Which Exchange do you use to buy Bitcoin?

**KS1986** · 04-23-20, 11:00 AM

I use Kraken, coin base asked too many questions and eventually shut my account down when I didn't want to answer them. I've been using Kraken for 4-5 years now without any issues.

**randomuser** · 04-23-20, 11:43 AM

Originally posted by KS1986

I use Kraken, coin base asked too many questions and eventually shut my account down when I didn't want to answer them. I've been using Kraken for 4-5 years now without any issues.

Thank you KS.. So I will not have problems with them for big sum?

**Vikings2** · 04-23-20, 03:45 PM

Coinbase

**dmm** · 04-23-20, 03:55 PM

I use Shakepay, but I believe it's limited to Canada.

**KS1986** · 04-23-20, 04:45 PM

Originally posted by randomuser

Thank you KS.. So I will not have problems with them for big sum?

I have what they call an intermediate account. I had to go through some minor verification, but I didn't find it too intrusive. Once that's done you can withdraw up to 100k daily and 500k monthly. They have higher tiered accounts if you need bigger limits, but that requires more verification. Coinbase asked a lot of questions about my employment and income that I wasn't willing to answer so they closed my account. Kraken has been great. I withdraw anywhere from 5k-20K monthly no questions asked and I've been using them for years.

**temple2010** · 04-23-20, 05:48 PM

gemini

**MeanPeopleSuck** · 04-24-20, 05:14 AM

Originally posted by randomuser

I heard Kraken, Coinbase and Bitstamp are all good. which exchange do you use?

If you're just looking to buy and sell BTC for gambling purposes, then all three exchanges you mention are solid. Of the three, Slovenian registered Bitstamp might have the least annoying KYC requirements.

As for large denomination deals, Gemini (those crazy Winklevosses. Winklevii?) is well known for handling extremely large transactions.

But if you were looking to actually trade crypto for profit, I wouldn't recommend any of the above. There's more action and lower commissions at places like Binance and Bitmex, so those might be worth a look.

**randomuser** · 04-24-20, 12:18 PM

Thank you all, I think I will go with Kraken.

**gamblehappier** · 04-25-20, 04:57 PM

I just subscribed to Binance.A good list after a search is:

Binance,Bitstamp,Bitrex,Kraken,bitfinex, Coinbase,Poloniex.Hope it helps.

**randomuser** · 04-26-20, 06:48 AM

Originally posted by gamblehappier

I just subscribed to Binance.A good list after a search is:

Binance,Bitstamp,Bitrex,Kraken,bitfinex, Coinbase,Poloniex.Hope it helps.

Thank you too

**Foosball Champ** · 04-26-20, 06:58 AM

i have been using localbitcoin.com with mixed results. i thought that they were pretty popular. but i guess these others mentioned in this thread are better?

**littlekona** · 04-26-20, 07:09 AM

Originally posted by Foosball Champ

i have been using localbitcoin.com with mixed results. i thought that they were pretty popular. but i guess these others mentioned in this thread are better?

i too use localbitcoins when I need fast. I only do the cash deposit method and never had any issues with 300+ trans. I deal with the same sellers most of the time. Gemini I also use and has best rates but takes 5 days to release with a A ch transfer

**Foosball Champ** · 04-26-20, 07:15 AM

Originally posted by littlekona

i too use localbitcoins when I need fast. I only do the cash deposit method and never had any issues with 300+ trans. I deal with the same sellers most of the time. Gemini I also use and has best rates but takes 5 days to release with a A ch transfer

Thanks Kona. great advice as usual

**gamblehappier** · 04-26-20, 07:16 AM

Take point that all crypto exchanges to do not allow withdrawals from bitcoin to bank accounts(via fiat exhange).For example Binance is good,but they do not allow convert to fiat.In general the list is good.

**Black777** · 04-29-20, 06:00 AM

Originally posted by KS1986

I have what they call an intermediate account. I had to go through some minor verification, but I didn't find it too intrusive. Once that's done you can withdraw up to 100k daily and 500k monthly. They have higher tiered accounts if you need bigger limits, but that requires more verification. Coinbase asked a lot of questions about my employment and income that I wasn't willing to answer so they closed my account. Kraken has been great. I withdraw anywhere from 5k-20K monthly no questions asked and I've been using them for years.

Hi, sorry I'm not very familiar with btc. You meant you usually withdraw 5k-20K from the bookie to Kraken? Or from Kraken to a bank account or other EMIs?

**KS1986** · 04-29-20, 08:07 AM

Originally posted by Black777

Hi, sorry I'm not very familiar with btc. You meant you usually withdraw 5k-20K from the bookie to Kraken? Or from Kraken to a bank account or other EMIs?

From gambling sites I always withdraw to my Ledger hardware wallet. When I need cash I send the btc from my wallet to my Kraken account and sell the btc, then I take a wire and the funds usually hit my bank in a day. On a few occasions it's taken longer, but never more than 3 days. I pay a small fee to sell the btc and Kraken charges a $5 fee for wires. The whole process is fast and cheap.

**randomuser** · 04-29-20, 08:25 AM

Originally posted by KS1986

From gambling sites I always withdraw to my Ledger hardware wallet. When I need cash I send the btc from my wallet to my Kraken account and sell the btc, then I take a wire and the funds usually hit my bank in a day. On a few occasions it's taken longer, but never more than 3 days. I pay a small fee to sell the btc and Kraken charges a $5 fee for wires. The whole process is fast and cheap.

