Dear Hive users,
I am hosting a server for my spkcc node at https://www.privex.io/ . It is very convenient that I can pay the server charge there with Hive using Hive keychain, that is integrated to its payment system.
This morning, I thought of trying another server that I can pay with crypto currency. It is a namecheap server. There I found that I can pay with some cryptocurrency like Bitcoin, BUSD, etc..other than Hive using Bitpay and BTCpay (fig 1) ..
So, I downloaded and installed Bitpay app to my phone and setup wallet address for Bitcoin and BUSD; I intended to try both to check how much they were convenient to use.
I decided to try with BUSD first because I thought the transferring fee would be lower than that of Bitcoin. So, I traded to get some BUSD at Binance and tried transfer it to Bitpay . However, I found that the network fee costs 3.9 BUSD (fig 2) and I need to transfer at least 40 BUSD. So, if I transfer 40 BUSD, I would receive 36.1 BUSD at Bitpay. I think the network fee is high because the BUSD is under ETH network at Bitpay. The following screen shot is for demonstrating; I have already traded my BUSD.
Then, I bought some Bitcoin to transfer to Bitpay wallet. And the network fee is high; it was 0.0002 BTC which is over 4 USDT.
For those who transfer a huge amount of cryptocurrency, it is convenient to transfer using BTC and BUSD but it is not alright for a person like me, who want to transfer a few amount to pay for server charges.
It is very nice that the Hive has very low network fee and a site like https://www.privex.io/ accepts Hive for payment . I wish other sites like namecheap.com and any other sites accept Hive for their payment in the future. And please suggest me if you have any other convenient ways to pay in crypto currency with low network fee.
Currently, I am hosting an Spkcc node and my node is quite stable. You can support the community by delegating Larynx tokens to my node 'princekham' or any other nodes at https://vue.dlux.io/me#wallet/ under 'SPK'.
Thank your for reading and for your support.
@princekham
12th Sep 2022
Myanmar