How can a noob understand 'where their money went' when buying from bittylicious?

0

Complete newbie, trying out bitcoin for the first time (probably like everyone else in the world this morning).

Wanted to spend the maximum allowed for a new user - about 43 pounds.

When the full transaction details came up, I was being offered to buy 2.9 mBTC for this amount - at the bitcoin rate at the time, that was only about 33 dollars' worth of bitcoin - so, about 24 pounds!

On the face of it, the transaction results in me losing half my money! How can I tell where that money 'goes'? Is it a transaction fee, or am I somehow just paying a strange price?

user66787

Posted 2017-12-03T12:33:49.247

Reputation:

Can you share the transaction id? – remedcu – 2017-12-03T13:01:38.257

@asterisk https://blockchain.info/tx/5d86a7641a5b729708f27ffe41c195a3ec9beb0f3ee270ed381cc02cd114670d

– None – 2017-12-03T13:37:46.757

Answers

0

From the transaction link provided (link)

You can see that fees was just below $2 for this transaction:

enter image description here

So the rest (about 18 pounds) have been taken as a commission/fees for using their interface.

I would suggest you to try some other website to buy BTC, as you are paying a very high fees to buy BTC.

remedcu

Posted 2017-12-03T12:33:49.247

Reputation: 1 003

Asked: 2017-12-03T12:33:49.247

Viewed: 55 times

Active: 2017-12-03T13:55:39.617