Avoiding High Deposit Fee from Bitfinex

in #highdepositfee7 years ago (edited)

Some of us may have been informed about this, bitfinex is charging deposit fee (for deposit below the worth of 1000 USD ) since about last week if I'm not mistaken.

Deposit Fee bitfinex.PNG

In the old days before the deposit fee was applied, in order to buy altcoins like IOTA, streamr data or other cryptos which are only available in bitfinex, people used to bought bitcoin or ethereum from somewhere else and deposit it to bitfinex and then they changed to other cryptos with that BTC / ETH in bitfinex.

but now as we can see the deposit fee for ETH (below 1000 USD worth) is 0.01 ETH.
and the deposit fee for BTC is 0.0005 BTC

1 ETH costs about 700 USD (When I was writing this post) .. so you will get charged for about 7 USD
and 1 BTC costs about 16000 so you will get charged for about 8 USD
This is crazy ... with that 7 or 8 USD we can get some cheap altcoins!

But WAIT, there are many solutions and here is one of them!!

Ripple deposit fee in bitfinex, it is 0.02 XRP

1 ripple cost about 40cent (when I was writing this) so the deposit cost is very very low... almost nothing.

This can be a new alternative to buy altcoins in bitfinex. (Buy XRP from other exchange, deposit to bitfinex... sell to usd and buy any coins you want)

In my own experience, I live in EU, so I bought from Litebit.eu (easy SEPA transfer with my bank account). I bought XRP from there and move it to bitfinex.. sell to USD and buy altcoins with USD.

If you guys also have great alternatives, please share it with us too!
Cheers!

source: https://www.bitfinex.com/fees

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Wow Didn't know there was a deposit fee https://9blz.com/bitfinex-review/

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