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Heating.
Not much effective but could be useful if you face issues with humidity in your basement and similar situations.
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Expensive.
But given the facts it's sold out everywhere, rumors about bitmain issues with chip deliveries (which could lead to reduced production, delay new gen. miner ... ) I'm pretty sure it's going to be sold.
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I believe campaign managers will be the best to answer this question, I will like campaign managers to give some valid reasons they are not yet using lightning network for paying, also people can comment about any suggested reasons they are thinking to be the reason.
I felt the need today. I am managing a campaign where I was suppose to pay 50+ users in bitcoin. Total amount was something like 0.004 BTC and Electrum was suggesting me a fee of 0.00435457 BTC Fees for broadcasting 0.00435457 BTC ( 255.4 sat/byte ) at current sat/byte rate for next block.
This is obviously unreasonable. So I had to change the payment method. With that I am now in some hassle. 1. I had to move the campaign thread from Service board to Altcoin board. 2. Asking LTC address from the participants and many more. I think in the next BTC paying campaign I will consider an LN payment if I can convince the devs of whatever the project is. One problem I see is the wallet making hassle for campaign participants. Do we have a topic about creating LN channel using Electrum? An alternate option could be to allow participans using custodial wallets where internal transfers are free. Maybe you can offer some sort of bonus for such users? |
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You can get more details at https://www.binance.com/en/support/articles/360034998492. You should know by now that such interest is too good to be true, and there is no way they can keep the service if they continuously pay such a ridiculous amount (even a ponzi is not that crazy). If you're interested in 10% interest for 7 days maybe direct P2P lending is the alternative. I don't think 6% APY is ridiculous number (for company like binance) Their source of funds is pretty clear (trading fees) and in combination with effort to motivate users keeping the funds on platform (which I think is the main drive) it's reasobale from the bussiness point of view. To me much more risky are those crypto.com, celsius etc. (where the source of funds is unclear ... probably it's lending but who knows) @OP The calculation you got from hosseinimr93 is correct, I will provide couple notes: You will be paid every day (not just whole amount after those 7 days ). The day you enter the funds are marked as subscription,next day they become active ( so your first pay comes 3rd day) Here's how I roughly estimate what the rewards going to be (example 600 USDT, APY 6%): 600 x 6 \ 100 (result gives an amount you would earn keeping it whole year, to get daily reward divide it by 365, for monthly reward divide it by 12 ...) |
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I'm using it mainly because I found difficult to keep open multiple charts (on multiple exchanges) in a browser.
Quite offten I was facing browser crashes, freezing and similar stuff.
Now the binance charts are in app (you can have 8 active chart tabs ), couple charts from other exchanges in browser and it's significantly more stable.
On the other hand, the app uses lot of resources (on my laptop I have to restart it time to time) ... but I still find it quicker than restoring crashed browser.
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Most of DEX run on a specific blockchain(Ethereum, BSC, Tron and many more) only which Bitcoin can’t do crosschain on it.
Those are NOT exchanges, they are token swaps. That is why there is no bitcoin or any other cryptocurrencies available for trading on any of these so called "DEXes", they are using the wrong term. For example you can't trade Doge with LTC on any of them only swap one token on that platform for another token on that same platform, you can't even swap a token between platforms (like ethereum token with tron token)! At atomicdex (KMD) you can swap LTC\DOGE. After the deal is finished you will find records of the transaction on both chains. |
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I maybe just need tomleave it put as I grow the lump to the point where the withdrawal fee seems less ridiculous
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Yea, I say it's the simplest and probably the best thing to do now (assuming you're not in hurry to move the funds). Always can try again later when the fee situation gets better. In addition binance is one of the exchanges where funds can be put to good use instead just laying around (lock\stake or savings for at least some small profit). |
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How about converting into currency with low withdrawal fee, moving to gemini and buying back your original holdings?
It will cost you cca 2x0.1% trading fee plus withdraw fee (if same trading pair is listed on both exchanges).
I'm doing this quite offten (also with amounts under 1k USD).
for ex. USDT can be used. Withdraw from binance over Tron network (TRC20) is quite cheap (1 USD at the monent ... used to be 0.1 few months ago)... at some exchanges even without fee.
Usualy I'm using LTC as the transfer asset (cos I also don't mind to keep holding). Or XRP has really low fee, but it's more risky due to quick price swings.
Note there is risk this middle coin falls durig that time which can cost you more than regular transafer fees (but to be fair the opposite can happen as well).
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Every site/exchange/company/person/app/etc. which requires you to deposit coins before you are allowed to withdraw is a scam. Full stop. No exceptions. They are trying to scam you.
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AMEN @OP I'm 100% sure this platform is not legit. Stay away. Forget about them. Nobody is giving 43k USD just like that ( this must be clear to anyone with working brain ). All you received is just float number in their database. |
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Some ATMs are buying BTC. Try to find some in your vicinity and check if supports this feature.
Couple times I got fiat from Kraken and money arrived next day via SEPA (I'm in EU).
Lot of my friends have good experience sending fiat from binance.
You could also take a look at localbitcoins.com ( if you find buyer with the account at same bank then it can be almost instant ).
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Sound notifications are available in their app.
Although there are some notifications available in their app, I don't think order filling is working. ... It works for me (windows app). It's just a single short beep (easy to miss). And looks like it's not working when you have the given pair chart active (open). |
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Sound notifications are available in their app.
