Bitcoin wallets and fees

Discussion in 'General Discussion' started by penche, Nov 17, 2017.

  1. penche

    penche Member

    Ok i got shafted $25 dollar on fees with a third
    Party bitcoin wallet, on a $65 dollar total. This has never happened. Wallet was mycelium. Was going to use bread wallet but heard same issue. Anyone else experiencing this mess or high rates. I purchase with Coinbase but transfer to another wallet. Coinbase fees are not nearly as high although they will block your account if they don’t like wht they see in regards to transactions. Anyhow, any info appreciated.
     
  2. Maj1979

    Maj1979 Member

    I use Blockchain to pass thro but they charged me 35 or 40 bucks for my last 700 dollar transfer so I’m in the market as well
     
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  3. penche

    penche Member

    Yea that’s some bullshit rape rt there
     
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  4. Maj1979

    Maj1979 Member

    I gotta get it figured out soon too, it’s about time to re-up on my HG. Post links to different sites or apps and we can check them out. I’ll do the same unless someone already knows
     
    penche likes this.
  5. Iron Vett

    Iron Vett Member AnabolicLab.com Supporter

    Bread charged me $12.50 on a $230 bitcoin transfer.
     
    penche likes this.
  6. Holistic

    Holistic Member

    Bitcoin is slow and expensive as far as sending money...

    Here are some ideas:

    1. The more you pay in mining fees the faster the transaction. Most people want fast transfers so wallets default to highest fees(fastest transfers). I use jaxx wallet and you can set the mining fee based on how fast u need to transfer the bitcoin. See picture attached. >>> if you can wait a bit send it with a low mining fee (slower but cheaper)

    2. Ask the receiver if they will take ethereum or litecoin >>> so much cheaper and faster than bitcoin (Bitcoin has become a store of value and not optimized for transferring money)

    I've used both options 1 and 2 and they work perfectly.

    3. To really avoid fees you can use gdax (which is coinbase) and put limit orders in and there won't be a 3.9% fee to buy bitcoin off a credit or debit card (however bank transfers are a great option) here's a YouTube video on avoiding card fees...

     

    Attached Files:

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  7. penche

    penche Member

    Thank you brotha very helpful info !
     
    Holistic likes this.
  8. Holistic

    Holistic Member

    This shows the cost to send $135.78 litecoin... $0.01 (a penny)

    Cost to send $26.69 ethereum >>> $0.19

    I paid $4.50 to send $25.00 of bitcoin recently
     

    Attached Files:

  9. rugerjitsu

    rugerjitsu Member

    Coinbase just charged me less than $3 to send $140 to my exodus wallet...
     
  10. Maj1979

    Maj1979 Member

    Awesome info brothers