This fully answers my question, thanks!
I will actually move from kraken to binance. The binance table informed me that all deposits are free. So I can choose any coin that both exchanges have.
Then I found the kraken withdrawal fees https://support.kraken.com/hc/en-us/articles/201893608-What-are-the-withdrawal-fees-?mobile_site=true
It looks like stellar is almost for free. But it has a*. So perhaps there are some small side Letters, but I don't see anything.
I think I will go for ripple. 0,02 from $2 is only 4 cents. No need to search any further 😀
Topic: Best way to transfer from one exchange to other exchange (Read 130 times)
I'm not sure if I fully understand everything. So 1 more question :-)
If Binance has a coin that you can buy/sell on their exchange. It does not directly mean that you can transfer that coin from/to Binance from/to another exchange, correct?
If Binance has a coin that you can buy/sell on their exchange. It does not directly mean that you can transfer that coin from/to Binance from/to another exchange, correct?
I don't use Binance but it would be extremely unusual for an exchange to trade a coin but not allow it to be withdrawn.
As I just suggested the best place to find out would be their withdrawal page.
Also, you can see the fee schedule here:
https://www.binance.com/fees.html
I'm not sure if I fully understand everything. So 1 more question :-)
If Binance has a coin that you can buy/sell on their exchange. It does not directly mean that you can transfer that coin from/to Binance from/to another exchange, correct?
If Binance has a coin that you can buy/sell on their exchange. It does not directly mean that you can transfer that coin from/to Binance from/to another exchange, correct?
I always thought that if I transfer BTC that it could/would cost me fees to pay the miners to include my transaction in the blockchain, correct? And that those fees could go up to $25 or even higher.
That is why the exchange charges a withdrawal fee, to pay the miners fee plus administration costs.
How do I know if both exchanges accept the withdrawal&deposit of a certain coin?
You could try looking at their withdrawal and deposit pages and seeing which coins are listed.
At the moment with high fees on the BTC network, many people are choosing to exchange for another coin to transfer from exchange to exchange as it works out much cheaper.
What crypto coin could I best use to transfer my funds from Kraken to Binance?
And is there a general answer for this question? Or does it depend on the Exchanges I use? Or can this change on a daily basis (due to network fees)?
And is there a general answer for this question? Or does it depend on the Exchanges I use? Or can this change on a daily basis (due to network fees)?
If you are transferring directly from one exchange to another, I assume the only fees you will be paying are the fees Kraken would charge for a withdrawal fee. I don’t think it matters which coin you are using for withdrawal if Kraken has a standard fee amount for withdrawals. It just has to be a coin that Kraken allows for withdrawals and that Binance allows for deposits.
I always thought that if I transfer BTC that it could/would cost me fees to pay the miners to include my transaction in the blockchain, correct? And that those fees could go up to $25 or even higher.
How do I know if both exchanges accept the withdrawal&deposit of a certain coin?
What crypto coin could I best use to transfer my funds from Kraken to Binance?
And is there a general answer for this question? Or does it depend on the Exchanges I use?
And is there a general answer for this question? Or does it depend on the Exchanges I use?
It depends on the exchanges you use. You need to find a coin that is supported on both exchanges and then check the withdrawal fees to find the cheapest.
Or can this change on a daily basis (due to network fees)?
Although most exchanges don't change the withdrawal fee (use dynamic fees) the cheapest one could well change as exchange rates constantly move. For example, someone already suggested DOGE as it always has low fees. But it is also true that DOGE increased a lot in value recently so you need to check frequently to make sure you are still using the cheapest coin.
When you want to move BTC from one exchange to another, buy LTC, transfer the LTC then buy back BTC, because LTC has fast block times (you will have money in like 15 minutes), has small fees, and has huge liquidity - you can transfer 10-100 BTC without a problem.
Transfer in Doge as it has the most cheap fees.
What crypto coin could I best use to transfer my funds from Kraken to Binance?
And is there a general answer for this question? Or does it depend on the Exchanges I use? Or can this change on a daily basis (due to network fees)?
And is there a general answer for this question? Or does it depend on the Exchanges I use? Or can this change on a daily basis (due to network fees)?
If you are transferring directly from one exchange to another, I assume the only fees you will be paying are the fees Kraken would charge for a withdrawal fee. I don’t think it matters which coin you are using for withdrawal if Kraken has a standard fee amount for withdrawals. It just has to be a coin that Kraken allows for withdrawals and that Binance allows for deposits.
What crypto coin could I best use to transfer my funds from Kraken to Binance?
And is there a general answer for this question? Or does it depend on the Exchanges I use? Or can this change on a daily basis (due to network fees)?
And is there a general answer for this question? Or does it depend on the Exchanges I use? Or can this change on a daily basis (due to network fees)?
Doge or XRP , fast and cheap
What crypto coin could I best use to transfer my funds from Kraken to Binance?
And is there a general answer for this question? Or does it depend on the Exchanges I use? Or can this change on a daily basis (due to network fees)?
And is there a general answer for this question? Or does it depend on the Exchanges I use? Or can this change on a daily basis (due to network fees)?
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