Check the price when purchasing coin.

EODzealot
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Check the price when purchasing coin.

TLDR: Before you purchase make sure the price is around the actual Bitcoin price and not some inflated price, specifically binance. Make limit purchases.

The main reason I'm making the post is to shine some light on this for those of you that have recurring purchases. I think those recurring purchases are most likely getting you less coin than you should be getting and you might not even notice.

About two weeks ago I made my weekly purchase of $50 of Bitcoin. I never really pay attention to any of the details I just do it really quick when I have time (that's on me I'm not looking for sympathy). I noticed after the purchase that the price of coin I got in my quote was around $21,2xx while Bitcoin was still at around $20,3xx. I thought wow that must surely be a typo or something but it wasn't. After emailing back and forth with binance this is what I learned (I'm sure most of you old heads already know this):

Binance farms out the easy purchase portion to third party traders. They don't check them in any way and they don't seem to care what price they offload to the consumer. I can appreciate if it was up a little but it's not even close to the running price.

If you want to ensure you get your money's worth, use a limit purchase. I know this has been said in here before.