I have a wallet and I'd like to put some BTCs (or other crypto-currency) in it. My biggest concern is the fees and when/where they apply.
If I go to an ATM and I feed it with physical money to get my crypto-currency, do I have to pay some fees?
Would I use my crypto-currency to buy something online (same currency), are there any fees being applied?
Thanks for your help.
F.
1. AFAIK, transactions using ATMs need higher fees. I wonder is there any local exchange in your country? if there is, it is better to use the local exchange and make a deposit by fiat to the exchange (ensure and learn that the exchange is really trusted and reputable).
2. If there is no, you can learn about global exchanges such as Binance, you can deposit to this exchange using your credit card.
There are also some other reputable exchanges that accept using CC.
https://www.bestbitcoinexchange.io/payment-methods/credit-card/3. About fees
In exchange, commonly there are always fees applied to every transaction.
However, the fees will vary depending on the exchanges that you are using.
The fees commonly include:
- Deposit (some exchanges make free for a deposit, but some exchanges need a fee for deposit)
- Trading fees. This also varies on a certain percentage, but commonly under 1%. Choose the trading fees that range about 0%-0.5% maximally. So far, there are also some exchanges that offer zero-fee for maker trading.
- Withdrawal fees. This is commonly the biggest fee that you should spend when going to withdraw certain coins both for your fiat or other exchanges or wallet. That is why it is better to learn at first the coin that is better to withdraw using low fees.
