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About Me



Found 6 results

  1. Hello everyone, can you help me to identify about lowest fee exchanges? Till now I have seen binance has 0.1%, thanks
  2. We run a small bitcoin exchange-platform where you can buy bitcoins: Currently we give the cheapest btc price our algorithm can find, directly to the customer and only charge a fixed transfer fee of 5€ ( ~5.50$ ) per exchange. Therefore, we would like to know what you find better: A fixed or percentage fee per exchange? Fixed fees are better for great investments while, percentage fee is better for smaller btc amounts. Whats your opinion? 🤔
  3. Ethereum network transaction fees are counted as gas used multiplied by gas price. Gas used is given by complexity of task, transfering ETH is exactly 21k while transfering complex ERC-721 tokens might use around 400k gas. There is not much you can do about this part (gas limit work mostly only as failsafe against endless cycles and I do not recommend tinkering with it unless you are an expert) Gas price is much more interesting - this is where you compete against other users incentivizing miners to pick your transaction and inlude it into blockchain. And other users as a whole likes certain numbers. 1gwei is big one since its lowest gas price many miners agree to include into blocks, lower gas prices makes transactions VERY slow. 1 gwei however gets the job done once there is no high demand for fast transaction (might be minute or also hours or even worse) Now comes second part of the puzzle - wallets like to add 10% to gas price when you want to speed up you transaction, that together with favourite numbers makes transactions clump together on certain gasi price levels and if you add just little bit more you will have priority over them for near zero cost. Examples: 1gwei -> use 1.001 1.1gwei (1x speed up on 1) -> use 1.101 1.21 gwei (2x speed up on 1) -> use 1.211 2 gwei -> use 2.001 2.2 gwei (speed up of 2) -> use 2.201 4 gwei (kinda favourite) -> use 4.001 4.4 gwei -> use 4.401 8 gwei (another favourite) -> use 8.001 8.8 gwei -> use 8.801 10 gwei (big favourite) -> use 10.001 11 gwei -> use 11.001 20 gwei (lot of ppl use this if they want very fast tx) -> want lightning fast tx? use 20.001 or in general take anything your wallet suggests and add small fraction (like 0.001 gwei) to make any transaction faster (sometimes very significantly) by jumping ahead of all those transactions clumped at favourite gas prices. And it costs virtually zero ( to be exact 0.000 000 021 ETH for ETH transfer, which is around 0.000 003 USD in todays prices)
  4. Note: I was considering to create a tutorial about how I minimize the withdrawal fees when operating with BTC and my first option was posting on "Tutorials", but due this is something that is mainly useful regarding exchanges, I finally posted here. Please, mods and admins, if you consider I should move this post, let me know. Greetings, everyone. Since I had to move some funds between exchanges, I started to study the best strategy to make every move the less costly as possible. Here are the results of my research. Some considerations before starting: Exchanges are the best option to earn money active and sometimes passively. Trading provides great profit to those who knows how to make a correct interpretation of the charts, and have enough capital to invest and trade safely (this is, without compromising most of it and only assuming risks on the quantity you are willing to lose and you don't really need for living) Exchanges shouldn't be considered wallets. Most of us have our capitals in exchanges because value volatility (we want to sell when as soon as possible in case the price drops) and this is a common error. There are cases like KuCoin or BitFinex that shows greatly the impact of hackers and cyber-attacks on the exchanges. I suggest you to check some articles about this issue, for instance this cointelegraph magazine one (note it's a bit outdated, due considers KuCoin an unbeaten exchange) Once said this, here we go. As you may know, most of exchanges have features that make them unique. Some are easier (in terms of price, conditions and interface), others offer better advantages, saving and stacking benefits, discount using the exchange currency and multiple promotions, pools, launchpads, etc. Because of this, many times we will need to allocate different funds in more than one exchange and transfer part of our funds from one to another. The problem is, transferring BitCoin (among other coins like ETH) is getting expensive. The fees are fixed in most of cases and I had the problem that fees represented