How to get Bitcoins? Cryptocurrencies have become quite commonplace for many people. Every day, tens of thousands of transfers are made between wallets and exchanges around the world. However, few of us think about how much money is spent on paying commissions for transfers. In fact, some transactions lose a significant amount. For several months, the user can safely lose the amount that would be enough to buy a new TV or washing machine.Therefore, it will not be out of place for everyone to know how to save money on such operations.
What is the commission of crypto exchanges?
There are exchanges that charge 0.001 – 0.002 BTC (9 – 18 US dollars) for the transfer. There are those who ask a little less. How to get Bitcoins? For example, Poloniex asks for only 0.0005 BTC (about $ 5). However, having made 10 or 20 transfers, the amount ceases to seem so insignificant. Therefore, we offer a good option that will make transactions almost free.
How to save my Bitcoins?
First, you need to choose some alternative currency for making transfers. It must meet the following criteria:
- It should be low cost. The transfer fee will be lower when it will be possible to purchase more coins for the money available;
- On two exchanges selected by the user, there should be a minimum difference between the price of buy and sell orders;
- It is necessary to pay attention to the trading volume. The larger the number indicated for buying and selling, the less the course is subject to fluctuations, as a result of which the probability of a sharp change in the situation in the unnecessary direction will be lower.
The best coins to circumvent high commissions are Dogecoin. Both meet the above criteria, but Dogecoin transactions are confirmed much faster.
DOGE is a fork of Litecoin. In technical terms, there were practically no changes, but in terms of marketing, both cryptocurrencies are significantly different from each other. The following features of this coin can be distinguished:
- Block formation takes only 1 minute (LTC – 2.5 times longer, BTC – 10 times longer);
- Infinite emission;
For the transaction you need to pay only 2 coins, regardless of the amount of transfer (this is only about $ 0.0047 or 5.1 * 10 -7 BTC);This coin has all the attributes of popular cryptocurrencies (anonymity, decentralization, advanced security system).
How it works in cryptocurrency exchanges?
As an example, you can exchange BTC for DOGE on some exchange, send them to another exchange, and then transfer the coins to your Poloniex wallet, paying a commission (unlike direct transfer).
How to get Bitcoins? You can give an example of a real case with detailed numbers: user N on the Bittrex exchange changes 0.01023405 BTC to DOGE, after which he sends them to the Poloniex exchange and receives 0.01019278 BTC. The final commission for the transfer came out 0.00004127 BTC, which is 24 times more profitable than directly transferring BTC between exchanges. You also need to add a fee for transferring to a cold wallet (a little more than one dollar), but even with this in mind, the difference still remains noticeable.
Top 10 exchanges are connected to the holderlab.io service, which allows to automatically compose a crypto portfolio and rebalance the portfolio at once on several crypto sites.
And one moment. After exchanging cryptocurrency for DOGE and transferring them to a wallet or exchange, these coins need to be sold. There are a couple of options: sell them at the current purchase or sale price. Here everyone must choose their own. Sales price orders are usually sold in less than half a day.
Dogecoin is wonderful coin.
In addition, it would simply be wrong not to mention another interesting fact about this wonderful coin. If you carefully look at the graph from Coinmarketcap of the DOGE price change, you can find one interesting detail. During the day, there may be a short-term sharp increase in the value of this asset. It is believed that due to the abnormally low commission, the coin is used on a large scale in arbitration operations, so by catching the right moment, you can also earn on DOGE.
Thank you for read this article about “how to get Bitcoins transfers between cryptocurrency exchanges?”. Read about 10 best cryptocurrency exchanges.