Question about USD Conversion into BTC/ETH

Mandoy

sr. member

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Aurox

Quote from: pawanjain on January 08, 2018, 06:55:27 AM

In this case you can try using Localbitcoins as many people use it these days. There are many sellers in this website who offer different prices and you can select the best price among them and get the coins delivered to your address. Be sure not to trade with new sellers as there are a few people who scam others. Trade with people with positive trust as they are genuine sellers. You can also find a seller with the same city and try to make the deal with him in person.

Localbitcoins is one of my favorites since it is very reliable when it comes to buying bitcoin using your US Dollars. But there is a problem sometimes since the value of bitcoin when you buy is far more higher compared to other exchanges like coinbase. But anyway the transactions are fast and very cozy and only the rate is somehow what it seems the disadvantage in using it.

pawanjain

hero member

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Nothing lasts forever

In this case you can try using Localbitcoins as many people use it these days. There are many sellers in this website who offer different prices and you can select the best price among them and get the coins delivered to your address. Be sure not to trade with new sellers as there are a few people who scam others. Trade with people with positive trust as they are genuine sellers. You can also find a seller with the same city and try to make the deal with him in person.

devarajdp

newbie

Activity: 42

Merit: 0

The "price" is usually based on the most recent trade in the specified exchange pair (e.g. LTC BTC). The most recent trade is simply two other participants on the exchange, the seller, and the buyer. The seller (also called a "maker") offered to sell a particular coin at a particular price in a particular currency (e.g. to sell some amount of LTC for a specific price in BTC). The buyer (also called a "taker") offered to buy a particular coin at a particular price in a particular currency. The trade happens by the exchange when a buyer and seller's orders are matched.

Can you make money in these price differences between multiple currencies? It is possible, this is called an arbitrage. However, don't forget that the transfers usually take a bit of time and the arbitrage opportunity may have passed by the time you've made some trades because rest assured others are looking for these arbitrage opportunities as well. Additionally, there are usually fees for each trade that eat into any earnings you might be making.

Also, this isn't that different from Forex Arbitrage trading in fiat currency markets so it is a well-studied discipline and we can certainly learn from the practices established there.

linkHA

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Quote from: Fire26 on January 07, 2018, 07:40:33 PM

Hey guys,

Just want to say first that I'm not too experienced in crypto trading (haven't made any transactions yet), and hopefully I'm posting this in the right section on these forums

Anyways - long story short, I'm running into an issue with completing the payment method verification process on my Coinbase account, and in the meantime I'm wondering if I can get any recommendations on any other reputable/safe sources where I can easily convert USD into Bitcoin or Ethereum. The only other one I've really heard of is Changelly, but there seems to be mixed reviews on it so I'm not too sure if that would be the best option when converting USD to crypto. Not sure if there are many other options besides Coinbase, but again I'm only a beginner so I could be totally wrong on this Huh

Any help or recommendations would be greatly appreciated regarding this issue - thanks in advance!

(also, not sure if it's relevant but I wouldn't be converting really large amounts of USD yet as I would want to start off with generally smaller transactions, if that offers any help to the question)

You can trade on the exchange that supports USDT and then replace the dollar with USDT.

A.Delaney

member

Activity: 266

Merit: 13

https://www.coinmama.com/

You can try coinmama. If you can get registered. Bittrex and Binance have closed registration.

Fire26

newbie

Activity: 4

Merit: 0

Quote from: boyjackyou on January 07, 2018, 08:24:57 PM

I recommend using KuCoin exchange its getting more popular these days,you only need 2fa verification and you can start trading no more ID verification process.

Is it possible to exchange USD for BTC/ETH on KuCoin? I already have an account there but I don't see an option like that anywhere on the site.

boyjackyou

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

I recommend using KuCoin exchange its getting more popular these days,you only need 2fa verification and you can start trading no more ID verification process.

Fire26

newbie

Activity: 4

Merit: 0

Quote from: Saimabutterfly on January 07, 2018, 07:48:42 PM

If you mean USDT then you can do it in bitttrex and many other exchanges but make your account fully verified before moving your funds in bittrex.

Well I'm just trying to make a simple deposit from my debit card (US dollars) directly into BTC or ETH. Correct me if I'm wrong but don't you first need to transfer USD to USDT then from there convert the USDT into other coins/tokens?

Saimabutterfly

full member

Activity: 257

Merit: 100

If you mean USDT then you can do it in bitttrex and many other exchanges but make your account fully verified before moving your funds in bittrex.

Fire26

newbie

Activity: 4

Merit: 0

Hey guys,

Just want to say first that I'm not too experienced in crypto trading (haven't made any transactions yet), and hopefully I'm posting this in the right section on these forums

Anyways - long story short, I'm running into an issue with completing the payment method verification process on my Coinbase account, and in the meantime I'm wondering if I can get any recommendations on any other reputable/safe sources where I can easily convert USD into Bitcoin or Ethereum. The only other one I've really heard of is Changelly, but there seems to be mixed reviews on it so I'm not too sure if that would be the best option when converting USD to crypto. Not sure if there are many other options besides Coinbase, but again I'm only a beginner so I could be totally wrong on this Huh

Any help or recommendations would be greatly appreciated regarding this issue - thanks in advance!

(also, not sure if it's relevant but I wouldn't be converting really large amounts of USD yet as I would want to start off with generally smaller transactions, if that offers any help to the question)

Topic: Question about USD Conversion into BTC/ETH (Read 128 times)