Post
Topic
Board Bitcoin Discussion
Merits 3 from 2 users
Re: Is it cheaper to send Bitcoin or Ethereum directly?
by
hosseinimr93
on 05/11/2022, 22:28:06 UTC
⭐ Merited by pooya87 (2) ,Stalker22 (1)
Then why are all the sites showing Bitcoin costs $1-$3 to send. Cashapp for example hovers around $2 to get a 10 minute transaction, or $1 for a 2 hour transaction. Coinbase is a bit cheaper usually hovering around $1
That's because they charge you extra fee.
When you withdraw bitcoin from a custodial service like coinbase, you have to pay the fee to the service instead of paying miners directly. Custodial services usually charge you more than the fee they pay to miners.
If you use a non-custodial wallet, you can make the transactions with much lower fees.