Fee schedule – Bitstamp

0.0148 BTC fee for a Bitstamp withdrawal. How is it sustainable? /r/Bitcoin

0.0148 BTC fee for a Bitstamp withdrawal. How is it sustainable? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitstamp soon to implement withdrawal fees for bitcoin.

Was having problems with withdrawals from bitstamp taking ages to happen and show up on the blockchain.
Got this response from support:
Please be aware that requesting many small value Bitcoin withdrawals may trigger our anti-spam protection and may cause your withdrawals to be delayed. To fix this issue you can cancel all your pending withdrawal requests and submit a single larger request merging your requests into one.
Currently there is no other solution to avoid delays however we plan to scrap our anti-spam system in favor of a withdrawal fee after which we will again be able to process any withdrawal requests in a timely manner. We will post an announcement when this implemented.
Best regards, Benedikt Potisek
submitted by robodialer to Bitcoin [link] [comments]

[uncensored-r/Bitcoin] [Q] Does Binance cover the fee to withdraw to an external wallet like GDAX or Bitstamp?

The following post by masbtc is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7kzgrt
The original post's content was as follows:
title, Binance doesn't require all the verification for a quick exchange so I'm just wondering about this.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

If you complain about btc fees: Just had to pay several hundred bucks because I went over a certain withdrawal limit at my bank and the transaction I did on monday is still not at Bitstamp. Fuck this I want a bank that has a lightning node running /r/Bitcoin

If you complain about btc fees: Just had to pay several hundred bucks because I went over a certain withdrawal limit at my bank and the transaction I did on monday is still not at Bitstamp. Fuck this I want a bank that has a lightning node running /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

02-01 00:43 - 'Exchanges have 0.25% fees. And Ripple at 0 fees. / What would be the incentive of selling here? / I just don't get it. / I'm on Bitstamp, maybe I am just spoiled. / I use SEPA for deposit and withdrawal.' by /u/Star_Pilgrim removed from /r/Bitcoin within 1-11min

'''
Exchanges have 0.25% fees. And Ripple at 0 fees.
What would be the incentive of selling here?
I just don't get it.
I'm on Bitstamp, maybe I am just spoiled.
I use SEPA for deposit and withdrawal.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: Star_Pilgrim
submitted by removalbot to removalbot [link] [comments]

[Q] Does Binance cover the fee to withdraw to an external wallet like GDAX or Bitstamp? /r/Bitcoin

[Q] Does Binance cover the fee to withdraw to an external wallet like GDAX or Bitstamp? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Hidden fees on USD withdrawals from Bitstamp /r/Bitcoin

Hidden fees on USD withdrawals from Bitstamp /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

#DeleteCoinbase is trending again! JOIN US!

#DeleteCoinbase is trending again! JOIN US! submitted by BitcoinJake09 to Bitcoin [link] [comments]

What is Bitcoin Cash and some exchanges to try out!

Bitcoin Cash (BCH) came about in August 2017 after a hard fork and a split in the Bitcoin blockchain. Bitcoin Cash is a direct result of the constant debates and many opinions about the future of Bitcoin’s scalability and mass adoption.

Bitcoin vs. Bitcoin Cash

Bitcoin’s blockchain has grown exponentially in recent times. This means that many more users are using the cryptocurrency, which is slowing down the network.
The limited Bitcoin block size of 1 MB means that blocks are filling up quickly, resulting in a long queue of unconfirmed transactions. As a result, at peak times, transactions have become slow and expensive.
Bitcoin cash, on the other hand, was initially created with an 8MB block, which was later on increased in size to 32MB. This change allows for more transactions to be processed in each block mined.
Many see this as a step forward in terms of how best to scale the network.
Bitcoin Cash opposers remain adamant that it’s simply a short-term fix that doesn’t solve the problem in the long run. Also, they claim there’s no implementation of ideas such as Segwit to help effectively break transactions down into smaller, more manageable pieces.
Bitcoin Cash (BCH), Sometimes referred to as Bcash, is a fork of Bitcoin (BTC). When a fork occurs on a Blockchain, the currency is basically duplicated.
This means that anyone with Bitcoins in his possession at the time the fork occurred, got credited with the same amount of Bitcoin Cash.

Buying Bitcoin Cash in 3 Simple Steps

Step 1: Get a Bitcoin Cash Wallet

Before you can buy Bitcoin Cash, you’ll need a Bitcoin Cash wallet to store it in. Hardware wallets that support Bitcoin Cash include industry leaders Ledger and TREZOR.
Both Ledger and TREZOR provide functions for you to use Bitcoin Cash as you would any other cryptocurrency. Both have also introduced the ability to claim your funds if you already owned Bitcoin at the time of the Bitcoin Cash hard fork.
Additionally, there are a variety of software wallets you can use to store Bitcoin Cash as well.
Exodus provides a great user experience with a seamless coin exchange service known as Shapeshift built in.
Edge is a mobile wallet for iOS and Android that supports multiple cryptocurrencies including Bitcoin Cash. It also has a variety of features allowing you to buy cryptocurrencies and exchange them from within the app.
Electron Cash is a clone of the awesome Electrum wallet for Bitcoin. If you’re used to Electrum, then you’ll have no problem jumping on board with its sister technology.
Other wallets that support BCH include Keepkey, BTC.com, Bitpay, and Coinomi. You can view all available wallets on the official Bitcoin Cash website.
Once you have your wallet, you will need your Bitcoin Cash address. It’s a long string of letters and numbers that start with either a “1” or a “3” — similar to normal Bitcoin addresses.
Since many people got confused and started sending Bitcoins to Bitcoin Cash wallets and vice versa, a new format was invented for Bitcoin Cash. The format, called “Cash Address” is 42 characters long and starts with a “p” or a “q”. Here’s an example:
qpm2qsznhks23z7629mms6s4cwef74vcwvy22gdx6a
Keep in mind that Cash Addresses are just a representation of original Bitcoin Cash addresses. This means that the same address can be represented in two different ways (normal format or Cash Address format).
Not all wallets support Cash address format.

