How to save on bitcoin withdrawal fees
Today i wanted to transfer 0.00685635 BTC (about $29.5) from my Yobit account to my Bittrex account and i noticed that the fee was quite big (0.0015 BTC = $6.45) .
Had i withdrawn BTC directly like this, i would have ended up with 0.00535635 BTC ($23.05) in my Bittrex account, a whopping 21.8% loss!
If you ever find yourself in a similar situation, i want to share with you a better way to handle the transfer. I converted my 0.00685635 BTC to 16689 DOGE and withdrawn that to my DOGE account on Bittrex. The fee for withdrawing DOGE was only 2 DOGE (aproximateley $0.0035).
So i ended up with 16687 DOGE in Bittrex , which i then exchanged to bitcoin resulting in 0.00665836 BTC.
Since i've started with 0.00685635 BTC in Yobit, the total cost of the transfer was 0.00019799 BTC ($0.85) wich is a lot better than $6.45 :)
Doge is a sweet little coin - I'm surprised it isn't used more to move money from exchange to exchange.
You sir, are a genius :D
:) thanks
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