I am not withdrawing. I am buying crypto on Crypto.com app.

I buy from Fiat Wallet say Terra Luna, and it has 0 fee.

The link you showed me is where I got the 0.36% from. Why was I not charged 0.36%?

When I sell will there be a fee?


There is 0% withdrawal and trading fee if I hold their coin? Where does it say this?

So if I buy $100,00 BTC on Crypto.com app, there is 0% commission fee?

Hi all,

So I have been trading with Crypto.com app for a while now, however recently I have been buying some crypto, and I have realised that it comes up with 0 fee?

I have the Jade Green, however when I go to their website it does say I need to pay a 0.36% commission fee. Yet I have bought like three different transactions in the past month with 0 fee.

Is there some promotion going on at the moment?

I'm not complaining lol just wondering what is going on.

Thanks

Thank you, I understand as mentioned in my reply above.

I do want to point out then that maybe the term "Volume" is misleading then, as the actual definition of Trading Volume is that that I originally described (by unit).

What it is actually displaying is Value of the volume.

Thank you,

EDIT:

Might I also add that I am not asking why it is USD vs another currency which some of you seem to imply. But rather why it is USD vs unit.

Thank you that makes sense.

I was thinking in my head that it is the number of people trading (actual volume) that is important in determining how the market may move, but I was mistaken. It's actually the value. One whale trading $100M will move the market more than a thousand traders trading pennies.

Thank you for clarifying

Hi,

So on Coinbase, the "Volume" of any crypto has unit measurement of $.

However my understanding of Trading volume is the amount of crypto that is traded (not the value)

So for example, if in the past 24 hours for Bitcoin there was only one transaction pair - Someone sells one bitcoin for $50k and someone buys it for $50k.

I would expect the Volume to be 1 and not $50k.


Am I missing something?

Thanks

Hi All, thank you for your replies, So I have transferred 0.001 BTC over to Trust wallet and I have been playing around and doing some research and I have a new list of questions. Again please link me to relevant tutorials if there is already an established guide for my questions. Thanks in advance. I am going to post my questions, and then after it what I think. Let me know if I am right or wrong:


5) What is the difference between the Swap and Exchange on TrustWallet?

On Coinbase, when I wanted to sell all I had to do was pick my designated currency (GBP) and pick my amount (number of BTC). It will then execute the transaction.

As I understand it for TrustWallet, the Swap function is similar to that on Coinbase above.

The Exchange is an actual market, where you actually set the amount you want to sell (number of BTC say), but also set the price you want to sell at. I.e. it is an actual market. I had been using Coinbase so long I didn't even think about it in this way.

This then lead me to a few more questions

6) On the Exchange, what happens if I enter in something ludicrous? I.e. Sell 1 BTC for $50,000

Would this just sit on the exchange and never be executed? And nothing would happen?

7) What about is the supply is higher than the demand? Imagine hypothetically there 10 people on the exchange are trying to sell 1 BTC at £8,000 but there were only 8 buyers. What happens to the last two sellers who don't sell?

I would imagine that their sell transaction would just sit on the exchange as in 6) above, and would be swayed by normal demand and supply forces, probably forcing them to lower their price.

If this is correct, this leads me to my next two questions

If the above is correct, then does that mean the market is not immediate? I.e. Say the BTC is freefalling, and I want to sell urgently. If I put a sell position on the exchange, I have to wait for someone to accept my offer? Does that mean it would be better for me to use the "Swap" function, even though it charges a transaction fee?

9) On Coinbase, hypothetically, say I sell 1BTC at the market rate of £8.000, but I am one of those remaining 2 people in 7) above. I.e. there are no buyers. What happens?

On Coinbase I am inclined to believe the sale will still go through for some reason. Does it just get sat with Coinbase internally?

I.e. Coinbase will give me my GBP cash, and they keep the 1BTC and that will sit in their books until a sale comes up? I.e. they hold the risk at this point?


10) When I transferred my BTC to TrustWallet, it became BTCB BEP2. Do I actually still own BTC?

So from what I have read, 1BTCB = 1BTC. It is Binances way of labelling their tokens? It is pegged to the BTC. But do I still own 1BTC at this point?


11) In this scenario say I want to cash out how do I do that? I sell my BTC (BTCB) into USD (USDSB) and then what? How do I get it into my bank account?

I have read on other places that the answer is to get it back onto an exchange and then cash out. For example I could transfer my BTCB back into my CB and then cash out that way.

Is there no way to do it within TrustWallet, as the DEX in it is an exchange itself? But I see no place to connect my bank account.

If I do have to get it back onto coinbase, that means I have been charged twice. Once to move from CB to TW, and once back from TW to CB.

12) When I buy on Coinbase, I get charged a commission. Then then transfer to TW, and that is another fee. I.e. There are two fees. If from now on, I buy my BTC straight form the DEX in TW, does that mean I will only be facing one fee now? As it will automatically put it into my wallet right? So the only fee really is the purchase commission fee.


13) When I transferred the BTC from CB to TW, I incurred a very small fee of £0.26 on a £10 transfer. however when i go into the "details" of the transaction it says "Network Fee: £6.75". However, I don't see this being charged to my portfolio? My portfolio is worth a little under £10, as I expected. Where has this £6.75 been charged?

14) TrustWallet doesn't cater for GBP, which is my preferred Currency! That means I need to be wary of the USD/GBP FX as well!


I am so sorry for the long post!

I am starting to wonder if TrustWallet is for me. I simply wanted a very simple wallet that can protect my BTC. And also where I can sell urgently if needed to. Maybe if I give it a while to understand all these features it may be worth it. But if you have any other recommended wallets for someone of my level, do give me a shout.


Thank you guys so much.

Thank you both for your answers,

1) I see, so basically it's a forgot password verification process.

2) Okay I will try it thanks

3) Okay I guess I will have to learn this new exchange. I am a bit nervous considering I have used Coinbase for so long. Maybe I should transfer half and play with that first? In case I mess something up

4) Oh wow really? So that means the fee charged on my transfer will differ depending on the time of day? Maybe I should wait until a low period in the day then. I don't really understand the numbers on that link (sat/Vb?), but it says average $1.16 dollars per transfer, so if I see anything higher than that I'll wait maybe?

Thank you again,

Hi All,

So I started investing in Bitcoin maybe a year ago now and have always kept my BTC on the exchange. I have recently been investing more, and so am looking into using a software wallet.

So I downloaded Trust Wallet.

However I am having trouble finding answers to my many questions, there doesn't seem to be many good guides out there. If you can link me that would be great. Sorry in advance for my noob questions, but I am a complete novice to not just wallets but Crypto itself.

1) I have downloaded the Trust App, and created a wallet. It has asked me to remember my 12 code password. I have also set my own pin password. Is the 12 word passcode used only in the event you forget your pin?

2) I can't find anywhere on Youtube a guide to transfer my Coinbase BTC to this wallet. Do I just copy the address and send to the address from within Coinbase app? Is it that simple?

3) Say now all the BTC is in my wallet and none on the exchange and I need to make an urgent sell. Does that mean now I have to transfer the BTC from my wallet, back to the exchange to then sell? Does that mean that in using a wallet, you have lost I guess the "live" part of it?

4) How much commission does each transfer in and out of the wallet cost me? There is no information on Trust's website, and cannot find on google, like why is it so hard to find?

Thank you very much in advance!