spread in the case of bitcoin is, but probably lower. Its ridiculous that it can take four banks (all taking a cut) over a week to send dollars from a UK company to a Chinese producer. This fee can possibly be lowered.1 by doing reddit fullnode bitcoin raspberry swap the transfer with a different type of electronic money, like litecoin, I haven't looked into that. You can adjust your browser settings at any time. We are placing cookies on the device to make this website better.
Neither coinbase nor kraken can schedule any of this. Financial firms make choices on the basis of clear rules. Should it be regarded as cash or something new? Kraken requires 6 bitcoin confirmations, so the transfer Coinbase - Kraken took 20 minutes. I just transferred 1000 from the US to Europe, from my wellsfargo account, via coinbase (bitcoin USD wallet kraken (bitcoin EUR wallet) and a EUR bank account there. The sepa transfer to the EUR bank account cost EUR.09 and took 4 days.
The bitcoin transfer takes a lot more manual clicking work. Give me more info, ok, I agree. You have to transfer the money (1-2 minutes do the bitcoin transfer (wait 20 minutes do a bitcoin/euro trade ( wait 20 minutes then do the 2nd transfer. This is happening everywhere notably Bitfloor and Bitcoin-24 shut themselves down recently. And its not just the big guys that would benefit. It took around five days.
Coinbase took 10 in fees for the ACH money transfer from my bank account into the coinbase bitcoin wallet. Now this is not the whole story, because I haven't figured out the cut the bank takes on the exchange rate and what the difference between the interbank rate and the US- Bitcoin- EUR rates. Without them, things like Bitcoin fall into the hands of those who use it for illegal activities. But to gain any of these benefits, the financial regulators need to take a stand.
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