Old daemon and wallet version 0.17.0.1
Litebit.eu How to buy FTC with fiat money
Tobi97l last edited by Tobi97l | Tip Tobi97l
A few days ago i wanted to buy new feathercoins. Normally i bought ltc (because of bitcoins high fees) on coinbase, transferred them to bittrex, exchanged to btc and after that exchanged to ftc. This has two major problem. First it just takes time. You always need to to wait until coinbase recieves your transaction. After that you have to wait until your ltc are transferred to bittrex and even then you still have to transfer the ftc to your local wallet. Also you have to pay a lot of fees and you will get less ftc.
Another user on reddit mentioned litebit once and i tried it out. First of all you can buy FTC directly on litebit with fiat money which is already really nice. Second if you use giropay or sofortpay (both are usable in germany idk about other countrys) you can get the ftc instantly if you have reached tier 3 verification. I didn’t had tier 3 so i still had to wait until they got my money which took around 12 hours. The ftc that i bought got paid directly to my local wallet. I only had to pay a 1€ fee for the payment method that i chose. I could have paid even less fees if i wanted.
But the best thing is that with giropay they even guarantee you the price when you started your purchase. Even if it takes a day until they get the money. So if the price increases it’s not a problem. You don’t have to worry anymore to have enough fiat money on exchanges to be able to buy dips.
Right now they don’t have a big volume but when i bought my ftc they still had 7 million coins for sale. Maybe we could add litebit on the official website considering it is the only exchange that offers fiat pairs.