Transfer times and fees? - page 2. | Bitcointalksearch.org

Lanatsa

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Quote from: BitcoinTurk on March 31, 2019, 06:22:04 AM

Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

As the mining difficulties increase, we can see that the transactions are realized with more commissions and they are realized in more time. At times I was sending very low transfer fees in seconds, and in some times I was waiting for hours with a high transfer fee. The best thing you can do in the case you specified is that you can use Nano as you said. But I will give you another advice that you will be free of transfer fees if you trade with this service. You can transfer with NEO or NEO Gas. Although the NEO network is very rarely faced with problems, I can guarantee you that all of your transactions will be fast and free of charge. You can also speed up your transaction by paying too low Gas.

There are lots of altcoin or alternatives when it comes to almost instant transfer times and with having free or very low fees compared to traditional Bitcoin.
I cant deny that those alts do provide on what most people do seek out when it comes to transfer rate and fees but still people end up on using btc.
Its just a matter of preference though yet you can choose up a wide variety of alts if you prefer those things.

akram143

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

we can transfer money anytime but the fees is important and we will need to pay it in sometimes it will be extra but the demand with pens and the transfer fee so we cannot change it are we can wait for sometime exchange.

manggis97

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Many exchanges has withdrawal fee of crypto so high like above $10, but many others coin just have withdrawal fee less than $0.1. So important to know which coin that have lowest withdrawal fee and low spread on the exchange.

pratik009

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

Yes you can do it but i think it will also take more time. I recommend you to use XRP beacause it's transaction fees is very less ,but for this you have to first convert your btc in xrp then transfer to the other exchanges ,and there again you have to convert it into btc for your further ttading. So it's depends on you to choose xrp or btc or any otther coin.

BitcoinTurk

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

As the mining difficulties increase, we can see that the transactions are realized with more commissions and they are realized in more time. At times I was sending very low transfer fees in seconds, and in some times I was waiting for hours with a high transfer fee. The best thing you can do in the case you specified is that you can use Nano as you said. But I will give you another advice that you will be free of transfer fees if you trade with this service. You can transfer with NEO or NEO Gas. Although the NEO network is very rarely faced with problems, I can guarantee you that all of your transactions will be fast and free of charge. You can also speed up your transaction by paying too low Gas.

richcorner100

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Yes i always do that when make transfer crypto to others exchange, first i looking for the lowest withdrawal fee of crypto that tradeable on the that exchange. Usually i choose XLM, XRP, NANO, NEO, DOGE to transfer trading balance to others exchange.

hermankoles

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lots of coins that have a small fee and this is beneficial for us if we want to transfer between exchanges or wallets. I usually converge on NANO, ADA, XLM coins and other cheaper coins before making a transfer and I will also check whether the coin is in my destination exchange, this will be more efficient and cheaper than sending BTC between exchanges

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

Transferring Bitcoin to exchanges takes a lot of time and toll. So we should find another way on how to make trades faster and catch the trend. The strategy you shared sure would work fine.

karungbitcoin

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Yes i did it many times when make transfer fund between exchanges, firstly i looking for the cheapest transaction fee of crypto and then i use it to transfer fund to other exchange. I havebeen use NEO because no transaction fee and transaction comfirmation more faster. I always make transfer twice , firstly i use small amount to know everything right and second one i will transfer all of it.

posi

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You did make sense but I also want you to put the fact that NANO could dump in price sharply before scaling through the whole transaction into consideration since altcoin are very speculated. I will advice you to use an exchange which supported SegWit instead, which will handle the fee and transaction.

Kikeeping

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

you do same value when transfer btc to another exchange than convert it to another exchange and convert again to btc. covert your btc into alt where low fee under 1. then tranafer it to another exchange.

Renaldi blackspadeteam

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of course, this idea is a good choice to save time and also costs, I know you Crypto traders with arbitration techniques trade from market to market from the difference in crypto prices.

irsykes

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

Sending bitcoin between exchanges is something that you need to really make sure before do that, that is risk that we must face if we want to do that. If you want to change to other coins maybe think about different price between that exchanges too, don't make it you to loss some of your assets.

farosa

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

If I say the truth, I have no idea how NANO works. When you convert NANO back to Bitcoin you pay an additional fee, so it is more logical to use Ethereum and you don't need to re-convert to any coin again.

LeGaulois

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The daily traders usually have funds in several exchanges to avoid the headaches between transactions fees and time transfer. It also allows trading arbitrage between exchanges. If each time you buy an altcoin to transfer it's going to take time in the long run... so if you can save your time...

rickadone

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Quote from: shivansps on November 08, 2018, 03:31:00 AM

Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

For sure dude. You have a good point. However, your pick isn't that good. NANO isn't listed on every exchange and why would you transfer BTC in this way from exchange to exchange? Just pick a good exchange and trade there. The procedure you describe is more effective if you want to cash out fiat from BTC, then yes it makes sense to buy for example LTC (fast and low fee) and sell LTC for fiat. I don't see NANO for one reason it is not widely accepted. LTC is.

It is not a bad point actually, but what I would do is to basically test the two and see which one would actually make more sense eventually, when it comes to faster transaction as well as fees. Sometimes, you may not really know how effective something is until you at least do some comparison. For me, what I would do normally is to first send part of the bitcoin transaction to the other exchange, and then go through the process of trying to exchange to Nano and then sending afterwards before converting back to bitcoin. Measure up the time and the fees it takes you to achieve both, and you will be able to deduce from there.

CodyAlfaridzi

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I recommend ETH, LTC, and XLM.

Quote from: adaseb on November 08, 2018, 04:35:30 AM

Most exchanges like Bitfinex only charge 40,000 Sats per withdraw and doesn't matter how large or small your withdraw is, hence the reason to just stick with BTC.

Bitcoin tx fee is small now, yes, but most exchanges set a rather high fee for Bitcoin withdrawal. 40K sats is substantial for me, especially if you're going to make a lot of transfer. Compare this to exchange withdrawal fee for coins like Stellar which would be below 1K sats. Even ETH fee is as small as 0.001 ETH which equals around 3K sats.

gioemodau12

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I also usually do as you do. I sell bitcoin to get another currency and use it to transfer it. Bitcoin is too slow and costly

befriendmywater

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

I think it will take you more time. Because you finally bought Bitcoin. I think Bitcoin trading is really good because it's a great coin so its a pretty high fee. that is the value of the fee. You need to understand and avoid wasting your time. Wink

maydna

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Quote from: KjutNikolas on November 08, 2018, 03:09:21 AM

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

I think if you are okay with the fee, you don't need to exchange another coin and stick with bitcoin only. But if you are not okay with the bitcoin fee, then you can exchange it into Dogecoin and send it to another exchange. Dogecoin only needs 5-10 satoshi for the transaction and the confirming time will not take too long. I don't know how much the fee of the transaction for NANO because I don't use that coin. Or maybe you can try with waves, and I think the fee is not too big and maybe it's almost equal with Dogecoin.

Topic: Transfer times and fees? - page 2. (Read 2316 times)