Bitcoin Forum

Alternate cryptocurrencies => Altcoin Discussion => Topic started by: coinremitter on January 30, 2024, 08:50:59 AM



Title: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: coinremitter on January 30, 2024, 08:50:59 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: MFahad on January 30, 2024, 09:59:23 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Yes Low Transaction fee is an important feature we should see when choosing a crypto trading platform. but that should not be the only thing to look. as you said user interface, and security features are very crucial too.
one more thing that I like to see is how reputable and trusted that platform is. and also their KYC requirements.
As well as the token that I want to trade must be listed there too.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Natsuu on January 30, 2024, 11:41:35 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Yes Low Transaction fee is an important feature we should see when choosing a crypto trading platform. but that should not be the only thing to look. as you said user interface, and security features are very crucial too.
one more thing that I like to see is how reputable and trusted that platform is. and also their KYC requirements.
As well as the token that I want to trade must be listed there too.

Exactly. Low fees matter but don't forget the vibe of the platform, how secure it is, and if it's trustworthy. Also, check their KYC rules. Some platforms ask for a lot of personal info, and you should be comfortable with that


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Ever-young on January 30, 2024, 12:45:52 PM
I check out the security of the platform their reputation when it comes to withdraw, deposit and fund frozen this is the first place I look at before taking it to the level of checking how much volume the exchange also have and this is base on the coin I want to trade if the exchange could be able to cover that up and other factors which I check before using any crypto platform, and not to forget I always check their KYC process to see how serious they take it and how easy someone can pass it and not when I have deposited my crypto their I will experience difficulty of passing it.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: letteredhub on January 30, 2024, 01:35:59 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
Who wouldn't be interested in crypto platforms with low transaction fees? No one exactly. But when looking for a low transaction fees platform we should also priotize security and the reputation of the platform first before all else, don't just for low fees duck your coins into the wrong platform that can lead to a loss maybe due to scan or collapse of the system. After the two latter I talked about has been considered other things are just a plause factors based on user's need.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: irhact on January 30, 2024, 01:43:05 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Everything has to be considered before I'm going to use any cryptocurrency platforms. The security of the platform has to be considered so I don't use a platform that will get unauthorized access to my wallet private keys and hack my wallet to steal my coins. The interface of the platform has to be friendly. Many cryptocurrency platforms aren't friendly and it make it difficulty to use the platforms therefore I won't use a platform that isn't easy to understand.

I also won't use a platforms that have high fees and this is why I don't like using decentralized application created on ethereum blockchain as they're costly to operate unless you're using them on layer two blockchains. Using blockchain applications aren't supposed to be costly. They're supposed to be cheap, have good user interface and also good security features with other features that'll make using them great.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Tipstar on January 30, 2024, 02:15:25 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


All of the popular platforms are audited by different security firms and security wont be a big issue.
After that the key thing I look for is the availability of places to invest my money. And than comes transaction fees.
A new L2 network might have much cheaper fees than BSC but if they don't have enough dapps for me to interact, I might just abandon them in favor of something better.
I look to invest in projects that give me passive income, that's why most of my coin at the moment lies on TON which have options where I could get more than 100% APY for my staked coins. The second largest and the most in stablecoin lies in fantom where a dapp is providing no risk 50% APY for USDT and the third is solana which has a huge new opportunities to explore.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: BRINIRHA on January 30, 2024, 02:43:51 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

For me the most important thing is security. I would prioritize platforms that already have a good reputation and have earned more trust which is a sign that they can be safer than other competitors that don't have as much trust. After that I thought about low costs. And after that, the interface will appear comfortable and can be understood quickly and is also simple and not complicated.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Volimack on February 01, 2024, 09:54:58 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Security first if there is no security in the crypto platform then no one will risk to invest their wealth. I prioritize both security and low fees when choosing a crypto platform. Security is paramount for coin investing and low transaction fees is also an important factor. Due to lower transaction time costs lower transaction fees increase the demand.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Miles2006 on February 01, 2024, 10:23:55 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

In my opinion all what you listed should be considered before going for the platform, high transaction fees can be a little frustrating and at the same time if the platform lacks security and quality features you're actually playing with your money and the end result will be dramatic.
I will rather choose a platform well secured cause people who run away from high transaction fees and go for low quality we do hear their stories online and how their coin got stolen, in essence even if I'm running from high transaction fees I still make sure I go for the best with security, the two should work together and no one should be exempted.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: husencoe on February 01, 2024, 04:47:59 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


For me, security is the main thing.  Transaction fees are probably the second number of priority for me. High security ensure us in transactions.  With high security level will make us more confident in investing.  The next section is about the support provided.  The features provided must also be relevant to needs.  The user interface is also important, but it will be the last one.  I think lover of this field will give high taste in terms of interface.  and of course the most important thing is that the coin or token we want to transact is available on their service.  otherwise, why should we go there?


