High ETH withdraw Fees, how to Solve - page 4.

martina14

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

There is no way for us to avoid low fee using Ethereum in terms of withdrawal or deposit, the only chances for us to lessen the charges is to wait the price of Eth to goes down but even it goes down the charges still high,... Meaning, there's really nothing we can do about it.

justdimin

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Quote from: Fredomago on December 05, 2021, 11:20:35 AM

there's no other way when you wanted to withdraw your ETH to transfer to your wallet, Metamask fees still high
and with the solution that you are mentioning it's a good alternative, you need to convert your ETH to other coin before transferring
though it depends on your intentions.

If you need to keep it as ETH, then risk or take that high fees to complete your request.

Not for all, but there are whales and big traders who continue using this chain to transact.

Unfortunately ETH will always be expensive right now, exchange, non-custodial wallet, anything that you do will be expensive and there is no way to get around it. Which is why I believe that we can't find a solution for now. The solution is that ETH 2.0 could be possible to solve all of this problems and I am sure that they will at least develop it in a way that there is a good chance that we could end up with something that is cheaper.

I still do not think that unless they manage to develop it in a way that TPS is higher, then we are not going to have a long term solution even with 2.0 as well. All in all we just need to realize that there is really not a full solution in the market right now, nobody is suggesting any good idea so far, and we just need to keep paying these type of expensive gas fees if we want to move ETH from one place to another, no matter where we are doing it.

Bollexz1

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Have you ever tried FTX? Their withdrawal fees for Ethereum there is relatively low compare to all these other exchanges. Do take your eth transactions there and experience the big difference.

Fredomago

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Quote from: Wong Gendheng on December 05, 2021, 09:23:11 AM

Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

No, exchange transaction fees are up to 2x more expensive than private wallets like Metamask, if you store ETH in an exchanges wallet of course it's easier to withdraw by switching to cheaper coins like MATIC or TRON. unless you need ETH and want to withdraw ETH then you have to accept expensive ETH transaction fees.

You are right, there's no other way when you wanted to withdraw your ETH to transfer to your wallet, Metamask fees still high
and with the solution that you are mentioning it's a good alternative, you need to convert your ETH to other coin before transferring
though it depends on your intentions.

If you need to keep it as ETH, then risk or take that high fees to complete your request.

Not for all, but there are whales and big traders who continue using this chain to transact.

Ararbermas

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

no, most exchange when it comes ethereum transactions is the same, i mean there's a small difference every platform ou there but you know it still expensive. Grin

that's why i used to convert my erc20 to xrp just to save money., and yhup through binance the fee is just a cents any amount of XRP to be honest. So must use another wallet such trust wallet because you have no choice because that's what it is wherein ethereum fee still not fair. Lol

2girls

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Its very big problem any coin of Ethereum u sell it so first you arrange a Transection fee so i think The ETH solve there problem because not everyone use and support there block chain and against the etherium people love and support the BSC.

PhucS

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

I think it is very difficult to find an exchange that has low withdrawal fees when you transfer ETH or tokens running on the ERC20 platform. Currently, the cost of the ETH network is very high, exchanges always have fixed fees and will often be higher than the market to ensure that the withdrawal is successful. This is also a problem that makes it difficult for people to use the ETH network

Furious 7

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Quote from: rozak on December 05, 2021, 08:33:26 AM

Quote from: ?? on ??

All exchanges are already fixed the fees and I think there is no exchanges that you can pay less fees because it will not successfully to transfer so there is nothing you can do you should pay the recommendable fees to transfer your funds. You know ethereum gas fee is very high just expect that most of exchanges are also high fees using ethereum network.

then the best solution is to avoid transactions on the ethereum network. because it will torture the assets we have.
there are no other offers for this case. because indeed every exchange that applies withdrawal fees according to the network used.
FTX is probably still the cheapest for ethereum withdrawals. but reportedly there have been adjustments again so the cost is also a little more expensive. but still the cheapest.

The cost of the Ethereum network is increasing day by day, that's how the GWEI is sometimes higher when needed and this really hurts our assets to choose the Ethereum network for transactions.
Usually the exchange applies a fee of 0.01 - 0.005 which is equivalent to $20 - $40 so it is certainly very large if we make a withdrawal on CEX.
I once made a withdrawal of ETH from FTX and it was a very low fee although this is how on gwei back then it was sometimes 0.001 it was lower than other exchanges.

