Post
Topic
Board Service Discussion (Altcoins)
Re: You can lose transfering and withdrawing
by
Enzo05
on 31/01/2021, 13:19:49 UTC
You can lose profit sending trading and withdrawing if you are trading a small amount I have $50 worth of Ferum or FRM it will take $6 to send the whole amount to Bilaxy and after you trade it to Eth and wants to withdraw it you will have to spend $12 to withdraw your Eth,
now that's $18 gas fees for your $50, my only option is to trade it to other altcoins like DGB or Litecoin which offer $4 to $5 fee you still going to lose $11, that's over 20%.
At this moment ethereum gas fee is too high right now this is one of the biggest problems that users are facing. I intend to ignore eth blockchain due to its unreasonable gas fee so the only way to get a small fee for withdrawing your funds on an exchange is to exchange it for coins that are known for cheap transaction fees, like wave, doge, trx, xlm, and xrp this coins are most used coin if you want to escape a high withdrawal fee😁