Post
Topic
Board Trading Discussion
Re: Cheapest way to transfer crypto from Kraken to Bitfinex?
by
BitcoinHodler
on 17/12/2017, 13:59:15 UTC
(short answer i believe LTC is good)

i am not using these two exchanges so i don't know the fees. but in order to do something like that you need to do these things:
1- check the trading fees of these places
because you will need to pay trading fees 2 times if you want to transfer bitcoin from one place to another using an altcoin.

2- check the price difference and spread in the altcoin that you chose.
if the altcoin has a higher price and a smaller spread you will lose smaller.
for example Doge withdrawal is 1 Doge (~20 sat) but you on one exchange you may have to buy at 22 satoshi and sell on the other place at 20 and that is 10% loss before trading fees! but if you buy something more expensive like LTC at 0.017 and other place is 0.01699 you won't lose much.

3. check the withdrawal fees.
sometimes some exchanges have higher withdrawal for some altcoins!

4. check to see if that altcoin's network is working properly, exchange wallet is operational not in maintenance and make sure you can withdraw.
sometimes these issues do happen.