Bitcoin Thread

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Thanks guys. Going with Luno from now on..
Anybody had issues with Standard bank when it comes to crypto? I read some horror stories here that FNB terminates accounts if they detect crypto transactions.
 
I have issues with my email address and luno.. So my question please if I may...

I intent to hodl my btc on the exchange, either in just my name or split between myself and my wife to split "risk".

I don't know the insides or history etc, so this is a very difficult decision as I don't want to potentially loose the little I have in there... Would you go through the cost to move the btc's from Altcointrader to Luno?

I guess nowhere is safe and even the bigger ones can fold, but would you rather let them lay in luno or altcointrader, please?
 
s898 said:
I thought the local exchange such as Luno etc had a higher rate for BTC than what's shown in Binance but I was wrong. Binance was showing a lower rate than what they would charge when you actually buy. Mind sharing which local exchange you use?
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If you don't have USD readily available on international exchanges then paying the 5% premium or sometimes as low as 2% premium on local exchange like luno or VALR is way more affordable than paying international card processing fee + FX fee + whatever other fee to get your funds on the exchange that usually scales towards 8-10% in fees.

I am still amazed that you somehow only paid 2.5% roughly on that binance card purchase if that is the correct totals.
 
Sensorei said:
Luno has around a 2.5-3.5% premium anyway. In USD you paid a 2.5% premium so that would be fine if you didn't also pay a forex conversion fee to buy the $'s. But when you cash out locally you get ±3% more in R than you would in $'s though so...
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Looking at what he bought and what he got it's more like 4%. But still I'd rather go with a local exchange and know what I get.
 
s898 said:
Thanks guys. Going with Luno from now on..
Anybody had issues with Standard bank when it comes to crypto? I read some horror stories here that FNB terminates accounts if they detect crypto transactions.
Click to expand...
Std bank is good all local exchanges use them
 
John Tempus said:
If you don't have USD readily available on international exchanges then paying the 5% premium or sometimes as low as 2% premium on local exchange like luno or VALR is way more affordable than paying international card processing fee + FX fee + whatever other fee to get your funds on the exchange that usually scales towards 8-10% in fees.

I am still amazed that you somehow only paid 2.5% roughly on that binance card purchase if that is the correct totals.
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It's probably a lot higher than that. I see they took a fee of R9.50 on top of the higher exchange rate they gave me.
 
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there you go. $10,00 fee on top of the higher exchange rate.
 
John Tempus said:
Did you pay with a virtual card denominated in USD or in ZAR ? Cause if it wasn't USD remember you also paid an extra 3% or even 4% in FX fee on top of that transaction fee total.
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I paid with a virtual card in USD. I’ve signed up with VALR now, so I guess I don’t have to worry about using a virtual card now. Btw, VALR verification was almost instant, still waiting on LUNO to get verified.
 
s898 said:
Thanks guys. Going with Luno from now on..
Anybody had issues with Standard bank when it comes to crypto? I read some horror stories here that FNB terminates accounts if they detect crypto transactions.
Click to expand...
I have a Standard Bank account. Strangely, it happened twice when I transfer funds to Luno's Standard Bank account, I get a call from Standard Bank . I then have to do a security check over the phone cause there is potential "fraudulent activity" on my account.
 
Diesel44 said:
I have a Standard Bank account. Strangely, it happened twice when I transfer funds to Luno's Standard Bank account, I get a call from Standard Bank . I then have to do a security check over the phone cause there is potential "fraudulent activity" on my account.
Click to expand...
I got that call when I went on spending sprees back in the day when I had money. I think the system flags it when your spending patterns are different from the norm. I'm ok with this.
 
Price feels like it's closing in here. Up or down what's it gonna be.

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