If you are European, I think it would be better and cheaper to use SEPA transfers instead of purchase with Credit card.
From my own experience I can recommend Spectrocoin.com. Their fees aren't high and if you need to withdraw bitcoins, you can set custom fee there. It way much better than pay 0.0025 btc fixed fee on Kraken.
Topic: Exchange with lowest buying fees for europeans? (Read 891 times)
Which wallet is the best for someone from EU. I noticed coinbase takes cca. 3% fee on every purchase of bitcoin for EUR
it may be too early for you to start trading because you do not yet understand the exchanges, the bitcoin concept and how fees work.
Yes, understanding the details of Bitcoin is not necessary (if preferable) but understanding what is a wallet, what is a private key, that's mandatory.
I don't recommend Coinbase, I have used their services in the past, and their customer support is shit.
They even put my withdrawals on hold few times with no reason.
I switched since a year now to Kraken. My SEPA transfers in EUR are processed in couple of days, and you have full amount available.
Trading will incur fees which is usually 0.15/0.25 for maker /taker fees.
They even put my withdrawals on hold few times with no reason.
I switched since a year now to Kraken. My SEPA transfers in EUR are processed in couple of days, and you have full amount available.
Trading will incur fees which is usually 0.15/0.25 for maker /taker fees.
Which wallet is the best for someone from EU. I noticed coinbase takes cca. 3% fee on every purchase of bitcoin for EUR
it may be too early for you to start trading because you do not yet understand the exchanges, the bitcoin concept and how fees work.
One question about SEPA. Does that simply mean I have to be from european zone and use any card( VISA debit for my example) or does it require any further specific work at the bank?
SEPA is a bank transfer. You must go to your bank, or easier nowadays connect to your bank account online, and send the money.
One question about SEPA. Does that simply mean I have to be from european zone and use any card( VISA debit for my example) or does it require any further specific work at the bank?
SEPA just means a transaction to any account in an EU or EEA country. In practice all it does it guarantees faster and cheaper payments than ordinary international bank wires. It has no relation to any credit or debit card.
I use Kraken. I'm not recommending them or anything, but the fees are nowhere close to 3%. I fund through SEPA so that's free. I buy with 0.26% fee or less (with the amount traded in the last month, the fee goes down). I transfer to a wallet for ฿0.001 (new fee, it was only ฿0.0005 until a couple of weeks ago), unfortunately at the time you must pay high fees to transfer in BTC if you want the transaction to confirm.
Poloniex however charges less for withdrawals, only ฿0.0001, but they don't take fiat so using a fiat<=>crypto exchange is still mandatory.
Poloniex however charges less for withdrawals, only ฿0.0001, but they don't take fiat so using a fiat<=>crypto exchange is still mandatory.
The exchanges, at least the ones that everyone here uses, do not mod their fees for area. there is not any IP location in the blockchain data and it would be a real pain for them to include it everywhere. the account sign up may ask for it, but that goes against the nature of why bitcoin was started and they just don't do it.
One question about SEPA. Does that simply mean I have to be from european zone and use any card( VISA debit for my example) or does it require any further specific work at the bank?
I use Kraken. I'm not recommending them or anything, but the fees are nowhere close to 3%. I fund through SEPA so that's free. I buy with 0.26% fee or less (with the amount traded in the last month, the fee goes down). I transfer to a wallet for ฿0.001 (new fee, it was only ฿0.0005 until a couple of weeks ago), unfortunately at the time you must pay high fees to transfer in BTC if you want the transaction to confirm.
Poloniex however charges less for withdrawals, only ฿0.0001, but they don't take fiat so using a fiat<=>crypto exchange is still mandatory.
Poloniex however charges less for withdrawals, only ฿0.0001, but they don't take fiat so using a fiat<=>crypto exchange is still mandatory.
I used Bitstamp when I was buying and worked pretty well, fees were negligible.
It is one of the most well known exchanges in Europe.
I haven't bough for a while, been mainly hodling since but I would recommend especially if going via EU Bank.
It is one of the most well known exchanges in Europe.
I haven't bough for a while, been mainly hodling since but I would recommend especially if going via EU Bank.
Ok thanks all for advice one more thing. When I buy BTC in Coinbase for example and I decide to transfer them to exchange market such as Poloniex i'm again charged cca. 2€ in BTC. What about this "secondary" fee, how high is it on competitive wallets?
Right now most providers will charge you a fee, in your case you got charged a fee to buy coins and one to withdraw to an exchange.
Any other exchange will charge you a fee too, unless you choose an exchange such as Kraken and Bitstamp which allow you to buy and trade more coins than Coinbase.
However Kraken recently put their withdrawal fees higher... Bitstamp for Europe is not bad, depending on what you want to buy.
Ok thanks all for advice one more thing. When I buy BTC in Coinbase for example and I decide to transfer them to exchange market such as Poloniex i'm again charged cca. 2€ in BTC. What about this "secondary" fee, how high is it on competitive wallets?
Fees are regular in bitcoin world, get used to it. No matter what you have heard ( to me BTC was introduced like payment option without fee ... that time it was almost true, but as aleays times are changing.)
