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Buying Bitcoin / Ether

36 29 November 19, 2017 at 12:43 PM in Finance
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Last Edited by krc369 November 19, 2017 at 12:43 PM
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Can someone please recommend the best site to buy/sell Bitcoin / Ether. I opened a Coinbase account and it will take a week transfering money from my BOA account.

Also, the transaction fees seem to be high.

Any / all advice is welcome.

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#2
Coinbase is your best bet for beginners.
There's also Gemini and Kraken, also takes time to transfer money.

Buying ethereum has better reward - risk compare to BTC at the moment. just my 2cents.
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#3
Once you join coinbase you can join Dax and transfer your funds into it. It allows limit orders.
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#4
Quote from jcrash
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Once you join coinbase you can join Dax and transfer your funds into it. It allows limit orders.
Gdax* . Gdax has no fees if you are a maker. Maker is if you place limits (bids).
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#5
GDAX only supports ETH, LTC, and BTC. Are there other exchanges compatible with USD but support additional currencies? I remember hearing some exchanges don't work with US dollars.
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Quote from sprintuser
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GDAX only supports ETH, LTC, and BTC. Are there other exchanges compatible with USD but support additional currencies? I remember hearing some exchanges don't work with US dollars.
I signed up for Poloniex and sent some bitcoin from coinbase to it. From there, you can buy things like bitcoin cash, monero, dash, and others.
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#8
Quote from sprintuser
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GDAX only supports ETH, LTC, and BTC. Are there other exchanges compatible with USD but support additional currencies? I remember hearing some exchanges don't work with US dollars.
bittrex.com
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#9
If you bought some ETH as suggested, you should be a happy man right now. I don't think we're done either. $500-$600 before this train turns around imho. TA has it going to $600, but human psychology may see cause a large dump at $500.
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#10
If you deposit cash on coinbase first you can transfer it to GDAX (part of coinbase), and place orders from GDAX. You can buy without any fees that way.
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#11
Quote from ManUpOrShutUp
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If you bought some ETH as suggested, you should be a happy man right now. I don't think we're done either. $500-$600 before this train turns around imho. TA has it going to $600, but human psychology may see cause a large dump at $500.
funny how i made that recommendation but i didn't buy any myself. been a busy month haha. GG to those that got in on this trade.
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#12
Quote from alexatie
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funny how i made that recommendation but i didn't buy any myself. been a busy month haha. GG to those that got in on this trade.
I do that s**t all the time. For me though, it's just an innate worry that I'm going to blow my entire investment somehow. For all the technical traders though, fundamentals are where it's at. Buy based on solid fundamentals and hold and it's hard to go wrong.
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#13
no experience at at all with bitcoin but intrigued.

say i buy 5 bitcoins tomorrow. then next week the price of the coin doubles and i want to sell.

is it easy to sell them and how fast would i get my money? are there fees or penalties for selling said coins?
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Our community has rated this post as helpful. If you agree, why not rep ManUpOrShutUp?
#14
Quote from Switching2Geico
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no experience at at all with bitcoin but intrigued.

say i buy 5 bitcoins tomorrow. then next week the price of the coin doubles and i want to sell.

is it easy to sell them and how fast would i get my money? are there fees or penalties for selling said coins?
The easiest way in the US is Coinbase/GDAX, which are the same company. Coinbase is a wallet and essentially a retail portal for BTC/LTC/ETH. GDAX is their exchange. At GDAX you can enter a bid to buy if the price drops to X and will only pay fees on orders that are not post-only (market maker) [nasdaqtrader.com]. At Coinbase you will always pay market price + fees. Selling is the same. Fees are 0.003% for market takers ($150 on $10K for example). Again, market maker orders carry no fees.

If you want you want to buy $50K worth of BTC, the only way to do that quickly (due to buy limits on credit cards/ACH transfers) wiring the money is the best way. You can wire to Coinbase and then transfer to GDAX for free if you prefer to skip the fees for buying/selling. If you initiate a wire transfer tomorrow morning it will be in your Coinbase acc't by close of business (depending on your bank's policies). Coinbase is FDIC insured up to $250K. Now when you want to sell you can either sell at GDAX at market or set an order to set when price reaches X. At Coinbase the sale will be executed at market. In either case you receive the USD in your account immediately. You can withdraw any time you wish via ACH, but there are limits (different for everyone, $10-15K is the usual). You can have it wired to your bank instead if you wish to just withdraw it all at once. There are fees for wire transfers listed on their site. I think it was $10-20 last time I wired money.
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Last edited by ManUpOrShutUp November 29, 2017 at 01:04 AM.
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#15
I use GDax/Coinbase and Bittrex combo.
Tried Kraken and was complicated and takes too long to get verified.

I trade Bitcoin/Lite/Eth on GDax and Altcoin on Bittrex.
Also using Coinbase to transfer money between accounts.

Bittrex don't have way to deposit or withdraw USD.
I could be wrong but can't find way to take it out as USD so I transfer to coinbase to withdraw USD.

I read Coinbase got hit by IRS to give up names for those with $20k+ transaction.
Anybody have better reliable broker?
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