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I'm trying out bitcoin right now, and i just tried transferring my bitcoin worth .002 from BitGo to Bit stamp exchange.

When I received my bitcoin at bitstamp, it was worth only .00145.

I thought transferring was free? I tried searching if there are fees when depositing bitcoin to Bit stamp but it just said its free.

anyone has an idea?

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  • What do you mean by "worth .002"? Oct 13 '17 at 22:54
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Bitcoin transactions can have a transaction fee. The sender chooses the fee to pay and the transaction fees go to the miner who includes your transaction in a block. The transaction fee serves as an incentive for miners to include your transaction so it is recommended that you pay a transaction fee in your transaction.

What likely happened here is that when you sent 0.002 Bitcoin from BitGo to Bitstamp, the transaction fee for the transaction that was made was deducted from the 0.002 Bitcoin. I believe that this will happen if that was the only Bitcoin in your wallet; otherwise it would have paid the fee from other coins in your wallet.

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A fee has been taken by BitGo for the transfer. BitStamp indeed does not take fees on deposits or withdrawals. Cheers!

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