Problems purchasing ICX. What are some better ways to buy?
I'm writing this for 2 reasons. 1) To find a better way to buy ICX and 2) Help others who are newer be able to buy ICX.
First off, I am a US citizen. So here's what I did. I just opened an account on Kraken. In the past, I would have used Binance, but that isn't an option for me. (Does VPN get around this still?). Because it's a new account, it would take a few days to be able to deposit USD into my account on Kraken. So I decided to buy ETH on coinbase pro and send it to Kraken.
I wanted to buy 1175 ICX which at that time was around $1.92 each, for a total of $2256 USD. 1 ETH was around $1902, so I would need to buy 1.19 ETH in order to buy 1175 ICX. So I ended up buying 1.194 ETH (the extra 0.004 ETH is a network fee to transfer from coinbase to kraken). Then I send that over to Kraken.
When the ETH arrived on Kraken, I only received 1.183 ETH. I don't really know why I lost 0.007 ETH, but I assume it's a transfer fee from Kraken (which is weird because I thought it wasn't supposed to have any transfer fee). Then I traded all of that 1.183 ETH to ICX and I ended up with a grand total of 1111 ICX.
From the beginning of my purchase at Coinbase, I had calculated the correct amount of dollars I needed to buy 1175 ICX, but in the end, I ended up with 1111 ICX, which represents a loss of about 5.5% or roughly $125. It felt bad enough that I thought I need to really reevaluate how I purchase crypto moving forward.
To be fair, during this entire process, which took between 20-30 minutes, I did notice the price of ICX had risen from $1.92 to $2.00. I did not pay attention to the ETH price too much. I understand that this change in price along with fees caused a lot of the loss. My main question is, what are some better ways to buy ICX where I don't have to pay all these fees.
TL;DR: Wanted to buy 1175 ICX but ended up with only 1111 ICX. How can I reduce my losses when buying ICX or other crypto in the future?
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