How to deposit USD to Bitcoin today without no fees?

[zxcv1]

I tried to do it last week. If I'd have been able to then I'd be up 20%. My fault for moving on to other things as it was hard to find a way to buy bitcoin.

Anyway,

Today I signed up at Coinbase and Kraken. Approved instantly. Problem is

1. Coinbase has high fees. It will also take 3-5 days.

2. Kraken has low fees but requires a wire transfer which costs $30 with my bank. It will also hold for several days.

Also signed up at Localbitcoins. LocalBitcoins was very fast to approve my account, but it's too sketchy.

Is there another way to buy Bitcoin now?

I'm obviously not going to contact a stranger online, which would probably be a scammer, and I also have no family or friends with bitcoin to buy from.

If I initiate everything today, it seems that the earliest would be next week with available options. At which point I probably would not want to buy. How can I buy it right now?

REVISION:
As it turned out, Coinbase lets you convert to bitcoin instantly before the money settles, if you trade using a connected personal bank account. You cannot use a business account. I ended up opening a personal bank account in person at a local bank which is supported by Coinbase and depositing cash to do the same-day transaction, the next morning.

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[bitmover]

Defeats the purpose. I want to buy Bitcoin TODAY. RIGHT NOW. Within 1 hour of NOW. How can I do this, all things considering? Why is it SO HARD??!!

You can try to buy p2p from someone you know. Then you can try to buy from someone in the forum...

obviously not going to contact a stranger online, which would probably be a scammer, and I also have no family or friends with bitcoin to buy from.

There are reputable members here which sold hundreds of thousands dollars in btc (look for a +1 icon in their profile and make all discussions public). As you have no reputation, you would have to pay first.


But you are overcomplicating things. If you want to have security, you need to have patience.
If you say "I want to buy 1000 shares of tesla stocks now! I have the money!!",  you just can't. You need at least 1-2 business days to have an account approved in a broker. There are fees, nothing is free in this world.

Do not choose your exchange based in fees. Fees are not important. If bitcoin skyrocket 3000%, your 20-30usd in fees will not make any difference.
Look for a reputable exchange.

I have a few suggestions for you while you wait your account getting verified in a good exchange (Kraken, Coinbase, Bistamp, Binance, whatever):

1 - Figure out how to store your bitcoins and download a proper wallet.
2 - Study how to keep your coins safe. Consider buying a ledger nano or a trezor hardware wallet.
3 - Understand what is a private and a public key. You will need to understand those concepts to keep your coins safe.

Calm down. Bitcoin is skyrocketing today, but in a few weeks we may have a -14% day as well. This is  a common volatitlity in this market. Today is not your last opportunity to buy some bitcoins.

Do not fomo

[Jawhead999]

You can try to use Cash App [1] it's no fees to deposit USD to Bitcoin on standard method, however it charge 1,5% for the premium method. For the transaction fee (buy and sell) Cash App charge you 1,75% and another fees which is "volatility fee" it will depend on the price fluctutations.

Also signed up at Localbitcoins. No such luck. It said several days for approval, and also after that several days to hold my money on the first deposit from fiat.
[EDIT: LocalBitcoins was very fast to approve my account. It is approved.]

Localbitcoins is P2P platform, you need to be careful when you want to buy from someone especially if they offer very cheap price (suspicious) you'll get scammed then. Check his account reputation before trading and try to choose irreversible payment method instead of reversible payment method [2]

[1] https://cash.app/
[2] https://bitcointalk.org/index.php?topic=14632.0

[zxcv1]

Defeats the purpose. I want to buy Bitcoin TODAY. RIGHT NOW. Within 1 hour of NOW. How can I do this, all things considering? Why is it SO HARD??!!

You can try to buy p2p from someone you know. Then you can try to buy from someone in the forum...

obviously not going to contact a stranger online, which would probably be a scammer, and I also have no family or friends with bitcoin to buy from.

There are reputable members here which sold hundreds of thousands dollars in btc (look for a +1 icon in their profile and make all discussions public). As you have no reputation, you would have to pay first.


But you are overcomplicating things. If you want to have security, you need to have patience.
If you say "I want to buy 1000 shares of tesla stocks now! I have the money!!",  you just can't. You need at least 1-2 business days to have an account approved in a broker. There are fees, nothing is free in this world.

Do not choose your exchange based in fees. Fees are not important. If bitcoin skyrocket 3000%, your 20-30usd in fees will not make any difference.
Look for a reputable exchange.