Step 2: Find a Bitcoin Cash Exchange

Most Bitcoin exchanges will also allow you to buy Bitcoin Cash, here are top ones around.
Buy Bitcoin Cash Through eToro
eToro allows users from around the world to buy and sell Bitcoin Cash with a variety of payment methods.
eToro is more aimed towards investing in BCH for making a profit in fiat currency (i.e. Dollars, Euros, etc.) rather than actually using it. That being said, eToro does give you access to your coins and allows you to send coins from eToro to other people.
If you use eToro for investment only, you don’t actually need a Bitcoin Cash wallet as you won’t be withdrawing the coins.
*75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. CFDs are not offered to US users. Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
Buy Bitcoin Cash Through Coinmama
Coinmama, one of the oldest exchanges around, allows you to buy Bitcoin Cash with a credit card, debit card or SEPA transfer. Coinmama accepts users from almost all countries around the world.
Buy Bitcoin Cash Through CEX.io
CEX.IO, based in London, is a trusted, experienced name in the industry, having been around since 2013. You can choose from a selection of cryptocurrencies on the site, including Bitcoin Cash.
The exchange has a brokerage service (easier to use, more expensive) and a trading platform (cheaper but more complex).CEX accepts credit cards, debit cards, wire transfers and SEPA.
Buy Bitcoin Cash Through Coinbase
Coinbase is a reputable Bitcoin exchange that supplies a variety of other services including a wallet, a trading platform (Coinbase Pro) and a Bitcoin debit card.
If you’re a beginner, it’s probably best to use the brokerage service which is a bit more expensive, but easier to use. Advanced users can use Coinbase Pro to buy Bitcoin Cash with lower fees.
Coinbase accepts debit cards and wire transfers.
Buy Bitcoin Cash Through Bitstamp
Bitstamp, the oldest exchange around, supports the trading of BCH to Bitcoin and direct purchases with US dollars or Euros. There’s also an option to buy Bitcoin Cash with your credit card at a higher price.
If you know your way around Bitcoin trading platforms it’s best to use that service and not the credit card service since you’ll save substantially on fees.
Other options to purchase Bitcoin Cash include Bitfinex, Cryptmixer, Kraken, Poloniex, HitBTC, and more (you can view all available exchanges on Bitcoin Cash’s website).

Step 3: Transfer the BCH to your wallet

As usual, I recommend that you never leave money on an exchange.
Once you’ve finished buying your Bitcoin Cash, move it to your own wallet (the one you chose in step 1). You can then follow the status of your transaction using a Bitcoin Cash block explorer.
Once you receive three confirmations for your Bitcoin Cash, you can safely say you’ve completed the process.

Conclusion

It’s apparent that Bitcoin Cash has still not gained full acceptance by large parts of the cryptocurrency community. It still sits firmly in second place to its older brother in terms of both price and usage.
Bitcoin Cash has the advantage of being the first major split that has garnered acceptance. Most forks after it didn’t receive nearly enough attention from the community or the media.
However, with internal conflicts inside its founding team and accelerated Bitcoin development for scalability solutions, I’m not sure if there’s an actual use case for Bitcoin Cash other than price speculation.
submitted by MonishaNuij to MonMonCrypto [link] [comments]

Bob The Magic Custodian



Summary: Everyone knows that when you give your assets to someone else, they always keep them safe. If this is true for individuals, it is certainly true for businesses.
Custodians always tell the truth and manage funds properly. They won't have any interest in taking the assets as an exchange operator would. Auditors tell the truth and can't be misled. That's because organizations that are regulated are incapable of lying and don't make mistakes.

First, some background. Here is a summary of how custodians make us more secure:

Previously, we might give Alice our crypto assets to hold. There were risks:

But "no worries", Alice has a custodian named Bob. Bob is dressed in a nice suit. He knows some politicians. And he drives a Porsche. "So you have nothing to worry about!". And look at all the benefits we get:
See - all problems are solved! All we have to worry about now is:
It's pretty simple. Before we had to trust Alice. Now we only have to trust Alice, Bob, and all the ways in which they communicate. Just think of how much more secure we are!

"On top of that", Bob assures us, "we're using a special wallet structure". Bob shows Alice a diagram. "We've broken the balance up and store it in lots of smaller wallets. That way", he assures her, "a thief can't take it all at once". And he points to a historic case where a large sum was taken "because it was stored in a single wallet... how stupid".
"Very early on, we used to have all the crypto in one wallet", he said, "and then one Christmas a hacker came and took it all. We call him the Grinch. Now we individually wrap each crypto and stick it under a binary search tree. The Grinch has never been back since."

"As well", Bob continues, "even if someone were to get in, we've got insurance. It covers all thefts and even coercion, collusion, and misplaced keys - only subject to the policy terms and conditions." And with that, he pulls out a phone-book sized contract and slams it on the desk with a thud. "Yep", he continues, "we're paying top dollar for one of the best policies in the country!"
"Can I read it?' Alice asks. "Sure," Bob says, "just as soon as our legal team is done with it. They're almost through the first chapter." He pauses, then continues. "And can you believe that sales guy Mike? He has the same year Porsche as me. I mean, what are the odds?"

