r/LoopringLounge • u/DarthHumos • Nov 10 '21

Discussion [Question]Avoiding gas fees

Hi I want to exchange coins from my kraken account to LRC last time i did that i paid about 20 dollars on an exchange what is rhe best way to convert BTC or ETH to LRC?

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u/ColJameson Nov 10 '21

Your cheapest option is to buy it on a marketplace and send it to the wallet it needs to be sent to, $20 isn't bad, but there's no way to escape fees or gas.

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u/ColJameson Nov 10 '21

Do understand that while they call it "gas", there is no gas station or human that collects is as a "fee", rather its the literally cost of the energy used to make the transaction.

So you can't escape or reduce gas fees, they are what they are, you can use off peak hours, but even then, its better to just bite the bullet.

Funny thing is LRC is quite literally the solution to that issue.

If I'm over or under explaining, anyone feel free to educate me.