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Samlucky O on February 01, 2024, 05:09:25 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

To me what matters Is transaction fee and security. I think it's important that transaction fee should be low in any exchange to make it easier for transaction. Any investor would really love to use exchange that will reduce the cost of these transactions. Sometimes the transaction they will want to do, is a transaction of $10 and in this process if it's an exchange that charges high, it might take up to $4 fee so at this point the person who want to transact will look for a less cheaper exchange where they will charge for or $2 so from there they will discover the cheaper exchange.

Security is one of the factor people alway check before using exchange. Although there is no guarantee of a safe exchange because even binance of all people was once hacked so in security it is by luck. So people try as much as possible to find an exchange with good security history before exchanging crypto with them. But even as that, there Is no guarantee.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: snowpega on February 01, 2024, 05:25:20 PM
<Snip>

Yes dear it matter alot many exchange charge high fee and many low on the other hand it also matter which exchange is trsutworthy or not well if i share my own experience with i lost my amount by using Lbank exchange.actually one month ago i transferred my CRP amount to Lbank application but never received on Lbank application. I tried so many time to get back my amount by contacting Lbank team but i do not find any postive reponse from their team.

So dear along with fee many other things matter like i aforementioned trust worthy exchange or not, exchange interface, exchange fee, etc.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: lixer on February 01, 2024, 06:08:42 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
Low fees shouldn't be the only metric to look at when choosing a platform, but it should be one of the features that you look for when deciding because who doesn't like paying lower fees on their transactions? However, security and legitimacy must be prioritized features when choosing a platform because having security for your assets and not getting scammed is more important than paying lower fees.

I usually don't choose platforms based on their UI unless it's completely messed up and you can't do things properly or with ease. However, available features and options do make a difference because if you get a lot of features in a single platform, you wouldn't need to find different platforms for each thing.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Yogee on February 01, 2024, 08:24:43 PM
The hierarchy would look like this if I am to rank them,
1. Security - as it should be since we're talking about funds
2. Trade volume - exchanges can fake it but sites like Coingecko helps with this by giving them trust scores.
3. User interface - it's important that you don't deal with slow and buggy platforms
4. Fees - don't expect cheap fees when you look for the best services


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: wheelz1200 on February 01, 2024, 08:46:01 PM
That's one of the factors.  Liquidity is important but security is the biggest in my eyes.  How many issues over the years with securing customer funds we've seen scares me.  I'd pay a little more in fees knowing I'm using an exchange that is at least legit for some time and has a proven track record.  I'd rather lose a little than lose it all.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Y3shot on February 01, 2024, 09:08:57 PM
Low fee is not a guarantee that a coin is a good one for investment,  but for reputable coins in the market low key matters alot. High fee can make people not to have interest for a coin but High fee for transaction should not be a reason for one to  go for a coin that has no value in the market.  Even if bitcoin transaction fee is High I will still prefer to have bitcoin than any other coin even if the fee is low . The most important thing is how the reliable a coin is.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: xeqoRameshAxueamExaqana on February 01, 2024, 10:39:38 PM
if trading all of that doesn't matter. because when trading, just hold it on the exchanger and stake it while waiting for the coin price to rise so you can increase the number of coins so that the profit is maximized when the price rises later.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Adreman23 on February 02, 2024, 02:26:48 AM
When considering buying or selling crypto, i primarily focus on the reputation of the cryptocurrency platform. Its crucial to gauge its legitimacy and the level of trust it has garnered from users. Second, the trading volume plays a significant role for quick transactions. and third i assess whether i incur losses due to transaction fees.

I don't delve too much into the security aspect of a cryptocurrency platform since i don't leave my crypto with them for an extended period. For added safety, i prefer placing my crypto in a non custodial wallet, where i have control over my private keys, especially if i plan to hold onto them for a while.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Essential10 on February 02, 2024, 03:58:42 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Personally I don't think transaction fee is a big issue in choosing a crypto currency platform. Yes anyone would want, regardless of the platform they are transacting on so that the transaction fees are affordable. The most important thing for me is the safety aspects of the platforms. I will always prioritize security more, I have to choose a platform that has very good security measures such as two-factor authentication, encryption, and cold storage for customer funds. I consider security to be a top priority to avoid the possibility of my wallet being hacked or stolen.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: LogitechMouse on February 02, 2024, 04:34:19 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Transaction fees matter. Just look at Ethereum. A few years ago, the transaction fee of that coin is just way high for us average investors to afford, and because of that, there are many projects under Ethereum that are made, and their priority at that time is to have lower transaction fees. Polygon, Optimism, Arbitrum are just some of them.

Of course there are other factors that are important as well, but if you will use that platform, and will make some transactions on it then consider or maybe prioritize the transaction fees on it. Nobody wants to use a platform that can cause you $5-$6 every transaction right? 

