Anyone here buy bitcoin? (do not advertise/post referrals/emails)

evilgod08

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Thanks. I'll check Luno out.

I also came across this blog: https://www.bestbitcoinexchange.io/. Rank # 1 is CoinBase. I went to the coinbase site, and they also support SG customers. Will browse and check this site more.

ya i think they are one of the bigger players but their charges was 1+ % i think. Luno is having promo for SG that's why zero fees for trading
 
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ya i think they are one of the bigger players but their charges was 1+ % i think. Luno is having promo for SG that's why zero fees for trading

I actually have some bitcoins and I want to sell it to either USD or SGD at this time. Would Luno be a good platform for this?

BTW, I can't find Coinbase fees in their help section.
 

havetheveryfun

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Thanks. I'll check Luno out.

I also came across this blog: https://www.bestbitcoinexchange.io/. Rank # 1 is CoinBase. I went to the coinbase site, and they also support SG customers. Will browse and check this site more.

The thing about those sites there is that it is difficult for you to deal in coins and you may lose a bit to wire fees and exchange rates.

That's why you use sites like Coinhako and Luno, I haven't used Luno before but it seems to be a Singapore company so it should be the same as Coinhako - you can directly use FAST bank transfer to top up your account and then buy the coins using the funds.

Thanks for your reply. Frankly, I find establishing bitcoin as a mainstream currency is still a long way to go. Buying and selling still isn't so easy, and includes the constant worry of how reliable and secure the providers are to park your money with them and trade.

I will take a look at Coinhako. Also, I read about itBit. Thanks.

yeah of course, personally don't think bitcoin will ever become a mainstream currency unless some president or big superpower endorse it.

bitcoin exchanges and wallets can disappear overnight too as they are not really regulated yet.

but buying and selling is pretty easy if you use any of the Singapore or asia sites, just bank transfer here and there only and then wait for a few days. if you use sites like coinbase, you still have to do international wire transfer (which you may not be able to do through ibanking), etc.
 

evilgod08

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I actually have some bitcoins and I want to sell it to either USD or SGD at this time. Would Luno be a good platform for this?

BTW, I can't find Coinbase fees in their help section.

selling in SGD should be no problem....

i think the currency is tied to your location so not sure if it allows 1 acct to be maintained with 2 currencies. i have not tried.
 
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greenarrow_23

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Thanks.

Bro havetheveryfun is correct. For Coinbase, I just realised their funding method is via xfers, which I only heard now. From what I understand, xfers is an intermediary to your bank account, so in addition to coinbase buy/sell fees of 1.49%, they will also charge you a fee.
This is not true. Xfers does not charge you anything. It is a Singapore company as well. I am a customer of Coinbase too.

Sent from the island using GAGT
 

cokiee

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Hi! Just curious - those of you who buy bitcoins, what is your main motivation? Anonymity in payment, or as a hedge, or to invest?

The second and third seems a bit volatile to serve their purposes, but I honestly don't know much so would like to seek your views :)

Sent from Xiaomi MI 3W using GAGT
 

Hyphos

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Those using Coinbase, how long does the fund transfer take? I did a FAST transfer to my xfers account yesterday night but I've yet to receive funds. Coinbase hasn't replied my email as well, should I call up my bank?
 

greenarrow_23

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Those using Coinbase, how long does the fund transfer take? I did a FAST transfer to my xfers account yesterday night but I've yet to receive funds. Coinbase hasn't replied my email as well, should I call up my bank?
Did you put your mobile number under remarks when doing your bank transfer? If all is well, it could usually take up to a day for the transfer to go through.

Sent from the island using GAGT
 

humph

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Coinbase lost over $1k of my money and instead of fixing the issue, they closed my account with no explanation.

I'm treating Coinbase as a fraudulent company at this point.

Be warned.
 

havetheveryfun

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Coinbase lost over $1k of my money and instead of fixing the issue, they closed my account with no explanation.

I'm treating Coinbase as a fraudulent company at this point.

Be warned.

wow really ... guess we have to be wary of these sites too and not keep money in it for too long
 

humph

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I transfer ETH in just to sell them, and never store anything in their account for long, but what was supposed to be an instant sell with immediate cash credit into my Xfers account a week ago turned into "transaction completed" with no credit. So Coinbase took my ETH without paying me and after many delaying tactics (various emails saying "we are looking into it" with no action) from Coinbase they finally closed my account with zero explanation.

Googling the issue I realized many people globally suffered losses at Coinbase in one form or another all around this time, including some from Singapore.

Xfers gave no warning to others about Coinbase despite my emailing Xfers support when it happened to me, so in my opinion Xfers is liable as an accessory.

I will be trying to contact various online media to see which of them are interested to pick up this story to help warn people.

If anyone else had similar issues with Coinbase please feel free to pm me.
 

havetheveryfun

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I transfer ETH in just to sell them, and never store anything in their account for long, but what was supposed to be an instant sell with immediate cash credit into my Xfers account a week ago turned into "transaction completed" with no credit. So Coinbase took my ETH without paying me and after many delaying tactics (various emails saying "we are looking into it" with no action) from Coinbase they finally closed my account with zero explanation.

Googling the issue I realized many people globally suffered losses at Coinbase in one form or another all around this time, including some from Singapore.

Xfers gave no warning to others about Coinbase despite my emailing Xfers support when it happened to me, so in my opinion Xfers is liable as an accessory.

I will be trying to contact various online media to see which of them are interested to pick up this story to help warn people.

If anyone else had similar issues with Coinbase please feel free to pm me.

it might also be a problem with Xfers instead of Coinbase.. that's why I prefer those where you can directly transfer into their account.
 
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