Post
Topic
Board Tokens (Altcoins)
Re: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem
by
Call_Me_Bambi
on 19/09/2018, 18:26:14 UTC
I understood. Now for me to understand very basic way about transaction fee and withdrawal. Does the transaction fee vary depending on the crypto I am operating and the withdrawal rate also varies? And to make a withdrawal from Bancor, do I have to have Ether or BNT in my wallet or not?

I signed up to the Bancor exchange to trade a small amount of Loctrip (LOC), just to test out Bancor. I depositing what I thought should have been enough Ether to cover selling costs but the sale would not go through as it complained there was not enough ETH to cover GAS, so I asked on the Bancor telegram channel what would be minimum amount of ETH and an admin said 0.02 ETH should cover it - WOW ! at current prices that's about $4.00 (USD), when it only cost me about $0.03 (USD) to transfer the ETH to Bancor. Now I know it's not just a simple transaction but $4.00 worth ?