Does the Cryptopia withdraw fee .002 BTC includes BTC transfer fee?

timerland

hero member

Activity: 1526

Merit: 596

Quote from: rhasan on December 12, 2017, 11:06:52 AM

So my question is:

if .002 BTC is the fee of Cryptopia's BTC withdraw fee, does it include also BTC transfer fee? Or the BTC transfer fee is separate fee?

So which one is correct for Cryptopia:

withdraw fee = .002 BTC = (BTC withdraw fee + BTC transfer fee wallet to wallet)

or

withdraw fee = .002 BTC = (BTC withdraw fee - BTC transfer fee wallet to wallet)

Yes it includes everything. Technically they aren't actually charging any withdrawal fees but they are actually just charging you what they pay on average for a withdrawal attempt, aka what they pay to miners to get a prioritised transaction.

They don't have a percentage withdrawal fee, either.

Quite straightforward, really. Take whatever amount you are planning on deducting from your account, subtract 0.002 BTC, and you get the amount you'll get.

erikalui

legendary

Activity: 2632

Merit: 1094

Quote from: Rahar02 on December 14, 2017, 02:05:51 AM

Quote from: erikalui on December 14, 2017, 01:19:41 AM

Quote from: vegaed1 on December 13, 2017, 04:37:38 PM

They have dropped the fee to .001 which is still high but MUCH better than .002.

Not sure if they just changed this today.

Their fee was 0.0008 initially and they increased it later. They don't even pay this fee while broadcasting my transaction on the newtrok and add less fees (approx 100 sats per byte - 0.0004 BTC) which makes my transaction take long to get confirmed. All these exchanges charge huge fee and add the least amount while sending it except mercatox where you can choose the fee and the exact amount is added as the network fee.

They do not provide any overview of withdrawal fees, can't find the FAQ of it such as there is no fix amount and they said; "withdraw fees depend on the network. For some coins like btc it may necessary include higher than default minimum fee to ensure the transaction is confirmed by the network within a reasonable amount of time"

But, erikalui transaction takes a long time to be confirmed because they applied lower fees compare than what they've charged, even though an exchange always broadcast withdrawal in bundling. Not fair, obviously.

Cryptopia doesn't even send dozens of transactions together (most of the time just 2 inputs and 2 outputs) and hence they should charge a low transaction fee just like liqui that charges 0.0015 and add a minimal fee of 0.0005 for my BTC transactions. They already charge trading fee too and same case is for ETH (0.01 ETH fee). They should just add some fixed fee for all their trades and not just impose such high BTC fee on users. Now 0.002 is worth 32-33 USD. Is it even worth to pay an exchange such a high fee when they are just going to use $8 for the tx fee? Polo is better as they charge just 0.0001 and add bulk transactions with 400-500 sats/byte fee.

btcney

hero member

Activity: 588

Merit: 500

Quote from: rhasan on December 12, 2017, 11:06:52 AM

So my question is:

if .002 BTC is the fee of Cryptopia's BTC withdraw fee, does it include also BTC transfer fee? Or the BTC transfer fee is separate fee?

So which one is correct for Cryptopia:

withdraw fee = .002 BTC = (BTC withdraw fee + BTC transfer fee wallet to wallet)

or

withdraw fee = .002 BTC = (BTC withdraw fee - BTC transfer fee wallet to wallet)

If they charge 0.002 BTC as a withdrawal fee, then it means that it include everything.

Basically if you withdraw 1 BTC with them, you'll be getting 0.998 BTC in your wallet receiving. The 0.002 BTC covers their actual withdrawal fee and any miners fee that they have to pay on their end with the transaction that they send you.

However, it does not cover any transaction fees incurred after you receive the transaction into your wallet and you want to send it out to someone again, you'd have to pay the miner fee yourself since you hold the coins now.

Any other questions?

Rahar02

hero member

Activity: 910

Merit: 523

Quote from: erikalui on December 14, 2017, 01:19:41 AM

Quote from: vegaed1 on December 13, 2017, 04:37:38 PM

They have dropped the fee to .001 which is still high but MUCH better than .002.