I have a few suggestions for you while you wait your account getting verified in a good exchange (Kraken, Coinbase, Bistamp, Binance, whatever):

1 - Figure out how to store your bitcoins and download a proper wallet.
2 - Study how to keep your coins safe. Consider buying a ledger nano or a trezor hardware wallet.
3 - Understand what is a private and a public key. You will need to understand those concepts to keep your coins safe.

Calm down. Bitcoin is skyrocketing today, but in a few weeks we may have a -14% day as well. This is  a common volatitlity in this market. Today is not your last opportunity to buy some bitcoins.

Do not fomo
https://cdn-images-1.medium.com/max/1600/1*7rlQ26GCk6K5zwa2PPKZEQ.jpeg

I'm already verified in 3 exchanges.

I don't want all this privacy crap. I know how to not choose 0000 as a password and not leave my phone in public places and not give my info to scammers. All these stupid rules are for

1. privacy violation (money laundering laws are 99.999% ineffective, they only serve to give the government more power)
2. idiots who choose 0000 as their password

Not for people with a brain. This is all bloody nonsense and I hate the world.

As for your other points, I already know all 3 points. I'm extremely tech savvy and run web servers. I know what private keys are.

[zxcv1]

You can try to use Cash App [1] it's no fees to deposit USD to Bitcoin on standard method, however it charge 1,5% for the premium method. For the transaction fee (buy and sell) Cash App charge you 1,75% and another fees which is "volatility fee" it will depend on the price fluctutations.

[1] https://cash.app/

I tried to use cash app to send some people some money from craigslist 3 times over several months after verifying my account. All 3 times it FAILED I had to spend an hour each time finding another way. Two times I used zelle. Third time my friend wrote a CHECK (!!) because I didn't have cash and cash app AGAIN BLOCKED me and there was no other way to pay. Fortunately my friend has a check on them because otherwise I would have had to turn away the seller disappointed.

Bottom line, Cash App sucks.

Zelle sucked too though. My payment ended up being blocked and I had to spend 2 hours going into bank of america to get them to release the money. Was pissed about that. Fortunately I said not to block me anymore and I paid on a later day without any issues via zelle.

[zxcv1]

There are reputable members here which sold hundreds of thousands dollars in btc (look for a +1 icon in their profile and make all discussions public). As you have no reputation, you would have to pay first.

I would consider buying from a forum member. I bought and sold other things on forums before. How do I find them, I'm not seeing it

I see if I click on your profile the Trust section, if that's what you mean. I just have to browse the forum trying to find someone one-by-one?

[SamReomo]

You may try sites such as Paxful and localbitcoins as on those sites you directly buy from other persons with very low fees than the other sites. You may also try Binance P2P to buy USDT by using USD and and change that USDT to Bitcoin with almost no fees.

Binance P2P should most probably be a good and valuable option for you because it is far more safe and easier than other P2P sites. However, be sure to P2P with those who have good amount of reviews, as well as some good USD to USDT or USD to BTC rates.

Most of the sellers try their best to overprice BTC or USDT to earn maximum profits for themselves, thus it is better to choose those with good reviews and competitive prices.

[kotajikikox]

You can Directly Buy to Trusted seller here in forum but No fees? i don't think there is no such thing in this crypto unless the wallet/exchange you are using charge no fee for each transactions use to their network like what we have in our local wallets.
Here we can directly send Bitcoin or even our Fiat from wallet to wallet without any charges .



But all in all , all you need to have is to transact here in forum , there are many reputable People and services here that i'm sure will deal in your needs in appropriate ways.

[xcaret]

I'm glad you posted all your experiences, and that so many have answered .

I first bought BTC in 2018, but from an ATM at 15% fee ,now I'm learning a lot of how to go about it.

Keep the questions ,and ,answers coming . You all are bringing up loads of stuff a lot of people on here won't know!

Good post !

[xcaret]

You can Directly Buy to Trusted seller here in forum but No fees? i don't think there is no such thing in this crypto unless the wallet/exchange you are using charge no fee for each transactions use to their network like what we have in our local wallets.
Here we can directly send Bitcoin or even our Fiat from wallet to wallet without any charges .

Do you mean you can send Fiat ( us dollars ) back and forth ,wallet to wallet ? Not only is XYZCV learning a lot ,but I'm listening in too.

