Post
Topic
Board Nigeria (Naija)
Re: A method i use in avoiding high Bitcoin transaction fees.
by
AVE5
on 16/06/2024, 06:45:45 UTC
Are you trying to tell us to store our funds(Bitcoins) on exchanges? Because that's the only way I know you can convert Bitcoin to usdt. Except you want to use multi coin wallets like trust which I still see as unsafe and not reliable. Yes the transaction fees is a very terrible thing at the moment but we shouldn't let a short time issue create for us a long time wound( something we will remember for ever).
Don't store your Bitcoins on exchanges. If at all, not all of them. You can just keep a small amount of funds there just Incase of emergency especially in times when fees are very high. Its a method that might save you fees but you may end up losing your funds through such method.

The exchange isn't a safe place to store bitcoin as a asset value unless we're ready to make a immediate trade because Investors are not in full control of their Privacies and securities unlike self custodial wallets.
Even having the pretty little fund for emergency used in there of an exchange is still risky because scammers are also ready to still a peanut if they can't get cake but the truth always remains, sometimes we'd want to make urgent transactions for emergency used and having some amount of funds in the exchange would fascinate on a quick execution and then save us the risks of loosing everything if we have all stored in the exchange just as have said @Hatchy