Crypto Bible — bitcoin machine

We have already discussed how to store Bitcoin and other cryptocurrencies, how much you should be paying for a Bitcoin transaction and for an Ethereum transaction. However, one important bit we’ve missed is how to withdraw cryptocurrencies back into fiat. If you’ve invested all your money into crypto and then realised that you need to eat and crypto can’t quite buy you food yet, you will definitely find this post interesting. Cashing out could be a challenging process and to be honest, this is where people normally run into trouble as they worry about safety and security of their money....

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...

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...