Bitcoin - how best to buy

thenap80

I signed up to Coinbase back in 2015 but never invested, much to my detriment!? Since then, I’m seeing other avenues to exchange my money to bitcoin, particularly via my online banking app. But what’s the best way? Through a bank or through coinbase!? Or is there little difference!?

la531983

Assume the bank in question is Revolut.

Little difference tbh other than both would have different buy fees.

pecunianonolet

thenap80 said:

I signed up to Coinbase back in 2015 but never invested, much to my detriment!? Since then, I’m seeing other avenues to exchange my money to bitcoin, particularly via my online banking app. But what’s the best way? Through a bank or through coinbase!? Or is there little difference!?

Sounds like FOMO to me now the prices are rising. Wait until the bull run is over and prices correct downwards. Coinbase has very high fees, perhaps look into Binance as an option and their fees should be cheaper too. 

RichTips

I have found Kraken to be a reputable exchange. It's US-based and has a history going back even further than Coinbase. I believe it also generally beats Coinbase on fees. As for differences, the fees, number of assets supported and ease of withdrawal are the key differences, with established crypto exchanges likely to charge lower fees and grant greater freedom to withdraw a wider array of assets than bank and other non-crypto specilised institutions.
I wouldn't recommend buying just because of the greater publicity Bitcoin (and to a limited extent other crypto) is getting recently. Perhaps consider what stopped you buying in 2015 and whether those factors have diminished, but definately do some research on the current state of the asset class prior to throwing money at it.

jefaz07

I use Kraken, it has the lowest fees. I did use Binance but they had issues with withdrawals to UK bank accounts so left them. 

It’s very volatile at the moment, I’ve had £600 drops in 2 hours, this happened yesterday. 

Overall it’s going nicely for me, but I have been here for years and used to trade, now I just hold and will decide when to sell. 

Scottex99

Not much difference other than fees, most are probably in the 0.5 - 2% bracket.

Revolut used to be CFD only but now support some the chains directly. Meaning you can buy there and stick it in a hardware wallet.

i like Swissborg, been using it for years