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Author Topic: Bought my first 0.1 BTC  (Read 5732 times)
mauinho (OP)
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August 15, 2014, 12:14:00 AM
 #1

 OK just bought my first BTC investment to test the waters!

Now I have a question I'm in the UK and I've bought from Bittylicious, tho it's very easy and fast to use it's quite a lot of money over price market paid a good £20 quid over . Now is that the usual fee or are there cheaper ways to trade my fiat for BTC in the UK I feel I'm paying a Premium for the service and I admit it's a good service so far.
Now another question is what is the easiest safest way to cash out back to fiat? Im planning on investing on 4 or 5 BTC then hodl for a few years or so but if in a emergency I need to cash out what's the easiest way ATM and will I have to pay a PREMIUM again?

Thank you for your help .
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cryptworld
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August 15, 2014, 12:49:31 AM
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you should try with an exchange like bitstamp or kraken
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August 15, 2014, 12:57:40 AM
 #3

OK just bought my first BTC investment to test the waters!

Now I have a question I'm in the UK and I've bought from Bittylicious, tho it's very easy and fast to use it's quite a lot of money over price market paid a good £20 quid over . Now is that the usual fee or are there cheaper ways to trade my fiat for BTC in the UK I feel I'm paying a Premium for the service and I admit it's a good service so far.
Now another question is what is the easiest safest way to cash out back to fiat? Im planning on investing on 4 or 5 BTC then hodl for a few years or so but if in a emergency I need to cash out what's the easiest way ATM and will I have to pay a PREMIUM again?

Thank you for your help .

If you live in London or near a major metro area I'd say look into localbitcoins or look on craigslist for a face-to-face exchange.  This can be the nicest way to avoid premiums and fees and whatnot.  It's not really an option for folks that live in the rural areas but if you're in a city I say why not meet up with someone in-person?
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August 15, 2014, 01:05:53 AM
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0.1btc is a good start, never mind how you would cash out in a few years' time, i think the bitcoin market will be so different in a few years.
Davinus
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August 15, 2014, 01:12:30 AM
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Easiest and safest way?
In my opinion, buy and sell to a person through localbitcoin/currency exchange marketplace. Make deals with trusted member, use escrow or just meet them.
messibtc
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August 15, 2014, 05:40:45 AM
 #6

Nice investment, this is the best period to but because the value is in the low part of the yearly trendline, you will gain some profit Smiley

Chicowash
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August 15, 2014, 05:59:43 AM
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just use a normal exchange like bitstamp, or BTC-e.
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August 15, 2014, 07:30:31 AM
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Congratulation on your investment, it's a low amount of money but who knows where btc will arrive...
guybrushthreepwood
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August 15, 2014, 09:26:54 AM
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You always will pay a slight premium on Bittylicious but £20 over is ridiculous. Are you sure that's right? What payment option did you use? Some are more expensive than others but you shouldn't have paid that much.
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August 15, 2014, 09:28:35 AM
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You can buy bitcoins from the marketplace here and you don't need to pay a premium and there's many payment options different people accept including bank transfer. Make sure to use escrow though.
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August 15, 2014, 09:46:34 AM
 #11

First of all congrats on your new find love with btc.
And No you don't have to pay any premium fee for services £20 is quite high than what most of the genuine exchanges charge. try Bitstamp or btc-e or just sell on currency exchange on this forum [Don't forget to use an Escrow]

But If you want to hodl for long term as you mentioned Pls store them offline and use paper wallet or similar cold wallets to keep them secure .

DubFX
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August 15, 2014, 10:02:54 AM
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That's really big fee you've paid. Use localbitcoins or any exchange next time this isn't acceptable price even for "Premium" service.
BitcoinHeroes
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August 15, 2014, 10:13:06 AM
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Now, secure your wallet before you lost it Smiley... also good luck on the investment..
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August 15, 2014, 11:01:18 AM
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Welcome to the entrance of the rabbit hole.  Wink
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August 15, 2014, 11:20:47 AM
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Welcome in the bitcoin world make sure to secure your Wallet.

B1tc01n5
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August 15, 2014, 11:24:56 AM
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Bitstamp seems like the best one.
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August 15, 2014, 11:32:33 AM
 #17

I recommend BTC-e.com simply because they are easy to use and decently reliable.

DubFX
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August 15, 2014, 12:19:48 PM
 #18

I recommend BTC-e.com simply because they are easy to use and decently reliable.
And if i'm right then they require no ID so you can stay theoreticaly anonymous.
Davinus
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August 15, 2014, 12:24:17 PM
 #19

I recommend BTC-e.com simply because they are easy to use and decently reliable.
And if i'm right then they require no ID so you can stay theoreticaly anonymous.

They're asking ID veritication for wire transfer transaction

Quote
Identity verification
 Required in case you choose to load your account by wire transfer.To comply with AML/CTF recommendations, we require our clients to verify identity by providing scanned copy of ID and scanned copy of utility bill or a bank statement which should not be older then 6 month. Copy should be in good resolution and colored.


https://btc-e.com/page/1
DubFX
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August 15, 2014, 12:25:50 PM
 #20

I recommend BTC-e.com simply because they are easy to use and decently reliable.
And if i'm right then they require no ID so you can stay theoreticaly anonymous.

They're asking ID veritication for wire transfer transaction

Quote
Identity verification
 Required in case you choose to load your account by wire transfer.To comply with AML/CTF recommendations, we require our clients to verify identity by providing scanned copy of ID and scanned copy of utility bill or a bank statement which should not be older then 6 month. Copy should be in good resolution and colored.


https://btc-e.com/page/1
Hmm...they didn't just few weeks/months ago. Did they?
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