Cryptocurrency is expensive? Commission for $ 600 million amounted to only $ 7
Source:The crypto currency exchange Binance for several days moving their bitcoins . Of course, large transactions to conceal fails. Other translations have attracted the attention of two operations, which perfectly demonstrate the advantages of the blockchain. The unit was 550211 transaction volume more than a million, which is Binance paid a Commission of just over $ 8. «High» the Commission is likely driven by the speed requirement of the transfer because the transaction is relatively small – only 1550 bytes.
Another transaction noticed Antoine Le Calvez from . Today it is the largest unspent transaction size to $ 600 million. In my example, it shows that the fee for Bitcoin transactions do not depend on the amount, but based on the amount of computer resources for storing information. The operation was in the block 550155 a few hours later. She «weighs» 5981 bytes, but the Commission was only 7 dollars.
theIn contrast to traditional services
To find out the cost from Bank to Bank, you need to spend days and even weeks. Moreover, the fees for intermediaries will be impressive. Can't say that about Bitcoin, which first and foremost is a great tool for remittances. As a rule, international Bank transfer take around 4 percent of the amount. For transfers within the country also incur a fee, which largely depends on the chosen Bank.
Source: Smallbiztrends
It is Also interesting to give a comparison of Bitcoin transactions with the payment service type . Of course, Binance wouldn't transfer the money through , and the payment gateway are unlikely to be able to handle such transaction. However, theoretical calculations of the Agency Salescalc.com for the transfer of 600 million PayPal will take a Commission in the amount of 17.5 million dollars. More data to search for .
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