choosing a CC Exchange

bowlhead99

planteria wrote: »

are you having problems with Bitstamp now bowlhead?

I haven't wanted to do any transactions since the last sale I did on 1 Dec. I made a withdrawal request on 4 Dec which I was hoping would arrive on 5 Dec but didn't arrive until 6th.

*update
Having just logged in, I only have about $908 of value in my online wallet with them and am not particuarly worried about it. I just sold 0.005 BTC just for fun, no issues. The issues they mentioned on their update a couple of weeks ago were to do with delays on account opening, deposits, withdrawals.

I see coinbase still have their banner on their help page advertising the 'partially degraded service' with outgoing wires taking 7-10 business days. Bitstamp probably isn't any worse than that, but I haven't had cause to try recently.

pavane

Bitstamp is cheaper for a reason. If you will deal in BTC go with Coinbase. if you need some exotic currency or want to test or learn about some aspect of block chain then give more details on your requirements and priorities.

planteria

and what is the reason pavane?

I have tried to set up an account with Bitstamp, which is in process..

I have tried to set one up with Kraken too, which crashes out repeatedly.

peever168

I personally use coinfloor.co.uk who offer deposits and trading in gbp. I have done 2 deposits and 2 withdrawals so far and they have been received within 2 working days. Their bank is in Poland however. Once I have btc I transfer it to https://www.binance.com/ where you can buy pretty much any altcoin you can think of, they are just about the biggest Exchange now in terms of daily trading volume with 3 million users. http://www.cryptopromocodes.com have a good breakdown of many altcoins and where you can buy them

planteria

interesting peever.. so is that option as cost effective as using Bitstamp, for example?

Coinbase seems to be easily accessible, but also highly priced. we're not bothered about having an app, for example..

planteria

is anyone here using Kraken?

and if so, are they managing to fund from a £ Debit Card?

YellowStarling

I use a Revolut EUR account to deposit in Coinbase, head over to its sister site GDAX to use EUR to purchase Bitcoin BTC using limit trades rather than market purchases (to save on fees). Then cycle the BTC from GDAX through accounts with Kraken and Binance to exchange for smaller CCs like Stellar. Then onto a Ledger Nano S for cold storage.


Kraken and Binance I was verified same day, Coinbase took a day and a further 2 two days for the original deposit from Revolut but instant after that. So far, so good but probably one of the luckier ones.

fun4everyone

https://www.youtube.com/watch?v=KTf5j9LDObk

planteria

mmm.. i'm not sure whether you are 'for' or 'against'.

ivormonee

Well I know nothing about cryptocurrencies but decided I want to buy some/ a bit of it/ them. So I've spent quite a lot of time reading the threads on here and researching other sources of info. online today but am not really any the wiser. I then searched for sites to buy but stumbled as I couldn't understand the process.

Some of the problems I seemed to encounter were: complexity, as there seemed to be far too many ways of buying (something about needing a wallet but then also needing a broker and/ or exchange and/ or a P2P platform for the transaction) - it's probably not that difficult but it just didn't make sense to me; costs/ fees/ charges/ spreads - I had a "quote" to buy £1,000 worth of bitcoin(s) but there was a charge, a mining fee and a transaction fee (totalling around £200 so I'd only get around £800 of coins for my £1,000); one platform wasn't accepting orders; etc.

Basically a few hours of research and trying to actually buy some cryptocurrency proved futile. I must have missed/ misunderstood parts of the process. Have others had a similar experience? And if so, how was this overcome (or not)?