I have pretty much ignored blocktrades mainly because I switched to using my ETH funds to buy other altcoins directly because of the insane fees with transferring BTC (ETH much cheaper!). I also don't want to cash out any steem .... I plan on keeping it here powered up! I will still take another look a blocktrades just in case. Thanks for the info!
hmm... I always felt like the rates weren't the best via blocktrades, but when you put it that way..... I really want someone to write code to calculate the fees for me so I can make my decision on the spot... damn maths, makes me kinda wish I decided to care about math a lot sooner
Yeah I've been doing the bittrex thing for sure. One benefit is that you can send small amounts to bittrex at a time and not have to pay fees on each transaction.
What a great point and one thing I never really thought of. I just figured the fees at blocktrades where so high it wasn't worth it, but you make a very good point by the time you pay all those fee's it's probably just cheaper to use blocktrades.
I think so. Sometimes it is difficult to do the math when dealing with decimal places. But at the very least, they are competitive and convenient. And I have never had money go missing from a Blocktrades Transfer. That's not something I can say about the exchanges.
No if you want to convert SBD to Steem the internal market is likely always going to be the best option. I certainly would not pay fees to Bittrex to do it.
Thanks Mike... I just wasn't sure if the Internal Market was skewed by whales playing the Steem->SBD side or not... I tried to work it out but the maths broke my brain.
Now you have made me wonder...about using blocktrades to send bitcoin directly to my quadriga wallet...or if that is even possible? It would certainly save a few steps going through bittrex!
As long as you have a wallet address to send to I am sure you can send it straight to your wallet from Blocktrades. I would send a small amount first, just to be sure it goes through, before sending a larger amount.
Thank you for the idea to minimize the go between transactions...it really never occurred to me before. I will certainly try it out with a small amount first. Even if the fee savings are low or none ...or for whatever reason slightly higher...the convenience alone will be worth it. <3
Just watched a video on this from @joeparys
Had the same "breakthrough" on how much those little commissions are worth added up.
interesting! I was not aware of Joe, I will definitely go take a look at what he's got going on.
I have pretty much ignored blocktrades mainly because I switched to using my ETH funds to buy other altcoins directly because of the insane fees with transferring BTC (ETH much cheaper!). I also don't want to cash out any steem .... I plan on keeping it here powered up! I will still take another look a blocktrades just in case. Thanks for the info!
Yeah, I think blocktrades would be best with bigger transactions.
Definitely going to check it out on my next transfer
hmm... I always felt like the rates weren't the best via blocktrades, but when you put it that way..... I really want someone to write code to calculate the fees for me so I can make my decision on the spot... damn maths, makes me kinda wish I decided to care about math a lot sooner
Yeah I've been doing the bittrex thing for sure. One benefit is that you can send small amounts to bittrex at a time and not have to pay fees on each transaction.
Exactly! The math is a pain in the ass. I have to have about 7 tabs open just to figure out one transaction. hahaha
the short story is... "If you want to turn your SBD to ethereum or dash, maybe just use blocktrades"
What a great point and one thing I never really thought of. I just figured the fees at blocktrades where so high it wasn't worth it, but you make a very good point by the time you pay all those fee's it's probably just cheaper to use blocktrades.
I think so. Sometimes it is difficult to do the math when dealing with decimal places. But at the very least, they are competitive and convenient. And I have never had money go missing from a Blocktrades Transfer. That's not something I can say about the exchanges.
When converting SBD to Steem... do you do that through the internal market or through Bittrex?
No if you want to convert SBD to Steem the internal market is likely always going to be the best option. I certainly would not pay fees to Bittrex to do it.
Thanks Mike... I just wasn't sure if the Internal Market was skewed by whales playing the Steem->SBD side or not... I tried to work it out but the maths broke my brain.
Mmm, what a delight to read this post. Just when I'm starting to explore my options. Thank you Mikey for this educational and entertaining post!
you are very welcome. As with everything Do Your Own Research and make sure you are comfortable with the trades you are making!
Thanks @mike74 for a lesson on how to hold on to a little more money when you trade.
I hope it helps!
Now you have made me wonder...about using blocktrades to send bitcoin directly to my quadriga wallet...or if that is even possible? It would certainly save a few steps going through bittrex!
As long as you have a wallet address to send to I am sure you can send it straight to your wallet from Blocktrades. I would send a small amount first, just to be sure it goes through, before sending a larger amount.
Thank you for the idea to minimize the go between transactions...it really never occurred to me before. I will certainly try it out with a small amount first. Even if the fee savings are low or none ...or for whatever reason slightly higher...the convenience alone will be worth it. <3
That's a good idea. I'm not sure why I didn't think of sending straight to a wallet...
steem is also on binance now.
yaa thanks for shere this now i do not sending drictly any sbd in bittrex.....