Quote from: adaora2323 on November 06, 2019, 04:32:28 AM

Quote from: Mttewndew on November 05, 2019, 02:12:57 PM

Trying to understand how the fee system works and why exchanging from fiat is much more expensive than exchanging crypto.

Ok, cryptocurrency exchange fees are usually very low because it costs little to nothing in fees to exchange them, unlike fiat itself. Banks charge a commission for everything, and there are many regulations and financial bodues to contend with who would ultimately want their own piece of the cake.

That might explain why there's a 0.25% fee when you exchange crypto on changelly, for example, and 7% fees when you want to exchange from fiat.
But at the same time, there are services with a much lower fee. BUT lower payment doesn't guarantee good quality service. And this is where I want to hear your opinion

Question #1 - how often do you buy crypto with fiat?
Question #2 - how do you choose the platform? Are there any other criterions than the amount of fee? Security, speed of transaction, simplicity, friendly service?
Aren't you afraid that your personal data may be stolen or sell somehow?

Exchanging Crypto to fiat on most exchanges can be expensive and sometimes it takes an experienced user to exchange Crypto to fiat and vice versa.

For your question #1, I buy Crypto with fiat almost every day because I don't trust the telegram escrow groups I always prefer to my my Crypto with fiat to avoid stories with my funds.

For your #2, what I decide before choosing the exchange is the security of the exchange, I have been using Changelly for sometimes now. The services have been top-notch. Another thing I consider is the fee, speed and UI. When it comes to those, I think Atomic Wallet gives the best. So what I do now is, I use my card on the Atomic wallet to buy whatever Crypto I want to buy. The transaction is fast enough, and the transaction % is very minimal compared to others that I have used. The Atomic wallet is secured and trust me, your funds are guaranteed and safe.

This can be expensive if you are directly buying bitcoin to exchanges due to fees/charges.
If there is some financial services like in our country, you can buy bitcoin anytime. No exchanges fee needed to pay, and we can directly buy bitcoin, eth, xrp and even bch using fiat currency.
If there will be no such thing in your country, it's better to buy in exchanges and pay fees than to risk your money buying in telegram channel, even using escorw, if it was me, I won't risk my money.