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    Author Topic: Not free to transfer bitcoins?  (Read 923 times)

    • Kiweikoo
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    September 11, 2017, 10:26:22 AM
     #21
    Quote from: beerlover on September 02, 2017, 04:04:18 PM
    Quote from: irsada on September 02, 2017, 08:29:09 AM
    where do you hear that bitcoin is free of charge when transactions transfer?
    I think maybe you misunderstood the information.
    Lmao… it’s  likely he came across an old bitcoin post on the internet, which the author never took the responsibility of updating his posts. This time around, sending bitcoin from one wallet to the other will cost you a fee. With the current rate of $4,500+, we need to pay as fee around $5 or so.
    This is really a joke that bitcoin transaction is free of cost. I have never heard about this and it will never be free, because the management and controllers and the brokers who does transfer for you are not setting there for free.

    They are also working for money and this is their job to cut some amount on your transaction. It is done all over the world not only in bitcoin but trading and transferring any digital and paper currency.

  • kevindjunaidi
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    October 08, 2017, 12:35:45 AM
     #22
    to transfer our bitcoin to someone else has a fee, the fee for transferpun quite large. but it depends on the wallet that we use, setial wallet has its own cost. there is also a free bitcoin transfer faislitas, but when we use the facility we must be careful for fear that the wallet that provides free transfer facility is a scammer

  • YuginKadoya
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    October 08, 2017, 12:49:34 AM
     #23
    Quote from: kevindjunaidi on October 08, 2017, 12:35:45 AM
    to transfer our bitcoin to someone else has a fee, the fee for transferpun quite large. but it depends on the wallet that we use, setial wallet has its own cost. there is also a free bitcoin transfer faislitas, but when we use the facility we must be careful for fear that the wallet that provides free transfer facility is a scammer

    It is always like that for a transaction to be free then it is always a suspicious one, just like if you are getting to won the lottery for free and not doing anything or getting a text message about free stuff, It is good to check first about everything you will do Bitcoin is at stakes here so be very vigilant in getting into transactions seek good feed backs first or information about the site, well I think the guys here provided OP with some good information in what to use and what to do.

  • iram1011
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    October 08, 2017, 12:57:06 AM
    Last edit: October 08, 2017, 01:47:59 AM by iram1011
     #24
    Quote from: jklausen on August 29, 2017, 09:24:09 AM
    Hi, I have heard that one of the good things about bitcoins is that it is free to transfer bitcoins between accounts/wallets with no fee and it is free to pay with it.
    Now I have made deposited a small amount 10 euros to Copay and i want to move it to another wallet or buy something with it. I get this information when I try: Amount too low to spend, spending this balance will need significant bitcoin network fees!
    Why is that? Are there a better way to store bitcoins?
    Why people call Bitcoin to be the best way to transfer money at free of cost because the fees isn't that big as compared to amount and thus is negligible. You can transfer even 1-1000 BTC at $1-$3 of transaction fees. It is almost nothing as compared to the amount. That fees seems big when the transactions are small and transaction is happening in same country as was your case because otherwise it is free.

    But here the fees is being compared to global transfer. Fees is way too small when compared to remittance fees on which countries are spending trillions of dollar every year and that is why Bitcoin is considered to be the best way to transfer money when it comes to countries and can help in saving trillion of dollars of nations that goes in remittance fees.

  • Pearls Before Swine
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    October 08, 2017, 01:09:55 AM
     #25
    Quote from: coin@coin on August 29, 2017, 09:44:10 AM
    there will always be network fees,
    Indeed.  You have no idea how important it is to use a wallet that lets you set
    the fee until you try to do it and have to spend $4 to send $30 worth of BTC.  Then
    you're pulling your hair out by the roots.  The blockchain wallet for mobile lets you do it,
    and Mycelium to some extent, although you can't set anything lower than "low-priority"
    which sometimes is very high.  Electrum is a good wallet for setting fees low.  Those are
    all mobile wallets.

    Good luck.  Fees are a pain in the ass and are variable, but they're a fact of life for BTC.

  • novhitadaloma
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    October 08, 2017, 02:20:05 AM
     #26
    Quote from: jklausen on August 29, 2017, 09:24:09 AM
    Hi, I have heard that one of the good things about bitcoins is that it is free to transfer bitcoins between accounts/wallets with no fee and it is free to pay with it.
    Now I have made deposited a small amount 10 euros to Copay and i want to move it to another wallet or buy something with it. I get this information when I try: Amount too low to spend, spending this balance will need significant bitcoin network fees!
    Why is that? Are there a better way to store bitcoins?
    I do not think bitcoin transactions cost.

  • mx667
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    October 08, 2017, 02:29:00 AM
     #27
    Quote from: jklausen on August 29, 2017, 09:24:09 AM
    Hi, I have heard that one of the good things about bitcoins is that it is free to transfer bitcoins between accounts/wallets with no fee and it is free to pay with it. Now I have made deposited a small amount 10 euros to Copay and i want to move it to another wallet or buy something with it. I get this information when I try: Amount too low to spend, spending this balance will need significant bitcoin network fees! Why is that? Are there a better way to store bitcoins?

    Yes, the good things about Bitcoin are :
    • no limit for transactions
    • you can transfer as much as you want
    • with amount of money as much as you want
    • no maximum amount of money when you transfer

    But, it will always require fee if you want to transfer BTC. Some wallets allows you to customize your fee. The higher fee you give, the faster transactions will be made. But there is also a minimum amount of fee that you must pay. You cannot change it to 0 or 0.1 cent, it will be to low. You can see it for yourself on the wallet, for example : Blockchain.

  • lucifochrome
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    October 08, 2017, 02:31:08 AM
     #28
    There is always pay in transferring bitcoin, think of it as maintenance fee. If every transaction per person use the system so everytime that someone will transact little by little the system wears off and there will come a time that it will break down, so this fee is to maintain that everything will run smoothly and then some of this fees are used to upgrade the system. If the high transaction fees worries you then you just have to find another wallet that have low transaction fees.

  • pooya87
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    October 08, 2017, 04:12:52 AM
     #29
    Quote from: coin@coin on August 29, 2017, 09:44:10 AM
    Whichever way you store bitcoin there will always be network fees,

    this is not technically true.
    you can send bitcoin with 0 fees (for free) and as a matter of fact it (used to) propagate and be confirmed withing minutes even. although with the recent changes to bitcoin core this is dying slowly with the default "minrelaytxfee" and stuff like that. but otherwise miners picked up 0 fees so far.

  • Wittycoin
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    October 08, 2017, 04:22:12 AM
     #30
    Quote from: jklausen on August 29, 2017, 09:24:09 AM
    Hi, I have heard that one of the good things about bitcoins is that it is free to transfer bitcoins between accounts/wallets with no fee and it is free to pay with it.
    Now I have made deposited a small amount 10 euros to Copay and i want to move it to another wallet or buy something with it. I get this information when I try: Amount too low to spend, spending this balance will need significant bitcoin network fees!
    Why is that? Are there a better way to store bitcoins?
    Welcome to bitcoin world. Transferring bitcoin to other wallet or account is not free, it is always have fees on transferring it. Every transactions that you do in bitcoin has a fee. What I can say is you must find a wallet which cost less fees when you transfer bitcoin to another wallet or account, or when you have some transactions in bitcoin. Do some researches to find a better bitcoin wallet. Good luck I hope for ypur success with bitcoin.
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