Exchange with cheapest fees | Bitcointalksearch.org

juniperion

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Crypto investor, photographer, enthusiast of tech.

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https://exchange.bytedex.io/fees

https://bytedex.io/en/

https://exchange.bytedex.io/

https://bitcointalksearch.org/topic/bytedex-ecosystem-byte-exchange-5424978

Darker45

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🙏🏼Padayon...🙏

Quote from: uneng on February 18, 2023, 11:08:19 AM

Quote from: Darker45 on February 18, 2023, 10:15:47 AM

~snip~

Yes, that is a good idea. I reached the conclusion I'm going to sell interested people bitcoins myself. Minimum withdrawal from Stake is 20,000 satoshis and there is a fee of 7000 satoshis. For larger transactions that fee is fine, but if they want to acquire a small amount, I can also make the transaction from freebitco.in platform, paying only 520 satoshis on fees (slow withdrawal).

The point now is the receiver wallet... I know people in real life who invest in BTC and use only Binance to store their coins, so it's indeed the first option for the layman due to the accessibility, and they don't seem interested in self-custody. Moreover, it's out of my control if they prefer accessibility over safety, after all it's responsability of each adopter to take the possible consequences for their decisions. They will decide doing the don'ts or the dos, as they wish.

My advice is that a hardware wallet is purchased, as that is the method I use and think it's pretty simple, while being safe.

I also know of some individuals who know about and actually own crypto but don't know about self-custody, about hardware wallet, about Lightning Network, even cheaper fees with SegWit, and so on. What I'm saying is that it might not be about them having the freedom to choose which they prefer. To some, it might simply be about lacking education or awareness. And since you're in a position to educate them, I guess that must be included. At least they're aware of the options and the risks involved when they make a choice.

If it's simply a demonstration that you want, you don't have to require them to have a hardware wallet. As you mentioned, the amount is $1-$10. An open source non-custodial wallet is enough.

uneng

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Leading Crypto Sports Betting & Casino Platform

Quote from: Darker45 on February 18, 2023, 10:15:47 AM

I've noticed that you're wearing Stake signature. Why don't you make use of your Stake account for this. I believe the minimum withdrawal is $10 and it doesn't charge a fee. Am I right? Or why don't you send them the coins from your own wallet, one which allows you to use the lowest fee possible? That would be more interesting I guess. Or if somebody is willing to spend a little more than $10, let him/her learn how to make a transaction from a non-custodial open source wallet and send Sats to a fellow learner? I mean, there must be other ways.

Yes, that is a good idea. I reached the conclusion I'm going to sell interested people bitcoins myself. Minimum withdrawal from Stake is 20,000 satoshis and there is a fee of 7000 satoshis. For larger transactions that fee is fine, but if they want to acquire a small amount, I can also make the transaction from freebitco.in platform, paying only 520 satoshis on fees (slow withdrawal).

The point now is the receiver wallet... I know people in real life who invest in BTC and use only Binance to store their coins, so it's indeed the first option for the layman due to the accessibility, and they don't seem interested in self-custody. Moreover, it's out of my control if they prefer accessibility over safety, after all it's responsability of each adopter to take the possible consequences for their decisions. They will decide doing the don'ts or the dos, as they wish.

My advice is that a hardware wallet is purchased, as that is the method I use and think it's pretty simple, while being safe.

Darker45

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🙏🏼Padayon...🙏

Quote from: uneng on February 02, 2023, 06:02:49 PM

I will talk about the risks and also mention the possibility of storing in self-custody offline mode, but the idea is that they invest small sums of money to experiment how it works. Something between 1$-10$, so I guess it's not big risk just to start... If they enjoy the experience, they should adopt extra safety measures for larger invested funds.

I find it a little ironic that you will talk about what's risky and what's not, and you will let them do the risky thing and not the safe one. It's like teaching them the fundamental dos and don'ts and you will let them do the don'ts and not the dos. That doesn't seem right.

I understand that the amount is minimal. It's probably for the sake of simply showing them how it works, for the sake of the experience. But central to teaching newbies about Bitcoin is to create a wallet. And I mean a wallet, not an account in whatever centralized platforms. Omitting this very important learning step makes everything incomplete.

