fee transfer too high? - page 4. | Bitcointalksearch.org

dunfida

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Quote from: gasse on December 15, 2017, 08:31:45 AM

Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you make good trading if everytime you have to transfer money from wallet you have to pay so high fee? I did mistake something? thanks

You did nothing wrong since coinbase do have a default set up on the fees which is incredibly high this is why i dont make any trades or transfers using them since you cant really change up the fees and i cant afford to pay up such big amount.Better to wait than on wasting up money on just on fees. For now i am using electrum which i can set out fees even more lower on most exchanges do suggest.
It would really be more worth of but you would really need to wait up because if you do see the entire network is already congested as of now.

nabilanur

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Nothing to do at this time.Because bitcoin rate is so big.then transaction fee is big.Yet I think, eth transaction fee is small.if you want then buy some eth and deposit on exchange site. Cry

std1391

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lately due to crazy transactions fee of bitcoin network has been rised up so bad!
but i usually change it to IOTA when i want to move it ,it is 0 fee Grin

psibenik

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Bitcoin transfer fees are crazy high, it's practically unusable except as a store of value. I've seen it as high as $25, and it'll probably only get worse when CME launches, leading to better returns on altcoins.

HatakeKakashi

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Last few hours ago I also make a transaction the worth only is 60 dollars but the transaction fee is very high is 17 dollars and that's very sad because count too think of it it's very hard to get that amount but it less than a minute you will pay for the fee is very high . I hope the fee will back again because if the price of the bitcoin increase the trasaction fee will decrease like before 20k satoshi only . I don't know why the fee sometimes is very high and sometimes is exact to the amount of bitcoin that you send.

bob3772

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Quote from: gasse on December 15, 2017, 08:31:45 AM

Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you make good trading if everytime you have to transfer money from wallet you have to pay so high fee? I did mistake something? thanks

You didn't make a mistake and the fees are just very high rate now, unfortunately you don't have much choice if you want to trade. Coinbase set the fees for you and so there's no option. If you have your bitcoin in some other wallets you can choose the fee yourself and then set it much lower, it would take some time but worth it. For your situation though just suck it up and hope your trading goes well, if it does you'll have that $12 back in no time.

ForeverSmall

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yes it is , blockchain said it because of the high traffic and etc , i think it just a recent for you to pay more to the miner they can cut off a miner a little but they don't and they cut us

)

Thanasis

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Quote from: gasse on December 15, 2017, 08:31:45 AM

Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you make good trading if everytime you have to transfer money from wallet you have to pay so high fee? I did mistake something? thanks

Coinbase have fixed transaction fee so you cannot do anything but normally fee will be less than the current situation the fee is high due to more number of pending transaction it will be resolved soon.But you can choose other wallet like blockchain which may able to adjust the fee but you need to wait for too long for your transaction too get confirmed.So it is better to stop trading for somedays or your profits will be wasted in the form of fee.

dothebeats

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Quote from: teinblek on December 15, 2017, 11:45:30 AM

lately the transfer fee is so high that it causes many obstacles for the bitcoiners besides the transaction is also slow and takes a lot of time

Well yeah until we come up with a solid solution to address all scaling issues accompanied with the growth of bitcoin, we would suffer from high fees to get our transaction confirmed faster than the usual. This is what also scares newbies from buying into bitcoin; the insane amount of transfer fees and uncertain amount of time before they can receive or send transactions.

Quote from: mobnepal on December 15, 2017, 10:36:13 AM

I think moving bitcoin from coinbase to gdax doesn't include any transaction fee, you can try gdax for trading for right now.

Yes and they're instant AFAIK so it's best to just exchange between the two if you want to avoid spending too much on fees.

ClvrGmr

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That is basically normal. Bitcoins price has been growing a lot lately. Fees will be affected in that case because if bitcoins value rises up the bitcoin equivalent will rise too. But for me a 12$ for a 100$ is a middle type of fee and it is reasonable.

frowsiter

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Quote from: gasse on December 15, 2017, 08:31:45 AM

Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you make good trading if everytime you have to transfer money from wallet you have to pay so high fee? I did mistake something? thanks

The fees are naturally very high and there is no use of crying about it. These people will never get it down as long as there is sufficient development over the block chain. Its not the fault of coinbase or any other wallet as whatever is been taken is just network fees from you. In some of the wallet, and mostly the wallet for which we can hold the private keys, we can get the fees cut down to smaller one but that will ultimately get us to slower transaction. This transaction could be as slow as more than 25 blocks and in terms of time it could take a whole day or two to confirm it. So for now we only have option of paying such high fees and we can't do anything about it.

teinblek

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lately the transfer fee is so high that it causes many obstacles for the bitcoiners besides the transaction is also slow and takes a lot of time

mobnepal

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If you want to trade your bitcoin rather than use them to buy something than keep it in multiple exchanges to cut fees when you want to buy some altcoin and to lower down risk of losing all your bitcoin during possible hack or shutdown of exchanges.

