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by redox99 1370 days ago
Yes

About 1.50 USD bitcoin fee transfer[1][2], no fees for deposits or withdrawals on FTX for both BTC and USD (for > 0.01BTC, around 200 USD)[3]. And 0.07% taker, 0.02% maker fees for trades [4]

[1] https://ycharts.com/indicators/bitcoin_average_transaction_f...

[2] Could be avoided or greatly reduced if using other cheaper cryptos

[3] https://help.ftx.com/hc/en-us/articles/360034865571-Blockcha...

[4] https://help.ftx.com/hc/en-us/articles/360024479432-Fees

1 comments

Compared to what?
Western Union.

https://www.westernunion.com/us/en/send-money/app/price-esti...

I just tried it myself and it says they will charge $60 to send $1000 to the US.

Also, they add this disclaimer:

2 In addition to the transfer fee, Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates and taxes may vary by brand, channel, and location based on a number of factors. Fees and rates subject to change without notice.

Xoom (Paypal) says $8 to send $200 so 4%. Percentage goes down as the transaction increases in size. At $1,000 it's $16.

The bigger problem is KYC laws. Kind of hard to satisfy them as an illegal immigrant. Suspect that they're getting screwed by the additional middle man willing to break the KYC laws.

I was going to calculate it on WU but their webserver banned me for some reason [1]. So there goes the centralized experience lol.

[1] Access Denied You don't have permission to access "http://www.westernunion.com/us/en/send-money/app/price-estim..." on this server.