bitcoincambodia.com review

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas » Sun Dec 01, 2019 4:19 pm

Kammekor wrote:
Nicolas wrote:
Wed Nov 27, 2019 10:16 am
Phnom Poon wrote:only because recipients can cash it out
Yes. Crypto currencies are used as payment or money transfer. You don’t send your USD anymore, you just transfer your USD into bitcoins, transfer the bitcoins and the receiver transfer back into his own currency. All this for a ridiculously low fee.
Cash in and cash out under 20 minutes.



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USD to Bitcoin for a ridiculous low fee? I don't know any exchange charging less than 1%. Typical bank transfer fee is 0.1%. So much for the convenience of 'being your own bank'.
I think my fees are in the 0.14% - 0.26% area, but can go down to 0% for high volumes (not my case).
How much would cost a $200 bank transfer from USA or Europe to Thailand?


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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas » Sun Dec 01, 2019 4:30 pm

I had to pay $499 for something this morning by bitcoins. The wallet tu wallet transfer cost my something like 30 cents (or less?), it was done, received and confirmed under 10min. And I don’t even know in which country I sent my money because it’s irrelevant with digital currency.


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Kammekor
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Re: bitcoincambodia.com review

Post by Kammekor » Sun Dec 01, 2019 4:36 pm

Nicolas wrote:
Sun Dec 01, 2019 4:19 pm
Kammekor wrote:
Nicolas wrote:
Wed Nov 27, 2019 10:16 am
Phnom Poon wrote:only because recipients can cash it out
Yes. Crypto currencies are used as payment or money transfer. You don’t send your USD anymore, you just transfer your USD into bitcoins, transfer the bitcoins and the receiver transfer back into his own currency. All this for a ridiculously low fee.
Cash in and cash out under 20 minutes.



Sent from my iPhone using Tapatalk
USD to Bitcoin for a ridiculous low fee? I don't know any exchange charging less than 1%. Typical bank transfer fee is 0.1%. So much for the convenience of 'being your own bank'.
I think my fees are in the 0.14% - 0.26% area, but can go down to 0% for high volumes (not my case).
How much would cost a $200 bank transfer from USA or Europe to Thailand?


Sent from my iPhone using Tapatalk
Oh yes, there are examples where a BTC transfer turns out out cheaper than a money transfer, but that only applies to relatively small amounts transferred cross continent including a payment in currency one while receiving currency two.
Most of the transfers in BTC are more expensive because you always have to make a exchange, making the exchanges happy. Not even talking about the volatility of BTC making your purchase 5% cheaper or more expensive overnight.

I'd like to know the name of the exchange charging a total fee of just 0.14% including the spread. I will use them in the future.
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Kammekor
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Re: bitcoincambodia.com review

Post by Kammekor » Sun Dec 01, 2019 4:39 pm

Nicolas wrote:
Sun Dec 01, 2019 4:30 pm
I had to pay $499 for something this morning by bitcoins. The wallet tu wallet transfer cost my something like 30 cents (or less?), it was done, received and confirmed under 10min. And I don’t even know in which country I sent my money because it’s irrelevant with digital currency.


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Not talking about the wallet to wallet transfer. To transfer BTC, you have to own BTC. That's where the costs are, not in the transfer itself.
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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas » Sun Dec 01, 2019 4:44 pm

I’m using Kraken but I’m pretty sure there are cheaper places.


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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas » Sun Dec 01, 2019 4:57 pm

Last time my total fees were 0.12%. I guess fees are lower after a cumulated volume of transactions. When I started it was something around 0.14% to 0.26%



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Kammekor
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Re: bitcoincambodia.com review

Post by Kammekor » Sun Dec 01, 2019 5:02 pm

Nicolas wrote:
Sun Dec 01, 2019 4:57 pm
Last time my total fees were 0.12%. I guess fees are lower after a cumulated volume of transactions. When I started it was something around 0.14% to 0.26%



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To get a 0.12% trading fee you must have bought quite some bitcoin last month.....

Their spread is indeed pretty low. In fact more or less negligible.
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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas » Sun Dec 01, 2019 5:08 pm

Kammekor wrote:
Nicolas wrote:
Sun Dec 01, 2019 4:57 pm
Last time my total fees were 0.12%. I guess fees are lower after a cumulated volume of transactions. When I started it was something around 0.14% to 0.26%



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To get a 0.12% trading fee you must have bought quite some bitcoin last month.....

Their spread is indeed pretty low. In fact more or less negligible.
I really don’t know, I’m just starting, so basically buying and selling back, and playing around with the 5x leverage for shorts and longs. I guess the same small amount of money back and forth counts as volume. I’m just learning through daily mistakes Image


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Re: bitcoincambodia.com review

Post by SternAAlbifrons » Mon Dec 02, 2019 5:02 am

Nicolas wrote:
Sun Dec 01, 2019 3:52 pm
Anyway I’m totally convinced it’s not too late to invest.
Nic, i get the value of Bitcoin for quick transactions.
But "invest"?

Don't you think that holding on to them for any period should more correctly be described as "gambling"?
It seems to well and truly cross that undefined, but still very real, line.

'Nothing against gambling, i occasionally have a tiny plunge on something myself.
But i would be deluding myself if i called it investing. And possibly deluding others less knowledgable.
That's how dumb people get suckered into loosing their lifesavings- honestly believing they are "investing" because somebody "smart" told them it was.
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Re: bitcoincambodia.com review

Post by SternAAlbifrons » Mon Dec 02, 2019 5:16 am

^^^ - i suppose it ultimately depends on personal definitions.

I regard catching a tuk yuk from the airport as "investing" in a community that has paid off big-time for me in many ways.
You regard it as gambling with your life.

chuckle
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