[bitmover]

There are reputable members here which sold hundreds of thousands dollars in btc (look for a +1 icon in their profile and make all discussions public). As you have no reputation, you would have to pay first.

I would consider buying from a forum member. I bought and sold other things on forums before. How do I find them, I'm not seeing it

I see if I click on your profile the Trust section, if that's what you mean. I just have to browse the forum trying to find someone one-by-one?

No.

You need to go to this board:
Currency exchange

There you will find many topics of people buying and selling bitcoin using paypal, ethereum and other methods. Find a reputable seller with a positive trust rating.
Buy a small fraction first, try everything, then buy again...slowly. my suggestion.


For example, look at this post:


https://bitcointalk.org/index.php?topic=5314840.0

Quick smooth trade. Both have positive ratings, they are reputable members.

They are unlikely to scam you, although you shouldnt trust 100% anyone

[zxcv1]

It's many hours now and my whole night was WASTED.

I give up, I just lost whatever money I could have earned.

$55 here and there isn't going to make me any real money. I was to put thousands in and I'm not sending thousands to any forum member or stranger on the internet.

I want to do with Coinbase but I can't because my bank account says I already added it, but can't send with it, and that takes 3-5 days. I want to send a wire transfer, but it says the name has to match exactly, and won't post until the morning anyway. Well the name won't match exactly because it's a BUSINESS ACCOUNT with a BUSINESS NAME. My personal name is on the business account, but it's a business account so I don't know if that will be a problem and coinbase has NO SUPPORT and even a warning that there are "delays" with them getting back to people. Meaning I won't get an answer until I've lost thousands in profits since I couldn't invest until then.

I hate this stupid world.

[DannyHamilton]

I hate this stupid world.

Yep.  None of this is a Bitcoin problem.  ALL of these are "traditional banking" problems.

If you had bitcoin, you could instantly send it to anyone (or any business) in theentire world with a bitcoin address, at any time of day or night, on any day of the week for minimal fees.

Unfortunately, the traditional banking world has lots of roadblocks, inconveniences, delays, costs, and complications.

[jerry0]

You from the US right?  Isn't coinbase pro the cheapest though of all to buy btc?  What about binance US?

[Leviathan.007]

Coinbase fees are too high and if you want to deposit/withdraw USDT on any exchange without fee I would recommend you to use the tron network and usdt on trc-20, because the omni and eth fees are so higher than trc20. Also in order to lower the fees you can try p2p exchanges. Try Localbitcoins also, but be careful when you are trading with people specially when they are offering very nice rates. chashapp can be also another cheap option.

[John M.Wills]

Hi dear, this is not a bitcoin issue it's a banking issue. I take the help of Getcoins in this by transferring USD to bitcoin and bitcoin to USD with a small amount to transaction fees as this is its main benefit.

[zxcv1]

You from the US right?  Isn't coinbase pro the cheapest though of all to buy btc?  What about binance US?

I've done it and now I have bitcoin.

Binance wouldn't confirm because I need an ID with the same address as my proof of address. I've moved recently. It would take some time before I could get a replacement ID with a new address on it - by postal mail, and 1 to 3 weeks, not to mention finding a day that I can commit the whole day to the DMV, unless I can do it online.

Coinbase was a pretty good option though. Although I got approved in full at several vendors including Kraken and LocalBitcoins, the risk didn't seem to justify the marginally lower costs. Even at thousands of dollars, it's just a few dollars extra in fees - although I don't know about the other fees like withdrawal.

But still, Coinbase seemed like the best option. I was going to wire transfer, because I didn't have a compatible personal account. Instead, I woke up early, withdrew some cash out of an existing bank (in person), got into a bank and opened a new personal account, deposited the cash, it was set up immediately with me in person and ready to use, as well as the funds available immediately since the funds were deposited in cash (physical dollars).

Then I just linked the bank account in coinbase, bought bitcoin, and two minutes later I had bitcoins.

I feel more comfortable with my money in Coinbase than others with less liquidity, not to mention the others like Kraken could only accept a wire transfer.

Of course, this doesn't count the 8 hours yesterday trying to get approved as well as last minute research on which website to pick to buy bitcoin, nor the 8 hours the previous week doing the same research and attempts.

LocalBitcoins couldn't even do it because the sellers, which still sold at a big markup, wanted an inordinate amount of personal info, and even then, wouldn't do it if you had less than 10 or 30 trades, which means for the first trade, you'd have to choose the most expensive and most sketchy seller and possibly lose your money - and your identity. Big risk.

