<p>I'm new to this, I've read a lot about it and I've decided to start saving money on Bitcoin by buying a fixed amount every month.</p>
<p>I know it is safer to store my Bitcoin on a private wallet instead of having it on the exchange I'll use to buy. But I know that moving it from the exchange to the wallet will incur a blockchain fee.</p>
<p>It feels to my that by moving Bitcoin to my private wallet each month I'll be constantly paying and would be cheaper to just store it on the exchange.</p>
<p>What are your thoughts on this? What's the must cost effective way of moving it to my wallet? Will doing this once a month be as costly as doing it in larger amounts once a year?</p>
<p>I'm looking to hold for a long time.</p>
<p>Any advice will be much appreciated. Best.</p>
<p>PS: I've done my research before asking here but couldn't find a good answer.</p>

<wallet><transaction-fees><exchanges>
Is periodically transferring Bitcoin from an exchange to a private wallet cost effective?
Carlos Rodríguez
# Is periodically transferring Bitcoin from an exchange to a private wallet cost effective?

(Asked by: username_0 on 2020-12-04)

I'm new to this, I've read a lot about it and I've decided to start saving money on Bitcoin by buying a fixed amount every month.

I know it is safer to store my Bitcoin on a private wallet instead of having it on the exchange I'll use to buy. But I know that moving it from the exchange to the wallet will incur a blockchain fee.

It feels to my that by moving Bitcoin to my private wallet each month I'll be constantly paying and would be cheaper to just store it on the exchange.

What are your thoughts on this? What's the must cost effective way of moving it to my wallet? Will doing this once a month be as costly as doing it in larger amounts once a year?

I'm looking to hold for a long time.

Any advice will be much appreciated. Best.

PS: I've done my research before asking here but couldn't find a good answer.

**Tags:** wallet, transaction-fees, exchanges


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## 0 answers

