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capet's avatar

Help me predict crypto transaction fees (approximately)?

Asked by capet (876points) March 9th, 2021
1 response
“Great Question” (1points)

I am trying to get a general idea of what the transaction fee would be to trade BTC for HBAR using the BRD android app.

I’m looking for very general advice, the kind that definitely isn’t financial advice. Obviously it’s going to be hard to predict.

I would just look, but I’m trying to decide whether to start using BRD in the first place, and I don’t want to pay the bank deposit fee until I can guess the BTC-to-HBAR fee.

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Answers

zenvelo's avatar

Generally, expect transaction fees in the range of 0.05% – 0.10%.

But the greater cost is a lack of a consolidated market, so while you may be buying at what appears to be the lowest offer, you may be trading at a higher price than somewhere else. The person you are buying from may be selling to you after he bought elsewhere for a lower price.

That is called arbitrage.

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