This is a good strategy when you want to transfer your fund with a low-cost fee, choose another coin with a low fee into your wallet that supports multi coins, and then convert it to Bitcoin. But this depends on the wallet that you have to use.
You don't need a wallet just directly send the coins to whatever exchange he wants. The important is the network must be the same. If you are going to use a wallet to receive them before you send them again to another exchange it would cost you more fee than directly sending it to the exchange he wants. 
Topic: Lowest Priced Exchange For Buying and Transferring BTC (Read 120 times)
Dont you want to remove the word lowest and search for an exchange that will have a best offer in the market? While hunting for lowest price, you can find an exchange that will scam you. I would better search for an exchange with reputation, instead of trying to economize couple of dollars. I would go for something that does not require KYC. Maybe an IRL exchange would a better option for you.
-snip-
Keep in mind, that each exchange not only has their % deposit fee, but they may have also built in their profits into the rate they give me for Tether.
Keep in mind, that each exchange not only has their % deposit fee, but they may have also built in their profits into the rate they give me for Tether.
Generally, crypto deposits are free on any exchange so option b is pretty good in my opinion. You just buy USDT on one exchange with your credit card and then distribute it to other exchanges. If the 5 exchanges are top of the list, they should support TRC20 network USDT deposits which will only charge you 1 usdt per withdrawal.
Check the user requirements of each exchange first, they sometimes require KYC and ask for it after you make a deposit.
Binance charges 0.0005 just for an external transfer, making it prohibitive.
Just use Trustwallet because it has a multi-functions of networks, the withdrawal of Bitcoin BEP20 network in Binance exchange is 0.000005 and the deposit is free. You can refer to in this Deposit & Withdrawal Fees on Binance and you will find out which coin is good for transferring or making a deposit and the only way wallet to use is I think Trustwallet and then send it into your external wallet. So I'm wondering what the cheapest way would be for me to send money to each of these exchanges?
If your problem is to transfer funds to another exchange with the cheapest fee as possible you can buy other coins like XRP and send them to other exchanges.So I'm wondering what the cheapest way would be for me to send money to each of these exchanges?
If your problem is to transfer funds to another exchange with the cheapest fee as possible you can buy other coins like XRP and send them to other exchanges.
Or you can use BTC they have other networks that ask for a very cheap fee Bep20(Binance chain) it's around 20 cents I think in USD.
But make sure before you are trying to send BTC with other networks make sure the exchange also supports Bep20(Binance Chain) this is risky if you don't know how to send with other networks always make sure they are in the same chain or network because if you sent it in a wrong network most exchanges won't able to give you a refund.
First rule, DON'T keep any coins on centralized exchanges, or be ready to accept the risk and lose everything in event of next hack that is ready to happen.
You are not a trader and you don't have a clue what you are doing, so it makes it even worse.
Going for cheapest option is not always the best and I don't understand why would you send fiat money there and exchange it with fake fiat like USDT that is much more risky.
Bank transfers usually have less fees than credit cards.
Buy directly using p2p trading, pay with cash or use decentralized exchange Bisq.
You are not a trader and you don't have a clue what you are doing, so it makes it even worse.
So I'm wondering what the cheapest way would be for me to send money to each of these exchanges?
You don't need to use five exchanges for this, and you don't need to complicate things when you already know what fees they charge.Going for cheapest option is not always the best and I don't understand why would you send fiat money there and exchange it with fake fiat like USDT that is much more risky.
Just upload an amount via credit card or bank transfer to each of these exchanges?
Credit cards have highest fees for sending to exchanges so you can eliminate this option.Bank transfers usually have less fees than credit cards.
Should I upload the total amount to one exchange, and then transfer from that exchange to all the other exchanges, and bear the network fee?
Depending on coins and network you are using, you will have to pay withdrawal fees that can be very high sometimes, so it's double waste of money if you do this.Any idea as to the best and cheapest route to take?
I will say this for the last time and I will not repeat.Buy directly using p2p trading, pay with cash or use decentralized exchange Bisq.
I'm still trying to figure out the best way to do this...
I've opened an account at 5 different exchanges.
I want to send some money to each of these exchanges and have it sit there as Tether.
Each exchange has their fees for deposits, usually as a percentage.
So I'm wondering what the cheapest way would be for me to send money to each of these exchanges?
Should I:
a) Just upload an amount via credit card or bank transfer to each of these exchanges?
b) Should I upload the total amount to one exchange, and then transfer from that exchange to all the other exchanges, and bear the network fee?
c) A different approach.
Keep in mind, that each exchange not only has their % deposit fee, but they may have also built in their profits into the rate they give me for Tether.
Any idea as to the best and cheapest route to take?
JH
I've opened an account at 5 different exchanges.
