Post
Topic
Board Hardware
Re: [Work in progess] Burnins Avalon Chip to mining board service
by
jlsminingcorp
on 25/07/2013, 20:41:36 UTC
Where has one to pay 5%? oO I only know this from localbitcoins because work is involved to get fiat in hands. For example using bitstamp is 0.5% fee only. Thats pretty normal for exchanges. The bitcoin price is low there too because many cash bitcoins out there. They have a fast and working cashout, not like mtgox. So you could buy bitcoins for a lower price there. In fact for the normal price that bitinstant is using too.

Bitpay exchange rate is more normal than the one at mtgox. Check out bitcoincharts to see the average price. I believe mtgox price is higher because they have so much problems with paying out cash. It takes weeks and months to get your money to your bank account. So no one is selling at mtgox and the price is higher than normal.

It takes fucking forever to get btc with USD on exchanges

Why? I normally send euro and it reaches very fast. I wonder why it shouldnt work for usd. I mean bitstamp IS even in USD only.


Hi SebastianJu, I'm not sure about how others get their BTC, but I've not been able to find a cheap way to buy them from the UK yet - maybe others have suggestions (via CurrencyFair??, this seems as though it would be slow though). I've had good experiences with bitstamp and their fees are quite reasonable, but we get ripped off by UK banks for the SEPA transfers and GBP-EUR exchange required to get funds to bitstamp. UK banks seem to have some special arrangement that enables them to ignore European agreements on SEPA transfers and so they charge large fees for this (mine charges a flat fee for each transfer that means only reasonably sizeable transfers make sense, otherwise the % charge may be several %). If you add on top of that the poor GBP-EUR exchange rates that the banks offer then it can easily cost 5% or more to buy BTC. Unfortunately very little of that goes to BTC-friendly causes, most goes straight to the bank Angry. It actually makes me quite angry that our banks can "opt-out" of the SEPA, but this is probably not the place for me to rant about this Grin.