Bitamp Bitcoin Web Wallet - Send & Receive Bitcoin Instantly!

[bitampcom]

^ Thank you for your response and indeed, we are not a custodial wallet -- if you have lost access, there is no way we or anyone else can help you.

There shouldn't be any error on withdraw unless the fee is more than the input...

[bitampcom]

Are there any crypto wallets with zero fees for sending coins out?

Unless the protocol itself specifies no fees (and almost no reliable crypto network has this), then you always have to pay fees. Some online services do provide free withdrawals, but then you aren’t in control of your funds.

With Bitamp, you can set fees according to priority. If you’re not in a hurry, use the lowest setting to pay the cheapest fees.

[OcTradism]

Are there any crypto wallets with zero fees for sending coins out?

Unless the protocol itself specifies no fees (and almost no reliable crypto network has this), then you always have to pay fees. Some online services do provide free withdrawals, but then you aren’t in control of your funds.

With Bitamp, you can set fees according to priority. If you’re not in a hurry, use the lowest setting to pay the cheapest fees.

Exactly. I don't know cryptocurrency that has a protocol that no transaction fee is given.

The zero fee that some people thought is from real fee in that coin or token but as a consequence of very low price of coin or token, transaction fee is very low and nearly zero in USD. Therefore people believed they have free transaction fee, that is not.

I checked the FAQ page again today.

Which seed phrases are compatible with Bitamp?

The following bitcoin seeds are backwards compatible with Bitamp to access your account instantly: Electrum, Mycelium, Blockchain, Trezor and Ledger.

Do you think the information for which types of BIP is supported by Bitamp wallet should be included in the FAQ page?

[bitampcom]

Is Nexo a safe and reliable wallet to earn interest?

A lot of questions are getting asked about NExo and other interest bearing services and the answer is the same: not your keys, not your coins.
Nexo and others may have been around for years, but if they get hacked, or decide to scam or just get into bad luck, your coins will be forfeit.

Learn from Mt Gox. Use Bitamp or another non-custodial wallet.

[bitampcom]

Exactly. I don't know cryptocurrency that has a protocol that no transaction fee is given.

The zero fee that some people thought is from real fee in that coin or token but as a consequence of very low price of coin or token, transaction fee is very low and nearly zero in USD. Therefore people believed they have free transaction fee, that is not.
==========

Do you think the information for which types of BIP is supported by Bitamp wallet should be included in the FAQ page?

I believe there are some crypto with zero fees, but they don't have good utility nor proven network security (I think some of the DAG coins for example).

Good idea, I'll raise to the devs. But it'll be pretty low on their priority! The BIPs supported by all those listed wallets already cover it really:)

[bitampcom]

So are institutionals and Wall Street bad for Bitcoin?

Can't be a bad thing. Bitcoin is for everyone who wants it, that's the beauty of it. We may reach a point one day when demand is consistently above supply, hence price that will just go up and up as people want this dwindling supply of store of value. Not in our lifetime? What do you think?

[FatFork]

So are institutionals and Wall Street bad for Bitcoin?

Can't be a bad thing. Bitcoin is for everyone who wants it, that's the beauty of it. We may reach a point one day when demand is consistently above supply, hence price that will just go up and up as people want this dwindling supply of store of value. Not in our lifetime? What do you think?

Can't be a bad thing, I agree. It's clear there is a mainstream fascination with this digital currency. And so institutions will very quickly take advantage of its economic advantages, much as they did with the Internet. But, I think we should all be looking at how to get the Bitcoin economy to grow, without relying on financial institutions to do it for us.

[bitampcom]

How to avoid Binance fees? 50,000 satoshi per withdrawal!

Get your own wallet, set your own fees. Any time you use online services, you'll pay the fees they set for you. Get an Electrum or a Bitamp, and use the network when the load's not high and you'll find txs can cost as little as a few cents.

[bitampcom]

Can't be a bad thing, I agree. It's clear there is a mainstream fascination with this digital currency. And so institutions will very quickly take advantage of its economic advantages, much as they did with the Internet. But, I think we should all be looking at how to get the Bitcoin economy to grow, without relying on financial institutions to do it for us.

And it's still just about 1% of the world that actually owns it, by the most optimistic estimates. To do so well now in early adoption, imagine how it'll be when 5% or 10% of the world starts using it! Bitcoin is here to stay, and here to grow.

[Taskford]

How to avoid Binance fees? 50,000 satoshi per withdrawal!

Get your own wallet, set your own fees. Any time you use online services, you'll pay the fees they set for you. Get an Electrum or a Bitamp, and use the network when the load's not high and you'll find txs can cost as little as a few cents.

But what happen? Does the transaction will go faster if we choose to select those wallet who offer lower fees? Or we will just go on the normal process where it takes long time before it will land on our personal wallet? Since if that's the case we'll I think I'd rather go with fast even if it cost much higher fees.

But anyways will explore to use this option since Exodus cost me a lot of bucks for every transaction.

[bitampcom]

How do I know if the Bitcoin wallet I use, like, for example, PointPay, is safe?