"Do you use multi-sig?", Alice asks. "Absolutely!" Bob replies. "All our engineers are fully trained in multi-sig. Whenever we want to set up a new wallet, we generate 2 separate keys in an air-gapped process and store them in this proprietary system here. Look, it even requires the biometric signature from one of our team members to initiate any withdrawal." He demonstrates by pressing his thumb into the display. "We use a third-party cloud validation API to match the thumbprint and authorize each withdrawal. The keys are also backed up daily to an off-site third-party."
"Wow that's really impressive," Alice says, "but what if we need access for a withdrawal outside of office hours?" "Well that's no issue", Bob says, "just send us an email, call, or text message and we always have someone on staff to help out. Just another part of our strong commitment to all our customers!"

"What about Proof of Reserve?", Alice asks. "Of course", Bob replies, "though rather than publish any blockchain addresses or signed transaction, for privacy we just do a SHA256 refactoring of the inverse hash modulus for each UTXO nonce and combine the smart contract coefficient consensus in our hyperledger lightning node. But it's really simple to use." He pushes a button and a large green checkmark appears on a screen. "See - the algorithm ran through and reserves are proven."
"Wow", Alice says, "you really know your stuff! And that is easy to use! What about fiat balances?" "Yeah, we have an auditor too", Bob replies, "Been using him for a long time so we have quite a strong relationship going! We have special books we give him every year and he's very efficient! Checks the fiat, crypto, and everything all at once!"

"We used to have a nice offline multi-sig setup we've been using without issue for the past 5 years, but I think we'll move all our funds over to your facility," Alice says. "Awesome", Bob replies, "Thanks so much! This is perfect timing too - my Porsche got a dent on it this morning. We have the paperwork right over here." "Great!", Alice replies.
And with that, Alice gets out her pen and Bob gets the contract. "Don't worry", he says, "you can take your crypto-assets back anytime you like - just subject to our cancellation policy. Our annual management fees are also super low and we don't adjust them often".

How many holes have to exist for your funds to get stolen?
Just one.

Why are we taking a powerful offline multi-sig setup, widely used globally in hundreds of different/lacking regulatory environments with 0 breaches to date, and circumventing it by a demonstrably weak third party layer? And paying a great expense to do so?
If you go through the list of breaches in the past 2 years to highly credible organizations, you go through the list of major corporate frauds (only the ones we know about), you go through the list of all the times platforms have lost funds, you go through the list of times and ways that people have lost their crypto from identity theft, hot wallet exploits, extortion, etc... and then you go through this custodian with a fine-tooth comb and truly believe they have value to add far beyond what you could, sticking your funds in a wallet (or set of wallets) they control exclusively is the absolute worst possible way to take advantage of that security.

The best way to add security for crypto-assets is to make a stronger multi-sig. With one custodian, what you are doing is giving them your cryptocurrency and hoping they're honest, competent, and flawlessly secure. It's no different than storing it on a really secure exchange. Maybe the insurance will cover you. Didn't work for Bitpay in 2015. Didn't work for Yapizon in 2017. Insurance has never paid a claim in the entire history of cryptocurrency. But maybe you'll get lucky. Maybe your exact scenario will buck the trend and be what they're willing to cover. After the large deductible and hopefully without a long and expensive court battle.

And you want to advertise this increase in risk, the lapse of judgement, an accident waiting to happen, as though it's some kind of benefit to customers ("Free institutional-grade storage for your digital assets.")? And then some people are writing to the OSC that custodians should be mandatory for all funds on every exchange platform? That this somehow will make Canadians as a whole more secure or better protected compared with standard air-gapped multi-sig? On what planet?

Most of the problems in Canada stemmed from one thing - a lack of transparency. If Canadians had known what a joke Quadriga was - it wouldn't have grown to lose $400m from hard-working Canadians from coast to coast to coast. And Gerald Cotten would be in jail, not wherever he is now (at best, rotting peacefully). EZ-BTC and mister Dave Smilie would have been a tiny little scam to his friends, not a multi-million dollar fraud. Einstein would have got their act together or been shut down BEFORE losing millions and millions more in people's funds generously donated to criminals. MapleChange wouldn't have even been a thing. And maybe we'd know a little more about CoinTradeNewNote - like how much was lost in there. Almost all of the major losses with cryptocurrency exchanges involve deception with unbacked funds.
So it's great to see transparency reports from BitBuy and ShakePay where someone independently verified the backing. The only thing we don't have is:
It's not complicated to validate cryptocurrency assets. They need to exist, they need to be spendable, and they need to cover the total balances. There are plenty of credible people and firms across the country that have the capacity to reasonably perform this validation. Having more frequent checks by different, independent, parties who publish transparent reports is far more valuable than an annual check by a single "more credible/official" party who does the exact same basic checks and may or may not publish anything. Here's an example set of requirements that could be mandated:
There are ways to structure audits such that neither crypto assets nor customer information are ever put at risk, and both can still be properly validated and publicly verifiable. There are also ways to structure audits such that they are completely reasonable for small platforms and don't inhibit innovation in any way. By making the process as reasonable as possible, we can completely eliminate any reason/excuse that an honest platform would have for not being audited. That is arguable far more important than any incremental improvement we might get from mandating "the best of the best" accountants. Right now we have nothing mandated and tons of Canadians using offshore exchanges with no oversight whatsoever.

