Topic: How Do You Avoid High Fees When Exchanging Currency? (Read 455 times)
If the fee is high i think they have problems in transaction or the price of digital currencies like btc and some altcoins are really high so to avoid that don't make transaction in that time and i think after a few weeks it will back to normal.We can also think that fee here is good even it's low or it's high for the safe of our money and for fast transaction here in crypto.
So I'm totally new to this, I researched on some currencies and thought to myself that I should invest while they're at such a low price. I buy like 200$ worth of bitcoins. I pay 20$ worth of fees for the exchange (changelly). Then I download a wallet so I can exchange for other currencies, using Jaxx a.t.m. So when I swapped like 45$ worth of bitcoins to another currency, I had to pay 19$ worth of mining fees. I don't mind the swapping fee but the mining fee is ridiculous. Why am I paying almost the double just to buy a freaking currency? I feel very much scammazed. There are like 3-4 other currencies I want to buy as well, but at this rate I'm going to loose whatever I invested to begin with. What the heck is going on?
How do you guys avoid this? The mining fee rate was on low by the way. Just checked with other swaps, it's all the same. Whatever I swap there's a 0.00095 BTC mining fee, now that's huge for me considering what I swapped was only worth 0.00200 BTC. All the profit I'm making is going to some damn fees that according to most people are going back to the system. I mean don't the big companies own most of this system anyways? Also I can't buy other currencies other than bitcoin with Changelly, why?
"Help me obe one kanobi, you're my only hope."
How do you guys avoid this? The mining fee rate was on low by the way. Just checked with other swaps, it's all the same. Whatever I swap there's a 0.00095 BTC mining fee, now that's huge for me considering what I swapped was only worth 0.00200 BTC. All the profit I'm making is going to some damn fees that according to most people are going back to the system. I mean don't the big companies own most of this system anyways? Also I can't buy other currencies other than bitcoin with Changelly, why?
"Help me obe one kanobi, you're my only hope."
Frankly, I don´t think you have conducted an appropriate research. The fees and how to avoid them is problably Crypto 101. How did you come to the conclusion that you should send bitcoins around in small quantities?
To avoid the cost of bitcoin exchange you have to exchange in local exchanges because although the exchange fee is high but bitcoin price there is quite high from the market price outside, it can be up to 5% as in bitcoin exchange site indonesia. bitcoin co.id, bitcoin prices are quite expensive compared to the outside market so that it can reduce the exchange rate.
Guys i will give you a tip: Just deposit all your funds on localbitcoins, they will charge you 0.001 for doing so.
But you are never going to need to pay fees, everytime that you want to send money, it will always cost you one dollar o so to send money, doesnt matter how many transactions you make.
But you are never going to need to pay fees, everytime that you want to send money, it will always cost you one dollar o so to send money, doesnt matter how many transactions you make.
This is bad advice for two reasons. First, you don't control the private keys on Localbitcoins. If they get hacked or the site goes down, your funds may be lost or you may not be able to access them. Secondly, I've seen many complaints about Localbitcoins sending out low-fee transactions that take a very long time to confirm on the blockchain. Personally, I've never been impressed with their service.
Crypto-Bridge (in beta with open markets) is a decentralized solution with orders executed on another blockchain (graphene), which is very fast/low fees. Interesting premise, but the markets aren't very liquid yet.
Guys i will give you a tip: Just deposit all your funds on localbitcoins, they will charge you 0.001 for doing so.
But you are never going to need to pay fees, everytime that you want to send money, it will always cost you one dollar o so to send money, doesnt matter how many transactions you make.
But you are never going to need to pay fees, everytime that you want to send money, it will always cost you one dollar o so to send money, doesnt matter how many transactions you make.
Today I decided to cashout my other bitcoin but in the coinbase the transaction fee is very high and I dont think why the fee now is very high it's all aboit is $15 fee and thats not good to the people can earn only enough bitcoin. So idecided to not cashoit my other bitcoin so I will save it try to transact one to save miner fee. I have it will lower like before.
So I'm totally new to this, I researched on some currencies and thought to myself that I should invest while they're at such a low price. I buy like 200$ worth of bitcoins. I pay 20$ worth of fees for the exchange (changelly). Then I download a wallet so I can exchange for other currencies, using Jaxx a.t.m. So when I swapped like 45$ worth of bitcoins to another currency, I had to pay 19$ worth of mining fees. I don't mind the swapping fee but the mining fee is ridiculous. Why am I paying almost the double just to buy a freaking currency? I feel very much scammazed. There are like 3-4 other currencies I want to buy as well, but at this rate I'm going to loose whatever I invested to begin with. What the heck is going on?
How do you guys avoid this? The mining fee rate was on low by the way. Just checked with other swaps, it's all the same. Whatever I swap there's a 0.00095 BTC mining fee, now that's huge for me considering what I swapped was only worth 0.00200 BTC. All the profit I'm making is going to some damn fees that according to most people are going back to the system. I mean don't the big companies own most of this system anyways? Also I can't buy other currencies other than bitcoin with Changelly, why?
"Help me obe one kanobi, you're my only hope."
How do you guys avoid this? The mining fee rate was on low by the way. Just checked with other swaps, it's all the same. Whatever I swap there's a 0.00095 BTC mining fee, now that's huge for me considering what I swapped was only worth 0.00200 BTC. All the profit I'm making is going to some damn fees that according to most people are going back to the system. I mean don't the big companies own most of this system anyways? Also I can't buy other currencies other than bitcoin with Changelly, why?
