Bitcoin Fees Eating my funds - Do you have any advice to minimise the fees
Hey Steemians,
today I got my new crypto safe the Ledger Nano S where I like to store my digital funds.
With such a safe device, you may want to put your BTC into this safe place.
I tought to myself:
So why not moving the few Bitcoins from my several wallets into this safe place.
Sounds logical...
But than the fees
I open my Exodus Wallet and started a transfer of around $120 USD
Have a look...
And than I stopped
Looking to my hard earned few little bitcoins, I though it will cost me some 3 or 4% to make a transfer but have a look
The Bitcoin Network Fee is 24%
This screen shows me, that someone is eating a forth of my Bitcoin cake for what??
Help help HILFE
No I ask myself:
Do I something wrong?
or
Do I miss a part of this Bitcoin story?
or
Is Packman there to eat my Bitcoins?
If I look to the graphic, which I made quickly by Excel, I had the idea of packman but ...
Help help HILFE
Please tell me if I'm just to stupid to handle this proper (I can accept some harsh critic) or do I really miss a part of the Bitcoin story or ....
by Pixabay
F E E D B A C K
Love to get some background information from some of our Bitcoin stars like @hilarski @cryptodan @aaronkoenig @stackin or even @ned from #steemit
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Die haben for kurzem die Transfergebühr erhöht weil es so viele anfragen gab und es deswegen so langsam geworden ist. Ich benutze einfach ETH oder LTC für überweisungen zum Beispiel um sie zu coinbase zu schicken und sie dort dann in btc zu tauchen.
Hey, aber 24% is doch Wucher
Ja auf jeden fall, aber so was gibt es nicht nur in crypto welt, mein Bruder der gerade in england ist, wurde am Flughafen bei der Wechselstube auch ziemlich abgezogt. Er hat dort ein 0.66 Wechselkurs bekommen stat dem offizielen 0.88.
Man wechselt doch nicht am Flughafen.....
Alte Traveller Weisheit. ;-)
Gruss an den "wilden Kleinen"
That’s nuts and I experienced the same!
I just leave my BTC wherever it is and do transfers through LTC. I even started investing in a few other coins. I can’t believe the bullish hype will last. Dash And EOS, even Bitcoin cash ( I have a feeling this will go further .....)
Thanks @massivevibration for this advice. Let's see what else will come to this topic.
Yeah for all the talk of seamless international transfers and killing the banking manopoly the fees are insane on some exchanges - if BTC acted like a 'normal' currency, i.e. movements of 3,4,5% then it would eat all your profits.
Hey @BuzzBeerGeek, @twinner and @uwelang, what is your opionion and/or advice on this #BTC topic
Ich fürchte mit den Fees muss man inzwischen leider leben :-(
nee, vorher einfach in einen anderen Coin wandeln. Falls Dein Guthaben hoch genug ist, denn bei Exodus verlagt man ein MIndestguthaben von ca. 250 USD, damit Du überhaupt in einen anderen Coin tauschen kannst.
Those fees are extremely high, wow @detlev something to do more research into.
you sould. with all this funny number we have with BTC, this sounds for me much.
Your calculations are right even from BTC it works out to 23.71037532% perhaps we all need to be more aware and check costs, move bitcoin at a slower level (that will also increase, most exchanges do offer fast movement at a higher price).
I also got the Nano S for safe keeping, instead of moving my little down I keep investing into passive earnings. When I get around to having enough to move I will double check what you have alerted me to here @detlev
Hi Joan, thanks for the feedback and yes, we have to have an eye on all this fees. The exchange made their living from fees and the non effective coins as well.
Steem offers a unique way to pay little amounts with no other costs involved and this will help to grow this coin and network.