Wong Gendheng

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

No, exchange transaction fees are up to 2x more expensive than private wallets like Metamask, if you store ETH in an exchanges wallet of course it's easier to withdraw by switching to cheaper coins like MATIC or TRON. unless you need ETH and want to withdraw ETH then you have to accept expensive ETH transaction fees.

rozak

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Quote from: ?? on ??

All exchanges are already fixed the fees and I think there is no exchanges that you can pay less fees because it will not successfully to transfer so there is nothing you can do you should pay the recommendable fees to transfer your funds. You know ethereum gas fee is very high just expect that most of exchanges are also high fees using ethereum network.

then the best solution is to avoid transactions on the ethereum network. because it will torture the assets we have.
there are no other offers for this case. because indeed every exchange that applies withdrawal fees according to the network used.
FTX is probably still the cheapest for ethereum withdrawals. but reportedly there have been adjustments again so the cost is also a little more expensive. but still the cheapest.

sitbang

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one factor in the high withdrawal fees on ethereum because it is unstable many exchange networks use eth and it can cause congestion, I haven't used an ethereum wallet in a long time because transaction fees are expensive especially if I do microtransactions.

Woodie

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet).

Ethereum fees went up after seeing a temporal fix that we got to enjoy lower fees earlier this year but transaction( gas) fees have gone tremendously high again and they haven't been going down either. Sometimes i think its sabotage by competitor companies to gain new users on their network as its all part of playing business.

Quote from: airdata on November 17, 2021, 11:42:19 PM

Have any crypto exchange with low withdraw fees?

hate to be the bearer of bad news but Its pretty much uniform everywhere when it comes to high withdraw fees at the moment and it actually gets worse if you are trying to move ethereum tokens.

mrtryonebiggums

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

The exchanges themselves are gonna offer similar rates. However, you may be able to get away with transferring with another currency (granted it is on both exchanges). I have used XRP and XLM in the past because they offer low fees to move upon exchanges. Try those out and see if it works.

batako

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet).

Withdrawal fees for ethereum from exchanges are indeed high based on todays rate. My local exchange put 0.01 per transaction which is too high for small trader like me. But what can we do? Its better to withdraw only relatively bigger amounts of ethereum instead of trying to withdraw the small ones. To save fees.

Quote from: airdata on November 17, 2021, 11:42:19 PM

Have any crypto exchange with low withdraw fees?

I bet, every exchange has their own fix fees and most will be high enough.

timerland

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

No.

If it was the other way around (MEW to Kucoin) then you could potentially lower your gas and save fees.

But given that Kucoin/Binance is in control of the wallets and the withdrawal fees, there is no way for you to save fees unless you somehow convince them to lower them for you - which is not probable.

ansarose1

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Unlike a couple of years ago, ethereum gas fee were very low such that it couldn't reach a dollar, but seems ethereum network goes bullish and takes a high price value ten times than it was, it's gas transaction fees also gets high and because of this, several of traders and investors tend to switched to binance network just because it has lower gas fee, but take note if the Binance goes high valued coin someday, it just like bitcoin and ethereum network that would require higher value for it's transaction fees.

JeffBrad12

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Quote from: airdata on November 17, 2021, 11:42:19 PM

Have any crypto exchange with low withdraw fees?

You have the best choice of exchange site with the lowest withdrawal fees and that's ftx exchange site. You will get up to 50% discount for the fees or even free withdrawal if you have been staking small amounts of FTT token in FTX. this exchange site was far better in term of user experience. I have been using this since last year and all of my withdrawals were always getting huge discounts on the fees.

passwordnow

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

All exchanges are just relying on the network. If the fee for the ethereum network is that much then there's no way to lower it. Even if you look for other exchanges that you think has a lower fee, it won't do that much.
What you have to do is to look if there's another protocol or network for that token that you're about to withdraw in ERC20. This is common today that an exchange is support another protocol for that particular token as long as it's supported by them to save fees.

MFahad

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Quote from: airdata on November 17, 2021, 11:42:19 PM

I use Binance, Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?

There are always Etherium high gas fee issue in exchanges. I usually use FTX exchange for withdraw Etherium to wallet. In Ftx amost 10$ fee charged while Kucoin and Binance Eth withdraw fee is double almost 20$.

celot

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Send coin with ERC20 need 9$ until 15$ right now, ETH have raise all time high and see little possible back again to lower price and need to see other platform coin like Matic, BSC and Sol have lower fees. Maybe I can recommended with lower fees right now is BNB coin and you can buy or sell on pancake swap and see good coin to buy or sell.

Topic: High ETH withdraw Fees, how to Solve - page 4. (Read 769 times)