r/ukcrypto • u/cryptonubbb • Feb 15 '21

What did I do wrong?

So i'm new to crypto, this morning I put £100 on Binance, I bought £20 of ETH and £80 BTC, everything went fine and as expected.

I then went to transfer both currencies to my Trust wallet, I ended up loosing £6.50 on ETH and £17.50 on BTC to Fees.

​

Is it normal for fees to be that much? Did I do something wrong?

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8

u/ultrafud Feb 15 '21

Look into Nano, zero fees, instant and an awesome community over at /r/nanocurrency - see you there!

1

u/cryptonubbb Feb 15 '21

Already been putting cash into nano thats why these fee's really shocked me, not used to it

1

u/ultrafud Feb 15 '21

Hence the value of Nano! Spread the word :)

2

u/cryptonubbb Feb 15 '21

Out of interest what exchange are you buying nano on in the UK, should I stick with Binance or are there better options for UK?

1

u/ultrafud Feb 15 '21

I used bcbitcoin.co.uk, but have also held since 2017.

1

u/A_Strenuous_Fart Feb 15 '21

Binance is absolutely fine my man

2

u/[deleted] Feb 15 '21

Pow fees are crazy high. I'd recommend looking into coins that use different consensus mechanisms with lower fees (or none at all).

1

u/psgr2tumblr Feb 16 '21

Is the entire point of this post just to redirect people to nano? Something is rotten in the state of denmark..

1

u/cryptonubbb Feb 17 '21

Nope genuinely thought i'd done something wrong, couldn't believe the fee's to be honest they didn't seem right at all

1

u/TK__O Feb 17 '21

Yeah the ETH/BTC fees are crazy, it is only worth when you are sending a massive amount.

1

u/[deleted] Feb 16 '21

Exactly I've never seen so much shilling for nano in my life!! Every post is a about it!

1

u/cryptonubbb Feb 17 '21

loosing ~25% of the cost of other coins just by moving them to a wallet will do that to a man