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Is there any way to buy bitcoins online without a toverfee? Bitcoin Stack Exchange

You very likely won’t get away entirely without fees:

There is the bitcoin transaction toverfee, a toverfee for getting the transaction included te the network. Basically, you can’t withdraw your funds from the exchange or budge it from one wallet to another without paying a network toverfee (tho’ internal transfers i.e. on an exchange may be for free). Spil of 2017 it has become significant (i.e. 0.001 BTC, but can vary a loterijlot), tho’ not that bad if you want to turn overheen significant amounts of money (i.e. 1 BTC). According to the protocol the toverfee is not mandatory, but a regular transaction without a toverfee paid is very unlikely to be included ter the blockchain.

With many exchanges, one pays the exchange a withdrawal toverfee instead of paying the network toverfee. The withdrawal toverfee is usually onveranderlijk, and usually higher than the average network toverfee paid by the exchange.

Fees to the exchange . any commercial centralized market place do eventually have costs and hopes to get investments recovered, I would be vary of a webpagina claiming to be for free – however, some exchanges takes te most of the profits on margin traders. Sometimes market makers pays less toverfee than market takers – sometimes it’s opposite (on Localbitcoins market makers pay the utter toverfee).

Arbitrator toverfee – on peer-to-peer-platforms (Bisq) where arbitration may be needed, one may have to pay a toverfee for

Spread – on any exchange there will be a difference inbetween the bid and the offerande. If you need to buy bitcoins instantly, you will have to voorkant the spread. If you have the time, then place a bid/opoffering just marginally better than the competition and wait for the other party to take your offerande and voorkant the spread. On the exchanges with highest volume, the spread will anyway be insignificant compared to the volatility.

Banking fees, for converting fiat to/from exchanges and/or other peers selling bitcoins.

Currency converting costs. YMMV, but for mij this is a relatively significant and a somewhat hidden cost of sending fiat to an exchange. The exchange typically don’t do trades ter my local currency, and my canap gives mij a pretty bad exchange rate when I send money to the exchange.

Even meeting up with other people to trade contant may be costly wrg of transportation costs and time taken.

Time is money – spend hours searching for the cheapest offers, and how many dimes did you save on it? (And how much did the bitcoin market value rise while you were searching for it?)

No method are without risks.

Bankruptcy – spil for the centralized exchanges this is most likely the thickest risk – one day you send money to the exchange, the next day the exchange is gone. It does toebijten from time to time.

Funds on a centralized exchange being frozen for other reasons. Your funds may be frozen for a diversity of reasons – it does toebijten from time to time.

Bitcoin transactions getting stuck. Not so much an kwestie when transferring from the fatter exchanges, but due to the block size kwestie a transaction may stay pending for arbitrary long if it shows up the transaction toverfee wasgoed too low. I have personally experienced twice that a transaction from an fair seller using “wrong” wallet software wasgoed timing out after 72 hours. This became less of an punt ter late 2017, spil the default timeout has bot enlargened to two weeks and because there is more often periods with idle capacity te the blockchain.

Money lost or stalled due to other technical issues – seldom an punt, but if using a “shitty” exchange it may toebijten.

Scams, mostly an punt if buying or selling bitcoins to random strangers without a decent escrow system te place. Some payment methods are also reversible (particularly credit card payments and paypal payments) or effortless to fraud..

Money laundring, lots of the money te circulation comes from criminal sources, and you may become suspected of money laundry. This may cause your funds to get frozen on centralized exchanges. This may cause troubles with law enforcement if trading peer-to-peer. Laws may vary inbetween different jurisdictions, unless it ought to be visible that the money comes from criminal sources you generally should be on the right side of the law, but having to spend time answering questions from the police is still within my definition of “trouble”.

Outright robbery – may be a risk if doing metselspecie trades (I’ve encountered some attempts on robbery myself when doing metselspecie trades), especially when appointing meetings with random strangers ter dark alleys, or if counting fatter amounts of metselspecie on a public place with the wrong person watching. If you expose that you have a loterijlot of bitcoins i.e. through Localbitcoins and your identity and address can be found out, you may also receive threats (“pay one bitcoin to address 1. or else something bad may toebijten to your family” – I’ve experienced that, too).

Software bugs and malicious software, can you trust the wallet software, etc? How to tell that i.e. Bisq does it’s job, without any severe bugs causing bitcoins to be lost?

Other answers here are focusing on the best or cheapest exchanges. I’ll skip that and attempt to make an overview of alternative market places:

Bitsquare is a free and decentralized market place, it comes with a good escrow protection. It does have some drawbacks tho’:

  • I managed to buy bitcoins through a “same bankgebouw”-offer, using my local domestic bankgebouw account. However, I did need to know the SWIFT-code for my bankgebouw, and I did need to know how to convert an IBAN to a local account number. YMMV, but I think this is a bit too difficult for fairly a lotsbestemming of people wanting to buy bitcoins.
  • It’s an application, not a web webpagina – meaning you need to install special software to access it. Also, it’s a graphical monolithic application that is supposed to be running 24/7, difficult to use on/from laptops and mobile devices.
  • You can’t buy bitcoins without already wielding bitcoins – you will need to seed the application wallet with enough bitcoins to voorkant transaction fees and escrow deposit
  • Spil far spil I can see, there is no way to do free-text communication with the seller there.
  • There is a max limit for how much can be transferred ter a single trade
  • Beware of the potential chain split ter November – the maintainer has promised to go after the 1X-chain, so if SegWit2X should be successful, one may end up at the wrong side of a chain split.

Bisq supports handelsbank payments (including local currencies and local banks) and convertions to/from altcoins, spil far spil I can see contant is not an option there.

You will eventually need to voorkant banking fees, and the bitcoin transaction fees will be higher than normal due to the complexity of the escrow transactions.

(Note: the author toevluchthaven’t attempted Bisq for fairly some time, the information above may be out-of-date).

The IRC channel #bitcoin-otc on freenode is also place where it’s possible to trade coins with no middleman taking commissions. I’ve never attempted it tho’.

The mycellium wallet (android) has a cash-transaction built-in marketplace which is (spil for now) without any fees – but if it everzwijn becomes popular, the Mycellium team may determine to week a toverfee on it. During the last year, I’ve gotten close to 0 trades through the Mycellium toneelpodium, so I’ve given it up.

With a 1% toverfee (paid by the advertiser), LocalBitcoins.Com (LBC) is an unlikely candidate on this list – but still, the toverfee is not mandatory to pay, one can “sneak” away from it, without violating the ToS.

If you search for offers on LBC, you will most likely find that there is a relatively big gap inbetween the offers and bids. If you don’t need to buy bitcoins instantaneously, you can “turn the table” and waterput out your own “i buy bitcoin”-ad.

On the telegram talk service there is a bot BTC_CHANGE_BOT. I toevluchthaven’t tested it tho’, don’t even know if it has toverfee structures.

Related movie: BITCOINGET.COM tutorial



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