Transfer times and fees?

[Ranly123]

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 🙂

Transferring Bitcoin to exchanges takes a lot of time and toll. So we should find another way on how to make trades faster and catch the trend. The strategy you shared sure would work fine.

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[hermankoles]

lots of coins that have a small fee and this is beneficial for us if we want to transfer between exchanges or wallets. I usually converge on NANO, ADA, XLM coins and other cheaper coins before making a transfer and I will also check whether the coin is in my destination exchange, this will be more efficient and cheaper than sending BTC between exchanges

[richcorner100]

Yes i always do that when make transfer crypto to others exchange, first i looking for the lowest withdrawal fee of crypto that tradeable on the that exchange. Usually i choose XLM, XRP, NANO, NEO, DOGE to transfer trading balance to others exchange.

[BitcoinTurk]

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 🙂

As the mining difficulties increase, we can see that the transactions are realized with more commissions and they are realized in more time. At times I was sending very low transfer fees in seconds, and in some times I was waiting for hours with a high transfer fee. The best thing you can do in the case you specified is that you can use Nano as you said. But I will give you another advice that you will be free of transfer fees if you trade with this service. You can transfer with NEO or NEO Gas. Although the NEO network is very rarely faced with problems, I can guarantee you that all of your transactions will be fast and free of charge. You can also speed up your transaction by paying too low Gas.

[pratik009]

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 🙂

Yes you can do it but i think it will also take more time. I recommend you to use XRP beacause it's transaction fees is very less ,but for this you have to first convert your btc in xrp then transfer to the other exchanges ,and there again you have to convert it into btc for your further ttading. So it's depends on you to choose xrp or btc or any otther coin.

[manggis97]

Many exchanges has withdrawal fee of crypto so high like above $10,  but many others coin just have withdrawal fee less than $0.1. So important to know which coin that have lowest withdrawal fee and low spread on the exchange. 

[akram143]

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 🙂

we can transfer money anytime but the fees is important and we will need to pay it in sometimes it will be extra but the demand with pens and the transfer fee so we cannot change it are we can wait for sometime exchange.

[Lanatsa]

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 🙂

As the mining difficulties increase, we can see that the transactions are realized with more commissions and they are realized in more time. At times I was sending very low transfer fees in seconds, and in some times I was waiting for hours with a high transfer fee. The best thing you can do in the case you specified is that you can use Nano as you said. But I will give you another advice that you will be free of transfer fees if you trade with this service. You can transfer with NEO or NEO Gas. Although the NEO network is very rarely faced with problems, I can guarantee you that all of your transactions will be fast and free of charge. You can also speed up your transaction by paying too low Gas.

There are lots of altcoin or alternatives when it comes to almost instant transfer times and with having free or very low fees compared to traditional Bitcoin.
I cant deny that those alts do provide on what most people do seek out when it comes to transfer rate and fees but still people end up on using btc.
Its just a matter of preference though yet you can choose up a wide variety of alts if you prefer those things.

[rose9696]

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 🙂

I often do it whenever I want to transfer my money to another exchange. This is a smart way and that will save a lot of your time and cost. The Nano has a very cheap transaction fee and very fast speed, which is a great altcoin. But if there is no Nano in exchange, you can choose XRP. It is just as good as the Nano.

[tadpole_bitfrog]

It is also a great solution. The trading with BTC and waiting for blocks to be completed is very long. We need a better solution. I think the BTC should be upgraded and should not retain the old technology anymore.
That really made holders of BTC encounter many difficulties when trading.

[whirlcoin]

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 🙂

yes transfer time are also made the changes in your profit because if you don't have any strategic changes in your selling and buying you will definitely have to consider about the profit that you have invested and selling especially the exchanging Frees also need to consider by everyone for getting the good profit at the end.

[Whosdaddy]

Don't forget about the transaction fees while converting your BTC to fast transferrable cryptocurrency like Namo as the price there would affect your profits. Why don't you try etherum? ETH transactions are much faster than the blockchain networks as the fees there is also less as compared to bitcoins.