Transparency does not prove crypto assets are safe. CoinTradeNewNote, Flexcoin ($600k), and Canadian Bitcoins ($100k) are examples where crypto-assets were breached from platforms in Canada. All of them were online wallets and used no multi-sig as far as any records show. This is consistent with what we see globally - air-gapped multi-sig wallets have an impeccable record, while other schemes tend to suffer breach after breach. We don't actually know how much CoinTrader lost because there was no visibility. Rather than publishing details of what happened, the co-founder of CoinTrader silently moved on to found another platform - the "most trusted way to buy and sell crypto" - a site that has no information whatsoever (that I could find) on the storage practices and a FAQ advising that “[t]rading cryptocurrency is completely safe” and that having your own wallet is “entirely up to you! You can certainly keep cryptocurrency, or fiat, or both, on the app.” Doesn't sound like much was learned here, which is really sad to see.
It's not that complicated or unreasonable to set up a proper hardware wallet. Multi-sig can be learned in a single course. Something the equivalent complexity of a driver's license test could prevent all the cold storage exploits we've seen to date - even globally. Platform operators have a key advantage in detecting and preventing fraud - they know their customers far better than any custodian ever would. The best job that custodians can do is to find high integrity individuals and train them to form even better wallet signatories. Rather than mandating that all platforms expose themselves to arbitrary third party risks, regulations should center around ensuring that all signatories are background-checked, properly trained, and using proper procedures. We also need to make sure that signatories are empowered with rights and responsibilities to reject and report fraud. They need to know that they can safely challenge and delay a transaction - even if it turns out they made a mistake. We need to have an environment where mistakes are brought to the surface and dealt with. Not one where firms and people feel the need to hide what happened. In addition to a knowledge-based test, an auditor can privately interview each signatory to make sure they're not in coercive situations, and we should make sure they can freely and anonymously report any issues without threat of retaliation.
A proper multi-sig has each signature held by a separate person and is governed by policies and mutual decisions instead of a hierarchy. It includes at least one redundant signature. For best results, 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.

History has demonstrated over and over again the risk of hot wallets even to highly credible organizations. Nonetheless, many platforms have hot wallets for convenience. While such losses are generally compensated by platforms without issue (for example Poloniex, Bitstamp, Bitfinex, Gatecoin, Coincheck, Bithumb, Zaif, CoinBene, Binance, Bitrue, Bitpoint, Upbit, VinDAX, and now KuCoin), the public tends to focus more on cases that didn't end well. Regardless of what systems are employed, there is always some level of risk. For that reason, most members of the public would prefer to see third party insurance.
Rather than trying to convince third party profit-seekers to provide comprehensive insurance and then relying on an expensive and slow legal system to enforce against whatever legal loopholes they manage to find each and every time something goes wrong, insurance could be run through multiple exchange operators and regulators, with the shared interest of having a reputable industry, keeping costs down, and taking care of Canadians. For example, a 4 of 7 multi-sig insurance fund held between 5 independent exchange operators and 2 regulatory bodies. All Canadian exchanges could pay premiums at a set rate based on their needed coverage, with a higher price paid for hot wallet coverage (anything not an air-gapped multi-sig cold wallet). Such a model would be much cheaper to manage, offer better coverage, and be much more reliable to payout when needed. The kind of coverage you could have under this model is unheard of. You could even create something like the CDIC to protect Canadians who get their trading accounts hacked if they can sufficiently prove the loss is legitimate. In cases of fraud, gross negligence, or insolvency, the fund can be used to pay affected users directly (utilizing the last transparent balance report in the worst case), something which private insurance would never touch. While it's recommended to have official policies for coverage, a model where members vote would fully cover edge cases. (Could be similar to the Supreme Court where justices vote based on case law.)
Such a model could fully protect all Canadians across all platforms. You can have a fiat coverage governed by legal agreements, and crypto-asset coverage governed by both multi-sig and legal agreements. It could be practical, affordable, and inclusive.

Now, we are at a crossroads. We can happily give up our freedom, our innovation, and our money. We can pay hefty expenses to auditors, lawyers, and regulators year after year (and make no mistake - this cost will grow to many millions or even billions as the industry grows - and it will be borne by all Canadians on every platform because platforms are not going to eat up these costs at a loss). We can make it nearly impossible for any new platform to enter the marketplace, forcing Canadians to use the same stagnant platforms year after year. We can centralize and consolidate the entire industry into 2 or 3 big players and have everyone else fail (possibly to heavy losses of users of those platforms). And when a flawed security model doesn't work and gets breached, we can make it even more complicated with even more people in suits making big money doing the job that blockchain was supposed to do in the first place. We can build a system which is so intertwined and dependent on big government, traditional finance, and central bankers that it's future depends entirely on that of the fiat system, of fractional banking, and of government bail-outs. If we choose this path, as history has shown us over and over again, we can not go back, save for revolution. Our children and grandchildren will still be paying the consequences of what we decided today.
Or, we can find solutions that work. We can maintain an open and innovative environment while making the adjustments we need to make to fully protect Canadian investors and cryptocurrency users, giving easy and affordable access to cryptocurrency for all Canadians on the platform of their choice, and creating an environment in which entrepreneurs and problem solvers can bring those solutions forward easily. None of the above precludes innovation in any way, or adds any unreasonable cost - and these three policies would demonstrably eliminate or resolve all 109 historic cases as studied here - that's every single case researched so far going back to 2011. It includes every loss that was studied so far not just in Canada but globally as well.
Unfortunately, finding answers is the least challenging part. Far more challenging is to get platform operators and regulators to agree on anything. My last post got no response whatsoever, and while the OSC has told me they're happy for industry feedback, I believe my opinion alone is fairly meaningless. This takes the whole community working together to solve. So please let me know your thoughts. Please take the time to upvote and share this with people. Please - let's get this solved and not leave it up to other people to do.

