Bought Steem with fiat for the first time! 🤗
So its finally done. The steem is in my wallet. :D Its been "quite" a ride for it to end up here.
bank account-coinbase-blocktrades-@silentscreamer.
Wanted to share a bit how buying Steem worked for me and what you can expect if you take the same path as i did (i suggest you dont haha ).
For a long time now i was thinking of buying some Steem, but the price was always too high, until it dropped below 1USD. I was waiting for it to hit the yearly low so i was sure this was the right time for me to buy.
Finally decided to buy around 0.84 USD.
Problem is that between the time you decide to buy and the time you can actually buy some, takes a few days.. So instead of buying at 0,84 i ended up buying at 0,95.
On Friday, 24.8. i sent 500 Euros from my bank account to my Coinbase wallet. It took 4 days, from Friday to Tuesday(day it arrived) to deposit on my Coinbase account.
Bank transfer fee: 13 Euros (100HRK)
With the Euros on Coinbase i bought ETH since it seemed the cheapest for transfers. Payed the Coinbase fee and sent the ETH through @blocktrades to my wallet. (+blocktrades fee, +miner fee)
From the 500 Euro i started with (+13 Euro bank transfer fee) i ended up with 572.6 Steem in my Steem wallet.
572.6 Steem = 474,7 EUR (im not sure how much blocktrades STEEM/USD differs from coinmarketcap and coingecko)
When all was said and done, i went from 513 EUR to 474,7 EUR.
I know there were probably some cheaper ways to do this but this is the safest one i know.
In conclusion:
To break even i need Steem to raise in price by 9%.
Moral of the story? Haha. I need a better way for buying Steem with fiat, so if anyone wants to share how they do it, im all ears. :D
Still, im pretty happy with my purchase, getting some skin in the game. I know 500 Euros isnt much in the grand scheme of things, but 500 Euro is a monthly wage for many people in Croatia so it wasnt easy for me to send it "to the cloud.
Still it feels cool putting in more into this platform besides my work.
Ill see you guys around and...
Some of my music videos:
On my own: Les Miserables:
https://steemit.com/openmic/@silentscreamer/8y2igcgw
AC/DC-Thunderstruck/Beethoven-Moonlight Sonata instrumental
https://steemit.com/openmic/@silentscreamer/5sccew5m
Aretha Franklin: Natural Woman
https://steemit.com/dlive/@silentscreamer/5e6d8f00-7a54-11e8-827c-49f76fdbeab3
Steem Original: TO THE MOON
https://steemit.com/openmic/@silentscreamer/5pcpxakt
James Arthur: Impossible
https://steemit.com/openmic/@silentscreamer/7pw7ncob
Moving on (Original Song)
https://steemit.com/openmic/@silentscreamer/a2nc4631
Frank Sinatra: My Way
https://steemit.com/music/@silentscreamer/4x49rtoa
Elton John: Can you feel the love tonight (Lion King soundtrack)
https://steemit.com/music/@silentscreamer/g1m7orxk
Enya: May it be (LOTR soundtrack)
https://steemit.com/openmic/@silentscreamer/962n3z6d
Pirates of the Caribbean soundtrack (Hoist the colors and Main theme)
https://steemit.com/music/@silentscreamer/231nc0ms
I dreamed a dream from Les Miserables
https://steemit.com/openmic/@silentscreamer/ggk5xq72
The Minnowsupport Lullaby
https://steemit.com/minnowsupportproject/@silentscreamer/yi7zsm7r
Schindlers List Theme
https://steemit.com/openmic/@silentscreamer/steemit-openmic-week-75-or-theme-from-schindler-s-list-or
Sam Smith: "Im not the only one"
https://steemit.com/blockmountain/@silentscreamer/block-mountain-submission-or-sma-smith-i-m-not-the-only-one-or
Meno/Pechichemena: "Wait" cover
https://steemit.com/openmic/@silentscreamer/3ht644ns
Whitney Houston: "I have nothing"
https://steemit.com/openmic/@silentscreamer/w7vcd5wc
Beyonce: "Listen"
https://steemit.com/openmic/@silentscreamer/znifwtme
Cee Lo Green: "Forget you"
https://steemit.com/onelovedtube/@silentscreamer/rdb4mn6h
Hey, congrats on the purchase @silentscreamer! It takes guts to invest in any crypto, and I wish you the best of results. I've been buying STEEM using a dollar cost averaging method for 14 months or so. Basically, I've bought as high as $8 and as low as $0.80. For me, it's a long term investment, and I don't plan on ever powering down below 10,000 SP if I can help it.
