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

[deepblueli]

Most of us moved to Gemini for our entry from and exit to FIAT.

Hi, I read from pennywise post that we can remit into Gemini exchange using DBS remit, that has ~0.6-0.7% spread.

However, how do you guys withdraw money from exchange?
Transferring from Gemini back to SG account it seems like there is a fixed USD7 + SGD10 charge according to pennywise post also.

 

[kechiki]

Hi, I read from pennywise post that we can remit into Gemini exchange using DBS remit, that has ~0.6-0.7% spread.

However, how do you guys withdraw money from exchange?
Transferring from Gemini back to SG account it seems like there is a fixed USD7 + SGD10 charge according to pennywise post also.

Hello,

Yes I used gemini to transfer USD out. Just that I am still unsure if it's USD7 or 7%, but it seems to be a fixed fee rather than percentage

 

[bgrades]

anyone buying ucoin? do u think it's scam or legit?
tonite offering is 0.88$ per coin

 

[alexchia01]

anyone buying ucoin? do u think it's scam or legit?
tonite offering is 0.88$ per coin

When they talk about ICO and reaching Bitcoin status within 2 years, which Bitcoin took 15 years to reach, you better be careful.

This thing is less than a month old and how the hell they come up with 0.88$ per coin when the exchange is not up yet? Who set the price?

 

[puteh83]

Hello,

Yes I used gemini to transfer USD out. Just that I am still unsure if it's USD7 or 7%, but it seems to be a fixed fee rather than percentage

Does Gemini works like xfers?

Sent from Xiaomi MI 5 using GAGT

 

[deepblueli]

Does Gemini works like xfers?

Sent from Xiaomi MI 5 using GAGT

Not really, it is directly deposit to the Gemini exchange and it's in USD, so you use DBS remit to transfer to their USA account.

 

[puteh83]

Not really, it is directly deposit to the Gemini exchange and it's in USD, so you use DBS remit to transfer to their USA account.

No limits like xfers?

Sent from Xiaomi MI 5 using GAGT

 

[heroesfight]

I am evaluating which bitcoin exchange to use: Gemini, CoinHako, Coinbase.
Currently leaning towards Gemini due to low costs.

Gemini: 0% remittance fees + DBS FX + 0.25% trading fees
Coinhako – 0.9% trading fees (use code “COINGECKO to reduce it to 0.7%) + FX
Coinbase - 3.99%

But more crucially, can someone highlight the Deposit and Withdrawal process for these exchanges? I have heard that deposit is typically quite seamless (either DBS remit or xfer to USD), but the withdrawal process may not necessarily be efficient nor reliable.

Also, can anyone share what type of wallet you are using and why?

Thank you.

 

[puteh83]

I am evaluating which bitcoin exchange to use: Gemini, CoinHako, Coinbase.
Currently leaning towards Gemini due to low costs.

Gemini: 0% remittance fees + DBS FX + 0.25% trading fees
Coinhako – 0.9% trading fees (use code “COINGECKO to reduce it to 0.7%) + FX
Coinbase - 3.99%

But more crucially, can someone highlight the Deposit and Withdrawal process for these exchanges? I have heard that deposit is typically quite seamless (either DBS remit or xfer to USD), but the withdrawal process may not necessarily be efficient nor reliable.

Also, can anyone share what type of wallet you are using and why?

Thank you.

Coin base not wallet?

Sent from Xiaomi MI 5 using GAGT

 

[poring24]

how long does the remittance from sg take to reflect in gemini account?

 

[jellybanana]

I buy bitcoin using Coinbase (xfers route), slightly annoying to set up but everything works after you get past the hurdles. Credit/debit 4% fee is madness!

Then I transfer to Exodus (wallet) or to Bittrex (exchange) if I need to trade.

Coinbase and Coinhako are NOT exchanges. They are good to help people get into cryptos but you should never use it to day trade.

 

[heroesfight]

I buy bitcoin using Coinbase (xfers route), slightly annoying to set up but everything works after you get past the hurdles. Credit/debit 4% fee is madness!

Then I transfer to Exodus (wallet) or to Bittrex (exchange) if I need to trade.

Coinbase and Coinhako are NOT exchanges. They are good to help people get into cryptos but you should never use it to day trade.

I see. Thanks for the clarification.

I suppose Coinbase, Coinhako and Gemini are avenues at which people trade BTC with fiat.
Would you recommend that I buy bitcoin using Coinbase, Coinhako, or Gemini?
I am concerned with costs of transaction, currency conversion, reliability and efficiency.
I understand that Coinbase has the highest charges, but if the exit trading from BTC to fiat is reliable and fast, then I might go for that option.

 

[ChaoMonkey]

DBS Remit in the morning, you'll get it by night time.

Gemini is based in US, so there's a time difference.

how long does the remittance from sg take to reflect in gemini account?

 

[ChaoMonkey]

Like what Jellybanana said, Coinbase and Coinhako are not Exchanges.