Facts/background/sources (skip if you like):



Thoughts?
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

Automatic DCA (Dollar Cost Averaging) on Bitstamp (link to script inside)

I use Bitstamp (EU exchange), which doesn't have a system for recurring buy orders. I really like the low trading fees (though there is a 0.0005 BTC withdrawal fee), so I want to use Bitstamp for my recurrent buy orders. I already wrote the code to immediately turn any fiat into BTC and withdraw it to any given address. At the moment, I don't have a guide on how to use it, but it's very simple and if you know Python you should be able to figure it out really quickly. A noob-friendly guide will be added to the README.md soon, and I will also make a more detailed post here on Bitcoin when the project is "done" (I will look into feature requests, etc. via the GitHub issue tracker).
Hint: You can run the script on an always-on machine (like a Raspberry Pi you can ssh into) like this: yes | python autocoin.py (piping yes skips confirmation, not sure if yes is available on Windows) and change the withdrawal address while the script is still running via python setadd.py.
KEEP IN MIND: The script is very aggressive and while running will immediately try to buy as much BTC as possible with your available fiat via instant order. It will also immediately try to withdraw all your BTC to whatever address is in the address.json file. This will happen without asking for confirmation, should you use the yes method described above.
submitted by Fittiboy to Bitcoin [link] [comments]

What’s the best exchange - I know it’s been asked b4, but I’m super NEW, and I presume the best exchanges alternate from day to day, due to public opinion, and performance.

submitted by ANIAT444 to BitcoinBeginners [link] [comments]

How can I convert BTC to GBP?

I have received bitcoin and thought I'd be able to transfer it to my bank but the wallet I'm using is strictly cryptocurrency. I'm trying to find a way to convert to GBP but everything I'm looking at has really high fees. I'm completely in over my head with this stuff and not interested in investing or anything, I'm just trying to figure out how to withdraw the funds to my bank account. Any advice??
submitted by NoJicama2 to BitcoinUK [link] [comments]

PSA: 2 days left to withdraw from Bitstamp for free

As Bitstamp did not communicate directly with clients about this (eg via email), I think it’s fair to make sure everyone knows: as per 1st of August, Bitstamp is setting higher fees for trading and withdrawing.
Especially if you have smaller amounts of crypto or fiat at Bitstamp, make sure you are aware of this.
A withdrawal fee of 0.5 mBTC is currently ‘only’ around 5$ but could soon be a lot more money just to get your bitcoin in your own wallet.
If you’re planning to get your crypto out, now might be a good time.
Bitstamp announcement: https://www.bitstamp.net/article/upcoming-changes-fee-schedule/
Edit: corrected mBTC amount
Edit 31/07: Bitstamp just changed the effective date on the website to 15 August
submitted by Peterb88 to Bitcoin [link] [comments]

Victory is Mined!

I recently had Bitcoin that got locked up because of a glitch on a CEX.IO. The only reason I'm posting this though I proved my point with the company and they allowed me to withdraw my funds they didn't admit to the glitch that caused the problem in the first place.
What happened was I tried to buy a Bitcoin quickly because my girlfriend needed it right away(otherwise I generally use bitstamp or coinbase and wait for my bank deposits). Anyway, the Bitcoin I tried to buy was too much for the amount of cash I had on the card because I forgot about their foreign exchange fee. So it was rejected but on the rejection a different credit card was listed (which I didn't notice at the time). After that starting on July 29th until today my Bitcoin has been locked up on their exchange demanding me input the erroneously added credit card in the rejection that I never owned, saw or had in my possession. I do thank them for relying me to withdraw my funds but I'm concerned that this error could happen again to other customers. So make sure you check any rejection you get from them in the future. Because as far as I can tell they're not looking into the problem seriously.
submitted by babelfishp42 to Bitcoin [link] [comments]

FAQ for Beginners

What is Bitcoin?

Bitcoin is scarce, decentralized, and global digital money that cannot be censored.

Quick Advice

  • Do not respond to strangers messaging you with investment advice or offers and read how to avoid being scammed from the posts below.
  • Do not invest in Bitcoin until you do basic research, paid off all high interest debt, and have a emergency savings account of a stable fiat currency.
  • If investing do not expect to get rich quickly. You should expect to wait at least 1-2 years before taking profits. Bitcoin is currently very volatile. In the interim spend and replace Bitcoin because its a useful currency.
  • Beginners should avoid all mining and day trading until at least very familiar with Bitcoin. Mining is very professional(You cannot efficiently mine with your computer and need to buy special ASIC machines) and most people lose money day trading.
  • Never store your Bitcoins on an exchange or web wallet. Buy your bitcoins and withdraw it to your personal wallet where you actually own them instead of IOUs. Services like Robinhood and Revoult should be avoided because you cannot withdraw or use Bitcoin.
  • Make sure you make a backup of your wallet(software holding keys to your BTC) and preferably keep it offline and physical and private. Typically 12 to 24 words you write down on paper or metal. This onetime backup will restore all your keys, addresses , and Bitcoins on a new wallet if you lose your old wallet.
  • Beginners should avoid altcoins, tokens, and ICOs at least initially until they learn about Bitcoin. Most of these are scams and you should be familiar with the basics first. Bitcoin is referred to as BTC or XBT.

Exchanges Requiring ID Verification

Bitcoin = BTC or XBT on exchanges
Exchange Buy fee* Withdraw BTC Notes
Cash App Sliding ~2.2% to 1% 0 BTC Instant Withdraw, USA only
Coinbase Debit3.99% ACH1.49% 1-4USD ~7Day hold BTC withdraw
CoinbasePro 0.5% 1-4USD ~7Day hold free ACH Deposit or €0.15 EUR SEPA fee
Gemini 1.49% to 0.25%ATrader 0 BTC 10 free BTC withdraws w/ActiveTrader
Kraken 0.16% 0.0005 BTC Deposit Fiat=USwire+5USD or SEPA free
Bitstamp 0.50% 0.0005 BTC Deposit Fiat=0 SEPA or 5% card fee
Note: Exchanges all have unique market prices and spreads so fees alone will not tell you the best rates. Best way is to directly compare the rates between exchanges. Buy fees above are for normal trading volumes. Verification and hold times can vary based upon lack of history, verification level or credit.
More exchanges per location
For a secure Decentralized Exchange (DEX) use https://bisq.network