I've noticed that you're wearing Stake signature. Why don't you make use of your Stake account for this. I believe the minimum withdrawal is $10 and it doesn't charge a fee. Am I right? Or why don't you send them the coins from your own wallet, one which allows you to use the lowest fee possible? That would be more interesting I guess. Or if somebody is willing to spend a little more than $10, let him/her learn how to make a transaction from a non-custodial open source wallet and send Sats to a fellow learner? I mean, there must be other ways.

Edwardard

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Quote from: uneng on February 02, 2023, 03:00:46 PM

Binance: 0,70$ withdrawal fees to bank account, zero fees on BTC/fiat pairs exchanges;

Among all, binance is the best and most trusted one as well (least chance of running away with your funds). And btw, you can make everything free on binance if you use their p2p method for transferring fiat to your bank account. Im using it myself, and believe me I never had any issues, just use trusted sellers/buyers with good feedbacks.
Alternatively, kucoin and bybit are also secure exchanges and allows some sort of non-KYC withdrawals if privacy is your concern but still binance is above all despite having kyc.

uneng

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Quote from: Emitdama on February 17, 2023, 05:40:02 PM

I have not come across any crypto exchange in the name of local digital bank; could you please share its URL if your time permits (I know I am able to find by google still I just want to double confirm with the right one).

https://www.zrobank.com.br/

I still didn't try this one, but I was customer of another platform, called Alter, but it ceased operations and merged with a company of the same segment called Méliuz (more focused on discounts for different products and services). However, I had to stop using the service because even though they still deal with bitcoin, it's not possible to deposit or sell bitcoin for fiat inside the platform anymore.

I was going to join zrobank, but due to the spread fees on the exchange act, I didn't go ahead. I want to know very clearly how much I'm paying on fees, and these services are looking shady in my opinion on this matter. I'm considering P2P transactions, but I don't know if I could find trusted people dealing with my national currency and bitcoin.

Emitdama

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Activity: 1895

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Quote from: uneng on February 02, 2023, 03:00:46 PM

Local digital bank: zero fees, average 1% spread fees on exchanges.

I have not come across any crypto exchange in the name of local digital bank; could you please share its URL if your time permits (I know I am able to find by google still I just want to double confirm with the right one).

I am not bothering about withdrawal fees usually but I always try to minimize the trading fees at possible methods like in some exchanges we can enjoy discounts on trading fees when we are reaching certain volume on previous month. In some other exchanges, I am staking their own coin/token to get some discounts on my trades. Right now, I am active at kucoin and I am staking KCS for this purpose.

The simple trick to minimize the withdraw fees is, choosing right altcoin. When I was active on yobit exchange some years back I did all my withdraw in dogecoin and 2 or 3 years back I used waves to save on withdraw and network fees.

uneng

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Activity: 2030

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Leading Crypto Sports Betting & Casino Platform

Quote from: uneng on February 02, 2023, 03:00:46 PM

Crypto.com: zero withdrawal fees to bank account, 0,0750% fee on exchanges;

Be careful of Crypto.com. After a BTC : fiat swap, I noticed I had 6,5% less money value. That was the fee they charged for the exchange, on the opposite of the 0,0750% they officially state. After all, taxes are heavily subjective. Total lack of transparency and respect for customers.

yhiaali3

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#SWGT CERTIK Audited

If you are looking for a centralized exchange to withdraw bitcoins with cheap fees you can try https://www.coinex.com/

I have been using it for several years without KYC, you can withdraw daily up to 10K$ without KYC with a fee of 0.0001BTC, I think it is cheap, cheaper than Binance also there is no KYC (at the moment).

But as you know central exchanges can change their terms at any time and require KYC.

joniboini

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Quote from: uneng on February 02, 2023, 06:02:49 PM

I believe exchanges are the tool to introduce these people to bitcoin investment, otherwise I fear it's not going to be possible in a practical way. I have to keep it simpler (and cheaper) as possible.

