Buying bitcoins

soirish wrote:

Curious why would one use a card. The 3.99% commission would eat up a lot of your profit, besides SEPA deposits are free.

Time

benjamin d wrote: »

When a cryptocurrency might jump 50% in the space of a few hours and then stagnate or slip back over the course of several days losing 4% on commission is nothing compared to missing out by having to wait for a SEPA.

That's FOMO (fear of missing out)

soirish wrote: »

That's FOMO (fear of missing out)

It's why it makes sense to pay instantly and absorb the extra charge. Increases happen quickly in crypto and come in sharply defined bursts. I feel like you're deliberately not understanding this.

soirish wrote: »

That's FOMO (fear of missing out)

No, it's not. I've seen announcements or pieces of news and correctly predicted a price increase of 10%+ coming within the next hour. It's worth the 4% hit to take a 6%+ profit.

Kenny Logins wrote: »

5.6%

Where exactly did you get these tips?

Reddit, Twitter, it depends. It's not necessarily tips, when a coin unexpectedly announces a big feature update you can almost be sure there will be a big price increase. The easiest and most recent example that comes to mind is the bitcoin fork cancellation. If you saw that notification early and got in you would have made a 50% profit in the time it takes to do a SEPA transfer making the 4% fee when buying with a card irrelevant.

marcus001 wrote: »

You're not missing out on anything by waiting 5 days unless you're trying to trade an event, in which case you ought to have your money already in an exchange.

Anyone who is absorbing 4% transaction fees unnecessarily and thinks nothing of it is an utter gob****e when it comes to investing and should learn that one of the most fundamental lessons in investments is to avoid fees. If you don't understand why that's important then don't think of calling yourself an investor.

Stop with this preachy nonsense. There are a ton of reasons why buying with a card is worth it over pissing about with SEPA transfers. I've seen people missing out on 3-4k because they were worried about paying €300 in fees. I've also seen people lose everything because they left money on an exchange when exchanges get hacked or close up shop.

Wanting the speed and security of using your debit card is something people are willing to pay a premium for. It doesn't make them gob****es.

Pussyhands wrote: »

Bitcoin below 13k euro now..I'm gonna hold anyways

(Rushes off to coinabse)
Oh 13k in Euros, was getting worried there.

Pussyhands wrote: »

I bought in at the ATH, it's killing me..

Its tough, especially with bitcoin stopping and starting but if you can wait it out its surely going to rise.

GarIT wrote:

Reddit, Twitter, it depends. It's not necessarily tips, when a coin unexpectedly announces a big feature update you can almost be sure there will be a big price increase. The easiest and most recent example that comes to mind is the bitcoin fork cancellation. If you saw that notification early and got in you would have made a 50% profit in the time it takes to do a SEPA transfer making the 4% fee when buying with a card irrelevant.

This is exactly what FOMO is...

Grumpypants wrote: »

Wanting the speed and security of using your debit card is something people are willing to pay a premium for.

Can I throw out a little modus operandi to get around the delay issues surrounding SEPA and the fee problem when using debit cards etc? This workaround may not suit everybody, but it works for me.

1) Buy some Ether. This is your long-term stake. (And ETH has shown an organic price increase since it's creation making you a secondary profit also).
2) Immediately transfer the ETH to your Nano, Trezor.
3) Whenever you spot a good buy opportunity, shift the required amount of ETH from your Trezor to the exchange. The tx fee for Eth is low, the transfer times are fast-ish. Most all exchanges now accept Eth deposits, it is now a gateway coin like Bitcoin, and most exchanges have ETH/XXXcoin pairings.

The advantages are fast tx's, low fees, and no mucking about with banks. (You should, of course, have opened as many accounts across all exchanges as possible to allow you to buy or sell at the best prevailing price, and to hop aboard any particular coin that starts an upward move.)

Pussyhands wrote: »

I bought in at the ATH, it's killing me..

The swings in theses market are ridiculous. If you aren't prepared for that then I would get out. This kind of fluctuation is in BTC is relatively small and very normal.

How do i get money into poloniex? Csnt see an option to fund the acount from my bank.
Do i need to send funds via a coin transfer?
So send case to say coinbase buy a coin type and the transfer thst coin to poloniex where it can then be used to buy whatever coin?
Sounds awkward and posibly costly with having more transactions all costing.
Any easy way im missing?

studdlymurphy wrote: »

How do i get money into poloniex? Csnt see an option to fund the acount from my bank.
Do i need to send funds via a coin transfer?
So send case to say coinbase buy a coin type and the transfer thst coin to poloniex where it can then be used to buy whatever coin?
Sounds awkward and posibly costly with having more transactions all costing.
Any easy way im missing?

No thats basically it. Buy Bitcoin Or Ethereum on coinbase and transfer to poloniex

soirish wrote: »

Did anyone manage to register and start trading on one of the Korean exchanges like Bithumb? They have some restrictions for non residents but the premium on most coins is so high it might be worth it to fly over there.

Surely its all relative to where you eventually cash it out. Unless you have a Korean bank account you will have to transfer your coins back to a European wallet