-
Bitcoin fee quandary
Some time ago I bought items with bitcoin, first buying the bitcoin from a Digitalmint machine. When it transferred to my wallet (Mycellium) I was taken aback with what seemed like almost $50 in fees were taken from it (I put in $360 into the machine, and $316 ended up in my wallet).
Does this seem right, when using a bitcoin atm? I'm new at bitcoin and I realize this is the "thing" now, so what is the best way to do transactions with it to avoid such fees? Avoid the atm machines?
-
Post Thanks / Like - 1 Thanks, 1 Likes, 0 Dislikes
----
-
Originally Posted by
metromuscle
Some time ago I bought items with bitcoin, first buying the bitcoin from a Digitalmint machine. When it transferred to my wallet (Mycellium) I was taken aback with what seemed like almost $50 in fees were taken from it (I put in $360 into the machine, and $316 ended up in my wallet).
Does this seem right, when using a bitcoin atm? I'm new at bitcoin and I realize this is the "thing" now, so what is the best way to do transactions with it to avoid such fees? Avoid the atm machines?
That isn’t too bad. I bought 400 and ended up with 315. Bought 1K and ended up with less than 800. Not real impressed with the current situation.
Never Stop Growing
-
Post Thanks / Like - 3 Thanks, 2 Likes, 0 Dislikes
----
-
I believe you guys need to look around some . I think normal rate is like 10% or so .
-
Post Thanks / Like - 2 Thanks, 2 Likes, 0 Dislikes
----
-
Originally Posted by
Jaxz
I believe you guys need to look around some . I think normal rate is like 10% or so .
Yeah that's what I figured since I'm new at this Bitcoin shit, realizing this is how it is now. Perhaps using the machines there is a higher service fee. I tried three Coin cloud machines and all three were broke down so then I tried a Digital Mint one, which was similar and not difficult at all.
----
-
Originally Posted by
Jaxz
I believe you guys need to look around some . I think normal rate is like 10% or so .
I haven’t bought any since then. I was pretty mad.
Never Stop Growing
-
Post Thanks / Like - 0 Thanks, 1 Likes, 0 Dislikes
----
-
Originally Posted by
MarvelNerd
I haven’t bought any since then. I was pretty mad.
Never Stop Growing
Yeah, how you got stuck with those kind of fees is totally inexcusable
----
-
----
-
Originally Posted by
Razorbak
Digital Mint??
Yeah it was a "Digital Mint" bitcoin machine in a currency exchange. The process was very easy I have to say. I originally have used Coin cloud machines which worked good, but I couldnt find an operating one in my area so I gave up with them.
-
Post Thanks / Like - 1 Thanks, 0 Likes, 0 Dislikes
----
-
There's a app I can't remember what it is that will show u all bitcoin in area. Pretty sure it will tell u the rate also.
Last edited by Jaxz; 01-05-2023 at 02:36 PM.
-
Post Thanks / Like - 2 Thanks, 2 Likes, 0 Dislikes
----
-
Originally Posted by
Jaxz
There's a app I can't remember what it is that will show u all bitcoin in area. Pretty sure it will tell u the rate also.
Appreciate the information. I will check into this for sure.
Never Stop Growing
----
metromuscle liked this post
Razorbak thanked for this post
Reply With Quote
Bookmarks