Topic: Do low fees matter most in choosing crypto platforms, or other factors? (Read 491 times)
June 21, 2024, 07:58:18 PM
one of the things that crypto users are looking for is to make transactions with small fees. So, low fees are one of the important things in choosing a crypto platform. However, many people are considering this, in fact they are willing to postpone their transactions to wait for low fees when gas prices are high. Apart from that, many chains are competing to make their transactions cheap in order to attract users' attention.
June 21, 2024, 03:34:11 PM
In my opinion, the most important thing in choosing a crypto platform is high and strong security because this is about protecting the assets we own. Rather than just looking at the cheap transaction costs but low security, it is very risky. So to choose a crypto platform is primarily security and then followed by other factors, such as the user interface, or available features.
If I understand you correctly, by crypto platform you mean an exchange right? Where you can trade or do some exchange with your coins and then send to external wallets right? I don't think this is something you can debate, it's a personal something you need to choose. If you are a Ether lover and you want to withdraw Ether, you need to pay ethereum fees which is the highest im altcoins and if you need USDT, you will be paying $1 or less depending on which network you are using.
You don't have anything to do with the security of the platform, your priority is to buy and trade and move your coins out of the exchange, it's as simple as that. What the exchange does about the security of the platform is upto to them, it's not your responsibility to take of care of the assets but you should do the basic needed safeguard your tokens from hack and hijack.
June 21, 2024, 02:05:14 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
We really need low transaction fees, but in my opinion that is not the most important thing in using a crypto platform. In my opinion, the most important thing is the security of the platform because without good security it will make us uncomfortable when making transactions. and next we have to pay attention to the reputation of the platform because reputation is also very important in a crypto platform.
June 20, 2024, 11:17:44 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
In my opinion, the most important thing in choosing a crypto platform is high and strong security because this is about protecting the assets we own. Rather than just looking at the cheap transaction costs but low security, it is very risky. So to choose a crypto platform is primarily security and then followed by other factors, such as the user interface, or available features.
May 29, 2024, 05:44:35 AM
This means that not every new place will be fine, but some will be fine and you can take advantage of that if you want. I do not like that, I prefer to use Binance, because I trust it and I am not going to change that unless Binance goes bankrupt.
I agree with you. Trading fees are not that expensive if it is an exchange I trust. I have transactions of around hundreds or thousands of dollars per month and fees on the exchange are usually only around 0.1 - 0.5 dollars. Even a 1 dollar fee is not that expensive in my opinion. I once lost hundreds of dollars on the Bitforex exchange and if I used the money I lost in fees there would be hundreds of transactions I could make.
May 29, 2024, 01:29:53 AM
Trust is definitely the most important factor, not that fee's are that high, but I rather pay a lot of money just to be make sure that I am using a trusted place. Many of the new places are trying to keep their fee structure low until they get enough people, even Binance did that, the first year they were active they had a huge affiliate income (literally at 50% of the fee) and we are seeing that they changed both the trading fee, and the affiliate income after they became trusted.
This means that not every new place will be fine, but some will be fine and you can take advantage of that if you want. I do not like that, I prefer to use Binance, because I trust it and I am not going to change that unless Binance goes bankrupt.
This means that not every new place will be fine, but some will be fine and you can take advantage of that if you want. I do not like that, I prefer to use Binance, because I trust it and I am not going to change that unless Binance goes bankrupt.
May 28, 2024, 03:55:06 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
For me? Yes.Fees are one of the things that I really need to consider when choosing a cryptocurrency exchange platform. because of course we will use that platform, right, for transactions? So, for example, if the transaction fee is quite high, we will definitely feel that it is difficult. especially if you do it multiple times. Because how do we have to pay a fee both for taking the money and making the payment, as well as paying the fee when transferring the crypto. Well, the problem is if it's too high then it will affect our profits or payments, right?
However, this is only one thing, because currently, there are many exchanges whose fees are quite competitive and almost the same. Furthermore, of course there are other factors, such as reputation and market cap/trading volume, which must also be taken into consideration. Because in all areas, security is also very important for consideration.
May 28, 2024, 02:59:14 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
Personally, when choosing an exchange, it is not about low fees because low fees are the last thing, the most important thing is the security of the platform. It's true, fees are another factor to consider in choosing an exchange to trade on, but fees are usually high and many popular exchanges charge higher fees, but the sacrifice is worth it in terms of insurance and security of the assets we own. Because the platform will make it easy to deposit and withdraw digital currency in fiat currency, as well as trade many assets in it.Moreover, we choose an exchange not only for trading but also for storing assets for a long period of time, or even for storing them for a short period of time, so the priority in choosing an exchange must be the security of the exchange. It is true that it is best not to store assets on an exchange, because no matter how strong the security is, our assets are not under our control, but choosing an exchange with strong security is also very important so that we can trade safely without worry.
May 28, 2024, 02:30:18 PM
Why not all of those good factors are needed when we're choosing an exchange or any kind of crypto platform that includes are money? Except the investing platforms because there is a misconception about it.
There are scams that play around with that title about being called an "investment platform" by their own scammers.
So, going back to the genuine one. It's about low fees, with security, huge volume, etc. and all of those things that we all need as users.
There are scams that play around with that title about being called an "investment platform" by their own scammers.
