What platform do you use to buy Bitcoin?

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:

  1. user friendly - as little bugs as possible and easy to trade -
  2. deposit in CHF possible
  3. variety of crypto currency
  4. 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.

Hello, i’am using Swissborg since December 2020 and i’m very satisfied. One day to deposit CHF, for withdrawal i received the same day, and the platform is very user friendly.(i never tried another platform to compare).

I would also recommend Kraken as a go to exchange. Legit team behind it, perfect trackrecord security wise and possibility to deposit in CHF.

Binance is also a safe bet + they offer access to a ton of altcoins. And the only time they suffer from a hack, no customer got impacted by it (Your fund are SAFU! as the meme says).
Recently there was even a case where one of the altcoin we could buy from their plateform (COVER if i remember correctly) got compromised. And they offered a refund for their clients who suffered a loss because of it, even if they had no responsability in this case. Pretty classy.

Hello,

I decided to give Kraken a shot. I’m just confused as there are two different apps (kraken crypto and kraken pro).

Not sure about the difference. Also a few comments about people getting hacked on the kraken crypto one.

Any thoughts about that?
Thanks

Is there a platform where you can trade TeslaCoin (TES)?
Given the recent news it could be any idea (before some celebrity tweets about it)…

I don’t use the app, but you can chat with their support. They are very responsive.

Concerning the alleged hacks it is difficult to comment without details. You should certainly use 2FA. If you use in addition their extra security features like the Global Settings Lock, I am very doubtful your assets can be stolen, even in the event of a hack.

So basically the panacea of crypto exchanges - needs to be everything but secure?

They seem to offer SEPA deposits for a cost of 0.80€.
Your Swiss bank might also charge you 0.30 CHF for such transfer.
And maybe 1% in currency exchange.

That‘s anything but „extreme“ in fees.

Sorry I don’t use the apps either, as long as you use the ones from “Payward, Inc” you should be fine when it comes to hacking.

This.

What is great about Kraken is that you can set-up your account with all the funding and withdrawal details (link to your Bank account here in CH and any other crypto-wallet in your possession) and then you lock it.

The feature of this locking is that even if a hacker steal your access, he won’t be able to add a new withdrawal address without Unlocking your account. And this process takes multiple days which reduce big time the risk of losing everything.

While they might prevent theft through hacking your personal devices and/or compromising your personal account, history tells us one should (rather?) worry about the platform itself getting hacked.

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