the large exchanges like Coinbase?
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mk4
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October 29, 2020, 04:27:03 AM |
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Privacy advantages aside, the great thing about peer-to-peer exchanges is not necessarily that bitcoin are cheaper, it's mostly that you can browse these exchanges for offers, or if you don't like the listed prices, you could always set your own buy/sell offer and wait. But yea, they can also be cheaper in terms of fees. Check out HodlHodl[1] and Bisq[2].
[1] https://hodlhodl.com/[2] https://bisq.network/
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October 29, 2020, 10:39:52 AM |
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If you do not have any problems with the tax office and if you do not strive to buy cryptocurrency unofficially, then the best option would be to use large centralized exchanges. This ensures you don't have any problems or any annoying mistakes that beginners can sometimes make.
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awday (OP)
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October 29, 2020, 12:24:43 PM |
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If you do not have any problems with the tax office and if you do not strive to buy cryptocurrency unofficially, then the best option would be to use large centralized exchanges. This ensures you don't have any problems or any annoying mistakes that beginners can sometimes make.
Thanks. Would they tend to be the best option in terms of fees as well?
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Lhaine
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October 29, 2020, 04:42:40 PM |
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If you do not have any problems with the tax office and if you do not strive to buy cryptocurrency unofficially, then the best option would be to use large centralized exchanges. This ensures you don't have any problems or any annoying mistakes that beginners can sometimes make.
Thanks. Would they tend to be the best option in terms of fees as well? You can check it here https://www.bitdegree.org/crypto/cheapest-cryptocurrency-exchange. May I know where is your location is ? if you can buy it in your local exchange then thasts better but if you find it much cheaper to use other exchange then you can choose in that option. If you are looking for more exchange option you can check this one https://www.cryptowisser.com/exchanges/ .
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OmegaStarScream
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October 29, 2020, 05:11:05 PM |
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It depends on the payment method and your location. IMO, if you're going to use something like Skrill, Neteller or PayPal, etc. then yes, peer to peer might be the best option but if you're from the EU or the U.S and you do have a bank account, then centralized exchanges could be better for you. I personally don't like suggesting CEXes because of the KYC procedure, but since you already know about LBC and Coinbase, I assume you don't have a problem verifying your identity.
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awday (OP)
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October 30, 2020, 03:09:40 AM |
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If you do not have any problems with the tax office and if you do not strive to buy cryptocurrency unofficially, then the best option would be to use large centralized exchanges. This ensures you don't have any problems or any annoying mistakes that beginners can sometimes make.
Thanks. Would they tend to be the best option in terms of fees as well? You can check it here https://www.bitdegree.org/crypto/cheapest-cryptocurrency-exchange. May I know where is your location is ? if you can buy it in your local exchange then thasts better but if you find it much cheaper to use other exchange then you can choose in that option. If you are looking for more exchange option you can check this one https://www.cryptowisser.com/exchanges/ . I am in Thailand. I just have a hard time figuring out all the fees and exchange rates for buying and wondered which was best.
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awday (OP)
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October 30, 2020, 03:22:35 AM |
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It depends on the payment method and your location. IMO, if you're going to use something like Skrill, Neteller or PayPal, etc. then yes, peer to peer might be the best option but if you're from the EU or the U.S and you do have a bank account, then centralized exchanges could be better for you. I personally don't like suggesting CEXes because of the KYC procedure, but since you already know about LBC and Coinbase, I assume you don't have a problem verifying your identity.
No kyc would be best for me. I used coinbase for my first small purchase but was not crazy about it as you mention. I have a larger purchase or two coming up and just want the best rates and lowest fees. Thanks to all I will check out the suggestions.
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October 30, 2020, 03:41:45 AM |
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It depends on the payment method and your location. IMO, if you're going to use something like Skrill, Neteller or PayPal, etc. then yes, peer to peer might be the best option but if you're from the EU or the U.S and you do have a bank account, then centralized exchanges could be better for you. I personally don't like suggesting CEXes because of the KYC procedure, but since you already know about LBC and Coinbase, I assume you don't have a problem verifying your identity.
No kyc would be best for me. I used coinbase for my first small purchase but was not crazy about it as you mention. I have a larger purchase or two coming up and just want the best rates and lowest fees. Thanks to all I will check out the suggestions. It all depends on how much you want to purchase really. How large is a large purchase. If you are buying less than $1000 then just save yourself the hassle and go to a bitcoin ATM, the fees are huge (10%) but its quick and KYC free. You can use peer to peer but it gets tricky if you want to buy larger amounts. Basically if you want to buy $10K worth or so, its risky doing it in person because you have no idea if they will rob you or not. Hence if you use some peer to peer exchange, make sure you use someone who has tons and tons of feedback and reviews. Many people were robbed this way. So if you want to purchase 5 figures or more, just use a centralized exchange, go the KYC route because it will be the safest in my opinion. The rates depend on the broker. For example Gemini has 0.1% fees if you use their API, regular fees are crazy high like 2%. There is Bitfinex which has 0.1% fees, there is also Kraken, etc. Need to go to each exchange and see if it supports your country and payment methods.
