Shameless Bittrex fee 0.001 BTC (= 7$ or 6€)

TheQuin

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Quote from: Lipe490 on December 12, 2017, 05:14:54 AM

I do not understand this. Bittrex takes 0,001 as a fee but when you track your transaction on blockchain you can see that actually the fee was not even close of 0,001. Sometimes the fee goes with 0,0001 and Bittrex took 0,0009 without doing nothing.

They would probably argue that it is an administration fee as well as a transaction fee to cover the costs of running the withdrawal service. That's the overhead of running a server for the node, staff to move funds to/from cold storage etc.

It still doesn't justify why it is double what Bitfinex charge.

Lipe490

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I do not understand this. Bittrex takes 0,001 as a fee but when you track your transaction on blockchain you can see that actually the fee was not even close of 0,001. Sometimes the fee goes with 0,0001 and Bittrex took 0,0009 without doing nothing. In the other hand we have Poloniex with the cheapest fee I have ever seen (0,0001) but they are generally holding withdraws and you keep in their hands for days or even weeks. The whole thing is that the fee is raising in dollars and the miners just don't care if you can't pay the fee. Pay high to get your bitcoins on time.

TheQuin

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Quote from: jerry0 on December 12, 2017, 01:06:53 AM

so the higher the btc fee, the higher the fee right since its flat 0.001 btc? what about other coins?

Other coins are far cheaper so when transferring from one exchange to another I usually convert to another currency to do it.

Quote from: jerry0 on December 12, 2017, 01:06:53 AM

So other exchanges are much less than right?

Bitfinex is 0.0005 so half the price of Bittrex. I don't use the other exchanges much so you'll have to check them yourself.

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so the higher the btc fee, the higher the fee right since its flat 0.001 btc? what about other coins?

So other exchanges are much less than right?

TheQuin

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Quote from: jamids on November 04, 2017, 03:49:55 AM

The government and regulation has nothing to do with the fees because it is base on how the network operates. Bittrex has been charging this withdrawal fee for sometime now and only because the bitcoin price went up that people are complaining of the fees. Maybe you can try converting it to an altcoin and then withdraw it so that you will have lesser transaction fee. It is not only Bittrex that is charging that because other exchanges charge it as well and there are others who charge more than that. If they set up a low transaction fee then your withdrawal will take sometime to arrive in your wallet.

I agree that it is nothing to do with regulation. As well as the network fee exchanges and other sites charge fees usually in excess of what is used in the transaction. This is to cover the costs involved in maintaining a full node and everything else involved in providing the service. Bittrex fee is high in comparison to, for example, Bitfinex where it is 0.0005 BTC. I hold accounts at multiple exchanges and sometimes it can work out cheaper to trade into an altcoin and send it to another exchange, but only with small amounts or the trade commissions will outweigh the saving.

SimpeleSimpele

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if about withdraw fee, liqui above bittrex, liqui fee 150k satoshi,
before bitcoin price incraese 7k dollar/bitcoin, majority exchanger use withdraw fee 100k satoshi

jamids

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Quote from: Lionel on November 02, 2017, 06:23:05 AM

What a shame.

Today i've made a 0.013 BTC withdrawal from Bittrex and they held 0.001 BTC for themselves.

And many exchanges are following this trend now.
Maybe due to the huge taxes they pay for being regulated?

F*ck regulation and f*ck the gov then.

Now tell me if it does make sense to charge you 6-7 $ for a single transfer when i can send a traditional bank transfer for less than one third of that money.
Are we going backwards now?

It's time that someone opens a serious exchange abroad somewhere that is not subject to taxes, so that exchange fees can be kept low and people are more encouraged to use them.

Or we must find an alternative.

The government and regulation has nothing to do with the fees because it is base on how the network operates. Bittrex has been charging this withdrawal fee for sometime now and only because the bitcoin price went up that people are complaining of the fees. Maybe you can try converting it to an altcoin and then withdraw it so that you will have lesser transaction fee. It is not only Bittrex that is charging that because other exchanges charge it as well and there are others who charge more than that. If they set up a low transaction fee then your withdrawal will take sometime to arrive in your wallet.

BitHodler

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Quote from: Oceat on November 03, 2017, 01:43:39 PM

I think those altcoin fees are reasonable compared to other bitcoin exchanges and i think those exchanges are just following the rules of the government. If they cannot offer you any it is because they don't follow the rules of the government. Bitcoin may be decentralized but those exchanges are not and you can't trade your bitcoin to any fiat if those exchanges doesn't follow the government rules.

What an utter nonsense. Exchanges set their withdrawal fees mainly based on what they think is appropriate according to how the network is operating, and some exchanges use a part of the fees as just for themselves.

They need to find a balance between having withdrawals confirm relatively fast, but not with fees being high enough to piss off its users. It has absolutely nothing to do with whatever government.

