Binance USDT TRC20 has been changed from 0 to 0.20 USDT

khiholangkang

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

I don't think this is a manipulation, I've also seen some other exchanges apply withdrawal fees for USDT-TRC20. Though the exchange doesn't have its own coins like Binance's BUSD. There seems to be another reason behind this Undecided

tygeade

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There is nothing shocking about Binance doing something for free when they are the ones who will be charging the money for it, so BUSD being free makes sense, I do not know if it was free neither but since it is a centralized project that means we are talking about zero costs for them, hence why would you charge something for something free when you want it to be used as many times as possible, that is why you would make it free and get it in the hands of everyone.

On the other hand Tron is definitely not something that charges you money for small fee but when you make it bigger it starts to charge something a bit, not a lot but a bit, and if you start to deal with millions of dollars that becomes something decent charged, and why would they pay it from their pockets, you think about few bucks changes like me but reality is that binance has a lot of whales and they have to charge people, could they pay it? Surely, but they rather promote their own of course.

bluebit25

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Maybe this is a manipulation to get people to switch to more BUSD. But to me, it doesn't matter too much in current transactions. But this action shows that they can fully control it in this space, I've seen a lot of other actions that Binance used to do similar but for me a Binance lover, I feel very good.

bakasabo

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Seems that fees vary. Someone has $0.2, I've seen $0.5, $1 and $2 options also.
I have a verified account and almost dont have BNB (if it matters what kind of acc level I have) and for USDT fees looks like this:

Those who deposit and withdraw USDT frequently - does this change significantly affect you? Looks that we are approaching to a bank-like fee system, where every single movement now cost money,

SistaFista

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Quote from: makishart on February 19, 2021, 06:34:17 PM

Im a bit surprised to see that happens. it looks like the majority of people were using tron USDT and that's why binance was taking such action. BUSD is good but it's not a lot of exchange sites that accepting this stable coin.
binance can do anything with its centralized platform while people faced very big problem with the fees.
Look at this news https://cointelegraph.com/news/binance-s-brief-pause-of-ethereum-withdrawals-leaves-community-perplexed

Mate, no wonder that many people are prefer to using USDT TRC20 than other USDT, for example ERC20,
because the transaction fee on TRON blockchain network is far cheaper than the others.
I think high withdrawal fee was the reason for the brief pause of ethereum withdrawal on the news you mentioned.

Willitivity

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It's now 1 usdt per withdrawal, I don't get why Binance would like to take advantage of everything, I tried withdrawing trc20 USDT on FTX and the transaction fee is still zero, same goes for alot of exchange out there, I think Binance did this cause the deposits/withdrawal with the trc20 usdt has increased massively due to eth high gas fees, also they want their users start using their stablecoin BUSD, which is not on every exchange now like the USDT, they are just trying to promote BUSD nothing else

XUR_TIP

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Quote from: Bazlur on March 21, 2021, 10:27:07 AM

A few days ago, USDT TRC20 withdrawal from Binance, Bithumb global and Kucoin was totally free. But now Bithumb global is taking 1 USDT fee, Binance is taking 0.20 USDT fee. USDT TRC20 withdrawal from Kucoin is still free. However, I think all these withdrawal fees are relatively low and tolerable to us. Because now almost all transactions cost more than $1.

I just trade some ETH for USDT on binance and the exchange charged me 1 USDT on Tron, it's no more 0.20 USDT like OP said, I think this is climbing for unknown reasons, on coinEX tron usdt is still more cheaper than binance exchange and I don't know why

Bazlur

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A few days ago, USDT TRC20 withdrawal from Binance, Bithumb global and Kucoin was totally free. But now Bithumb global is taking 1 USDT fee, Binance is taking 0.20 USDT fee. USDT TRC20 withdrawal from Kucoin is still free. However, I think all these withdrawal fees are relatively low and tolerable to us. Because now almost all transactions cost more than $1.

momchilandonov

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Market manipulation is favorite thing from binance, for sure

meldrio1

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Well it's not bad for me that the binance exchange set $0.2 fee for USDT TRC20 that is so cheap compare USDT ERC20 the transaction fee is so expensive. Every exchanges must support USDT TRC20 so that we have an another option to transfer our funds because of the low fee.

raji1995naya

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This happened to me as well. They're trying to promote the BUSD currency. I saw CZ's tweet, in which he said that BUSD is not from Binance, but that they are promoting it.

Kitaiev

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I myself used USDT TRC20 before withdrawing from binance and other exchanges and even then i was surprised that there was no commission for withdrawal.
In addition recently the tron has almost doubled which accordingly increased the commission. So I think that globally nothing terrible happened.

Lordhermes

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Quote from: heztida3 on March 03, 2021, 08:51:19 AM

Binanace has changed it's fee from 0 to 1 usd for per trc20 transaction and minimum withdrawal is 10.Although this is simple strategy but it was more helpful and comfortable when the fee was less.

This is as a result of many investors choosing usdt trc20 withdrawal, therefore their statistical analysis shows the inflow of withdrawal through that, if that's the case why not investors uses ripple or litecoin when withdrawing from Binance in as much as it contains a little fee of <$1. Maybe in the meantime, Binance may increase the withdrawal charge to $2 after observing how investors have more interest in withdrawing via usdt trc20.

heztida3

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Binanace has changed it's fee from 0 to 1 usd for per trc20 transaction and minimum withdrawal is 10.Although this is simple strategy but it was more helpful and comfortable when the fee was less.

Fivestar4everMVP

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Quote from: doctor877 on February 28, 2021, 04:55:03 PM

its binance choice whether they put charges on usdt trc20 withdrawal or not. its not not even a bogus amount so it shouldnt spark much interest. its what other exchanges are doing which isnt different in their case to do likewise. this is even one of the cheapest means of withdrawal on exchanges.

Thank you for your insightful post, 0.2 usdt for trc20 usdt withdrawal is almost same as free withdrawal, I don't understand why people should start complaining, alot of other exchanges charge far higher fees for the same trc20 usdt withdrawal, like a week ago, I traded some of my tokens on bilaxy exchange, decided to withdraw in trc20 usdt, it was a little amount of about one hundred and fifty usdt, I had to pay 2.80 usdt for the trc20 usdt withdrawal to my wallet, so if binance decides to charge 0.2 usdt for the same, I think its the same as free.

7788bitcoin

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

Thank you for the information. It is not a secret that they are using their authority to create their own coins and they have the user base to test anything by providing offers and that gives them the power to manipulate the market as well and we have seen that recently in BNB and now they wanted to popularize their version of the stable coin and this happens if you have a major share of the market.

doctor877

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its binance choice whether they put charges on usdt trc20 withdrawal or not. its not not even a bogus amount so it shouldnt spark much interest. its what other exchanges are doing which isnt different in their case to do likewise. this is even one of the cheapest means of withdrawal on exchanges.

roosbit

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

What a coincidence, I actually ran into something similar with another exchange called whitebit.
Though on the higher side of fees two days ago I actually noticed these guys had started including withdraw fees of 0.5 usdt trc20 from being free of charge so am now left to wonder if these exchanges have some sort of consensus to charge or one of exchanges got the idea from the other....or its a way of promoting one coin over the other ....

tvplus006

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Quote from: FireBallex on February 28, 2021, 09:34:53 AM

It's true, yesterday I was trying to move some USDT from binance to my private wallet and I noticed the charges of 0.2 usdt but to be honest this is way better than ethereum that charges up to 10$ or even more when sending tokens from one wallet to another, to me this charges on Tron USDT is still fair enough

Surprisingly, I yesterday withdrew USDT from the Binance using the TRON network, I was charged a commission of $1. It is obvious that the exchange increased the cost of the fee for using the network to the TRON, but even this price is still low if we compare it with Ethereum.

bL4nkcode

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Quote from: ?? on ??

I don't even like this protectionist policy in favor of its coins and its blockchain that binance is recently adopting, why put fees on the withdraws of other stablecoins and not on his own?

