How to Avoid Paying Huge Commissions on Crypto Transfers? Lifehacks for Smart People

Have you ever felt like you just got ripped off in the market when transferring crypto? Don’t worry, you’re not alone. But before you start mourning your Satoshi, let’s figure out how to minimize fees when transferring crypto.

1. Choose the right network 🥅

Transferring USDT via Ethereum? Congratulations, you've already lost a decent amount of money on gas.

Ethereum is a cool network, but its fees are sometimes out of the realm of reason.

Try this instead:

Tron (TRC-20) – fees are almost zero, but keep in mind that there are snobs who consider Tron a “non-serious” network. You can ignore them.

BNB Smart Chain (BEP-20) – a cheap alternative, but not all exchanges support it.

Solana – a super-fast network with penny-pinching fees, but sometimes technical glitches.

2. Plan your translations according to time ⏲

Ethereum, for example, is cheaper to use in the early morning UTC when there are fewer transactions. Lifehack: Use sites like Etherscan Gas Tracker to track network load and catch the moment when fees are low.

3. Use Layer 2 solutions 🥈

If Ethereum is still dear to you, try Layer 2 solutions such as:

• Arbitrum

• Optimism

• Polygon (MATIC)

They are based on Ethereum, but are much cheaper. Sure, you have to deposit money first, but if you send crypto often, it pays off.

4. Use P2P and centralized exchanges 💰

Why pay fees for blockchain transfers when you can send crypto within the exchange for free? Binance, OKX, Bybit and other platforms allow internal transfers without fees.

And if you need to cash out crypto, you can use P2P trading. You just find a buyer, agree on a price, and send the crypto without any blockchain fees. The main thing is to check the seller's rating and not forget about safe transactions.

5. Save on wallet fees 🔐

Some wallets charge an additional fee for sending transactions. For example, Trust Wallet has less than favorable conditions by default. Manually setting the fee can help.

Tip: Use wallets where you can manually adjust the gas (Metamask, Rabby Wallet) - this way you can avoid overpayments.

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