Relative Newbie: What exchange 2 use for relatively substantial purchase of btc

Lauda

legendary

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Quote from: isnottheword on January 12, 2017, 01:41:48 PM

thanks to you both. I'm euro based - so will register with bitstamp and maybe kraken. Is there much of a difference in terms of the commissions charged/pricing offered?

You can see the Bitstamp fees here, and the Kraken fees here.

Quote from: isnottheword on January 12, 2017, 01:41:48 PM

Is there a thread on here speculating on the direction btc pricing will take? (I appreciate that even if there is, there's likely to be a variance of opinions and that I can't take that as financial advice...albeit I wouldn't mind reading through it all the same).

This whole section is for speculating the Bitcoin price: https://bitcointalk.org/index.php?board=57.0

isnottheword

newbie

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thanks to you both. I'm euro based - so will register with bitstamp and maybe kraken. Is there much of a difference in terms of the commissions charged/pricing offered?

Is there a thread on here speculating on the direction btc pricing will take? (I appreciate that even if there is, there's likely to be a variance of opinions and that I can't take that as financial advice...albeit I wouldn't mind reading through it all the same).

odolvlobo

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The risk of losing money and bitcoins stored in an account (such as on an exchange) is relatively high, though it differs greatly depending on the site. Research the site first to determine the level of risk. For example, some sites, such as Coinbase, have some amounts of insurance.

It is important to avoid storing money and bitcoins in an account because of this risk; however, if you use an exchange to buy or sell, then you cannot avoid it. It is smarter to reduce your risk by keeping the money and bitcoins in the account only while you are trading.

It is probably smarter to buy in small amounts to reduce your risk, but that would be too inconvenient for me, and I already reduce the risk by keeping the money and bitcoins on the exchange for as short a time as possible.

Lauda

legendary

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Terminated.

Quote from: isnottheword on January 12, 2017, 12:25:25 PM

Which exchange is likely to offer the best rates? Should I register with a couple?

You can see a list of current exchange rates here and here.

Quote from: isnottheword on January 12, 2017, 12:25:25 PM

How do I protect myself from the dangers of using an exchange? i.e. I know not to use a wallet provided by an exchange.

The standard security practices that anyone using a computer should know are sufficient. Also watch out for phishing email and whatnot.

It is best to register onto a known/good exchange depending on your region. For example, I'd suggest Gemini if you're in the US and Bitstamp if you're in the EU.

isnottheword

newbie

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As per the thread title, I'm veering towards arriving at a decision to buy some bitcoin. It may be a modest some to most but it's substantial for me.

Which exchange is likely to offer the best rates? Should I register with a couple?

How do I protect myself from the dangers of using an exchange? i.e. I know not to use a wallet provided by an exchange. However, should I buy in increments - so that I don't have a lot of FIAT on account at a given time (just in case I'm unlucky enough to get caught at that particular moment with the exchange collapsing)?

Topic: Relative Newbie: What exchange 2 use for relatively substantial purchase of btc (Read 225 times)