Topic: Cheapest Way To Withdraw From Binance? (Read 392 times)

Okay so i just withdrew my balance on binance via btc and using the btc network.    But i wanted people opinion on this.


Yea i heard hitbtc has very high withdraw fees... but i never used that exchange ever.  That is ridiculous with those fees.


Well my thought was this.  When i converted the altcoin to btc.  And the tiny amount of bnb to btc.   I thought about converting my btc... roughly 2k worth of btc... i thought instead of paying the btc fee... convert it to usdt/usdc and withdraw via binance smart chain.  Then send it to my nano ledger s and pay less than a dollar.


But when i want to send that usdt/usdc via binance chain to say one of those sushiswap or peer to peer places, well thats going to cost me another dollar.  But what about when converting that to btc then?  Because well you have obviously have to pay a fee to trade usdt/usdc binance smart chain to btc... so in those places... wouldnt the fee to trade be much higher?  So let say i now have 2k - 2 dollar sending fee since well it would cost one dollar each time to receive from binance... and me sending the usdt/usdc to an exchange.  So its 2 dollar total fee now.  But when i convert that 1998 worth of usdt/usdc that is binance smart chain to btc... well isn't this going to cost me probably at least 1 percent? 


So by then... me converting it from usdt/usdc binance smart chain to binance is going to cost me another 20 dollars.  So now total fees i paid is now 22 dollars.  Then you have to add whatever fee that sushiswap or peer to peer place charges to send the btc back to my nano ledger and the price is going to be around 25 dollars or even more?


Is my math right on this?  Such as me trying to pay a lesser fee to withdraw on binance such as withdr

Posted this in another thread.


Yes I find the btc withdraw fee quite a lot which is why i kind of dont want to withdraw that way.  Again the reason isn't the usd price the withdraw price is worth to withdraw... its the btc amount.  So if btc goes ten times it... well you would have paid 250 dollars as oppose to 25 dollars for it.


The thing is i had converted my altcoin, and a tiny amount of bnb to btc already.


I am planning to withdraw it now... but are some of you suggesting to not do it this way?  Thus just convert the btc to usdt/usdc in binance smart chain network or BUSD and then withdraw so i dont have to pay the fees?  I know the simpler thing to do is just pay the fees so withdraw will be simpler.


Why do people suggest BNB?  Yea withdraw fee is low but the issue is the price still fluctuates.

Since you want to withdraw in the cheapest way, I think it would be better to withdraw in BNB.  Because BNB is the native coin of Binance. Its withdrawal fee is very low. However, it would be better to withdraw at stablecoin because it will not have the tension of price dump.

Well, in tha case, I don't know what altcoins does have in the nano ledger were your the only one knows what coins they have in Nano.
now, whatever coins they have in it, check its coin fee and compared it into the transaction fee in which Binance have as far as I know
here try to open and review them all https://www.binance.com/en/fee/cryptoFee

Yes, I wouldn't say binance withdrawal fees as dynamic as it is not. Maybe, exchanges should review their fees from time to time as there are really times that the network are really not busy. But I don't think exchanges have dynamic fees, mostly are fixed. I only see dynamic fees when it comes to some gambling sites. Or better yet, check the network fees other than the bitcoin network, you can check already the BSC as well.

Binance bitcoin withdrawal fee isn't really dynamic.
Currently, at the time I am making this post, the mempool is almost empty and 1 satoshi/vbyte is enough for getting confirmation in the next block. Binance is still charging 0.0005 BTC as bitcoin withdrawal fee.

Okay so the reason why I kind of don't want to convert altcoin and the tiny amount of bnb to btc and then withdraw my entire balance is not that it will cost around 22 dollars to withdraw.  Its the fact that it cost 0.0005 btc.  So its like in the future if btc goes up 10x, then that 22 dollar withdraw fee is now worth 222 dollars. 


Does that make sense?  Or is my thinking about this completely wrong?

If you are tending to save up BTC then better to convert all your altcoins to btc and those small BnB you do have so that you could withdraw in all go and also it wont really be that much of an issue

when it comes to fees because btc fees now are cheap and binance do really have dynamic fees which means it would vary on the network.Then on that part you do store up your btc

on your ledger nano.I wont see for it an issue since you are withdrawing thousands of worth from alt to btc in overall value.Its just peanuts.

Looking from my own stand point, the amount of altcoins is far way more than the BTC you are holding in your wallet. And with my little knowledge of cryptocurrencies, in order be at the loosing end. I would advise you to convert half your altcoins to a more stable coin, coins like BTC, ETH and BNB. And leave the remaining half in altcoins. Reason being that, if there is any major clash and it affect your altcoins. You will be on a safer side, because these three coins have been doing great lately. There are some altcoins that are more than 4 years now, and they have not witness a major milestone yet.

The cheapest Way To Withdraw From Binance? That might be a problem seeing as the withdrawal limit for people without KYC is very very low. So either way you pay the same percentage fees for the withdrawal from a mathematical standpoint, however, depending on the amount you need to withdraw you might need a few days or longer. I do not know if they will let people withdraw without KYC after 10th of October though...

trading on binance has conditions as far as I know, which is a minimum transaction of 10$ so if your balance is not sufficient you have to add it first, and then exchange it to the type of coin you want to save, preferably if it is a small amount save on another coin that has a withdrawal fee small one.

Can anyone answer my question on just converting everything to BUSD instead and withdrawing it to nano ledger?


Would i save money on withdraw fees?  It seem yes but isn't the issue of when i want to send BUSD to an exchange, i have to pay ETH fees like the current altcoin I own because I read BUSD is an ETH coin? 



Or it isn't?

Personally, I bring it through the cardan. It turns out cheap, even cheaper than on Ripple and the dollar on the Tron network.

I just thought about something else.


If I trade the altcoin for BUSD.  Then trade the tiny amount of bnb and btc i have for BUSD... then withdraw that BUSD to my nano ledger... would that work?  Would that be like the cheapest way since by doing that... you pay 0.8 BUSD only?  But not only that... you don't have to be concerned about price fluctations since its a flat dollar?  But compared to usdt/usdc... you dont have to pay that higher fee if its on that ETH Network?
Thus even if i traded it all for BNB, well im still subject to price fluctuations right?  So BUSD makes the most sense?  Or second option is just convert everything to btc and withdraw that way and pay the fee?


But my situation though is i would only be able to use coinbase/gemini due to my citizenship and country location though.  And I notice BNB and BUSD... the only exchanges you could buy/sell it is binance and binance.US which i cannot use.  So would this pose a problem for me in the future?  But people say there are peer to peer exchanges where you can trade with others in situations like this?  But how much more percentage would one have to pay?  Example imagine having around 2000 BUSD and wanting to convert that to btc or fiat or usdt/usdc.  How much percentage around would that be?

These times, I always choose to use TRON (TRX) to pay very low fees. Before I started doing this, I used USDT many times but the fee was worth $1. Then, I realized that when I was going to my transactions with TRON, I was going to pay only 1 TRX which is equal to a very low amount these days. Considering the place that I withdraw from Binance, TRX is the best option for me.

If you're looking for small fee probably the best way is to sell your altcoin to bnb then dump it, because bnb nowadays isn't expensive like what bitcoin and erc20 had. And by the way you can use any swap site for that instead of exchanges, i don't if you will agree but for me it's so easy, i mean in just one click you can easily trade your coins as long as you have balance for fees as well.

I had been also using binance for more than 1 year, but I think once you reach the limits of your withdrawal using Binance, the platform
itself will require you to submit or to verify your KYC or else according to binance, your withdrawal will temporarily not possible except
or unless you submit to verify your KYC, just simple as that.

I've read all the replies of OP and I can see he always uses the word "future".
You are going long-term so just pay the transaction fees in Bitcoin. That's the best possible option you could get rather than putting it in many baskets that would just stress you again about transaction fees if you want out.
It will just confuse you checking on each altcoins or stablecoins that you purchased and then having doubts about something else.
It's giving you a headache now, what more in the future?

Simple agreement exists between Tron and Binance Smart Chain.

One might agree that the Ethereum blockchain has always been the safest and most respected, and if can one manage to pay for a withdrawal, it's really the best option.

Holding usdt or usdc, on the other hand, is a risky proposition. Is it important to you to preserve a stable currency if you invest in cryptocurrency?
If you believe the cost is excessive, one could ignore it and place this in the trade.

The transaction fee depends on the mempool whicn means that is not always a $25 fee, it could probably go above $25 and it could also be as low as $5. The reason why you are paying a hefty $25 fee is that it is set by the exchange (Binance) and is usually their standard withdrawal fee being charged to their customers.

You can take a look at ethgasstation to help you estimate the amount fee you will be spending.

As for me yes! And I think this will help you save from a lot of headache worrying if the token you are holding is still worthy to trade when the time you have decided to trade it on the exchange. You really can't be certain if the token you are holding to stil has a value unlike BTC.