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Crypto Bible — 1 bitcoin

How to save on fees when transferring and withdrawing Bitcoin from exchanges?

Posted by Taras Lanchev on

The fees for withdrawing cryptocurrencies vary dramatically across exchanges. For example, Stocks.exchange charges 0.002BTC (around $22) for a withdraw whereas Bittrex charges 0.001BTC ($10.50). The smallest fee, that I know of, is on Poloniex which charges 0.0005 BTC ($5.25). As for transferring money between exchanges, Bitcoin is to be not the best option out there. This is to say, despite the mempool getting less clogged up and the Lightning Network coming into play, it still may take some time. A fee for a withdraw Luckily for us, the exchanges don't just trade Bitcoin, but also have other cryptocurrencies. That's how we can transfer...

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How much to pay for a Bitcoin transaction? Calculating Bitcoin fees in Satoshis

Posted by Taras Lanchev on

We have already installed your Bitcoin wallet and might have even tried to do your first transaction. If you succeeded - well done! If not, not to worry. All of us still have to learn about Satoshis, transaction bytes, how not to pay extra fees. Let's jump into it! 1 BTC = 1000 mBTC = 100 000 000 Satoshi mBTC - literally means milliBitcoin (mBTC and BTC are like millimetres and meters in real life). Satoshi - is 10-8 of Bitcoin. This is the smallest unit of Bitcoin. It is named after the creator of Bitcoin - Satoshi Nakamoto. All current wallets are built...

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How to store Bitcoin? Creating a Bitcoin wallet

Posted by Taras Lanchev on

- How do I store Bitcoin? - You need to get a cryptocurrency wallet - How do I do it? - Listen up! -- It's weird, but these kinds of questions don't get answered in too much detail on the internet. Even if you type in "Bitcoin wallet comparison" you get some stupid websites i.e. "20+ Best Bitcoin Wallets to Store your Bitcoins in" with some really weird comparison criteria and an ad for 1 of them. I already mentioned Jaxx in my post about how to buy cryptocurrencies. It supports tons of coins (BTC, ETH, DASH, ETC, REP, LTC, ZEC, RSK, DGE,...

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How to buy cryptocurrency?

Posted by Taras Lanchev on

99% of the time people use real (government-issued fiat) money to purchase Bitcoin (BTC). After that, you can use your BTC to buy other, less popular cryptocurrencies often referred to as altcoins. You can use https://cryptoradar.co to find the best crypto prices on the market, but their system only supports a few cryptos and is too simple for my taste. Instead, you can use https://localbitcoins.com which is much better in my humble opinion. Obviously, when you buy BTC you will need a place to store your Bitcoins. The simplest way to store your crypto is to get https://jaxx.io wallet which is a multi-currency wallet available on mobile and desktop...

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