Instead of recommending them straight away to exchanges, I think it is fair to tell them about other methods such as P2P trade, faucets, etc. Your goal should not push them to buy Bitcoin because they will get rich later on, but how to tell them what Bitcoin is useful for and how can they use it. It is not a good idea to push them into an investment direction straight away when they don't even understand what Bitcoin is, if something went south they'll just blame you and think Bitcoin is a scam or something along those lines.

Quote from: uneng on February 02, 2023, 06:02:49 PM

People would need an extra device and most of them just have a smartphone.

There's no need to go straight to cold wallet either, just tell them different kinds of wallets, when and how to use them etc. Telling them basic security practices if they only have their phone to store Bitcoin for example is still a better education than telling them what exchange is cheaper if they want to buy BTC imo.

tabas

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Top Crypto Casino

Quote from: dansus021 on February 05, 2023, 11:13:22 PM

I use binance and withdraw to fiat is zero Grin

by using P2P the rate is good and they introduce p2p express meaning the will give best match of fiat rate and it send to directly to your bank account, but the other side you need to do KYC first before using this p2p service.

It work both ways you either selling or buying crypto

Yeah, Binance's P2P is costing me not that much and usually it cost nothing. But when I can't find the best deal that I can, I'm transferring it to another exchange and that costs me a lot just to transfer it from Binance to my account.
Anyway, there's an added service now in Binance where those users from respective countries that they support can now directly withdraw it from Binance to local bank account, I just can't find that blog of theirs but I saw it before.
@OP, what you're doing is a good thing to make some information on how much the spread are from different exchanges available in your locale.

dansus021

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Activity: 1988

Merit: 905

Part of AOBT - English Translator to Indonesia

I use binance and withdraw to fiat is zero Grin

by using P2P the rate is good and they introduce p2p express meaning the will give best match of fiat rate and it send to directly to your bank account, but the other side you need to do KYC first before using this p2p service.

It work both ways you either selling or buying crypto

stompix

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Activity: 2828

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Blackjack.fun

Quote from: uneng on February 02, 2023, 06:02:49 PM

Quote from: stompix on February 02, 2023, 05:34:17 PM

People would need an extra device and most of them just have a smartphone.

Not necessarily, you can have a paper wallet, you can have a real cold wallet, and you can secure your private key in a hundred different ways, there are a lot of ideas on this forum alone, like:
Securing Your Seed Phrase with Washers

I'm sorry but I have to agree with the rest, you're not teaching them to buy and use bitcoins, you're teaching them how to trade stocks on an app, might as well just buy some government bonds and that's it. The whole thing of being independent and gaining that is erased since they will simply get addicted to the easiness of controlling their finances from an app like Binance and just be happy they see some great numbers.

Quote from: uneng on February 02, 2023, 06:02:49 PM

If they enjoy the experience, they should adopt extra safety measures for larger invested funds.

As I said, it's more about the gains, not bitcoin, right?
To enjoy the bitcoin experience they would have to first deal with bitcoin!

If the sum is already small like 1$-10$ and they wouldn't care about it anyhow, why don't they run their own wallet on that smartphone, learn how to make a transaction, learn how to receive some, about fees, memory pool, confirmations, not about 50x leverage on shiba inu!

dkbit98

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Cashback 15%

Quote from: TryNinja on February 02, 2023, 05:22:39 PM

I literally can’t use neither of those exchanges. Binance allows crypto txs tho, so btc deposit, swap for usdc, and usdc withdrawal. I just can’t use fiat. CryptoCom is a full block (fiat and crypto).

It's strange they didn't ask for your blood type and genetic material, as well as your elementary and pre school records Cheesy

Now imagine people who would go with all that shenanigans for $100, and in the end they end up with locked or hacked account and leaked private information.
I am sure many people would again blame Bitcoin for all this... like in this case posted below Roll Eyes

Quote from: Boakse on February 02, 2023, 08:16:19 PM

No wonder BTC and LTC is not accepted by -normal- people who make the first step into Bitcoin....

bitmover

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Non-custodial BTC Wallet

Quote from: uneng on February 02, 2023, 06:02:49 PM

Quote from: bitmover on February 02, 2023, 04:20:36 PM

If users can't spend $100 to protect their money, they are investing a small amount of money.