Recommended Wallets

Best wallets for securing small amounts of BTC
electrum For Desktop and Android
Pros= Great Desktop and Android wallet with advanced functionality like coin control
Cons= UX is not as polished as some other wallets, make sure you only upgrade from official sources like play store or https://electrum.org as malicious servers or adverts can tell you to upgrade malware from other sites
https://www.youtube.com/watch?v=E4EhZg5QslI
Phoenix LN wallets for Android
Pros- Lightning network integration(as well as onchain) allowing you to spend with LN merchants for instant confirmations and much lower fees. Easiest lightning wallet to use
Cons- Lightning is still somewhat experimental and less merchants accept it.
https://phoenix.acinq.co/
https://www.youtube.com/watch?v=Cx5PK1H5OR0
Breez LN wallet for Android and IOS
https://breez.technology
https://www.youtube.com/watch?v=t_4b-y4T8bY
Pros- Lightning network integration(as well as onchain) allowing you to spend with LN merchants for instant confirmations and much lower fees
Cons- Lightning is still somewhat experimental and less merchants accept it.
Other Lightning wallets - http://lightningnetworkstores.com/wallets
Blockstream Green Wallet IOS and android wallet
Pros- Great UX, easy hardware wallet and full node integration, RBF, HW wallet support and advanced 2fa options Cons- Until single signature is released 2 of 2 multisig means that one must depend upon blockstream’s server for tx signing. Other light wallets are dependent upon other servers as well but light wallets like electrum allow you to swap servers.
https://www.youtube.com/watch?v=uO3Zi9D5b0Y
https://blockstream.com/green/
Securing Larger amounts of Bitcoin
ledger nano S wallet = ~68 USD https://shop.ledger.com/products/ledger-nano-s
https://www.youtube.com/watch?v=YI1OntWB7wc
https://www.youtube.com/watch?v=AGe2GgfkO64
trezor one wallet = ~54 USD https://shop.trezor.io
https://www.youtube.com/watch?v=pT1j_kbZBEo
Trezor Model T = ~164 USD https://shop.trezor.io
https://www.youtube.com/watch?v=i3BIo5Ac_n4
Cold Card Hardware wallet = 119.97 USD https://store.coinkite.com/store/coldcard
https://www.youtube.com/watch?v=kocEpndQcsg
https://www.youtube.com/watch?v=f8dBNrlwJ0k
Digital Bitbox 02 = 109 USD https://shiftcrypto.ch/bitbox02/
https://www.youtube.com/watch?v=tdP_7LgZw7s
https://www.youtube.com/watch?v=z7nRq2OEhiw
https://www.youtube.com/watch?v=6D4FgJo3j64
Best Advanced Bitcoin Wallet= Bitcoin Core
Pros= Great privacy and security
Cons= UX is for more experienced users, takes ~week to sync and requires ~5GB minimum disk space if prunned
https://bitcoincore.org/en/download/
Best High Privacy Bitcoin Wallet = Wasabi
Pros= Best Privacy with Chaumian CoinJoin built in
Cons= mixing coins costs more fees and for more advanced users
https://www.wasabiwallet.io/#download
https://www.youtube.com/watch?v=ECQHAzSckK0
https://www.youtube.com/watch?v=zPKpC9cRcZo&list=PLmoQ11MXEmahCG1nkbKK6DiAwVx9giJCi
https://www.youtube.com/watch?v=y8wQK-Ndl3Q&list=PLPj3KCksGbSaEmjU0sywoTYDVYYSu8LsS

Further Resources

https://www.lopp.net/bitcoin-information.html
https://www.lopp.net/lightning-information.html
https://10hoursofbitcoin.com/
http://bitcoinrabbithole.org/
https://bitcoin-resources.com
https://www.bitcoin101.club
https://21lessons.com
submitted by bitusher to BitcoinBeginners [link] [comments]

PayPal and Venmo May Add Cryptocurrency Support

The well-known and respected PayPal payment system and its Venmo mobile payment service are likely to provide the ability to buy and sell various tokens with their system tools. This innovation is expected in the next quarter.

What happened

CoinDesk talked to an unnamed, but in their opinion, reliable source. They said PayPal would add functions that will allow any member of the system to buy, sell, and even store cryptocurrency with. To provide the ability to conduct these operations, the payment system will cooperate with cryptocurrency exchanges. The exact list of these exchanges as well as the list of cryptocurrencies is unknown, but it can likely be Coinbase and Bitstamp.
At the end of 2018, Coinbase, the largest cryptocurrency exchange in the U.S., made available the option of fiat currencies withdrawal to a PayPal account without any fee.
Hunter Horsley, CEO at BitwiseInvest, believes the launch of cryptocurrencies support by PayPal and Venmo in the 3rd or 4th quarters of 2020 is quite real. In addition, he is optimistic and compares impressive PayPal figures with other close companies:

The historical change in PayPal's attitude towards blockchain and cryptocurrencies

In mid-August 2017, Bitcoin outperformed PayPal in market capitalization for the first time. At the beginning of 2018, PayPal CEO Dan Schulman declared that Bitcoin is not an effective way to transfer value. Therefore, PayPal does not intend to support Bitcoin as a payment tool on its site. At least until the moment of widespread distribution of cryptocurrencies. At the same time, he paid tribute to the blockchain: he did not exclude the use of distributed registry technology in a number of areas PayPal deals with: from real estate contracts to financial services.
In spring 2019, PayPal mentioned it had already tested the possibility for merchants to accept Bitcoin for payment, but so far the company is extremely wary of this and continues to study it.
It is noteworthy that the founder of PayPal Peter Thiel conducts active venture activities in the cryptocurrency sector. This refers to assistance to the Blockfolio project and the Harbor startup from the Founders Fund, where he is the main partner.
In spring 2020, the company placed the vacancy of a blockchain expert who would counteract financial crimes. Also, PayPal is searching for a blockchain developer for the company's research department and a technical director for crypto development.
Also, in spring 2020, PayPal CTO Sri Shivananda shared an opinion that for the success of cryptocurrencies, people must clearly understand their advantages. The client, he said, will be followed by business.
All the above-mentioned makes it possible to believe PayPal will start operations with cryptocurrencies by the fall or the end of the year.
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

