How not to waste your money on TX withdrawal fees?
This article is applicable if you have way LESS than 1 BTC
(Note that all the decimal places are rounded up and conversion to USDT are in approximate figures)
1. BTC (Bitcoin)
Now it costs 0.001 (8 USD) TX fee to withdraw your BTC. HOLYYY, it's really expensive! I must say it's a bad choice to use BTC to withdraw now! With all the forks happening around BTC, it will cross $10k by the end of the year for sure.
By then, how much will it cost to withdraw BTC? Probably 20 USD!
Unless you have more than 1 BTC to withdraw, i suggest you not to use BTC as a withdrawal method.
Rating:
1/5 (if you have LESS than 1 BTC to withdraw)
5/5 (if you have MORE than 1 BTC to withdraw)
2. ETH (Ethereum)
For example, I will use 1 BTC to buy ETH. It costs 0.0025 (20 USD) in commission just to convert. However, if you are buying less than 1 BTC, it will cost MUCH lesser. And this is why if you have less than 1 BTC, ETH is one of the withdrawal choice.
It costs JUST 0.002 ETH in Tx Fee to withdraw, approximately 0.0001 BTC (0.7 USD)
ETH will go up in long term. By then, i predict it will cost 1 USD or still the same in TX Fee, still cheap :)
Rating: 4.5/5
3. LTC (Litecoin)
It costs 0.01 LTC in Tx Fee to withdraw, approximately 0.0001 BTC (0.7 USD)
Considering the difference in price between LTC ($70) and ETH ($370), and it costs the almost the same in TX fees, i will pick ETH over LTC.
LTC's TX fee is cheap now because it's still hovering around $70. If it goes above $150, maybe it will probably cost more than ETH.
Rating: 4.5/5
4. Dash
If you look at their website https://www.dash.org, Dash is a digital cash, which means it's supposed to have CHEAPER transaction fees. However, TX fee shows otherwise. It's supposed to be the cheapest among ALL the coins.
Currently over $450 in price, it costs 0.002 DASH (0.00012 = $0.8)
I am not spreading FUD, but i don't see any benefits in using DASH when i can use Ethereum or Litecoin. Other than sending money which is obviously more expensive than both ETH and LTC, what does it really do? The website does not seems to have any good projects going on.
I am not sure if Dash can even maintain $450 price range.
Rating: 2/5
5. BCH (Bitcoin Cash)
I am not sure why Bitcoin wants to have so many Forks when all the end products like BCH or BTG is useless. They have no purpose at all other than adding extra ALT-coin slots in Bittrex.
BTC is King when it's already used worldwide, but to have so many upcoming forks just to increase the price and to add more bloodbath, is just ridiculous! Why not focus on adding more value and better projects, instead of having so many useless Forks?
Someone should contact Satoshi Nakamoto to STOP forking useless products!
It costs 0.001 BCH, which is 0.00015 ($0.95)
Not only it's expensive, Bittrex actually named BCH as BCC (BitConnect), maybe BCH is also a Ponzi scheme?
Rating: 1/5
6. XRP (Ripple)
Ripple is almost the same as Dash, except that XRP is used by banks etc. Still, the TX fee doesn't justify why it's the platform people want to use to send money globally. It should be cheaper than DASH! Thus, majority will still want to use PayPal instead of XRP.
It is hovering around 3000, once it goes above 10000, i think that xrp's TX fee will be more expensive.
5 XRP = 0.00015 = $0.95 , it actually costs the same as BCH!
Rating: 1/5
7. Neo
The Ethereum of China, it actually costs around the same as ETH. At 0.025 Neo = 0.0001 BTC
(0.7 USD)
Neo has great projects, so i won't elaborate much. However, only few exchanges accept Neo to USDT exchange, it will take time though.
Rating: 4/5
8. OMG (omiseGO)
Same like Neo, not a lot of exchanges accept OMG to USDT.
It costs 0.1 OMG = 0.0001 = $0.7
Rating: 4/5
Conclusion:
I don't elaborate much on ZEC, ETC and XMR because they are almost same like NEO and OMG, with not much exchanges accepting USDT conversion.
Those coins with great projects should be allowed USDT exchanges but coins like BCH shouldn't be allowed.
DASH and XRP has to be cheaper than the rest!
ETH and LTC still prevail over others :)