Hi all. I was crypto-skeptic for a long time, but after I learned the question and wanted to buy BTC for future, maybe it will work when I will retire.
So I realized that there are two main ways, exchangers and exchanges.
With exchangers everything is simple and understandable, confused some points:
1.Horse fees (although not for sure).
- Somewhere read that they can sell crypto “of dubious origin” and there may be problems in the future.
1.It is necessary to pass KYC. It turns out that a copy of my passport may turn up at some point. Or in the distant, bright future, the state will know that I have crypto.
2.Commission. If you put money into the exchange, they take a commission. Then you need to buy usdt, which also sells at an inflated rate (27.7 usdt 28.50 for hryvnia in the bank now). When buying crypto at the site, also the commission.
One more thing, if I have USD cache, I thought that I could get a USD card, I would put it there and buy, but I see that there is a very small selection of exchangers in UAH, in hryvnia I have much more, if I change it to national currency, I loose money on conversion.
- About commission – you have not seen the commission for entry and withdrawal of fiat currency to the exchanges! I bought it at one time. Exchanges had favorable rates, but while you bring and withdraw, you will pay a HUNDRED of money which makes exchangers look like saints! But here I am personally bought lately through Localbitcoins. Although there is a risk… But if you buy in small portions, the risk is small. (But still more than when buying through exchangers).
- This is the first time I’ve heard this. It seems that it is 99.9999% wrong.
- Where-is-what. I’m much more stressed by the fact that many exchangers freeze the transaction for 48 hours when you buy. And you have to wait hard. But there is no such thing when selling. There all fast.
4 None of my advice to mess with exchangers. This is a real hassle. In order to understand how it all works – you might spend several years. And during this time you will lose a lot of money. In addition, the exchange may fail. I had two exchangers, where I kept the funds. Some exchanges I went up, some I lost… If you get completely bored, put there 10-15% of funds, already crypto, bought through exchangers. And see what happens.