How to move Bitcoins between exchanges faster & cheaper
A major hurdle for Bitcoin right now is that it’s considerably more expensive and quite a bit slower than many of the other cryptocurrencies out there. This isn’t a huge problem if you’re trading on just one exchange or if you’re planning to ‘HODL’ in your own wallet. But what if you are wanting to move the Bitcoins from one exchange to another frequently to try and take advantages of price diferences?
The answer is quite simple, Instead of sending Bitcoin from exchange to exchange, Change it one of the alternative currencies that has cheaper transaction fee’s and a faster network THEN move it between exchanges.
Right now, the most widely used alternative among exchanges is Litecoin.
Litecoin is not technically a fork of Bitcoin, but for the most part a direct copy of Bitcoin. The difference is that, despite the network being almost identical to Bitcoin, it doesn’t share the same transaction history. This is know as a Project Fork where they take the source code and create a whole new cryptocurrency network and is currently trading at $233 a coin