Cheapest way to transfer crypto from Kraken to Bitfinex?

BitcoinHodler

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Quote from: albayalde on December 17, 2017, 10:51:07 AM

Quote from: BitcoinHodler on December 17, 2017, 08:59:15 AM

(short answer i believe LTC is good)

Sorry 1 more question, who is better, doge or ltc for fees value and who is faster ?

both of them are good options

regarding fees you need to check each exchange and see how much they are charging you for it. but it usually is 1-2 Doge for dogecoin so it is cheaper.

and based on number of confirmation each of them requires they can be the same speed like one another.

but as i explained above Doge has a lower price so buying in one place and selling in another (if you want to buy and sell at market price) means losing a large amount of money.

Dailyroberts

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Quote from: rremus91 on December 17, 2017, 06:48:49 AM

I would like to send some BTC from Kraken to Bitfinex but the transaction fees are high, ~30$. Is there a better way to transfer money like: buying LTC, ETH or some altcoin and send it?

- BTC withdraw Kraken fee: 0.00100 BTC
- Bitfinex deposit fee (less than $1000): 0.0005 BTC

If I change BTC to some altcoin, the maker fee is: 0.16% from BTC.

I can't see your question here. The fee is fixed by Kraken and Bitfines. Then how will you find a cheaper way here? You will have to choose that path to make your transfer, there is no other way around it.

Zandar

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For fees it is doge, usually it is 2 doge as the fee no matter what amount you are sending. Whenever I'm sending between exchanges I look at what the doge is at the other one and buy and send it there, dump it there into btc, in todays age a fee like 80000 satoshi to transfer btc has become pretty steep, not to mention the gazillion unconfirmed transactions which makes it take longer and longer.

albayalde

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Quote from: BitcoinHodler on December 17, 2017, 08:59:15 AM

(short answer i believe LTC is good)

Sorry 1 more question, who is better, doge or ltc for fees value and who is faster ?

capoeira

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probably Sepa lol

pawanjain

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Quote from: BitcoinHodler on December 17, 2017, 08:59:15 AM

(short answer i believe LTC is good)

i am not using these two exchanges so i don't know the fees. but in order to do something like that you need to do these things:
1- check the trading fees of these places
because you will need to pay trading fees 2 times if you want to transfer bitcoin from one place to another using an altcoin.

2- check the price difference and spread in the altcoin that you chose.
if the altcoin has a higher price and a smaller spread you will lose smaller.
for example Doge withdrawal is 1 Doge (~20 sat) but you on one exchange you may have to buy at 22 satoshi and sell on the other place at 20 and that is 10% loss before trading fees! but if you buy something more expensive like LTC at 0.017 and other place is 0.01699 you won't lose much.

3. check the withdrawal fees.
sometimes some exchanges have higher withdrawal for some altcoins!

4. check to see if that altcoin's network is working properly, exchange wallet is operational not in maintenance and make sure you can withdraw.
sometimes these issues do happen.

The easiest way to transfer the amount from one exchange to another would be to convert the BTC to an altcoin which has low withdrawal charge and then transfer it to the particular exchange and then convert it back to BTC or whatever coin you want. Although DOGE is a suitable coin for this task but the price of Doge is too low and even if you sell at a loss of 1 satoshis per coin the change will be a little noticeable. So either of Doge you can use DGB which has low fee and transfers quickly and there won't be any noticeable difference in the amount. You will almost get the same amount of BTC you wanted to transfer to the another exchange.

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

(short answer i believe LTC is good)

i am not using these two exchanges so i don't know the fees. but in order to do something like that you need to do these things:
1- check the trading fees of these places
because you will need to pay trading fees 2 times if you want to transfer bitcoin from one place to another using an altcoin.

2- check the price difference and spread in the altcoin that you chose.
if the altcoin has a higher price and a smaller spread you will lose smaller.
for example Doge withdrawal is 1 Doge (~20 sat) but you on one exchange you may have to buy at 22 satoshi and sell on the other place at 20 and that is 10% loss before trading fees! but if you buy something more expensive like LTC at 0.017 and other place is 0.01699 you won't lose much.

3. check the withdrawal fees.
sometimes some exchanges have higher withdrawal for some altcoins!

4. check to see if that altcoin's network is working properly, exchange wallet is operational not in maintenance and make sure you can withdraw.
sometimes these issues do happen.

rremus91

newbie

Activity: 18

Merit: 3

I would like to send some BTC from Kraken to Bitfinex but the transaction fees are high, ~30$. Is there a better way to transfer money like: buying LTC, ETH or some altcoin and send it?

- BTC withdraw Kraken fee: 0.00100 BTC
- Bitfinex deposit fee (less than $1000): 0.0005 BTC

If I change BTC to some altcoin, the maker fee is: 0.16% from BTC.

Topic: Cheapest way to transfer crypto from Kraken to Bitfinex? (Read 76 times)