So in summary I used Coinbase after verifying, creating a new personal account, depositing cash, and connecting to Coinbase to instantly purchase bitcoin.

Anonymous? Impossible. The government assured that you will not be able to anonymously buy bitcoin, not within one day with legitimate platforms and not back alley shady deals.

The nice thing is that Coinbase let me deposit and buy bitcoin immediately, without any additional wire fees (didn't use wire transfer), although it won't allow me to withdraw for up to 9 days. But that's fine in my case. For day trading on the same day from scratch, I don't even think that would be possible with anyone based on my experience.

But I had to physically open a personal bank account, they don't accept business accounts, which wouldn't connect and you can't wire transfer from a business account. So a big hassle, but now I can buy bitcoin easily, and I did so within a half a day.

[DannyHamilton]

Coinbase was a pretty good option though . . . Even at thousands of dollars, it's just a few dolars extra in fees

If you're in a hurry, then you pay for the convenience of being able to make an immediate purchase even though the bank hasn't transferred the cash to Coinbase yet.

However, if you're willing to wait a few days for the bank to transfer the funds to Coinbase AND you're comfortable with the concept of market orders and limit orders, then you can reduce your Coinbase fees even more by using Coinbase Pro (pro.coinbase.com).  Fees for transactions up to $10,000 are only 0.5%, and as the total value of all transactions in a 30-day period increases that percentage drops.  For example, if a day-trader were to buy and sell $1000 worth of Bitcoin exactly once every day for 30 days (a total of $60,000 in volume, $30,000 each in both buy and sell volume, over the 30-day period) the fees would drop to 0.15% for limit orders that are added to the order book.

Coinbase (and Coinbase Pro) provide free bank transfers for both ACH and SWIFT transfers (they charge a small fee for Wire and SEPA).

[zxcv1]

Coinbase was a pretty good option though . . . Even at thousands of dollars, it's just a few dolars extra in fees

If you're in a hurry, then you pay for the convenience of being able to make an immediate purchase even though the bank hasn't transferred the cash to Coinbase yet.

However, if you're willing to wait a few days for the bank to transfer the funds to Coinbase AND you're comfortable with the concept of market orders and limit orders, then you can reduce your Coinbase fees even more by using Coinbase Pro (pro.coinbase.com).  Fees for transactions up to $10,000 are only 0.5%, and as the total value of all transactions in a 30-day period increases that percentage drops.  For example, if a day-trader were to buy and sell $1000 worth of Bitcoin exactly once every day for 30 days (a total of $60,000 in volume, $30,000 each in both buy and sell volume, over the 30-day period) the fees would drop to 0.15% for limit orders that are added to the order book.

Coinbase (and Coinbase Pro) provide free bank transfers for both ACH and SWIFT transfers (they charge a small fee for Wire and SEPA).

Right, but if you missed a surge then the couple dollars extra in fees is easily made up in minutes, like it was today. So it's better to do that in some cases (not all).

Plus since I didn't have time to do extensive research on everyone and saw the price still going up, I feel much more comfortable with one of the most trusted exchanges. And, after a week or so I can move it into my private wallet only controlled by me, I think. And then I'm totally safe. Assuming my wallet is safe.

I'm not sure what market orders and limit orders are. I have more to learn.

Interesting about the Coinbase Pro though. I would consider it. I'll need to learn about it. I'm not a day trader but would like to learn it. Just remember never to invest what you are not willing to lose.

[xcaret]

Coinbase (and Coinbase Pro) provide free bank transfers for both ACH and SWIFT transfers (they charge a small fee for Wire and SEPA).
[/quote]

I'm not sure what market orders and limit orders are. I have more to learn.
[/quote]

I don't anything about coinbase, but buying stock like say in General Motors . You would go to your account and see it selling for let's say $100 ,that's the market price . If you click on "Buy at market" You request would be filled at $100 per share . Let's say the stock has been bouncing up and down, and it isn't at the usual bottom of it's bounce . That's when you might try buying it at $95.00 ,so you would click on the limit box ,and write 95.00 into it. If the bounce or rebound dips to $95.00 you will be sold the stock at $95.00 .

BTW I liked your add on ,at the end of your post  saying never invest more than you can afford to loose .
My friend, you are probably going to do very well over time . you are using your head wisely , a rare thing in this market.
Good luck !