High fees on some exchange! - page 2.

silversurfer1958

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Quote from: Ararbermas on October 17, 2018, 12:46:00 PM

Altcoin nowadays are listed on some exchange which has high fees. I tried to trade to increase my portfolio despite of this situation but still useless because of the amount of fee is when it comes withdrawal.!

Is this normal because of the current situation of market? Or a normal amount of fee especially if the exchange is not yet popular?

You should trade in top exchanges because I don't think the top exchanges will lose a lot of fees when withdrawing, for example you can trade in Binance, Huobi with very low withdrawal fees.
For some small exchanges like Coineal, IDAX with high withdrawals, you should choose Litecoin or XRP to get the lowest withdrawal fee.

chipzeru

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Quote from: yazher on July 26, 2019, 07:06:16 AM

That's insane How can they have a high withdrawal fee even they're not that popular?

I came across on some unpopular exchanges but their fees are not high only a few cents if you want to withdraw your coins.

I wonder where they get that idea on making their withdrawal a little bit higher.

I'm also wondering the same thing. I still don't get why some unpopular exchanges have high withdrawal fees. For example, the withdrawal fees of EOS on Coinexchange is 1 EOS while Kucoin only cost 0,1.

CryptoTech_

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Quote from: Mahanton on July 26, 2019, 03:37:39 PM

Take HitBTC as an example as far as I remember they do charge out withdrawal fee of 0.01 and it haven't changed ever since.Dont know how pathetic they are
on imposing huge fees even the network status isn't that congested that's why one time when I used up this exchange I do convert it into some alts
and find for the best possible lowest fee.

0.01 for ETH right ? i think that's normal because the average of all exchanges is like that now, and I think they will reduce it when the price of the coin continues to rise

mkmdoc

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Quote from: puremage111 on July 26, 2019, 08:32:31 AM

Well take care and check all the exchange before you use

Some exchanges is just rip off, having huge fees on trading and even huge fees on deposit/withdraw
Take extra note

That's why should always check before reporting and start trading in those exchange, hitbtc will charge for both the deposits and withdrawal. In some exchanges they won't charge for deposits and for trading some exchange won't charge any fee. We have to check all these before depositing and withdrawing.

rodel caling

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Quote from: randythered on October 17, 2018, 01:27:08 PM

Quote from: Ararbermas on October 17, 2018, 12:46:00 PM

Altcoin nowadays are listed on some exchange which has high fees. I tried to trade to increase my portfolio despite of this situation but still useless because of the amount of fee is when it comes withdrawal.!

Is this normal because of the current situation of market? Or a normal amount of fee especially if the exchange is not yet popular?

Trading fees don't tend to be more than 0.25% with a lot now at 0.1% or less. As for withdrawal fees they're normally a fixed amount and for some coins on some exchanges are ridiculously high when considering usd amount. It also largely depends on how much capital you are trading with given the fees are fixed, if you're trading with a small amount then the fees will hit you too hard to be able to profit.

Meaning to earn profits from trading, trade highest amount coins traded to avoid that situation the expected profits is goes into transaction fees. I suggest to try poliniex is convenient to use with low transaction than to other exchange and different coins buy and sell for the traded.

Mahanton

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Quote from: yazher on July 26, 2019, 07:06:16 AM

That's insane How can they have a high withdrawal fee even they're not that popular?

I came across on some unpopular exchanges but their fees are not high only a few cents if you want to withdraw your coins.

I wonder where they get that idea on making their withdrawal a little bit higher.

Take HitBTC as an example as far as I remember they do charge out withdrawal fee of 0.01 and it haven't changed ever since.Dont know how pathetic they are
on imposing huge fees even the network status isn't that congested that's why one time when I used up this exchange I do convert it into some alts
and find for the best possible lowest fee.

suryapro

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That's right, because with value of coins you trade on exchange, you will get a profit. but if a coins that you trade only have a small amount then you will lose your profits because taken by the costs incurred when you trade. because the cost of each exchange is not a same in determining rules regarding this fee

cryptocompares

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The biggest commissions that I saw were on the bitmex exchange. Well, there is margin trading, as well as an expensive exchange Gate if you do not use points.

puremage111

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Well take care and check all the exchange before you use

Some exchanges is just rip off, having huge fees on trading and even huge fees on deposit/withdraw
Take extra note

unusualfacts30

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Quote from: pinoy.bolanon on July 25, 2019, 05:53:26 AM

I hate hitbtc for some reason, aside from higher fees, they have minimum amount of token to be traded, unlike other exchangers, it depends on us on how much we be able to trade, i feel safe trading in binance nowadays compared to the hitbtc, which i dont like. Among all the exchangers, okex,binance, latoken were great for me.

I'm not a big fan of hitbtc either. There are dex you can try if you care about fees or go with exchanges that just started, they generally have low fees in the begining which can change overtime so you have to do your digging and find whichever offers you best outcome.

yazher

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That's insane How can they have a high withdrawal fee even they're not that popular?

I came across on some unpopular exchanges but their fees are not high only a few cents if you want to withdraw your coins.

I wonder where they get that idea on making their withdrawal a little bit higher.

campusnet

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Quote from: rachman mahesa on July 25, 2019, 06:01:27 AM

Quote from: ?? on ??