What's good now is that, there are many tokens out there who has a low to very low transaction fees already, and as for Ethereum, well the fees are 10x higher than that of other smart contract platforms out there but surprisingly, there are many who are still using it for various reasons.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: john1010 on February 02, 2024, 04:39:50 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


Choosing a cryptocurrency platform can be a challenging and personal decision, as there are many factors to consider and trade-offs to make. Here is my perspective on this question:

I think that transaction fees are an important factor, but not the only one, when choosing a cryptocurrency platform. Transaction fees are the costs that you pay to use a platform to buy, sell, or trade cryptocurrencies. They can vary depending on the platform, the currency, the volume, and the type of transaction. Transaction fees can affect your profitability and your user experience, so it’s good to compare different platforms and find the ones that offer the best value for your needs.

However, I also think that other factors, such as security, user interface, or available features, are equally or more important than transaction fees. Security is the most crucial factor, as you want to ensure that your funds and data are safe and protected from hackers, scammers, or other threats. You want to choose a platform that has a good reputation, a strong encryption, a reliable customer support, and a clear regulatory compliance. User interface is another important factor, as you want to choose a platform that is easy to use, navigate, and understand. You want to choose a platform that has a user-friendly design, a responsive performance, and a helpful feedback. Available features are also important, as you want to choose a platform that offers the features and options that suit your preferences and goals. You want to choose a platform that supports the currencies and tokens that you want to trade, the payment methods that you want to use, the trading tools and strategies that you want to apply, and the additional services and benefits that you want to enjoy.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: justdimin on February 02, 2024, 06:34:31 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
In my opinion all what you listed should be considered before going for the platform, high transaction fees can be a little frustrating and at the same time if the platform lacks security and quality features you're actually playing with your money and the end result will be dramatic.
I will rather choose a platform well secured cause people who run away from high transaction fees and go for low quality we do hear their stories online and how their coin got stolen, in essence even if I'm running from high transaction fees I still make sure I go for the best with security, the two should work together and no one should be exempted.
I do agree that every single detail matters, we end up picking things that are good based on everything, not just one thing. If we know how good one place can be, we end up making decisions that would give us some benefit. This means that we need to make sure that we are dealing with something that would be profitable if we know what we are doing.

I agree that life is not simple and things will matter eventually, but at the same time when we pick a platform, we do not care about these one by one, we take a look at the whole package. Like when someone picks binance, they do not look at every single detail, they just look at it as a whole and see a big place that everyone uses and they just pick it, that's how simple it can be.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: MIner1448 on February 02, 2024, 08:42:44 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Before you create a cryptocurrency platform, you should learn about different factors, a Not a big commission for the transaction. This is the security of the new cryptocurrency Every step of the way should check all aspects of security, including the support A client can use the platform.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: jrrsparkles on February 02, 2024, 09:11:50 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Low fee is one of the factor but it's not in the top of the priority if I am going to choose a new project because almost every project has their own blockchain will have negligible fees or if it's token then it depends on which blockchain they choose to run their projects.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: AnonBitCoiner on February 02, 2024, 04:40:40 PM
Lower transaction fees is a good option to check out before entering into the project but there are also some other things which should not be avoided like security, kyc system and see the success of that project because it is not necessary that if transaction fees is low then it will give you more profit but profit depends on the success of a project.

Check out the details of the project because if you don't know about the details you cannot make a decision that is it better to choose or not. Selection of profitable projects matters a lot because everyone wants low transaction fees but no one is ready to check out the details present on the website of the project so try to realize the whole information of the project instead of keeping eye only on transaction fees.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: bolshojkush on February 02, 2024, 06:56:12 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Transaction fees matter. Just look at Ethereum. A few years ago, the transaction fee of that coin is just way high for us average investors to afford, and because of that, there are many projects under Ethereum that are made, and their priority at that time is to have lower transaction fees. Polygon, Optimism, Arbitrum are just some of them.

Of course there are other factors that are important as well, but if you will use that platform, and will make some transactions on it then consider or maybe prioritize the transaction fees on it. Nobody wants to use a platform that can cause you $5-$6 every transaction right? 

What's good now is that, there are many tokens out there who has a low to very low transaction fees already, and as for Ethereum, well the fees are 10x higher than that of other smart contract platforms out there but surprisingly, there are many who are still using it for various reasons.

I absolutely agree with the opinion. I practically do not use Ethereum, I transferred all ERC-20 tokens to the BSC network, since the commissions in it are small, and ethereum has cosmic ones. Ethereum transactions also take much longer than many other networks.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: batang_bitcoin on February 02, 2024, 07:56:26 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
Every possible factor of what you can use as a basis for your decision to invest or not into a project is important. As for many of them includes community, fees, technology, transparency and all of those basic basis that you OP and the others have mentioned. Tenure for me is important and that's why I am investing to the proven projects that have been into thick and thin, through many ugly scenarios in the market especially the bear markets.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Wiwo on February 02, 2024, 08:02:38 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

To any normal coin user,  low fees are truly a motivation to use the platforms,  but let's not forget that,  there may be some factors that may force a coin to slide into low fees some of which is adoption because the network will always be free if there are no high demands on the coin,  or if the platform lack traffic,  so in some instances, you have a low fee but with dumped price,  this has a lot to do with what becomes the reality of your investment in such coins.

