Post
Topic
Board Trading Discussion
Re: fee transfer too high?
by
harizen
on 15/12/2017, 14:36:34 UTC
Hi all, i'm new to trading and i made my first wallet of bitcoin in CoinBase...now i would like to buy some altcoin but if i would like to transfer bitcoin to exchange like bittrex or other they ask me an high fee for tranfer like 12$ for transfer 100$ of BTC....is it possible? How can you  make good trading if everytime you have to transfer money from wallet you have to pay so high fee?  I did mistake something? thanks

Just a Coinbase wallet for wallet purposes or you purchased your bitcoins at Coinbase for the first time?

If for wallet purposes, try not to used an exchange wallet since they are bound to have an increase with fees to ensure that funds won't be traffic along the way, that was fixed. But take note that while bitcoin price is increasing, you can really feel how high it was in terms of USD value as 50,000 satoshis today have different USD value on 50,000 satoshis in the past. You can modify fees at desktop wallets instead e.g Electrum but try not to set below the recommended fees or your transaction will stuck for long time.

If purchasing bitcoin directly at exchange, try to explore the trading platform you have chosen and check if you can able to do direct deposits there in order to purchase bitcoin. If you are comfortable with their bitcoin deposits methods then used it instead. Just do research since not all coins are same listed on different exchanges.