Bitcoin Fees

[finances5]

Hello everyone,

What does it mean when the Bitcoin platform you use has an effective rate of conversion fee (after waiver) of 1.49%?

And if you were to purchase $1,000 worth of bitcoins, what would be the fee?

Thanks!

 

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[TKDTyler]

Google Is Your Friend

 

[finances5]

Never mind. I found the info in the platform's website. Thanks anyway.

 

[ernesto50]

You're not specifically referring to that but since it will come up later: Bitcoin's fees can change when you transfer it from one wallet to the other. It works in a way that depending on the "traffic" on the network you will pay more or less fees to transfer Bitcoins fast, which is currently one of the downsides of the network (but is being worked/improved on with the lightning network).

 

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