Safest way to buy Bitcoin - Safello Blog

Safello launches new Faster Payments options in the UK!

Safello launches new Faster Payments options in the UK! submitted by nanonanouk to BitcoinUK [link] [comments]

I feel like an idiot for buying from Safello

So, i've been purchasing Bitcoin from Swedish exchange Safello for several years. Their integration with mobile payment app Swish makes it easy to purchase bitcoins. But i never checked their fees properly, and the only statement written in their FAQ is that they don't use fees, but instead use a "spread model" where they make money from the difference between buying and selling prince. Fair enough.
Turns out, this "spread model" means a bitcoin from Safello costs $30+ above market price, and if you sell a coin to them you receive $15+ less than market price. This is a pretty significant haircut and i feel like an idiot for not investigating this properly before using them for over a year (!) as my primary exchange.
Where do you fellow swedes get your coins?
submitted by maxi_malism to Bitcoin [link] [comments]

Safello.com appears to be a scam.

After going through verification I placed an order for bitcoin with them, 48 hours after they have received my money via UK faster payment system (took 6 minutes btw) they still have not purchased/sent me my bitcoin.
Support is completely unresponsive, there is no ticket system only email.
I would advise people to steer a wide birth until this is resolved.
Edit: Got my bitcoin on Monday morning 60 hours after order, transpires although they are on UK faster payment system they:
submitted by bell2366 to Bitcoin [link] [comments]

I was told bitcoins where free to use without fees

So when someone saw it fit to throw up a number for the suicide hotline in this sub I knew that it was a good time to buy BTC so I bought in at $610/BTC and a while back I sold at $960 (this was only as a way for me to understand it better and incentivise me to read up more on the prospects). So to my title: I thought that if I managed to get in at rock bottom and sell almost at the top resulting in a whooping 57% increase in price I was to end up with some extra cash in my pocket. How much did I end up with? A cool 5% return on investment. AHA, you mean 50%? No, 5%. The spread of the company that helped me buy into and sell my BTC was so insane that I made close to nothing. The broker (if you call them that) is Safello and I am sure that there are other way better than this but still; this is not something wildly spoken of and not taking it into account can turn a really good ROI into nothing or even less. Watch out for the spreads. Also, I know it is not a fee and that actual transactions between wallets is (more or less) free but no one talks about the spread and you should really pay attention to it. Now I will spend that 5% return ($7.6) on a sweet tasty Max burger.
EDIT: This was meant as a heads up to people not to make my mistake. But in true /bitcoin fashion it turned into showing in how many ways I am wrong and that I should feel bad. Keep ignoring actual issues /bitcoin, eventually they will all go away. Also deflation is not an issue.
submitted by oskarege to Bitcoin [link] [comments]

[uncensored-r/btc] How the Tether (USDT) distribution system works. Bitcoin/DASH, Coinapult, Cryptocapital, Bitifnex...

