Topic: Neteller and BTC (Read 405 times)

I just wanted to have some BTC stored on Xapo but not for a long time because I just sell my salary turned into BTC, that is what I've been doing for 1 year and a half, I use to buy BTC with Xapo using Neteller because I get pay in Neteller and I just needed to wait a few weeks to sell the BTC to get more money, as a investment I mean, I'm kinda new in this cryptoCurrencyworld, that is why I came to this forum to receive some help because everything was fine till Xapo started to charge highly fees to send to an external address, I use to sell BTC in LB for example and I use to get a lot because of the non existence and afterwards low fees in Xapo but now I'm loosing money. I will search information about the p2p trade because I don't know what you mean to be honest. So thank you!


If you mean to charge BTC to LB using the traders in LB that is way more expensive than using Neteller -> Xapo because you have to buy BTC first in LB and everytime I search for someone to buy BTC with Neteller they always charge like 400-300$ more than the current price of the BTC, It's insane.


You explained what I've been doing pretty well audaciousbeing, I don't keep money for a long time on Xapo, I just use my salary to get BTC in Xapo because is instant, taking advantage that I can add funds using Neteller and the fee for me is reasonable and as you said I think I'll have to keep using Xapo.

Thanks

I am not sure you took time to really understand what Op is trying to pass across he never intended to keep money there for a very long time as that is his salary which he was converting then sell and I also don't know why Xapo will block someone who is making money for them because what he is doing so far is not illegal. I will say if you are comfortable with the services Xapo is offering stick to it rather than looking for other means then fall prey of scammers.

I suggest you to get direct traders through local bitcoins. You can easily find the rating and reviews of individual traders and their fees are generally cheaper.

A really big problem is that xapo continues to pay unnecessarily high amounts of transactions fees. Even paying half of what they pay will be able to get you a confirmation in the first block, seeing what other xapo users have been paying recently.

Why do you need those bitcoins anyways? If you want to buy something online you could possibly just pay it in neteller. If you just want to get your bitcoins in your own wallet, you don't like to store them on xapo and you are only trading small amounts at a time, then trade p2p. Get the other guy to send the btc directly to wherever you want the coins to be sent to instead of going through an exchange platform. But xapo probably gives you the best rates as i said.

I've read all your comments and all of them are highly appreciated.
Thank you so much.

I think the best thing to do is trying to save up a large amount, instead of sending all the BTC...and wait a little maybe the fees go down.

Thanks again to all of you.

Yeah xapo used to cover your sending fees, and so did coinbase. But then the fees just gotten too high for them to cover so they started to charge customers for it.

You really don't get much choice with neteller. Xapo is one of the best available so you should stick to them, as all the others have shitty exchnage rates. Try to save up to a large amount, instead of sending the btc all the time. That way, you save on transaction fees.

THere is really no way to avoid the blockchain fee right now. Every single site is charging it. But it should come down a bit soon, hopefully after the hard fork if it goes successfully.

Xapo is still your best choice available. Coinbase does not accept neteller, and only other way you'll be able to get it is through LBC or Paxful which will mark up the price significantly.

If you are concerned about transaction fees to external addresses then you can simply transfer it to a xapo users account, completing an offchain transfer which is totally free. Of course, this require the other party to have a xapo account which not everyone has.

The fee is a mining fee, given to miners. Nothing you can do to avoid it. I would suggest buying the btc and keeping it in xapo until there is a sizeable amount(or just stack up your neteller funds), that way you can save on multiple small transactions and just do everything in one big transaction.

But XAPO is a web wallet and it is  not recommended to use it for storing bitcoins for long term, just be caution because anytime they can block your account if they found any suspicious problem.

Apart from Xapo, other alternatives would be BitPanda or CoinCorner. LBC rates would obviously be high. I think to add $50 through Neteller in Xapo would cost a procession fee of around $3. Don't know about BitPanda fee, but CoinCorner charges 5%, might be higher than Xapo.

https://www.coincorner.com/Fees

I have used Xapo, but not these two so do your research before using their services.

I see.. Thank you for your suggestion.

The problem with transaction fees isn't xapo's fault. They used to have a free to pay business model but a few months ago they changed that so that you have to cover the transaction fee yourself, which was understandable since the transaction fee was so high. Coinbase did a similar thing.

I would suggest sticking to xapo if you are already using them and verified. Because you won't get much better deals elsewhere, you will still be charged blockchain fees and you'll only get worse rates. And you have to do all your verification again.

For example, the best offer you're going to get on LBC is around $300-400 above spot, and you'll still have to pay the 0.0005 or so transcation fee if you are sending to a bitcoin address.

Hello,

I work for a company since 2 years ago and they pay my salary via Neteller every end of the running month, I've been using XAPO as my BTC wallet because I can use my money on Neteller to add funds to Xapo and transfer the USD to BTC instanly on XAPO, then I use to sell the BTC all the time sending to external address paying a very low fee.

Now the fees on XAPO to send BTC to external adress are ridiculous, Is there any other good wallet on the internet where I can add funds easily with Neteller and tranfers to BTC with small fees for transactions to external addresses ?