This is the SECOND comparison of OSOM to the most popular platforms out there (you can check how OSOM wallet and aggregator stands here) such as Delta.App, BlockFolio, Bit4you, Bitstamp, Coinbase, or Coinomi. This time we are comparing Exchanges and especially, Euro to Virtual Assets conversions. Again, we are happy to discover, that OSOM is your best choice for going from EUR to BTC or ETH and back, but see it yourself.

Access from anywhere

OSOM app is compatible with iOS and Android operating systems, and you can also use it on the web. Many other portfolio trackers like, for example, BlockFolio and Delta.App don’t offer a web application, which limits users’ experience.

More crypto for your Euros

With no deposit or withdrawal fees, just a fixed 1,5% for the exchange.

There aren’t many options for buying Bitcoin or Ethereum for Euros. You can either go to Exchange (in our comparison - Bitstamp) or a Retailer (like Coinbase).

We make it simple, OSOM ditches complex trading procedures and make them simple for everyone to understand - whether you’re an expert or only a beginner. If you are not an active day trader and just want to get your hands on some BTC or ETH to participate in the new economy, you need an easier solution. We think the Euro to Bitcoin or Ethereum experience should be as easy as buying some British Pounds to go on vacation (you would probably do that at a bank or an airport, definitely not on a Forex Exchange platform!)

Our model is more similar to Coinbase, just much cheaper. When you want to buy from Coinbase, Coinbase goes to its own “real” exchange called “Coinbase Pro” and puts an order there on your behalf. So you only get the price available at Coinbase Pro, and they charge you some sweet fee (you can easily get to 5%) for the service. We connect to more exchanges: that way, if the price+exchange fees are lower at one exchange than another, we can get you the best deal.

Because the prices can vary quite a bit from one exchange to the other, and so can the fees.

We’ll talk about fees later, but already to give you an idea idea about prices, here is what prices were like on Nov 8 at 9 am in Brussels (data taken from coinmarketcap). They range from $9,126.42 to $9,475.33 - a $348.91 difference; so where you buy it matters:

We’re not even going to talk about “instant” buying with a credit card through Changelly or Simplex. The fees get up to 10% + some other fees + maybe some fees from your credit card company (if the credit card company allows it at all, which is not a given). Services like that provide a valuable service, but we think a lot of people can have better options than that (and we are looking to support cards in addition to SEPA payments, but we won’t make it available until we can find an acceptable fee to offer you. It will be more expensive but we categorically refuse to offer you an option with 10% fees).

So OSOM, on your behalf, finds the best price across several exchanges and adds a fixed 1.5% fee for the service. This fee covers:

• the exchange fees (which thanks to our volumes are lower than if you were going at it alone :) )
• the withdrawal fee (getting the ETH or BTC from the Exchange back to our own wallets
• maintaining bank accounts to receive your Euros
• the Blockchain Network Transaction Fees to get you your BTC and ETH to your wallet

(Remark : it does not cover the Network fee you need to pay to send us your ETH or BTC if you are selling through us. That’s just how the blockchains operate).

With no Deposit or Withdrawal fees, our fee is probably the easiest low fee to understand in the market. You don’t have to worry about maker fees, take fees, deposit or withdrawal fees. It’s 1.5% when you trade. That’s it.

A fun fact: Coinbase has raked up to USD 2 Billions in fees since 2012. That has allowed them to grow, become profitable and invest in a lot of good product development and good things for the Crypto community. That’s cool. But we think it should be more affordable to acquire assets to participate in the Decentralised Finance (DeFi) Ecosystem. So Coinbase charges a lot with avery complex fee structure (most likely you won’t know the exact cost until you actually attempt to initiate a buy or sell order); we decided to charge little and be super transparent. For us the exchange is not the main revenue source, it’s our way of helping you cheaply access the new opportunities offered by DeFi. But there is a fee because we want to build a sustainable business, not run a subsidy program. We might adapt the fee up or down from time to time to reflect changes in the banking or exchange markets or if our volumes get big enough that we get great discounts from exchanges or can match trades internally. And we will stay super transparent about why that happens if it does.

When is it better to buy through us?

If you are curious to convert a couple hundred or thousand euros into BTC or ETH, we’re pretty sure you won’t find a better deal elsewhere; at least not if you value your time and energy (ie: you don’t spend all your time opening accounts at various exchanges, and rebalancing your accounts across them all). If you have a couple of Bitcoin or Ether to liquidate, we’re probably a good solution too.

Of course, if you are a whale, that you have 10K bitcoin and 60K Ether and your main occupation is day trading, then you probably have better options setup already (and we’re frankly surprised you read this far :) ) — but if you do want to come through us, we’ll be honored to have your business and if our limits are too low, get in touch.

Examples speak better than any words, so let’s make a little calculation for… Bob :) Bob is Belgian and wants to buy €100 worth of Bitcoin and put it in a wallet that’s his. For the sake of clarity throughout the article, we’ll keep the same reference prices as in our example above (but converted to EUR) — here is the table

Depending on where Bob goes shopping for BTC, here are the various scenarios that could play out:

1. Bob goes shopping at Bitstamp. Price, fees included, is 8,218.69. For €100 deposited, Bob gets BTC 0.01216739 - BTC 0.0005 for withdrawing = BTC 0.01166739 in his wallet. Real total fees paids are: 0 for SEPA Deposit, 0.5% for trading, 0.0005 BTC for withdrawing (at the price = € 4.1)

2. Bob goes shopping at Coinbase (the retailer, not the exchange “Coinbase Pro”). Price of BTC on Coinbase Pro with fees (0.5%) + 0.5% spread + 3% fee (it could be higher, but let’s be nice) = €8517.0978. For €100 deposited Bob gets BTC 0.01174108 - BTC 0.00003825 of Network fees to repatriate it to his wallet = BTC 0.01170283 in his wallet. Real total fees are: 0 Sepa deposit, 0.5% Spread, 3% exchange fee, Network fees for withdrawal - at the time of writing a recommended amount would be 0.00003825, or around € 0.30

3. Bob goes shopping at Changelly via Simplex. It’s a little complicated to exactly figure the pricing structure, but they declare 7% to 10% fees with a min of £10. When accessing the quote, here is what it looks like

The quote is temporary, they can’t guarantee that’s the price buyer gets (and it’s understandable, the market moves fast while the cards network not so much), but if you look at the amount of BTC and try to sell it at the Bitstamp market price, you’d get around €88.23. That’s €11.77 that just went to intermediaries. We no likey. So for 100€, (hopefully) Bob gets BTC 0.01073563 in his wallet.

4. Bob goes shopping at Bit4You (we don’t get the Bit4you data from coinmarketcap, so for the sake of argument let’s just assume the spot price is the same as at Kraken, or EUR 8191.0). Bob deposits €100, now he has €98 left. Exchange into USDT (0.5% conversion fee) and it’s €97.5 “euro equivalent” left. The exchange at the market rate, Bob gets 0.01190330 BTC in his Wallet. Bit4you is nice and pays your Network fees so you get to keep it all. Real total fees are: Fees are: 2% fees for deposit, 0.5% Eur-Usd exchange, 0% crypto-crypto trading fee

5. Now, Bob tries OSOM: Bob goes to the “exchange” page, selects 100€ and selects “buy BTC”. We will buy BTC for Bob at the best price we can find and deposit it on his personal OSOM Wallet. If we take the prices from above in the article, converted from USD into EUR, that means we take the following:

To the price we add our 1.5% fee. So we will sell the Bitcoin at 8177.8*1.5% = EUR 8300.46

For his 100€ Bob gets 0.01204752 BTC in his wallet.

So, for Bob, what does that look like in the end? OSOM is the cheapest option. Buying through OSOM will save Bob between 0.88% and 10.44% percent compared to the other options presented. In the order we presented them:

From cheapest to most expensive:

So if you casually want to buy some BTC or ETH and not open accounts with plenty of exchanges and maintain a balance with each of them to switch from one to the other to get the best prices, let us do the research and execute where it’s best and just cover our tiny fee. We’re happy to help.

In this article, we let the numbers speak - it’s a definite win. But the true osomness of time and energy savings comes, when you take into consideration the built-in OSOM Aggregator and Wallet features not available anywhere else: free, cross-platform, easy to set up and secure multi-currency wallet, free aggregator supporting unlimited exchanges and public addresses and unlimited virtual assets with more features coming soon.

We believe that even the most advanced users will benefit from the fast, easy, and well-priced option that OSOM is offering today and will use it as a day to day portfolio tracking tool. Go on and compare us with the competition yourself.

Ready to try and give us your feedback? Download the app, set up your profile, pass the ID verification flow, add your assets - send suggestions to [email protected] or within the app!