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JayDz
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December 14, 2017, 03:50:59 PM
 #1

So I had a bitgo wallet, but wanted to invest in Ripple.
So I send my btc to coinpayments wallet. Had 134$ in btc. next I had 115$ in btc on coinpayments, so lost 20$~
Next I want to convert to ripple, but ripple is down or slow or whatever so could't convert it.
Next I decide I want to convert the 115$ I have left in DASH. So I convert it, now I have 87.92$ in DASH.
How do I lose almost 30$ to convert such a little amount of coins? How do I invest without cc without losing like this? Angry
Thanks everyone   Huh
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December 14, 2017, 04:17:49 PM
 #2

So I had a bitgo wallet, but wanted to invest in Ripple.
So I send my btc to coinpayments wallet. Had 134$ in btc. next I had 115$ in btc on coinpayments, so lost 20$~
Next I want to convert to ripple, but ripple is down or slow or whatever so could't convert it.
Next I decide I want to convert the 115$ I have left in DASH. So I convert it, now I have 87.92$ in DASH.
How do I lose almost 30$ to convert such a little amount of coins? How do I invest without cc without losing like this? Angry
Thanks everyone   Huh

Fees is issue for all the transactions you made multiple times. If you are converting with in the exchange also you have to bear the some amount as fees and you will loose funds compared with fiat if you do like that.
Now gas fee also increased a bit in many wallet provider site including MEW wallet.

Try to keep your fund in any profitable coin then only you eoll not loose any fund in fees wise.

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December 14, 2017, 04:19:30 PM
 #3

The first loss of value is because of the bitcoin transaction fees. $20 is too much for a transaction fee in my opinion, and I personally wouldn't pay more than $5 if I'm not in the rush. Try adjusting the transaction fee next time.

The loss after your conversion from BTC to DASH is probably because of a combination of the conversion fees, and the recent slight drop in the price of DASH.

How do you prevent such high conversion fees? Stay away from services like Shapeshift and coinspayments. Instead, go with exchanges like Bittrex and Binance; that way, you can set your offers and or choose offers from current bids/asks.

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December 14, 2017, 04:38:40 PM
 #4

Preposters already gave good explanations , what happened..Exchanging decentral has many advantages , but you have to pay high transactions fees for each exchange. For amounts up to 200 Dollar I would recommend you to use an exchanger like poloniex , cryptopia, Bittrex or Bitfinex.So you need not pay those high fees for each trade . The exchanging fees are very low and you only have to pay transactions fees on deposit and withdraw. Only for higher amounts I choose your way of exchanging, but I only do this, if I want to hold the cryptocurrencies on longterm.

   

 
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December 14, 2017, 05:05:02 PM
 #5

If you don't want to loss so much in fees with bitcoin than you should keep your bitcoin in exchanger or trading platform so that you can easily buy other altcoins or convert into into fiat during pump and buy back bitcoin when there will be dump.

Don't keep moving your bitcoin or other altcoins between exchanges of wallets, you will loss so much if you only have small amount like yours.

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December 14, 2017, 07:39:47 PM
 #6

If you don't want to loss so much in fees with bitcoin than you should keep your bitcoin in exchanger or trading platform so that you can easily buy other altcoins or convert into into fiat during pump and buy back bitcoin when there will be dump.

Don't keep moving your bitcoin or other altcoins between exchanges of wallets, you will loss so much if you only have small amount like yours.

Keeping it exchange how he can convert it as fiat when the time he needs the bitcoins converted it. That time we will not be sure that same value will remains all the time and most of the exchange site will put the more fees while sending the bitcoins outside of the exchange wallet  So he can keep that fund in any online wallet.

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