Bitcoin Saving Plan ("Sparplan")

Investing / Cryptocurrencies
45

If you don’t hunt for a better interest rates on crypto and is not concerned about a safer storage of coins,
the simplest way is probably to go to big Swissquote (not YUH). You can transfer EUR to SQ account and buy crypto with it. Fee is 1%, but there’s nothing else (no custody fees also), so definitely better than Revolut. I entered now 0.1 EUR trade size in the form, didn’t get any error messages.

I will also check Kraken: EUR deposits are free and can be automated, but I don’t know yet if they have a minimum trade size. Probably not. At Kraken you should use Trade interface, then for market orders you pay 0.26%. If you don’t transfer out and you are fine with keeping coins there (and it is totally fine), you don’t have any other fees and can even earn some interest.

Another note: I am going to send EUR to crypto exchanges from my YUH Euro account, not directly from Revolut. I saw some rumors that Revolut might not like it and give you a hard time.

46

I like more and more what I see from relai.ch, but it is only bitcoin DCA.

They are super annoying, but once you have “cracked” the first payment, you should be fine!

47

Thanks a lot for all feedbacks. very interesting suggestions.

Few reactions/additional questions:
-in which of the above mentioned platforms I can set up a Sparplan with 1chf/day (preferred) or 7chf/week or 30chf/month?
I honestly do not want to do it manually :slight_smile :slight_smile:

-which one is the most secure? is there any one being authorized with banking license or something similar?

-is there anyone I can directly work with chf, insteading of having to convert first in eur?

-why you suggest to not use Yuh? for what I understand it cost “only” 1% and it is fully Swiss (Postfinance+swissquote)

-ladt point, but very important for.me: how does it work with the tax declaration?
are these platforms providing you with the needed papers? please kindly argument on the topic.

I apologize for asking maybe stupid question, but I am definitely newby in this topic and before planning anything (in case I will start in 2022…2021 is almost over and.i do not want to rush…) I want to have a clearer picture.

many thanks in advance

48

They quote prices in USD. So you either pay extra 0.95% for the currency conversion or trouble yourself and also pay to receive USD in Yuh.

49

thanks. very clear.

with swissquote this problem is not there?

do you know any other big Swiss entity (ubs, cs, …) dealing with bitcoin? I am honestly a hit worried of this small start ups.

50

If you want secure, you go for your own hardware or software crypto wallet. But Coinbase (money transmission service license in US), kraken and even Binance are considered pretty safe.

51

They quote in USD and EUR, and EUR is pretty easy to transfer around.

52

Kraken, but you shouldn’t do it because of low liquidity and wide spreads in /CHF pairs.

53

thanks a lot. clear. which is the cheapest way to transfer? Zak? Yuh? csx? revolut?

54

Transfer Euro? To Swissquote? Revolut, especially if you have to convert CHF to EUR.

55

Btw you can now transfer BTC and ETH to Swissquote, but only from Coinbase, Gemini and something else.

56

thanks. on general, is there a cheap solution to purchase crypto directly from chf without doing complex triangulations?
I am looking for simplicity, even at (a bit, hopefully not too much) higher cost

57

There are lots of services who are happy to sell you crypto for >2% fee, including Yuh and Revolut.

58

Thanks Dr. PI. What you say makes very much sense.

I was digging a bit more on Kraken and it seems that you can trade BTC and ETH directly in CHF. Here the link: https://support.kraken.com/hc/en-us/articles/201893658-Available-currency-pairs-on-Kraken
This means I will just need to send CHF to Kraken to their Swiss bank (Bank Frick) and I will just pay the 0.26% fee (taker approach, so on market price).

No need then to convert to EUR in Revolut and then send the money to Kraken.

Am I missing something?

59

0.75 CHF fee for depositing CHF.

Of course you can load a higher amount at once and exchange a small amount daily.

Btw: The minimums are 1 unit of currency for USD, EUR, GBP, CAD, AUD, CHF

60

If anyone has a Relai referral code, please DM me.

61

strange… I have never paid a fee for depositing SIC on Kraken

image

62

or just set a limit price and you are the maker… with discount.

63

Can anyone else confirm or deny? One can be an exception, 2 start to be a rule…

64

can you better argument giving a practical example applied to my possible strategy?