This will sound dumb, but-- Bitcoin

Can't find this anywhere, so it must be a really dumb question. If I want to buy something for 145 in US dollars, but pay for it in Bitcoin, I go into Bitcoin and find out I can get only get 129 worth for my $145. So when the order form says something is "145 us dollars," does it really mean "175 or however much they charge you to buy 145 in Bitcoins?"

All confused, because if the order form says 145, and it costs you 175, isn't the price really 175? Or is it perfectly logical because of bitcoin fluctuating that any dummy would know you really pay more, and this is a dumb question?

I'm in the midst of buying now, so if anyone has a minute to tell me "Yes, it's however much 145 costs you at Bitcoin, so
don't count on it being 145 in the long run," I'll understand and go on with my business. Thanks

Comments

  • The price will always be the .000whatever it tells you on the page and email they give you with what bitcoin wallet to send it to.

    The actual value of the amount of bitcoin you send will change throughout the day. The site you get the bitcoin from can charge a purchase and transfer fee, some better than others.

    For example, I buy $200 worth on the cash app, I only end up with 197 worth of it. When you send it out, if the site you use charges a fee to send, they take it out of your wallet.

    I always buy 5-15$ more than I need and it usually ends up as spare change in my wallet which will be nice if bitcoin prices spike again

  • edited July 17

    Always buy a little extra to cover volatility. Also remember there are conversion fees. I kept some in my wallet when bitcoin was struggling. That little bit tripled over the past months. In the end you mostly break even it seems. Like weedguy said, pay the bitcoin fractional that you get in the email. Not the dollar value you purchased. You can actually ignore the USD$ amount completely when paying.

  • Thanks Weedguy and Funkynugz, your explanations are better than what I could have written myself!

  • Depends on where you buy your bitcoins from. Some places will simply subtract their fees from what you order leaving you with an insufficient amount of bitcoins to pay MM. Other places will add fees to what you want to buy so that you'll pay a higher amount but get the full amount of bitcoins you need. Read the fine print or ASK ahead of time. I use bitquick. The amount you need is exactly what they send. But they add their fees upfront so I pay slightly more than the price MM quotes you.

  • CashApp is easy and smooth as well to get and send bitcoin

  • Great stuff. I'm learning. Thx, everyone.

  • LifeLong14 with cash app, how long does it normally take to get your coins after the pay. Cash app is the one where and can pay using debit/credit, right?

  • Yes it is, and in my experience I was able to withdraw within a few hours. Here are their instructions:

    https://cash.app/help/us/en-us/3106-bitcoin-withdrawal-instructions

  • I tried a different one this time.
    Thank you!

  • im spending a lot of time getting verified

  • That happens when there's a lot of demand for Bitcoin. Sorry about this but I promise, with patience you'll get it!

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