Anyways high fees or network congestion also have it own disadvantages just like what we are facing in the bitcoin network congestion and high fees, so the thing is visual but we anticipates for better future.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: o48o on February 02, 2024, 09:45:09 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
I don't understand why only one thing would matter to anyone. Why would anyone care only about the fees? If gui is garbage, there's no security and lack of features. Then who cares what the fees are?

But it's not like fees doesn't matter, or that low fees are poor vs rich issue. Even if rich people wouldn't care about fees and platforms want to attract rich people, it's the common people casinos want to keep happy. As those are advertising the platform and giving ref links. I don't think that rich people care about ref links too much, or getting more people in.

And no matter if you are rich or poor, everyone want feature rich, secure, responsive and trusted site.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Wexnident on February 03, 2024, 06:27:27 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
I personally choose lower transaction fees, security, and coins listed. There might be other things that come to mind when I pick but those are the ones I'm aware of on the top of my head. Ofc a certain standard is needed for the rest of the standards I left out but the priority would be the ones I stated. There's also a preference for anonymity hence why some people choose to use DEX instead of CEX.

Honestly these "considerations" come up to your own situation. I mean rich people probably wouldn't mind higher fees but for those who go with a strict budget, the lower the fees, the better no? Well, that's just with fees, and anonymity  (from the top of my head) The rest? They just need to reach a ceratin standard, just like any other business/service out there.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: GreenStox on February 03, 2024, 08:47:22 AM
Most people, including me :), will look for a platform that provides low fees.
for example, if there is a transaction using ETH gas, I will definitely see whether it can be done by l2 or l1, because layer2 fees are cheaper than layer1, and withdrawing eth l1 from the exchange is expensive, you can exchange it on an exchange bridge, but usually there is a minimum transaction


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: huu78 on February 03, 2024, 09:04:37 AM
I think cheaper fees will make more users interested, then other factors such as transaction speed, security, lots of users, and an attractive ecosystem, become other driving factors.
Even though not all current projects have everything, they have advantages that other projects don't have.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Hypnosis00 on February 03, 2024, 12:42:41 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Fees are one thing to consider in choosing a platform but what matters the most is the legitimacy of the site as we can't just ignore the fact that many scam sites appear and are also competing with others. Indeed, we need to have fund security though we can't assure 100% safety at least, we have the confidence that our funds stay there. But if necessary, we have to move our funds right away after the transaction is completed to gain maximum security which the wallet is in our control.

Choose the platform that we usually use, refrain from trying new unless we are sure that it can be trusted and active. And never use any exchange wallet as our storage wallet.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: btc78 on February 03, 2024, 01:13:16 PM
Low transaction fees is something that is beneficial for most users however it is not at the top of my priority list

I believe that security, interface and inclusivity are the most important things to look out for when picking crypto platforms of course if the fees are quite high but the services is top-notch and high quality then it might be understandable and of course a platform that is easy to use would gain points for that and lastly checking which coins they do and do not have will help me make a decision


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Sophokles on February 03, 2024, 02:11:44 PM
It depends on what you are trying to do, because if you need to do frequent interactions with the dapps which will cost gas fees, then low cost is the key to mass adoption of that project. A good example can be gamefi and DeFi. Both of the categories require frequent interaction with the dapps so cost-efficient methods will be highly demanded; otherwise, they will be only used by whales and not retail investors. Decentralization and scalability are also factors that are highly considered when choosing a blockchain.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Tmoonz on February 27, 2024, 01:59:57 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


For me low fee is important considering the significant of values in the crypto space but that shouldn't be the top priority, ensuring the safety of your transactions should also be considered, because a scammed or unsuccessful transaction can be frustrating.

But to be honest at some point low fee is one reason why most user adopt certain platforms.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: JeffBrad12 on February 27, 2024, 02:11:08 PM
it matters a lot when the fee become so high like ethereum it actually become a concern because just like with ethereum as you see, the fee sometime reached something so ridiculous, imagine just suppling for LP charges you $80 for a transaction, even approving token already charge money its crazy over here with ethereum.
if the fee is still $1 and below thats still understandable and im sure most of the people aren't even sweating to choose their blockchain but ethereum, its just give us that feeling to find a way to avoid consuming that much of a fee for just a transaction and try to find alternative.
good thing that L2 become a thing right now basically a blockchain thats also secured by depending on ethereum.
i think the psychological silver lining where its become a concern is when the fee surpass $1 as i've stated, and even less for people that don't transfer that much, the thing with ethereum doesn't matter if youi transfer 1 million or $1 the fee still the same.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: tsaroz on February 27, 2024, 02:22:34 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


