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Small investments and wallet network fee (Newbie)

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by COINS NEWS 37 Views

I decided to stop holding my crypto on binance and instead finally use software wallet. I created one on Exodus and was ready to send there my BTC. I just found out that every transfer has a 0.0004BTC (17$) fee.

I mean, I am okay with paying it now because i want to send all my BTC to the wallet. But let's say I want to invest 20$ every week to BTC. So in order to always hold my BTC on Exodus, that would mean i have to pay 0.0004BTC (17$) fee every transfer from Binance to Exodus. So by investing 20$ to BTC i will lose 17$ just by sending it to wallet.

Thats obviously non-sense to do.

So how do you do it? Do you buy the crypto, hold it on exchange such as Binance, Coinbase and after you hit a certain amount of $ you send it into wallet?

submitted by /u/davilaz
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