The following post by geekmonk is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ btc/comments/7ljmik
The original post's content was as follows:
Full article: https://medium.com/@untetheredbtc/how-the-tether-usdt-distribution-system-works-84a5c673bec0
The article is somehow badly written, so here is a short summary:
CryptoCapital - Panamanian Financial services company (launched by HAVELOCKINVESTMENTS) claiming to be a bank and licensed crypto exchange (the author has proof both are false).
HAVELOCKINVESTMENTS - Announced partnership between Coinapult and Cryptocapital
Coinapult and Cryptocapital are connected through Ira Miller (ex-CEO of Coinapult, also developed Cryptocapital's internal tech)
Where Tethers come into play: Coinapult offers a service known as LOCK where you lock the value in usd of your bitcoins in order to hedge against fluctuations. The Author has evidence and is sure that Coinapult, to "protect" the value in usd of the coins (bitcoins & dash) its LOCK feature users deposit, simply converts them into Tethers but claims instead that deposits are insured by CryptoCapital. The author also notes that Coinapult's Bitcoin price feed is taken from Bitfinex which proves they are converting them into tethers (also run by Bitfinex).
How/Why Tethers are printed: Coinapult offers its LOCK feature to Mycelium and a DASH wallet. People who deposit bitcoins/dash coins with Mycelium and decide to LOCK the value of their investments in USD trigger the issuance of fresh tether tokens (through Coinapult and Cryptocapital). Beware that these people think they are insured by Cryptocapital but all cryptocapital does to insure them is to convert their coins into "Tethers". This makes particular sense if you think that only a couple of weeks ago a bitfinex employee commented in a Tether thread saying "what if tethers are bought with other cryptos".
Coinapult also works with Safello, an exchange with a dozen thousand users, and with DASH wallet(s).
Important Note: The Author points out how Coinapult went from being b2c (business-to-consumer) to a b2b entity (business-to-business) since the release of its lock feature. This means that Coinapult only works with businesses. In other words it offers its service to Safello and Mycelium in bulk, it doesn't deal with users individually.
Roger Ver: The Author is suspicious that Roger knows about Coinapult & CryptoCapital (Roger is an investor in Coinapult), the Tether mechanism used to "LOCK" bitcoin/dash holdings, and converted his 40k BTC into BCH to get out of the loop. The Author thinks so because Kraken (an exchange where Ver was an early investor) did business in the past with the Cryptocapital and because Ver has a stake in Safello so must be aware of the LOCK feature integration. The Author also mentions Roger's "somewhat confused" reaction when asked about Tethers in his recent AMA. In other words, the Author says Roger knows more than he says and this is one of the reasons he got out of bitcoin.
Author's Conclusion: If in a market crash the millionaires using the LOCK feature of Coinapult head over Coinapult to claim the locked value of their investments, they are probably not going to back the initial value (because they have been converted into tethers and not all tethers are backed by usd) but can hope at most to get back the initial coins they deposited. Also this can happen only if the coins have been kept safely in Bitfinex's vaults (bitfinex issues Tethers to Coinapult/Cryptocapital)
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

12-12 19:22 - 'CTO of bitcoin.com: "Bitcoin is virtually unusable" "Bitcoin Cash is the future"' (self.Bitcoin) by /u/TexBoo removed from /r/Bitcoin within 12-22min