In simple, you have to pay a fee for EACH TRANSACTION (and those fees are quite high last years. Which is thing I do not like on BTC at all)
In theoretical there could be no fees at all, but miners will always choose to confirm those transactions with higher fees prior the others and as long as people will send transactions with high fees they will choose them to confirm .... so it's kind of neverending circle.
Higher fee means your transaction gets confirmed earlier (so if you are sending BTC between your own account and do not need to be quick you can use lesser fee).
Fee is usually counted in satoshis per byte, check the actual fee size (and estimated time to confirmation) at https://bitcoinfees.21.co
Nevertheless 2 EUR fee seems too much for me ( usually should be in 0.000X BTC values ) ... so something around 1 EUR ... but this depends on many other factors ( like how many imputs/outpusts goes into transaction etc.)
Ok thanks all for advice one more thing. When I buy BTC in Coinbase for example and I decide to transfer them to exchange market such as Poloniex i'm again charged cca. 2€ in BTC. What about this "secondary" fee, how high is it on competitive wallets?
Cubits.com as far as I can remember has minimal fees, but the lowest amount you can buy is around 120 Euros
Which wallet is the best for someone from EU. I noticed coinbase takes cca. 3% fee on every purchase of bitcoin for EUR
Coinbase is not wallet but exchange (with wallet feature). Any way of purchase will cost you certain fee and whenever you are deling with CC purchase the fee goes even higher (this is certain way of protection as the CC payments can be canceled) ... do not expect less than 3% fee when buying using CC.
I would point you to localbitcoins where you can look for a nearby trader and make a deal with him ( meet in personal to use cash, transfer fiat to his bank account ...) but what you are going to save on fees you are going to spend on higher BTC price.
Other option is to ask in Bitcoin Forum > Economy > Marketplace > Currency exchange if anybody is willing to sell you BTC.
In sum, there is no way to completely avoid fees unles you have a friend whose willing to sell you his BTCs.
I see, but I mean't more like which of the "major" sites have lowest fees?
Depends on way how you are going to pay. Are you going to buy only using CC? Then I'm affraid there is no better option (3% on CC is pretty low, would expect 4% - 7%) ... any better deal smells like scam.
In past much better option for me was to contact seller via localbcoins and transfer money within the same bank (but this depends on your location ... how many sellers are close to you so they have to compete each other. Single seller can make the price goes really high).
I see, but I mean't more like which of the "major" sites have lowest fees?
You must check for yourself and see what suit you best. On top of that, fee's are not everything. Security is important, transparency of exchange if they are not running on fractional reserves.
I would recommend to check bitstamp, poloniex and bitfinex. Then kraken or gemini.
There are a lot of exchanges where you can buy bitcoin with EUR:
GDAX: https://www.gdax.com/
Bitstamp: https://www.bitstamp.net/
itBit: https://www.itbit.com/
Coinsbank: https://coinsbank.com/
But none of them acts like Coinbase (online wallet), and I don't know how much they charge on BTC/EUR trading.
GDAX: https://www.gdax.com/
Bitstamp: https://www.bitstamp.net/
itBit: https://www.itbit.com/
Coinsbank: https://coinsbank.com/
But none of them acts like Coinbase (online wallet), and I don't know how much they charge on BTC/EUR trading.
Which wallet is the best for someone from EU. I noticed coinbase takes cca. 3% fee on every purchase of bitcoin for EUR
Coinbase is not wallet but exchange (with wallet feature). Any way of purchase will cost you certain fee and whenever you are deling with CC purchase the fee goes even higher (this is certain way of protection as the CC payments can be canceled) ... do not expect less than 3% fee when buying using CC.
I would point you to localbitcoins where you can look for a nearby trader and make a deal with him ( meet in personal to use cash, transfer fiat to his bank account ...) but what you are going to save on fees you are going to spend on higher BTC price.
Other option is to ask in Bitcoin Forum > Economy > Marketplace > Currency exchange if anybody is willing to sell you BTC.
In sum, there is no way to completely avoid fees unles you have a friend whose willing to sell you his BTCs.
I see, but I mean't more like which of the "major" sites have lowest fees?
Which wallet is the best for someone from EU. I noticed coinbase takes cca. 3% fee on every purchase of bitcoin for EUR
Coinbase is not wallet but exchange (with wallet feature). Any way of purchase will cost you certain fee and whenever you are deling with CC purchase the fee goes even higher (this is certain way of protection as the CC payments can be canceled) ... do not expect less than 3% fee when buying using CC.
I would point you to localbitcoins where you can look for a nearby trader and make a deal with him ( meet in personal to use cash, transfer fiat to his bank account ...) but what you are going to save on fees you are going to spend on higher BTC price.
Other option is to ask in Bitcoin Forum > Economy > Marketplace > Currency exchange if anybody is willing to sell you BTC.
In sum, there is no way to completely avoid fees unles you have a friend whose willing to sell you his BTCs.
Which wallet is the best for someone from EU. I noticed coinbase takes cca. 3% fee on every purchase of bitcoin for EUR
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