Million Dollar Cryptocurrency Transfers for the Price of Coffee

Inflation, interest rate increases and the rise of the dollar For reasons such as these, we have put cryptocurrencies aside for now. However, although the cryptocurrency world has been in the red in recent weeks and months, it is making impressive developments every day.

Today we forget the recent declines and historically recorded 5 cryptocurrency transfers with the largest and lowest transaction fees we will see.

On Friday, April 10, 2020, the largest and lowest-fee Bitcoin transfer in history took place.

• Bitcoin Amount: 161,500 BTC
• Dollar Value: $1.1 billion
• Transaction Fee: 0.68 dollars, 4.5 Turkish lira at that time
• Processed by: Bitfinex

The largest Bitcoin transfer transaction in history, in which 161,500 Bitcoins were sent, took place with a transaction fee of only $0.68. Bitfinex Chief Technology Officer Paolo Ardoinoexplained that they made this transaction to fill the wallets of their exchanges.

In February 2020, $1.033 billion worth of Bitcoin was sent by an exchange for a ridiculous fee.

• Amount of Bitcoin: 106,857 BTC
• Dollar Value: $1.033 billion
• Transaction Fee: 1.43 dollars, 8.6 Turkish lira at that time
• Processed by: Blockchain.com

The second largest cryptocurrency transfer of all time took place between mysterious wallets. Solving the mystery of this transfer process it took 5 days.

It was determined that the mysterious wallets that carried out this transaction had sent the same amount of Bitcoin to each other in previous months. This is probably that an exchange moves its funds from one wallet to another is showing.

This process Associated with Blockchain.com exchange and a search for the wallet address that made the transaction, It reveals a GitHub page linking this address to Blockchain.info, now Blockchain.com.

Bitcoin worth $1 billion transferred on Friday, September 6, 2019 caused confusion.

• Amount of Bitcoin: 94,504 BTC
• Dollar Value: Approximately $1 billion
• Transaction Fee: 1.7 dollars, 9.7 Turkish lira at that time
• Processed by: Unknown

The third largest transaction represents a transfer of funds from one private user to another with a very low fee. About this transaction, a well-known Bitcoin commentator Max Keiser said, “The transaction may involve a financial institution” told.

Additionally, the Bitcoin price immediately after this transfer dropped sharply: It fell from $10,654 on September 6 to $8,140 on October 6.

On Monday, October 14, 2019, Bitstamp CEO made fun of the transaction fees being too low.

• Bitcoin Amount: 107,848 BTC
• Dollar Value: Approximately $894 million
• Transaction Fee: 12.65 dollars, 73 Turkish lira at that time
• Processed by: Bitstamp

Cryptocurrency exchange Bitstamp moved 107,848 BTC to a cryptocurrency custody provider with a very low transaction fee. Bitstamp CEO Nejc Kodričthis transaction fee was then “is equal to the price of a coffee in the USA” told.

There are doubts about the exchange sending Bitcoin with a very low transaction fee on Sunday, February 16, 2020.

• Amount of Bitcoin: 48,952 BTC
• Dollar Value: Approximately $491 million
• Transaction Fee: 0.66 dollars, 4 Turkish lira at that time
• Processed by: Bittrex

It is claimed that the fifth largest transaction ever made was a transfer made by the cryptocurrency exchange Bittrex in order to increase its transaction volume. The transaction fee was only $0.66.

Such large transactions that have entered the history of cryptocurrencies, It proves that millions of dollars can be made very quickly with cryptocurrencies for ridiculous fees. The reason behind sending such high amounts of money with such low fees is Blockchain technology without intermediaries is coming.

Considering that a $1 million bank transfer could cost between $30 and $50, The appeal of cryptocurrencies is better understood.