Baleia moves BRL 2 billion in bitcoin and pays only BRL 424 in fees

Charlie Taylor

cryptocurrencies are cheap ways to transfer large amounts.

How much would a billion dollar transaction outside Bitcoin cost?

An international transaction using the traditional banking system can cost from 1.5% up to 6% of the amount transacted only in administrative fees, plus the IOF charged by the Federal Revenue which varies between 0.38% and 1.1%. $2 billion would cost, to be moved at a rate of 1.5%, R$30,000,000, plus the 0.38% tax, R$37,600,000. Meanwhile, Bitcoin miners don't care about the amount moved, only about the size in bytes that the transaction will occupy in the block and how much they earn for the space occupied in the blockchain.https://www.blockchain.com/btc/block/694294It is worth noting that the billionaire, despite his haste, was using a Segwit address (with the beginning bc1), which saved the space used in the blockchain. Read too:Buy and sell Bitcoin and other cryptocurrencies on Coinext
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