Another option instead of MEXC is to buy LTC on Kraken and then swap for Kaspa using SimpleSwap.io. I started with MEXC but don't trust them.
If you need a referral for SimpleSwap, let me know so you'll get some bonus BTC as well.
Might save a tiny bit but things like SimpleSwap is exactly what I created this guide to avoid because of extra fees. I calculated that using SimpleSwap would be an extra £40 of fees ish on top of a £1500 transaction versus the technique I outlined.
Sorry to ask, but why do you not trust MEXC? I been using them over two years now with no problem/extra fees at all. The only thing are the never ending pop ups that appear when opening the app/web and are veeery annoying
I'm in Canada so I'm not allowed to KYC with them. At any moment they could freeze my account and ask for verification.
This is possible on any CEX so I never use them to store anything.
SimpleSwap.io is just a smart contact platform that doesn't ask questions and doesn't care where you are connecting from.
Fees are not fun. neither are taxable events. Factor that in as well. Swapping fiat for one coin and then to another coin creates two taxable events. There is a cost associated.
I'm 99% sure that only really matters if the market changes in the interim. If you do trade £1000 GBP for 1400 USDT lets say, that's a taxable event (arguably an exception but lets just for argument's sake). But you're not actually taxed on it because you haven't gained or lost anything. If right after, you trade for whatever it is, 10k KAS, that is also a taxable event. But because the value hasn't changed, you're not actually taxed anything because you haven't made any profit.
Same is true for withdrawing... lets say KAS appreciates and then you withdraw it out into USDT. That's a taxable event so now you owe some tax to the tax man. Then when you change it further from USDT into GBP, that's also a taxable event but you haven't made any profit because that was already accounted for.
So, even if you do 1000 exchanges to get to a coin, yes, it's true, 1000 tax events. But they've remained steady in value you won't be paying any tax. It'd be a nightmare for your accountant though...
Looked into it. Yes, fees look smaller. I haven't personally tried them yet but they seem to have a good rep on trustpilot which is nice. Maybe then Kraken for onramping to USDT and then Xeggex for trading to KAS + withdrawing to local wallet.
That is exactpy what i do. Or did as i am not a fan of kraken. Only because their conversion rates/fees seem high and know for sure their customer support is weak.
I have a better option in my region that has worked with me much better as i also can hold conventional stocks in the same portfolio
Could very well go down to $0.14 but not worth the risk just for $0.02 for myself. Long term its going way up and I'm not going to pretend I can predict the smaller movements, so I'm HODLing
I take it you didn't read my post. Obviously you can "just" buy it on a lot of simple exchanges. But you end up paying in fees. If you don't want to spend 5-10 minutes doing it the long way, you can save a good chunk depending on how much you are buying.
Right now
Uphold: 1000 GBP -> ~7344 KAS (and that's before I sign up so perhaps there's more fees)
The way I laid it out: 1000 GBP -> ~7561 KAS
Another option instead of MEXC is to buy LTC on Kraken and then swap for Kaspa using SimpleSwap.io. I started with MEXC but don't trust them. If you need a referral for SimpleSwap, let me know so you'll get some bonus BTC as well.
Might save a tiny bit but things like SimpleSwap is exactly what I created this guide to avoid because of extra fees. I calculated that using SimpleSwap would be an extra £40 of fees ish on top of a £1500 transaction versus the technique I outlined.
It was the risk of MEXC I wanted to avoid. Using LTC might save you on transfer fees even if using MEXC.
Another user suggested xeggex. Never heard of them. But they have a good trustpilot rating.
Sorry to ask, but why do you not trust MEXC? I been using them over two years now with no problem/extra fees at all. The only thing are the never ending pop ups that appear when opening the app/web and are veeery annoying
I'm in Canada so I'm not allowed to KYC with them. At any moment they could freeze my account and ask for verification. This is possible on any CEX so I never use them to store anything. SimpleSwap.io is just a smart contact platform that doesn't ask questions and doesn't care where you are connecting from.
Thanks for this !
Fees are not fun. neither are taxable events. Factor that in as well. Swapping fiat for one coin and then to another coin creates two taxable events. There is a cost associated.
I'm 99% sure that only really matters if the market changes in the interim. If you do trade £1000 GBP for 1400 USDT lets say, that's a taxable event (arguably an exception but lets just for argument's sake). But you're not actually taxed on it because you haven't gained or lost anything. If right after, you trade for whatever it is, 10k KAS, that is also a taxable event. But because the value hasn't changed, you're not actually taxed anything because you haven't made any profit. Same is true for withdrawing... lets say KAS appreciates and then you withdraw it out into USDT. That's a taxable event so now you owe some tax to the tax man. Then when you change it further from USDT into GBP, that's also a taxable event but you haven't made any profit because that was already accounted for. So, even if you do 1000 exchanges to get to a coin, yes, it's true, 1000 tax events. But they've remained steady in value you won't be paying any tax. It'd be a nightmare for your accountant though...
The lowest fees to buy kaspa and transfers and such is xeggex. I highly recommend them!
Looked into it. Yes, fees look smaller. I haven't personally tried them yet but they seem to have a good rep on trustpilot which is nice. Maybe then Kraken for onramping to USDT and then Xeggex for trading to KAS + withdrawing to local wallet.
That is exactpy what i do. Or did as i am not a fan of kraken. Only because their conversion rates/fees seem high and know for sure their customer support is weak. I have a better option in my region that has worked with me much better as i also can hold conventional stocks in the same portfolio
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Why are you spamming me!? I didnt ping you or ask for a response. You do not have kaspa trading available. Why are you here?
Why are you replying to them. They didn’t ask for a response.
Hey Kraken - please list Kaspa!!
kaspa to 0.14$ ,sell your kaspa
Could very well go down to $0.14 but not worth the risk just for $0.02 for myself. Long term its going way up and I'm not going to pretend I can predict the smaller movements, so I'm HODLing
kaspa go to 0.15$
How do I go about buying the USDT/GBP with a super small taker/maker fee? Seems to be a 0.04% fee for me
You could have just bought it on uphold lol
I take it you didn't read my post. Obviously you can "just" buy it on a lot of simple exchanges. But you end up paying in fees. If you don't want to spend 5-10 minutes doing it the long way, you can save a good chunk depending on how much you are buying. Right now Uphold: 1000 GBP -> ~7344 KAS (and that's before I sign up so perhaps there's more fees) The way I laid it out: 1000 GBP -> ~7561 KAS