Yes, that is what I expect. People are fearful of adopting bitcoin, because they don't know it very well. They have to stat investing small amounts first until they understand how it works and get more confident. I'm going to talk to layman people, who aren't into informatics frequently.

I believe exchanges are the tool to introduce these people to bitcoin investment, otherwise I fear it's not going to be possible in a practical way. I have to keep it simpler (and cheaper) as possible.

Even a 50,000 satoshis withdrawal fee I think it's already too expensive to transfer coins to a desktop wallet.

This is the first bitcoin experience for most people:

creating a bitcoin wallet,
generating a seed,
saving it in a piece of paper,
generating an address, \
withdrawal from the exchange to that address.

If they are just buying bitcoin in binance and watching the price goes up and down... sorry, that is not "introducing bitcoin". You are just introducing binance.

uneng

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Leading Crypto Sports Betting & Casino Platform

Quote from: dkbit98 on February 02, 2023, 03:24:05 PM

Instead of using centralized exchanges, and going with all verification procedure, I would suggest everyone to try P2P trading and Bisq decentralized exchange.

It looks a possibility. I will check how it works, thanks.

Quote from: bitmover on February 02, 2023, 04:20:36 PM

If users can't spend $100 to protect their money, they are investing a small amount of money.

Yes, that is what I expect. People are fearful of adopting bitcoin, because they don't know it very well. They have to stat investing small amounts first until they understand how it works and get more confident. I'm going to talk to layman people, who aren't into informatics frequently.

I believe exchanges are the tool to introduce these people to bitcoin investment, otherwise I fear it's not going to be possible in a practical way. I have to keep it simpler (and cheaper) as possible.

Even a 50,000 satoshis withdrawal fee I think it's already too expensive to transfer coins to a desktop wallet.

Quote from: stompix on February 02, 2023, 05:34:17 PM

I assume you meant to spend more "on" a cold wallet but also you meant a hardware wallet.

I have some difficult identifying when to use "in", "on" or "at", my bad.

Quote from: stompix on February 02, 2023, 05:34:17 PM

A cold wallet simply means storing bitcoins offline with no accessible private keys, so you can make your own cold wallet with ease without $200 for a ledger or trezor.

People would need an extra device and most of them just have a smartphone.

Quote from: stompix on February 02, 2023, 05:34:17 PM

That being said, are you really comfortable with launching such a campaign in a community, telling people they could send whatever little they have to invest to a centralized exchange that might flop tomorrow? I would not take the risks, I would spend more effort to teach them how to make and manage their own wallets rather than having to deal with an angry mob that has lost thousands of dollars because I told them funds are #SAFU.

I will talk about the risks and also mention the possibility of storing in self-custody offline mode, but the idea is that they invest small sums of money to experiment how it works. Something between 1$-10$, so I guess it's not big risk just to start... If they enjoy the experience, they should adopt extra safety measures for larger invested funds.

stompix

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Blackjack.fun

Quote from: uneng on February 02, 2023, 03:00:46 PM

I'm going to launch a bitcoin adoption campaign in my local community soon, and in order to give accurate guidance, I'm looking for the best alternative of exchange to suggest people where they can acquire their first bitcoin coins, and hold them (I know it's not recommended, but people aren't going to spend 100$ or more in a cold wallet).

I assume you meant to spend more "on" a cold wallet but also you meant a hardware wallet.
A cold wallet simply means storing bitcoins offline with no accessible private keys, so you can make your own cold wallet with ease without $200 for a ledger or trezor.

That being said, are you really comfortable with launching such a campaign in a community, telling people they could send whatever little they have to invest to a centralized exchange that might flop tomorrow? I would not take the risks, I would spend more effort to teach them how to make and manage their own wallets rather than having to deal with an angry mob that has lost thousands of dollars because I told them funds are #SAFU.