If it gives you sole control of your private key, then it should be safe. But the only way to be sure is to check its source code yourself to verify. PointPay isn’t open source, though, so you can’t;)

Use an open source wallet like Electrum or Bitamp. The only way you can self verify.

[bitampcom]

But what happen? Does the transaction will go faster if we choose to select those wallet who offer lower fees? Or we will just go on the normal process where it takes long time before it will land on our personal wallet? Since if that's the case we'll I think I'd rather go with fast even if it cost much higher fees.

But anyways will explore to use this option since Exodus cost me a lot of bucks for every transaction.

Not necessarily. But with your own wallet, you select your fees, and that determines how fast your transaction confirms. In fact, with an exchange like Binance, you have two things to wait for. The first, waiting for them to actually execute and broadcast your transaction. The second, waiting for it to confirm. You have no control over the fees they decide to pay to miners. In the past, exchanges have used really low fees (despite charging you high ones). Your keys, your coins, your fees.

[bitampcom]

Can I deposit any crypto in Coinbase wallet safely?

No, and I wouldn’t advice you too, anyway. Coinbase “wallets” are really just wallets that belong to Coinbase, and are assigned to you. Like most exchanges, notice that when you deposit crypto into these wallets, the actual addresses get emptied out (swept out)?

That means you don’t actually own any funds, except the balances credited to you in Coinbase accounts. No different from having a bank account, where withdrawals and transactions are at the mercy of the account managers.

[notblox1]

Can I deposit any crypto in Coinbase wallet safely?

No, and I wouldn’t advice you too, anyway. Coinbase “wallets” are really just wallets that belong to Coinbase, and are assigned to you. Like most exchanges, notice that when you deposit crypto into these wallets, the actual addresses get emptied out (swept out)?

That means you don’t actually own any funds, except the balances credited to you in Coinbase accounts. No different from having a bank account, where withdrawals and transactions are at the mercy of the account managers.

One more problem is that they are overloaded and they can go offline at anytime like they often did during Bitcoin ATH periods.

Since you are mentioning Coinbase exchange, can you update us with some news about Bitamp exchange and Lightning support?
How exactly is Bitamp exchange going to work?

[Chikito]

How to avoid Binance fees? 50,000 satoshi per withdrawal!

Get your own wallet, set your own fees. Any time you use online services, you'll pay the fees they set for you. Get an Electrum or a Bitamp, and use the network when the load's not high and you'll find txs can cost as little as a few cents.

But what happen? Does the transaction will go faster if we choose to select those wallet who offer lower fees? Or we will just go on the normal process where it takes long time before it will land on our personal wallet? Since if that's the case we'll I think I'd rather go with fast even if it cost much higher fees.

But anyways will explore to use this option since Exodus cost me a lot of bucks for every transaction.

it depends on which time, if the transaction overload, the normal fee will be a long time to confirm by mempool. Bitcoin transaction fees (in sats/kb). Sunday, Saturday is best to move BTC, better to wait and see or do with a low fees on weekends.

[bitampcom]

Someone requested our answer to this question on Quora.

How do I use a paper wallet to store keys? Do I have to store separate keys each time I buy more coins?

Just as you would a regular digital wallet. Paper simply means it’s stored — literally, on a piece of paper. The idea is, keeping the keys away from a digital presence so hackers won’t be able to get to them.
You never need the keys for more coins, just the public key (address). Each wallet has many addresses you can use, and giving those out won’t jeopardise your keys.

[bitampcom]

it depends on which time, if the transaction overload, the normal fee will be a long time to confirm by mempool. Bitcoin transaction fees (in sats/kb). Sunday, Saturday is best to move BTC, better to wait and see or do with a low fees on weekends.

This all presumes you're using exchanges that will conduct your transactions soon after you submit it. Binance probably does it very fast if not almost instantly from the hot wallet but still, you can't control how much they'll actually pay as a real fee for your transaction. It's happened often enough in the past that exchanges use too low fees not even equal to what they charge you.

[bitampcom]

People say that having your crypto in exchange wallets isn't safe, however if you use a crypto wallet app and the company deletes the app don't you also lose your crypto?

The full story is: don’t store your crypto in a service that you need to trust and rely on and this includes apps that control your crypto.
A non-custodial wallet or app is the correct solution, so only you control the private keys. Electrum and Bitamp are two examples. Even if Electrum is never developed again or Bitamp website closes down, you can always access your BTC with the private keys you generate from either wallet.

[bitampcom]

What kind of Coinbase account should a business set up to start accepting Bitcoin?


Why not take control of your own destiny and set up a free account to accept Bitcoin on your own, setting your fees and everything on your own. Take a look at open source BTCPayServer — just like owning Bitcoin, you should always control your keys.
Not your keys, not your coins!

[bitampcom]

My funds manager denied me access to my wallet and has changed my password, please how can I recover my Ethereum and bitcoins?

This is why you always need to follow the principle of self responsibility in crypto. Crypto for the first time allowed us to be solely in charge of our monies. Many crypto users don’t realize that they’re giving control of their funds to companies and exchanges and brokers when they sign up and store crypto on website services.

By all means use a funds manager, but always keep your BTC on your own wallet like Electrum and Bitamp, and cold storage for significant funds if you don’t need to use them.