Bitcoin Thread

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I have some bitcoin on Luna but I see the price difference between Luno and Binance is roughly R 4000. Has anyone transferred BTC from Luna to Binance and then withdrawn into your bank account ?
 
L-Dog said:
I have some bitcoin on Luna but I see the price difference between Luno and Binance is roughly R 4000. Has anyone transferred BTC from Luna to Binance and then withdrawn into your bank account ?
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Wouldn't it be the other way round? South African exchanges trade with a premium of around 2%. So you should get more cashing out locally than internationally. It only makes sense if you can purchase internationally and then transfer and cash out locally.
 
Praemon said:
Wouldn't it be the other way round? South African exchanges trade with a premium of around 2%. So you should get more cashing out locally than internationally. It only makes sense if you can purchase internationally and then transfer and cash out locally.
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Not sure just checked the btc and eth pair to ZAR on luno and binance and binance was much higher on both pairs
 
In view of the state of crypto companies, can any of you experience folks help me in deciding between Luno and Binance to buy btc now? Thanks very much.

I am a bit concerned by the media reports on Binance and its general governance.
 
Wary GOM said:
In view of the state of crypto companies, can any of you experience folks help me in deciding between Luno and Binance to buy btc now? Thanks very much.

I am a bit concerned by the media reports on Binance and its general governance.
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I think you answered your own question in the last paragraph.

They are pretty damn sketchy.
 
Wary GOM said:
In view of the state of crypto companies, can any of you experience folks help me in deciding between Luno and Binance to buy btc now? Thanks very much.

I am a bit concerned by the media reports on Binance and its general governance.
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Buy from luno but please send to a reliable wallet,the FTX fiasco might cause Luno to even halt withdrawals if the sister companies like genesis and greyscale are struggling,genesis in particular ...
 
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doodlesZHS said:
Buy from luno but please send to a reliable wallet,the FTX fiasco might cause Luno to even halt withdrawals if the sister companies like genesis and greyscale are struggling,genesis in particular ...
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They have nothing to do with each other.
 
doodlesZHS said:
Buy from luno but please send to a reliable wallet,the FTX fiasco might cause Luno to even halt withdrawals if the sister companies like genesis and greyscale are struggling,genesis in particular ...
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Thanks. I am storing on a cold wallet.
 
doodlesZHS said:
Do they not all fall under Digital Currency Group,are South africans'funds/crypto in Luno protected if DCG would go down ,can you elaborate ???
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Yes they operate completely independently of each other.

DCG is like an investment conglomerate, they can’t go down. The companies underneath them can go down individually.

If Genesis goes down nothing happens to other DCG companies like Luno.

Luno’s holdings are sitting under Genesis or any other DCG company if that’s how you think it works.

The only thing that had any relation to Genesis was the Savings wallet and as Luno has already confirmed those funds are secured on their own books so you can withdraw happily. The only thing you can’t do at present is add more to the savings wallet because Genesis has halted new contracts.
 
The contagion ripples from FTX collapse (which is just the latest and to date biggest collapse) are spreading into the crypto financial services sector. The interconnections are really hard to see when trying to do my own due diligence. I therefore can only consider buying bitcoin and holding in a cold wallet and trading ETH cfd's.
 
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