Post
Topic
Board Altcoin Discussion
Re: btc alternatives to use when withdrawing from the exchange
by
jrrsparkles
on 23/09/2022, 11:09:02 UTC
I have seen several videos that recommend not to use a stablecoin when withdrawing from exchanges because of the commissions. In one video it was recommended to use litecoin and in the other video they recommended algorand.... Do you think these 2 coins are the best options to use when withdrawing?

Is it good to take the risk? I once withdrew using litecoin and the transfer from an exchange took 30 minutes...in that time you can't put a stop loss so if there is a market crash I would lose a lot of money....

I also tried to withdraw less than $10 on bybit and binance and the exchanges would not allow me to withdraw...I think I saw a video a while back where they recommended withdrawing $1 first to test (to make sure I choose the right network etc). The other day I tried to withdraw 4 dollars with bybit and binance and I got the message: the withdrawal is less than the minimum allowed.


First you need to make sure why you're looking for an alternative for Bitcoin, if it is about reducing the withdrawal fee then stable coin or Litecoin or just any popular coin with high liquidity can do the job.

The risk of losing the value while withdrawal is unavoidable so you need to take the risk or go with stable coins and then withdraw the Fiat into your bank account.

Every exchange has lowest withdrawal limit and even the limit varies from one to another so I feel $10 is good enough to be the minimum withdrawal amount considering the withdrawal fee which mostly exceed $20.