Why are Bitcoin transaction fees so variable? Binance ...

So I’m using binance and want to transfer my btc to my ledger Wallet (native segwit) to reduce transaction fees but it says address does not match currently selected primary network (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

@binance: RT @binance: 💰 $1,000 #Bitcoin giveaway 💰 Get 50% off all transaction fees when buying crypto with Visa & MasterCard on #Binance right now! #Giveaway rules: 🔸10 people that buy crypto with their card in the next 2 days win $50 🔸10 people that retweet this tweet win $50 Go! 👇

@binance: RT @binance: 💰 $1,000 #Bitcoin giveaway 💰 Get 50% off all transaction fees when buying crypto with Visa & MasterCard on #Binance right now! #Giveaway rules: 🔸10 people that buy crypto with their card in the next 2 days win $50 🔸10 people that retweet this tweet win $50 Go! 👇 submitted by rulesforrebels to BinanceTrading [link] [comments]

@binance: RT @binance: 💰 $1,000 #Bitcoin giveaway 💰 Get 50% off all transaction fees when buying crypto with Visa & MasterCard on #Binance right now! #Giveaway rules: 🔸10 people that buy crypto with their card in the next 2 days win $50 🔸10 people that retweet this tweet win $50 Go! 👇

@binance: RT @binance: 💰 $1,000 #Bitcoin giveaway 💰 Get 50% off all transaction fees when buying crypto with Visa & MasterCard on #Binance right now! #Giveaway rules: 🔸10 people that buy crypto with their card in the next 2 days win $50 🔸10 people that retweet this tweet win $50 Go! 👇 submitted by rulesforrebels to BinanceTrading [link] [comments]

@binance: 💰 $1,000 #Bitcoin giveaway 💰 Get 50% off all transaction fees when buying crypto with Visa & MasterCard on #Binance right now! #Giveaway rules: 🔸10 people that buy crypto with their card in the next 2 days win $50 🔸10 people that retweet this tweet win $50 Go! 👇

@binance: 💰 $1,000 #Bitcoin giveaway 💰 Get 50% off all transaction fees when buying crypto with Visa & MasterCard on #Binance right now! #Giveaway rules: 🔸10 people that buy crypto with their card in the next 2 days win $50 🔸10 people that retweet this tweet win $50 Go! 👇 submitted by rulesforrebels to BinanceTrading [link] [comments]

Binance DEX (decentralized exchange) could kill the dominance of Bitcoin BTC, since all transactions are done on-chain. This will expose the flaw in BTC's small block size limit, and cause BTC transaction fees to skyrocket.

Demo for Binance DEX (decentralized exchange):
Currently, everyone holds Bitcoin BTC as their reserve trading currency.
That's because:
  1. BTC has legacy status as the default trading pair.
  2. Trading costs at traditional crypto exchanges are the same, regardless of cryptocurrency. Ex: Binance trading fee is 0.1%, regardless of coin. That's because transactions are done off-chain.
But we've all known the flaw in traditional crypto exchanges: if the exchange collapses or disappears, you lose all your coins, since you don't have any seed words or private keys.
With a DEX, you hold your seed words & private keys. If the exchange collapses or disappears, you should still be able to access your coins on the respective blockchains.
If DEX exchanges take off, that could be a fatal blow to Bitcoin BTC's legacy status as a reserve trading currency.
That's because:
  1. Bitcoin BTC's on-chain transaction costs are 20-200 times more expensive than for other cryptocurrencies (like BCH, LTC, DASH).
  2. Bitcoin BTC has a small block size limit, and can't scale on-chain, so as DEX trading volume increases, Bitcoin BTC's mempool & transaction costs will skyrocket, making it unusable.
RESULT: If decentralized exchanges - like Binance DEX - become popular, Bitcoin BTC on-chain transaction fees will become ridiculously expensive, and people will start looking for a new default cryptocurrency to hold / trade / spend. It will be the end of Bitcoin BTC dominance.
submitted by normal_rc to CryptoCurrency [link] [comments]

Binance DEX (decentralized exchange) could kill the dominance of Bitcoin BTC, since all transactions are done on-chain, where Bitcoin BTC transaction fees are 20-200 times more expensive than Bitcoin Cash BCH transaction fees.