'''
--This article was in my news fee on my phone when I swipe to the side from BreakIT (Swedish news?)
Article is in swedish and is located here: [link]1
Is this simply a scare scheme for bitcoin users so the CTO (Emil) hope that BTC prices go down a bit so he can buy more? He says that Bitcoin Cash is the future
Below is just Google translated from the article.
The office is small and colorless. A room, a few chairs and tables, computers. On one wall, television screens with crypto exchange rates are being updated in real time.
Bitcoin.com's Tokyo premises are far from any glamorous tech office at La Stureplan.
However, very large sums of money flow through the premises, there is no doubt.
Emil Oldenburg, co-founder and technical director at bitcoin.com, has lived in Tokyo for the past three years. He reports that several of the company's employees have become major winners of the sharp increase in bitcoins in recent years.
"We pay all our 60 employees in bitcoins," explains Emil Oldenburg.
"All my salary over the last three years has been in bitcoin."
A smart move, with a hand in hand.
Bitcoin.com is a site that revolves around everything that has to do with bitcoin. The company, which has its headquarters in the paradise island of St. Kitts, has news writers guarding the bitcoin world, an online casino for people who want to play with their bitcoins and break their own bitcoins via a so-called "mining pool".
The company has several types of revenue bones linked to the site, but the latter branch, the creation of new bitcoins, is the big deal.
Emil Oldenburg does not want to reveal any figures, but says that it is "terribly a lot of money".
"But then we have miners who are connected to us who always have to pay regardless of whether we manage to break a few blocks. Sometimes we go plus, sometimes back depending on how many blocks we break per month. It will be a bit like a lottery for us "he says, without revealing how much he himself has drawn onto the bitcoin sharpen.
As most people know at this point, bitcoin technology is complicated. But simplified, a "mining" in their network is a person who helps to develop new bitcoins.
"One example is that it is run by people aged 25-40 who live somewhere where there is cheap electricity, such as China, and has type 10,000 computers in a giant server hall. It's a very big operation, and usually people have capital investors in the back, "says Emil Oldenburg.
Bitcoin.com was launched in 2015. Bitcoin Investor Roger Ver had bought the attractive domain for a secret bitcoin a few years earlier, wondering if Emil wanted to help him build the business.
Today, the company has several million unique visitors each month, according to its own task.
The fact that the interest in cryptography and blockchain technology has exploded since its founding is no doubt. Emil Oldenburg, who previously joined the Swedish bitcoin broker Safello, said that there are very many "jokes" in the industry today, and he raises a warning's finger for anyone who wants to enter the race.
It's got to be really source-critical, he explains.
"There was something that annoyed us quite a lot at Safello when we started it. We did everything properly, to get all the permits you needed. At the same time as many other kidders came off shortcuts and do things oscillously."
In addition, he raises an extraordinary warning finger for the most sharpened cryptovalutan of all of them - that is, bitcoin, BTC.
"An investment in bitcoin right now I would say is the most risky investment you can make. It is an extremely high risk. I've actually sold all my bitcoins recently and switched to bitcoin cash, "he says.
The reason why Oldenburg chooses to invest in the newer cross-currency bitcoin cash is, like most in this industry, complicated. In short, though, there is a limitation on how many transactions bitcoins can be done in the second, seen as the "block" design.
The result will be very high fees and long waiting times for transactions.
"It costs a lot to transfer bitcoins to and from the stock exchanges. When I sold my BTC I had to pay 50 dollars and wait 12 hours for the transaction to go through because of this. It's completely unreasonable, "he says.
In other words, the charges and transaction times make the "currency" turned out to be unusable in practice.
The rate could potentially increase if changes are made. But according to Emil Oldenburg, there are no plans to implement such changes in the old BTC network.
"It's a group of fanatic bitcoin talibans who themselves do not use bitcoin everyday to want it like this. They see bitcoin like digital gold and a technical experiment, not something you should actually use. It will never be a currency used in everyday life or for people who run companies. "
1007/5000 595 tecken för mycket (får vara högst 5000 tecken):ÖVERSÄTT MER e väldigt höga avgifterna och långa väntetiderna vid överföringar. Helt enkelt eftersom de flesta bara har köpt på sig bitcoin – men aldrig sålt eller handlat med dem. “Folk har inte fattat det. Så fort folk inser att det är så här det fungerar så kommer man att börja sälja av.” “Det gamla bitcoin-nätverket är så gott som oanvändbart.” Du tror alltså inte att bitcoin kommer att bli den världsvaluta som vissa hoppas på? “Nej, det tror jag inte. Inte så länge nätverket styrs av den här gruppen som jag nämnde. Det är hos bitcoin cash som lösningarna finns, det är där jag ser en framtid.” "We have actually stopped developing new services for the old bitcoin network now and focus mostly on bitcoin cash. There it only costs 10 öre to send and no waiting times. The only backside is that bigger hard drives are required, but it's not a problem for most. "
According to Emil Oldenburg, the vast majority have not yet understood that bitcoins in practice have very low user-friendliness, due to the very high charges and long waiting times for transfers. Simply because most have just bought bitcoin - but never sold or traded with them.
"People have not taken it. As soon as people realize that this is how it works, one will start selling. "
"The old bitcoin network is virtually unusable."
You do not think that bitcoin will be the world currency some hope for?
"No I do not think so. Not as long as the network is controlled by this group as I mentioned. It's at bitcoin cash that the solutions are there, that's where I see a future. "
"TLDR": BTC equals to high transaction fees and long wait times, Bitcoin cash is the future and "The old bitcoin network is virtually unusable."
'''
CTO of bitcoin.com: "Bitcoin is virtually unusable" "Bitcoin Cash is the future"
Go1dfish undelete link
unreddit undelete link
Author: TexBoo
1: www*br*akit.se/**ti*el/*03*2/sv**sk**oldi*-b*ko*-bi*coin-**m-bitcoin-a*-*anvandbart-jag-h**-sal*-***t
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

[uncensored-r/Bitcoin] CTO of bitcoin.com: "Bitcoin is virtually unusable" "Bitcoin Cash is the future"

