Here you will find the right answers
The moneyland.ch forum lets you exchange knowledge on numerous topics related to money and get answers to your questions at any time. Join forum users and experts in discussions relating to banking, investment, insurance, retirement, telecom and everyday money topics.
Show categories
With the price of Bitcoin climbing at an unprecedented rate, I am tempted to buy some Bitcoins to sell when the price goes up. What should I pay attention to when buying?
Hi there,
When purchasing Bitcoin as an investment, it is important that you treat it like any commodity investment. If your goal is to make a profit rather than a statement, pay careful attention to the brokerage fees, transaction fees and retail fees involved in buying and selling Bitcoin. The cost of buying and selling your Bitcoins (on top of their actual value) will cut into your profits.
Buying Bitcoin through a Bitcoin ATM is best avoided because commissions are high. Fore example, the Swiss federal railway SBB / CFF charges a commission of 6% when you buy Bitcoin through its ticket vending machines. Bitcoin Suisse charges a fee equal to 5% of each Bitcoin purchase made through its ATMs. Similar fees apply when you sell Bitcoin through ATMs.
Fees are generally lower when you purchase Bitcoins directly from brokers - particularly when you purchase large amounts. The same applies to selling Bitcoin.
Purchasing Bitcoins directly from trusted individuals who are willing to sell them can help you get around brokerage fees. Exercise caution when dealing with strangers or marketplaces which you do not fully trust.
Foreign transaction fees may apply when you purchase Bitcoin through a foreign broker or marketplace because your Swiss francs will be exchanged into the local currency before being used to buy Bitcoins. The same applies when you sell Bitcoins through a foreign broker.
Best regards from Moneyguru
More on this topic:
Interactive securities broker comparison
Cheap bank accounts with card
Cheap bank accounts with card
Yuh
No account fees
Banking partner: Swissquote & Postfinance
CHF 20 trading credit with code «YUHMONEYLAND»
Radicant
High interest on your everyday account
Best exchange rates
Up to 1% of card spending as saveback in the investment portfolio
Bank WIR Bankpaket Top
Free account & card
No exchange fees for foreign payments (interbank exchange rates)
24 ATM withdrawals worldwide per year free of charge
Alpian
CHF 100 welcome bonus
Favorable foreign exchange rates
Multi-currency account with Visa card (CHF, EUR, USD, GBP)
UBS key4
50 KeyClub points as a welcome gift
Online private account with debit card
Deal of the Day 
Free bank account
Yuh
No account fees