Also, most of the exchanges support ETH, instead there are not much exchanges which dosen't support ETH. Also currently there is not that high fees for bitcoin transactions but i do agree with you about the long transaction confirmation time which is not worth waiting atleast in trading with the cryptocurrencies.

[Sanitough]

Don't forget about the transaction fees while converting your BTC to fast transferrable cryptocurrency like Namo as the price there would affect your profits. Why don't you try etherum? ETH transactions are much faster than the blockchain networks as the fees there is also less as compared to bitcoins.

Also, most of the exchanges support ETH, instead there are not much exchanges which dosen't support ETH. Also currently there is not that high fees for bitcoin transactions but i do agree with you about the long transaction confirmation time which is not worth waiting atleast in trading with the cryptocurrencies.

ETH is faster and it's a good advise, but if you a real cheaper and faster at the same time, why not used XRP.
I made a lot of transactions using XRP transfer from international exchanges to my local exchange and money arrives instantly, and the fee is really cheap.
In terms of liquidity also, I don't see a problem with XRP as it's next to ETH in standing.

[r1a2y3m4]

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.

[ToyotaFortuner]

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.

I think there are many alternative coins that you can use to reduce the transaction costs like you use a doge which when shipping only requires very little cost and the delivery is also very fast and the exchange is also stable.

[ethereumhunter]

I think he can try to collect all of his profit in the night and then he can transfer all of his profit or money in one-time, I guess that will be prevent us from making more than one transaction. Besides that, we only send the bitcoin in one time only, and if you send from bittrex, poloniex, and binance, I think the fee is not too big, and the confirmation of the transaction will not takes too long. Or maybe you can try with waves because waves can be a good solution to exchange your bitcoin aka your profit into waves and then you can send the waves to another exchange.

[coinplus]

Right now, if you check the bitcoinfee website it shows that fastest and cheapest option is to use 148 satoshi/byte which means it is not the slowest but it is also not the most expensive as in it wouldn't be stuck there for hours but it also wouldn't be idiotic like spending 1 btc for a transaction, with 148 satoshi per byte you get the regular speed that is expected from the transaction. Considering the size is usually around 225 byte than you should be paying about 33k satoshi per transaction.

It is certainly not cheap and it all depends on what you use (core, segwit, lightning network) but that number is about the expected as you can get. That way you can get it under 40 minutes for sure and you won't have to wait, it will not take hours to get your coins.

[Jating]

Right now, if you check the bitcoinfee website it shows that fastest and cheapest option is to use 148 satoshi/byte which means it is not the slowest but it is also not the most expensive as in it wouldn't be stuck there for hours but it also wouldn't be idiotic like spending 1 btc for a transaction, with 148 satoshi per byte you get the regular speed that is expected from the transaction. Considering the size is usually around 225 byte than you should be paying about 33k satoshi per transaction.

Right, so for everyone who is moving funds around, I would recommend to check the fees first before sending it out. Your transaction might get stuck. Usually we encounter this kind of issues when bitcoin price is moving up.

It is certainly not cheap and it all depends on what you use (core, segwit, lightning network) but that number is about the expected as you can get. That way you can get it under 40 minutes for sure and you won't have to wait, it will not take hours to get your coins.

I used Electrum, and I manually adjust the fee's if needed. Might not be cheap but as compare to other mode of payment, bitcoin fees is way more cheaper, just saying. 

[fullhdpixel]

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 🙂

What I think you should do is to find a way to avoid sending coins from one exchange to another because it you will never be able to avoid paying huge amount for fees since it's the exchange that set this fees and there is nothing you can do about it, just look for an exchange that you has all the coin you will need to trade in so that you don't need to exchange from one exchange to another spending all the profit you have gained from the exchange as transaction fee in sending the coin to another exchange.

[jems]

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.