So, going back to the genuine one. It's about low fees, with security, huge volume, etc. and all of those things that we all need as users.
May 28, 2024, 01:43:40 PM
There are lot of factors to consider before investing or participating in any cryptocurrency project, and add it to the ones you have mentioned, the transaction fee is very much important then the speed of the network. Then the interface of the project wallet. There are some altcoins wallet that have more one wallet addresses and example of such which I know, trustwallet, BNB, Ethereum, Solana etc. It is not good for a cryptocurrency project to share wallet with another project and that defeated the decentralization of the project.
So I prefer crypto project that operate alone and not projects that share wallet address.with others.
So I prefer crypto project that operate alone and not projects that share wallet address.with others.
May 28, 2024, 12:16:00 PM
Tight security and low transaction fees are what many people are looking for and comparing, but I prefer a platform that provides direct exchange of fiat money from my own country, this makes my transactions easier so I don't have to move around which results in lots of transactions
I agree with you. I don't care what it costs as long as it's reasonable. But if this is a crypto trading platform so far I prefer one that can make withdrawals directly into my country's currency. I don't like KYC because I only do a few small transactions but I haven't found a non kyc trading platform that provides good performance.
May 28, 2024, 03:33:01 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
Indeed, the fee amount for each exchange is different, the most important thing is that the exchange is included in the safe list and does not cause problems for our livelihoods.
Personally, I see that as long as the WD process is smooth and not complicated and the transaction is successful, that's what I prefer to choose. If KYC is difficult, the choice is to look for something easy.
May 28, 2024, 02:41:48 AM
Tight security and low transaction fees are what many people are looking for and comparing, but I prefer a platform that provides direct exchange of fiat money from my own country, this makes my transactions easier so I don't have to move around which results in lots of transactions
I agree with you. I don't care what it costs as long as it's reasonable. But if this is a crypto trading platform so far I prefer one that can make withdrawals directly into my country's currency. I don't like KYC because I only do a few small transactions but I haven't found a non kyc trading platform that provides good performance.
May 27, 2024, 10:32:03 PM
High transaction fees has being considered as one of the most concerned factors that is limiting the more success of using cryptocurrency most especially bitcoin. Depending on the cryptocurrency you want to venture into, they all have their own transaction fees which you need to look into before venturing into them.
The transaction fees usually depend on how congested its mempool. The more transaction a coin is having then we can expect higher transaction fees. Although exchanges usually add in their own fees aside from the fees required to push a transaction out.Quote
One of the criteria I also look into is the blockchain those projects are being lunched on and their vulnerability to external attacks.
The problem here is that most exchanges need money to ensure safety and security as they can dedicate more of developing their softwares. In order to do that they are going to need to ask for more fees. 
May 27, 2024, 02:22:02 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
High transaction fees has being considered as one of the most concerned factors that is limiting the more success of using cryptocurrency most especially bitcoin. Depending on the cryptocurrency you want to venture into, they all have their own transaction fees which you need to look into before venturing into them. If you do that later, you might regret why didn’t do earlier because it’s now one of the determining factors of choosing the best cryptocurrency in the market. What you can also look into, is the team behind it, the security built to protect the project and many other things. One of the criteria I also look into is the blockchain those projects are being lunched on and their vulnerability to external attacks.
May 27, 2024, 01:58:33 PM
The features I would consider while choosing a cryptocurrency platform.
1.The security,that is all that matters because if the platform isn't secured the users would lose their coin,many users have lost their coins in exchanges because they chose a platform that wasn't secured.
2.KYC requirements,it is from the KYC requirements I get to dictate if the platform is solid to trade my coin.
3.The low transaction fee is also what I consider in a platform.
1.The security,that is all that matters because if the platform isn't secured the users would lose their coin,many users have lost their coins in exchanges because they chose a platform that wasn't secured.
2.KYC requirements,it is from the KYC requirements I get to dictate if the platform is solid to trade my coin.
3.The low transaction fee is also what I consider in a platform.
May 27, 2024, 12:33:54 PM
Tight security and low transaction fees are what many people are looking for and comparing, but I prefer a platform that provides direct exchange of fiat money from my own country, this makes my transactions easier so I don't have to move around which results in lots of transactions
May 15, 2024, 11:54:09 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
Trusted platforms usually have everything their users need except low fees, because after all low fees will also depend on network conditions, but if there is a platform that can provide everything it will definitely be the choice of many crypto users, and actually fees also play a role for developers need to develop their platforms, by charging reasonable fees they will have the funds to continue to develop the platform to become better, but by forcing low fees it may affect development including security.If I have to choose, security should be the main thing and low fees should be the second choice, while the interface and other features are not too important things to consider when choosing a crypto platform.
May 15, 2024, 08:47:25 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
For me the most important thing is security. I would prioritize platforms that already have a good reputation and have earned more trust which is a sign that they can be safer than other competitors that don't have as much trust. After that I thought about low costs. And after that, the interface will appear comfortable and can be understood quickly and is also simple and not complicated. May 15, 2024, 08:33:58 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
Of course. We must first examine the cost component, whether it is taker and maker costs, then if we want WD how much the estimated cost will be cut. If the platform provides cheap services in terms of transaction fees on the exchange I think many users will come and register on the exchange, especially if the exchange is NO KYC and only uses 2FA because of the requirements to get WD.
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