Bitcoin Questions

[squirtalot]

So I've got a fulltime vanilla job now however I'm trying to knuckle down and come back to camming to boost my income. My plan is to have my cb earnings sent to a bitcoin wallet. Now here are my questions:
How does it work (lol!) ? Since I'm based in Europe, I'm having a nightmare verifying my Coinbase account as they don't accept residence cards as ID (wtf). So I'm looking to other options
I created an account with Kraken, which I hear is great for Europeans. Its not a wallet however, so CB can't send my payment there? Or can it? I don't know I'm confused.
I've read about Exodus as a wallet. Is it any good?

Help would be much appreciated!
And how much does CB charge per bitcoin transaction, btw?

 

[Nigerian Prince]

Basically at the end of every payment period CB will calculate the value of Bitcoin and send you the USD equivalent to the address you chose. You can then exchange that for whatever your local currency is on an exchange Amir any other platform that allows you to do that. In some places using a Bitcoin ATM might be an option.

Some exchanges can be used like a wallet, which is ideal if you don't plan on holding Bitcoin and want to sell it immediately after getting paid. I'm not sure if it's possible on Kraken though.

Bitcoin payments use to only have a $3 fee, but it was recently changed to 0.0005 BTC, which at the current moment is around $28.5

 

[AmazingAlexaNY]

wait i am confused lets say i earned 200$ how much would i get back?

edit due to my mental health and other personal reasons i can't have my own bank account or credit card. so i can only do bitcoin and then put it in my pay-pal


i have a bank account but it's just for my ssd and my payee i cant handle my bills so i have a payee

only don't judge me please...

 

[Nigerian Prince]

wait i am confused lets say i earned 200$ how much would i get back?

edit due to my mental health and other personal reasons i can't have my own bank account or credit card. so i can only do bitcoin and then put it in my pay-pal


i have a bank account but it's just for my ssd and my payee stuff.

With current fees based on the current price of bitcoin, you would get back around $171.5. The current fees really suck because you basically lose more money if Bitcoin does well....

 

[AmazingAlexaNY]

oh man.....

 

[yummybrownfox]

Fun fact: Stephen Colbert interviewed Mila Kunis, talking about how her husband Ashton Kutcher is very smart and was always making investments...and coming to her with these ideas (including Uber and Bitcoin). She said they got into the Bitcoin thing 8 years ago.

 

[squirtalot]

Okay, so I don"t plan on cashing out the bitcoins except in the case of an emergency. So how could I go about doing that? Could I link my Kraken account to CB or is Exodus better?

 

[Sun_Sun]

With current fees based on the current price of bitcoin, you would get back around $171.5. The current fees really suck because you basically lose more money if Bitcoin does well....

yeah, current rates suck. It used to be my favorite payment method. now it is only valid if the destiny of those satoshis is to be hold.