But its effective, look how their coins reach the top 10 on cmc and ofc, its a way to promote to its users to use more of their projects which has uses, lesser fees and no network congestion as of now, and I see nothing wrong about that.

The fees on usdt omni, erc20, trc20 is obviously because the congestion of its network and it should be adjusted so that it will be confirmed right away, but I cant argue that the fee seems so high for normal traders though. While BSC does not affect the congestions even though it reaches more transactions than the eth, so having zero fees is normal and its a win-win offer for their users to use it.

Quote from: ?? on ??

then the block a few days ago of the withdraw of eth and of the erc 20 tokens for more than an hour without warning?

You must follow binance and cz's twitter handle, all updates including the disabled withdrawal are posted there, mainly for the reason to minimize the eth network congestion. Its just few hours though and didnt affect much its users anyway.

Noctis Connor

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

This is good news since other coins are decreasing it's price im waiting for those coins i have in binance and other exchange wallet so i can easily back what i've lose in trading i haven't doubt those altcoins and new project where i put my money in there are tons of token advertising from social media or anywhere from the internet well we can't say that they are manipulating the price since most of investors are really into another way to earn money which is new projects or old projects each platform has there way to advertise it just to make a good profit too.

Fivestar4everMVP

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Well, to be sincere, am not surprised, I mean what are we all expecting from a centralized system, this is normal and not just binance will take this same step, every platform will always try to promote their own products, I mean is this not the platform was created in the first place?? It is absolutely normal because if I own binance, am likely to do the same, truth be told.
They are just promoting their product since they have the power to do so, anyone not cool with it should opt for decentralized exchanges where you are totally in control of your fund and every thing you do with it and even how much fees you choose to pay.

jacafbiz

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You have been sending USDT TRC20 tokens for free for sometime but it is not free to send it if you are sending it directly from your wallet, and also Binance is set up to make profit, if you are paying $10 or more to send it on ERC20 $0.20 should not bother you at all and also Binance has their own chain and their own tokens now, they need to promote the use, just see the attack Binance BSC is getting from Ethereum people, they are in competition and in the same market for the same users

FireBallex

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It's true, yesterday I was trying to move some USDT from binance to my private wallet and I noticed the charges of 0.2 usdt but to be honest this is way better than ethereum that charges up to 10$ or even more when sending tokens from one wallet to another, to me this charges on Tron USDT is still fair enough

bL4nkcode

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Last time 2 weeks ago (I guess) I used to withdraw usdt trc20 and it cost nothing.

Worst erc20 and omni cost 20 USDT for withdrawal fee now and 1 USDT for trc20 while 0 fees for BSC.

So this conclude that binance wants its users to use binance related coins/project for them to have discounts, lesser withdrawal/trading fees and etc. Its too eliminate all their competitors slowly, and that's a good tactic which obviously they will do.

Betaj00

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This has very bad for us and i don't know that why they increase Usdt transaction fee on their exchange. Now need fee for per usdt transaction but on the past it was totally free of cost but i think 0.2 has not impossible but on the future if they more increase their transaction fee then it will more difficult for user's.

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

Since the deposit of TRC-20 USDT has increased massively, binance are trying to get some money off it, I just checked mine right now and the withdrawal fee for trc20 usdt has increased from 0 to $1 now, I don't know if they increased it from this $0.20 you saw, seems like they want to use this opportunity to promote their BUSD that isn't listed on much exchanges, since it's a centralized platform they can do whatever they want, we users can't do anything than to pay whatever fee they ask from us.

Anonylz

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Compare to what eth erc20 transaction fee is right now, this can still be considered as free imo, trc20 usdt has been like a safe heaven for transferring funds for me, cheap or should I say free and fast,
Am glad to have the knowledge of this and I use it constantly.

_IRMAN

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

I don't think it's manipulation, it's a marketing strategy. This way people will use BUSD more than USDT TRC20 for withdrawals from Binance.

Mulann2

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Quote from: masterrex on February 20, 2021, 02:52:58 AM

Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

I think it's not manipulation and Binance has the right to do it and if you are using their exchange or infrastructure then we should abide by it thats business and it's not Free, for me its still cheap compare to Ethereum base or ERC20 USDT tokens, Honestly speaking I was using different stable coin like USDT, USDC, TUSD, BUSD but if I'm using Binance I preferred to use BUSD.

True, If i am in Binance exchange I basically use BUSB and that even didnt come to me as anything bias but I just felt it is the exchange stable coin so i use that but when trading on other exchange, I use other stable coins too and I dont feel any type of way in that too as long as I can complete my transactions, no problem and I think this ERC20 high gas fee is not liked by all and and true business minds will take advantage of each others short fall and even if that was the case, I dont think Binance have over stepped.

dihari

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Quote from: Tipstar on February 27, 2021, 06:44:11 PM

Binance are the only major exchange enforcing this fee. Just this small fee is going to bring Binance a huge profit margin. Binance has became so big that binance doesn't seem to care about the users anymore as they have a lot many. They even claimed it's getting difficult for them to answer to the support ticket.

I am sure it's only happen on binance. Other exchanges still with 0 fee withdrawal for trc20 usdt.
If they did like what you said, they gonna be fail. No matter how big they are, but as a service company, customer and trust is everything.
I still love how they drive the community and force them to sinks into binance ecosystem. If busd get supported by all exchanges I will never take ustd anymore.
But for now, trc20 is still the queen to do transaction with usdt.
I've heard someone said, moving money on the internet supposed to be free and fast.

Tipstar

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Binance are the only major exchange enforcing this fee. Just this small fee is going to bring Binance a huge profit margin. Binance has became so big that binance doesn't seem to care about the users anymore as they have a lot many. They even claimed it's getting difficult for them to answer to the support ticket.

raji1995naya

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I also experienced this. They are going to promote BUSD. I saw CZ tweet, he said that BUSD is not from Binance but they are doing promotional part.

New_order

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I don't see any changes on my binance account either, I can still withdraw USDT-Tron lesser than 0.020USDT that OP is talking about, I'm not sure what's going on here, probably a glitch in the system maybe?

FahriZah

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somewhat astounded to see that occurs. it would appear that most of individuals were utilizing tron USDT and that is the reason binance was making a such move. BUSD is acceptable however it is anything but a ton of trade destinations that tolerating this steady coin.

nykka

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I have seen some exchanges really have fees for USDT TRC-20, while it was always free for me, but Binance still has 0 fee and I`m happy. Imagine, how much I was surprised, when I observed such convenient payment method. I have always been using ERC-20 version and when bull market came, fees became incredible and it was little uncomfortable to make many transactions. Fortunately, there is an TRC-20 variant of USDT and even 0.2 fee will be appropriable for me (I still have 0)

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

This seem to be a tactical move from binance because hundreds and thousands of users were using trc20 usdt since erc20 usdt transactions were expensive, now they have applied fee for trc20 usdt so that everyone would get attracted to busd but personally i think 0.20 usdt fee is cheap and will not change my choice for sure.

Little Mouse

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Quote from: Bitstar_coin on February 20, 2021, 12:33:32 PM

Ever since I discovered it I haven't use any other coins except trc20 usdt, it is free and fast as well, some exchanges already charge little fee but binance use to be free and houbi, but if they decide to introduce little charges fee, still not bad, I will prefer it than to use erc20 usdt, this cost more.

number roller
If anyone is wondering or haven’t checked yet, it is already in action as you can see the image and the 0.20 fee. This us not about which cost less or more. If you are using Binance and want cheap withdraw, they have done it for you- BUSD

Bitstar_coin

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Quote from: akirasendo17 on February 20, 2021, 12:28:38 PM

I have tried to transfer using Tron for usdt but its still 0 fees, honestly its faster and cheaper like any other else, I just wonder why it doesn't have any impact on tron, Trc20 is my favorite for transferring usdt, I think others are not using it because they are only familiar with erc20, you should try using it it can save you a lot of money.

Ever since I discovered it I haven't use any other coins except trc20 usdt, it is free and fast as well, some exchanges already charge little fee but binance use to be free and houbi, but if they decide to introduce little charges fee, still not bad, I will prefer it than to use erc20 usdt, this cost more.

semobo

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

Binance trying to promote the usage of their own coins lately? Kind of centralization building around in the crypto market which should not be encouraged by the crypto community. Even people may be impacted negatively by such a greedy move by CZ or the fee is acceptable because its just 0.2USDT?

tvplus006

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

Obviously, the CEO of Binance thought that this $0.2 could turn into millions, given that most traders now use the TRON network to transfer coins. The transfer in the BSC network was previously paid and was 10 cents, and now this commission is canceled.

Quote from: rat03gopoh on February 19, 2021, 07:48:02 PM

... I also checked other exchanges dont charge withdrawal fees for USDT TRC20 network

By the way, the BitForex exchange always charged a commission in the TRON network in the amount of $0.5048.

akirasendo17

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I have tried to transfer using Tron for usdt but its still 0 fees, honestly its faster and cheaper like any other else, I just wonder why it doesn't have any impact on tron, Trc20 is my favorite for transferring usdt, I think others are not using it because they are only familiar with erc20, you should try using it it can save you a lot of money.

Anonylz

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

Really? I haven't used it for some days now, but I think just about 5 to 6 days ago I withdrew through trc20 usdt and it was still zero fees, why the sudden change and the need to charge! Well still can't be compared to erc20 charges, I just hope it won't go higher as time passes.

Little Mouse

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Quote from: tsaroz on February 19, 2021, 06:51:17 PM

I just checked it and it's still 0 for me.

I read an article from them yesterday from Binance blog and that's what I have posted here. I haven’t checked my account till now but it should be affected from last night.
@masterrex
It’s not about low fee. I can pay 0.20 usdt per tx but still it is something they are doing for boosting the use of BUSD and that's what I'm talking about.

masterrex

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

I think it's not manipulation and Binance has the right to do it and if you are using their exchange or infrastructure then we should abide by it thats business and it's not Free, for me its still cheap compare to Ethereum base or ERC20 USDT tokens, Honestly speaking I was using different stable coin like USDT, USDC, TUSD, BUSD but if I'm using Binance I preferred to use BUSD.

tbct_mt2

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

It can be a manipulation of Binance to force people use BUSD more but I think it is normal changes when one blockchain is used more, and higher transaction counts it has every day, transaction fee will rise. I don't know how the transaction fee on TRX network changes but with its adoption rise I have a thought that its transaction fee is increasing.

Tether Use on Tron Passes Ethereum as Low Fees Attract Small Transactions

rat03gopoh

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD.

Are you a KYCed user? I checked it and it still charges $.21 for BEP2 network and $.41 for BEP20 network.

Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

This is the manipulation of Binance. There’s more to come.

I don't think that's the reason, it's too much for a stable coin. I also checked other exchanges dont charge withdrawal fees for USDT TRC20 network

tsaroz

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Quote from: Little Mouse on February 19, 2021, 06:11:41 PM

All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

I just checked it and it's still 0 for me. Maybe some glitch or a short time thing. (Or maybe that was a new address)
They are surely trying to promote BUSD but going so different from other exchanges and taking fees on withdrawals that don't require one would bring backslash for the exchange.

makishart

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Im a bit surprised to see that happens. it looks like the majority of people were using tron USDT and that's why binance was taking such action. BUSD is good but it's not a lot of exchange sites that accepting this stable coin.
binance can do anything with its centralized platform while people faced very big problem with the fees.
Look at this news https://cointelegraph.com/news/binance-s-brief-pause-of-ethereum-withdrawals-leaves-community-perplexed

Little Mouse

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All these days, it was free or zero cost to withdraw USDT TRC20 but suddenly from today, they have changed it to 0.20 USDT. I don't know if BUSD fee was 0 from the beginning or not but now it has been decreased to 0. The target is to boost the use of BUSD. This is the manipulation of Binance. There’s more to come.

Topic: Binance USDT TRC20 has been changed from 0 to 0.20 USDT (Read 440 times)