Transfer times and fees? - page 4. | Bitcointalksearch.org

clrpod

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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 🙂

On some exchanges that's best. I often times used DOGE for such a thing because the transfer fees were as low as 1-2 dogecoin. The only problem is you are then doing more trades so more trade fees and you might have to wait to buy/sell the currency you swap your bitcoin in to temporarily.

elda34b

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Why did you have to transfer your bitcoin from one to other exchanges? Are you doing arbitrage?
Rather than XRP or LTC, I think XLM is a better choice. Most exchanges only take around 0.01 fees to withdraw, which is relatively cheap if you compare it to XRP or LTC.

Herlina

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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 🙂

Not only fast but you need to look at price situations to determine the most profitable coin because most centralized exchanges require approval from the officer and they can take a long time to approve your deposit, So you can avoid losses from late deposits if you choose the most profitable coins

adaseb

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You are better off just sticking with Bitcoin itself at the moment. The memory pool is mostly empty these days and most transactions have very low fees.

If you buy an alt, just to get fast transfer times, keep in mind you need to sell that alt back and you will lose on the spread and maybe the price of the alt will change in that little time.

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.

rhomelmabini

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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 🙂

That's good to do bro to make the transfer fast. Just do transfer a coin/token that has speed of lightning on every transaction.

Quote from: KjutNikolas on November 08, 2018, 03:48:34 AM

I just made an example. What about XRP? Isn’t that the fastest one? I would need the fastest and most widely accepted yeah.

Maybe you are correct with that again and it's available in this article I just read on Medium see the reference below:
https://medium.com/@johnhinkle_80891/the-fastest-cryptocurrency-transaction-speeds-for-2018-498c1baf87ef

I guess the OP knows but can't decide which to. Hope it helps you.

KjutNikolas

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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.

I just made an example. What about XRP? Isn’t that the fastest one? I would need the fastest and most widely accepted yeah.

shivansps

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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 🙂

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.

KjutNikolas

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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 🙂

Topic: Transfer times and fees? - page 4. (Read 2316 times)