Why is it so expensive to transfer Bitcoins?

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I am starting with bitcoins and I want to buy some neo and ripple. Like every newbie I typed "Buy neo" on google, and a lot of tutorials say I can not buy directly neo, I have first to buy some bitcoins (for example in coinbase.com) and then transfer them to a cryptocurrency market like binance.com and then in binance I will be able to change my bitcoins in neo and ripple. That's what I done and I it worked perfectly, but I was very surprised by the cost of the transfer from coinbase to binance, when transfering 120 dollars around 30 dollars where taken for transfer fees !?! What's the point in using alternative moneys if it is far more expensive than actual banks? And how can I do to avoid these transfer fees next time I want to buy neos??

Mouss

Posted 2017-12-26T09:51:52.753

Reputation: 103

Answers

1

What's the point in using alternative moneys if it is far more expensive than actual banks?

Well, there are more advantages. It's a decentralized system, you act pseudonymously...

And how can I do to avoid these transfer fees next time I want to buy neos??

1) You wait until the fees are low again. 3 months ago, you could send 500$ as Bitcoins with a fee of only 0.07$. I think, they will decrease again.

2) I think, there are also exchanges that accept $ or € to buy NEO directly (https://anycoindirect.eu/en/buy/neo for example)

ndsvw

Posted 2017-12-26T09:51:52.753

Reputation: 1 947

Thanx @Alpha : and where can I see "the course" of bitcoin transfer fees? Or calculate my transfer fees? – Mouss – 2017-12-26T10:14:34.193

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Maybe this site is useful: https://bitcoinfees.info/

– ndsvw – 2017-12-26T10:37:47.770

Thanx a lot it answers my question – Mouss – 2017-12-26T10:58:03.923

Asked: 2017-12-26T09:51:52.753

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Active: 2017-12-26T10:07:05.233