Update $113.00 more in hand using an exchange.
That compared to $253 loss plus fees on Blocktrades.
If I had traded my liquid Steem balance via Blocktrades, it would have cost $253.00 plus fees, and I would have been done in minutes. I chose the slow, patient way and got $113.00 more in my pocket.
I sent the same 2933 Steem to a thieving underhanded exchange. I don't like exchanges. I put it up for sale, sold it all into bitcions, then sold the bitcoins for dash with each trade having a small fee. Then I sent three transfers of dash to my wallet over the course of three days due to limits. Each transfer had a small fee. and I still made money compared to the integrated Steem exchange called Blocktrades.
My dash is arriving and I have the total cost comparison.
Time is money
it is true what they say about time being money. It is also true that patience is a virtue, and I used a bit of patience, taking several days to change my Steem into dash coins.
Using the same values at the time of my last post: Steem @ $1.45 and Dash @ $2.53
Blocktrades:
2933 Steem ($4253.00) goes in and 15.8 dash ($4000.00) comes out = $253.00 plus fees.
or
Crypto Exchange
2933 Steem ($4253.00) goes in and 16.25 dash ($4113.00) comes out = $139.00.00 including fees.
Savings = $113.00
But in reality, I had sent the Steem to the exchange and sold it over a couple of days, waiting for higher prices, then bought Dash with orders that were awaiting lower prices.
Truth is, I got .45 more dash that I would have on the day of last the last post.
I got $113.00 dollars more than I would have.
ahah good information!, is to think before acting.
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You have made a smart move! Your experience will surely help us to avoid those fees.
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Blocktrades often cost much fees. They should reduce some fees. After all crypto exchange is better for saving money. Sir @bytzz which wallet you are using to hold your dash or other crypto?
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Coinomi
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Thank you sir.
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Really man. That's smart bussiness.
Does that mean blocktrades is charging us a lot of fees for transactions?
What's the fun of exchange through blocktrades then ?
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It is not the fees but rather the false quoting of prices. They give you less than they should for the coin you are selling. Then they charge you a higher than market value for the coin you are receiving.
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Thanks, my best friend, thank you so much for giving you such a nice new post so much thank you so much your posts are so beautiful that you can post very beautifully from your post.
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Hmm! Smart and wise thinking. Very glad you split this for us, sir. Thank you!
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Wow!
I dont have much steem. Should i try it with lower amount of steem?
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Not on blocktrades.
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but still you have paid 153 $ fee, and that is a big amount sir,
upvoted and resteemed
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Great calculation and effective experience @bytzz
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Great experience...
By using crypto exchange you saved $113 . Your sharing experience will be helpful for us
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You are more than clever mate and that's a good thing.
Thanks for sharing your experience
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Block trade just sucks.
Don't you know about the steem market? you can also trade steem there for sbd.
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Welcome back sir after a long time. we miss you sir. keep coming everyday
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For exchanging 2933 Steem ($4253.00) need $253+ fees .....Thats huge and not profitable...Its loss exchanger......
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Excellent decision @bytzz, you are a man of good calculation
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The experience led you to have a good calculation @bytzz
you're thinking before making any decision and that's good
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thank you so much your posts are so beautiful that you can post very beautifully from your post.you have great information provided about blocktrade and crpto exchange
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I dont have much steem. Should i try it with lower amount of steem?
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So changing an exchange can do wonders. I am happy to see you have saved $113. :)
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Nice work....and you have great information provided about blocktrade and crpto exchange...thanks to sharing..!
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It really takes effort to do those exchanges. In this age, we are so used to instant transaction where cost may increase to have this convenient. Definitely a great effort in finding alternative to save extra cash. Enough for a big buffet for your whole family with your saving!
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Thank you very much for your nice information with a great example.
Though I had previously exchanged with the Blocatraders but decided not to do it more. Thanks again.
@hafizullah
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@bytzz
Here I got a new experience. I have got to learn a lot in this post Thank you very much.
@one-step1
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