The Bitcoin Fee Foe

No matter how you buy the peer-to-peer cryptocurrency flagship the fees will add up. Commission or trading fees are a given.

Sending Bitcoin to a friend? Don’t worry there is a fee for that too.

The fees add up quickly.

The Wall Street argument that Bitcoin is ready for mainstream adoption is many years away. With asset price fluctuations like a roller coaster and fees above the 4% threshold of Visa and MasterCard the small investor is in for hefty surprise.

Fees are also deducted to send Bitcoin, Ethereum or any cryptocurrency in the way of network fees.

Ever wonder how that $3.00 coffee wound up costing you over $5?

The fee foe again.

Small purchase of the actual asset or any item with that asset can add up.

Don’t even mention that the 2014 cup of coffee would now be worth over $1,000. Hindsight is the wealth creation tool of the poor.

Secure your crypto and use cold storage whenever possible. Use MFA to secure your account as well.

As for fees, shop around. When an asset trades in a range fees can make up a substantial portion of your gains or losses.

Bitcoin has been rangebound and who knows if the next leg will be up or down. Stay safe online and off.

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