Which exchange has the lowest fees? USA

Just trying to dip my toes in and buy a few hundred. I see bitstamp has a ~$5 withdrawal fee, and $7.50 wire deposit fee. anddd a .5% buyer fee. So thats $13 fees to buy $100, heck i can goto the bitcoin ATM for that prices. where are the cheap fees at?
submitted by stonksmarket to Bitcoin [link] [comments]

PSA: In light of Coinbase fiasco I'd like to point out Bitstamp has been segwit compatible since September

submitted by cenuij to Bitcoin [link] [comments]

Bitstamp: Free Bitcoin Cash Trading until 31 December

Bitstamp: Free Bitcoin Cash Trading until 31 December submitted by Egon_1 to btc [link] [comments]

I have a dream that one day we will have an honest, reliable, insured and regulated bitcoin exchange that prioritizes its customers, activates new bitcoin innovations and pushes adoption, has customer support that actually responds, doesn't crash with volume spikes and has a clean, intuitive UI.

We need innovation in the bitcoin exchange space! I'm ready for new options.
submitted by puffman123 to Bitcoin [link] [comments]

Spreading Crypto: In Search of the Killer Application

Spreading Crypto: In Search of the Killer Application
This is the second post of our Spreading Crypto series where we take a deep dive into what it’ll take to help this technology reach broader adoption.
Mick exploring the state of apps in crypto
Our previous post explored the history of protocols and how they only become widely adopted when a compelling application makes them more accessible and easier to use.
Crypto will be no different. Blockchain technology today is mostly all low-level protocols. As with the numerous protocols that came before, these new, decentralized protocols need killer applications.
So, how’s that going? Where is crypto’s killer application? What’s the state of application development within our industry? Today we’ll try to answer those questions. We’ll also take a close look at decentralized applications — as that’s where a lot of the developer energy and focus currently is. Let’s dive in.

Popular Crypto Applications

The most popular crypto applications today are exchanges like Coinbase and Binance — each with tens of millions of users. Other popular crypto exchanges include Kraken, Bitstamp, Gemini, and Bitfinex. In recent years, new derivatives platforms have emerged like FTX and Deribit.
The most popular crypto applications today are primarily focused on trading, speculation, and finance. This class of applications dwarfs all other types of applications in terms of users and growth. That’s either a sign of strong product/market fit, or we just haven’t yet discovered other good use-cases. Or a mix of both.
https://preview.redd.it/8rnxghfrdh551.png?width=1600&format=png&auto=webp&s=b3df8c3d87410f6b84432df79528ee4324daf04d
Beyond the fact that the most popular crypto applications are all used for speculation, another common thread is that they are all centralized.
A centralized application means that ultimate power and control rests with a centralized party (the company who built it). For example, if Coinbase or Binance wants to block you from withdrawing your funds for whatever reason (maybe for suspicious activity or fraud), they can do that. They have control of their servers so they have control of your funds.
Most popular applications that we all use daily are centralized (Netflix, Facebook, Youtube, etc). That’s the standard for modern, world-class applications today.

Decentralized Applications

Even though the most popular crypto applications are all centralized, most of the developer energy and focus in our industry is with decentralized applications (dApps) and non-custodial products.
These are products where only the user can touch or move funds. Not even the company or developer who built the application can access or control or stop funds from being moved. Only the user has control.
These applications allow users to truly become their own bank and have absolute control of their money.
They also allow users to perform blockchain transactions and interact directly with decentralized protocols. Some of the most popular non-custodial products include Ledger, MetaMask, and MyCrypto (#ProudInvestor).
While the benefits of this type of application are obvious (user has full control of their funds), it comes with a lot of tradeoffs. We will cover that later in this post.
https://preview.redd.it/rs6tj7vsdh551.png?width=1600&format=png&auto=webp&s=86fe5bca3a9466abab5e78c9873ce3b57609f2d2

Libertarianism + Crypto

If the most popular applications tend to be centralized (inside and out of crypto), why is so much of our community focused on building decentralized applications (dApps)? For the casual observer, that’s a reasonable, valid question.
“Not your keys, not your coins.”
This meme is endlessly repeated among longtime crypto hodlers. If you’re not in complete control of your crypto (i.e. using non-custodial wallets or dApps), then it’s not really your crypto.
Engrained in the early culture of Bitcoin has always been a strong distrust for centralized authority and power — including the too-big-to-fail government-backed financial system. In the midst of the Financial Crisis, Satoshi Nakamoto included this headline in Bitcoin’s genesis block: “Chancellor on brink of second bailout for banks.” There has always been a close connection between libertarianism & cryptocurrency.
So it’s no surprise that much of the crypto developer community is spending their time building applications that are non-custodial or decentralized. It’s part of the DNA, the soul, the essence of our community.
https://preview.redd.it/fy33zhkvdh551.png?width=1600&format=png&auto=webp&s=386c741f13e9119ecfcfffe1c781d09ce58704ed

Personal Experience

When I was at Mainframe, we built Mainframe OS — a platform that developers use to build and launch decentralized applications (dApps). I’m deeply familiar with what’s possible and what’s not in the world of dApps. I have the battle scars and gray hair to prove it. We’ve hosted panels around the various challenges. We’ve even produced videos poking fun at how complicated it is for end-users to interact with.
After having spent three years in the trenches of this non-custodial world, I no longer believe that decentralized applications are capable of bringing crypto to the masses.
While I totally understand and appreciate the ethos of self-sovereignty, independence, and liberty… I think it’s a terrible mistake that as a community we are spending most of our time in this area of application development. Decentralized applications will not take crypto to the masses.
Mainframe OS

