Comparison of fees charged by different exchanges to buy Cryptocurrency
I have bought cryptocurrency from fiat (traditional currency) using different exchange services and my goal was to find most economical and easy way to buy Crpytocurrency.
I am still nowhere near to my goal because i am not able to buy at market price but still am gonna share my findings so others can do some analysis before buy or sell from following exchange services
As everyone knows Bitcoin and Ethereum have become gateway to other Altcoins, so i'll be using there two as references and i want to focus only those resources from which you can buy instantly via Credit/Debit card.
1- Coinbase
This is a very renowned exchange for trading but i think its a major drawback that it is only for USA, Canada, Europe, Singapore and UK. Yes they charge 3.75% which is close to market price but this service is not available for all internationals users.
2- Changelly
It is one of most easiest exchange service from fiat to cryptoccurrency and they claim to offer best market prices. So if i buy Bitcoin or Ethereum from here by spending 100$ then i would get 86$ worth of Bitcoin and 74$ worth of Ethereum. That's somewhat 14-26% increased price. So all that glitters is not Gold
3- CEX
This is another exchange to instantly buy via Credit/Debit card. If i apply same example as above then i would get 91$ worth of Bitcoin and 92$ worth of Ethereum. That's 8-9% increase from market price.
4- LocalBitcoins
This is a very different kind of exchange service where you can deal with local dealers. I found that there is at least 13% increase in price if you buy Bitcoin from here
5- CoinMama
So far this is the only exchange which is giving me lowest price to buy. I would get 94$ of Bitcoin and 95$ worth of Ethereum considering above mentioned example. That's 5-6% increase.
I have not currently explored option of buying crpyto via Paypal on VirWoX. Will look into that and share my findings in future.
Note: All the prices mentioned above were considered at posting date of this post.
I used wallofcoins.com, liberty x and mycelium trader. Mycelium was the cheapest at 5 $ over market price. Liberty x was 3.5% over market price and wallofcoins was the most expensive between 5% to 15%. These are all with cash not credit cards
This info is really valuable. Thank you so much for sharing this, much appreciated
https://steemit.com/bitcoin/@spiftheninja/alert-segwit2x-is-controlled-by-the-banksters-the-plot-thickens-look-at-this-evidence
This post has received a 37.10 % upvote from @booster thanks to: @bluemist.
This really is useful information. Thank you. It's the one frustrating thing about crypto - that you have to buy it from someone who, of course, wants to take a cut.
I agree but i think solutions are coming soon. Thank you so much for the feedback
Thanks for your good work! Upvoted and resteemed!
You are always welcome and thanks , much appreciated
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Thanks @bluemist fo the info! I have used VirWox but it's like 20%-30% in fees so...... but I think is a good option if you want to exchange BTC to Paypal
Thank you so much for sharing that information, really appreciated
Really very useful information. I really appreciates this your post. It will provide comparison of fees charged by different exchanges.
Thanks man!! Maybe you can make a comparison table in your next post to have a nice overview :) I would also love to see comparisons from you in other topics as spread, delay, safety,...
You are always welcome. I will do that in table form next time. Thank so much for the kind feedback
A most useful information. There are many actively trading in crypto-currency. But there are a lot of grey zones between crypto-currency and Fiat currency. Good post , @bluemist :)
that's good work.....