Transfer times and fees?

[ShowOff]

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

That is indeed enough to enter and it has often been used to reduce and accelerate the costs of transactions or transfer of funds between exchanges. But you must remain careful in monitoring the price differences between the two exchanges.

Price usually something that really important to look. Not only fast, but money that we used to make that transaction must looked carefully. Don't let that fast transaction make us use more money than if we use bitcoin.

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[dunfida]

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

That is indeed enough to enter and it has often been used to reduce and accelerate the costs of transactions or transfer of funds between exchanges. But you must remain careful in monitoring the price differences between the two exchanges.

Price usually something that really important to look. Not only fast, but money that we used to make that transaction must looked carefully. Don't let that fast transaction make us use more money than if we use bitcoin.

Regarding on this trading pattern it seems that it is some sort of arbitraging or just simply converting your btc to other alts just for the sake of fast transactions but i dont get the point yet you would need to deposit once again those btc and tend to switch back.It would really just consume time and fees and also prices arent really that much of gap actually where you can able to profit between on their margin.

[Eildosa]

Yeah, it's a pretty logical decision. If there is such an opportunity to reduce the transaction fee, then why not take advantage of it.

[jvdp]

Yeah, it's a pretty logical decision. If there is such an opportunity to reduce the transaction fee, then why not take advantage of it.

How come first it is a logical reply here. Does anyone watch what is the first post day? It was around 6 months back old thread but still we people discusing about the fee reduction things in this thread.
Last few days due to heavy flow of transaction now we are seeing delay in transaction time and fees also needs to add high.

[Osarman]

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

All transferring of funds are having a fee. Nano has fee when you move it from one wallet to another. Bitcoin has fee and you need to pay for the fee in order to send it to another wallet. All of it has fee but you need to choose between two coins whether what coin does have the lowest fee. But I rather pick NANO since bitcoin transactions is worth .001 or so.

Well the transaction time is not a mater of concern. It has always been instant and might stay the same quick way. Fee is different from coin to coin but do not worry about that either because it is not so high and is very low as compared to what you pay in bank transfers. And think about the rising value in the market, a little fee like that is nothing in front to the rise in the value you get.

[KlepZ]

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

Maybe you mean you want that exchange to be fast and a fee cheap, well I recommend if you have a currency bitcoin currency redeemed to Doge, because Doge curve of Kirpto is fast in sending and very cheap for cost withdrawal

[panjay]

i think it's best to open coinmarketcap and see yourself the spread between exchange, it will give you good info for deciding which coin.

For me, doge will always be my go-to choice because it's simple and fast. Just watch out if you buying coin to be traded again because the coin that you choose sometimes will fluctuate enough and that makes your fund down like 2-5% from the point you buying.

[gabmen]

I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂

Maybe you mean you want that exchange to be fast and a fee cheap, well I recommend if you have a currency bitcoin currency redeemed to Doge, because Doge curve of Kirpto is fast in sending and very cheap for cost withdrawal

Yup. Most traders who do the same exchange to exchange transfers prefer doge. That's been one of the most used techniques even before. But i don't think btc transactions take that long anymore. And it's quite cheap as well compared to  previous fees.