Bitcoin Whale Moved 44,000 Bitcoins Worth $310 Million, With A Fee Of Only $0.32

The advantages of using cryptocurrencies is that, people can send hundreds of millions of dollars worth of digital cash, or even a billion of dollars or more, very easily.

And that is also without having to request any permission from any bank, financial regulator, or world government.

What's more, they can also pay a lot less to move their assets, if compared to when storing inside banks.

This can be seen when a cryptocurrency whale moved 44,000 Bitcoins worth more than $310 million, and only paid a 0.00004551 Bitcoin ($0.32) in transaction fees.

The movement of this large fund was detected by Twitter-based transaction monitor @whale_alert:

Unlike traditional banking system, Bitcoin users have the freedom to choose their own transaction fees, with higher fees generally attached to faster processes than those with smaller fees.

And this Bitcoin whale in paying a mere $0.32 is considered incredibly cheap, especially when compared to large movements previously detected.

Previously in July, a whale moved $780 million worth of Bitcoins. Then back in May, another whale moved $212 million worth of Bitcoin and paid only $3.93. Two months later, another whale initiated multiple $450 million transactions, and paid only $400.

Large cryptocurrency exchanges and trading platforms have also sent Bitcoin transactions in the range of hundreds of millions of dollars in the past, also with small fees.

Binance for example back in November 2018, sent $600 million in Bitcoin with a $7 fee.