“Finder App” for Investing in Bitcoin?

novicenow on 05/06/2021 - 14:25

Hello everyone, apologies if this is a stupid question. 😅

I’m brand new to crypto and was trying to make head and tail of it all.

I was reading posts here and also generally researching crypto exchanges with low fees since I don’t have much to invest ($100 or so). I stumbled on the Finder app (https://www.finder.com.au/cryptocurrency/exchanges?futm_medi…) which seems to have 0 fees for deposits, withdrawals, and trading.

What does this mean? Is it free to buy let’s say deposit $100, buy $100 worth of Bitcoin, and see and withdraw without any fees?

Any other suggestions? I’ve read about Binance.

Thanks 😊

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Comments

  • nahkk on 05/06/2021 - 14:41
    +1

    If they are not charging trading fees, they may be earning from spread. i.e. the BTC/ETH price might be a little expensive than other exchanges. Check their buy/sell prices with Binance or Coinspot

    • novicenow on 05/06/2021 - 15:09

      Oh thank you for that tip. I’ll do the comparison.

  • rektrading on 05/06/2021 - 16:24

    BTC.D is at 42% and declining. This means the Alts are at the moment outperforming BTC. Getting a position in the big caps would be a better option.

    • novicenow on 05/06/2021 - 16:58

      Could you share some specifics regarding the “big caps” or where I can learn more? My head is swirling with all the new terms and thingeys… there’s soo much info out there it’s hard to know where to begin and where to go. 😳

      • tikei on 05/06/2021 - 20:02
        +1

        If you want it to be more safe, go for the more established big players (those with big market caps like btc and eth).

        But if you're willing to take risks and possibly make 100x in return you would be looking at the small cap coins as they potentially have a lot of room to grow.
        Most are shitcoins and fail though so beware.

        • novicenow on 06/06/2021 - 18:04

          Thank you for that explanation :)

  • Cave Fire on 05/06/2021 - 19:31
    +1

    I would say go to Coinmarketcap, the click on Cryptocurrencies. This is a good "leaderboard"/summary of the whole market. Maybe read or watch "Crypto basics" videos on Youtube? Think you will have minimal fees factored into your spreads, but one thing to check is gas fees. If you decided to send your BTC to another exchange (eg, Finder app to Binance) there are gas fees on top of your exchange/app fees. These are around $2 at the moment, but could change if activity picks up. There are also some lessons here for about $40 free crypto with Coinbase: https://www.ozbargain.com.au/node/621699 You do need to complete an ID verification to qualify.

    • novicenow on 06/06/2021 - 18:05

      Thanks so much for these tips - I’ll take a look.

  • Monkboo82 on 05/06/2021 - 20:07
    +2

    Use the Binance exchange. Highly recommend this exchange.

    My top 5 are
    BNB
    ETH
    BTC
    ADA
    XLM

    • novicenow on 06/06/2021 - 18:05

      Thank you for your suggestion!

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