Bitcoin - where to buy?

HarryGray

theforest said:

HarryGray said:

Does anyone have any other recommendations on a better platform?

I made my initial purchase on Cryptomate using Faster Payments from my bank account and used that BTC to fund subsequent larger purchases on the Bisq decentralised exchange network, also using Faster Payments.

Another possibility I discovered recently similar to Cryptomate is Coingate, though I have no experience of using that one.
As regards wallets Exodus (.io) is one of my favoured wallets (it looks nice too) though there are plenty of others.

I hope that information is of some help to you, but whatever it is important do your own research for your own needs.
(As I am new to the forum I cannot post any URLs yet, but I am sure if you search the internet for the highlighted words you will find the links).

Thank you!

Malthusian

Retireby40 said:

If it was so clear cut why would anybody ever sell bitcoin. If something bounces from £1 to 7k to 12k to 3k to 24k someone must be selling. 

Someone must be buying as well. But if something is bouncing upwards it means more people want to buy than sell.

Anybody can sell Bitcoin at a higher price if there's a willing buyer. It only takes one trade to change the market price. If everybody tries to sell at £24k after buying at £3k, the laws of physics take over.

I agree if you invested 200 quid it wouldn't be worth taking out but anyone who say stuck 10k in when shares were 3/4k who now is sitting on 75-80k. Depending on where you live that could be an upgrade from a 3 bed semi to a 4 bed detached. Could be the money needed to start up a new business. Especially with something so volatile as crypo.

People who buy Bitcoin / crypto don't have 3 bed semis. Nor do they start businesses. As per FCA research they mostly have zero or negative net assets and are looking for a "shortcut" to get rich quick.

£80k will buy them a nice car but won't do much else, and within a decade or so the car will be a banger and they'll be back where they started. This was the typical experience of net winners during the previous pump.

We all have seen it crash as quickly as it has risen in the past. Who's to say that 24k isn't 10k again in a month or two? 

Perfectly possible, no argument there.

Michael121

Malthusian said:

 As per FCA research 

That report is hardly evidence of who owns what BTC. 

Mat0987654

HarryGray said:

Hi all,

I know people have their differing views on Bitcoin but I’ve decided it’s time I put 2% of my allocation into cryptocurrency. 

I’m trying to find a website to purchase on - Coinbase charge £20 per £500 invested (4%) which seems extortionate. Does anyone have any other recommendations on a better platform?

You could try buying in etoro and then transferring it into the etorro wallet (from where you can send it to any other wallet). My understanding from the fees page is its a flat rate to move the cypto from the etoro platform into an etoro wallet (cant post the link, but google etoro wallet fees).

I have some BTC in etoro and in a wallet bought through coinbase (a few £100 only). You'll pay the spread for buying through etoro, might work out less than what coinbase is charging 

Malthusian

Michael121 said:

That report is hardly evidence of who owns what BTC. 

The report is based on robust evidence derived from numerous in-depth interviews with Bitcoin hodlers. If you have sound evidence that shows the FCA's methodology to be flawed I'm all ears.

Michael121

I stopped reading when it said the report was based on 31 crypto punters

planteria

Michael121 said: I stopped reading when it said the report was based on 31 crypto punters

haha does it really? better just to ignore it & proceed on the basis that Malthusian's summary is nothing like my experience.

typeractive

HarryGray said:

Hi all,

I know people have their differing views on Bitcoin but I’ve decided it’s time I put 2% of my allocation into cryptocurrency. 

I’m trying to find a website to purchase on - Coinbase charge £20 per £500 invested (4%) which seems extortionate. Does anyone have any other recommendations on a better platform?

HarryGray and everyone else  
I'm in a very similar position. I've been sitting on buying since last April but Covid and personal circumstances made me more wary. I'm looking to purchase in the very same way as you are/did. I'd originally been looking at Binance. The website states 0 fee from using a bank deposit, but this sounds too good to be true. Wondered if you or anyone else had looked into them.
I'm also looking to PCA - just a small amount. If it goes up or down then I'll just ride the storm with it, but as tight as it sounds (well money saving!) I don't want to pay more than necessary to deposit and withdraw my money.
Very interested to hear other people's thoughts on where to buy. 
Thanks  

Qubit

As mentioned elsewhere -  BISQ, a decentralised exchange.  But you will actually pay a higher premium most likely, unless you create your own bid and wait for it to be filled (perhaps harder in current market conditions).    Reason for the premium?  No KYC.  Otherwise might as well just use Coinbase, Bin ance, Kraken.   Also, very importantly:
Don't leave your Bitcoin on any exchange!   Not your keys, not your Bitcoin!

forestlands

Now into October, read your comments, thank you, wondering where we stand now with buying Bitcoins!  I visited websites, as far as I could see a Bitcoin costs £47.000.00!  Am I right?  Was thinking what about the change if you used a Bitcoin to buy anything! Hope your still getting notice of comments!  Take care!