Post
Topic
Board Bitcoin Discussion
Re: BitCoin and bitcoin high transaction fees
by
amishmanish
on 03/10/2020, 10:20:07 UTC
You are probably paying around 1.7$ fees for each transaction. Mate, Believe me  UPI is giving you the most luxurious transaction fees. UPI is saving how many rupees you don't know about it. We usually pay (6-7)$ per transaction fees through exchanges or crypto wallets. I think i need to choose UPI payment system. Just give me the link. Cheers.
You will not find a UPI payment option for transferring bitcoin. Some exchanges will now allow you to buy BTC using INR and pay through UPI. Yet, when you want to make a pure BTC transaction out of these centralized wallets like Zebpay, WazirX etc, the fees will depend on their own whims. If you store crypto on your own desktop wallet like Electrum then you can choose to go as low as you want depending on how quickly you want the transaction confirmation. I suggest paying a one time fees to transfer from these wallets to your own desktop wallet. If you use the exchange wallet for every transaction (for IEOs, staking, changelly, purse.io, forum transfers etc), the fees will be exorbitant.

Jermoe Tash also highlighted a great example as to where the BTC transactions really shine. If you use centralized wallets and exchanges, they will of course charge the standard fees for even smaller amounts.