Demo for Binance DEX (decentralized exchange):
Currently, everyone holds Bitcoin BTC as their reserve trading currency.
That's because:
  1. BTC has legacy status as the default trading pair.
  2. Trading costs at traditional crypto exchanges are the same, regardless of cryptocurrency. Ex: Binance trading fee is 0.1%, regardless of coin. That's because transactions are done off-chain.
But we've all known the flaw in traditional crypto exchanges: if the exchange collapses or disappears, you lose all your coins, since you don't have any seed words or private keys.
With a DEX, you hold your seed words & private keys. If the exchange collapses or disappears, you should still be able to access your coins on the respective blockchains.
If DEX exchanges take off, that could be a fatal blow to Bitcoin BTC's legacy status as a reserve trading currency.
That's because:
  1. Bitcoin BTC's on-chain transaction costs are 20-200 times more expensive than Bitcoin Cash BCH's transaction costs.
  2. Bitcoin BTC has a small block size limit, and can't scale on-chain, so as DEX trading volume increases, Bitcoin BTC's mempool & transaction costs will skyrocket, making it unusable.
I know we have issues with Binance (ticker symbols & no CashAddr support). But there's a good chance that Binance DEX could show the world the huge flaws in Bitcoin BTC's small block size limit.
And when people are looking for a new default currency to hold / trade / spend, BCH will have an advantage since BTC & BCH are the only 2 coins with widespread retail support (supported by Bitpay the #1 payment processor).
submitted by normal_rc to btc [link] [comments]

#crypto #cryptonews #bitcoin @nocroom #Binance Earns More Than $20,000 per Day Overcharging on Transaction Fees

#crypto #cryptonews #bitcoin @nocroom #Binance Earns More Than $20,000 per Day Overcharging on Transaction Fees submitted by PooPoster1 to Cryptoandme [link] [comments]

Binance, Kraken, and Nanex exchanges announce reduction in Bitcoin transaction fees due to SegWit

Binance, Kraken, and Nanex exchanges announce reduction in Bitcoin transaction fees due to SegWit submitted by Dannage888 to CryptoCurrency [link] [comments]

Binance Moves $1.26 Billion in Bitcoin (BTC) – Two Transactions Sent in Minutes for Just $124 in Network Fees

Binance Moves $1.26 Billion in Bitcoin (BTC) – Two Transactions Sent in Minutes for Just $124 in Network Fees submitted by scgco to GGCrypto [link] [comments]

@cz_binance: RT @kerooke: Daily Bitcoin transactions just broke an all-time high in April, and tx fees were 86% lower this time around. Dec 2017 TXs: 360k/day TX fees: 616 BTC/day Apr 2019 TXs: 366k/day TX fees: 89 BTC/day https://t.co/OES3mEZZuh

submitted by rulesforrebels to BinanceTrading [link] [comments]

Binance DEX (decentralized exchange) could kill the dominance of Bitcoin BTC, since all transactions are done on-chain, where Bitcoin BTC transaction fees are 20-200 times more expensive than Bitcoin Cash BCH transaction fees.

submitted by unitedstatian to BinanceExchange [link] [comments]

Binance DEX (decentralized exchange) could kill the dominance of Bitcoin BTC, since all transactions are done on-chain, where Bitcoin BTC transaction fees are 20-200 times more expensive than Bitcoin Cash BCH transaction fees. /r/btc

Binance DEX (decentralized exchange) could kill the dominance of Bitcoin BTC, since all transactions are done on-chain, where Bitcoin BTC transaction fees are 20-200 times more expensive than Bitcoin Cash BCH transaction fees. /btc submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Binance DEX (decentralized exchange) could kill the dominance of Bitcoin BTC, since all transactions are done on-chain. This will expose the flaw in BTC's small block size limit, and cause BTC transaction fees to skyrocket.

Binance DEX (decentralized exchange) could kill the dominance of Bitcoin BTC, since all transactions are done on-chain. This will expose the flaw in BTC's small block size limit, and cause BTC transaction fees to skyrocket. submitted by scgco to GGCrypto [link] [comments]

Kucoin is a new exchange similar to Binance. Rewards users with the transaction fees from the platform. https://www.kucoin.com/#/signup?r=E310YY /r/Bitcoin

Kucoin is a new exchange similar to Binance. Rewards users with the transaction fees from the platform. https://www.kucoin.com/#/signup?r=E310YY /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

I just sent $150 of bitcoin from Coinbase to my Binance Wallet and received $100 worth in my wallet. Are you telling me the transaction fee is 50 fucking dollars? /r/Bitcoin

I just sent $150 of bitcoin from Coinbase to my Binance Wallet and received $100 worth in my wallet. Are you telling me the transaction fee is 50 fucking dollars? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] When I use binance to swap Bitcoin for other currencies, do I pay the Bitcoin transaction fee?