I want to send some money to each of these exchanges and have it sit there as Tether.
Each exchange has their fees for deposits, usually as a percentage.
So I'm wondering what the cheapest way would be for me to send money to each of these exchanges?
Should I:
a) Just upload an amount via credit card or bank transfer to each of these exchanges?
b) Should I upload the total amount to one exchange, and then transfer from that exchange to all the other exchanges, and bear the network fee?
c) A different approach.
Keep in mind, that each exchange not only has their % deposit fee, but they may have also built in their profits into the rate they give me for Tether.
Any idea as to the best and cheapest route to take?
JH
The problem with the main exchanges is that they have a high fee on transferring.
Binance charges 0.0005 just for an external transfer, making it prohibitive.
Know of any that charges minimal amount for external withdrawals?
JH
But that's the lowest because I haven't really tried FTX platform yet, also I paid more than 0.0005 BTC while making withdrawal from other exchanges which includes some insane value if we calculate the current BTC value. You can definitely try FTX because it is also a good exchange. Binance charges 0.0005 just for an external transfer, making it prohibitive.
Know of any that charges minimal amount for external withdrawals?
JH
Thanks, I'll check these out.
JH
I made some topic recently about aggregators for exchange withdrawal fees, so you can check them all out:
Withdrawalfees
https://withdrawalfees.com/coins/bitcoin
Cryptofeesaver
https://www.cryptofeesaver.com/exchanges/fees/coins/bitcoin
Cryptowisser
https://www.cryptowisser.com/exchanges/
JH
Know of any that charges minimal amount for external withdrawals?
FTX.com exchange is probably charging the lowest withdrawal fees for most coins, for Bitcoin they are free last time I checked.I made some topic recently about aggregators for exchange withdrawal fees, so you can check them all out:
Withdrawalfees
https://withdrawalfees.com/coins/bitcoin
Cryptofeesaver
https://www.cryptofeesaver.com/exchanges/fees/coins/bitcoin
Cryptowisser
https://www.cryptowisser.com/exchanges/
Know of any that charges minimal amount for external withdrawals?
FTX.com exchange is probably charging the lowest withdrawal fees for most coins, for Bitcoin they are free last time I checked.I made some topic recently about aggregators for exchange withdrawal fees, so you can check them all out:
Withdrawalfees
https://withdrawalfees.com/coins/bitcoin
Cryptofeesaver
https://www.cryptofeesaver.com/exchanges/fees/coins/bitcoin
Cryptowisser
https://www.cryptowisser.com/exchanges/
The problem with the main exchanges is that they have a high fee on transferring.
Binance charges 0.0005 just for an external transfer, making it prohibitive.
Know of any that charges minimal amount for external withdrawals?
JH
Binance charges 0.0005 just for an external transfer, making it prohibitive.
Know of any that charges minimal amount for external withdrawals?
JH
Does anyone know the lowest priced exchange that would be the cheapest on Deposit with a credit card and then transferring out also.
You can use something like bestchange.com to see what exchanges have best rates for purchasing or selling bitcoin, but credit cards purchases usually have much higher fees.Maybe best thing would be to skip centralized exchanges and use P2P trading or Bisq decentralized exchange, and receive BTC directly to your wallet.
That way you wont have to pay double fees or high withdrawal fees from exchanges.
If you are going to P2P the exchange rate is pretty high same on buying directly to Bitcoin ATMs.
So go directly on a trading exchange like Binance but the only problem is that you need to be KYC verified before you can able to buy BTC and the withdrawal fee is a bit high.
Check this link https://www.binance.com/en/buy-bitcoin
If you want a free withdrawal try to buy Bitcoins on FTX exchange read this https://help.ftx.com/hc/en-us/articles/360034865571-Blockchain-Deposits-and-Withdrawals
You have a free transaction fee only if you withdraw 0.01BTC 1 time daily.
So go directly on a trading exchange like Binance but the only problem is that you need to be KYC verified before you can able to buy BTC and the withdrawal fee is a bit high.
Check this link https://www.binance.com/en/buy-bitcoin
If you want a free withdrawal try to buy Bitcoins on FTX exchange read this https://help.ftx.com/hc/en-us/articles/360034865571-Blockchain-Deposits-and-Withdrawals
You have a free transaction fee only if you withdraw 0.01BTC 1 time daily.
Hi, I'd like to buy BTC via Credit Card and then I'd like to transfer that BTC to an external address.
Does anyone know the lowest priced exchange that would be the cheapest on Deposit with a credit card and then transferring out also.
Any ideas?
JH
Does anyone know the lowest priced exchange that would be the cheapest on Deposit with a credit card and then transferring out also.
Any ideas?
JH
Jump to: