- This topic has 3 replies, 1 voice, and was last updated 3 months, 1 week ago by uncontrollableop.
- Saturday, August 20th, 2022 at 18:28 #358511Upset-Comfortable-72Participant
I am a beginner here, so would like to know whats the brokerage with the lowest purchase fees for BTC ? I plan to buy around $10k of bitcoin and will then transfer them to my wallet ( any advice on the best hardware wallet also would be great such as ledger, etc ).Saturday, August 20th, 2022 at 18:32 #358512The_Fixer_69
What country are you in?Saturday, August 20th, 2022 at 18:36 #358514uncontrollableop
lowest fees are not the way to get the cheapest bitcoin. especially if you are buying more than a few thousand worth. you want to use a top exchange with lots of liquidity and trading volume. the fees are competitive and transparent. these low fee or no fee competitors just have hidden fees, and you don’t get to choose the bitcoin price you want. that’s how they hide the fee–by simply setting their bitcoin price offer higher than the real market rates you get at a highly liquid exchange.
the fact that bitcoin’s price fluctuates significantly on a daily, even hourly basis, means you can choose the price you want lower than the current market price, and you will likely get the price you want as long as you are willing to wait for your limit order to get filled.
so if you are in the usa, then choose from the top 3 or 4 exchanges, which means coinbase pro (not coinbase), gemini, kraken, itbit. you will pay the wire transfer fee at your bank, and you will pay a small deposit fee at the exchange. then the trading fee which should be around 4/10ths of a percent. then you just have to pay the withdrawal fee. so check out their fee pages for each of these 3 types of fees i just mentioned, and you can compare.
if you don’t care about trying to get the absolute best price, or don’t have the patience to learn how to use a real exchange with limit orders, then just choose one of these crappy low fee or free fee options that others will no doubt recommend here.Saturday, August 20th, 2022 at 19:08 #358513suidoc
Where are you from? I live in Europe, so we don’t have the exact same options as US.
I have found that Pocket Bitcoin has by far the greatest setup I’ve seen so far. You can use any wallet. You set up a wallet, generate an address and set up an order at Pocket Bitcoin.
You then make a bank transfer using the details they provided you, and you can even set up recurrent transfers on the same order and they will ship the Bitcoin to the address you provided.
They also only charge 1.5% fee and there is no spread in the price they offer from what I have experienced.
Only downside is that you have to wait a day or two for the bank transfer to complete.
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