Well… what can I say? I sometimes like arguing.
Of course everyone’s requirements and criteria (or concerns) relating to choice of trading platform are subjective. But in the end, this is an online forum, where opinions aren’t only shared among two or three discussant or users active in this very thread. It will be “consumed” by other silent readers, possibly many more (we’ve seen it regarding the active trader status). And some of them might act on advice given here. As such, I find it reasonable and appropriate to chime in and share my opinion, even if doesn’t directly address the question.
I am a proponent of focusing on what really matters.
And here’s the thing:
- Bitcoin is one of the most volatile (“real” underlying) assets you can buy. It has risen more than two thirds (39%) over the last 30 days alone, and more than 300% over the last 12 months.
- You intent to invest not "a huge amount of money".
In this light, are you really going to worry about the 0.30 CHF SEPA transfer fees your Swiss bank charges? Or should you still worried about the “terrible” exchange rate they are going to offer you, with a spread of typically …how much? 1%? …or 1.5%?
Everyone might have their own opinion on that. I still think it’s not very reasonable to worry about small one-time fees …on what’s not a huge amount money. Unless you’re waging your own personal war against banks and the banking system that has screwed you over. Or… you are doing these kinds of bank transfers regularly and/or for larger amounts.
Now, I’m often a cheapskate myself. If I have the choice to make a funds transfer or deposit money into a trading account, I will go to some lengths to get the best “bang(k) for my buck” and optimise on transfer and transaction costs. And if I have the choice of saving on transferring money, I will do that. I find that perfectly reasonable.
However, if one is going to invest…
- a “small” amount of money
- into a very speculative and volatile asset
- through an exchange platform dedicated to such (mainly/only crypto) assets and
- do this only occasionally
I would not base the choice of exchange/trading platform on these incidental and negligible fees.
From personal experience, EUR SEPA transfers to EU bank accounts that I have have been same-day.