Binance raised withdrawal fees again? - page 4.

bryant.coleman

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Quote from: Little Mouse on April 09, 2021, 01:00:40 AM

The fee was increased long ago, exactly after few days when they first started to charge $0.20 USDT. This was a stupid decision in my opinion and from some point of view, it was totally biased decision to encourage the usage of their BUSD.

Why should they encourage the usage of USDT, which is essentially a stablecoin token issued by one of their competitor exchanges (Bitfinex)? I am quite surprised that they still allow USDT in Binance platforms. Now regarding the high withdrawal fee, I don't think that $0.20 will discourage a lot of users from doing transactions with USDT. I have seen a lot of users still transacting with USDT in ERC-20 Blockchain, despite the very high fee (~$20).

Little Mouse

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Marketing Campaign Manager |Telegram ID- @LT_Mouse

The fee was increased long ago, exactly after few days when they first started to charge $0.20 USDT. This was a stupid decision in my opinion and from some point of view, it was totally biased decision to encourage the usage of their BUSD.

Bravehash

member

Activity: 196

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Not new, I've been paying 1$ for trc20 withdrawal on binance since last month now, I don't understand why binance decide to raise Tron USDT withdrawal fee when Tron coin withdrawal costs 1 TRX on binance, I withdraw USDT TRC20 from CoinEX and they charge me 0.3, it's the cheapest I've seen but since I prefer binance service I have no choice

cabron

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https://www.betcoin.ag

Its not surprising after all they are the most trusted exchange so far. Any changes CZ would do will make people complain but I'm sure you will still continue to use Binance. Its the biggest in crypto that eats up all the volume. Influencers on youtube promotes Binance even when they get no pay for it. It's a big difference in the fee though that USDT (TRC20) withdrawal will cost $1.

tbct_mt2

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Merit: 838

Quote from: tsaroz on April 08, 2021, 11:27:49 PM

The withdrawal fees were changed from 0 to 0.2 a month ago for the withdrawal of USDT as TRC20. I went with withdrawing some USDT from binance to Kucoin to buy some velo but the withdrawal fees taken were $1. It's absurd how much binance is charging for withdrawal when the fees from blockchain are most probably free for binance as they are super representative on tron blockchain.
I use binance for it's cheaper transaction fees but these these unnecessary withdrawal fees are going to be a push factor as newer exchanges too are coming with aggressive promotions.

Your finding is right. Binance increase their withdrawal fee for USDT on all chains, not only increase on TRC-20 chain.

The USDT withdrawal fee is:
- BEP2: $1
- BSC: $0.8
- ERC20: $20
- TRC20: $1
- OMNI layer: disabled.

When fee on TRC20 is $0.2, fee on BSC is $0.1
Binance Adjusts Withdrawal Fees for BUSD and USDT on Selected Networks. I can not find their news for the newest adjustment on withdrawal fee. Huh

tbone777

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Binance want more and more money, as usual. And they want to push you to use BUSD

tsaroz

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DGbet.fun - Crypto Sportsbook

The withdrawal fees were changed from 0 to 0.2 a month ago for the withdrawal of USDT as TRC20. I went with withdrawing some USDT from binance to Kucoin to buy some velo but the withdrawal fees taken were $1. It's absurd how much binance is charging for withdrawal when the fees from blockchain are most probably free for binance as they are super representative on tron blockchain.
I use binance for it's cheaper transaction fees but these these unnecessary withdrawal fees are going to be a push factor as newer exchanges too are coming with aggressive promotions.

Topic: Binance raised withdrawal fees again? - page 4. (Read 508 times)