Topic: Comparative table on fees among some coins. Pick up one for your need. - page 2. (Read 340 times)
August 14, 2020, 12:02:20 PM
Aside from what has been mentioned above, there's a trend that Bitcoin fees are low on the weekend. 1-5 sats might be enough to make your transaction get confirmed on the next block. There're threads about this if you need more info.
August 14, 2020, 11:48:09 AM
A quick heads up to the newbies: a "cryptocurrency" having lower fees definitely doesn't automatically mean it's better. These other coins have lower fees because:
You're still mostly better off using Bitcoin(BTC) in the end. You just don't need to pay for $1+ high fees(most of the time 10 sats/b which costs a few cents will suffice) unless you're in a rush to get the transaction confirmed.
"But what if I convert my BTC to altcoins for faster transfers?" This could work if your funds are on exchanges in the first place(which is definitely not recommended), though also take into consideration the exchange fees, because you might end up paying more on conversion fees than just straight-off paying a decent bitcoin transaction fee.
- they're more centralized
- they're less secure
- not much people use them(probably besides ETH)
You're still mostly better off using Bitcoin(BTC) in the end. You just don't need to pay for $1+ high fees(most of the time 10 sats/b which costs a few cents will suffice) unless you're in a rush to get the transaction confirmed.
"But what if I convert my BTC to altcoins for faster transfers?" This could work if your funds are on exchanges in the first place(which is definitely not recommended), though also take into consideration the exchange fees, because you might end up paying more on conversion fees than just straight-off paying a decent bitcoin transaction fee.
August 14, 2020, 11:34:44 AM
Blockchair.com has its compare page which presents a filter and comparative tables among some coins. In this thread, I present you an overview on fees (average, median in $ last 24 hours). You can visit the page, get an overview before doing further steps and choose the best coin at time to move your fund.
Similar when you trade, look at daily volume and price trend of each coin. Make sure after you move your fund with it, you can trade it back to Bitcoin and won't get loss when price falls down.
Use this method to move your small fund when fee is a matter. I don't advise you to move all your funds with altcoins because of Replay attacks.
Similar when you trade, look at daily volume and price trend of each coin. Make sure after you move your fund with it, you can trade it back to Bitcoin and won't get loss when price falls down.
Use this method to move your small fund when fee is a matter. I don't advise you to move all your funds with altcoins because of Replay attacks.