The following post by TexBoo is being replicated because the post has been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7jd148
The original post's content was as follows:
--This article was in my news fee on my phone when I swipe to the side from BreakIT (Swedish news?)
Article is in swedish and is located here: https://www.breakit.se/artikel/10332/svensk-doldis-bakom-bitcoin-com-bitcoin-ar-oanvandbart-jag-har-salt-allt
Is this simply a scare scheme for bitcoin users so the CTO (Emil) hope that BTC prices go down a bit so he can buy more? He says that Bitcoin Cash is the future
Below is just Google translated from the article.
The office is small and colorless. A room, a few chairs and tables, computers. On one wall, television screens with crypto exchange rates are being updated in real time.
Bitcoin.com's Tokyo premises are far from any glamorous tech office at La Stureplan.
However, very large sums of money flow through the premises, there is no doubt.
Emil Oldenburg, co-founder and technical director at bitcoin.com, has lived in Tokyo for the past three years. He reports that several of the company's employees have become major winners of the sharp increase in bitcoins in recent years.
"We pay all our 60 employees in bitcoins," explains Emil Oldenburg.
"All my salary over the last three years has been in bitcoin."
A smart move, with a hand in hand.
Bitcoin.com is a site that revolves around everything that has to do with bitcoin. The company, which has its headquarters in the paradise island of St. Kitts, has news writers guarding the bitcoin world, an online casino for people who want to play with their bitcoins and break their own bitcoins via a so-called "mining pool".
The company has several types of revenue bones linked to the site, but the latter branch, the creation of new bitcoins, is the big deal.
Emil Oldenburg does not want to reveal any figures, but says that it is "terribly a lot of money".
"But then we have miners who are connected to us who always have to pay regardless of whether we manage to break a few blocks. Sometimes we go plus, sometimes back depending on how many blocks we break per month. It will be a bit like a lottery for us "he says, without revealing how much he himself has drawn onto the bitcoin sharpen.
As most people know at this point, bitcoin technology is complicated. But simplified, a "mining" in their network is a person who helps to develop new bitcoins.
"One example is that it is run by people aged 25-40 who live somewhere where there is cheap electricity, such as China, and has type 10,000 computers in a giant server hall. It's a very big operation, and usually people have capital investors in the back, "says Emil Oldenburg.
Bitcoin.com was launched in 2015. Bitcoin Investor Roger Ver had bought the attractive domain for a secret bitcoin a few years earlier, wondering if Emil wanted to help him build the business.
Today, the company has several million unique visitors each month, according to its own task.
The fact that the interest in cryptography and blockchain technology has exploded since its founding is no doubt. Emil Oldenburg, who previously joined the Swedish bitcoin broker Safello, said that there are very many "jokes" in the industry today, and he raises a warning's finger for anyone who wants to enter the race.
It's got to be really source-critical, he explains.
"There was something that annoyed us quite a lot at Safello when we started it. We did everything properly, to get all the permits you needed. At the same time as many other kidders came off shortcuts and do things oscillously."
In addition, he raises an extraordinary warning finger for the most sharpened cryptovalutan of all of them - that is, bitcoin, BTC.
"An investment in bitcoin right now I would say is the most risky investment you can make. It is an extremely high risk. I've actually sold all my bitcoins recently and switched to bitcoin cash, "he says.
The reason why Oldenburg chooses to invest in the newer cross-currency bitcoin cash is, like most in this industry, complicated. In short, though, there is a limitation on how many transactions bitcoins can be done in the second, seen as the "block" design.
The result will be very high fees and long waiting times for transactions.
"It costs a lot to transfer bitcoins to and from the stock exchanges. When I sold my BTC I had to pay 50 dollars and wait 12 hours for the transaction to go through because of this. It's completely unreasonable, "he says.
In other words, the charges and transaction times make the "currency" turned out to be unusable in practice.
The rate could potentially increase if changes are made. But according to Emil Oldenburg, there are no plans to implement such changes in the old BTC network.
"It's a group of fanatic bitcoin talibans who themselves do not use bitcoin everyday to want it like this. They see bitcoin like digital gold and a technical experiment, not something you should actually use. It will never be a currency used in everyday life or for people who run companies. "
1007/5000 595 tecken för mycket (får vara högst 5000 tecken):ÖVERSÄTT MER e väldigt höga avgifterna och långa väntetiderna vid överföringar. Helt enkelt eftersom de flesta bara har köpt på sig bitcoin – men aldrig sålt eller handlat med dem. “Folk har inte fattat det. Så fort folk inser att det är så här det fungerar så kommer man att börja sälja av.” “Det gamla bitcoin-nätverket är så gott som oanvändbart.” Du tror alltså inte att bitcoin kommer att bli den världsvaluta som vissa hoppas på? “Nej, det tror jag inte. Inte så länge nätverket styrs av den här gruppen som jag nämnde. Det är hos bitcoin cash som lösningarna finns, det är där jag ser en framtid.” "We have actually stopped developing new services for the old bitcoin network now and focus mostly on bitcoin cash. There it only costs 10 öre to send and no waiting times. The only backside is that bigger hard drives are required, but it's not a problem for most. "
According to Emil Oldenburg, the vast majority have not yet understood that bitcoins in practice have very low user-friendliness, due to the very high charges and long waiting times for transfers. Simply because most have just bought bitcoin - but never sold or traded with them.
"People have not taken it. As soon as people realize that this is how it works, one will start selling. "
"The old bitcoin network is virtually unusable."
You do not think that bitcoin will be the world currency some hope for?
"No I do not think so. Not as long as the network is controlled by this group as I mentioned. It's at bitcoin cash that the solutions are there, that's where I see a future. "
"TLDR": BTC equals to high transaction fees and long wait times, Bitcoin cash is the future and "The old bitcoin network is virtually unusable."
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