sometimes even a 50% of the quantity I wanted to send. In some cases, if the exchange is not in the top 25, those fees are specially high, as a way to prevent the liquidity leak. A strategy is needed, so first of all; know all the fees from the exchanges you are operating with. I recently found this list, I missed some of my exchanges, but I can tell it's real data. As for me, I operate with Binance, OKEX, Coinbase, YoBit and Crex24. The reason is because some rare coins I hodl can only be found listed in some of them. But I also want to move my crypto to wallets, farms, hodling, casinos or whatever, so the logical steps I found are: Identify the best cash-out platform. Once you get in, you should consider that before putting your crypto out the exchange environment, that exchange would be the platform to send it to anywhere. In my case, as for BTC, is Coinbase. For months, I believed it was too expensive, but then I realize that paying between 1.5 and 2 dollars (depending on the quantity, it can be bigger amount but always according to the volume you are sending) is fair enough to me. If you want to transfer between exchanges OR if the place we are going to send crypto can easily convert from one currency to another, consider some low withdrawal fee options. My personal options are: USDT - If the exchange allows the TRC-20 network, the cost is free most of times. For sending between Binance and OKEx is my option #1: there is no fee. In other Exchanges such Crex24 and YoBit, it's an option I totally discard: prices goes from $5.2 to $6. Ripple - XRP is one of the most popular ways of moving BTC capitals due the low fee of transactions. In my case, sending from Binance or Yobit to Coinbase (due Coinbase doesn't have USDT listed) is the clear solution; fees goes between 0.25 to 0.5 XRP (roughly $0.06-0.12) minimizing costs. EOS - Sometimes, EOS has even cheaper fees than Ripple. It's worth checking which is the best option. Use always trade option and pay the price (trading fees and small price differences). Don't wait too much: once your funds arrive, even if there is a gap on the price (you'll realize between exchanges prices on charts are slightly different) convert it to the destination coin. Yes, if you wait a while and coin is uptrending, you can recover a good part of the fee or even earn some money, but most of times you'll pay higher fee than expected. Try to simplify as much as possible, I had really hard times trying to find the best strategy and finally could made 3 simple steps for reducing fees. I hope it really helps, I was thinking this is maybe too basic and most of you guys have your own ways (with similar steps). If it does, don't forget to leave your feedback and any strategy you think it can be useful or worth considering; the goal is not loosing too much money. Cheers!
  5. Bitcoin ATM is a device that allows buying or selling bitcoins for fiat currencies. It works almost like the ATMs we use today, with a few differences. Instead of inserting a bank card into the device and obtaining the money, with Bitcoin ATM you can just scan your wallet code for the ATM, and you make some pressures on the device and we get money (dollars or euros) compared to bitcoin, and the opposite is true if you are You want to buy bitcoin, you deposit banknotes in Bitcoin ATM at any value that Bitcoin buys and you will receive instructions to send that value to your bitcoin wallet. Bitcoin ATMs allow you to buy and sell bitcoins. They are actually internet-connected devices, not just ATMs. Bitcoin ATMs connect the client to a cryptocurrency exchange where they can conduct bitcoin transactions. Transaction records are provided via a device-issued receipt, and records can also remain digital. The average fee for conducting transactions through our Bitcoin ATM is between 5 and 10%, for every transaction, whether withdrawing or depositing, and these fees vary between one ATM and another, between a company and another, and from one country to another. It is very beautiful and comfortable for everyone and the way to use it is easy. I hope that this technology is available all over the world
  6. BTC "Exchange or P2P" fees / withdrawal-Deposit Actually the Yobit withdrawal fee is not the highest, even the trade fee is 0.2% So what is the fee of your Preferred Exchange Today: Please you can use this format and add comment would be great. Exchange - P2P: LBTC Deposit Fee: Yes / 0.00003 BTC Withdrawal Fee: Yes / 0.00001 BTC You commentary: This Exchange allows the sending BTC between accounts without payments fee. It is the centralized typy. KYC is required _************_ .
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