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Manic! 04-20-2018 10:24 AM

Quote:

Originally Posted by Ferra (Post 8899163)
Not really into these cryptocurrency thing, but I got curious and google coinsquare..
https://coinsquare.com/funding_options
They charge 2.5% to fund your account (10% if you use credit card) and another 2% to withdraw money!??? :fulloffuck:

Is this a normal thing for crytocurrency? Off the bat you already lose 4.5% from the funding & withdrawal fees.
I can't imagine any stock brokerage charging fees like that to deposit and withdraw money.
Hell, most of them will actually give you back money or gift if you deposit a large amounts of funds with them.

This just seems a bit retarded. I thought crytocurrency suppose to be decentralize, no fee, no middle man, etc lol

This is for https://www.quadrigacx.com

Flexepin Voucher Min $20CAD - Max $500CAD $2,500CAD Instant 2.5% required
INTERAC® Online Min $50CAD - Max $2,000CAD $4,000CAD Instant 1.5%, Min $5CAD required
Bank Wire Min $50,000CAD - Max $500,000CAD $500,000CAD Within 5 Business Days 1% required
Crypto Capital Min $500CAD - Max $500,000CAD $500,000CAD Next Business Day Free required
QCX Voucher Min $5CAD - Max $5,000CAD $5,000CAD Instant Free --


The fees are from sending money from your bank to the exchange and getting money from the exchange to your bank. Everytime you use a bank card or credit card the store gets charged also bank wires, money orders and e transfers are not free.

Ferra 04-20-2018 12:03 PM

Quote:

Originally Posted by Manic! (Post 8899186)
This is for https://www.quadrigacx.com

Flexepin Voucher Min $20CAD - Max $500CAD $2,500CAD Instant 2.5% required
INTERAC® Online Min $50CAD - Max $2,000CAD $4,000CAD Instant 1.5%, Min $5CAD required
Bank Wire Min $50,000CAD - Max $500,000CAD $500,000CAD Within 5 Business Days 1% required
Crypto Capital Min $500CAD - Max $500,000CAD $500,000CAD Next Business Day Free required
QCX Voucher Min $5CAD - Max $5,000CAD $5,000CAD Instant Free --


The fees are from sending money from your bank to the exchange and getting money from the exchange to your bank. Everytime you use a bank card or credit card the store gets charged also bank wires, money orders and e transfers are not free.

Not really, the recipient of E-Transfer does not to pay any fee, merchants who accept interac pays about $0.10 per transaction
(If they are charging 2-3% to accept credit card, that's perfectly fair since merchants are charged 1.5-2.5%, but they are charging 10% to accept credit cards..)

Why there is a 2% fee just to accept money is beyond me... (And then another fee to withdraw money later)
The brokerage should make their money from the trading transaction fee...not from funding and withdrawal.

These cryto brokerage seem like a very shitty casino where they give you $98 in casino chips for every $100 cash, then when you want to cash out your they give you $96 cash for their $98 casino chips lol

ray666 04-20-2018 01:42 PM

They only take it when you are willing to give it to them. For most people, it's worth it for them to pay the fees. If you really wanted to, there's always other ways to pay little or no fees.

UnknownJinX 04-20-2018 01:48 PM

Quote:

Originally Posted by Ferra (Post 8899206)
Not really, the recipient of E-Transfer does not to pay any fee, merchants who accept interac pays about $0.10 per transaction
(If they are charging 2-3% to accept credit card, that's perfectly fair since merchants are charged 1.5-2.5%, but they are charging 10% to accept credit cards..)

Why there is a 2% fee just to accept money is beyond me... (And then another fee to withdraw money later)
The brokerage should make their money from the trading transaction fee...not from funding and withdrawal.

These cryto brokerage seem like a very shitty casino where they give you $98 in casino chips for every $100 cash, then when you want to cash out your they give you $96 cash for their $98 casino chips lol

Okay, but how much can you win(or lose) in a casino? You can make/lose a lot of money that the transaction fee is pretty trivial.

Again, the swings are usually great enough that 4% is nothing.

Manic! 04-20-2018 02:11 PM

Quote:

Originally Posted by UnknownJinX (Post 8899230)
Okay, but how much can you win(or lose) in a casino? You can make/lose a lot of money that the transaction fee is pretty trivial.

Again, the swings are usually great enough that 4% is nothing.

I havn't taken any money out. I have a few some trades where I have bought and sold but have never transferred money to my bank. I am not gambling I am supporting new currency's that I hope one day will be used around the world. Last time I went to Europe I had to take 3 different types of currency plus Canadian. If Crypto was excepted everywhere I would just take my phone.

UnknownJinX 04-20-2018 03:01 PM

For now, I will still treat crypto more or less like an asset.

Like mentioned before, the fluctuations cryptos can see make it unsuitable as a common currency.

The liquidity of cryptocurrency is also not there yet.

Who knows, maybe it will change in the future. Just maybe.

ime2006 04-20-2018 03:11 PM

Holy....bullllll run.


This morning BTC went up from 8350 to 8550
Then just now,
BTC went up from 8500 to 8950 in less then 20 mins.

SkinnyPupp 04-20-2018 04:26 PM

Still waiting for ETH to go back to what it was when I bought it so I can convert it back to BTC. Never buying an altcoin again FailFish

ime2006 04-20-2018 05:53 PM

Quote:

Originally Posted by SkinnyPupp (Post 8899257)
Still waiting for ETH to go back to what it was when I bought it so I can convert it back to BTC. Never buying an altcoin again FailFish

mmmmm....But ETH also had around 25% pump since Apr 14th.
Apr 14th at 489
Today at 4PM, it reached 617

And weird thing happened on my NiceHash mining numbers these week.
I was getting only 0.0045 BTC a day before this week.

