My question basically is what is the cheapest way to buy crypto currencies?
So far I checked out coinbase and binance. There are different ways to buy crypto currencies. First decision regarding the money deposit is between SEPA cash deposit or buying directly a crypto currency with credit card.
I first thought that money deposit with SEPA and then buying crypto (btc and some minor known currencies) with my cash balance should be the cheapest way. While the transaction fees of the money deposit via SEPA are neglectable I had to learn that the spread for buying with this cash balance in my account is wider than I expected. For example, when I want to buy BTC with 1500 Euro from my cash account, on coinbase I get
0.07081804 (and I see that there is a fee of 22,35 Euro) while on binance I would get
0.071114. This is approx. equivalent to 1.477,54 Euro. So there is some spread, at least something like 20/30 Euro.
I then discovered that payment with credit card seems to be cheaper. However, in the last step it displays an additional 2% (30 Euro for a 1500 Euro amount) which is even more.
I know that there is also the possibiilty of P2P and spot trading. For P2P there are also transaction fees, which are - as far as I could see - are not cheaper. Spot trading seems to be cheaper when I buy a crypto currency with another, however not, if I want to pay with cash. Or am I wrong?
So which combination of deposit option, payment method and exchange would be the cheapest way to buy bitcoin (and other crypto currencies, which are not that much known)?
My geographic region is Europe.