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Author Topic: Minimum Bitcoin amount to be sent  (Read 348 times)
khaled0111
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July 23, 2020, 09:42:36 PM
 #21

An exchange wallet like Binance won't help in this case, even exchanges in general because of their withdrawal minimum and transfer fee.

Actually, it can help.
OP is not asking about withdrawing but asking about receiving from someone else on his Binance account.

Binance has an internal transfer feature which allows users to send coins to each others without paying any fees.

The drawback is that he will have to use an exchange as his main wallet to receive payments which is not recommended.

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July 23, 2020, 10:25:13 PM
 #22

Welcome to the forum.
...Let's go
The combinations are many.
That depends on the wallet or Exchange.

In wallets, there is a premise do not send less than 5 times the value of the fee.
why ?
A: In the long term money is lost, simple.
 
1.- E.g. paying with the wallet electrum a minimum fee ... of rounding (which can be more but, come on! let's speculate  to a matter of merely school) 122 sat (this depends on sat/b), then The minimum should be Sat 610. What you can send less, yes! but the point is for you want to send less than that or at least $ 1: so when.
-The case of the OP
-You want to verify the address before sending, a significant amount.
-you need to make a minimum deposit to withdraw a prize, bounty.
-you want to make a deposit and live the experience.

In other Wallets you can not send less than the amounts established by them (Wallets).

2.- Atomic Wallet charges between $ 0.45- $ 0.70 (approximate values), that is, in your case it would be a minimum amount of $ 1.45

There are Wallets and Exchanges that can send between users of the same network (not bitcoin network) sat or BTC.

In reality, those who think to sell something for $ 1 and get paid in bitcoins. Let's go! which is fine as a practical exercise to explain.

Simply, the only suitable thing here is to know what your technical resources are to receive a $ 1, expecting them to be 10,000 products, which does make sense there.

So I recommend you, just use e.g. an electrum address.
It is already a buyer's problem if it says payment with bitcoins.

Add other traditional wallets to your fund management, for example Advcash does not charge a fee for shipments between users and you can use it in binance without problems, they are now trading partners.

I hope you don't just understand the point of selling a single thing for less than $ 10 in bitcoin, also make him see that there are other more profitable routes to selling what you are trying for $ 1.

 


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