I am talking about the transactions fees (sorry I am new and thus not so precise yet). I used bitpanda.de and I had to pay 0,00110400 BTC which was about 4 Euro (4.8 USD) fee for one transaction to the wallet on my laptop. If it is really that expensive, I could just stick with my bank. Thus I found this page: http://bitcoinfees.21.co/ with which I could optimize my transaction fees, but I realized that not all wallets (I am using Exodus which is not that flexible. So I am searching another wallet as well) or online platforms allow adapting the fee. I saw that coinbase.com allows it, but it doesn't work with german accounts.
Bitcoin.de is some kind of market place where you can buy bitcoins from other people, which takes forever and is cumbersome. I want to have some kind of shop or virtual bank, where I can just go and "change" money instantly (like bitpanda.de), but with adaptable transaction fees.
I just checked simplecoin.eu. The minimum amount of Euro to buy bitcoins for is 191€!! I want to start small to get a feeling first.
[Suspicious link removed] and Electrum.org are wallets. The first seems to be an online wallet the latter a downloadable local wallet. Maybe the transaction fees could be changed (which I will check later), but I cannot buy bitcoins there.
Any other suggestions?
(As a side question: If you set the transaction fee too low, and it actually takes too long, can you somehow cancel that transaction and try again with a higher fee? Or is your money really lost?)
Bitcoin.de is some kind of market place where you can buy bitcoins from other people, which takes forever and is cumbersome. I want to have some kind of shop or virtual bank, where I can just go and "change" money instantly (like bitpanda.de), but with adaptable transaction fees.
I just checked simplecoin.eu. The minimum amount of Euro to buy bitcoins for is 191€!! I want to start small to get a feeling first.
[Suspicious link removed] and Electrum.org are wallets. The first seems to be an online wallet the latter a downloadable local wallet. Maybe the transaction fees could be changed (which I will check later), but I cannot buy bitcoins there.
Any other suggestions?
(As a side question: If you set the transaction fee too low, and it actually takes too long, can you somehow cancel that transaction and try again with a higher fee? Or is your money really lost?)
1. There are services that you can just deposit convert then withdraw. That just depends on your country if there are any there. I believe you can use GDAX, if am not mistaken. You can send using SEPA. Not very familiar with the process though, since I haven't tried and I am not from the EU.
Bonus: I believe Kraken can also do this too. Not sure though how you will deposit there. Just do your research.
2. You can't set custom fees if you are using online wallets, exchange sites (such as GDAX, Poloniex, Bittrex, Kraken, etc.). They fix their own transaction/miner's fees.
3.The only way you can optimize fees or set a custom one is using your own non-online wallet like electrum, bitcoin-qt, armory, etc. However, the problem goes back to, how can you get bitcoins first? Then you will have to submit yourself back to those services that set large enough fees so that you transactions pushes through quickly.
4. If you somehow were able to put some bitcoins in your electrum wallet, yes you can set a low fee. You can actually set 0 fees, if you want. It may confirm, but it is more likely that it will not. It is not lost, since you can still accelerate it, the child pays for the parent (research this if you are interested, it's quite complicated), or finally it gets dropped from the memory pool of the network and the bitcoins go back to its original wallet.
Tip: To save on fees. Here are some steps,
1. Try to buy bitcoins from an exchange like Kraken.
2. Convert your bitcoins to some other cryptocurrency like doge or anything that has really low price per coin (which is also available on poloniex)
3. Then move that cryptocurrency to poloniex.
4. Convert it back to bitcoins,
5. Then you can withdraw the bitcoin for 0.0001BTC fee to any bitcoin address.
Short explanation: Kraken has high fees to move bitcoins, poloniex has only 0.0001BTC fees. Doge coin probably charge 0.001 doge to move, but that's really cheap when translated to btc.
