Did you notice top exchanges reduced the withdrawal fee? - page 3.

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Quote from: tiang_tower on February 11, 2020, 05:01:23 AM

Quote from: ntsdm1 on February 11, 2020, 03:06:49 AM

Yes, this is a very steep step on the part of the exchanges.They are already awash in money)) By their actions, the exchanges will attract even more clients using cryptocurrencies.

The problem is the volume in the exchange, if the volume in the exchange is genuine then there is no problem whatsoever even though they are flooded with money, only now there are several exchanges that often create fake volumes, so we must be careful in trusting an exchange.

if you say the problem of the trading place is trading volume, then it is natural that there are many trading places that manipulate the trading volume so that it can make many new traders who will be interested in the exchange, it's better to be able to be careful to do trading on the exchange place.

currently I am still using the Binance exchange place and only trust the Binance exchange place that I can trust.

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Quote from: Tduty on February 10, 2020, 08:59:25 AM

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

I didn't know why they charge a large amount for their user to withdraw or to send some assets. I think in the future the fee for every exchange will be calculated. If there is new exchange who ask a small amount for deposit that I will believe that the exchange will be visited by most people because this is will help them. If we keep this situation, So what is the difference between banks and cryptocurrencies? it will be the same. And this thing has happened to me, I have to withdraw my asset twice, firstly I must send them to my local exchange and then I have to withdraw it to money fiat, and the fee are really big and I didn't like it.

DDante

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Not all of the exchange reduced withdrawal fees, some still have ridiculous fee, the best exchange that has lowest withdrawal fee is tradeogre, even bitcoin fee is just in few satoshis, I've never seen any other exchange compares to tradeogre

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Quote from: Tduty on February 10, 2020, 08:59:25 AM

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

This is indeed good news, maybe this is done because ETH prices have been rising lately and if they don't reduce fees it will become too expensive
I hope another exchange will do this soon

tiang_tower

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Quote from: ntsdm1 on February 11, 2020, 03:06:49 AM

Yes, this is a very steep step on the part of the exchanges.They are already awash in money)) By their actions, the exchanges will attract even more clients using cryptocurrencies.

The problem is the volume in the exchange, if the volume in the exchange is genuine then there is no problem whatsoever even though they are flooded with money, only now there are several exchanges that often create fake volumes, so we must be careful in trusting an exchange.

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Well that is good news to traders in the top exchanges, they should reduce it because the prices of cryptocurrencies are increasing. I didn't notice the reduce of withdrawal fee because I always convert xrp when transferring my funds.

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I do not know the info, because I did not use the exchanger. but as far as I know, the value of 0.005 etherum for the etherum withdrawal fee is the same as the withdrawal fee on yobit. so I thought that was normal.

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Quote from: Tduty on February 10, 2020, 08:59:25 AM

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

if this is true, it looks like the exchanger also has a shortage of users, or this is their trick to attract new users. however, this is very good information for old users. in addition, the continual increase in crypto prices makes many people want to trade again. just curious, do they do this discount only in a certain time or forever?

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Quote from: Tduty on February 10, 2020, 08:59:25 AM

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

Yeah this is a great news to all of us not only to the traders but to all of us who are using these exchanges as we can benefit a lower withdrawal fee.

I just hope that other popular exchange will follow their lead so their users will become happy also as exchange is the main bridge for crypto users to easily convert their crypto assets into fiat and vice versa. Without them, the crypto users will have a problem on how they can convert their crypto assets into fiat which will lead to disaster in crypto world if it will happened.

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Quote from: Doranile432 on February 11, 2020, 02:28:49 AM

Its good to finally see some top exchange reducing withdrawal fee, I hope HITBTC exchange will join the train as well, they have ridiculous fee on HITBTC till date but what will happen if bitcoin reach 20k per coin? we know that fees will be higher

Yes, reducing the transaction costs that have been carried out by several exchanges is certainly very good, because given the large amount of fees imposed by the exchange will also make us overwhelmed when making transactions in any form of token.

ntsdm1

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Yes, this is a very steep step on the part of the exchanges.They are already awash in money)) By their actions, the exchanges will attract even more clients using cryptocurrencies.

Doranile432

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Its good to finally see some top exchange reducing withdrawal fee, I hope HITBTC exchange will join the train as well, they have ridiculous fee on HITBTC till date but what will happen if bitcoin reach 20k per coin? we know that fees will be higher

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Quote from: Tduty on February 10, 2020, 08:59:25 AM

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

Nope you are wrong, kucoin bitcoin withdrawal fee is now lesser at 0.0004 BTC and for Ethereum its now 0.003ETH which is extremely low compare to other top exchanges, I now find kucoin to be a better choice for trading because of these cheaper fees

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Great news, though I already try to batch my withdrawals from the exchanges that I trade on so the fees that I end up taking every transaction aren't very significant anyways. This might be an adjustment and a subtle encouragement for more people to start using the exchanges that have lowered their fees, or even just a little bit of competition between some exchanges' withdrawal fees, but it's good anyways.

Quote from: kawetsriyanto on February 10, 2020, 06:45:22 PM

However, what is the service? Still okay or decreased?

There's most likely no decrease in service quality from exchanges as a result of this lowering of fees. Wouldn't make much sense for them to degrade service just to lower fees.

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Quote from: Swordsoffreedom on February 10, 2020, 06:36:38 PM

Quote from: bittraffic on February 10, 2020, 10:47:05 AM

~snip~
If exchange gets about millions of withdrawals a day, they'd be making millions a day as well. That makes team develop exchanges today and not new projects anymore.

You are right,
Most of the people think that crypto exchanges generate a lot of income from exchange fees. But they actually take more profit from transection fees than exchange fees. Nowadays almost every exchange site takes a fee near around 7 usd flat fee for each transaction, if they pay 2 usd for the actual transaction fees then they earn 5 usd from us as withdrawal fee. I agree that crypto exchange needs a lot of money to let themselves alive but this is really a vast amount of funds they are taking from us.

And thinking that there are many users of that exchange. That means they earn large amount of btc daily thats why they can continue to opperate even in the bear market season.
I think widrawal fee of popular exchange should reduce thats a large funds taken for widrawal and honestly not all people widraw a large amount so its hurts them when they widraw thier money.

rdluffy

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We were discussing this subject not long time ago
It's time to reduce the fees and I'll go further, exchanges should allow people to choose their fees, would be more fair to all, and I think this is totally possible to achieve
Sometimes people only leave money on exchange because it's expensive to send coins to wallet, and then again to exchange, and them this process again and again

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It is good news. However here. actually there are several exchanges that give low transaction fees, especially for the withdrawal fee. There are some exchanges that have only 0.005 eth for a fee from the beginning. In my opinion, one of the reasons why they make the fee lower is that there are many other exchanges that compete with each other, the growing exchange is everywhere.
However, what is the service? Still okay or decreased?

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Quote from: bittraffic on February 10, 2020, 10:47:05 AM

~snip~
If exchange gets about millions of withdrawals a day, they'd be making millions a day as well. That makes team develop exchanges today and not new projects anymore.

You are right,
Most of the people think that crypto exchanges generate a lot of income from exchange fees. But they actually take more profit from transection fees than exchange fees. Nowadays almost every exchange site takes a fee near around 7 usd flat fee for each transaction, if they pay 2 usd for the actual transaction fees then they earn 5 usd from us as withdrawal fee. I agree that crypto exchange needs a lot of money to let themselves alive but this is really a vast amount of funds they are taking from us.

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Quote from: LbtalkL on February 10, 2020, 05:45:36 PM

I didnt notice that because I usually using xrp when withdrawing because it has lesser fees but that great thanks for informing us, last 2019 did you notice it too some exchanges from omni usdt they switch to erc20 usdt I guess to reduce the fees. The adjustment on withdrawal fees happens when the value of an asset changes.

Your choice is very smart because by using altcoin such as XRP and others, shipping costs are cheaper and transactions are also faster, so it's better to use altcoin instead of using bitcoin, which has very high transaction costs.

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Quote from: Tduty on February 10, 2020, 08:59:25 AM

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

I didn't think this exchange decrease the withdrawal fee, because only few months before Ethereum price was half than now. For Ethereum price up 2x, withdrawal fee down to 50 percent. Suppose if Ethereum hits 500 USD price ratio should down but USD always equal to withdraw rate.

Topic: Did you notice top exchanges reduced the withdrawal fee? - page 3. (Read 567 times)