Now, all the sudden, it pumps to 0.0056 BTC a day.
That is almost 30% more.

SkinnyPupp 04-20-2018 06:07 PM

Quote:

Originally Posted by ime2006 (Post 8899266)
mmmmm....But ETH also had around 25% pump since Apr 14th.
Apr 14th at 489
Today at 4PM, it reached 617

And weird thing happened on my NiceHash mining numbers these week.
I was getting only 0.0045 BTC a day before this week.

Now, all the sudden, it pumps to 0.0056 BTC a day.
That is almost 30% more.

ETH still has a way to go before it reaches the $700 I bought it at (yup literally right at the top of the giant red candle on March 14)

BTC is practically already recovered from that day now

Plus I believe in BTC, not ETH or anything else. I'm not doing this to "play the lottery" and make a bunch of money. I got ETH because I thought it would be easier for everyone. And this was also before lightning dropped BTC transaction rates to negligible amounts.

ime2006 04-20-2018 06:30 PM

Quote:

Originally Posted by SkinnyPupp (Post 8899268)
ETH still has a way to go before it reaches the $700 I bought it at (yup literally right at the top of the giant red candle on March 14)

BTC is practically already recovered from that day now

Plus I believe in BTC, not ETH or anything else. I'm not doing this to "play the lottery" and make a bunch of money. I got ETH because I thought it would be easier for everyone. And this was also before lightning dropped BTC transaction rates to negligible amounts.

oh....yea, i hate when that happens. Bought it at high point, and got locked for few days or weeks waiting for it to raise back up.

ETH easier for everyone as in ?

SkinnyPupp 04-20-2018 06:37 PM

Quote:

Originally Posted by ime2006 (Post 8899274)
oh....yea, i hate when that happens. Bought it at high point, and got locked for few days or weeks waiting for it to raise back up.

ETH easier for everyone as in ?

Mostly transfer fees.. Also I was looking to buy crypto here via paypal, and since everyone mines ETH I figured that would be easier all around.

Either way a very kind member has been helping me out and letting me buy BTC instead. I really appreciate that!

UnknownJinX 04-20-2018 08:26 PM

Some outlets are not letting people deposit ETH... Have to exchange it into BTC before I can take it out.

ime2006 04-21-2018 10:45 AM

I was checking on buying price on BTC
CoinSquare buying price at 11318 CAD
QuadrigaCX buying price is at 11179 CAD

That's quite a bit difference!!!!!!!!

Manic! 04-21-2018 10:48 AM

Quote:

Originally Posted by ime2006 (Post 8899360)
I was checking on buying price on BTC
CoinSquare buying price at 11318 CAD
QuadrigaCX buying price is at 11179 CAD

That's quite a bit difference!!!!!!!!

I have found quad to have the best price in Canada with EZBTC.ca having the worst price

ime2006 04-21-2018 11:15 AM

Quote:

Originally Posted by Manic! (Post 8899361)
I have found quad to have the best price in Canada with EZBTC.ca having the worst price

So, exchange companies is making money on selling price and transaction fees.

No wonder coinSquare had whole page ads on Vancouver Sun.

Lol


I also checked ezbtc.ca
Their price is same as coinsquare.
Which makes coinsquare also the most expensive too.
Oh man......

Manic! 04-21-2018 12:24 PM

Quote:

Originally Posted by ime2006 (Post 8899365)
So, exchange companies is making money on selling price and transaction fees.

No wonder coinSquare had whole page ads on Vancouver Sun.

Lol


I also checked ezbtc.ca
Their price is same as coinsquare.
Which makes coinsquare also the most expensive too.
Oh man......

Check ezbtc prices on alt coins like eth. That's where they really jack prices up.

RickyTan3 04-21-2018 04:54 PM

please dont compare prices on ezbtc, when I was looking to purchase BTC. their office is a shared office in random building in pender st, more like a hippy joint. No service and customer service at all.

Manic! 04-21-2018 07:46 PM


ime2006 04-22-2018 11:43 AM

Heard that BTC or whole CC might drop 5-10% in a day or two.

Just pre-caution.


If not, it might have bullrun up to 9500

RickyTan3 04-22-2018 11:54 AM

Quote:

Originally Posted by ime2006 (Post 8899446)
Heard that BTC or whole CC might drop 5-10% in a day or two.

Just pre-caution.


If not, it might have bullrun up to 9500

I like your analysis

It might go up or might go down? BE CAREFUL!!!

Gerbs 04-22-2018 12:54 PM

It might be stagnant :ahwow:

moldex 04-22-2018 01:03 PM

Quote:

Originally Posted by Ferra (Post 8899206)
Not really, the recipient of E-Transfer does not to pay any fee, merchants who accept interac pays about $0.10 per transaction
(If they are charging 2-3% to accept credit card, that's perfectly fair since merchants are charged 1.5-2.5%, but they are charging 10% to accept credit cards..)

Why there is a 2% fee just to accept money is beyond me... (And then another fee to withdraw money later)
The brokerage should make their money from the trading transaction fee...not from funding and withdrawal.

These cryto brokerage seem like a very shitty casino where they give you $98 in casino chips for every $100 cash, then when you want to cash out your they give you $96 cash for their $98 casino chips lol

Of course with a regular brokerage there is no way you would pay those kind of fees if your yearly return is 5-10%, however, during a bull run in crypto, you're talking about paying a 2% fee today for a 20% return tomorrow. This is a completely different game.

ime2006 04-23-2018 03:20 PM

Making some serious money on BCH!!!!!!!

Does anyone know why BCH goes this crazy ??

Blueboy222 04-23-2018 03:54 PM

BUY BITCOIN NOW! 100K PER COIN INCOMING :fullofwin:


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