Bitcoins & HIGH fees

in #bitcoin7 years ago

I just recently lost $45.00 worth of bitcoins to the block-chain that I will probably never see again because it seems I put to low a fee. That is very upsetting to me as it was very difficult to get in the first place. I thought 11sotoshi/byte would be high enough but I now have no hope of ever seeing my money ever again.

There are a few things I have learned from the experience however and would like to share them with all of you as am sure some of you may find them of use. IOTA for the future will be the Crypto I use if I want to actually have a currency I can transfer digitally. Bit-coin with it's ever increasing higher and higher fees makes no sense to me to any longer use in the digital world for any kind of buying or selling due to those fee's. All that said I do think there is still a place for Bit-coin in the online world. I think it makes a good asset if you are going to buy and sell crypto and it never leaves the trading platform you are using, as in this case you will never experience any fee's other then your trading fee's and those are pretty low.

If you do want to take profits from Bit-coin out of a trading platform and not be slapped with high fees for doing so then I would recommend to transfer those assets into Doge coin as it will not cost you very much to do so. From there you can use changelly.com and change that doge coin into the crypto of your choosing with very few fee's. Yes this makes it a two step process instead of just one but I think the end result of paying less is worth it.

I would love to hear what you all think and if you got any trading advice or have comments you'd like to share about bit-coin please feel free to share.