Best way to transfer funds between exchanges - page 2.

Valzador

hero member

Activity: 1316

Merit: 503

Quote from: OhMyHolyToken on January 09, 2018, 12:55:18 PM

Hi,

BTC is slow and commission is high (20$).
LTC is fast and commission is medium (5$).

Is there any better way to transfer funds between exchanges with low fees?

Thanks

Altcoin that choose for my withdrawal is Dogecoin but if the price of Doge on an exchange is very bad, I will switch using Stellar Lumen, the coin fee is a bit expensive compared to Doge but cheaper when compared with Bitcoin or Ethereum

Herbert2020

legendary

Activity: 1946

Merit: 1137

whenever you are looking for an altcoin to use in order to transfer money between exchanges, the withdrawal fee is not the only cost that you are paying!

the first cost which can be quite big depending on your amount is the trading fee. for example if you want to transfer 1BTC with an altcoin you have to pay 0.002BTC (which is the same as withdrawal fee in most exchanges even bigger in some) to buy that altcoin and then pay the same fee to sell it in other place. so you paid twice or thrice the withdrawal fee to transfer using an altcoin here!

another thing that most people miss is the price difference!
for example using Doge, you buy it at 30 satoshi and sell it at 29 satoshi. that is 3.33% loss.
if price is lower like 20-19 then it is 5% loss and so on.

Anniee123

member

Activity: 196

Merit: 10

In general, through the exchange between the transfer, I will use the ETH, because BTC fees are too expensive, and using other altcoin may need to bear the price of volatility, so I think the ETH is the best choice.

mstfprcn

hero member

Activity: 700

Merit: 553

the best way, change your funds to waves, and transfer it wherever you want. in 5 minutes , enjoy it. and than you can change it whatever you want as well.

endaiin

full member

Activity: 378

Merit: 100

Quote from: OhMyHolyToken on January 09, 2018, 12:55:18 PM

Hi,

BTC is slow and commission is high (20$).
LTC is fast and commission is medium (5$).

Is there any better way to transfer funds between exchanges with low fees?

Thanks

now ETH is good but sometime to slow and need more gas for transfer.

in my opinion ETC is the best now. it like we use ETH but with low traffic, so the price more stable and cheap, and also it faster because the traffic is low.

crptotrader007

full member

Activity: 292

Merit: 100

There are thousands of other coins which are much cheaper than these coins and can be used to transfer coins from one exchange to another.
I have been using DOGE for a couple of months during the beginning of my crypto journey to transfer coins from one exchange to another.
Now I use DGB to transfer the coins as it is more convenient and efficient to transfer the coins. The transfer gets done within minutes after making the transaciton. The fees is very cheap which gives us advantage over the other coins.

alt-fire

full member

Activity: 602

Merit: 104

for small sums it is convenient to use Doge.
commission only 2 Doge=0.025$
not all exchanges support Doge Cry

UZIzzzz

member

Activity: 168

Merit: 10

However, altcoin has a large fluctuation. If it is transferred through altcoin, the price difference may be lost.

scoobidoobydu

member

Activity: 141

Merit: 10

I used ETH before but It got stuck couple of time so now I use LTC. In the past when I do not have experience, I transfer btc.
Maybe I will consider DOGE option in the future. Also read people recommendation somewhere else.
I hope one day all major exchange will have XRB.

sparg

full member

Activity: 280

Merit: 110

It depends on the fees and the difference of value that coins are traded. You can use this transfer to do some arbitrage and if not possible i use eth because is the fastest way and i havent had any problems till now.

proexcept

full member

Activity: 308

Merit: 156

Now I use 3 coins - LTC, ETC, DOGE. The commission of these coins is very small. I think you can use one of them. If you choose DOGE, then the commission for sending any amount will be only 0.03 dollars.

Salfuk

member

Activity: 76

Merit: 10

I like to use Litecoin cheap fees super fast and hasnt been held up like ETH has recently for me from some exchanges

allthebitandbobs

sr. member

Activity: 1162

Merit: 252

People might laugh but dodge is a real good coin form going to and from exchanges .It on almost on every exhnage and it does not change price that much and the fees are low .Also u can convert it back to bitcoin fast

Zombie259

member

Activity: 420

Merit: 11

Quote from: Draguny on January 09, 2018, 03:42:25 PM

Try to check for the fees beforehand, sometimes trading with a coin like DOGE inbetween can even be the best option Grin

I've paid only 2 Doge to sent over 100k Doge to an other exchange.
Litecoin is also cheaper than ETH.
Next transfer I'll check other currencies like DGB.

Draguny

newbie

Activity: 18

Merit: 0

Try to check for the fees beforehand, sometimes trading with a coin like DOGE inbetween can even be the best option Grin

asayoyaasa

copper member

Activity: 648

Merit: 159

Ethereum, its fast and have cheap fee. but the price between exchange maybe different and you can losing more money because of that, or doge its almost have same price in several exchange.

OhMyHolyToken

jr. member

Activity: 98

Merit: 2

Hi,

BTC is slow and commission is high (20$).
LTC is fast and commission is medium (5$).

Is there any better way to transfer funds between exchanges with low fees?

Thanks

Topic: Best way to transfer funds between exchanges - page 2. (Read 375 times)