Topic: When making a payment with Bitcoin how much extra to cover transaction fees? - page 2. (Read 293 times)
April 02, 2019, 12:59:08 PM
As far as I know that Binance charge 0.0005 btc for transactions fees. But It's depends on your total amount of btc. But you may charge higher than 0.0005 sometime.
April 02, 2019, 12:01:35 PM
I think you can just check on websites to see what is the ideal range for sending money but also remember the byte you are sending and the load has more to do with it than the price, a billion dollar transaction on lightning network could have a less transaction fee than a 10 dollar send with old systems even before the segwit came. That is why you should try to find the optimum way to send before you decide what the fee will be like, because with the optimum way you can basically send via almost zero and not have to worry about it.
I even got sent 200 dollars with just 0.03 (literally 3 cents) and it didn't pass for about 2 days (about 35 hours) and it still reached to me in the end, bitcoin usually doesn't deny unless it is definitely zero and even than sometimes passes.
I even got sent 200 dollars with just 0.03 (literally 3 cents) and it didn't pass for about 2 days (about 35 hours) and it still reached to me in the end, bitcoin usually doesn't deny unless it is definitely zero and even than sometimes passes.
April 02, 2019, 11:53:52 AM
As much as you can get the profit, the more profit you can get, you will easily to cover the transaction fee, and you will not worry if the fee will be too bigger than your profit. And yes, in Binance, the transaction fee for withdrawal is 50k and it's too cheap depends on your profit (if you can make a profit with Gunbot).
Or if you still confuse, you need to ask with the Gunbot devs, so you understand how much % you need to add in the setting.
Or if you still confuse, you need to ask with the Gunbot devs, so you understand how much % you need to add in the setting.
April 02, 2019, 03:15:38 AM
You wrote that you want to withdraw from Binance. I don't use Binance, but all exchanges I've used ask for a fixed withdrawal fee, which they'll use as transaction fee at withdrawal (I won't detail it more to keep it simple).
So I think that all you have to put extra is Binance's withdrawal fee, which should be visible in the withdrawal page.
So I think that all you have to put extra is Binance's withdrawal fee, which should be visible in the withdrawal page.
Binance withdrawal fee for btc is 50k satoshi if I remember it correctly. I think it is more than enough to cover the fastest recommended fees at the current network. But afaik, the transactions will not be made with exact 50k satoshi, as most exchange adjusts it based on the latest network condition.
If I were OP, I will prefer to withdraw from binance to my own wallet first then pay to Gunbot from my own wallet. Paying for something is better from our own address imho.
April 02, 2019, 03:11:41 AM
You'll usually be informed about that right before you confirm a transaction. Recently, just throwing btcs to a couple of exchanges, i'm being charged .0005 btc per transaction. It differs of course sometimes but that's usually the rate of transactions i'm making.
April 02, 2019, 02:40:03 AM
The transaction fee depends on the transaction size and how busy the network is. Miners will confirm first the transactions with bigger fee.
But this should not concern you, since you don't pay from your own wallet.
You wrote that you want to withdraw from Binance. I don't use Binance, but all exchanges I've used ask for a fixed withdrawal fee, which they'll use as transaction fee at withdrawal (I won't detail it more to keep it simple).
So I think that all you have to put extra is Binance's withdrawal fee, which should be visible in the withdrawal page.
PS. I wrote for your exact case. I don't pay for goods and services directly from exchange wallet, I pay from my own wallet, because [1] in case something goes wrong and the shop has to refund, it may not be easy to access that money anymore [2] some payment processors have time limit for payment and exchanges don't send the money right away (they may wait for more withdrawals to group them).
But this should not concern you, since you don't pay from your own wallet.
You wrote that you want to withdraw from Binance. I don't use Binance, but all exchanges I've used ask for a fixed withdrawal fee, which they'll use as transaction fee at withdrawal (I won't detail it more to keep it simple).
So I think that all you have to put extra is Binance's withdrawal fee, which should be visible in the withdrawal page.
PS. I wrote for your exact case. I don't pay for goods and services directly from exchange wallet, I pay from my own wallet, because [1] in case something goes wrong and the shop has to refund, it may not be easy to access that money anymore [2] some payment processors have time limit for payment and exchanges don't send the money right away (they may wait for more withdrawals to group them).
April 01, 2019, 06:31:58 PM
Hi, I've got some coin on Binance that I would like to withdraw to make a payment (for Gunbot)
How much % should I add to the quoted Gunbot price - to cover transaction fees?
(ok I looked this up - and i ~think current transaction fee is about 0.5$ per transaction? I'm not sure if that sounds right.)
How much % should I add to the quoted Gunbot price - to cover transaction fees?
(ok I looked this up - and i ~think current transaction fee is about 0.5$ per transaction? I'm not sure if that sounds right.)
Jump to: