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PRO tip: Use Stellar Lumens (XLM) to transfer your coins between exchanges.

I wanted to buy a specific coin that was only available on Binance and Kucoin. I transferred some ETH from my Coinbase Pro account to Binance. After the transferring the money, I noticed I missed quite a bit of ETH. I was so stupid that I didn’t pay any attention to the withdrawal fee…

Then I noticed that the price of Stellar Lumens (XLM) is quite stable and it’s almost free to withdraw it from any exchange! So I swapped my coins on Coinbase from ETH -> XLM. Then I transferred my XLM to Binance. The transfer fee on XLM was 0.00001 XLM, that’s $0,000005! After XLM arrived on Binance I swapped my XLM to ETH. I know it’s kind of hassle, but it saved me a few dollars!

For example, it now costs you $0.02 to withdraw from Binance:
https://i.ibb.co/mXvxCDJ/image.png

On most exchanges it costs you a few penny, you can use [this site](https://withdrawalfees.com/coins/stellar) to check the withdrawal fees:
https://i.ibb.co/pQW5CJm/image.png

I know that there are other options such as NANO. Unfortunately, Coinbase does not have that coin.

This is also a very educational way to see how crypto transfer works. One last thing I want to mention is: DO NOT FORGET to fill in the memo with the correct information, otherwise your XLM will not arrive at the exchange!



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32 Comments

  1. I moved about 10 different cryptos from multiple wallets to multiple exchanges about a week ago. XLM was the cheapest and absolute fastest crypto out of the ones I used.

  2. Yup, XLM is my go-to for exchanging. Basically instant and no fees. Plus it’s just a great coin to hold onto I think so having a chunk sitting around for future trades isn’t a bad idea.

  3. XLM, ALGO, EOS, CELO are super fast with very little to none transaction fees, and mostly stable. I have used EOS to trade for some ETH tokens in the past.

    XRP is another great one, but coinbase doesn’t support it.

  4. You can also transfer stablecoins out of Binance using the TRX network for $1 flat fee. Kucoin and a couple of other exchanges support TRX stablecoin deposit addresses.

    Useful if you want to transfer some USDT to YOLO shitcoins on Kucoin or OKEx without swapping currencies too much.

  5. Why not use USDT TRC-20? The fee is only $1.If I am sending a big amount between exchanges why would I pay the fee to swap to xlm+ the fee to swap back from xlm and also expose myself to volatility?

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