There's a debate that's always ongoing

For a beginner, Coinbase/Gemini as a temporary beginner wallet is fine. There's a lot cases whereby crypto beginners lost or forget their own private wallet and lose access to their Coins. Storing them inside Coinbase/Gemini, gives the beginner a chance to seek Customer Service.

But the number 1 rules in crypto is always, always.. keep your crypto in your own private wallet. That means a wallet that you have control over the private key. If you are not actively trading, send them to your wallet. All coins inside Exchanges are not yours until you send them your own wallet.


My advice for 100% beginner is to sign up with https://www.myetherwallet.com/ (always check the URL for fake sites) to get an address and get yourself familiarised with how a paper wallet works before sending any Coins in.

Sign up with the recommended exchanges like Bittrex/Gemini/Binance etc and just understand all the various functions. It's free anyway. Build up your confidence and you can start exploring deeper

 

[MCheng007]

I am a newbie so please take my answer with a big pinch of salt. I am myself researching on ways to invest into Bitcoin, and am sharing the little that I have "found out" but not verified personally yet.

From what I read, Coinbase allows one to trade at a fee of 1.5% if USD is transferred from a US bank account, or 3.99% if one is buying using credit card.

However, GDAX exchange, which is owned by Coinbase, charges only either 0.3% or no transaction fee at all, depending on how one places the order. GDAX has a lot more functionality and is worth exploring.

However, I am not sure if one can buy Bitcoin on GDAX using a S$ or USD from a Singapore bank account. Am looking for the answer to this myself.

Source:
Search for "Don't use Coinbase, use GDAX instead to ELIMINATE FEES! The difference between Coinbase & GDAX" on youtube

 

[ChaoMonkey]

Here's the thing about Coinbase.

Getting into crypto is pretty daunting for a beginner.

Coinbase is the best site/app starter kit. It's easy to use, cash in and cash out is easy. Storing your Coins are pretty safe there. And they their App is good.

Like you mentioned, If you have a Coinbase account, you automatically have a GDAX (Exchange by Coinbase) account. It helps a beginner a lots.

What we advise is to Cash in and Cash out using Coinbase, but you don't trade using it. You use GDAX to trade. So you're right about the fees.

Once you are familiarised with how Crypto works, you can explore better options with better fees and better security.

The reason why most of us are recommending Gemini is cause of the local banks made it difficult for Fintech companies to open an account. Coinbase and Coinhako need Xfer before you can buy anything. If it takes too many steps to buy BTC/ETH, most beginners will just give up.

===

Oh, to answer your question. We cannot trade Crypto/FIAT pairing at the moment, we can only trade BTC/ETH, BTC/LTC......

 

[taquito]

which exchange charges the lowest fee when cashing out ??

 

[MCheng007]

Buying Bitcoin using USD on Luno

i'm using Luno. If you use the trade instead of buy/sell function there are no charges.

Hi. Is it possible to buy Bitcoin using USD (directly from a foreign currency account) instead of SGD?

Thanks.

 

[MCheng007]

Here's the thing about Coinbase.

Getting into crypto is pretty daunting for a beginner.

Coinbase is the best site/app starter kit. It's easy to use, cash in and cash out is easy. Storing your Coins are pretty safe there. And they their App is good.

Like you mentioned, If you have a Coinbase account, you automatically have a GDAX (Exchange by Coinbase) account. It helps a beginner a lots.

What we advise is to Cash in and Cash out using Coinbase, but you don't trade using it. You use GDAX to trade. So you're right about the fees.

Once you are familiarised with how Crypto works, you can explore better options with better fees and better security.

The reason why most of us are recommending Gemini is cause of the local banks made it difficult for Fintech companies to open an account. Coinbase and Coinhako need Xfer before you can buy anything. If it takes too many steps to buy BTC/ETH, most beginners will just give up.

===

Oh, to answer your question. We cannot trade Crypto/FIAT pairing at the moment, we can only trade BTC/ETH, BTC/LTC......

Thanks for this useful reply, ChaoMonkey.

Need a bit of clarification...
"we cannot trade Crypto/FIAT paring": does that mean we got to buy Bitcoin somewhere else (in that case, where?) before we can exchange them with other coins on Gemini?

If I wish to buy Bitcoin using USD from S'pore-based Standard Chartered account, where will be a good place to do it?

Thanks!

 

[w4rdsg]

Thanks for this useful reply, ChaoMonkey.

Need a bit of clarification...
"we cannot trade Crypto/FIAT paring": does that mean we got to buy Bitcoin somewhere else (in that case, where?) before we can exchange them with other coins on Gemini?

If I wish to buy Bitcoin using USD from S'pore-based Standard Chartered account, where will be a good place to do it?

Thanks!

I use Gemini. Send USD by wire and buy BTC or ETH on Gemini.
If you want to get into Alt coins send your crypto from Gemini to another exchange. Suggest not using Bitfinex unless you understand the Tether controversy.
If you are planning to buy and HODL move your crypto to your own wallet. Please don’t leave your life savings on an exchange. Please don’t gamble your life savings on crypto either!