Transaction fees is surely a great deal specially when you are often using defis. The success of BNB chain is due to the high fees on Ethereum chain. I personally tired to switch to polygon from bsc just to save on fees but fee again is not everything. Availability of of the token you want and staking reward for coin or LP is also a great deal while considering a platform. As to why polygon being cheaper than BSC but not as successful is due to its slow adoption that gives lesser options for the users. And the reason why solana is hit is due to its quick transaction speed and low fees as well at high adoption rate.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: mu_enrico on February 27, 2024, 02:29:39 PM
I think it depends on what you will do with the coins, is it for speculation or do you use it for transactions? If you use it, then low fee, fast tx, and high acceptability (high volume) are the number one priority. These three factors are equally important IMO, for instance, let's say coin xyz has a low fee and fast tx, but it traded nowhere, and no USDT on top of it. Coin xyz then is a garbage coin regardless of how fast and cheap the tx is.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: cute nmp on February 27, 2024, 03:36:08 PM
I usually choose the ones that have a very low transactions fees then security which also matters a lot. Hate to trade on exchanges with high fees don't know why users should be charged that much honestly.Also can't say of other people but I think most people hate high fees.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: kentrolla on February 27, 2024, 03:52:23 PM
The answer is very simple as it lies with the current market capitalisation as BTC is more expensive to transfer as the fees are higher and it can be crazy at time but why do you think people still prefer Bitcoin over there Altcoins which has almost to zero fees? It's because fee is just one of the factor but we invest based on what the coin has to offer like security and all. Fees don't play major role but an add on.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Zaguru12 on February 27, 2024, 04:03:23 PM
The answer is very simple as it lies with the current market capitalisation as BTC is more expensive to transfer as the fees are higher and it can be crazy at time but why do you think people still prefer Bitcoin over there Altcoins which has almost to zero fees? It's because fee is just one of the factor but we invest based on what the coin has to offer like security and all. Fees don't play major role but an add on.

You have not read well what OP was asking of, OP was on about platforms like exchanges or service like not the coins it self. What I see that confuses you is the word fees which most people tag as charges. Exchange charges actually matter sometimes when picking the one to trade on. There are exchanges that charges more than others although most of which I don’t see much difference in them except decentralized ones that I think charges a little more. One thing I figured out from this exchange charges is that those with large users or say liquidity are the ones that charge less than the others and they also offer better security except on some occasions like privacy issues which are associated with centralized exchanges


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: livingfree on February 27, 2024, 07:51:29 PM
Honestly, I don't look into it because I know that the popular ones aren't that expensive at all and if they change their terms and make it higher, many from its community will definitely going to complain.

While I do have my concern with these low fees. But most of them doesn't really have that like the maker and takers fee and as well as the withdrawal fees.

That's why I don't really look into it because I know that all of them are also competing with it and just close to each other.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Belarge on February 27, 2024, 09:09:32 PM
The answer is very simple as it lies with the current market capitalisation as BTC is more expensive to transfer as the fees are higher and it can be crazy at time but why do you think people still prefer Bitcoin over there Altcoins which has almost to zero fees? It's because fee is just one of the factor but we invest based on what the coin has to offer like security and all. Fees don't play major role but an add on.
Roles are important, don't jeopardize any chances of becoming profitable in the system, though they do come with tasks. Altcoins are different, they're more like shitcoins in the market, we invest in these projects for the purpose to milked the system, some of them pump while some go into heavy dip. However we gives respect to BTC keeps the domination and leads when it involves projects. Don't bother oneself when it involves crypto fees because not all these projects comes with easy task, rather we're the ones that battle to extend our lengthy existence.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Natalim on February 27, 2024, 09:33:21 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Not at all, as it was very important to consider their reputation first before anything. Yes, it is the security of our funds that matters the most, or else, we are taking a high risk and the possibility of losing our funds right after the deposit. That is why it is necessary to conduct research first before making any transactions. Perhaps, it was highly recommended to use only reputable and known exchange platforms rather than trying new ones to avoid scams. Taking extra caution saves us from losing our money and we should not neglect doing this all the time knowing that there are a lot of fake/scam platforms online.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Abu-Naim on February 27, 2024, 09:39:27 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Network fee is very important to be considered when choosing any platform for your cryptocurrency transactions.
The chain the platform is operating matters a lot because we have BSC, Eth, Cardano, Solana, and others; these platforms have different transaction fee, therefore, you have the chance to make some decisions and changes in order to have smooth transaction.
Exchanges almost have similar fee, Although some exchanges are cheap, therefore, the network or transaction fee is the main reason why some people make some research’s before choosing the exchange that will favor them in terms of transaction fee.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Mate2237 on February 27, 2024, 10:31:27 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Low transaction fee is also one of the priority but the major one I always consider is the price rate and not the transaction fee. There are some exchanges that buy someone bitcoin with very low rate and while so.e are very high rate. Because what humans need in exchange is the one with the highest price and not with lowest price in selling. Low transaction fee is one of the factors as I Said. But people use highest pay exchange and the lower ones. But if you follow profit in the stable coins line, be prepared to be bankruptcy though it is not a prayer but it is likely happens there.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Joseph-P on February 28, 2024, 02:49:17 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

For me, it's more than just security. User-interface and features are also necessary, but more than that, I look at the public opinions directed towards the platform. For instance, I only recently started using bitget because I heard a lot of people discuss some of its recent team development and crazy token price growth over the past few months. I have thebfirm belief that hatever a platform or company is doing will be revealed in the public opinions that they attract from everyday users.
PS: if you're one interest in hearing other people's opinions on certain cryptocurrencies or crypto platforms, X is a great place to start looking.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Bureau on February 28, 2024, 03:24:14 AM
I prefer using a trusted and reputed platform than going after low fee. The second factor is to check whether in the past the platform suffered security issues. The last factor for me is to check whether the platform has good volume. Transaction fees is something that doesn't matter when anyone is trading with big amount and there are ways in getting low fees. Transaction fees should be the last ting in the mind of a trader.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: bitzizzix on February 28, 2024, 03:51:42 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Choosing the right platform is very important, especially in terms of trading costs and withdrawals are also important factors that need to be considered, and apart from that we also have to look for a platform that is trusted, especially in terms of security features and also has a good reputation. However, in-depth research must still be carried out so that we get a platform that suits our needs.
And I think Binance is still a popular choice, with its user-friendly interface and easy withdrawal options and low withdrawal fees. Additionally, Bidget is also reliable and has one of the most competitive low transaction fees.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Webetcoins on February 28, 2024, 07:12:23 PM
I would say that it has "some" situation and that has to be something that will take some time and we could end up with a much better solution in the end. We could definitely see the situation getting different and we should consider getting better eventually. We need to consider fee's to be important but also not the only thing that matters at all because there are other stuff that would mean it could be very different situation without a doubt.

I think we should consider the situation to be a bit different, and that has to be the most important thing, like branding is important to create some trust and that has to be the most valuable thing over fee's and we can definitely do a lot more important and get a greater result.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: adpinbr on February 29, 2024, 01:08:00 PM
Low fees does not really matters, though I have not really gotten the clear picture of what you want to do and why you are seeking for a transaction or coin that has a low fee transaction rate I can say that it does not really matter all depends on what you want to do with the coin and the trend of the coin at the point.
using it as a middle of payment or to buy commodity.
Meanwhile, some other is for Trading, so after Trading, the fees does not really matter to them because they have made more than but it can really be Matter for someone that is just using it for transaction, yes no really matters because it will really affect imagine you paying $15 as fees or $20 fees for a transaction of $100 by transaction of $500 below. I can see that this depend on what you want to do with the cryptocurrency.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: niall51 on March 01, 2024, 03:41:43 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


My personal perspective is that low fees are very important because I personally sometimes want to send one of the tokens but the fee is high. I will wait for the fee to be low first before sending the token. Maybe people are different and there are those who prioritize security rather than low fees, but one of the complaints is that there are many. in the crypto community, the fees are too expensive


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Sayeds56 on March 01, 2024, 04:09:49 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


It depends on your preference and needs, however is my view lower transaction fees does matter a lot, specially  for frequent traders, low fees platform offer cost effective solutions when volume of trades is on higher side.. However, there are also other factors such as security of platform is of paramount importance due to numerous incidence of security breaches, particularly on Decentralized Finance (DEFI). Additionally, a User friendly platform interface and easy to use is also crucial for new comers to navigate seamlessly.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: deathcode on March 01, 2024, 04:35:19 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

are you guys developing a crypto platform? is it like an exchange or a wallet? or regarding business platforms that accept crypto?
When it comes to crypto you certainly have to consider the security of the platform. because it will be related to the funds of your platform users.
Cheap transaction fees are also an important part. But also pay attention to how you provide friendly support and resolve problems quickly.
The interface is also important because it builds an impression on the users of your platform.
Actually, you know what a crypto platform must have.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Mpamaegbu on April 29, 2024, 09:20:27 PM
I prioritize the safety of my funds over transaction fees while choosing exchanges. Safety first for me and that's why I will never subscribe to any exchange with a trust score less than 8/10. I can't risk my capital over minimal difference in fees. Most of those scam exchanges might even deliberately reduce transaction fees so as to get in more people to their platforms to scam at the end.

However, if I'm choosing coins/tokens to buy I look at the chain they're on. I do this to have an idea what swapping or withdrawal fees will be like when I'm selling off. This is why I always avoid Ethereum based projects. Fees are scary on them.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: peter0425 on April 30, 2024, 03:33:36 AM
However, if I'm choosing coins/tokens to buy I look at the chain they're on. I do this to have an idea what swapping or withdrawal fees will be like when I'm selling off. This is why I always avoid Ethereum based projects. Fees are scary on them.

While one of the factors to consider is the cost of any kind of fees, I think it really depends on how much you are making transactions and whether it’s worth it. I mean I wouldn’t want to risk having little to no security for inexpensive fees.

Although if I find a crypto platform both with cheap fees and functions well with an adequate or maybe even much impressive security then that would be best.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: JeffBrad12 on April 30, 2024, 07:44:46 AM
fee matters when it gets too unbearable, for example you want to trade perpetual using DEX, you definitely won't want to use ethereum for that since each trades gonna costs you an arm and leg.
that is exactly why the L2 exists, to give alternative but sometime the project that are good usually deploy token in the ethereum so we can't really choose what blockchain we gonna use for most of the time.
being a person that tries to find opportunity through various dapps and so on what you can do is that you must be a flexible person using whatever blockchain available by also judging whether it gonna benefits you or not.
for example claiming token in ethereum blockchain, if the token worth more than the fee itself maybe multiple folds then its gonna be fine, i will definitely try to claim that token, its only problematic if the fee far outweight the worth of the tokens.
i'm sure most of crypto users doesn't really care about what blockchain they use anyway as long as its fast and functional people are already happy.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Freddie Boyer on May 15, 2024, 01:33:58 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Of course. We must first examine the cost component, whether it is taker and maker costs, then if we want WD how much the estimated cost will be cut. If the platform provides cheap services in terms of transaction fees on the exchange I think many users will come and register on the exchange, especially if the exchange is NO KYC and only uses 2FA because of the requirements to get WD.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Kelward on May 15, 2024, 01:47:25 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

For me the most important thing is security. I would prioritize platforms that already have a good reputation and have earned more trust which is a sign that they can be safer than other competitors that don't have as much trust. After that I thought about low costs. And after that, the interface will appear comfortable and can be understood quickly and is also simple and not complicated.
Low fees is important in choosing a crypto platform, but security should be given more priority, people should first of all look out for a platform that has built reputation and is very trustworthy, because what is the essence of low fees when you're not sure of the reputation of your intending crypto platform. The interface is also important after making sure of the reliability of the platform, so that there'll be clear understanding of how the platform operates.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Strongkored on May 16, 2024, 04:54:09 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Trusted platforms usually have everything their users need except low fees, because after all low fees will also depend on network conditions, but if there is a platform that can provide everything it will definitely be the choice of many crypto users, and actually fees also play a role for developers need to develop their platforms, by charging reasonable fees they will have the funds to continue to develop the platform to become better, but by forcing low fees it may affect development including security.
If I have to choose, security should be the main thing and low fees should be the second choice, while the interface and other features are not too important things to consider when choosing a crypto platform.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: hamba laeh on May 27, 2024, 04:14:39 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


In my opinion, the most important thing in choosing a crypto platform is high and strong security because this is about protecting the assets we own. Rather than just looking at the cheap transaction costs but low security, it is very risky. So to choose a crypto platform is primarily security and then followed by other factors, such as the user interface, or available features.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Kocret02 on May 27, 2024, 04:40:36 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!


We really need low transaction fees, but in my opinion that is not the most important thing in using a crypto platform. In my opinion, the most important thing is the security of the platform because without good security it will make us uncomfortable when making transactions. and next we have to pay attention to the reputation of the platform because reputation is also very important in a crypto platform.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: bastian466 on May 27, 2024, 05:33:54 PM
Tight security and low transaction fees are what many people are looking for and comparing, but I prefer a platform that provides direct exchange of fiat money from my own country, this makes my transactions easier so I don't have to move around which results in lots of transactions


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Fiasem20 on May 27, 2024, 06:58:33 PM
The features I would consider while choosing a cryptocurrency platform.
1.The security,that is all that matters because if the platform isn't secured the users would lose their coin,many users have lost their coins in exchanges because they chose a platform that wasn't secured.
2.KYC requirements,it is from the KYC requirements I get to dictate if the platform is solid to trade my coin.
3.The low transaction fee is also what I consider in a platform.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Jegileman on May 27, 2024, 07:22:02 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

High transaction fees has being considered as one of the most concerned factors that is limiting the more success of using cryptocurrency most especially bitcoin. Depending on the cryptocurrency you want to venture into, they all have their own transaction fees which you need to look into before venturing into them. If you do that later, you might regret why didn’t do earlier because it’s now one of the determining factors of choosing the best cryptocurrency in the market. What you can also look into, is the team behind it, the security built to protect the project and many other things. One of the criteria I also look into is the blockchain those projects are being lunched on and their vulnerability to external attacks.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: peter0425 on May 28, 2024, 03:32:03 AM
High transaction fees has being considered as one of the most concerned factors that is limiting the more success of using cryptocurrency most especially bitcoin. Depending on the cryptocurrency you want to venture into, they all have their own transaction fees which you need to look into before venturing into them.
The transaction fees usually depend on how congested its mempool. The more transaction a coin is having then we can expect higher transaction fees. Although exchanges usually add in their own fees aside from the fees required to push a transaction out.
Quote
One of the criteria I also look into is the blockchain those projects are being lunched on and their vulnerability to external attacks.
The problem here is that most exchanges need money to ensure safety and security as they can dedicate more of developing their softwares. In order to do that they are going to need to ask for more fees.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: Godday on May 28, 2024, 07:41:48 AM
Tight security and low transaction fees are what many people are looking for and comparing, but I prefer a platform that provides direct exchange of fiat money from my own country, this makes my transactions easier so I don't have to move around which results in lots of transactions

I agree with you. I don't care what it costs as long as it's reasonable. But if this is a crypto trading platform so far I prefer one that can make withdrawals directly into my country's currency. I don't like KYC because I only do a few small transactions but I haven't found a non kyc trading platform that provides good performance.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: woez on May 28, 2024, 08:33:01 AM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Indeed, the fee amount for each exchange is different, the most important thing is that the exchange is included in the safe list and does not cause problems for our livelihoods.

Personally, I see that as long as the WD process is smooth and not complicated and the transaction is successful, that's what I prefer to choose. If KYC is difficult, the choice is to look for something easy.




Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: bastian466 on May 28, 2024, 05:16:00 PM
Tight security and low transaction fees are what many people are looking for and comparing, but I prefer a platform that provides direct exchange of fiat money from my own country, this makes my transactions easier so I don't have to move around which results in lots of transactions

I agree with you. I don't care what it costs as long as it's reasonable. But if this is a crypto trading platform so far I prefer one that can make withdrawals directly into my country's currency. I don't like KYC because I only do a few small transactions but I haven't found a non kyc trading platform that provides good performance.
I also haven't found a platform that doesn't require KYC to be able to carry out transactions on it, but in my opinion, I don't mind carrying out KYC measures because it is a security requirement. as long as our data is stored safely it is not used for criminal acts and so far I have not heard of any misuse of personal data


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: DiMarxist on May 28, 2024, 06:43:40 PM
There are lot of factors to consider before investing or participating in any cryptocurrency project, and add it to the ones you have mentioned, the transaction fee is very much important then the speed of the network. Then the interface of the project wallet. There are some altcoins wallet that have more one wallet addresses and example of such which I know, trustwallet, BNB, Ethereum, Solana etc. It is not good for a cryptocurrency project to share wallet with another project and that defeated the decentralization of the project.
So I prefer crypto project that operate alone and not projects that share wallet address.with others.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: sunsilk on May 28, 2024, 07:30:18 PM
Why not all of those good factors are needed when we're choosing an exchange or any kind of crypto platform that includes are money? Except the investing platforms because there is a misconception about it.

There are scams that play around with that title about being called an "investment platform" by their own scammers.

So, going back to the genuine one. It's about low fees, with security, huge volume, etc. and all of those things that we all need as users.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: ndutndut on May 28, 2024, 07:59:14 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

Personally, when choosing an exchange, it is not about low fees because low fees are the last thing, the most important thing is the security of the platform. It's true, fees are another factor to consider in choosing an exchange to trade on, but fees are usually high and many popular exchanges charge higher fees, but the sacrifice is worth it in terms of insurance and security of the assets we own. Because the platform will make it easy to deposit and withdraw digital currency in fiat currency, as well as trade many assets in it.

Moreover, we choose an exchange not only for trading but also for storing assets for a long period of time, or even for storing them for a short period of time, so the priority in choosing an exchange must be the security of the exchange. It is true that it is best not to store assets on an exchange, because no matter how strong the security is, our assets are not under our control, but choosing an exchange with strong security is also very important so that we can trade safely without worry.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: lalabotax on May 28, 2024, 08:55:06 PM
When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!

For me? Yes.
Fees are one of the things that I really need to consider when choosing a cryptocurrency exchange platform. because of course we will use that platform, right, for transactions? So, for example, if the transaction fee is quite high, we will definitely feel that it is difficult. especially if you do it multiple times. Because how do we have to pay a fee both for taking the money and making the payment, as well as paying the fee when transferring the crypto. Well, the problem is if it's too high then it will affect our profits or payments, right?

However, this is only one thing, because currently, there are many exchanges whose fees are quite competitive and almost the same. Furthermore, of course there are other factors, such as reputation and market cap/trading volume, which must also be taken into consideration. Because in all areas, security is also very important for consideration.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: bitgolden on May 29, 2024, 06:29:53 AM
Trust is definitely the most important factor, not that fee's are that high, but I rather pay a lot of money just to be make sure that I am using a trusted place. Many of the new places are trying to keep their fee structure low until they get enough people, even Binance did that, the first year they were active they had a huge affiliate income (literally at 50% of the fee) and we are seeing that they changed both the trading fee, and the affiliate income after they became trusted.

This means that not every new place will be fine, but some will be fine and you can take advantage of that if you want. I do not like that, I prefer to use Binance, because I trust it and I am not going to change that unless Binance goes bankrupt.


Title: Re: Do low fees matter most in choosing crypto platforms, or other factors?
Post by: strunberg on May 29, 2024, 10:44:35 AM
This means that not every new place will be fine, but some will be fine and you can take advantage of that if you want. I do not like that, I prefer to use Binance, because I trust it and I am not going to change that unless Binance goes bankrupt.

I agree with you. Trading fees are not that expensive if it is an exchange I trust. I have transactions of around hundreds or thousands of dollars per month and fees on the exchange are usually only around 0.1 - 0.5 dollars. Even a 1 dollar fee is not that expensive in my opinion. I once lost hundreds of dollars on the Bitforex exchange and if I used the money I lost in fees there would be hundreds of transactions I could make.