I wanted to send $20 to my bitpay credit card so I sent $24 from coinbase to my bitpay account.
By the time it got in my bitpay wallet I had $15.88 and it said that trying to spend this small of an amount was difficult due to the fees being as much as the deposit.
If I sent this $15.88 to my bitpay card it said the network fee was $1.98 and the miner fee was $5.90 leaving $7.99 to be transferred.
I decided to just send it to my Trezor wallet and it transferred $14.04 to my wallet.
I read the small print on my bitpay card and I see they will charge me $5.00 every three months of no activity.
I realize that most people use this for large purchases and it allows persons to use their bitcoin for transactions but as I just started out small I realize they are making some large fees.
For a currency exchange it is much less expensive to transfer ethereum for instance which is much faster and cheaper.
I don't really believe bitcoin cash is the new bitcoin but maybe a little competition for speed and fees are a good thing.
Tenx is supposed to accept other methods of payment but it isn't yet available in the US yet but is supposed to be here this year.
thanks for this post, I was just thinking about getting a bitpay card but since I would also be making smaller transactions, it looks like a bad idea!
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