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RE: A Word of Caution for Poloniex Users and Traders
What is their fee... I mostly use such services as a steem to fiat gateway... I convert to bitcoin and then transfer it to a visa card. If shapeshift can facilitate that easier and has a lower fee than bittrex (which it should as bittrex is currently expensive) then I am interested.
With shapeshift you can convert coins to other coins (no fiat at the moment). They don't have any fees: "With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee." There is no exchange fee, or service fee.
https://info.shapeshift.io/about
Hope this helps.
Yeah it likely works similar to blocktrades.us which I successfully just test used instead of bittrex or poloniex and it worked.
My bitpay credit card (my fiat source) you click ADD funds and say $50 and it tells you how many bitcoin to send and the address and it charges the card.
So blocktrades and shapeshift may speed things up. The miner fee is what I'll need to find out about.
You can find out about miners fees in the link above in my previous message.
🍒 I saw the fees list and the Bitcoin Miner Fee is: 0.004 BTC, I think it's cheaper to stay on Bittrex right?
If the bitcoin miner fee is 0.004 BTC then yeah that is very expensive... that is almost $6 right now... bittrex is 0.001 which is $1.50 or more...
bittrex used to be 0.0002 and poloniex IS 0.0001 which is why a lot of us used it as that is only like a $0.15 fee, but 0.004 BTC fee is expensive...
Where was that? I won't be using anything that is that much I can spend a few minutes extra and use bittrex if I need to.
On the link that @alex13 gave you https://info.shapeshift.io/about just scroll down a little bit and you will see a blue list and that's it
Yeah that is super expensive. That's the highest fee I've seen. It is 4x higher than bittrex. It is 40x higher than Poloniex.
I checked changelly.com and that looks to be slightly lower than bittrex, about 8.5 times more than poloniex. Bittrex is 10x more than poloniex.
So fees so far cheapest to highest:
Poloniex -> Changelly.com -> Bittrex -> Shapeshift.io
No clue what blocktrades fees are and that bothers me.
That about lists the fee at 0.004 BTC. That is easily over $6 right now and is 40x more than poloniex charges and 4x more than bittrex. That's too high, I won't be using it. :(
I just recently published post about best options available to trade coins:
https://steemit.com/steemit/@alex13/shapeshift-vs-exchanges-best-options-to-buy-sell-exchange-your-coins
Basically it depends on the amount and specific pair of coins. In some cases Shapeshift provides better options.
Don't see Steem and Steem Dollars on the chart. I am not a trader. I just use them to convert some of my posting earnings to fiat. For that shapeshift seems very expensive. Like going to an ATM that charges me over $6 (as that is low) for a withdrawal.