Topic: Transaction fee - page 2. (Read 295 times)

Like Alluro said, it can be done, however, you'd have to follow following steps:

1) open an account on a trusted exchange, generate a BTC deposit address
2) deposit BTC to the exchange... You'd still face a big tx fee when depositing your funds. The exchange might, or might not ask for a deposit fee
3) exchange BTC to an altcoin like ETH or LTC. The exchange allmost always asks for an exchange fee
4) withdraw your altcoin either directly to the receiver, or to your own altcoin wallet. You'll need to pay for a withdrawal fee which might or might not be higher than the actual miner's fee payed by the exchange

IF you want the altcoin to be converted back to BTC, you'll have to follow the procedure again, but now deposit the alt, exchange to btc and withdraw the btc.

As for your question wether it's profitable: it CAN be... If you're going to pay a lot of people, and they're accepting the altcoin in question, you might save a ton on transaction fees... Also, if the alt's price rises compared to BTC's price, you might be able to book a profit (keep in mind the relative price might also drop in comparison to bitcoins)... However, keep in mind that exchanging BTC to ALT's also costs extra transaction fees, deposit fees, withdrawal fees and exchange fees... So if those costs are higher than the potential profit, you're at a loss.
Also, exchanges can go bancrupt or turn scam pretty easily.

Yes it's better and you can use Litecoin too. Litecoin transaction fees are pretty cheap.

Bitcoin transaction fee is very high. Can we transfer BTC by converting    to any ETH or smart contract based coin and then transfer ? is this profitable ?