fees are very high - page 2. | Bitcointalksearch.org

hosseinimr93

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Quote from: Laura2003 on May 31, 2024, 08:26:08 AM

Or is better in a cold wallet ?
i am not gonna spend money for hardware wallet, i have around 1k$ worth , so dosen't worth buy hardware wallet.

Even if you don't want to use a hardware wallet for any reason, you don't have to keep your fund on an exchange.
You can use non-custodial wallets and have full control over your fund.

It's recommended to use a trustworthy open-source non-custodial wallet.
If you are on desktop, I recommend you to use electrum or Sparrow and if you are on mobile, I recommend you to use electrum or bluewallet.

Orpichukwu

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Quote from: Laura2003 on May 31, 2024, 08:26:08 AM

i only wanted to make a payment with crypto of 5$, but i was dissapointed when i saw the fees
Can you recomand me something where kyc is not required, i don't want to post my evrywhere online, i saw these exchanges can get hacked .
Or is better in a cold wallet ?
i am not gonna spend money for hardware wallet, i have around 1k$ worth , so dosen't worth buy hardware wallet.
How much is normal to pay fees?

$1000 is enough money for you to get yourself a hardware wallet. That's, that’s by the way, for the normal fee. Every network has its own fee rate for bitcoin. The current fee has been posted by @examplens above. If you need a non-Kyc exchange where you can buy crypto, you can check out this list of Instant exchanges by @OmegaStarScream

examplens

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Quote from: tranthidung on May 31, 2024, 08:08:38 AM

I check around and some websites don't list withdrawal fee in BTC too expensive like OP said.

Obviously, the services you checked do not have accurate data.
I am simulating the withdrawal process on my Poloniex account and this is how it looks.
Required amount 0.01, Receive Amount 0.0065 BTC, so fee is 0.0035

moneystery

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Quote from: Laura2003 on May 31, 2024, 07:52:10 AM

....

i am looking to send 5$ through crypto, is this normal these days?

you can convert all your crypto to other altcoins that have much lower fees, i usually use tron to solve this problem, and after that you can send it to another exchange that has lower withdrawal fees, you can choose binance or other cex as an option. and after that you can close your account on that exchange because it just doesn't make sense to withdraw your bitcoin with such high fees and you don't need to use that exchange anymore.

Knight Hider

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a young loner on a crusade

Quote from: Laura2003 on May 31, 2024, 08:26:08 AM

i only wanted to make a payment with crypto of 5$, but i was dissapointed when i saw the fees

Get your own wallet. Use exchanges without high withdrawal fees.

Oshosondy

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Quote from: tranthidung on May 31, 2024, 08:08:38 AM

I did not aware of hack on Poloniex recently?

It was not recent but the hack was last year, around the time Huobi global (that is now called HTX) was hacked.

Quote from: stompix on May 31, 2024, 08:17:25 AM

Yeah, the fees in Poloniex are so fixed that they match the price of Bitcoin when they got hacked!
But, 1btc=1btc so, no point arguing over that, right?

That fee is still too much. The exchange was hacked on November 10, 2023. Bitcoin was around $37000 that time.

0.0035 multiply by 37000. That is $129.5 and it is still to high for withdrawal.

Quote from: Hazink on May 31, 2024, 08:27:26 AM

Quote from: tranthidung on May 31, 2024, 08:08:38 AM

Quote from: examplens on May 31, 2024, 08:06:00 AM

Idiotic, I guess they are trying this way to compensate for the losses they had during the hack.

I did not aware of hack on Poloniex recently?

The last hack happened earlier this month, in which the hacker successfully moved about $3 million+ from the exchange. Read more about it here: https://www.coindesk.com/business/2024/05/07/poloniex-hacker-sends-33m-worth-of-ether-to-tornado-cash/amp/

According to the news, it was the same group of hackers that stole $125 million from them last November, and they are yet to recover from that hack.

The hack was in November last year but that news is about how the hacker send money to Tornado Cash after the address has been dormant for 178 days.

Hazink

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Quote from: tranthidung on May 31, 2024, 08:08:38 AM

Quote from: examplens on May 31, 2024, 08:06:00 AM

Idiotic, I guess they are trying this way to compensate for the losses they had during the hack.

I did not aware of hack on Poloniex recently?

The last hack happened earlier this month, in which the hacker successfully moved about $3 million+ from the exchange. Read more about it here: https://www.coindesk.com/business/2024/05/07/poloniex-hacker-sends-33m-worth-of-ether-to-tornado-cash/amp/

According to the news, it was the same group of hackers that stole $125 million from them last November, and they are yet to recover from that hack.

