100USDT to withdraw USDT from HitBTC

TryNinja

legendary

Activity: 2758

Merit: 6830

Quote from: hitbtc on March 29, 2018, 08:49:28 AM

With HitBTC, fees are calculated upon the network load. We aim to make sure our users' transactions are confirmed in the network and delivered to their destinations promptly.

Besides, any cryptocurrency exchange features a complex combination of processes that uses the blockchain a lot. Meaning that withdrawal fees include some of intermediary fees paid on the exchange side for moving your funds. That's the reason why fees related to withdrawing coins from an exchange can be slightly higher than regular network fees in your wallet.

Just "slightly higher than regular network fees"?

Bitcoin fees are baring 1-2 sat/byte (less than ~$0.1), while your exchange is charging 80 times (~$8) for Bitcoin withdrawals and $100 for USDT withdrawals (100 times). No one will swallow that excuse.

plsharevme003

newbie

Activity: 4

Merit: 0

dun make so many excuses, your exchange fee is must higher then binance, binance usdt withdrawal fee only us4.5, your side is us100??? what a joke and poor exchange.

hitbtc

sr. member

Activity: 525

Merit: 250

With HitBTC, fees are calculated upon the network load. We aim to make sure our users' transactions are confirmed in the network and delivered to their destinations promptly.

Besides, any cryptocurrency exchange features a complex combination of processes that uses the blockchain a lot. Meaning that withdrawal fees include some of intermediary fees paid on the exchange side for moving your funds. That's the reason why fees related to withdrawing coins from an exchange can be slightly higher than regular network fees in your wallet.

maeusi

sr. member

Activity: 462

Merit: 254

Quote from: TryNinja on January 29, 2018, 08:39:32 PM

Just out of curiosity, why do you want to withdraw USDT? I know it doesn't justify the fee of 100 USDT, but remember that to send USDT you also make a BTC transaction. And even if the fees are lower as f*ck (I sent a tx with a 7 sat/byte or ~$0,1 that got confirmed in the next block), we all know how bad all exchanges are at calculating fees.

That's what I would do:

1. Buy a different coin that has lower withdraw fees and it's available at Binance (my fav exchange).
2. Send to my Binance account.
3. Exchange to USDT or to BTC->USDT if there is no direct pair.
4. Withdrawal for a fee of 22 USDT (still kinda higher but lower than Poloniex and HitBTC).

What about dogecoin? How many dogecoins do they take as fee? Dogecoins have a quite stable price +- 10%, stable network and cheap fees. On Yobit the withdraw fees of doge are very expensive, but they are maybe cheaper on HitBTC.

Quote from: Winstar78 on January 29, 2018, 05:17:06 PM

Did you read my message?

HitBTC has a 4x Poloniex fee to withdraw (100 vs 25), and 25 vs zero to DEPOSIT (no exchange has deposit fees, Hitbtc has...)

Yes I read your post. You talked about a fee of 25$.

Quote from: Winstar78 on January 29, 2018, 04:17:05 PM

This is only the last ridicolous fee I got aware of.

it's so ridicolous that it's starting to be funny.

P.s.: they also have a DEPOSIT fee of 25USDT.

probably they are trying to earn back coins hacked?

Your headline suggerated me, that you wanted to withdraw 100$ and had to pay 25$ fee.

TryNinja

legendary

Activity: 2758

Merit: 6830

Just out of curiosity, why do you want to withdraw USDT? I know it doesn't justify the fee of 100 USDT, but remember that to send USDT you also make a BTC transaction. And even if the fees are lower as f*ck (I sent a tx with a 7 sat/byte or ~$0,1 that got confirmed in the next block), we all know how bad all exchanges are at calculating fees.

That's what I would do:

1. Buy a different coin that has lower withdraw fees and it's available at Binance (my fav exchange).
2. Send to my Binance account.
3. Exchange to USDT or to BTC->USDT if there is no direct pair.
4. Withdrawal for a fee of 22 USDT (still kinda higher but lower than Poloniex and HitBTC).

jhenfelipe

hero member

Activity: 1372

Merit: 647

Withdraw fees in HitBTC are really high for most coins plus deposit fees were added since late December if I'm not mistaken. One option is to exchange it to another crypto first (with a much lower fee) and send to other exchange with lower USDT fee to convert and withdraw in USDT.

However, it's not sure if you'll experience a smooth withdrawal.

Winstar78

member

Activity: 365

Merit: 14

Did you read my message?

HitBTC has a 4x Poloniex fee to withdraw (100 vs 25), and 25 vs zero to DEPOSIT (no exchange has deposit fees, Hitbtc has...)

maeusi

sr. member

Activity: 462

Merit: 254

Quote from: Winstar78 on January 29, 2018, 04:17:05 PM

This is only the last ridicolous fee I got aware of.

it's so ridicolous that it's starting to be funny.

P.s.: they also have a DEPOSIT fee of 25USDT.

probably they are trying to earn back coins hacked?

No, I just looked on Poloniex. They are known to have moderate fees and it is also showing 25$ independent from withdraw amount. So it seems to be the network fee and having nothing to do with HitBTC.
But there are doubts on USDT to cover all funds of market cap.

Winstar78

member

Activity: 365

Merit: 14

This is only the last ridicolous fee I got aware of.

it's so ridicolous that it's starting to be funny.

P.s.: they also have a DEPOSIT fee of 25USDT.

probably they are trying to earn back coins hacked?

Topic: 100USDT to withdraw USDT from HitBTC (Read 244 times)