Commission for the withdrawal of crypto currency is different from the stock exchange to the exchange, so you do not know exactly how you can save money on such transactions. Some exchanges take a small percentage - often 0.001-0.002 BTC, as on or . Some services, they charge less for their services, even less , for example, the commission is only 0.0005 BTC. A good percentage is also withdrawn for transfer between exchanges, so knowing how and where to save in such cases can be very useful.
Bitcoin's use for making small transfers is rather reckless, because the number of unprocessed transactions has only recently increased, so not only will a commission be paid, so you will have to wait several days for another transfer.
How to be? It's very simple: on the stock exchanges, not only Bitcoin is traded, that's why there are always enough options that allow almost free transfer of small amounts (up to several thousand dollars) of money. If it is a question of serious sums, sometimes it makes sense to calculate the commission and see if it will not be cheaper to pay the commission fee for withdrawal?
To transfer a small amount, you should look for a stock exchange with a minimum commission for the output of the crypto currency.
For example, you need to withdraw 0.01 BTC to a cold purse from the Bittrex exchange, which takes 0.001 BTC for this operation, which is almost ten percent of the withdrawal amount. In such cases, you should look for another solution ... For example, from the Poloniex exchange you can output with a much smaller commission of 0.0001 BTC, which, you will agree, is much more pleasant.
A good tone is to have accounts on different stock exchanges and do not forget to compare commissions with each transfer, because the cost of this operation can change from time to time.
So, we transfer money from Bittrex to Poloniex.
First choose the currency for the transfer. It should meet the following parameters:
- To be cheap. The more "coins" you can buy for your money, the more pleasant will be the commission for withdrawal.
- The difference between the price of orders for purchases and for sale on both exchanges (spread) should be minimal.
- Large volume of trades. The larger the amount is for purchases and for sale, the less likely that during the transfer the rate will begin to change for the worse.
The ideal coins that are best used for translation are Doge or Bytecoin. Both meet our requirements, but transactions in the first are confirmed much faster.
What's next? We change BTC to DOGE, and then send it to the Poloniex wallet, paying two coins of the commission for the transfer.
Sale of funds transferred to the final exchange
There are two options how to do it: sell everything at the current selling price or at the current purchase price - choose.
Doge currency is often used for transfers between exchanges, so it has a very large turnover and many orders for purchase and sale. If you place an order at the sale price, the coins are usually sold for 1-12 hours. Therefore, if you want to save to the maximum, you should wait a little.
Example:
We buy DOGE on 0,01023405 BTC, we go with Bittrex, after an hour we have 0,01019278 BTC on the balance of Poloniex (commission for transfer between exchanges is 0,00004127 BTC = ~ 56 cents), and then we deduce them to the cold wallet for 0.0001 BTC (~ $ 1.4). As a result, the savings on the commission is 0.001-0.00014127 = 0.00085873 BTC (or almost $ 12).
Cozy about crypto-currencies. Severe .
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