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I guess any DEX will suit you. Here's what I'm using with couple notes (my opinions, better do your due diligence )
atomicDEX - runs on komodo (KMD), around 2O coins, trading fees are terrible for BTC ( other currencies are ok ), but not so many users thus it has low liquidity.
tronlink - runs on TRON (TRX), integrated polonidex, justswap and daps browser
trustwallet - officially supported by binance, many coins, runs on binance chain (BNB) and ETH, integrated swap and daps browser
coinomi - many coins, integrated changelly swap
At the moment my favorite is trustwallet because you can stake BNB and staking sufficient amount can cover all trading fees.
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Hello,
I installed the MetaMask wallet in my browser and created an account. On top of the page it showed me "Account 1", that I think that is my Ethereum address. At the bottom of the page, I have "Add Token" button. I clicked on it and paste the SHIBA INU address and after it, in the Assets section, a "SHIB" option appeared.
Now, I have some questions:
1- If I remove the MetaMask extension, then all of my cryptocurrencies removed or I can recover my account by the seed phrases?
2- To buy SHIBA INU, I must buy ETH and then swap it to the SHIBA INU?
3- If I add the Tether to my MetaMask wallet, then I can convert all of the tokens to the Tether and then send it to another wallet like Freewallet?
Thank you.
1a - You are in wrong section ... move this topic into alt coin section of forum (find move link is at bottom left) 1 - Yes. Seed phrase is a full backup of your account (including all ETH and tokens you will ever receive in future) 2 - acc. to coingecko and cmc you can buy them using USDT or ETH. But you definitely need to buy ETH as you will be required to pay the swap fee (swap is just like regular ETH transaction) 3 - Yes, but as said above each single swap will require ETH transaction (paying fee). FYI: USDT is transferable over multiple protocols (Ethereum - ERC20, Tron-TRC20, Binance chain-BEP2 and couple others) Note you should always pay attention to which version you are sending where. In your ETH address you will hold the ERC20 version and should be sending it only to ERC20 compatile address (ethereum address). Sending it to different one e.g. TRC20 will result in lost funds. Most of wallets will check the address format you put in and warn you if something is wrong ... but still it's good to keep this in mind. |
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Bitcoin has too many drawbacks to replace fiat in business as of today. High fees and at least 10 minute waiting time means it's not suitable for small purchases and physical stores,
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On the contrary, some retailers are using coinbase. If customer also have an account then it's convenient even for tiny amounts (internal transfers are instant, zero fee). |
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Wow, what an interesting asset. If I were you I would definitely hire some lawyer or agent to help with the legal stuff and administration required when selling real estates. (unless you are experienced in this field). For start you can try listing on this forum just to check if there is any interest. Put it in marketplace\goods section I'm pretty sure lot of local users can afford such deal and If anyone gets interested you can negotiate exact details how to proceed further. BTW As you said running a motel is not your call. Have you considered hiring a deputy to take care of the annoying part? Could be much less hassle. |
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Bitcoin is not much suitable for small amount transfers.
I'll also provide you a couple notes to consider.
If you use the electrum it has function "replace by fee". It's useful when you notice the fee of sent transaction is way too low (no confirmation for hours...).
This rbf allows you to increase the fee of previously sent (still unconfirmed) transaction and speed the process.
For these kind of small payments you could try using custodial wallet like coinbase.
Transaction between coinbase accounts are free and almost instant. Quite lot of users and shops use them.
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do you guys know where I can stake bitcoin? You can't. Bitcoin is Proof-of-Work, not Proof-of-Stake. Whoever tells you that you can stake Bitcoin is a liar and whatever platform allows you to do so comes with a risk of loss. I think it's better even to own an altcoin with PoS like ETH rather than owning a pegged artificial Bitcoin with promised staking. The problem with all these defi projects now is they are calling "savings" as "staking". But also I suppose the term is not wrong since people are putting up their coins/tokens as a stake to get something else. But yeah, I think they should have used other terms like locking in or vesting instead cause even I was confused before when they did it. Binance itself finds tons of people "staking" in their own platform, using their Bitcoin to trade for "wrapped" BTC. Yeah, it is, there's a lot of staking terms. So both of them "Binance and SnapBots" use it to trade? Do you think it's profitable? "savings" and "locked staking" at binance is actually lending them your BTC or other crypto and I'm pretty sure they made of it much more then the 1% APR which you get from them. Money make money ... same works for bitcoin. Couple other sites I know where you can "stake" (understand getting BTC for putting your BTC at risk): Kraken exchange have savings for BTC but gives only 0.25% APR IIRC. At kucoin, poloniex and bitfinex exchanges you can lend BTC to other traders and get APR according actual demand. Freebitco faucet, gives you cca 4% APR I'll mention also crypto.com, celsius ... ( im not involved in these so better do some research ) |
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Miners don't get money directly.
They get BTC and have to sell them if they want money.
Those BTC come from 2 sources.
1 Transaction fees - the fee paid by transaction sender goes to miners.
2 Block reward - fixed amount of BTC for each block miner generates.
The 1st part are already existing bitcoins.
The 2nd part comes out of thin air. Its newly generated (created) coins. Call it supply.
Once all 21mil. BTC gets mined they will get only the 1st part.
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