Bitcoin Forum

Hello guys, I am trying to buy a copper membership using Binance. I copied and pasted the address but it selected Solana as the default network.
Am I doing it right? Thanks in advance for your replies..

99.9% sure that you're not doing it right.
The copper membership page (https://bitcointalk.org/index.php?action=credit;promote) tells about Bitcoin, so you have to transfer Bitcoin, on the Bitcoin blockchain. That means on Binance either Bitcoin, either the newer Bitcoin SegWit.
Keep in mind that withdrawal for Binance brings withdrawal fees and it's not a good business to withdraw such small amounts.

Optimal would have been to have your own proper wallet...

Probably OP will spend almost the same or more in withdrawal fees than what is required to send in it's copper membership. As far as i can remember binance has 0.0005 btc for withdrawal fees, now it requires to send 0.00063880 BTC for copper membership. So, yes, if op has lots of balance to spend then just let him/

I see. what exchange do you recommend then? Kraken is better right? Thanks

Kraken is much better. They don't try to scam you into accepting their own made-up tokens which they present as being the real Bitcoin (like Binance does). And Kraken only charges 0.00002 BTC (https://support.kraken.com/hc/en-us/articles/360000767986-Cryptocurrency-withdrawal-fees-and-minimums) withdrawal fee (while Binance charges 25 times more).

If this is true, that's a new low. Even for Binance.

cool! thanks LoyceV will def try that out

Are you sure you saw Solana and not BNB for example? There is no Bitcoin token on Solana's blockchain as far as I know. I am looking at the withdrawal fees on Binance (https://www.binance.com/en/fee/cryptoFee), and such a network and token isn't displayed there either. There are only BEP2, BEP20, and ERC20 tokens of BTC. Man, this sounds stupid even writing and thinking about it. Bitcoin tokens. ::) 

It was highlighted when I pasted there haha! that's why I know something is off. and Thanks so much for giving me a heads up about the withdrawal fees. I heavily use ETH, USDT, BNB .. soo LOL.  ;D

Why don't you use your own non-custodial wallet and send coins directly instead of using Binance or other centralized exchanges?
This way you will probably pay less fees and you will have more control over your coins.

If you want to save on fees from exchanges than try using FTX, I think they are not charging any fees for withdrawing Bitcoin (on mainnet).

I was also thinking that's the best way to pay for the membership from your own wallets but maybe he is more comfortable using the exchange directly to pay for it along with the fees if he use Binance or Kraken.

Bitcoin withdrawls less than 0.01BTC are free and amount exceeding them is chargeable which you can check below:


FTX withdrawal  (https://help.ftx.com/hc/en-us/articles/360034865571-Blockchain-Deposits-and-Withdrawals)

However if you have staked FTT on their platform then you can also get some free fees waiver per day on ERC-20 tokens which you can check on their help page.

Judging by your own quote, it's the exact opposite: large withdrawals are free, small withdrawals are only free once a day.

YAY! Thank you so much for helping me out.  ;)

Thanks for pointing it out as there was error in writing up and there was misstatement but now it has been edited according to what is written in quote.

This is place where you can clear your doubts with full clarification and get help from experienced memeber in right direction.Hope you can buy it now without any worries.

It's still incorrect:
> : larger than
< : smaller than

So the quote (https://help.ftx.com/hc/en-us/articles/360034865571-Blockchain-Deposits-and-Withdrawals) is:

Congrats :) I'll stop going off-topic now. You may want to lock (bottom-left) this topic.

Thank you again. I appreciate all the help.  :D