BITCOIN FARM

Monday, April 3, 2017

Exchanges-The ins and Outs

Today we will be discussing the way to choose a good exchange. I have in recent weeks been using My Android Coinomi app because of the fact Cryptopia has increased the withdraw of the litecoin which is too much over the network fee. So I have stopped using them as of this day.



Let us look at the network fee for sending or withdrawing Litecoin, 0.001 (LTC) is the Minimum fee per KB for non free transactions (creating). With that being said, Cryptopia refuses to allow a withdraw from your wallet unless the minimum is 0.1 (LTC), that is too much above the minimum and is the reason all goes to my Coinomi witch is based on electrum technology.



If you happen to be mining a coin that the App does not support try to mine one, or use the following two good exchanges, Bleutrade, or Poloniex. These two exchanges do not have a high withdraw amount, and the fees are reasonable. I recommend either or both of these exchanges. I do use Poloniex or Bleutrade to exchange certain coins.



Now let us understand that when you look into an exchange, do not merely pick the exchange because they have the coin you are wanting to mine listed. The idea is to change the coin over to ones that would be the easiest, not at the expense of the exchange to take more from you.



For all Android users I personally recommend Coinomi, and Shapeshift they are a great source for us miners.


















Coinomi











Shapeshift.io

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