Currently, the fee for sending Safex out of the wallet is roughly $18 in fees for a “fast” transaction. That is rather pricey, especially if you’re just moving a small amount of Safex. Will the fee for sending Safex eventually be changed to using Safex itself?
yes…u are supposed to have atleast 0.0016 btc in ur account…u can choose from 3 different fee categories
Once the safex blockchain is up, we won’t need btc to send anymore, will still be a fee though, probably less.
Yes when the safex blockchain goes live the btc bc is mode of transfer. When bc is up, logically the fee would be 5% only. We need to see what the white paper say…
Doesn’t Bittrex cost 100 safex to send out a transaction?
“the btc bc is mode of transfer”, not sure what you meant by then.
We’ll have our own SAFEX blockchain to handle transfers
Yes. But when they do the transaction Bittrex has to pay the fee in BTC. Have a look at a bittrex safex withdrawal transaction on a blockchain explorer.
Interesting, that would mean Bittrex is taking a loss whenever someone transfers Safex out to a wallet.
It would be nice to be off of the bitcoin chain though. Transactions aren’t exactly fast so to speak and they can get held up for quite sometime.
I’ve thought that too. I’d say they are trying to balance things out. Remember they take a %age on each trade, so for you to buy those coins they took a fee. So I guess they see it on a balance of earnings.
If you were to deposit safex then withdraw safex without doing trading then I’d say after doing that a few times you might find your account locked under the disguise of money laundering. Since that is what it would look like they have to investigate due to the regulations they operate under. But also because you are simply costing them money and if you do it too often they get pissed off.
Haha, I wouldn’t want that. Someone’s gotta take these coins off my hands when this thing takes off!
Indeed, safex blockchain. I guess typo…
We need to get off it, as soon as Dan is done with Chille. Only then we are becoming a fully independent, all out currency. Looking forward to my first purchase in Safex.
Yeah you’re right. Typo
I’m new to the cryptocurrency trading. I read it costs 0.0016 btc to send safex from the safex wallet to bittrex. I was wondering, why are the fees so relatively high (over 25$) to send from one wallet to the other. Secondly if these fees are so high, why would I want to use the safex wallet at this point?
You’d want to use the wallet to get the airdrop of the Chille coins (or whatever it’ll be called).
@cryptomanic pointed out that we wouldn’t need btc anymore once the Safex blockchain is up. I see @dandabek liked his post, so I’d imagine this to be true.
This does raise another question. @dandabek with the release of the new blockchain, what will happen to the Safex we have now? Will they be moved to the new blockchain?
Yeah it will, the miners for the SAFEX cash will keep our blockchain running