Post
Topic
Board Altcoin Discussion
Re: The cheapest way to exchange ETH Tokens for Bitcoin ?
by
enhu
on 21/09/2021, 00:34:04 UTC
What is the cheapest way to exchange tokens (ETH/BSC/POLYGON) for Bitcoin?
(1) P2P, preferably your friend. You can hand him your private key, and he can give you his private key (barter). However, there will be problems if one side or both store backups. It's the cheapest, but not feasible in most cases.

(2) The 2nd cheapest for small amount is to use instant exchange such as changenow, changelly, etc., but it has a bad reputation on this forum.
(3) The 3rd cheapest is to use centralized exchange the likes of Binance et al.

For (2) & (3) you do it when the gas price is low.
Your chances are very low to exchange tokens for Bitcoin. The third one is the best options: " centralize exchange". But now Bitcoin investment isn't profitable. Why does someone want to exchange tokens for Bitcoin? We have one option if our tokens are ERC-20. It doesn't cost us the same 24 hours as you can see. GWEI is always changing if you check gas prices.

Bitcoin is actaully her best option. It's the best performing asset. It's the centralized exchanges that are all he needs.

The withdrawal fee of BTC is higher in the exchanges but there are exchanges that only need 0.0005 for withdrawal of BTC, a bit high is you only have a few. But OP said he has plenty of it. What is 0.0005BTC for him. Kraken and bittrex has low withdrawal fees. 0.00015 BTC I think.