5 Ways to Save on Crypto Transaction Fees

[Suba]

Crypto transaction fees are a number of fees charged when users make transactions, whether sending, withdrawing from the exchange to a personal wallet or when swapping crypto to crypto. Apart from blockchain fees, users will also be charged admin fees by the wallet or exchange. Blockchain transaction fees will always fluctuate and depend greatly on the traffic density on the blockchain. Here are some ways to save on crypto transaction fees such as:

1. Select Coin For Transaction
If you often make crypto transactions, you should choose coins that have low transaction fees, such as BCH, Doge, Ltc and Tron.

2. Avoid Busy Networks
If you are forced to transact Bitcoin and Ether, you should avoid busy networks, especially during European and American times.

3. Don't use credit/debit cards
When buying crypto, you should avoid using credit/debit cards and Paypal. because this payment platform has features
chargeback so the seller will charge a higher fee.

4. Use Native tokens
Currently, many cryptocurrency exchanges have native tokens, such as BNB, Huobi token, WazirX token, Probit token, etc. If you pay trader fees using native tokens the fees will be lower or you will get a discount.

5. Lightning Network
If you often make Bitcoin transactions, you should use the alternative lightning network with very cheap fee rates.

 

[saoussen5765]

@Suba after you use Lighting Network how could you deposit later to FaucetPay because I do not see a Lighting Network deposit option on Faucetpay for earnings received from microlancer io for example? Or even a Payeer account? Or Binance wallet?

 

[Suba]

@Suba after you use Lighting Network how could you deposit later to FaucetPay because I do not see a Lighting Network deposit option on Faucetpay for earnings received from microlancer io for example? Or even a Payeer account? Or Binance wallet?

If you have received a BLN (Bitcoin lighting network) payment and it has been saved in your lightning network wallet such as
Phoenix Wallet, Breez Wallet etc. If you want to deposit BLN on FaucetPay, you cannot send it directly but you have to convert BLN into standard Bitcoin which uses the main blockchain on several exchanges that have adopted the lightning network such as Binance, Kraken, OKX etc. Next you can choose to use the LN network, then you can choose an invoice to change network.