Since STEEM is something I truly believe in and I tend to be quite stubborn, there's a good chance I'll go down with the ship if it sinks. Even if that happens, I won't regret it because my life has been changed irrevocably by the wonderful people I've met. Money comes and goes, but connections/memories last forever :-)
Thank you for the kind words. Well i think Steem can only go up. People tend to think that BTC or ETH or LTC will bring in more investors, make crypto mainstream, but the truth is that only Steem so far can do that.
Steem at 10, 20, 30 times this price means tens of thousands, even 100ks more active users.
What more do you need for mainstream adoption?
Im really hoping SMTs will do for Steem what ERC20 did for ETH.
I found that to be a fair posibility which is why i put as much as i could in Steem.
I really dont see Steem ever being a sinking ship.
More like the flying dutchman aiming to the moon. 😀
Good Job, may be next time you can try on the P2P platform to buy crypto,localbitcoin
I assumed that brilliant performers like you would not have to resort to buying STEEM. You can pick up your violin, step up to the microphone, and make it rain votes.
Even so, the prices are tempting. I've been thinking about doubling down myself.
Posted using Partiko Android
Well it would be great if it was like that. Haha.
But it feels great to invest a bit.
Im hopeful that SMTs will do to Steem what ERC20 did for ETH.
Ill always have my violin. 😀🎻
Congrats on the acquisition! I just did something similar. I went from my bank account to Coinbase to Litecoin to BlockTrades. Such a pain in the butt. It really shouldn't be so hard! The waiting is the hardest part really. That transfer from bank account to Coinbase and then Coinbase to verify funds is so annoying. I bought some LTC a while ago and by the time Coinbase got done fooling around the price had tanked, so now I am sitting on a loss until it comes back up.
The waiting is frustrating ill give you that. Haha.
Till your money arrives the price can go up or down quite a bit.
I think blocktrades is working on making a fiat gateway but i dont know how far off that is. They rarely give out news.
Yeah, the second batch I purchased I used my debit card through Coinbase and that was much faster. You are limited on how much you can purchase though. It isn't as easy as it should be for sure!
I assume the transfer is free then?
No, they still take a cut. Once I have the desired crypto in Coinbase, I then move it to GDAX(or whatever they changed the name to) so I can move it to my desired exchange with lower fees. Moving from Coinbase to GDAX is free because they are the same company. Transfers out of GDAX to other places are cheaper that from Coinbase to other places.
Thats still too much. For all the talk feeless fast transactions everything we have is just too slow and pricey.
I agree! Once you have the LTC things are great, but that initial acquisition is horrible. I forget where you are located, but I hear it is not as bad if you are outside the US (which I think you are).
Next, time go from Coinbase->Gdax (coinbase pro) first (no fees, trade on market)
Then Gdax->Binanace
Binance -> Bozz
I can send you referral links if you like. This route is best value for money, as you avoid the fees and you deal in a larger volume exchange.
EDIT: I noticed later that you did use GDAX! Sorry!
Yeah, I went right from GDAX to Blocktrades though. I do have a Binance account and in the future I will go that route. Thanks for the info!
It's worth having some BNB if you don't already hold that, to cover the fees on Binance.
I picked some up, but not enough to allow me to vote. It must have just been sprinkle that I grabbed 😁
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Well thx for the upvote guys. I was wondering how it works. 😉
Works like this! ;-)
You r lucky to buy it .Now you can use to gey upvotes. Where r other places one can buy steem? @silentscreamer
As long as steem is a long term investment you'll be fine.
Noooo you have coinbase but didn't use the exchange option (coinbase pro) to buy? Not only can you set your price without a trade fee, but the transaction fees are paid for by coinbase too (from coinbase pro, regular coinbase may charge you). Next time let me know and I can get you there better :D
But also, bank transfer has fee too? I thought wiring (ACH transfer in my case) had no fee either, or is that dependent on the bank?
Posted using Partiko Android
Thats why i made this post. You can always learn something. So thx.
Yes when im using SEPA to move funds from one country to another we have a fee.
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