I also use Binance and transfer to a cold wallet. Easy on the web or mobile app. they also much lower fees than Coinbase
@GdOeS I am using it since quiet a few months now. All seems to work great. But i didn’t withdraw money yet. I seems there is a fee of $5.
I was wondering how other people trade with crypto in switzerland. There is an offer from Swissquote. But they don’t have many cryptocurrencies, only the big ones.
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90% of the others are a short-lived fad / crap / scam / Ponzi scheme anyway.
Probably more. Sure, you may make a quick hype on them, fueled by internet-induced hype and bonus systems. But that’s just short-term speculation. Swissquote currently a dozen cryptocurrencies - that’s at least twice the number of currencies that will stay relevant for investment purposes over the long term.
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Thank you for your comment. Does anyone have experience with transferring crypto from one platform to another? You need to put your cryptos in a wallet and then from the wallet to the other platform (like Swissquote or Binance etc.), right?
Yes.
And you would probably be better off keeping them in your wallet unless you want to day trade.
Hello,
Is Swissquote really offering any kind of warranty in case of a hack on their side?
Here’s a piece of their T&C where, as far as I my understanding goes, they pretty much say that if anything happens they hold no liability whatsoever.
Is there anything that I missed?
I think you have well understood, they hold no liability whatsoever, but I think it is rather usual for exchanges generally speaking and I would be surprised if it is not exactly the same for Coinbase/Kraken/Binance and co.
Sometimes it makes sense (e.g. if you send your btc to a wrong address) and sometimes it does not (e.g. if they are hacked).
That’s why we usually suggest to either remove all your Bitcoins from exchanges once purchased or to only leave a small amount if you want to trade.
Thanks for your answer. So swissquote doesn’t really have anything better to offer than kraken security wise ? (Unless you are an active trader and leave your btc on the exchange)
Exactly, Kraken is actually known for its advanced security, that’s why I am personally using it. Once you have all their security settings on, you are in a good spot already.
I started investing in cryptocurrencies in 2017 and since then I tested different platforms.
Ordered alphabetically:
- Binance: my preferred platform for pure crypto-crypto pairs. High liquidity and you can find a very large choice of cryptocurrencies. Low fees of 0.1%, even lower if you hold some of the Binance cryptocurrency BNB. For some time it has been possible to buy from or sell to EUR, deposit and withdrawal are cheap and fast with my Revolut account. The platform is nice and user-friendly. My referral link.
- Bitstamp: possibility to use euros, somewhat okay, but no real advantage compared to other platforms.
- Cex: Offers possibility to use euros, but I find it a bit shady and some banks refuse payments to/from it. No advantage compared to other exchanges, so I don’t use it anymore.
- Coinbase: For users who want to be able to click on a single button to buy or sell. User-friendly and all, but I do not recommend it because the fees are quite high.
- Coinbase Pro: Actually related to Coinbase, but gives more control with lower fees. However, Last year they increased the trade fees to 0.5%, which is very high compared to the other platforms.
- Kraken: Offers quite many fiat/crypto pairs, especially CHF. The platform is okay, but especially for the CHF pairs the spreads may be quite large. Fees for small investors will be of roughly 0.26%. Revolut refused withdrawals from Kraken, but I was able to deposit/withdraw CHF with my Neon account.
- KuCoin: okay but in my eyes, it has no real advantage compared to Binance.
- Lykke: Swiss-based exchange with no trade fees but sometimes with large spreads. Offers CHF, EUR and other fiat currencies in addition to the main cryptocurrencies.
As a summary, I am now happily using a mix of Kraken, Lykke and Binance.
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Kraken offer for me the best ratio simplicity / cost / CHF pair.
Hello guys, do you know if Degiro offers also bitcoin/crypto trading?
For a very amateur investor for crypto for small amounts/testing on cryptocurrencies (also like dogecoing etc) which platform would you suggest?
I would like mostly user friendliness, simplicity and lowest possible fees
Thanks a lot!
Hello, no Bitcoin nor other coins on Degiro but I think they have a few trackers.
I always recommend Kraken for everyone and similarly to others in this thread, they have lots of advantages. By the way, Dogecoin is a meme, proceed with extra caution.
Welcome to the crypto world!
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What’s your process to buy BTC on Binance ? I don’t quite understand how Binance works and what’s different from Coinbase.
I watched several videos and saw people doing the following
In the “buy crypto” tab select the currency (ex: CHF) and use Revolut/Credit card to pay (I assume Revolut is cheaper?)
AT this stage, do you buy BTC directly ? I saw some people buying USDT first and then trading it on the platform for BTC.
I would recommend to select the “Classic” option when trading. This gives you much more control. This requires funding your account with EUR or other (crypto)currencies first though.
More control because you can select exactly how much you want to buy at which price. If you want to buy bitcoin but at a lower price than the current one, the order you place will be what is called a “limit order” that will only be executed if the price drops accordingly. This way of trading may require some time to get used to, though.
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Thank you for your answer. So I go to Wallet/Fiat and spot/Deposit and then select the currency and the deposit method. I read you fund your account with Revolut, Do you use SEPA or Bank Card (+1.8% fee) ?
The reason you’re choosing to fund in EUR instad of USD is because you cannot use Revolut with USD, right ?
Yes, exactly, I used SEPA. It is normally very fast (less than one day, sometimes minutes). I haven’t tried USD to be honest, but I wouldn’t expect it to be as practical as EUR.
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Great ! thank you Olen
Guys, I finally decided to open an account in Coinbase for crypto, however I am already regretting it… explanation below
The app crashed already several times during the initial verification process and I simply couldn’t move a step ahead in the process no matter / whatever I was trying before.
Finally after three weeks or so I tried again - and just randomly like that suddenly it worked! Passport validation successful and account opened. However when I was trying to add a payment method from bank account in CHF it will not allow me to select bank deposit in CHF but only in EURO (and maybe in USD if I remember correctly) which is terrible from my point of view…
For those ones from Switzerland who have a Coinbase account are you depositing money on CHF or in EURO?
Then I realised that my country/address in Coinbase was not Switzerland - which was wrong. I tried to correct that, I followed every step as they described again and again their process simply does not work and loops back again and again to the same bug. So, in order to be able to change my country I had to pass again ID verification process, I did it again successfully updated uploaded a second ID for verification as they instructed me to do so, but again when I return back to the page for changing my country the process loops again and again the same and asks me to follow again ID verification steps…
I send an email to their customer support, no reply 4 days now…
Having said all that I feel really pissed off from Coinbase (please correct me if something wrong in my thinking process and the above as described sounds normal) and I will go with another platform which I would like to be:
- user friendly - as little bugs as possible and easy to trade -
- deposit in CHF possible
- variety of crypto currency
- fees
So…I am looking now at Binance and at Bitpanda.
Binance seems to be the best app however there are people claiming that CHF deposit is not possible and that causes extreme fees for deposits from Swiss banks plus its kind of complicated for the very beginner…
Bitpanda on the other hand seems to be user friendly, simple and easy just the variety of the cryptos I think is not as large as in the other platforms…
Any thoughts on this please?
I always recommend Kraken for the simplicity, security, and possibility to deposit CHF. If you want to avoid all KYC, Hodlhodl is also a good place (I can create a CHF offer if you want).
If you end-up still using Coinbase, make sure to use the Pro version (you access it in one click) as it has lower fees.