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michellee
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October 30, 2020, 04:15:42 AM |
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The best you can use to buy or sell bitcoin is the best price you are willing to accept the price. If the price now is at $13,200, and you accept the price, whether it's down or up, you can buy at the current price. But if you are not accepting the price, you will not buy or sell bitcoin because you can not accept it if the price is up or down. I am in Thailand. I just have a hard time figuring out all the fees and exchange rates for buying and wondered which was best.
How about https://www.bitkub.com/ because I do a little search using Google, and that site is at the first link, so maybe you can visit the site to see if that fit for you. Or you can search for the other exchange on https://www.bitrawr.com/thailand
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akram143
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October 30, 2020, 04:58:21 AM |
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I know this will depend on where you are, but where do you get the best rate for buying and selling bitcoin?
I take it pure peer to peer would be the best.
In general, are places like localbitcoin better than the large exchanges like Coinbase?
Peer to peer exchange traders offers better rates but it highly depends on which country fiat money you are going to trade.If you are from a country where more trader available on LBC will offer better rates due to high competition but you are also in the risk of getting scammed when you look for the best price because cheaters will use hacked accounts and buy your bitcoin for premium price.
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TheUltraElite
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October 30, 2020, 06:03:58 AM |
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I know this will depend on where you are, but where do you get the best rate for buying and selling bitcoin? I dont think rates vary too much between centralized or decentralized exchanges. Previously people could buy from one and sell on another and get a 1-2% profit based on price variations even on a stable market. But is not so now. I take it pure peer to peer would be the best. In p2p it would depend on the buyer/seller. They can fix a price and you have to accept that. Eventually with increase in number of traders on a p2p platform the average price tend to go towards the current market price because of competition and wish to trade. In general, are places like localbitcoin better than the large exchanges like Coinbase? Both have their pros and cons. Try both and see which one you like.
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Dorodha
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October 30, 2020, 12:30:49 PM |
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It is true that buying and selling Bitcoin will depend on the country where you live and you will get the right price. Many countries around the world do not yet support Bitcoin, so peer-to-peer is the best alternative to Bitcoin. Bitcoin is an open digital finance system. Bitcoin works on peer-to-peer network cache system technology so it has no central server or central storage, and it is not possible to clearly identify the owners of Bitcoin. Above all, Bitcoin has no central or regulatory authority this is why it is a very safe system.
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mersal
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October 31, 2020, 04:42:45 AM |
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I know this will depend on where you are, but where do you get the best rate for buying and selling bitcoin?
I take it pure peer to peer would be the best.
In general, are places like localbitcoin better than the large exchanges like Coinbase?
Price differs from exchanges to exchange, so we can't conclude that this exchange has better rates than this one.Taking coinbase into account where the prices are normally same as the prices projected on cointracking websites but on peer to peer exchanges traders can set their desired prices in positive or negative to the market price which makes it more lucrative and instant payment options make people to go for it when they are trading crypto to fiat and vice versa.
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CryptopreneurBrainboss
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October 31, 2020, 06:26:14 AM |
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In general, are places like localbitcoin better than the large exchanges like Coinbase?
When profitability and comfortability are brought into the discussion, and since I am to use a centralized platform to buy the coins, I believe platform like Binance are preferable to centralized peer2peer exchange. Firstly their rate are more profitable. Example, the exchange rate of bitcoin to my local currency is more profitable if you're selling as you stand a chance of recieving more Naira or dollars per se. Although that's not the case for buying as if you were to use the Binance exchange you'll still be buying high as the selling rate was high and the buying and selling rate are fixed to each other although if you make use of peer2peer exchange exchange, there are many possibilities of getting the coins cheaper as the seller have the choice of lowering their prices to attract buyers faster.
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carter34
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October 31, 2020, 09:31:36 AM |
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I do prefer a peer 2 peer platform and though dislike exchanges that require KYC like coinbase that makes it as a requirement for such transaction. We also remember that it is not stable with the fluctuation and some times it is reevaluated with the current rate.
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awday (OP)
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November 02, 2020, 06:11:01 PM |
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How would the fees and exchange rate be at Blockfi vs Coinbase for buying Bitcoin?
I find it difficult to figure this stuff out. It seems like you have to have an account and go through KYC just to know what the Blockfi rate would be.
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Harlot
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November 02, 2020, 06:26:51 PM |
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If you are looking for the best rates possible I think you need to look at directly buying and selling your cryptocurrencies to a buyer or seller since in this way you will be removing several fees and commissions that will come out on their services aside from that you'll also remove the rate difference from liquidating your cryptocurrencies to fiat within any service. Direct P2P will be straight to the point, if you like the exchange rate then you can take advantage of it without any additional cost involve.
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pilosopotasyo
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November 03, 2020, 01:17:54 PM |
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I know this will depend on where you are, but where do you get the best rate for buying and selling bitcoin?
I take it pure peer to peer would be the best.
In general, are places like localbitcoin better than the large exchanges like Coinbase?
I don't think so if your's going peer to peer you have to agreed on what price that you are going to trade or deal on exchange you can get a better rate if you set a much higher rate on your sell or buy order and let the market decides on the best rate, honestly I have never tried local Bitcoin I am more comfortable trading on exchange I feel much safer trading there.
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