Post
Topic
Board Beginners & Help
Re: Should I covert BTC to another to get lower withdrawal fees?
by
gentlemand
on 09/11/2019, 21:06:59 UTC
This was really helpful to me. I have used BTC as a means of withdrawing money for a long time. However, for currencies like TRX, ETH, XLM or LTC, ... the cost is very low, even it does not exceed $ 0.5. If withdrawing money, you should use non-BTC platforms, it will greatly reduce your fees.

It completely depends on your purpose. If you're trying to move BTC to another exchange through an alt by the time you add up the fee to trade back to BTC and the potential difference in price then it may well cost you considerably more than paying the original fee.

This reminds me of a guy I knew who used to drive 10 extra miles to save 3 pence on a litre of fuel, and he only ever bought 4-5 litres. When I pointed out he burnt more fuel than he was saving it was like witnessing the discovery of fire as it very, very slowly dawned on him.