How to minimize paxum exchange fees?

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  • feetnerd
    Confirmed User
    • Nov 2021
    • 123
    #1

    How to minimize paxum exchange fees?

    how to minimize paxum withdrawal exchange fees?

    usually to withdraw 20k I pay $600 of exchange fees, that is insane, I wonder how you do it?
    Tags: None
    • LetterTwenty7
      Porn SEO
      • Feb 2015
      • 1825
      #2
      It would be useful to share more info, e.g. your location, what's the currency, etc. But overall, I think paying (losing) around 3% on any type of transaction is more/less pretty standard unfortunately.
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        • Sly
          Let's do some business!
          • Sep 2004
          • 31376
          #3
          How are you transferring it? I just pay the wire fee I believe.
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            • WiredGuy
              Pounding Googlebot
              • Aug 2002
              • 34512
              #4
              Keep the funds in the same currency, transfer it to your account and then do foreign exchange with your bank or forex broker rather than having Paxum do the exchange.
              WG
              I play with Google.

                Comment

                • Denny
                  Too lazy to set a custom title
                  • Feb 2005
                  • 17389
                  #5
                  Originally posted by Sly
                  How are you transferring it? I just pay the wire fee I believe.
                  Originally posted by WiredGuy
                  Keep the funds in the same currency, transfer it to your account and then do foreign exchange with your bank or forex broker rather than having Paxum do the exchange.
                  WG
                  Not everyone is in the US. Paxum won't send USD to European bank account. You will first need to convert USD to EUR currency for example, then you can send it by wire or EFT to your bank account.

                    Comment

                    • WiredGuy
                      Pounding Googlebot
                      • Aug 2002
                      • 34512
                      #6
                      Originally posted by Denny
                      Not everyone is in the US. Paxum won't send USD to European bank account. You will first need to convert USD to EUR currency for example, then you can send it by wire or EFT to your bank account.
                      For those countries, you should be able to do USD to USDC/USDT (crypto) and then liquidate it for the local currency.
                      WG
                      I play with Google.

                        Comment

                        • Denny
                          Too lazy to set a custom title
                          • Feb 2005
                          • 17389
                          #7
                          Originally posted by WiredGuy
                          For those countries, you should be able to do USD to USDC/USDT (crypto) and then liquidate it for the local currency.
                          WG
                          This conversion on Paxum still will cost you some % (I think it's around 2-3%).

                            Comment

                            • BigFurry
                              Confirmed User
                              • Nov 2003
                              • 1574
                              #8
                              Yeah it's really unfortunate that they do not send USD Wires to Europe and force you to exchange to EUR. I'd use Paxum more if they enabled USD Wires.

                                Comment

                                • todservices
                                  Confirmed User
                                  • Mar 2014
                                  • 472
                                  #9
                                  Get paid in crypto

                                  i get a $2,000 payment in litecoin, I pay like $0.5 transaction fee

                                  Then, to get the money to your bank account, just use Binance or Kucoin.
                                  It costs €1 for each Binance withdrawal to EU bank account.

                                    Comment

                                    • CaptainHowdy
                                      Too lazy to set a custom title
                                      • Dec 2004
                                      • 94727
                                      #10
                                      Minimize Paxum usage . . .

                                        Comment

                                        • emmasexytime
                                          Confirmed User
                                          • Jan 2015
                                          • 4512
                                          #11
                                          Originally posted by todservices
                                          Get paid in crypto

                                          i get a $2,000 payment in litecoin, I pay like $0.5 transaction fee

                                          Then, to get the money to your bank account, just use Binance or Kucoin.
                                          It costs €1 for each Binance withdrawal to EU bank account.
                                          Really? No spread on any of it?
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                                            • Ruriko
                                              Confirmed User
                                              • May 2013
                                              • 149
                                              #12
                                              Just be glad that you're able to withdraw mean while paxum still can't withdraw EFT in my region

                                                Comment

                                                • todservices
                                                  Confirmed User
                                                  • Mar 2014
                                                  • 472
                                                  #13
                                                  Originally posted by emmasexytime
                                                  Really? No spread on any of it?
                                                  Transaction Fees
                                                  Another aspect that Litecoin has sought to improve upon is transaction fees. With Litecoin, users can expect to pay around $0.03 or $.04 on average in transaction fees. Compare this with Bitcoin’s more expensive $7.60 average transaction fee.

                                                  4 cents

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