Quote from: Freny250 on July 24, 2019, 02:56:07 PM

Some exchange has high trading fee and withdrawal fee. I will advice you to use Fatbtc exchange they have one of the most friendly trading and withdrawal fee. Binance is also preferable to use

What kind of withdrawal fees are small compared to the zero withdrawal fee of Bitstamp? Even Bitcoin withdrawals are free and they send all withdrawal requests in the single batch of transaction.

Wow, I really just found out about this. Do many people use the Bitstamp Exchange? I personally have never done any transactions there. Because most of the altcoins I have have never been there. And if the Bitstamp exchange has never been a problem, of course it's a good exchange without a fee.

is that serious? without transaction fees? then how do they develop their platform? I have never heard of the exchange. if you have a decent volume, there will be lots of traders interested in the exchange.

mr_random

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Quote from: pinoy.bolanon on July 25, 2019, 05:53:26 AM

I hate hitbtc for some reason, aside from higher fees, they have minimum amount of token to be traded, unlike other exchangers, it depends on us on how much we be able to trade, i feel safe trading in binance nowadays compared to the hitbtc, which i dont like. Among all the exchangers, okex,binance, latoken were great for me.

HitBtc is the worst exchange in terms of withdrawal fees and the minimum threshold for limit orders. Even the Hitbtc management put a rough number limit for some crypto pairs which makes hard to get rid of it. In a simple example, I traded my Bitcoin balance for NEO and tried to withdraw my NEO balance. By the way, NEO withdrawals are free of charge on HitBtc too as well as on other exchanges. They don't let me withdraw 20.79 NEO and system gives an error during withdrawal request. After entering the 20 NEO to the withdrawal request line, NEO balance was updated and funds arrived in my personal wallet.

FlyingDrozd

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Quote from: Ararbermas on October 17, 2018, 12:46:00 PM

Altcoin nowadays are listed on some exchange which has high fees. I tried to trade to increase my portfolio despite of this situation but still useless because of the amount of fee is when it comes withdrawal.!

Is this normal because of the current situation of market? Or a normal amount of fee especially if the exchange is not yet popular?

What fees are hight for you?

don_ricci

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Quote from: ?? on ??

Quote from: sorrros on July 21, 2019, 04:51:31 AM

Do you remember why Binance become the biggest crypto exchange? Due to low fees! So why we should trade anywhere else when Binance has one of the lowest fees? Cool

Decentralised exchanges do not require fees at all, but it has become silly with those extremely high fees. I wanted to withdrawal some ETH from Hitbtc and they want me to pay almost 0,1 ETH just for withdrawing. This is insane.

I'd recommend you to withdraw as a large amount as you can. Flat fees can be less painful if you withdraw a lot of money at once.

slaman29

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Quote from: pinoy.bolanon on July 25, 2019, 05:53:26 AM

I hate hitbtc for some reason, aside from higher fees, they have minimum amount of token to be traded, unlike other exchangers, it depends on us on how much we be able to trade, i feel safe trading in binance nowadays compared to the hitbtc, which i dont like. Among all the exchangers, okex,binance, latoken were great for me.

I think it's criminal to charge people so much for withdrawals when clearly, it will rarely cost the exchange so much.

Just yesterday I withdrew a small amount of about $50 and I saw that 20+ inputs were all combined just to send me the money plus I guess send to their other wallet. They consolidated all that and the fee in the end was still ONLY 8k sats. And that was an overestimate.

rachman mahesa

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Quote from: Freny250 on July 24, 2019, 02:56:07 PM

Some exchange has high trading fee and withdrawal fee. I will advice you to use Fatbtc exchange they have one of the most friendly trading and withdrawal fee. Binance is also preferable to use

What kind of withdrawal fees are small compared to the zero withdrawal fee of Bitstamp? Even Bitcoin withdrawals are free and they send all withdrawal requests in the single batch of transaction.

Wow, I really just found out about this. Do many people use the Bitstamp Exchange? I personally have never done any transactions there. Because most of the altcoins I have have never been there. And if the Bitstamp exchange has never been a problem, of course it's a good exchange without a fee.

pinoy.bolanon

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I hate hitbtc for some reason, aside from higher fees, they have minimum amount of token to be traded, unlike other exchangers, it depends on us on how much we be able to trade, i feel safe trading in binance nowadays compared to the hitbtc, which i dont like. Among all the exchangers, okex,binance, latoken were great for me.

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Quote from: sorrros on July 21, 2019, 04:51:31 AM

Do you remember why Binance become the biggest crypto exchange? Due to low fees! So why we should trade anywhere else when Binance has one of the lowest fees? Cool

Binance will charge you a little fee when you are using binance coin as a coin to pay the withdrawal fees but that will not give you cheap fees when you are paying using another native coin like bitcoin or ethereum.

konflikkastil

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Quote from: sorrros on July 21, 2019, 04:51:31 AM

Do you remember why Binance become the biggest crypto exchange? Due to low fees! So why we should trade anywhere else when Binance has one of the lowest fees? Cool

because every coin is not necessarily going to be listed there, so we have to follow where the tokens that we invest are listings, expensive fees in my opinion it's normal but I don't like the new exchange

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