TryNinja

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Btw, my crypto.com account was locked for no reason (I haven’t done a single tx/order in months) and they want info about my current job AND my entire declaration of earnings/wealth from the government (like the IRS from the US), which shows all my financial life (how much I earn, own, etc…)

Edit: funny thing, Binance actually did the same!! Grin

I literally can’t use neither of those exchanges. Binance allows crypto txs tho, so btc deposit, swap for usdc, and usdc withdrawal. I just can’t use fiat. CryptoCom is a full block (fiat and crypto).

logfiles

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Top Crypto Casino

Quote from: uneng on February 02, 2023, 03:00:46 PM

I'm going to launch a bitcoin adoption campaign in my local community soon, and in order to give accurate guidance, I'm looking for the best alternative of exchange to suggest people where they can acquire their first bitcoin coins, and hold them (I know it's not recommended, but people aren't going to spend 100$ or more in a cold wallet).

Tell this to people who used to keep funds in FTX thinking it was safe and expensive to spend $100 to buy a hardware wallet. Most of them wish they could go back in time and at least buy a hardware wallet

Not sure if this is the right time to recommend newbies using crypto.com, especially at a time when there is word that they could also have been affected by the FTX/Alameda scam.

bitmover

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Non-custodial BTC Wallet

Quote from: uneng on February 02, 2023, 03:00:46 PM

I'm going to launch a bitcoin adoption campaign in my local community soon, and in order to give accurate guidance, I'm looking for the best alternative of exchange to suggest people where they can acquire their first bitcoin coins, and hold them (I know it's not recommended, but people aren't going to spend 100$ or more in a cold wallet).

If users can't spend $100 to protect their money, they are investing a small amount of money.

Ask them to download a good wallet, such as Electrum Desktop, or Electrum android.

About fees, both crypto.com and binance.com have low fees, so you don't have to worry about that. It is more important to have the fiat pairs you need.

The most important fee for someone who is buying is the Bitcoin withdrawal fee:

https://crypto.com/exchange/document/fees-limits '
BTC withdrawal fee: 0.0005 btc

https://www.binance.com/en/fee/cryptoFee
0.0002 (legacy) 0.0005 (segwit)

They are the same

dkbit98

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Cashback 15%

Quote from: uneng on February 02, 2023, 03:00:46 PM

I'm going to launch a bitcoin adoption campaign in my local community soon, and in order to give accurate guidance, I'm looking for the best alternative of exchange to suggest people where they can acquire their first bitcoin coins, and hold them (I know it's not recommended, but people aren't going to spend 100$ or more in a cold wallet).

So in reality you want to create exchange adoption campaign and not campaign for bitcoin Tongue

Nobody said they should pay $100 for hardware wallets, but spreading word about Bitcoin in your way is wrong.
Anyone can have cold wallet for free using old laptop or smartphone, that is 100 times better than keeping coins on Crypto.com or Binance that can easily collapse like FTX and other lending platforms.
Instead of using centralized exchanges, and going with all verification procedure, I would suggest everyone to try P2P trading and Bisq decentralized exchange.
You can also find trusted members in forum who can exchange Bitcoin for fiat currencies.

One interesting app I heard about that can be used in Europe is called Relai.app, and it can be used without registration.
Fees there are not lowest, but they have non-custodial wallet and you can use it without kyc for your use case.

uneng

hero member

Activity: 2030

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Leading Crypto Sports Betting & Casino Platform

I'm going to launch a bitcoin adoption campaign in my local community soon, and in order to give accurate guidance, I'm looking for the best alternative of exchange to suggest people where they can acquire their first bitcoin coins, and hold them (I know it's not recommended, but people aren't going to spend 100$ or more in a cold wallet).

The main goal is to avoid fees, so they can buy more satoshis with the same amount of money. I thought about three alternatives:

Crypto.com: zero withdrawal fees to bank account, 0,0750% fee on exchanges;

Binance: 0,70$ withdrawal fees to bank account, zero fees on BTC/fiat pairs exchanges;

Local digital bank: zero fees, average 1% spread fees on exchanges.

From the above alternatives, I think Crypto.com is still the cheapest one, unless there are hidden fees I'm still not aware of. What do you think?

Or do you recommend another alternatives?

Topic: Exchange with cheapest fees (Read 229 times)