Not sure if they just changed this today.

Their fee was 0.0008 initially and they increased it later. They don't even pay this fee while broadcasting my transaction on the newtrok and add less fees (approx 100 sats per byte - 0.0004 BTC) which makes my transaction take long to get confirmed. All these exchanges charge huge fee and add the least amount while sending it except mercatox where you can choose the fee and the exact amount is added as the network fee.

They do not provide any overview of withdrawal fees, can't find the FAQ of it such as there is no fix amount and they said; "withdraw fees depend on the network. For some coins like btc it may necessary include higher than default minimum fee to ensure the transaction is confirmed by the network within a reasonable amount of time"

But, erikalui transaction takes a long time to be confirmed because they applied lower fees compare than what they've charged, even though an exchange always broadcast withdrawal in bundling. Not fair, obviously.

erikalui

legendary

Activity: 2632

Merit: 1094

Quote from: vegaed1 on December 13, 2017, 04:37:38 PM

They have dropped the fee to .001 which is still high but MUCH better than .002.

Not sure if they just changed this today.

Their fee was 0.0008 initially and they increased it later. They don't even pay this fee while broadcasting my transaction on the newtrok and add less fees (approx 100 sats per byte - 0.0004 BTC) which makes my transaction take long to get confirmed. All these exchanges charge huge fee and add the least amount while sending it except mercatox where you can choose the fee and the exact amount is added as the network fee.

vegaed1

full member

Activity: 406

Merit: 100

They have dropped the fee to .001 which is still high but MUCH better than .002.

Not sure if they just changed this today.

rhasan

newbie

Activity: 40

Merit: 0

Quote from: Potato Chips on December 12, 2017, 12:33:49 PM

Withdrawal is an on-chain transaction so it has a fixed fee of .002BTC in cryptopia.

Oh, I thought the withdrawal fee at there = .002 BTC by Cryptopia as service charge + the fee of address to address fee or the transaction fee.

Potato Chips

hero member

Activity: 2786

Merit: 902

yesssir! 🫡

Withdrawal is an on-chain transaction so it has a fixed fee of .002BTC in cryptopia. As for transferring which only occurs within the users of cryptopia, there will be no fees although I've never tried it Roll Eyes

. If you want you can test it first as cryptopia always displays the "fee" before you actually initiate a transfer/withdrawal.

Quote from: panjul07 on December 12, 2017, 11:34:42 AM

I'm not familiar with this exchange, but 0.002 for withdrawal fee is just too high IMO. I dont know why they charges that high while they are not so popular exchange.

Their popularity is at a decent rate but I think people use this exchange because of the coins listed there. But yes .002 is too high especially when bitcoin's price just increased to several folds. I guess they don't want users complaining about their stuck transactions over an over again although its useless as a lot of people have bombarded them with another problem and that is their high withdrawal fee Cheesy

panjul07

legendary

Activity: 3500

Merit: 1354

I'm not really sure if I understand your question correctly but as I know withdrawal fee = fee that is charged to you to pay the transaction fee from the wallet of the exchanger to your own wallet. So there is no "transfer fee wallet to wallet" like what you think because for me both are the same.
I'm not familiar with this exchange, but 0.002 for withdrawal fee is just too high IMO. I dont know why they charges that high while they are not so popular exchange.

rhasan

newbie

Activity: 40

Merit: 0

So my question is:

if .002 BTC is the fee of Cryptopia's BTC withdraw fee, does it include also BTC transfer fee? Or the BTC transfer fee is separate fee?

So which one is correct for Cryptopia:

withdraw fee = .002 BTC = (BTC withdraw fee + BTC transfer fee wallet to wallet)

or

withdraw fee = .002 BTC = (BTC withdraw fee - BTC transfer fee wallet to wallet)

Topic: Does the Cryptopia withdraw fee .002 BTC includes BTC transfer fee? (Read 279 times)