Cashing Bitcoin: Difference between revisions
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Fees: | Fees: | ||
*'''Low cost exchanges''' - For example, BitMEX is free to withdraw? [https://coingape.com/cryptocurrency-exchanges/low-fee-cheap-cryptocurrency-exchange/] | |||
*'''Network fee''' - always exists? Paid to network operators. [https://help.zengo.com/en/articles/4839808-fees-and-transaction-limits-in-zengo] | *'''Network fee''' - always exists? Paid to network operators. [https://help.zengo.com/en/articles/4839808-fees-and-transaction-limits-in-zengo] | ||
*'''Processing fee''' - buying, selling, trading fee. | *'''Processing fee''' - buying, selling, trading fee. | ||
Revision as of 22:31, 16 March 2024
Terms and Language
- A crypto withdrawal - when you transfer your cryptocurrency balance to an external wallet, such as a Metamask, Ledger or to a cryptocurrency exchange. This is known as an 'on-chain' transaction, where the transfer occurs on the blockchain.
- Non-custodial (or self-custodial) vs custodial - non-custodial means you have private keys, custodial means they have your private keys
- Makers and takers - Makers are market makers who provide two-sided markets, and takers as those trading the prices set by market makers.
- crypto exchange - allows you to buy and sell in crypto and fiat [1]
- Bank transfer - fiat transfered from exchange to bank
- Fiat wallet - tranfer to bank account is free for crypto.com [2]
- Selling crypto to a bank account - Moonpay has 1% fee [3]
- Selling fiat to bank account - same as fiat withdrawal. Crypto.com has free withdrawal from fiat wallet [4].
Fees:
- Low cost exchanges - For example, BitMEX is free to withdraw? [5]
- Network fee - always exists? Paid to network operators. [6]
- Processing fee - buying, selling, trading fee.
- Gateway fee - fee to operators for interaction with banks, cc companies, payment providers