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Fees are why I haven't moved my ETH after using an exchange to buy some for USD. I don't want to pay the stupidly high costs to move the ETH into a wallet that
by ziml77 5y ago
Fees are why I haven't moved my ETH after using an exchange to buy some for USD. I don't want to pay the stupidly high costs to move the ETH into a wallet that I fully control. Especially because turning that back to USD so it's actually usable in day-to-day transactions would require paying yet more fees to move the ETH back to an exchange (or to an independent buyer).
- trotro 5y agoHave you had a look at gas prices recently? A transfer costs between 1$ and 2$ depending on the time of the day. It's still much higher than it should be, and let's hope that will change soon with the merge and L2 adoption, but that's not what I would call stupidly high costs to move the ETH.
- Tenoke 5y agoA single transfer for ETH maybe but that's also in part because ETH price is low. If you want to move erc20s it costs significantly more And if your portfolio includes many projects it is unseemly. Also a lot of exchanges or at least the biggest one - Binance - have higher withdraw fees in part because they must make multiple transactions to send your money out.
- ziml77 5y agoI hadn't checked recently. If they're that low then I'm going to pull the coins out now.