Bitcoin.com or COINBASE. ONE is WAY too EXPENSIVE
After opening up a BITCOIN.com wallet today (they gave me .04cents worth of Bitcoin Cash to open the wallet) I decided to do a little comparative shopping for BITCOIN and BITCOIN CASH on these two platforms.
Other than possibly being able to use a Credit Card as payment ( as opposed to a debit card) it seems that #COINBASE has BITCOIN.com beaten handily.
This was a simple comparison.
HOW MUCH DOES IT COST IN USD for ONE bitcoin?
Granted the exchanges are a little off from each other on price but that is minimal as you will see.
BITCOIN.com
NOW COINBASE:
Notice there is only a 6 dollar difference between the exchanges:
- We are going to initiate a possible purchase of 1 bitcoin from each site:
1st www.bitcoin.com
2nd : www.COINBASE.com
These are all screen shots from about 12:25 EST 5/23/2019
This is not even close to being on par.
www.BITCOIN.com wants me to spend 873.04 more dollars than #COINBASE does for the EXACT SAME PRODUCT!
I can buy almost 10 #Litecoin for that!
That's right as of this writing I would have spent $8692.67 Dollars for 1 bitcoin on www.bitcoin.com or 7819.63 cents on www.COINBASE.COM!
Now to be honest most all of these exchanges charge way to much for the product, but then again I can MINE my OWN for less than the current value if I want to, or I can sell items or services to those who do... but that is another blog...
Now what about buying Bitcoin Cash?
)
$398 for coinbase and $435.86 for www.bitcoin.com
Non of this includes how much more would be lost in selling back into fiat.
The difference is clear between these two on-line exchanges.... www.bitcoin.com is ripping folks off when it comes to purchasing Bitcoin or Bitcoin cash.
One more thing.
When I went to the www.bitcoin.com webiste and clicked the link to buy BITCOIN ( not bitcoin cash) the link went straight to a screen offering to seel me BITCOIN CASH and I had to decipher the page to click another drop down to actually come to BITCOIN. I found this to be a bit manipulative, especially when referring to BITCOIN as BITCOIN CORE instead of simply BITCOIN like almost every other exchange does. ALMOST like they KNOW that most folks using their site will be NEW to the bitcoin market and system and they are trying to take advantage of the NOOBS that are looking for BITCOIN and who just type in BITCOIN.com into their search engine.
They did not type in www.bitcoincash.com, which had they done so they would have gotten what they were looking for.
As it is , after looking through the BITCOIN.COM website it is more of a .CON than a .COM using subtle bait and switch tactics to get folks to spend WAY to much for bitcoin at best and at worse to trick folks looking for bitcoin into using bitcoin cash instead.
Do not get me wrong I LIKE BITCOIN CASH and I think that Roger Ver is correct about it's uses and capabilities , but spending huge spreads to get it is DUMB.
if you spent the same money on BCH on the BITCOIN.com site that you spent on bitcoin ( 8692$) you would get 19.98 coins, had you spent it on the COINBASE exchange you would have gotten 21.88 COINS., If you had done it on the GDAX, ( coinbasepro exchange you would have gotten 22.32994231.....
I will not be BUYING any coins from www.bitcoin.com
Disclaimer: I have owned both Bitcoin cash as well as BITCOIN and do not have a problem with either of them.