Hi Crypto-world!
Today i wanted to talk about some of the best practices I've experienced with moving my Crypto around, from exchange to wallets. I am in not fashion a Bitcoin billionaire but, i have dabbled enough to where I don't make my newbie mistakes
- knowing how much your charged to move the Crypto
- Knowing The timeline of transfers
- knowing limitations for moving or not being able to move
One of the biggest hurdles is what you are being charged to move Crypto from one place to an other. Recently prices to move tokens particularly erc-20, jumped up big time. Sure bets I've noticed it that its easier to move tokens that are the ecosystem like BITCOIN ETHEREUM XRP STELLAR AND LITECOIN. Although i do prefer YFI and other erc-20 tokens i don't like to make sure i have eth to move it and make sure i'm not losing more eth if it drops in price. In my opinion your really keeping track of 2 tokens when you should be concentrating on the one.
The second point i want to bring up is the time of the transfers. its a pain in the ass sometimes to wait for transfers to come through. i really like the near instantaneous transfers of the main tokens I've mentioned above. sometimes you can be waiting for hours for transfers and could miss a breakout opportunity.
The last point i want to make sure is understood is the limitations certain exchanges have to move your Crypto to a safe place. Before you buy your Crypto know the limits so that doesn't blindside you and your stuck trying to send small amounts from place to place. for example i sent Crypto from my wallet ( super small amount something like $5 worth ) not knowing you there's a minimum to have before you can transfer out of accounts i had to wait until i had more to remove that small amount out of that account. you should have this issue if you moving over $50 worth, most usually. but fair warning just in case.
But i hope the ones who need a little guidance find this helpful, and i wish each and everyone of you amazing success with your Crypto!!!
Thanks,
AP
