Quote from: Mutsuhito on January 26, 2018, 12:39:42 PM

Quote from: Bigpiggy01 on January 26, 2018, 05:48:33 AM

Quote from: Mutsuhito on January 25, 2018, 11:07:07 PM

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

It really depends on your personal set up. If you have an exchange where you can get better than coinpot rates, not doing so is a bit silly. I withdraw the ones where I have a lot referrals a few times a month and the ones where I don't about once a month.

So for example if you're in the US (or elsewhere that has Gdax/coinbase service) and have a Gdax/Coinbase account, not withdrawing to your email and exchanging there is a bit silly as you can save network fees etc.

Withdrawing BTC frequently from faucets to a wallet is one sure way to end up paying massive transfer fees as the number of inputs on your outbound transactions are going to increase the size of your transaction, frequently to the point where you can't spend the coins as they'd cost more in fees than their total value.

If you're in an area that does not have coinbase exchange services, converting everything to bch or ltc is very likely to make sense.

I hope this helps Grin

Thanks for your answer.

I don't have any account in Coinbase but I am thinking to do it. Anyway I don't understand which networks fees I can save, I mean. There are just only one fee in Coinpot (for btc). Are you talking about that or are you talking about the fees inside other exchange which are not coinbase?

Do you think is it a good idea withdraw my coins directly to a wallet like JAXX instead of an exchange?

I hope you understand me, I am quite new in crypto-world.

Thanks

Withdrawing btc payouts to a wallet creates a ton of tiny inputs on that wallet. What this does is it will increase the network fee you need to pay to send those coins from that wallet (each input increases the kb size of the transaction which is what the network gets paid for), often to the point where the network fee would end up costing more than what the transaction is worth.

I'd been on hiatus from crypto for a while and claimed around 0.04btc from faucets to my wallet which was an idiotic mistake as current network fees ended up costing me almost 0.02 to send them. Back before I went on hiatus for a while, coins with over 120 confirmations were free to send Grin

Always be up to date on what's going on or you'll burn your fingers at some point.