01-07-2018, 01:49 PM
Well the ETH blockchain can apparently get expensive when under a lot of stress, but there is nothing we can do about that. I found this out the hard way since I set a pretty big transfer in the bitcoin blockchain with a relatively low fee... and now it's stuck waiting for days. Well, it should either go through or cancel in the next week or so.. or that's what I hear. Needless to say, the idea that bitcoin could provide fast and cheap transfer went out of the window when the blockchain got busy due to investors moving the money... I can't imagine the fees if a lot of people were using bitcoin for regular financial transactions like paying at the grocery store. Gladly most blockchains are not at this level and the transfers are still fast and cheap... but can any of them actually have the computation power required to make it work in a large scale?
But apparently Exodus does not allow you to decide the fee, but rather just automatically goes with a high fee so the transfer gets executed fast. They even mention this on their website. It's definitely the easiest way and certainly won't make a big difference if you don't move ETH in and out often. It still seems like the easiest wallet to use and supports many different coins, so it's still at the top of my list.
Minergate is mainly made for people who want to mine with their own rigs. It actually has a nice software that makes everything ridiculously easy, just install the software, choose which crypto(s) to mine, adjust the settings (how many cores from CPU, GPU intensity) and you're done. Even has a "smart mine" feature where it automatically starts mining the crypto with the best estimated profit for your hashrate, though I imagine you'd want to stick to just one currency unless you have a really powerful rig.
I've heard that the software is not the most efficient one. But again, it's easy to set up and use for a first timer. Not a single command line, basically you're mining in 2 minutes and zero hassle. They have some sort of a referral system, here is mine in case someone wants to sign up: https://minergate.com/a/da2faf272a5cf8da3ee1a656 To be honest I haven't done any research, I don't know what benefits we (I?) get if you use this link.
They also offer cloud mining for bitcoin and monero, I haven't looked into those as I'm currently not looking to invest any money.
Overall, I have to say it's been an interesting couple of days. I've learned a lot, though I must say that this world of cryptos is a lot more complicated than I thought. And I'm damn pissed off about the pending for days transaction with bitcoin but it's my own fault for choosing to pay $5 for the transfer instead of the $17 that was quoted as the "express" price. Hopefully in a few days I get all the accounts activated and my money moved so I can get the right allocation of different cryptos to hold.
But apparently Exodus does not allow you to decide the fee, but rather just automatically goes with a high fee so the transfer gets executed fast. They even mention this on their website. It's definitely the easiest way and certainly won't make a big difference if you don't move ETH in and out often. It still seems like the easiest wallet to use and supports many different coins, so it's still at the top of my list.
Minergate is mainly made for people who want to mine with their own rigs. It actually has a nice software that makes everything ridiculously easy, just install the software, choose which crypto(s) to mine, adjust the settings (how many cores from CPU, GPU intensity) and you're done. Even has a "smart mine" feature where it automatically starts mining the crypto with the best estimated profit for your hashrate, though I imagine you'd want to stick to just one currency unless you have a really powerful rig.
I've heard that the software is not the most efficient one. But again, it's easy to set up and use for a first timer. Not a single command line, basically you're mining in 2 minutes and zero hassle. They have some sort of a referral system, here is mine in case someone wants to sign up: https://minergate.com/a/da2faf272a5cf8da3ee1a656 To be honest I haven't done any research, I don't know what benefits we (I?) get if you use this link.
They also offer cloud mining for bitcoin and monero, I haven't looked into those as I'm currently not looking to invest any money.
Overall, I have to say it's been an interesting couple of days. I've learned a lot, though I must say that this world of cryptos is a lot more complicated than I thought. And I'm damn pissed off about the pending for days transaction with bitcoin but it's my own fault for choosing to pay $5 for the transfer instead of the $17 that was quoted as the "express" price. Hopefully in a few days I get all the accounts activated and my money moved so I can get the right allocation of different cryptos to hold.