I’ll look into tonight when I get home from work and keep you guys posted.
I’ve not transferred any coins using the website, but it appears those fees are not too unreasonable considering how much gains we could have potentially made. e.g. if we bought LTC for $60 a week ago and it rises to $90 the next week and we pay a bill, they have a surcharge of ~8%, obviously this is much higher than credit card surcharges of ~2%, but we’d still be up. I think Peter explained fees as the cost of doing business.
However, I probably would not use this service anytime soon, I haven’t accumulated enough BTC and LTC to start spending it this soon. Maybe in 10 years when we’re already living on the Moon and a credit card bill or electricity bill would cost a few satoshis or lites/photons (whatever Chuck called them in his recent interview).
nice work looking into it and trial it. I hadn’t yet use it but my work mate used it and said he was happy with it…Its possible he never looked into as much as you have. I don’t know what market they use to get the LTC/AUD conversion…maybe its slow/to fast or something? only needs to be fraction different higher or lower to be off by a few dollars I guess.
Thx baz for sharing this, i was looking forward to try out and do comparison, but u have save everyone alot of troubles. I know they have to make sime money but 8% is a bit steep.
I buy from Coinbase or sell my ETH and ZCash that I mine via Nanopool.
I use Poleniex, Kraken, Bittrex, Bitfinex, Cryptopia.
To get AU Dollars back in my account I send Bitcoin or Ethereum to my Independent Reserve account then bank transfer it into my Australian bank account after selling on the market.
I’m a Perth based trader and can happily say I have set myself up for life already because of a 200 coin imvestment almost 10 years ago.
Happy to share advise with anyone.
Good luck and buy buy buy I say.
I just performed another check.
The LROS prices are 10.5% above the present value of LTC, 8% above the present value of BTC and 11.3% above the present value of Ethereum.
Ok cool. so that’s how they get around the *no fes a little checky…
Seems to be. I did receive the $30 i sent to my bank on the same day which is a plus in their favour. Hopefully in the future when the market calms itself their rates may improve.
the fact that something like this exists in Australia is great imo, hopefully more like it pop up.
No, everyone I’ve looked at isn’t delivering until mid-late sept…
Great for trading and can easily withdraw for aussies to their bank accounts.
You and I are a rare breed, we like and do both mining and trading, its a combo of geek and hard nosed business sense.
welcome coinrocks. Theres a few who use coinspot here, some love it more than others lol
Right here in Forrestfield !
was using coinbase
for some reason not letting me buy more bitcoin
now using bitstamp
Just trying to get rid of the credit fees of 4 per cent !
Don’t my forget your bank will likely also be charging you a conversion fee so it’s going to be 5+%
I just saw this on BTC Markets, they are having a vote on potential future coins. I’ve cast my vote for NEO. Check it out.
Hey there, I use COINSPOT and their fees are ordinary at best , but if you buy and hold, no prob with that. Also you can sell one stock for another which garners a 1% fee which I’m ok with.ie sell neo for iota or omg, 1 %!. Or Any other coin that they have. Also they have an affiliate program that will offset costs if you recruit others. My link is https://www.coinspot.com.au?affiliate=PTH9Z feel free to use this on sign up and we all may save some fees…cheers and happy trading from Adelaide…
I have an account with CoinSpot already. I stopped using them a while ago due to their inflated prices at that time. I’m not sure sure if that is still the case these days. BTW, I don’t think the Pub allows Affiliate links here.
Oh ok, just saying how I see it. Either way forget all the other coins if you buy at least 1000 EOS tokens at the best price you can find, I am convinced that you will get a minimum of 100 times what you paid for them , prolly a lot more . EOS will be a $100 to $1000 coin in the years to come, mark my words, dan larimer is on a mission and he never fails when his name is on the line. He has started 12 months behind ethereum and will overtake them within 18 months of launching …