Eliminate Almost All Exchange Fees – Swapping Crypto Using XLM
Want To Save Money Exchanging Coins?
XLM is almost perfect for moving between exchanges, here’s why…
You may be able to save yourself hundreds of dollars in fees if you apply this strategy.
It’s especially useful if you’re constantly moving around smaller amounts between exchanges and you’re a frequent buyer of smaller cap coins from exchanges like KUcoin.
Numbers Change – Stay Flexible!
As soon as I type this exchange rates and coin values are going to change so you have to be flexible.
The underlying principle is sound, the numbers will surely fluxuate.
Here’s Why. Some Math(s)
The current minimum on Binance for withdrawal for BTC is currently 0.001 which is $56.
Every transaction comes at a cost of 0.0005 BTC which is $28, meaning if you’re looking to withdraw around $280 you’re already around 10% down.
Over time, if you’re frequently looking to buy smaller coins not listed on major exchanges, this really starts to add up.
Similarly, with Eth, the minimum withdrawal amount is 0.016 which is about $63 with a fee of 0.005 on every transaction which is around $21 every transaction.
If you are looking to withdraw $280 there you’re down around 8%.
The Trick
Looking at XLM, the minimum withdrawal amount is 40 which is about $22 at the current prices.
What really stands out though is the transaction fee, you’re looking at an 0.02 fee every time which is less than $0.01!
The great thing about XLM is that it’s also available on the vast majority of exchanges, so converting it back after is super easy.
There are other coins that work with the tiny fees, but in terms of availability, they aren’t always listed across exchanges.
XLM may be the perfect middle ground!
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