Venmo or bitcoin? Which is cheaper

[josh]

I see alot more sponsors accepting venmo. Is it cheaper to use? I know using bitcoin if I add money to my account within a matter of seconds I can lose a lot of money before I before I try sending bitcoin off, and then I pay transaction fees on top of it to send it.

 

[MBTJR1980]

Venmo is much cheaper bro its linked to your bank acct so when you send payment its like using your debit card. Super simple and easy. Fk bitcoin its a rip off and hassle.

 

[josh]

Yeah bitcoin charges me like 4 or 5% to add money to my account if I want my funds available instantly, or they still charge upwards of like 1.5 to 3% if you want to wait 7 to 10 days for your coins, plus you gotta pay transaction fees… im tired of it
And if you wait 7 to 10 days bitcoin can fall threw the floor and you can lose about half of what you were going to try and send a sponsor!

 

[MBTJR1980]

Stick with sponsors that offer Venmo

 

[josh]

And actually that’s the whole reason I asked to begin with was because I saw accepted Venmo and I wanted to go that route, but I had to burn up some funds I had in coinbase!
Ever tried trading out litecoin and ethereum into btc? Not fun and not cheap!

 

[GlycogenGuy]

Bitcoin is very volatile because of the volume of trades. I was buying bitcoin since 750$ rode it to 20k now watch the roller coaster. The less popular cryptos are less volatile but you can wake up one morning and it could be all gone. Bitcoin is the safest in that sense but for hour to hour stability it’s the worst. If Bit does well 95% ofvthe others also do well and vice versa.

 

[josh]

True, I watch the charts on them all and if you want to see how each of them are going to fluctuate just watch bitcoin… bitcoin graph will determine almost exactly what they all are going to do

 

[KodiakGrrl]

In my opinion I would never accept venmo and would look at it the same way if a vendor accepted pay pal… security issues like that are unacceptable … those payments are attached to a bank account on the other end with detailed records … just something to think about

 

[josh]

Good point KodiakGrrl, point well taken

 

[KodiakGrrl]

look at using a different wallet there are services out there that are tried and true that aren’t us based and coinbase often closes accounts arbitrarily …

 

[josh]

What about if you went and got one of those pre paid green dot cards from Walmart… that could work for Venmo couldn’t it?

 

[GlycogenGuy]

What’s nice about bitcoin is that you can buy it at an ATM. The government HATES crypto especially Bitcoin because Bitcoin is truly decentralized. Look now Coinbase doesn’t accept credit cards anymore. I see that government will do what’s needed to have some control.

 

[KodiakGrrl]

I don’t use it …

 

[josh]

Coinbase doesn’t accept credit cards anymore but they will allow you to add your debit card

 

[GlycogenGuy]

Yeah well I should have clarified I think it’s Visa and Mastercard that put a stop to it. What they did was that these Coinbase transactions are now classified as a cash advance do they can add an additional 5% charge and stop using bank accounts because it’s a long wait and a very low commission. Pathetic!

 

[KodiakGrrl]

coinbase sucks …

 

[GlycogenGuy]

Don’t do it! You will get hit with a nice fat commission fee.

 

[GlycogenGuy]

I use Airbitz

 

[josh]

Oh, trust me I know about those commission fees!

 

[GlycogenGuy]

WU is my favorite. It’s expensive but convenient.