BTC Is Definitely NOT For Everyone
I've heard so much about BTC and most of these things aren't the kind of things that will encourage any small-time investors to invest in it. Now, for the first time after a year or two since the last time I had BTC in my wallet, let me share with you my latest experience from earning it to sending it to my Bitcoin.com wallet to swapping it to BCH. So I received $20 in BTC from Celsius on the *10th of February* of this year for transferring at least $20 worth of BCH in this wallet. I honestly didn't expect that because I thought I was not eligible for the said promo, but I got it so YAY!
Then the other day, *May 7, 2021*, I decided to stop HODLing my little amount of BTC and just swap it to BCH while the price is still ranging between $1300-$1400. So I set up my BTC address in my Celsius wallet first and waited 24 hours to complete it.
And just as yesterday, after waiting for too LONG, my BTC address was finally ready for the next phase.
As you can see, I have $25.78 in BTC after three months of HODLing it. I actually had $29 or $30 before, but I didn't bother to swap it at that time. Yeah, I was so stupid and kinda greedy coz I wanted to grow it more before swapping it to BCH. Unfortunately, it didn't happen. It even declined to $25.78, which gives me more reason not to wait and swap it to BCH instead. In short, I lost a chance to take $9-$10 worth of gain and settled for $5.
Anyway, from $25.78 down to $25.68 as the $0.10 remains in my wallet.
After sending it to my Bitcoin.com wallet and approving the confirmation in my email, it was time for another waiting game again. Then when I checked my Bitcoin.com wallet after half an hour or less, I finally received it.
I received $25.32, which means the fee was $0.36. It's a lot for a $25.68 transaction. Oh well, what do we expect? It's BTC! Now, here's the worst part of all. After seeing BTC in my wallet, I immediately tried to swap it to BCH, and guess what???
See my point here? Yes, **BTC requires you to have a minimum amount of 0.0005** before you can swap it to BCH. Not to mention, there's also a fee for that, and not sure how much will it cost me for swapping my $25 worth of BTC to BCH. *Closing thoughts* **BTC** is obviously **NOT FOR EVERYONE!** I repeat, **Bitcoin is NOT FOR EVERYONE!** If you're a small-time investor like me and are planning to start investing in BTC in the hopes to gain more in the future, you should rethink it many times before investing in it, especially if you don't have any backup money for possible emergencies. Unlike in BCH, you can even spend as low as $0.01 per transaction. Plus, even if you're sending a huge amount of BCH to someone, it won't cost you a lot. The transaction fees are too low to the point that you won't even notice it. Then I asked my **Club1BCH fam** to help me. I asked them if they could lend me a few BTC in exchange for BCH. Then I suddenly realized, sending small amounts is probably either not possible or a waste of transaction because as I've said earlier, the fees are too much to handle. Now, I have no choice but to HODL it first until I reach the minimum amount of 0.0005 BTC. Once I got enough amount, I will swap it to BCH right away to add more to my growing Bitcoin Cash portfolio. Bitcoin Cash is, NO DOUBT, the coin for everyone. No hassle, low fees with a smooth and fast transaction. Indeed, it's the perfect p2p electronic cash that will make anyone's lives easier.
30 comments
Did you try BTC to USD? Well, I'm not even buying BTC haha I'm still on BCH.
Wow.. You're the best! Okay, I'll try to swap it to USDT then send it to my main HODL wallet then swap it to BCH. Thank you. Glad this BTC was just a freebie. Not going to buy BTC either.
I don't know if it will work because I haven't tried it. You will spend more fees if you will send it to Binance (just a hunch)
Nah, I still need 0.0005. I'll just have to wait for the pump and swap it once I have enough.
Okay, hold.
To get that out you need to swap BCH to BTC to reach the minimum then swap back to BCH it will cost you double fees lol
Hahahaha. I tried swapping it to USDT and the minimum amount is still the same. I guess I need to HODL it first.
Well just hold it who knows the minimum will be reduced π
In my dreams. Lol. But will just HODL it and wait for a pump. π π
I learned that from my own experience too. I had $100 worth of BTC and I wanted to send it to an exchange and the fee was $36. I don't hold BTC now.
Crap! For real????? Glad I didn't even bother to buy BTC before when it was around $36K. π¬ $36 as a transaction fee is definitely not worth it. I tried $400 - $600 before from Nexo to Bitcoin.com wallet and the fee was probably less than $1-$2. I didn't even bother to check coz I know it won't be that huge.
Yes BTC is for big holders. I know a guy he has 9 BTC. He bought it when it was cheaper. I can't be bothered with BTC now. Here is BCH still early to earn and hold. See where we are in 5 years.
Ma'am that is my point also.BTC is money of millionaire and billionaire and BCH is money for every one.Small investors are not able to do transaction and even swap due to high fee.I have experience about BCH also.That time I not know the Payeer wallet has minimum deposit range of 0.001BCH and I withdraw 0.23$ And send to payeer wallet after spending 5 hours I not received and I decided to talk to payeer agent He describe me about BCH limit of 0.001BCH.Same I lost my BCH and lost my time.It was part of experience.1st impression is the last impression.
0.001 BCH and not BTC? I haven't tried Payeer wallet before. But yeah, before you do a transaction, be sure that you know if they have minimum withdrawal or deposit required to avoid losing your money.
Now I am more conscious about my BCH rewards before depositing I confirm itππΊπ»
Yup, TX fees when moving BTC around can maim you. Doing it via coinsph killed me! So yes, BCH is way, way better!
That's why, I prefer not to do any transactions using coinsph.
Had no choice then and I didn't know better. But that was a very expensive lesson.
Magkano ba sinend mo?
Di ko na matandaan. Parang 500 pesos worth, tapos 350 pesos yata ang fee!
Hanep yan, ay nga pala bat di mo sa Binance nisend? Pag nag spot ka siguro baka ma sell mo π€
Oo nga pala.. D ko to naisip.. Nasa utak ko isend sa main HODL ko. Tsk. Anyway, try ko isend ngayon. Salamat sa idea.
Haha, sana di mababa ang fees,
Sana. D ko pa na send. Send ko ngayon.
For rich lng yan.. Kaht sa fees ang mahal π€£
Yun nga e. Sa fee pa lang parang luging lugi ka na.
Once a legend say BTC is for rich and BCH is for everyone.
BTC is, indeed, for the rich.
Geez,I would never try to have BTC on my wallet. I can't handle the high fees. Bitcoin Cash is better.
Exactly! Bitcoin Cash is more than enough.