"Help me obe one kanobi, you're my only hope."
Have you tried to use Poloniex ? Low fees, 0 inconvenience.
I've traded in between altocins and bitcoins the whole year without problems.
To avoid high fee when transfer, you should use exchange like Wex.nz , Bittrex, Binance. Dont use Jaxx or changlly because they have high fee.
what you're paying for with jaxx (shapeshift onboarding) or changelly is wallet-to-wallet trading. this way, you don't need to keep your funds on deposit at an exchange, which carries third party risk. it's basically the equivalent of depositing X to wex.nz, swapping for currency Y, and withdrawing it to your own wallet.
if you're comfortable leaving funds on the exchange, then use centralized exchanges. but the less time you do so, the better. these exchanges are prone to hacks, exit scams and seizures.
Bitcoin transactions are quite expensive nowadays. It is better if you convert to another less expensive coin and then trade it for Bitcoin on another exchange.
It is likely that the rise in price of Ethereum and Ripple are at least a bit related to that ridiculous fee. Miners are greeding thenselves to death.
To avoid high fee when transfer, you should use exchange like Wex.nz , Bittrex, Binance. Dont use Jaxx or changlly because they have high fee.
All exchanges now are in a way, getting higher fees, even those that you've mentioned. One way would be to convert your btc to an alt that has lower fees, do the transaction, and then convert it again to btc.
Yea I realised the mistake I made so far, lost about half my investment due to fees and most of the profit I made. Bitcoin is a definite no-no for small investers. What has it become? It's yet another tool to make the rich richer and make small buyers like me poorer. And those damn miners are getting heftier paychecks (not small miners) every day. Just watch youtube and you'll know what I mean.
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To avoid high fee when transfer, you should use exchange like Wex.nz , Bittrex, Binance. Dont use Jaxx or changlly because they have high fee.
change to ltc or monero. get coins out and change back. problem are %trading fees. u ll loose coins...
One way is to find exchange that has a low fee. And the other alternative is swap coin that wants to be withdraw into altcoin. Altcoin is probably one of the best ways to avoid high fees. Most altcoin has a low fee than Bitcoin.
I have tried several times do that looking for exchange at the cheapest cost and of course, the exchange must have the same coin because sometimes I find some incomplete items and I tend to do experiment not just choose one Altcoin. another point is the coin in a stable radar in price. well, this all to reduce the cost of withdrawal Bitcoin increasingly insane, but if your situation is not so pressed
One way is to find exchange that has a low fee. And the other alternative is swap coin that wants to be withdraw into altcoin. Altcoin is probably one of the best ways to avoid high fees. Most altcoin has a low fee than Bitcoin.
I have tried several times do that looking for exchange at the cheapest cost and of course, the exchange must have the same coin because sometimes I find some incomplete items and I tend to do experiment not just choose one Altcoin. another point is the coin in a stable radar in price. well, this all to reduce the cost of withdrawal Bitcoin increasingly insane, but if your situation is not so pressed 
A few days ago I made a transaction via Xapo that shocked me, because I had to pay a fee of $25 to be able to get a minimum amount of bitcoin. But now returning to the same wallet, just a couple of weeks after my previous transaction, I find the surprise that to carry out the same operation, the rate has increased to $51. So this has no remedy and the rates will continue in a continuous and exponential rise?
By the way, it is not clear to me why there is such a large differential between the different exchanges. Today I made other transactions in different wallets and exchanges and the fees to tansfer bitcoin were $15, $17 and $2. Could it be that only Xapo has these excessive costs?
By the way, it is not clear to me why there is such a large differential between the different exchanges. Today I made other transactions in different wallets and exchanges and the fees to tansfer bitcoin were $15, $17 and $2. Could it be that only Xapo has these excessive costs?
i don't take into consideration the trading fees cause i'm not used to trade a lot
but if it's your case you should try exchanges like binance(BNB) or kukoin where you can use their own platform coins to cut the fee costs
but if it's your case you should try exchanges like binance(BNB) or kukoin where you can use their own platform coins to cut the fee costs
One way is to find exchange that has a low fee. And the other alternative is swap coin that wants to be withdraw into altcoin. Altcoin is probably one of the best ways to avoid high fees. Most altcoin has a low fee than Bitcoin.
i am agree with it that altcoin are lower fees than altcoin , for me the way on how you are able to avoid is where you are able to take that on how you exchange each of it make sure and maybe that you know what you are doing for with it.
Instead of swapping the BTC through some scam machine why don't you use the popular exchanges to buy whichever Altcoin and how much ever you like. The fees are obviously too less on the exchanges. Bittrex has just 0.25% as the trading fee to buy any altcoins.
If you want to transfer the coins to some other exchange you can do that as well by using altcoins which are much faster and cheaper.
Bitcoin should now be bought just to be HODL and not make transactions as the fees will eat up your profits.
If you want to transfer the coins to some other exchange you can do that as well by using altcoins which are much faster and cheaper.
Bitcoin should now be bought just to be HODL and not make transactions as the fees will eat up your profits.
So I should convert my Bitcoins into another coin, let's say Litecoin, then exchange that for alternative coins? Wouldn't that just make me loose even more? How come I can't buy alternative coins for USD on exchanges? I can only buy Bitcoins.
Yeah most of us have no choice but buy bitcoin before being able to trade for other alts but you can check on stellarterm you can buy Lumen coins (XLM/STR) there using USD, CNY, and other supported fiat by anchors then trade your xlm in exchange like polo and bittrex
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