Bitten by Transaction Fees

As I have been powering down my STEEM account, I have been cashing out. Today, I decided to convert my $6 of STEEM straight into Bitcoin. Ouch. All I got deposited was about $3. A good portion of my withdrawal got eaten up by BTC fees. I don...

6 months ago, comments: 2, votes: 9, reward: $0.46

As I have been powering down my STEEM account, I have been cashing out. Today, I decided to convert my $6 of STEEM straight into Bitcoin. Ouch. All I got deposited was about $3. A good portion of my withdrawal got eaten up by BTC fees. I don't think I lost much to Blocktrades in the conversion.

I think my best option is to send my STEEM straight to Binance and then exchange for BNB, which I can transfer to my Crypto.com wallet. Transaction fees on that were not noticeable when I did it.

However, since I was already alert from having been slapped with transaction fees, I have learned that Dogecoin and Dash have very low transaction fees. The only trouble with these is that they'd eventually have to be exchanged for a more desirable crypto. ETH transaction fees can also be low.

I may also benefit by making my transactions larger, perhaps cashing out every two weeks instead of every week. Also, I could simply send my STEEM straight into Hive.

I have decided that I will be splitting my Hive rewards 50/50 instead of powering up 100%. So, it will be important to figure out the most efficient way to take out my rewards.

It's funny how every time I try to be clever life slaps me on the head to remind me to be humble.

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