Everytime we switch crypto to ledger or different {hardware} wallets, it’s fairly a charge that we’ve to pay. Wish to make sure that there aren’t methods to bypass it that I’m unaware of? Do all of us pay that? It hurts to see it get deducted each time we switch crypto esp. fairly excessive for BTC?
> it’s quite a fee that we have to pay
To whom are you paying this fee?
> Want to make sure there aren’t ways to circumvent it that I am unaware of?
Definitely. But you forgot to tell us how much you’re paying, and to whom
> Do all of us pay that?
Only you
Strike has 0 withdrawal fee. They don’t even charge a network fee
If you’re buying $10 per week maybe lump your transactions. Every 2 months hit withdrawal or something to save on fees. Yeah there’s some trade offs
How much do you consider a lot? It’s usually negligible for me. Like a couple dimes.
I buy a few $k worth a month, and the tx fees are the least of my concern…
Not that execution fees are particularly high, but tx fees are a fraction of trade spreads / haircuts / taker fees.
Getting off exchange to cold storage is priceless. In many cases, that isn’t metaphorical…
funny that u can set the transaction fee to any amount u want
Withdrawal fees are different for different exchanges. I use Kraken and the withdrawal fee is either 0.00001 BTC on-chain or completely free over Lightning Network with a limit of 0.25 BTC per withdrawal.
Whatever exchange you are using is ripping you off. It’s pennies to transfer. Use someone else if you don’t like giving away money for nothing.
Actually quite interesting how OP confuses CEX costs (insanely high also for example on Binance) with the actual costs on the blockchain.
We need to educate people on this.