Platform A:
$300 - 1% fee = $297
$297 / 0.0005 BTC = 594 BTC
Platform B:
$300 - 0.5% fee = $299.5
$299.5 / 0.00045 BTC = 665.56 BTC
In this example, Platform B offers a higher amount of BTC despite having a slightly lower exchange rate due to its lower fee structure.
To summarize, understanding the cost of exchanging $300 for BTC involves carefully considering both the exchange rate and transaction fees. By choosing the right platform, comparing rates, ensuring security, and tracking costs, you can optimize your investment strategy.
How often should I check my transaction fees?
You should review your transaction fees periodically, especially if you plan to engage in frequent exchanges or transactions, as fees can fluctuate over time based on market conditions and platform policies.
Account $10,000, risk 1% → $100 risk per trade. Entry $50, stop $48 → $2 risk/share → 50 shares. Target $54 (2R). If stopped, −$100; if target hits, +$200 (before costs).
Use an amount you can afford to lose while learning a repeatable process.
Decide a fixed risk % per trade, then divide by the price distance to your stop.
Match your timeframe: DAIly/weekly for swing; weekly/monthly for long-term.
Thesis, entry/exit, risk (R), emotions, result, next improvement.