RE: Which major cryptocurrency is the best for inter-exchange transfers?

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Which major cryptocurrency is the best for inter-exchange transfers?

in cryptocurrency •  7 years ago 

Thanks for the practical insights. When you say; "So whenever for example, you want to transfer bitcoins from exchange to another, instead of sending your bitcoins directly, convert them to ripples and send those ripples. On the other exchange, just convert ripples back to bitcoin then. As simple as that." Am i to understand that there is no fee, or a much lower fee, for transactions done on the exchange when compared to the fee for sending a simikar transaction? Thanks again!

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  ·  7 years ago (edited)

Yes there is cost for that too, but its usually small. For example in Binance, it is just 0.1% or 1 thousandth of the traded amount. So, if you are transferring much less than 1 BTC, it would be better to convert to ripples and then back.

Thank you.