I've been out of the crypto game for a while and given MAGA is about to come to power want to relook into this. Which exchanges do our community use?
I looked at Binance and Coinspot which is what I used to use and the fees are very steep for both :(, around 7% a transaction at the deposit amount I want to do (compared to true value on coinbase).
There must be a better way to do this. Plz help
Bitcoin going to a million per coin so it doesn't matter
The superior technology! Where else will you get such low fees of 7%? People don't complain about the Visa/Amex fees at all, so why not pay a little more?
And you no longer need to worry if you accidentally pay the wrong person. It's definitely gone, you no longer need to stress about potentially getting it back!
And you don't even need to worry if the store you want to buy something from will accept it. Most won't! Another stressor gone.
Truly a great technology, easily worth more than a million a coin really with how useful and efficient it is.
Maybe, just maybe you are missing something.
But hey ignorance is bliss.
Binance is more like 0.1% if you don't do big trades.
I thought Australia can’t trade on Binance?
Btcmarket if you want to buy mainstream coins. Binance for the memes
Cointree? Australian-based exchange.
Coinstash is very good (AU-based). Low fees, decent spread, easy app. (Disclaimer: I used to use Digital Surge and CS is better value, not to mention DS went bankrupt in the FTX scandal)
Swyftx
btcmarkets.net - Australian exchange. Not that I buy and sell a lot… mostly for HODLing. Kinda hoping that XRP goes up over the AU$4 mark again soon so I can dump the rest of my XRP. I bought it all at about $0.30 and it tanked to $0.10… so I forgot about it for ages.
Kinda hoping that XRP goes up over the AU$4 mark again soon so I can dump the rest of my XRP. I bought it all at about $0.30 and it tanked to $0.10… so I forgot about it for ages.
Why $4? If you bought at $0.30, it's $3.71 now so that'd be a 1136% gain, less fees, CGT, etc.
Maybe if he would prefer to have $40,000,000 instead of $37,100,000.
around 7% a transaction at the deposit amount I want to do
Just out of interest, where are you seeing 7% fee for deposits?
https://www.binance.com/en/fee/cryptoFee
https://www.coinspot.com.au/fees
I took the BTC quote they give me (so the FX loss equivalent, put it to coinmarket, and showed the best case scenario pre fees already had a ~5% loss). Then 2% fees on top of that.
In that case, you may be better buying a USD stablecoin like USDC/USDT instead. Liquidity on Australian exchanges will be very poor, which will mean wider spreads for market makers to earn a profit.
AUD to usdc/t will be much easier to arbitrage against regular Forex markets and keep the spreads thin.
Then you can just swap your usdt for Bitcoin or whatever, and fees on that massive market will be sub 0.1%
Amsterdam Tulip Exchange.
7% or 0.7%?
Huge difference.
7
Kraken
*Pro
FTFY
Are people not using Coinspot or whatever the other one was called anymore?
CoinSpot and Swyftx are essentially brokers vs being an exchange. Their fees may look somewhat attractive at first, but you just wait until they hit you with the spreads when it comes time to sell! You're gonna feel the burn then. From CoinSpot especially.
But, if it to comes down to choosing between the two, you'll find a more advanced and usable interface with Swyftx.
What’s a better exchange to buy it on?
I can't comment on other exchanges yet, sorry - I'm looking to move away from them myself. Either Kraken Pro or OKX… or both.
Bitget. Depends on what you want to do. Are you wanting to hold/buy/sell spot or leverage trade?
Do people keep their crypto in the exchange, or store it locally? What methods are best to use?
You sure better believe it.
Maga is coming, and all the leftards are crying hard.
Excuse my ignorance, what about maga coming in do you think will happen to the crypto market? Any coins worth noting?
Trump is very crypto friendly.
Notice how crypto and the stock markets have all been booming since Trump won.
I looked into this for the Australian exchanges a few months ago. The cheapest fees I could find were for Coinjar (for their exchange, not instant buy/sell). Coinspot is also good, as long as you use market orders, not limit orders. The highest fees were for BTC Markets.
wow