I think moving bitcoin from coinbase to gdax doesn't include any transaction fee, you can try gdax for trading for right now.

harizen

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Quote from: gasse on December 15, 2017, 08:31:45 AM

Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you make good trading if everytime you have to transfer money from wallet you have to pay so high fee? I did mistake something? thanks

Just a Coinbase wallet for wallet purposes or you purchased your bitcoins at Coinbase for the first time?

If for wallet purposes, try not to used an exchange wallet since they are bound to have an increase with fees to ensure that funds won't be traffic along the way, that was fixed. But take note that while bitcoin price is increasing, you can really feel how high it was in terms of USD value as 50,000 satoshis today have different USD value on 50,000 satoshis in the past. You can modify fees at desktop wallets instead e.g Electrum but try not to set below the recommended fees or your transaction will stuck for long time.

If purchasing bitcoin directly at exchange, try to explore the trading platform you have chosen and check if you can able to do direct deposits there in order to purchase bitcoin. If you are comfortable with their bitcoin deposits methods then used it instead. Just do research since not all coins are same listed on different exchanges.

gasse

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thanks to all...i understand... Grin

Shinza

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Quote from: gasse on December 15, 2017, 08:31:45 AM

Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you make good trading if everytime you have to transfer money from wallet you have to pay so high fee? I did mistake something? thanks

The increase in btc will result in higher fees for every transaction. The fee is fixed at a fixed rate at btc, so you must consider before making any transaction. especially in the present time. btc prices are very high.

tothetop

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Quote from: gasse on December 15, 2017, 08:31:45 AM

Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you make good trading if everytime you have to transfer money from wallet you have to pay so high fee? I did mistake something? thanks

Hi

You did nothing wrong, but sometimes BTC blockchain is overloaded, and the fees are going higher..

I don`t use CoinBase but blockchain.info has the option of customizing the fee, which vary depending on current blockchain load, you can set the fee even lower than recommended (red letters), but then your transaction may stuck and you will have to wait

Also you may use some cold desktop wallet where you can set the fee even to zero, but of course it can stuck too, especially now

So, I`m using blockchain.info and I wait for a good time to make cheap transaction..

When you will move your BTC from exchanges - they generally have fixed fee of BTC 0.001-0.002, so I move minimum BTC 0.2 or use another coins for smaller transactions

So, it`s not all, but enough to start, investigate the questin further and good luck

Darwin02

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Quote from: gasse on December 15, 2017, 08:31:45 AM

Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you make good trading if everytime you have to transfer money from wallet you have to pay so high fee? I did mistake something? thanks

You can try to deposit other coin like ether or litecoin then convert it to btc when you already sent it to exchange . that's the best thing to do if you want to pay lower fees than BTC fees.

LeGaulois

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Yep, Coinbase has fixed fees to pay the miners for the transaction, so you have no choice to avoid this. This a cost that you have to consider with your profits while trading. You can hold your bitcoins on the exchange and move them when you accumulated a large ammount, or you convert to some altcoins that have cheap transfer fees such as doge, ripple, and others. It's up to you with the goal you have.

DaMut

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no you did not make any mistakes,
it's all due to the traffic that we're currently face that is why you need to use a higher or their recommendation fees a slightly higher compared to other.
also at the same time our current price make it even worst.
do not worry,all that you need to do is paying the fees from your coinbase account to bittrex account.
other than that you do not need to pay anything,
you will be charged if you're moving your balance to other wallet not to make a trade.
if you make a trade you're only need to pay a fees around 1%~ or less than that for every transaction,
it's totally different if you're sending your coin from wallet A to wallet B.

Transaction Fees : The fees that you need to pay for every transaction that you made,or sending your coin from your wallet to other people wallet.
Trading Fees : it will only be charged to you if you make a trade,and it's very little around 1% or less than that

Topic: fee transfer too high? - page 4. (Read 492 times)