Overwhelming Friction

The user friction that comes with decentralized applications is just too overwhelming. Let’s go through a few of the bigger points:
  1. Knowledge & Education: Most non-custodial products do not abstract away any of the blockchain complexity. In fact, they often expose more of it because the most loyal users are crypto nerds. Imagine how a normie n00b feels when she starts seeing words like seed phrases, public & private keys, gas limits, transaction fees, blockchain explorers, hex addresses, and confirmation times. There is a lot for a user to learn and become educated on. That’s friction. The learning curve on this is just too damn high.
  2. User Experience: It is currently impossible to create a smooth and performant user experience in non-custodial wallets or decentralized applications. Any interaction that requires a blockchain transaction will feel sluggish and slow. We built a messaging app on Ethereum and presented it at DevCon3 in Cancun. The technical constraints of blockchain technology were crushing to the user experience. We simply couldn’t create the real-time, modern messaging experience that users have come to expect from similar apps like Slack or WhatsApp. Until blockchains are closer in speed to web servers (which will be difficult given their decentralized nature), dApps will never be able to create the smooth user experience that the masses expect.
  3. Loss of Funds Risk: There is no “Forgot Password” functionality when storing your own crypto in a non-custodial wallet. There is no customer support agent you can ping. There is no company behind it that can make you whole if you make a mistake and lose your money. You are on your own. One wrong move and your money is all gone. If you lose your private key, there is no way to recover your funds. This just isn’t the type of customer support experience people want or are used to.
Onyx Messaging App

What Our Industry Has Wrong

Decentralized applications will always have a place in the market — especially among the most hardcore crypto people and parts of the world where these tools are essential. I’m personally an active user of many non-custodial products. I’m a blockchain early-adopter, I like to hold my own money, and I’m very forgiving of suboptimal UX.
However, I’m not afraid to say the poop stinks. Decentralized applications simply cannot produce the type of product experience that mainstream consumers expect.
If the goal is growth and adoption, as a community I believe we’re barking up the wrong tree. We are trying to make fetch happen. It isn’t gonna happen. Our Netscape Moment is unlikely to arrive as long as we’re focused on decentralized applications.
\"Mean Girls\" movie
There’s a reason why the most popular consumer applications are centralized (Spotify, Amazon, Instagram, etc). There’s a reason why the most popular crypto applications are centralized (Coinbase, Binance, etc).
The frameworks, tooling, infrastructure, and services to support these modern, centralized applications are mature and well-established. It’s easier to build apps that are fast & performant. It’s easier to launch apps that are convenient and on all form-factors (especially mobile). It’s easier to distribute and promote via all the major app store channels (iOS/Android). It’s easier to patch, update, and upgrade. It’s easier to experiment and iterate.
It’s easier to design, build, and launch a world-class application when it is centralized! It is why we’ve chosen this path for Genesis Block.
---
Other Ways to Consume This Content:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/
Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

Bitstamp Registrierung How to withdraw Litecoin from Bitstamp How to make a SEPA withdrawal from Bitstamp How to transfer crypto from Bitstamp to your Exodus Wallet Bitstamp & Simplex setup plus bitcoin purchase & withdrawal

Credit Card Purchases - A fee of 5% is charged for every credit card purchase. Debit Card Withdrawal - A fee of at least 10 USD is charged for withdrawing funds using a debit card. International Wire Transfer - A fee of 0,05% is charged for deposits made with an international wire transfer (the least you’ll pay is 7.5 USD and the most are 300 ... Select “Bitcoin” from the left-hand side menu. Enter the withdrawal address, the sum of BTC to be withdrawn and click “Withdraw”. Since Bitcoin transactions are irreversible, please always make sure to double-check the receiving address before initiating a bitcoin transaction. BTC withdrawals incur a 0.0005 BTC fee on our end ... Lowest withdrawal fee: 0 BTC (FREE) at ChangeNOW. Median: 0.0005 BTC ($5.46). Highest: 0.0015 BTC ($16.38) at HitBTC. Not Bitstamp though. Bitstamp only charges 0.0005 BTC for withdrawing BTC. This is also quite competitive seeing as the global industry average BTC-withdrawal fee is 0.000812 BTC per BTC-withdrawal. Here are a few of the other withdrawal fees: • Ethereum: 0.001 ETH • Ripple: 0.02 XRP • Bitcoin Cash: 0.0001 BCH • Litecoin: 0.001 LTC ... Bitstamp will charge you a 0.25% trading fee every time you buy or sell a cryptocurrency. You can get this down to 0.10%, however, you'd need to trade a minimum of $20 million in a single month ...

[index] [51171] [27617] [30666] [28273] [13824] [2601] [5295] [7378] [9736] [24305]

Bitstamp Registrierung

This short tutorial will guide you through the process of withdrawing Litecoin from your Bitstamp account. To perform a withdrawal, you’ll need your external... 1 month free. Find out why Close ... Bitstamp & Simplex setup plus bitcoin purchase & withdrawal - Duration: 12:27. John McKillop 4,523 views. 12:27. Duch Bitcoin reich werden !? Wie kaufe ich ... Step By Step How To Store XRP in Ledger Nano S Instructions Guide Set Up Cold Wallet Storage TTS - Duration: 9:37. Rose On The Moon 1,794 views This tutorial explains how to withdraw your funds from Bitstamp using an international wire transfer. Please note that you can only withdraw funds to a bank account held in your name. Bitstamp & Simplex setup plus bitcoin purchase & withdrawal https://youtu.be/NqywlWWvMxc https://merlinsmagicclubcoins.com/sirmac In this video you will see ...

#