well isnt this a promising little community! this avocado story has me interested i must admit, want to see how it pans out… but im not here for that…
firstly hello everyone… im relatively new to the world of crypto and I have collected over the months a little stash of BTC im now seeking to sell for CHF. but im kinda lost…especially regarding the fees (never was good at maths) say I wanted to sell 500chf worth of bitcoin (0.04 at the time of this msg) how much would i need to sell in order to compensate the fees?
im usually one who enjoys a good read over a video but are there any video tutorials that take you step by step through the buying/selling process? would any of you be so kind as to provide me with some links to useful information on the matter…
from what iv read online in terms of reviews i seem to have landed in the right place. heck i might even get a welcoming msg from Manfred :p.
Yes we still lack of good introduction videos/tutorials. There are a few if you browse the videos page on the webpage or if you search here in the forum Bu it is on our long todo list…
If you take an offer the fees are straight forward: 0.2% of trade amount + mining fees (that depends how high they are at the moment, can vary strong).
As maker your fee has an additional factor which depends on the distance to the market price. If your offer is close to the market price so has good chances to get taken quickly the fee is lower if your offer is far away and will probably stick around long time the fee is higher. The factor is 1 for a 1% distance for lower distance it gets down to zero but there is always a min. fee of 0.0002 BTC (about 2 USD currently). If your offer is 9% to market distance the fee is 3 times higher as the default 0.2% -> 0.6%.
this makes a lot more sense to me than what i read on the FAQ. thx for the reply.
Maybe we can get someone to make those tutorials if they are needed. We could pay with some BSQ, it shouldn’t be a hard job.
Yes @cbeams will come up with some bounty tasks soon and 2 will be for tutorials and videos.
right so i put up my first trade. I really hope i did everything correctly. if I made a mistake (but i dont think so) I assure its not out of ill faith but rather out of stupidity…
No worry, it is not that hard and honest mistakes will not cause loss of deposit…
it really was not that complicated at all