ELI5: What kinds of things could the Banks use the Blockchain for, and what effect would this have on the price?

Reading this article I get a lovely warm moony feeling in my stomach, but then when I think about it I can't see how it can affect bitcoin or it's price much.
Anyone have any speculations?
submitted by Apollo_Moonwalker to Bitcoin [link] [comments]

CEO Frank Schuil on how Safello exchange aims to make bitcoin safer and more compliant The Safello Show #0 - Coinmarketcap acquired by Binance and influence of COVID-19 on crypto The Safello Show #2 with David Hedqvist, founder of bitcoin.se How to buy crypto in less than 60 seconds with Safello Hur du kan köpa bitcoin på Safello på 30 sekunder - YouTube

Our price includes all the banking, forex and operating fees, so there are no other fees or added costs you need to worry about. Fees: We have the following fees when buying on our website: Swish: 7% Bankgiro: 4% SEPA: 4% Sale of bitcoin: 3. Powered by Safello: Before you make a purchase with a partner, you will see the total fee. Partners can set their own fees and they may vary from those on ... Safello says it does not charge commission, but rather uses the “spread model”, which means that all fees (banking, forex fees, etc.) and commissions are included in the buying and selling price. Our check revealed that the buy and sell prices offered by Safello are around 6.5% higher and lower, respectively, than the average market price of Bitcoin. For Safello, all of the fees are included in the total price. Skip to content. Fintoism. Daily Finance and Crypto News. Primary Menu. Fintoism. Home; Cryptocurrency; Fintech; Finance; Blockchain; Metrics; Markets; Search for: Cognition Exchanges Buying Bitcoin in Sweden: Safello 7 months ago JP Buntinx . When looking for platforms to buy Bitcoin, it is often best to start in one’s own ... Safello is a cryptocurrency exchange that provides users with the option of buying and selling Bitcoin from the platform. They operate all over Europe and offer fast transactions that help avoid exposure to market volatility. The exchange is fully regulated by Sweden's Finance Ministry. The high liquidity of Safello ensures prices are close to a fair market rate. The exchange platform is basic ... Since 2013 Safello is registered as a financial institution with the Swedish FSA, Finansinspektionen, and complies with the Anti-Money Laundering and Counter Terrorist Financing Directive. Payment methods . Bitcoin can be purchased with a variety of payment methods. In Sweden, the most popular ones are Swish, SEPA and Bankgirot. Direct payment options also help to buy Bitcoin instantly and ...

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CEO Frank Schuil on how Safello exchange aims to make bitcoin safer and more compliant

SUBSCRIBE for daily analysis and tips and Show your support by commenting below. Frank Schuil, CEO of Safello a safe and simple bitcoin exchange for European customers chatted to Crypto Finder at ... In this episode of The Safello Show, our host, Frank Schuil is joined by the co-host, Niklas Lundback and the special guest David Hedqvist who is the founder of bitcoin.se. Together they will take ... Founded in July 2013 Safello set out to bring greater compliance and security to the Bitcoin industry. To date thousands of customers from 40 different count... Lär dig köpa bitcoin hos Safello. det tar bara 30 sekunder. https://safello.com/sv/bitcoin/kop/ In this special English episode +Tuur Demeester gives us his take on the further deterioration of the bitcoin price. +Frank Schuil, CEO of Safello.com, a Swedish bitcoin exchange backed by Roger ...

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