Title: Best way to transfer funds between exchanges? Post by: poornamelessme on March 05, 2014, 08:59:16 PM I am still somewhat new to this, so am curious what most people here recommend when transferring funds between exchanges? I am talking about small amounts, so moving .05 bitcoins or so doesn't make sense due to fees.
What I have been doing is just using something that sells for around the same between exchanges (stuff like doge or sometimes mint), buying that at one exchange, moving it over, then selling for bitcoin again. Of course, depending on prices, there may be a bit of loss when doing it that way. Is there a better way, or a preferred coin for doing swaps like that? Title: Re: Best way to transfer funds between exchanges? Post by: warlogna on March 05, 2014, 09:06:57 PM Fees tend to be 1% or less. So the amount shouldn't matter at all
Title: Re: Best way to transfer funds between exchanges? Post by: poornamelessme on March 05, 2014, 09:13:19 PM Well, depending on the exchange, with small amounts of bitcoin, the fees or min. can be greater than what you are transferring... so it needs to be something else used. It tends to occur with the dinky exchanges more than the bigger ones.
Title: Re: Best way to transfer funds between exchanges? Post by: PyroClasTix on March 05, 2014, 09:16:45 PM I am still somewhat new to this, so am curious what most people here recommend when transferring funds between exchanges? I am talking about small amounts, so moving .05 bitcoins or so doesn't make sense due to fees. I usually don't worry about swapping coins around exchanges too much because fees will end up killing you.What I have been doing is just using something that sells for around the same between exchanges (stuff like doge or sometimes mint), buying that at one exchange, moving it over, then selling for bitcoin again. Of course, depending on prices, there may be a bit of loss when doing it that way. Is there a better way, or a preferred coin for doing swaps like that? Fees tend to be 1% or less. So the amount shouldn't matter at all Not always the case. There are places where there are solid .001 or .0001 withdraws. |