Hi,
I'm interested in buying online stuff and they provides BTC option (cheaper than paypal).
Any suggestion in getting a cost effective way to transfer BTC to them?
I currently have binance, but oh my… their transfer fee is not as good.
Binance would charge transfer fee of 0.00024 BTC (which equates to AU$20).
Thanks
cause most people don't understand BTC and keep their coins on exchanges, devaluing it like the dollar is
as I only need it once-off, do I really need to have hardware wallet? can I store it in soft wallet (if there is such thing)?
Also, does it mean I buy BTC using Binance and have it stored to that wallet (without getting 'withdrawal' fee from them?)
Kindly provide me a bit of insight about this, thanks
Update: I just created a new local wallet with electrum; I suspect, now I just need to instruct binance to transfer it to my electrum wallet?
That's correct - you can transfer it from Binance to Electrum, I believe there's a "Withdraw" function in Binance.
Thanks, the only downside for me now is, Binance is charging AU$20 'withdraw' fee… what a bummer… wanted to save money with BTC, turns out to be more fees than paypal…
@BigLeviathan: Yes i have to say, the fees can be a bit ridiculous. Sometimes you can send via cheaper methods but this can takes ages for the money to appear at the destination, which can be anxiety inducing.
If you don't already have btc, in a wallet, whatever savings over using PayPal will be eaten up buy on chain or exchange transaction fees in the buy/send process
from my experience right now, you're right; Binance seems costing me AU$20 to 'withdraw' the BTC; might as well use paypal… ah well….
Thank you
about only way going to make decent money from bitcoin is this…
Victorian man vanishes after receiving about $500,000 in cryptocurrency account error
lol… isn't this the same when you found the bank accidentally gives you extra money (due to system error) - you need to return it to the bank…
Why don't you put the BTC in your hardware wallet and pay the merchant directly?