If you’re sitting on a large amount of cryptocurrency and want to make a withdrawal, you might want to stop and check out the fees. When transferring and converting, the amount you’ll need to fork over to the service providing the exchange can be astounding if you aren’t careful.
Dollar Coin, commonly referred to as DLC, is included among the currencies you’ll be able to exchange across some of the bigger token services.
We’re going to determine how much you need to pay for a withdrawal at a few sites. Don’t part with your Dollar Coin just yet.
How Should You Withdraw Dollar Coin on a Website?
The first time you do anything with Dollar Coin, it’s probably going to involve a withdrawal or exchange. Depending on what exactly you want to withdrawal, you might go for two different types of transactions.
The more common method is known as a flat exchange. In this type of transaction, you’ll directly transfer different types of government-sponsored currency in exchange for cryptocurrencies, and vice versa. U.S. dollars, Euros, and British pounds are commonly accepted as an exchange at reputable cryptocurrency exchange locations.
Otherwise, you’ll be engaging in crypto-to-crypto exchanges. These are where you might, for example, swap Dollar Coin for Bitcoin, or the other way around. For certain kinds of cryptocurrencies, you’ll need to determine if you need to do both a flat and crypto exchange. This might be a requirement due to laws and regulations contained in the countries involved in the exchange.
If you need to determine which kind of exchange, and later, what the withdrawal fees for Dollar Coin are, you’ll need to figure out the important factors when making a transaction. Do you know about the safety and security of the website? Are you aware of what kind of trading pairs are available? What about the expertise you need to perform an exchange, or if customer support is readily available?
You might not consider these questions at first, but they’re important when it comes to withdrawal fees. Dollar Coin and other kinds of cryptocurrency might not be on the list of well-known choices at each exchange location.
Which Sitesa Can You Use to Withdraw Dollar Coin?
Finding Dollar Coin as a specific entry in accepted cryptocurrencies at many exchange sites proved difficult. In fact, finding any information on the staying power of Dollar Coin was a chore, and you’re not sure about the long-term viability of this format.
With that said, the market is constantly in a state of flux. You could wake up tomorrow, and Dollar Coin will be at the top of the list of everyone’s “to buy” notes. You’re going to look at several of the best places to withdraw funds in exchange for cryptocurrency.
Keep in mind that any of the rates mentioned below are subject to change. For the most up-to-date rates, be sure to check out each site yourself before making any Dollar Coin withdrawals.
We’ll start with what is far and away the best coin exchange site for people just starting out with Dollar Coin. Coinbase is located in San Francisco and has an incredibly easy-to-use interface for experts and beginners alike.
Rather than purchasing Dollar Coin from other people, Coinbase allows you to directly invest in any form of cryptocurrency on their website. In a legal sense, this actually makes Coinbase a brokerage, so be sure that you keep this in mind. The site formerly known as Global Digital Assex Exchange is now referred to as Coinbase Pro. Here, you’ll find an updated UI, along with a bunch of new features that make Coinbase one of your favorite spots for Dollar Coin withdrawals.
Right now, there is a 1.49% transaction fee on all bank purchases made using Dollar Coin. This is the same fee regardless of the amount of the withdrawal. If you’re using a credit or debit card to process your Dollar Coin transaction, the fee goes up to 3.99%.
While this can add up quickly if the dollar amount is high, the percentage is incredibly low compared to other brokerages seen. It’s not uncommon to find other sites charging up to 15% for one transaction. It’s just another reason why it’s best to prefer Coinbase for all your Dollar Coin needs.
Lately, Coinbase has shown interest in expanding its number of cryptocurrency offerings. This includes Ethereum Classic, Cardano, and Stellar Lumens. Any of these can be chosen when you make Dollar Coin transactions in case you’re interested in playing the market some more.
Using Coinmama is not quite as easy as what you can go through with Coinbase, but you won’t have any trouble withdrawing for Dollar Coin transactions. They work with all of the other common crypto formats, including Bitcoin, Ehtereum, and Liltecoin. The fees get a little higher than what you’ll see so far – using a debit or credit card involves a 5.5% transaction fee.
One thing to remember is that Coinmama does not provide its users with a wallet. You’ll need to give your own wallet address, and Coinmama will send the currency where you tell them. All you need to do is have an established wallet before setting up a Coinmama account. If you’ve been working with cryptocurrency for a bit, you probably have at least one existing wallet.
Bitpanda is based out of Europe. The company deals equally in Euros, Swiss Francs, Dash, and Ripple, along with Dollar Coin. Along with traditional options such as credit and debit cards, you can do direct bank transfers. Card transactions carry a fee of 3.98%. If you like, you can also opt to use Skrill or Neteller if you have access to them.
Bitpanda has adjusted their policy regarding blockchain and transaction fees. If you are simply sending Dollar Coin or other cryptocurrencies in the exchange, Bitpanda will not place any additional fees on the transaction. This is a great thing to remember if you’re simply swapping nominal amounts of Dollar Coin.
As with Coinbase and Coinmama, Bitpanda has a beginner-friendly design. You won’t have any trouble navigating the site to get what you want out of your Dollar Coin investment.
You may not be too familiar with CEX.IO when you’ll first begin looking at different exchange sites. The UI is a little more advanced, but if you’re looking for a spot for exchanging Dollar Coin, this is a great place to check out. They were hacked a couple years ago, but since that time, they’ve taken extra security precautions.
Over 2 million active accounts are on CEX.IO, including those who are trading Dollar Coin. While there are initially no fees visible for exchanges, you’ll notice that fees are directly attached to Bitcoin purchases. They use the premium from these transactions to keep the rest of the site from charging fees.
Truth be told, this actually works out to your advantage. If you’re just dealing in Dollar Coin, you won’t be touching anything else, and the Bitcoin purchase would come with a service fee anywhere else. If you want to skip out on withdrawal fees and know what you’re doing, CEX.IO is a great mid-level website option.
One of the newest exchange sites you’ll come across, Binance, is beginning to make waves in the community. They have an astounding amount of cryptocurrency options available for exchange, including Dollar Coin. Their headquarters is in Hong Kong, with other offices located in Japan and China.
The number of cryptocurrencies available from them is overwhelming, which is probably why they charge 10% on all transactions. This is also due to their Secure Asset Fund for Users, which goes toward the prevention of any future hacking incidents.
Which Site Is the Best for Dollar Coin?
When making withdrawals for Dollar Coin, tend to side with the place that will give you the least number of headaches possible. Anyone dealing in crypto knows that a certain amount of knowledge is needed if you’re going to be doing exchanges. If a website can eliminate some of the excesses, however, you’re already benefiting.
This is why ending up going back to Coinbase is better. Yes, there are fees involved, but for less than 5% on everything you could use to withdraw Dollar Coin, it’s hard to pass up. Binance is another great option thanks to their familiarity with many different kinds of crypto formats, but the 10% fee is a lot. We understand the need to prevent hacking, but honestly, this should be a standard in every major currency exchange site, crypto or not.
When you make a withdrawal involving Dollar Coin, you don’t want to let go of any unnecessary currency in the process of the exchange. The best sites to get your money are the ones who are upfront about the fees involved while keeping your information safe and secure. Whichever site you choose, be sure that you get as much of your exchange as possible before completing the transaction.