The following post by life-of-TT is being replicated because the post has been silently greylisted.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7n6pga
The original post's content was as follows:
[removed]
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Coinbase charged me a 14 dollar transaction network fee to send five dollars worth of bitcoin to binance... /r/BitcoinBeginners

Coinbase charged me a 14 dollar transaction network fee to send five dollars worth of bitcoin to binance... /BitcoinBeginners submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Which is cheaper for me to buy/sell/deposit/withdrawal btc? binance, coinbase pro, binance jersey

submitted by Vergo27 to Bitcoin [link] [comments]

Withdrawl fee for btc on binance at 5,50$ - Why so high?

Unless I use BEP2 or BEP20 network, which I don't know.
Why is the fee so high?
submitted by nick-bravo to Bitcoin [link] [comments]

In Nigeria, crypto is saving us from extractive Central Banking policies

I think most of you already know this, but Crypto has really been a life saver for Middle class Nigerians, especially us that have to deal with a central bank that has made sourcing dollars hard to find because Crude Oil has wrecked us and they refuse to open up the economy..

this Reuters article best explains it:
"
Odunjo sources handsets and accessories from China and the United Arab Emirates. His Chinese suppliers asked to be paid in the cryptocurrency, he said, for speed and convenience.
The shift has boosted his profits, as he no longer has to buy dollars using the Nigerian naira or shell out fees to money-transfer firms. It is also one example of how, in Africa, bitcoin - the original and biggest cryptocurrency - is finding the practical use that it has largely failed to elsewhere.
“Bitcoin helped to protect my business against the currency devaluation, and enabled me to grow at the same time,” Odunjo told Reuters from his two-by-eight metre shop.
“You don’t have to pay charges, you don’t have to buy dollars,” the 30-year-old said, raising his voice above the sound of loud haggling and the honking horns of scooters.
Odunjo is one of many people at the heart of a quiet bitcoin boom in Africa, driven by payments from small businesses as well as remittances sent home from migrant workers, according to data shared exclusively with Reuters and interviews with around 20 bitcoin users and five cryptocurrency exchanges.
Monthly cryptocurrency transfers to and from Africa of under $10,000 - typically made by individuals and small businesses - jumped more than 55% in a year to reach $316 million in June, the data from U.S. blockchain research firm Chainalysis shows."
https://www.reuters.com/article/us-crypto-currencies-africa-insight/how-bitcoin-met-the-real-world-in-africa-idUSKBN25Z0Q8

we save in tether and do business in bitcoin, Cuts of extractive policies that would have left us at the mercy of the central bank 10 years ago..
submitted by Zilllnaijaboy99 to CryptoCurrency [link] [comments]

Concerns about Nano's position when Bitcoin fees begin to sky rocket

So, I have been told that one if the best ways Nano will get adoption and visibility is when Bitcoins fees start to creep back to $50 average or even higher and show an ineffective transaction network. People will then start to look into cheaper and faster networks and Nano will be high on that list.
However, I dont know if it will be that easy. My two big concerns are exchanges and search results.
1) Most new comers to crypto will use exchanges like Coinbase or Paypal. When they see issues with Bitcoin their first place to look for another coin will be those same exchanges and therefore they will find coins like BCH, Ripple, Stellar, Ehtereum, Litecoin, ect which will all have lower fees and times than Bitcoin. Buying Nano on Kraken or Binance.Us is not easiest experience for a new comer and the volume there is not great either.
2) If someone actually looks for a better coin using google they will only find Nano if the google "feeless cryptocurrency," for this search Nano is in the top results. However, if they google "fast cryptocurrency" or "cheap to send crypto" they got a bunch of results that don't refer to Nano
submitted by revanyo to nanocurrency [link] [comments]

Best Exchange for Eu/Germany

Hi, as the title says, I'd like to know what you consider the best option today. I tried bitcoin.de before, but since the linked fidor bank account costs a monthy fee, its very pricey (SEPA sellers having higher prices). I've heard good things about eToro about a year ago, and ofc you have the giants like Kraken or Binance...I just need an honest recommendation because google is full of fake review advertisement pages. Thanks!
submitted by nyetanotherthrowaway to Bitcoin [link] [comments]

