How can I save on transaction fees when using shares.io for cryptocurrency trading?

4 answers

• Dec 19, 2021 · 3 years ago
  One way to save on transaction fees when using shares.io for cryptocurrency trading is to carefully choose the right time to make your transactions. Cryptocurrency markets are highly volatile, and transaction fees can vary depending on market conditions. By monitoring the market and making your transactions during periods of lower volatility, you may be able to save on fees. Additionally, consider using limit orders instead of market orders, as limit orders allow you to set the price at which you want to buy or sell, potentially avoiding higher fees associated with market orders.
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• Dec 19, 2021 · 3 years ago
  Another strategy to save on transaction fees is to consolidate your trades. Instead of making multiple small trades, try to combine them into larger transactions. Many exchanges charge a fixed fee per transaction, so by reducing the number of transactions, you can save on fees. However, be mindful of the potential impact on market liquidity and price slippage when consolidating trades.
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• Dec 19, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a unique feature that can help you save on transaction fees. They have a fee rebate program where users can earn rebates on their trading fees by holding BYD tokens. The more BYD tokens you hold, the higher the rebate percentage. This can be a great way to offset transaction fees and save money while trading on shares.io. Keep in mind that this feature is specific to BYDFi and may not be available on other exchanges.
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• Dec 19, 2021 · 3 years ago
  If you're looking to save on transaction fees, it's worth considering other cryptocurrency exchanges as well. Different exchanges have different fee structures, and some may offer lower fees compared to shares.io. Do your research and compare the fee schedules of various exchanges to find one that aligns with your trading needs. However, be sure to consider other factors such as security, liquidity, and user experience when choosing an exchange.
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