Exchanges High Withdraw Fees - page 2.

marto25

member

Activity: 93

Merit: 10

Quote from: marto25 on December 30, 2017, 07:35:06 AM

when will binance introduce lower fees? we have 0.3 fees for OMG i.e.

That’s too high now when the price is up.

7$ withdrawal fee for ETH and 2 ADX ( 10$) ltc over 4$ is too much . high withdrawal fees for all currency ;( .
Very disappointing.

Phalo

full member

Activity: 224

Merit: 100

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

Withdrawal fees in exchanges are ridiculous. I have also started leaving some funds there now. I know it's not ideal. I buy crypto once or twice a month. So I kinda wait until its an amount I am not willing to lose then I transfer into my cold wallet. Last month I lost $150 just on fees. For me, that is a lot of money.

marto25

member

Activity: 93

Merit: 10

when will binance introduce lower fees? we have 0.3 fees for OMG i.e.

That’s too high now when the price is up.

Za1n

legendary

Activity: 1078

Merit: 1011

To be fair the network transaction fees are high right now. If you want to send a timely payment of any significant amount, especially if it is made up of several smaller inputs, it will easily cost $7 right now even when transferring from your own wallet. Expecting an exchange to simply absorb this cost is rather unrealistic, and you would still be complaining if they chose to send your withdrawal via a low fee that took several days to complete.

Donaldturp

full member

Activity: 228

Merit: 100

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

That $7 is not extreme. You even pay something around $2-5 for the bitcoin transfer fee. If an exhange is paying me in cash, they can charge the amount. But if you only mean moving your bitcoin from there to somewhere else, it's not acceptable.

illinest

sr. member

Activity: 454

Merit: 251

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?

No, that makes no sense. They are charging you withdrawal fees because of network mining fees. These fees are baked into the protocol, denominated in BTC. There's no way to peg the fees to USD value in a decentralized protocol. That would require some sort of centralized arbiter.

We also wouldn't want to peg fees to USD because fees need to eventually replace the block subsidy, which is denominated in BTC. Miners are investors/speculators. You can't expect them to invest in mining hardware/infrastructure just to earn small fiat fees.

AltCoinProject

member

Activity: 78

Merit: 10

It is wild capitalism, companies are transforming to wild tigers for higher profits, and it is opposite to born idea of BitCoin.

bahlulfahrul

full member

Activity: 475

Merit: 100

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

Use Poloniex 0.0001BTC Fee
Bittrex Has A Big Fee 0.001BTC
Buy Stellar/Lumens At Bittrex
Transfer To Poloniex
Sell The Stellar You Buy
Withdraw Itu From Poloniex

hyet24

full member

Activity: 166

Merit: 100

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

Well it is decentralize currency you have freedom to go out and find other ways.

Few ways to trade without the greedy exchanges.
-Start a chat group
-Trade BTC in this forums
-Go in person to trade

It doesn't always revolve around the exchanges.

timikulit

full member

Activity: 196

Merit: 103

How about binance? do you have any idea how much is the real withdrawal fees in binance?

someone says that if you use binance coin in their exchange the fees will be extremely cheap?

is that true?

salahfycl

full member

Activity: 189

Merit: 100

https://eloncity.io/

yes withdraw fees from most all exchanges and wallet are kinda high , do not change if bitcoin price go up
yes of course it's true bitcoin is only for the rich.

Yamifoud

hero member

Activity: 2828

Merit: 518

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

Actually, it is quite possible to happen since it varies also the price of bitcoin now. Even though we complaint it for there high fees but we don't have a choice unless you have your own exchanger.
For me, I've never considered it as robbery because it is normally to happen in business. Is just a matter following the trend of bitcoin price in the market, as it price down simply the lower their fees also.

Cicada1033

full member

Activity: 168

Merit: 100

When I send BTC from my desktop wallet I always set the fee to 0.3-0.6$. I have to wait halve a day for my BTC to arrive but I'm okey with that if I don't need them instantly. But on exchanges it's not possible to adjust the fee.

howtobuy

member

Activity: 107

Merit: 100

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

I don't have account with this exchange but I guess it's miners fee. Currently it's around $7 so it's not really profit for the exchange but miners. This is the reason why we need solution to bitcoin scalability asap

shursight

hero member

Activity: 728

Merit: 500

Poloniex withdrawal fees are still 0.0001 just as they have been for more than months, maybe since they are online. And 0.0001 is almost $0,75, i dont see it very expensive.
anyway, the fees are pretty high right now, not just for bitcoin, they are so expensive, i just sent a payment of about $50 to a guy and it costed me about $5,20 to make that transaction.
but i dont care, bitcoin is rising a lot so i dont have anything to complain about.

jekjekman

sr. member

Activity: 378

Merit: 250

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

It is same issue with my local Bitcoin exchange, I even contacted them and no response from them it seems that they need to tell it first ti their programmers to change it again to a much lower price. They are not stealing anything I think because that fee is straight to the miners that making the transactions go through and you can check it yourself.

I think it is much better for you to use Bitcoin hardware wallets because you can adjust the transaction fees at your own discretion comparing to the fix fees to some Bitcoin online wallets.

Prince8

member

Activity: 102

Merit: 10

you are implying you are not rich ! then you state that bitcoin is only for the rich !

whats your play then ? gonna sell all your bitcoin ?

Lancusters

sr. member

Activity: 630

Merit: 263

Quote from: harizen on November 03, 2017, 05:30:14 PM

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

While bitcoin price is increasing, the value of fees will increase too. BTC0.001 satoshis in the past doesn't have the same value today.

That's how exchanges works and we have no choice but to deal with that unless you can find a good exchange that will qualified to your standards in terms of fees. That's why it's recommended to avoid doing micro transaction to save fees.

It seems to me that this is wrong. By doing so, the miners support the use of Fiat. Users are forced to collect large sums and bring them to the Bank card. After that, all purchases are made in Fiat. This has a negative impact on the development of trade with bitcoin and as a consequence inhibits the proliferation of bitcoin.

Reid

hero member

Activity: 3024

Merit: 651

It is 100k satoshis from Poloniex I think.
You cant dent the fact that the bitcoin is so ecpensive now so they are going with the trend that is why it looks like it is so high.
If you dont convert it to dollars then maybe you wont feel it much or it will be little for you.
I dont think there is a voting thread to make them lower their fees. They depend on the price of bitcoin.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Quote from: Cicada1033 on November 03, 2017, 05:07:20 PM

I just withdrew some Bitcoin from Bittrex and noticed they still have the same withdraw fee they had like months ago. Shouldn't they adjust their fee to the BTC price?
I mean paying more than 7$ for withdrawing your Bitcoin ist just ridiculous or am I the only one who thinks this is robbery.

I have to work almost a hour for 7$ not imagining people from india working 2 days for that amount. Maybe it's true bitcoin is only for the rich.

While bitcoin price is increasing, the value of fees will increase too. BTC0.001 satoshis in the past doesn't have the same value today.

That's how exchanges works and we have no choice but to deal with that unless you can find a good exchange that will qualified to your standards in terms of fees. That's why it's recommended to avoid doing micro transaction to save fees.

Topic: Exchanges High Withdraw Fees - page 2. (Read 664 times)