How to avoid commission, transaction fees and how to deposit to Binance How Much are Cash App Bitcoin Fees? - YouTube Deposting Bitcoin to Your Binance Wallet Address Bitcoin Btc Binance Cryptocurrency Transaction Fees + Times Explained How To Buy Bitcoin Without ANY Coinbase Fees - Bittrex vs Gdax vs Binance How to Buy Bitcoin with Credit Card / Debit Card on ... Bitcoin transaction fees EXPLAINED! Why are they so high ... Bitcoin transactions and transaction fees - Simplified Transfer Crypto Assets From Binance to Ledger - YouTube

Bitcoin Transaction Fees Fall 91%, Back to Pre-Halving Levels Fluctuations in transaction fees have not necessarily correlated with price movements on the Bitcoin network. Rachel McIntosh News (CryptoCurrency ) Monday, 15/06/2020 08:23 GMT+2 2020-06-15T06:23:06+00:00 2020-06-15T06:23:06+00:00. Photo: FM . Share this article. Finance Magnates Telegram Channel; The average fee for a ... Sometimes when I send my BTC, the fee is around $0.05 USD worth, but other times it can be greater than $5 worth of BTC. It seems rather poor for the user Fee Schedules for Trading on the Binance.US. Trading Fee. General: 0.1% spot trading fee; 0.5% Instant Buy/Sell fee. By default, if you hold BNB in your account, your trading fees will be automatically deducted from your BNB balance. Bitcoin average transaction fees dropped by nearly 60% in the last week, as the number of transactions queuing up to be processed on the network eased.According to data from Bitinfocharts, the ... How Transaction Fees Work. A transaction (tx) fee is a small amount of bitcoin included in a transaction that rewards miners for validating a payment, which results in confirmation on the ... Binance currently offers a 50% discount on transaction fees, though the catch is you have to have enough of their digital coin — aptly named Binance Coin (BNB) — stored in your account to cover any fees. Basically, if you have enough BNB in your wallet, Binance will automatically shave 50% off their 0.1% fee on any trades you make, making it 0.05%. The fee will then be deducted off your ... Deposit Fees. Free. There are no fees for deposits. Trading Fees. If you are not using BNB (Binance Coin) to pay your trading fees, each trade will carry a standard fee of 0.1%. Using BNB for transaction fees applies a discount to your trading fee. By default, if you hold BNB in your account, your trading fees will be automatically subtracted ...

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How to avoid commission, transaction fees and how to deposit to Binance

Coinbase.comm charges fees for every transaction whether you're purchasing Bitcoin, Ethereum, Litecoin, Bitcoin Cash, or any other currency they add in the future. Coinbase also charges when you ... Bitcoin transactions and transaction fees - Simplified Andrew Vecsey. Loading... Unsubscribe from Andrew Vecsey? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 238. Loading ... https://www.binance.com/en/register?r... ref link or ref number 12327366 future 125x %10 kickback commission. bitcoin and 200+ altcoin. using bnb to pay for fees %25 ... How Much are Cash App Bitcoin Fees? Exact Amount - Cash App Bitcoin Fees Explained 💸 Get Cash App ($5 FREE): http://cash.me/app/LWJTDBF 💸 Cash App Playlist: ... If you enjoyed the video, please like and subscribe. Any questions? Feel free to leave them down in the comments below! Binance link: https://www.binance.com... In this video: Deposting Bitcoin to Your Binance Wallet Address. We go step by step and deposit Bitcoin to Binance Wallet Address. How to fund binance account. 👇🏻Support the channel by using my affiliate links below👇🏻 Exchanges I'm using: Coinbase FIAT https://www.coinbase.com/join/59398125002bcc03276297d6 Bin... Get a lifetime 10% fee discount when trading crypto on Binance: https://www.binance.com/en/register?ref=FOC8JZJ8 How to Buy Bitcoin with Credit Card / Debit ... Today, we take a closer look at how you can move your crypto assets from your Binance account to your Ledger Live account. Read more about it in this article... This tutorial takes you through understanding how transaction fees come about, why some are cheaper than others. Also more importantly how you: 1. Can track your own transactions 2. How you can ...

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