Which "broker" to use in switzerland to buy crypto?

I tried to search a bit in the forum but I did not find references to what I use, that is Crypto.com. Nobody uses it? Are there better intermediaries? Others I had heard of were Binance and Coinbase. I would like to buy crypto to make PACs with a small percentage in my portfolio. Taken by the heat of the drop these days, I bought something of BTC and ETH. But in reality I don’t even know if there will be taxes to pay especially with the small amounts I’m working with, if everything is regulated. Also if any of you are stacking or using their cashback cards. Sorry for the too many arguments, but I have seen a little something here and there a little scattered about it, on the forum and it seems useful to me if there was someone who uses this intermediary or others similar, to clarify a few things to those who are approaching us now.

Are you kidding?

And so on.

7 Likes

You van check the otger topic but to my experience Kraken is the cheaper if you want to buy directly in CHF, then Coinbase and Bitstamp are slightly more expensive and you will have to convert to EUR first but they are good alternative as well. Crypto.com are making a lot of promo recently and got attention but depending of your usage they might not be the cheapest. They offer good incentives (debit card with cashback, Spotify and Netflix vouchers and so on,…) but you will have to invest more or less money in their CRO token and lock them for at least 6 months. So you risk loosing more money if they token loose value more than the value of the cash back and free stuff you will get in between. Of course their token could get more value than BTC and/or ETH and you could win on both side. Up to you to decide.

Also I’m not sure how much are the fee to transfer CHF or EUR to them and what is the margin on exchange rate. With too much margin on exchange rate + fee to get in and out both in fiat and crypto, you might end up paying a lot more fee than other exchange. But as In said I don’t know these fees and couldn’t find them easily last time I check on their website, I hesitate but so far I didn’t do an account with them.

If you have some feedback, I would be interested.

Kraken is the best. Never ever use your credit card. The fees are too high (for all exchanges of course). Kraken has even a swiss IBAN (Bank Frick) so you can wire CHF with no fees and super fast. I usually transfer CHF from my neon account in the morning, it’s on Kraken within a few hours (on work days of course) You have BTC and ETH pairs in CHF. If you place a limit order, you pay the least trading fees. And then CHFUSD conversion is OKish too.

4 Likes

I did a little research and fully agree with you. I bought BTC for the first time last monday (I swear that I had planned it in advance, the market crash was just a nice addition to the plan :smiley: however for a small first investment it doesn’t make any difference)
Question: How do I set up the limit price? In IB I’m used to place it between the very small spread, but here I saw the index value and last price. When setting the limit to the index value the order wasn’t filled. Should I target for the last price if I want a fast execution?
Also in your experience which limit price do you target? Slightly under the current “Last price”? With so much fluctuation I wondered if it makes sense to target the “last price” or I should put a slightly lower price.
Thanks in advance!

First, select the pair you want to trade on the upper left corner on the home dashboard. Then click on “new order”. You can use the simple interface. Click on “order book” at the bottom of the page. That’s where you will see the actual bid/ask prices. Then you can adjust your limit price in the limit price field. What is shown to you on the top of the screen (index price, last price) is not always accurate.

If you really want to buy a coin, just set your limit price a little bit higher than the current ask price. Depending on the coin, that could be 0.00x or 0.0x more than the current ask price. Or you could just set yourself an entry where you want to buy (regardless of the current price).

1 Like

Super helpful, thanks a lot!

ignore the index price, this is only used for margin trading according to this article: https://support.kraken.com/hc/en-us/articles/360060617652-Real-time-index-reference-prices#:~:text=BTC%2FUSD%20mid-price%20on,10%2C000%20%2B%205%2C000%20%3D%2015%2C000%20USD.

i highly recommend against trading on margin. just do spot orders and you’ll be finde. regarding limit orders I have a little more sophisticated way to put my limit orders. I look at the overall trend, bollinger bands, RSI and MACD and I draw fibonacci levels on the chart. I usually put my limit orders a little bit above the different fib levels. and I layer in, means, that my 2nd layer of fib level entry is double the order of the first. for example:
.5 → 1x
.618 → 2x
.786 → 4x

Someone has evaluated FTX, I have read that SEPA transfers in EUR are free (maybe to be done through Revolut?) And the withdrawal of BTC is free, so maybe do a PAC there and send the BTC to your cold wallet every month, it could be an idea, right?

the exchange I use since 2020 has 0.15% fees for withdrawal and 0% for deposit, and no fees for limited orders.
Instant SEPA for a fixed euro for every transfer, with revolut it’s pretty cheap and fast

1 Like

Which one do you use?

I use coinmetro (not shilling)

Hi fellow coinmetroid! I thought I was alone. One of the rare ICOs I have participated in.

1 Like

I didn’t unfortunatly but it’s the only Cex I use on a daily basis :heart:

I wouldn’t dabble around with a CEX outside of the top 20… Wayyy too risky. Hope you take your coins off the exchange

99% of the Cex, in or outside the top 20 suck.
They all have unjustified fees, trade against you, sell more than they own, get “saturated” during the big sell movements etc.
Coinmetro is in the 1% (Kraken is pretty decent too).

If you use Coinbase, Binance, FTX, crypto dot com, Kucoin, Okex, Huobi… just stay in traditional finance you’ll be more respected :smiley:

I never experienced an outage during high volatility and high volume times with FTX and Kraken (but with Coinbase and Binance…)
Could you please clarify “unjustified fees”, “trade against you”, “sell more than they own” with real examples?
Regarding FIAT onramp for CHF, Kraken is no doubt the best - you can wire CHF for no fees to Kraken from your bank account within 1 hour (during office hours ofc) and buy ETH and BTC without any conversion to EUR or USD.

Kraken is decent like I said.

  • Most of the fees are too high and not justified.
    Check the exchanges rates.

  • “Crypto’s got a lot of those challenges—of platforms trading ahead of their customers,” Gensler told Bloomberg. “In fact, they’re trading against their customers often because they’re market-marking against their customers.”

trading-against-their-customers-says-sec-chair-gensler

  • Do you know why Kucoin put their wallets on “maintenance” during big moves? Because as they don’t really have the cryptos they’re selling, they might have a bank run problem.

And if you want to add :

  • washtrading on unregulated exchanges (Huobi, Binance, Kucoin…)
  • insider trading

"Sun pushed TRX to finish its token sale the day before the ban was announced. Sun had been tipped off by Changpeng “CZ” Zhao, the founder and CEO of Binance, one of the world’s busiest cryptocurrency exchanges.

“They were in it together,” a former employee told me.

Allegedly, Zhao learned of the impending government ban from his own connections."


A part of many issues with 99% of Cex, inside or outside the top 20.

Si when I choose a Cex, I don’t care about the numbers, I check if I might get rekt. Coinmetro is on the forefront of compliance. But it’s mostly because I buy and hold, I don’t trade.

We need regulations because it’s really a lot of trash, that people wouldn’t accept from their traditional banks.

thanks for the sources! will dive into it later. I consider no CEX as save, until we get some decent regulation. therefore I take my coins off the exchange.

2 Likes

Here we go again

1 Like