Home
News
- Bitcoin transfers between exchanges are very costly, as they charge almost 13% as fees.
- Bitcoin cash lowers the above-mentioned exchange fees to a remarkable, almost negligible rate.
Be it the all too simple fiat currency or the currently trending cryptocurrency, no matter in whichever form you consider it, none can deny the fact that money is acquired to be spent. Even the money stored in the savings account is accumulated in the hopes of spending later. We are not here to explain to you the human philosophy of saving & spending money. We are talking about how you usually move your crypto funds between exchanges and how this article can help you do that more simply while spending the least possible amount on the exchange fees.
The Cryptocurrency Setback
In the crypto-based world, it is often seen that a variety of coins are available on a different exchange than where the funds to buy them are available. Funds almost always enter via a centralized exchange, and so the simplest way to acquire the coins not available on the same exchange as the funds is to sign up with multiple exchanges and deposit more funds to buy the new coins. However, it’s only simple to transition from 100% money in banks. But what after you are out of more assets you want to move? Easy, transfer BTC between exchanges.…. You are only okay with paying 13% of the amount as tax to send your own money to yourself. Because this is where you encounter the exchange fees. To transfer $15 of Bitcoin, you need to pay almost $2 fees.
The Miracle Pocket-Saver: Bitcoin Cash
Now, what to do to avoid running out of coins by paying fees in exchange? We got you! The answer is Bitcoin Cash (BCH). To send $15 using BCH costs about 0.00000226, roughly $0.001.
The other greatest advantage of Bitcoin Cash is that it’s available everywhere. Presently, it’s the 11th largest coin by market cap. So, you can efficiently convert or trade any currency on any exchange to BCH and send it to any other exchange where it can then be converted or traded for another currency.
Bottom Line
We can assure you that Bitcoin Cash gets the job of fund transfers done at a meager exchange fee. This aspect of BCH helps make the task of moving funds between exchanges remarkably easier and light on cost, which improves the accessibility to many cryptocurrencies. BCH shows great potential for future developments.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
