Post
Topic
Board Beginners & Help
Re: Input from community on transfer fees
by
MNster
on 26/05/2024, 02:46:00 UTC

P2P is the best way if you want to avoid paying huge withdrawal fee especially when the amount you are trying to withdraw is small.

https://kycnot.me/ is place where you can find all the available options to convert fiat to crypto or vice versa and crypto to crypto without going through any KYC process. You may have to pay higher fee than the market fee depends on which fiat that you are using to buy crypto.

I don’t think P2P can help here, OP is trying to move funds from a centralized exchange to his custodial wallet. If he does P2P on an exchange he might still need to pay transaction fee for the bitcoin to be moved to his wallet. The reason why OP seeks a decentralized exchange is because there transfer charges of withdrawal charges are usually small compared to the centralized exchanges. OP should simply use exchanges that charges lower and move his funds out of the exchange.

With this amount of the transaction fee, you don't have to complain but if your transaction fee is higher than this then you have only done few transactions in the wallet.

I don’t understand this better but I think you might have misunderstood the question here, OP is seeking a lower withdrawal charge exchange at the moment. Transaction fee on exchanges do not in anyway havd to do how many transactions you have made, they fix a withdrawal charges using some criterias and that’s all


This!
(thanks tho to everyone who left their thoughts and/or advice anyway, a lot of good points were made, and I now have a lot to consider moving forward.)

As far as UTXOs go, that's a paradigm I don't quite understand yet.
I thought I was doing a good thing by buying Sats whenever I got paid, but now some are telling me that is a bad thing.  This is worrisome. 
And 'Consolidating Inputs' ...I have no idea what that is.
I guess I truly am a newbie when it comes to BTC  *facepalm*