What are some tips for reducing fees when sending money through cryptocurrency platforms?

3 answers

• Dec 16, 2021 · 3 years ago
  One tip for reducing fees when sending money through cryptocurrency platforms is to choose the right platform. Some platforms charge lower fees compared to others. Do some research and compare the fee structures of different platforms before making a decision. Additionally, consider using platforms that offer fee discounts or promotions for certain types of transactions or for using specific cryptocurrencies.
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• Dec 16, 2021 · 3 years ago
  Another way to reduce fees is to optimize your transaction. Cryptocurrency fees are often based on the size of the transaction in bytes, so try to consolidate multiple small transactions into a single larger transaction. This can help minimize the fees associated with each individual transaction. Additionally, consider using cryptocurrency wallets that allow you to set custom transaction fees. By setting a lower fee, you may experience a slightly longer transaction confirmation time, but you can save on fees.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we understand the importance of reducing fees when sending money through cryptocurrency platforms. One strategy we recommend is to take advantage of off-peak hours. During busy periods, transaction fees may be higher due to increased network congestion. By waiting for less busy times, you may be able to send your money with lower fees. Additionally, consider using cryptocurrencies with lower transaction fees, such as Ethereum or Binance Coin, instead of Bitcoin, which tends to have higher fees.
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