The problem is that some banks close or froze account when someone receive money from an exchange. Most european banks are still not dealing with crypto. Sometimes IBAN of the exchanges bank account are blacklisted. Do you know banks that don't make problems?

**Optional** · 04-29-20, 02:40 PM

Originally posted by randomuser

The problem is that some banks close or froze account when someone receive money from an exchange. Most european banks are still not dealing with crypto. Sometimes IBAN of the exchanges bank account are blacklisted. Do you know banks that don't make problems?

Why don't you simply ask the bank you want to use?

I do not believe there are any mainstream banks who refuse to accept deposits from legally licensed exchanges.

Maybe some tinpot credit union managers try to pull stunts at local branch level, but I am not aware of official policies from any big bank that refuse to deal with legal crypto exchanges. It would be a restraint of trade issue if they tried to do that without a justification.

**Cabaldwin3** · 04-29-20, 06:21 PM

I use cash app. Nothing is easier than that.

**Overlander** · 05-01-20, 08:07 PM

Originally posted by Cabaldwin3

I use cash app. Nothing is easier than that.

We will share Account Information and transaction information, including your name, the amount, and a description, with the other party to your transaction and in accordance with our Privacy Policy

**stake1** · 05-01-20, 11:09 PM

C-base

**randomuser** · 05-02-20, 09:23 AM

Originally posted by Optional

Why don't you simply ask the bank you want to use?

I do not believe there are any mainstream banks who refuse to accept deposits from legally licensed exchanges.

Maybe some tinpot credit union managers try to pull stunts at local branch level, but I am not aware of official policies from any big bank that refuse to deal with legal crypto exchanges. It would be a restraint of trade issue if they tried to do that without a justification.

What about ING Direct and N26? For example.

**gilbert91016** · 05-20-20, 11:27 AM

How do you guys deposit into kraken ?

**Moneygreen** · 05-20-20, 04:01 PM

Kraken and Bitstamp are 👍👍👍

**Arky** · 05-20-20, 06:14 PM

Originally posted by gilbert91016

How do you guys deposit into kraken ?

Wire transfer. It's the only thing I see listed and it is my preferred way, anyway. There might be other ways (like ACH) but I haven't bothered to look into it.

If you've never done wire transfer, you'll have to use the wire information that Kraken furnishes, call your bank's customer service and relay that information to them to set up the wire.

New applicants to Kraken should know they have a tough (picky) KYC you have to get right before they approve you. I spent several hours one evening trying to get the ID photos just the way they wanted before they finally approved me. Very frustrating. Other than that, they are very good exchange.

Tip: one of the first things to do in Kraken would be to set up 2FA with the Global Settings. Global Settings locks and unlocks activity. If you click Global Settings unintentionally without having 2FA, you have to wait three days for it to reset. Once set up properly, you don't have to wait the three days.

**paulll** · 05-21-20, 02:52 AM

I use Binance. Probably the best Exchanger for fiats with the lowest fees

**Greenline** · 05-22-20, 12:23 PM

Coinbase Pro, Cash App.

**Shifty** · 12-02-20, 11:37 PM

I really liked Binance but they are kicking out Americans right now. It's been over a year since they banned Americans but now it is being enforced. I've used BinanceUS. Not as good as Binance, BinanceUS has less liquidity. I can't deposit to BinanceUS by ACH, it's just not working with the bank I've always used. I signed up with Kraken, sent them ID and was verified for Intermediate in a few minutes. Kraken's terms say that you can't sell BTC deposits until 6 confirmations. That could take well over an hour. If it wasn't for that I'd start using them right away. Binance and BinanceUS let you sell after 1 confirmation. Any other good exchanges that let you sell BTC after 1 confirmation?

**Limited** · 12-03-20, 02:09 AM

Best for EU probably Bitstamp, Bets for US probably Kraken. Binance lowest fees, but not the safest place. I would not use Coinbase, too much influenced by regulators.

**jjgold** · 12-03-20, 12:49 PM

Limited excellent recap there

**wombat** · 12-03-20, 07:56 PM

Kraken will be the best US exchange once they get their banking in place and start offering debit cards towards btc balances which is coming soon.

**wombat** · 12-03-20, 07:59 PM

Also, I believe kraken is one of the few if not the only exchange in the US that lets you trade five times margin against your account balance.

**Shifty** · 12-03-20, 09:17 PM

Kraken looks good for trading but not for sportsbook payouts. Their 6 confirmation requirement will keep me away.

**Roscoe_Word** · 12-05-20, 07:24 PM

Supposedly Kraken doesn't send out any tax forms if one is below a certain threshold. (20K in transactions?)
We'll see pretty soon.

Coinbase does (at least to me). One year I was well below the 20K threshold yet got a tax form anyway.

My tax accountant was flummoxed. It only had a field which stated the transaction amount (not the profit-loss amount) which can be misleading.

Cionbase has the bank ACH deposit system whereas Kraken (to my knowledge) doesn't. (Only wire)

One's bank might or might not have "wire transaction availability" online. (think BkofAma does, but that's it)

Otherwise one must physically go to one's bank for a Kraken wire. Bank appointments (as we know) are no easy task these days.

Like everything, pros and cons.