I've been using the new EasyDex service now for a few weeks and I believe that it might just be the cheapest way to buy crypto around.
Ingredients required:
- A bank account
- A revolut App on your phone
- A Bitshares account
- A Telegram account
Method:
- Send money from your bank A/C to your Revolut A/C (Cost: free)
- Convert in Revolut from £ to Euros (Cost: at market rate, far cheaper than your bank will do it)
- Send from Revolut to EasyDex Ltd bank A/C in Bulgaria, details here: https://exchange.easydex.net/deposit-withdraw/.
This will take some time, sometimes a few hours. EasyDex admin will inform you on Telegram once they've received funds (Cost: free) - Easydex.Euro amount will now appear in your EasyDex account. The team will then make sure there's enough BTS in the exchange to make the swap. Swap Easydex.Euro for BTS (Cost: VERY low bitshares fee, fractions of a penny + small spread)
BINGO:You've just gone fiat to crypto for almost ZERO fees, and no need to verify your I.D if sending less than £5,000-a-month.
I tested this out this week with £250 and it worked like a charm. It's still a little clunky compared to being able to do it with a few clicks on a Coinbase App, but it's far far cheaper (and anonymous). It's also a great Bitshares gateway...before you'd have to buy BTC, go to an exchange, swap for BTS then finally send to Bitshares.
Stop Press: This is ALSO a method for going crypto to fiat at very low fees (but you WILL need to verify your account for this)
The Steem/SBD gateway will be added soon.
Disclaimer: I own some Easydex tokens, so I will benefit from any trade volume on the exchange