$670M Bitcoin Transaction Pays 26c Fees. Try That, Gold – BeInCrypto

As a vehicle for moving huge sums of money around the world quickly and cheaply, Bitcoin

Many proponents of various altcoins make a big deal about Bitcoin’s supposedly high transaction fees. Admittedly the fees on Bitcoin are higher than they are on other blockchain-based digital currencies. However, so too is the level of security Bitcoin users can be assured of.

There Is No Other Way to Safely Send Hundreds of Millions for Less Than a Dollar

BeInCrypto has reported many times before about massive Bitcoin transactions with minuscule fees. In February, there was the example of a $424 million transaction that required just a 68c fee.

Today’s mega-whale transfer trumps that though. As highlighted by cryptocurrency industry observer sunnydecree (@sunnydecree) in the following tweet, one Bitcoin user just sent a massive $670 million for just 26c.

The unknown individual or company sent a total of 106,857.24571944 Bitcoin between two wallets at around 20:55 GMT on April 1. As the analyst points out, this would be impossible with the asset that many people compare Bitcoin with — gold.

Recent gold repatriation efforts around the globe show the sheer commitment moving huge quantities of gold requires. As BeInCrypto reported earlier in 2020, recent years have seen the Netherlands, Turkey, Germany, and Poland all undertake vast logistics projects to shift their bullion.

The operations themselves cost billions and take years to complete. Being a physical asset, gold needs guarding…

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