Laura2003

newbie

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i only wanted to make a payment with crypto of 5$, but i was dissapointed when i saw the fees
Can you recomand me something where kyc is not required, i don't want to post my evrywhere online, i saw these exchanges can get hacked .
Or is better in a cold wallet ?
i am not gonna spend money for hardware wallet, i have around 1k$ worth , so dosen't worth buy hardware wallet.
How much is normal to pay fees?

Solosanz

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Activity: 952

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Is it a must you need to withdraw using those coins or network?

I believe there's a coin that offer cheaper withdrawal fee, check NANO, XRP, SOL, or any other centralized network.

Even you're use P2P or DEX, $5 is really small if you want to send Bitcoin because the fees recently is around $1-$2, which mean at least it already take 20% of your money.

stompix

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Quote from: Laura2003 on May 31, 2024, 07:52:10 AM

i have some crypto on poloniex, i was looking to send some crypto i saw fees like:
~
i am looking to send 5$ through crypto, is this normal these days?

For poloniex, yeah, for others no!
Use a different exchange!

Quote from: OmegaStarScream on May 31, 2024, 07:53:55 AM

Regardless though, exchanges (most of them at least) fees are usually fixed and not based on the network's congestion or the transaction sizes so it doesn't really depend on which day you're withdrawing ,you're going to pay the same.

Yeah, the fees in Poloniex are so fixed that they match the price of Bitcoin when they got hacked!
But, 1btc=1btc so, no point arguing over that, right?

tranthidung

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Quote from: Laura2003 on May 31, 2024, 07:52:10 AM

i have some crypto on poloniex, i was looking to send some crypto i saw fees like:
btc:240$

Quote from: OmegaStarScream on May 31, 2024, 07:53:55 AM

240$ fees to withdraw bitcoin? You may want to switch to another exchange.

I check around and some websites don't list withdrawal fee in BTC too expensive like OP said.

https://www.cryptowisser.com/exchange/poloniex/

Quote from: examplens on May 31, 2024, 08:06:00 AM

Actually, it is a 0.0035 BTC withdrawal fee

I thought it is a bug because mempools are not too bad recently, but thank you and Oshosondy for confirmations.

Quote

Idiotic, I guess they are trying this way to compensate for the losses they had during the hack.

I did not aware of hack on Poloniex recently?

Oshosondy

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Quote from: OmegaStarScream on May 31, 2024, 07:53:55 AM

240$ fees to withdraw bitcoin? You may want to switch to another exchange.

I used an email and password to register just now to confirm this. This is what I found out:

Quote from: Laura2003 on May 31, 2024, 07:52:10 AM

i am looking to send 5$ through crypto, is this normal these days?

OmegaStarScream has told you what to do. Convert all the coins including bitcoin to an altcoin that has low withdrawal fee. You can use OKX, send the coins to OKX and convert them back for withdraw.

examplens

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Quote from: OmegaStarScream on May 31, 2024, 07:53:55 AM

240$ fees to withdraw bitcoin? You may want to switch to another exchange.

Actually, it is a 0.0035 BTC withdrawal fee.
Idiotic, I guess they are trying this way to compensate for the losses they had during the hack. I believe that it is worth converting everything to Dogecoin (or similar with a "cheaper" fee) and leaving this exchange forever.

current fee:

pakhitheboss

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CEX like the one you have said are known for their high transaction fees on withdrawal. It was done to get immediate confirmation, which is according to my knowledge is a good sign. The problem comes when someone uses a CEX to hold cryptocurrencies or Bitcoin. When CEX are know to be an epic centre of high fees, why hold your coins on it. I won't be surprised if the transaction fee goes high for multiple cryptocurrencies.

I have only seen very high withdrawal fees with Bitcoin. I am least bothered about altcoins as they hardly generate any meaning or authority. Stablecoin are the one that are being used for digital currency conversion or for treading as they still hold a small fee in USD.

OmegaStarScream

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240$ fees to withdraw bitcoin? You may want to switch to another exchange.

Regardless though, exchanges (most of them at least) fees are usually fixed and not based on the network's congestion or the transaction sizes so it doesn't really depend on which day you're withdrawing ,you're going to pay the same.

Laura2003

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i have some crypto on poloniex, i was looking to send some crypto i saw fees like:
btc:240$
usdc: 12$
dogecoin: 3.23$
shib: 6.26$

i am looking to send 5$ through crypto, is this normal these days?

Topic: fees are very high - page 2. (Read 248 times)