Cryptocurrency Where Art Thou?

Z

ziiyo

Member
Joined
Jul 29, 2010
Messages
23
Good Morning All,

I have been reading lots of posts regarding Bitcoin, Ethereum and so forth. I have a Luno wallet - have bitcoin and understand that I can get some Etherum through using the Jaxx wallet workaround.

The problem is all the conversions and moving from crypto to crypto causes you to take a knock even at the same base price.

I would assume putting your money wisely into the smaller cryptcurrencies is where the potential is to make a large return, if another bubble occurs. Putting money into Bitcoin or Ethereum at this point (even though there will be more bubbles into the future) may not be the best move.

Question: I see Luno is banking on Bitcoin ONLY. Are there any other reliable wallets or ways to get smaller named cryptocurrencies through SA means and not a whole work around where the knock is heavy due to all the moving and conversions.

-Thanks
 
Thor

Thor

Honorary Master
Joined
Jun 5, 2014
Messages
44,236
ziiyo said:
Good Morning All,

I have been reading lots of posts regarding Bitcoin, Ethereum and so forth. I have a Luno wallet - have bitcoin and understand that I can get some Etherum through using the Jaxx wallet workaround.

The problem is all the conversions and moving from crypto to crypto causes you to take a knock even at the same base price.

I would assume putting your money wisely into the smaller cryptcurrencies is where the potential is to make a large return, if another bubble occurs. Putting money into Bitcoin or Ethereum at this point (even though there will be more bubbles into the future) may not be the best move.

Question: I see Luno is banking on Bitcoin ONLY. Are there any other reliable wallets or ways to get smaller named cryptocurrencies through SA means and not a whole work around where the knock is heavy due to all the moving and conversions.

-Thanks
Click to expand...
Right now you need to buy bitcoins if you want to buy other cryptocurreincies.
 
Z

ziiyo

Member
Joined
Jul 29, 2010
Messages
23
@Thor187 , I get that. Are you saying that there are no other options in S.A hence the need to buy Bitcoin and then move them to other wallets that offer this service?

-Thanks
 
R

RickyGC

Well-Known Member
Joined
Oct 16, 2013
Messages
208
This is the first I ever see/read about ICE3X...

Two questions.

Are they legit?

Why is their website so ugly?
 
F

fran13

Active Member
Joined
Jun 21, 2009
Messages
41
According to their website they'll be rolling out zar/eth today. Any of you using them?
 
Thor

Thor

Honorary Master
Joined
Jun 5, 2014
Messages
44,236
ziiyo said:
@Thor187 , I get that. Are you saying that there are no other options in S.A hence the need to buy Bitcoin and then move them to other wallets that offer this service?

-Thanks
Click to expand...
Correct, although Ice exchange opened ethereum today so you can buy it directly with zar.
 
Z

Zenni

New Member
Joined
Jun 1, 2017
Messages
4
Hi guys. Been buying BTC from Luno and then moving it to Exodus however I realised there might be a cheaper way but I'm not sure.

Basically what's stopping me from buying ETH or BTC or anything else using something like changelly.com?
I posed this to Luno but haven't gotten an answer yet, maybe someone here can help.

They're accepting Mastercard and Visa so I assume us South Africans can buy from there. Wouldn't that work out much cheaper than Luno where the prices are nowhere near the actual BTC price?
 
Thor

Thor

Honorary Master
Joined
Jun 5, 2014
Messages
44,236
Zenni said:
Hi guys. Been buying BTC from Luno and then moving it to Exodus however I realised there might be a cheaper way but I'm not sure.

Basically what's stopping me from buying ETH or BTC or anything else using something like changelly.com?
I posed this to Luno but haven't gotten an answer yet, maybe someone here can help.

They're accepting Mastercard and Visa so I assume us South Africans can buy from there. Wouldn't that work out much cheaper than Luno where the prices are nowhere near the actual BTC price?
Click to expand...
Yes you can try that. I haven't done it yet because my Capitec card requires me to walk into a branch.
 
Z

ziiyo

Member
Joined
Jul 29, 2010
Messages
23
Zenni said:
Hi guys. Been buying BTC from Luno and then moving it to Exodus however I realised there might be a cheaper way but I'm not sure.

Basically what's stopping me from buying ETH or BTC or anything else using something like changelly.com?
I posed this to Luno but haven't gotten an answer yet, maybe someone here can help.

They're accepting Mastercard and Visa so I assume us South Africans can buy from there. Wouldn't that work out much cheaper than Luno where the prices are nowhere near the actual BTC price?
Click to expand...

There is not an 'actual' BTC price. Depends on the markets. If you could buy directly with MC or Visa and then send to SA. You could make a nice little initial profit per BTC.

At the moment I am still on Luno, may try ICE3X if they have now opened to ETH as I didn't want to change to other wallets abroad and incur fees and different market prices. You end up taking a knock initially unless the prices bubble again.

Make sure you check fees. Even if they allow MC or Visa get a handle on what you are being charges as this all cuts away from your initial investment.

I am more worried about the pending Fork on August the 1st and Luno security. Arg the joys of anticipation!
 
Z

Zenni

New Member
Joined
Jun 1, 2017
Messages
4
ziiyo said:
There is not an 'actual' BTC price. Depends on the markets. If you could buy directly with MC or Visa and then send to SA. You could make a nice little initial profit per BTC.

At the moment I am still on Luno, may try ICE3X if they have now opened to ETH as I didn't want to change to other wallets abroad and incur fees and different market prices. You end up taking a knock initially unless the prices bubble again.

Make sure you check fees. Even if they allow MC or Visa get a handle on what you are being charges as this all cuts away from your initial investment.

I am more worried about the pending Fork on August the 1st and Luno security. Arg the joys of anticipation!
Click to expand...

Thanks, I'll let you know how much all the costs are after I've tried doing this with a small amount. I'll do it over the weekend.

I've also got concerns about the potential impact of the fork. I think best way forward there is to see what impact that had on ETH and ETC when that fork happened last year to make an informed prediction.
 
R

RickyGC

Well-Known Member
Joined
Oct 16, 2013
Messages
208
Can't use changelly with VISA right now :(

Dear customers, USD and EUR are temporarily out of list. We'll return them back as soon as possible. Sorry for the inconvenience caused.
Click to expand...
 
Z

ziiyo

Member
Joined
Jul 29, 2010
Messages
23
Zenni said:
Thanks, I'll let you know how much all the costs are after I've tried doing this with a small amount. I'll do it over the weekend.

I've also got concerns about the potential impact of the fork. I think best way forward there is to see what impact that had on ETH and ETC when that fork happened last year to make an informed prediction.
Click to expand...

Perfect thanks.

I have added a Jaxx wallet to my profile. I am just holding out on changing until I know what is happening. I am just too pedantic and dont want to loose a good couple thousands due to exchange and other market related things.

please could you document your whole process with fees ;)

-Cheers
 
Z

Zenni

New Member
Joined
Jun 1, 2017
Messages
4
ziiyo said:
Perfect thanks.

I have added a Jaxx wallet to my profile. I am just holding out on changing until I know what is happening. I am just too pedantic and dont want to loose a good couple thousands due to exchange and other market related things.

please could you document your whole process with fees ;)

-Cheers
Click to expand...

That's a good idea. I'll create a document with all fees involved once their EUR and USD buying options come back.

Luno actually answered my email and said they have no problem with us doing this and even wrote a blog post about arbitrage and the possible costs involved. Here it is : https://www.luno.com/blog/en/post/bitcoin-price-different-different-countries
 
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