MultiversX Tracker is Live!

Is using LN to move BTC off exchange as a bridge to On-chain cold storage a good idea?

Bitcoin Reddit

More / Bitcoin Reddit 73 Views

I managed to go from the Binance exchange to Blink wallet and from Blink to Muun and then to my On-chain address and here's the walk through:

  1. Withdrawn 5000 sats from Binance to Blink: 100 sats in fees
  2. Sent 4975 sats from Blink wallet to Muun wallet: 25 sats in fees
  3. Sent 3800 sats to an on-chain address from Muun: 1171 sats in fees

Total fees so far: 1296 sats

I'm ok with how this turned out to be, the thing is I don't know if I tried sending a bigger amount say 500000 sats using this stream, would it still be worth it in terms of fees payed? What do you think?

I.e: Direct on-chain withdrawal on Binance right now is 0.00012 BTC or 8.01$ while the average network tx fee is 8 sat/vB or 0.75$

submitted by /u/Conscious-Bag-5134
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments