Topic: All The Fees - page 5. (Read 6947 times)
I think once bitcoins (hopefully) become more useful as an actual currency, people wont need to convert them so often. When there are less conversions there will be less fees.
Which fees?
Fees for convenience?Bank->Dwolla = free
Dwolla->MtGox = $.25
MtGox->BTC = typically .5% to .6% for majority of users, I imagine
Total exchange fees for Bank(USD)->BTC = .6% + $.25
Fee for transaction in the same currency using Paypal? 2.9% + $.30
0.6% isn't so bad. You can always get your BTC the old fashioned way. You can earn them. I have never bought any bitcoins through an exchange, and only bought a couple bitcoins off of a miner in person when I started. Everything else was from selling something.
Speculators have their role, but in any health currency they should constitute only about 5% (number pulled from...) of the transactions.
If you have anything you can sell, or can make and sell, or a service that people actually want, then sell them in bitcoins. You don't even need a website. Just use the marketplace. It could use something other than someone selling.
Why would I be disillusioned, though? Even if you're going full-circuit with every transaction, the fees for dealing with Bitcoin are much lower than Paypal or credit cards.
Which fees?
Fees for convenience?Bank->Dwolla = free
Dwolla->MtGox = $.25
MtGox->BTC = typically .5% to .6% for majority of users, I imagine
Total exchange fees for Bank(USD)->BTC = .6% + $.25
Fee for transaction in the same currency using Paypal? 2.9% + $.30
Edit: I should have been more clear. I was trying to contrast the fees of going the slow route (Bank->Dwolla) vs. the fast route (buying BTC with PPUSD or something)
Which fees?
Anyone else becoming completely disillusioned because of all the fees?
Start speaking up please.
Start speaking up please.
Jump to: