exchange fees that no one talks about

rodel caling

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Quote from: sabine80 on January 26, 2019, 04:07:05 PM

yes, some exchanges really require too high fees to withdraw coins. i have already experienced the same and it is partly a cheekiness. i will follow the tip here from the tread and exchange my coins in another coin, if i want to withdraw.

Probably same experience with you. I encounter some exchange not changing their fees even bitcoin value was decrease their price. but for its okay to choose exchange with high fees but surely secured my coins.

sabine80

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yes, some exchanges really require too high fees to withdraw coins. i have already experienced the same and it is partly a cheekiness. i will follow the tip here from the tread and exchange my coins in another coin, if i want to withdraw.

JeffBrad12

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Leading Crypto Sports Betting & Casino Platform

Quote from: debby070 on January 26, 2019, 10:47:15 AM

Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

Why not use binance and buy their very own token which is BNB? In this case, you can ensure that you will have a less transaction fee and trade as much as you wan on this exchange.

He was interesting to discuss the exchange site which has applied a high transaction fee to the users. Binance could be a short answer but remember not all of the tokens are listed on the binance exchange site and you must understand this.

debby070

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www.codex.one

Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

Why not use binance and buy their very own token which is BNB? In this case, you can ensure that you will have a less transaction fee and trade as much as you wan on this exchange.

daniel002

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You should not try to withdraw your coins into bitcoin or ethereum when it comes from exchanges you should first trade it to altcoins that have lower withdrawal fees like tron, xvg, etc. This is a way faster and cheaper than withdrawing bitcoin.

jademaxsuy

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

This is also from the other local exchanges that is why day trading is dicourage due to high bitcoin transaction fees. It is not a guarantee that even if you are a good trader you will be able to profit on it because just one market price fluctuations for sure all your profit will be erase or lost. This is why if one will invest in crypto then holding is the common thing that will going to happen.

When will these high fees be remove?

Tianna

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Well, different exchanges have different fees for withdrawal while some are totally outrageously, others are okay. There's little or nothing we can do, you either avoid those outrageous exchanges or use it like that if there's no other option. Latoken is one of them, the withdrawal fee is so high even for tokens and even the minimum deposit.

Reid

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Question is, do you have a choice?

You want to trade then you should abide by their rules. Besides, if you know how to make money out of the exchange then you could still get it back.

This had been talked and also about the price difference of different exchange.
One more is the difference between the buy and sell price.
All of these you cannot control even when you go to the court. There is no exact price for crypto currencies

Stervyatnik

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Bitcoin is a decentralized system, so we see such a price when collecting commissions, no wonder!

tytanhamon04

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A nexgen decentralized ride hailing

I agree that the exchange makes large commissions for withdrawal, I also noticed that on different exchanges there are various commissions, which means that someone is becoming impudent and someone acts according to his conscience, but I think that this cannot be avoided and this is sad. I think that Bitcoin can reach great heights in the future and there will be more commissions for newbies on the market.

cytpoway121

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I think there is no need to worry about exchange fee because it’s been announced already
But for bitcoin transactions fees, it depends on the day which is not equally fair at all

None the less, no reason to complain
It’s all cheap from my perspective

semobo

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

Centralized exchanges have their own fee structure of you are like to use that exchange you need to pay the fee what they are asking for and there are some decentralized exchanges where the fee is very less and we still going to see lot of best exchange so don't disappoint now.

bitcoinmar

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That is the fee for exchange that you participate in the transaction, it is a source of income for them to operate for that exchange company apparatus. I remember that at the peak, every time you withdraw USDT takes up to $ 25 fee

Mypanara19

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

I get your point there. With every withdrawal transaction they gain so much while the investors carry all the burden when depositing, trading and with withdrawal as well. As for me it's just fine if they would charge for every transaction with the exchange but they could charge lower so that the investors could also get some gains.

Bitfling

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

I think withdrawal fee from exchanger is depend on what coin we withdraw. Some exchanger having low fee if we withdraw altcoin. If we withdraw bitcoin, most exchanger fee is 0.001 btc and i think its very cheap if compare bitcoin price. There is many option if we think bitcoin withdrawal fee too high, we can use ethereum or doge or others altcoin

Turkish88

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I am never withdraw from exchanges in bitcoin, fees very high.
Better convert it to the ETH and then withdraw, but the most cheap is withdrawing in DOGE, price of DOGE stable and dont dropped in one day

joseyphil82

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Yes I go against that too,the withdrawal fees for almost all altcoins on exchanges are killing ,the only one I know of that's easy on me is tradeogre and most coins on there are cryptonight based coins ,cryptopia is better too but nota active anymore due to hack

ufaiz50

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

I think about the transaction fee on the exchanger which is already very expensive to ship a small amount of bitcoin has been discussed, why not no one talks about because there are still other problems that are more important than fees. after all it's a network fee, the site itself doesn't take much , they take fees from trade markets not fees, regarding the solution you can exchange bitcoin to doge, ethereum or ripple.

libert19

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Used some exchanges where max high fee I encountered was 0.0005 BTC and you just don't pay to someone directly via exchanges.

shaheer001

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This is too low as compared to fiat trading as when you withdraw money in forex trading to skrill or any other e payment method the e-commerce business platform cut big fee. so i think in Crypto it is still too low.

whirlcoin

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Quote from: bartusv on January 25, 2019, 07:51:05 PM

There are different exchanges with different fees. Before joining the exchanges we have to get informed about
their fees and chose the most preferable ones for us. Exchanges makes nice profit on fees, for example Binance
makes bigger profit than the Deutsche Bundesbank.

Make a decision before exchange and get confirmed that you are going in the right way but when the demand increases father cryptocurrency that we are using and exchanging exchanging fish also definitely increases whether the demand increases increases the fees of exchange it will be the thing happening here.

bartusv

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There are different exchanges with different fees. Before joining the exchanges we have to get informed about
their fees and chose the most preferable ones for us. Exchanges makes nice profit on fees, for example Binance
makes bigger profit than the Deutsche Bundesbank.

Dannev

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Quote from: 5thFear on January 24, 2019, 05:55:05 AM

Thats very good point that you made. The exchange fees are really very high but there are a few good exchanges which offer low fees withdrawal but the problem with them is that they don't have high liquidity.

Some of them are also not trusted. I traded on one exchange that offers a really low fee for withdrawal but it was really a war for me before I got my withdrawal processed.

Dannev

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The fees are really too high especially on Bitcoin withdrawals. These exchanges should try coming down a bit or do an adjustment depending on the amount of the withdrawal.

dabenko

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I can't imagine that just recently, latoken increased it's withdrawal fee by 30%. That to me is outrageous and can discourage a lot of users.
This is why sometimes I just prefer to use decentralized exchanges. Here you can adjust the fee to whichever amount you want.
Although, I have also seen some centralized exchanges with zero withdrawal fee.

CryptoAssasin

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MenaPay - Crypto made easier than cash

Trading fees depends on the trading platform you are using and also to avoid the delay of their transaction request which may cause a complaint from its users. Besides, that also depends on the altcoin you are trading too since there are unexpected events that may cause.a traffic from their network. On Binance and Kucoin, they are charging 1 TRX for withdrawal which cost $0.027 while 0.01 for ETHZ which cost $1.16. This is my proof that it depends on the altcoin you are using or withdrawing. Some also uses DOGE which collect lower withdrawal fee.

susila_bai

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Quote from: Eildosa on January 24, 2019, 06:34:49 PM

No one forces you to use this exchange. If you are not satisfied with some conditions, you can use another exchange. Or leave all your wishes to the developers of such an exchange. The discussion here will lead to nothing.

You are right that no one forces but you should think that how much this exchanges are making through this transaction fees because network fees is less and they are charging 10 times more. Not only this exchange but almost all exchange are charging same.

This issue has to be raised and serious discussion should happen.

Eildosa

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No one forces you to use this exchange. If you are not satisfied with some conditions, you can use another exchange. Or leave all your wishes to the developers of such an exchange. The discussion here will lead to nothing.

Esterklu

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Yes, some exchanges use too high fees, which personally upset me and cause me to look for other ways to withdraw or other exchanges with more adequate withdrawal fees. But most of all I am struck by those who take fees even for deposit to the account - an unprecedented greed.

nlaara12

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Exchanges are really charging too high,it is becoming difficult to trade on some exchange because of the fee the exchange will charge,I just hope exchanges can bring down the fee.

PuertoLibre

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Quote from: Thomas-s on January 24, 2019, 05:16:31 PM

Quote from: ?? on ??

I don't feel any secure in tradesatosi exchange and I don't even used this centralize exchange. In Latoken exchange I see lots of withdrawal fee even more than Binance.

Binance has a normal commissions if you use a BNB token. In your words, it is better not to trade anywhere))) although, in my opinion, Binance is the most convenient exchange

Binance is perfect example in terms of balancing trading fee and comissions. HitBtc is also famous with relatively high fees for both trading and withdrawing tokens. Last time they charged me for 5% of withdrawal amount because of fixed amounts per token.

Thomas-s

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Quote from: ?? on ??

I don't feel any secure in tradesatosi exchange and I don't even used this centralize exchange. In Latoken exchange I see lots of withdrawal fee even more than Binance.

Binance has a normal commissions if you use a BNB token. In your words, it is better not to trade anywhere))) although, in my opinion, Binance is the most convenient exchange

boolog

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

There are really many exchanges in the meantime and if the fees are too high, you can go to another exchange. The market is big enough and there are still exchanges with low fees. If that does not work, i would exchange my coins for another coin where the fees are lower. Wink

khufuking

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It is a free market and as there are exchanges with high withdrawal fees there are other exchanges that have low withdrawal fees so you need to do your research before deciding which of the exchange you gonna use there is a lot of exchanges out there and the top exchanges have a very reasonable withdrawal fees I do not know why people chase the unknown exchanges. I know that in some cases it is your only option because of the listing and if that is the case just do your trade and do not use them again. The exchange is a business and that business is free to choose the best business model that will suit them and at the same time customer are free to choose the exchange that will suit them best.

aceptamosbitcoin

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

I totally agree with you that those fees are complete bs! And I complied a lot, even stopped using few particular exchanges like Hitbtc having MXM withdraw fee of 0.1 ETH! But most of the times we are forced to use this or that exchange because our token is listed only there and exchanges are speculating to make few extra bucks. But they cannot understand that they are trading those few extra buck for their reputation!

Sundaey

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I don't see anything wrong with exchanges since it has taken all to be done to get there he has the right to do whatever he feels like with his exchange, it can be high fee charges when trading or withdrawal. Same applies to we traders you have the right to choose any exchange that suit you or best.

whatthesith

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simply getting the job done

There are so many exchanges, probably more than cryptocurrencies, so why you are choosing exchange with such high fees? Grin

target

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Quote from: jt byte on January 24, 2019, 02:11:43 PM

Where are you trading? I have no such experience with such high withrawal fees.
On decentralized exchanges there are no deposit and withdrawal fees, you only pay for Ethreum transaction.

Decentralized exchange is very different besides you won't notice it withdrawal fee today since ETH has lesser value but come the time ETH turns $1000+ you may start to see it. Same thing when you withdraw BTC, you'll have to pay about 0.001BTC, its less than $5 but say BTC is $20k, how much would that 0.001BTC be?

Nolimitz84

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Quote from: Gatsby club on January 24, 2019, 05:04:44 AM

I always agree that many exchanges abuse their power and set too high prices for withdrawal of funds, sometimes withdrawal of little-known altcoins can cost about $ 20-30, I think that this is a real robbery and we need to fight it with all means available to us. Because it is simply unacceptable.

I hear about such commissions for the first time.Apparently you are simply not familiar with other exchanges that take very small commissions.If what you wrote is true, then it is very disappointing. With such fees there will be a lot of people disappointed in cryptocurrencies.

Pagoda.to

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Oh wow, yea not many people know the fees when it comes to high withdrawal, they always expect it'll be cheap and it's not

jt byte

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Where are you trading? I have no such experience with such high withrawal fees.
On decentralized exchanges there are no deposit and withdrawal fees, you only pay for Ethreum transaction.

Razerglass

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https://bmy.guide

Market makers are in this business for reasons and they also look for opportunities like other traders. Every pip they got from spread bertween bid and ask rates can be base for future profits.

AristoteI

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In order not to fall into such unpleasant situations when you have deposited a significant amount of money in your exchange account, and then you have to pay very high commissions for withdrawal - before you make your deposit you should always check and familiarize yourself with the commissions of this exchange. This will allow you to avoid significant costs.

omone1

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I usually will avoid exchange with high withdrawal fee. For goodness sake, $10 is way too expensive, some exchange owners want to be super rich at the expense of their customers. If we begin to avoid such exchanges, they will have to work out a better way and cut down on transaction fees. They should incorporate a Segwit activated wallet as much as possible.

ATSgrowth

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homt.net

Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

Every exchange has diffrent fee. The paradox is that the smaller exchanges have higher fees.
That is why Binance is the bigest one because they offer almost zero trading and transfer fees.

levyashin

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$CYBERCASH METAVERSE

It is basically reason why there is more than 100 exchange

Everybody wants to take that easy money.

unusualfacts30

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

that title sounds like what I would see on you-tube but to you point, there are other exchanges that do not charge much in fees and you're free to move from exchange to exchange to see what fits your needs. It's their business so there is not much to say on how they should run it other than switching platform.

joromz1226

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

I do not see an exchange platform that does not charge a transaction fee who withdraw coins. Almost all of the exchange in bitcoin/crypto trading whether decentralized or centralized they had their transaction fee in every withdrawal. Then most of the fee in the top 10 exchange platform in the market was below 10$.

Fredomago

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Quote from: crzy on January 24, 2019, 11:25:38 AM

Quote from: CryptoAlphaStar on January 24, 2019, 10:27:13 AM

The withdrawal fees are somewhat tied to the mining fees, but yeah, heavily overpriced over it. This is one of the steadiest rent-seeking and profit sources for the exchanges. They are acting not much different than banks, so far.

Exhanges earns a lot of profit through the fees, from trading up to withdrawal of your money they have cost so its hard to stop them from being over price. Well, it is still cheaper and a faster transactions compare if you use banks to transact around world.

They take this as advantage and money generating system to their service, we can't deny the fact that exchange really gaining a lots with tons of transactions and tradings from time to time, they keep generating profits to each traders who are using their exchange, it's business anyway and we just need to embrace system that already exist as we do have options to select which exchange offers much lesser one.

cudora

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Cryptoknowmics - World's First Decentralized Media

Try to use more modern crypto currencies like Litecoin or Ethereum. The Fees by such coins are much lower and you won't face such problems at all. Moreover, with Ethereum hardfork the devs are promising to reduce the fees.

Sanford

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Given the fact that hunters are now paying too little ... This is robbery). If you get $ 4 - $ 10 on the bounty, you still have to. Only still it would be necessary to find money for transaction)

cryptomaster420

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

You can never know how many inputs an average deposit transaction takes.
When the mempool was filled, many people needed to pay upwards of $1000 in tx fees simply because of a HUGE number of inputs that increased the size of the transaction.
Ethereum, Bitcoin cash and Stellar ALL have smaller withdrawal fees on exchanges EXACTLY because their tx fees never got as high as those of btc. It's all connected.

LordShanken

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

You're right. I did not know that tradesatoshi wants as much as $10 for withdrawal, but those exchanges I know want about $4 and it also is a lot in my opinion. Only decentralized exchanges have a relatively small fee. That is why I think that it is the decentralized exchanges that are the future for the cryptocurrency market.

burky156

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Yes i agree with you on this, we are paying great ammount of money to exchanges and i believe there is no cure for it right now. There are too many altcoins, maybe more than 3.000 and so there are too many exchanges and they are making their own rules and we need to use them for trading, there is no escape for that. There should be some exchanges that you can trade all tokens there otherwise we have to stick with many exchanges with their high fees.

Galantin

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I recently stumbled upon the fact that the exchange has limited the number of tokens that can be displayed. The minimum transaction there was 100,000 tokens. Absolutely gone. The exchanges also create problems.

masterrex

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Quote from: Herbert2020 on January 24, 2019, 04:12:06 AM

it is because bitcoin is decentralized and the fees are network fees, while exchanges are centralized and the fees are the cost of using their services. if you don't like them here is not the place to complain, you should complain to the exchanges and their support instead.

additionally it is about the fact that not everyone uses exchanges. so you only have a smaller portion of the community that get involved with exchanges while the rest never even visit an exchange in their lives. but everyone uses bitcoin.

p.s i am not saying you are wrong though. i agree that they are charging outrageous fees.

BitcoinTalk is a forum about Bitcoin and Crypto-currency. So that means every topic that connected to Bitcoin and involve its users is considered as important matter. Since the topic is about Huge transaction fees on exchange and i believe most people involve in cryptocurrency has already experienced it. I think the topic is important matter since including me are also experiencing that frequently when im doing a withdrawal. But not all exchange is deducting that $10 dollars withdrawal fees on Bitcoin as per my experienced is concern.

crzy

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Quote from: CryptoAlphaStar on January 24, 2019, 10:27:13 AM

The withdrawal fees are somewhat tied to the mining fees, but yeah, heavily overpriced over it. This is one of the steadiest rent-seeking and profit sources for the exchanges. They are acting not much different than banks, so far.

Exhanges earns a lot of profit through the fees, from trading up to withdrawal of your money they have cost so its hard to stop them from being over price. Well, it is still cheaper and a faster transactions compare if you use banks to transact around world.

TooDumbForBitcoin

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

lol

You don't need an exchange to use transactions in Bitcoin Network. Start here please https://bitcoin.org/en/getting-started
If you need to trade then you must to pay fees for a service.

SaRmY

full member

Activity: 645

Merit: 100

I think all these projects are based on profit. This is a tricky strategy. However, I think that to support the work of the exchange you need qualified personnel. Whatever money is stolen. Therefore, from these commissions, the exchanges pay their employees and bear other expenses.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

Yep, that's how abusive they can charge. Sadly there is nothing you can do to it but to move to a cheaper exchanges link binance where you will have to also buy BNB for the trade fees. Make sense why there is huge volume to this exchange particularly because of this charges.

Quote from: SRKNGL on January 24, 2019, 10:54:24 AM

You can choose coins with lower fees. One of them is the NEO and the other is the XRP. Both commission rates are lower and faster than other coins.

There's a tip why XRP has bigger volume because its a way to make money out of it.

BitcoinHodler

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Activity: 1456

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HODLing is an art, not just a word...

Quote from: shinratensei_ on January 24, 2019, 10:49:16 AM

Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

I will prefer to use major exchange site which has already charged a few bucks. Remember hitbtc can be considered as an exchange site which has been putting non sense transaction fees. Someone stated that he got up to $50 to pay the fees only. i can get a few bigmac for that

there are actually a lot of exchanges that have high withdrawal fees. specially when it comes to altcoins. for example last time i checked Yobit (a shitty exchange that shouldn't have such high fees) were charging 0.01 BCH per withdrawal which is ridiculously high since they pay about 0.00001000 BCH fee themselves.

Quote from: SRKNGL on January 24, 2019, 10:54:24 AM

You can choose coins with lower fees. One of them is the NEO and the other is the XRP. Both commission rates are lower and faster than other coins.

you may wanna read the topic before answering next time...

SRKNGL

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You can choose coins with lower fees. One of them is the NEO and the other is the XRP. Both commission rates are lower and faster than other coins.

shinratensei_

legendary

Activity: 3234

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Leading Crypto Sports Betting & Casino Platform

Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

I will prefer to use major exchange site which has already charged a few bucks. Remember hitbtc can be considered as an exchange site which has been putting non sense transaction fees. Someone stated that he got up to $50 to pay the fees only. i can get a few bigmac for that

CryptoAlphaStar

full member

Activity: 574

Merit: 101

The withdrawal fees are somewhat tied to the mining fees, but yeah, heavily overpriced over it. This is one of the steadiest rent-seeking and profit sources for the exchanges. They are acting not much different than banks, so far.

eternalgloom

legendary

Activity: 1792

Merit: 1283

This is the reason why I try to do most of my trading on decentralized exchanges, they typically have either low or no withdrawal fees.
I understand that this might not be a good solution for day traders, since the volume on most DEX's is extremely low compared to that of centralized exchanges.

Most exchanges had increased their withdraw fees back when the mempool was completely full, before Segwit use was widespread, in order to cover the increased fees on the Bitcoin network. They simply didn't change their fees back when that problem was mostly gone.

Red-Apple

hero member

Activity: 1470

Merit: 655

unfortunately when it comes to exchanges because the competition is not fierce, the top exchanges can charge whatever they like and the rest follow them for the most part. for example when there is only 2 or 3 exchanges that are decent enough to half trust, they get greedy. but if we had something like two dozen exchanges that competed with each other over customers then they had to offer competitive fees to be able to survive.

sham100899

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

somehow im gonna agree with this post, very true. A lot exchanges out there in the loose charging a massive fees for every transactions that you are about to make, it really sucks for some crypto people who were just starting their way to the crypto world, it might make them quit crypto and never to return again. Sad reality though.

mirawantirinjana

full member

Activity: 700

Merit: 101

it has become a provision for each exchanger, a large provision of fees for withdrawing on an exchanger, there are even some exchangers that impose fees for each trade that we do. for example, IDAX Exchanger.
and as users we can't do anything right?

Saint1990

member

Activity: 196

Merit: 11

Indeed exchange charges fee for providing services, but there are several centralized exchanges which charges ridiculously higher fee & have higher withdrawal limits. I have not used tradesatoshi but most of the exchanges have variable exchange fees & I find Huobi, Binance, Gate.io reliable for me.

therhslv

sr. member

Activity: 1022

Merit: 264

There is plenty of exchanges where fees are really low . I know few top exchanges where withdrawal fee is near 10$ , but i don't use them . I better choose trusted and cheapest one . Or you can use DEX exchanges , easy as that

Guryon_master

member

Activity: 384

Merit: 12

Student Coin

This place is actually not the proper place to present a complaint if yo u want to find a credible response but if you just asking the opinions of other I think it is because of being a centralized exchanges. I also suggest that if you are not happy for the fee It would be better to go on altcoins.

bitcoinst

hero member

Activity: 1708

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SmartFi - EARN, LEND & TRADE

Some exchanges have really big fees. In order to reduce it, I use the LTC coin for transfers between exchanges or for withdrawal of payments. That is, I transfer the funds I need to LTC and send them where I need, the fee is minimal.

xenomorphe1

full member

Activity: 798

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I agree that some exchanges have outrageous fees. The worst i think is Hitbtc. And with their limit of decimal in trading of BTC to 0.01 BTC or KMD. They are really the worst exchange.
The only good thing there is there trading tools which is not bad and the volume of exchange.
But i suppose that as the withdrawal exchange is very high, people don't want to lose too much money by withdrawing it from their exchange. Or they lose too much money if they try to withdraw their funds.
That's why people are still trading there...

swetas0707

newbie

Activity: 8

Merit: 0

I agree, the transaction fees are high on exchanges. I would like to say that the transaction fees on exchanges depends on various factors.

One reason is the size of the blockchain. During congestions (when too many transaction in process), miners are preferred transaction that pay higher amount in fees. As we know that a limited no of transaction are processed in a particular time span.
To make sure the transaction went through, exchanges are generally high fees set up.
In addition to that exchanges are also charges their running expanses as well.

How ever things will improve as the exchanges increases.

shirackjs

sr. member

Activity: 812

Merit: 256

There were many complaints about exchange fees too, I read many people are not happy with HitBTC. The fees there are crazy for some coins, I avoid trading in HitBTC if I can. So, it is better to check on withdrawal fees before trading in a new exchange.

5thFear

full member

Activity: 1260

Merit: 102

Thats very good point that you made. The exchange fees are really very high but there are a few good exchanges which offer low fees withdrawal but the problem with them is that they don't have high liquidity.

Saisher

full member

Activity: 2324

Merit: 175

The exchange is now a big business in the cryptocurrency if you notice we have at least ten ICO that are exchanges related, and we will have more because it is the most profitable and a real multi-million dollar business, since we many exchange we should only pick exchange that has the best offer.

Ambers

member

Activity: 476

Merit: 11

To say that I very often came across the fact that the cost of withdrawal is very high, but in my practice there were two such cases - one listened to the HitBTC exchange, and the second to the BiteBTC exchange. Both of these exchanges have quite high fees for withdrawal. I was unpleasantly surprised by these circumstances.

Lassie

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I agree that exchanges didn't lower their transaction fee cost from the time when they adjusted it because of transaction fee battle was on and most people are paying high amount of money for each transaction just to get confirmation from the miners and now that required fees are way too low they didn't adjusted it back the way it is before

BADBITCH

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Activity: 532

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Quote from: bitcoinsc on January 24, 2019, 04:06:07 AM

how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

i believe you are right but there is close to nothing that can be done about that.
Thats why we have centralized and decentralized exchange platforms,

if you day trade a lot, and would love to use a centralized exchange, you had better trade at convenient lower cost exchange or probably make a complain to the exchange support.

Gatsby club

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Activity: 406

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keyTango

I always agree that many exchanges abuse their power and set too high prices for withdrawal of funds, sometimes withdrawal of little-known altcoins can cost about $ 20-30, I think that this is a real robbery and we need to fight it with all means available to us. Because it is simply unacceptable.

Herbert2020

legendary

Activity: 1946

Merit: 1137

it is because bitcoin is decentralized and the fees are network fees, while exchanges are centralized and the fees are the cost of using their services. if you don't like them here is not the place to complain, you should complain to the exchanges and their support instead.

additionally it is about the fact that not everyone uses exchanges. so you only have a smaller portion of the community that get involved with exchanges while the rest never even visit an exchange in their lives. but everyone uses bitcoin.

p.s i am not saying you are wrong though. i agree that they are charging outrageous fees.

bitcoinsc

jr. member

Activity: 439

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how is it that every one is complaining about bitcoin high fees etc. but they arent talking about the ridiculous exchange withdrawal fees? these fees cost 10$ usd. that is sky high fees. this is tradesatoshi site. other site were charging alot too. u want to send and receive but these exchanges are making more money that the miners. where are you guys going to send and withdrawing your coins? these exchanges charging a dime for the withdrawal fees is not going to drive up adoption. i rather transact with a visa card. imagine buying some kfc and ur sending bitcoins through but get charge 10$ extra because exchange fees. thats bs.

Topic: exchange fees that no one talks about (Read 587 times)