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Archive => Sorting Box => Topic started by: Pilou757 on February 18, 2021, 09:09:09 PM

Title: Buying/Transfer fees, crypto not supported by Wallet
Post by: Pilou757 on February 18, 2021, 09:09:09 PM

Hi all,

First of all, English is not my mother tongue so please be kind to me :-)

I'll go through some of my beginner interrogations:

I started investing in crypto for long-term storage (between 500 to 1000€ /month). I buy crypto via Coinbase and Kraken via prepaid MasterCard (N26 Germany) and I store them on Exodus.

Here are my questions:

1. A soon as I buy crypto, I pay a fee which is around 20€ to buy let say 500€ of chainlink (LINK). So I got the equivalent of 480€ of crypto LINK. But then, I send it to my exodus wallet and I lose another 10€. Is there a way to lower these fees?

2. On my Exodus wallet, some cryptos are not supported. However, they say we can still send them to the wallet. Will then the price be fixed or the amout of coin be fixed? (and take my profit the day I decide to sell?)

In advance, big thanks for your time.
Pilou

Title: Re: Buying/Transfer fees, crypto not supported by Wallet
Post by: Master107 on February 19, 2021, 01:40:08 AM

Hello ;D
I found something for you. ;)

Exodus wallet design allows users to calculate the fee for making transactions on a network automatically. As it supports multiple cryptocurrencies, the fee for each network varies greatly. However, fees on Exodus tend to be higher than other wallets, as it is designed to send transactions as quickly as possible, not as cheaply as possible. What you gain in speed, you lose in the fee.
If you are a newbie to the crypto world who wants a simple way to keep digital currencies, Exodus wallet could be a good choice but not the best. This online wallet is good for keeping small sums of digital coins, but we would not recommend it otherwise due to security issues.

Source (https://insidebitcoins.com/bitcoin-wallets/exodus)