bitcoin vs. altcoin purchase, fees | Bitcointalksearch.org

hasiramasenju

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Quote from: ulhaq on March 06, 2017, 08:56:26 PM

I am planning on purchasing some altcoins (monero, dash, probably others). Do I have to buy bitcoin first (from fiat) and then exchange it for altcoins, or is there a way to buy altcoins directly? If it would save money to buy altcoins would also be nice, as the initial purchase of bitcoin from fiat is expensive (eg, 1.5% at coinbase, which seems comparable to others).

Can altcoins be withdrawn directly from exchanges without having to convert them into bitcoin?

because there are none altcoin exchange which is accept fiat as their payment method then of course you have to buy bitcoin first if you want to trade with altcoins and i do agree with the post above me that poloniex is the best place i guess to do so because they have low fees for each transactions rather than other exchanges

carlfebz2

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Quote from: Rockie1234 on March 07, 2017, 03:49:58 AM

Quote from: ulhaq on March 07, 2017, 02:07:49 AM

Thanks, this is just what I was looking for. From what I understand, it's much cheaper for me to buy tether and convert it to altcoins:
https://tether.to/fees/
for fees of .10% to convert fiat.

If I buy altcoins at poloniex, can I then withdraw it as altcoin to an offline altcoin wallet?

Of course, never keep money on exchanges in any currency for extended periods of time. This is because there's always the risk that the exchange is hacked or goes down, which would mean you lose your money. Just search up the altcoin you are looking for and download their wallet. They have addresses in the exact same way. To convert to an altcoin you need to have btc (you can't convert from altcoin to altcoin unless tether/Monero)

Listed to this advice since it would really avoid you out of getting lost of your altcoins since we wont know on when a certain exchange would be hacked.Being mentioned above you cant purchase directly altcoins with fiat just see on their payment options usually you could find it directly if they offer or not.

Rockie1234

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Quote from: ulhaq on March 07, 2017, 02:07:49 AM

Thanks, this is just what I was looking for. From what I understand, it's much cheaper for me to buy tether and convert it to altcoins:
https://tether.to/fees/
for fees of .10% to convert fiat.

If I buy altcoins at poloniex, can I then withdraw it as altcoin to an offline altcoin wallet?

Of course, never keep money on exchanges in any currency for extended periods of time. This is because there's always the risk that the exchange is hacked or goes down, which would mean you lose your money. Just search up the altcoin you are looking for and download their wallet. They have addresses in the exact same way. To convert to an altcoin you need to have btc (you can't convert from altcoin to altcoin unless tether/Monero)

ulhaq

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Thanks, this is just what I was looking for. From what I understand, it's much cheaper for me to buy tether and convert it to altcoins:
https://tether.to/fees/
for fees of .10% to convert fiat.

If I buy altcoins at poloniex, can I then withdraw it as altcoin to an offline altcoin wallet?

cengsuwuei

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you can trading to altcoin direct use fiat money in kraken and bitfinex, you can deposit fiat money use transfer wire, debit card or more
in poloniex can direct trading but only use USDT, deposit and withdraw only use USDT

Lunyr

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Quote from: ulhaq on March 06, 2017, 08:56:26 PM

I am planning on purchasing some altcoins (monero, dash, probably others). Do I have to buy bitcoin first (from fiat) and then exchange it for altcoins, or is there a way to buy altcoins directly? If it would save money to buy altcoins would also be nice, as the initial purchase of bitcoin from fiat is expensive (eg, 1.5% at coinbase, which seems comparable to others).

Can altcoins be withdrawn directly from exchanges without having to convert them into bitcoin?

Yes for some of the popular ones such as Monero, Dash, ETH, etc. For example, on Poloniex, you can buy those altcoins directly with fiat currency. https://poloniex.com/exchange#usdt_xmr

ulhaq

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I am planning on purchasing some altcoins (monero, dash, probably others). Do I have to buy bitcoin first (from fiat) and then exchange it for altcoins, or is there a way to buy altcoins directly? If it would save money to buy altcoins would also be nice, as the initial purchase of bitcoin from fiat is expensive (eg, 1.5% at coinbase, which seems comparable to others).

Can altcoins be withdrawn directly from exchanges without having to convert them into bitcoin?

Topic: bitcoin vs. altcoin purchase, fees (Read 618 times)