Also, on most exchanges you can trade Bitcoin versus fiat without needing to comply with governmental rules, but that's only when you don't actually deposit/cash out fiat. If you do, then you obviously need to verify yourself.

barota

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yes bittrex withdrawal fees high 0.001 BTC ( over 7 dollar) Embarrassed

, Even trade fees is also high 0.25 percent

yobit 0.0008 btc

we have poloniex withdrawal fees very low 0.0002 btc

BitcoinMarshal

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Quote from: Lionel on November 02, 2017, 07:56:25 AM

Quote from: LTU_btc on November 02, 2017, 07:24:48 AM

Mostly exchanges have similar bitcoin withdrawal fees in range betwen 0.0008-0.0015 btc. And only few exchanges like Poloniex still have low fees. I don't think it's due to taxes and regulations. As I remember, they increased withdrawal fees when bitcoin transactions was extremely expensive, may half a year ago. And these exchanges probably don't want to be used as bitcoin wallets. People are "forced" to keep money on that exchange and trade here, instead of moving funds somewhere else and paying high fee.

You mean that this problem applies only to BTC due to high network fees.

Then for other crypto like LTC , ETH should not be a problem.
Anyone tried with other crypto ?

If we compare other crypto then I believe Bitcoin has much higher fees because I use other altcoins also and withdraw from many exchanges like Doge has only 2 dogecoins and same happen to others they have very less fees just bitcoins withdrawal fees is very high on exchanges in name of miner

Oceat

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Quote from: Lionel on November 02, 2017, 07:56:25 AM

Quote from: LTU_btc on November 02, 2017, 07:24:48 AM

Mostly exchanges have similar bitcoin withdrawal fees in range betwen 0.0008-0.0015 btc. And only few exchanges like Poloniex still have low fees. I don't think it's due to taxes and regulations. As I remember, they increased withdrawal fees when bitcoin transactions was extremely expensive, may half a year ago. And these exchanges probably don't want to be used as bitcoin wallets. People are "forced" to keep money on that exchange and trade here, instead of moving funds somewhere else and paying high fee.

You mean that this problem applies only to BTC due to high network fees.

Then for other crypto like LTC , ETH should not be a problem.
Anyone tried with other crypto ?

I think those altcoin fees are reasonable compared to other bitcoin exchanges and i think those exchanges are just following the rules of the government. If they cannot offer you any it is because they don't follow the rules of the government. Bitcoin may be decentralized but those exchanges are not and you can't trade your bitcoin to any fiat if those exchanges doesn't follow the government rules.

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Quote from: Lionel on November 02, 2017, 06:23:05 AM

What a shame.

Today i've made a 0.013 BTC withdrawal from Bittrex and they held 0.001 BTC for themselves.

And many exchanges are following this trend now.
Maybe due to the huge taxes they pay for being regulated?

F*ck regulation and f*ck the gov then.

Now tell me if it does make sense to charge you 6-7 $ for a single transfer when i can send a traditional bank transfer for less than one third of that money.
Are we going backwards now?

It's time that someone opens a serious exchange abroad somewhere that is not subject to taxes, so that exchange fees can be kept low and people are more encouraged to use them.

Or we must find an alternative.

It has nothing to do with regulation or gov. in anyway. The fees have always been the same for Bittrex or at least 1 year. You should be aware of this and check it before using it.
They don't set up the fees depending on the taxes they have to pay but depending on the network activity. If it's too much for you then don't make a low transfer, simple as that.

richardsNY

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Quote from: Lionel on November 02, 2017, 07:56:25 AM

You mean that this problem applies only to BTC due to high network fees.

Then for other crypto like LTC , ETH should not be a problem.

It's indeed mainly just Bitcoin. At this point the recommended minimum network fee hovers between 0.0005-0.0008 for quite a while now, which basically justifies any exchange to charge people like 0.001 when it comes with withdrawals. People make a problem out of it because of the significantly increased price, which results in people not being able to transact in higher amounts anymore. 0.001 fee looks massive when it comes to withdrawals of small amounts like 0.01-0.02, but when you work with larger amounts, say 0.5 or so, then the 0.001 fee suddenly doesn't look all that big anymore -- people have to adapt to the situation.

dunfida

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Quote from: Lionel on November 02, 2017, 06:23:05 AM

What a shame.

Today i've made a 0.013 BTC withdrawal from Bittrex and they held 0.001 BTC for themselves.

And many exchanges are following this trend now.
Maybe due to the huge taxes they pay for being regulated?

F*ck regulation and f*ck the gov then.

Now tell me if it does make sense to charge you 6-7 $ for a single transfer when i can send a traditional bank transfer for less than one third of that money.
Are we going backwards now?

It's time that someone opens a serious exchange abroad somewhere that is not subject to taxes, so that exchange fees can be kept low and people are more encouraged to use them.

Or we must find an alternative.

Bittrex would only comes after with C-cex. Do you know how much fee they do take when you do tend to withdraw some BTC to another wallet? You would really need to pay up 0.002 BTC for the fee itself. That's ridiculous. Don't believe me? Try to visit the site and you will see.This is why I did leave that exchange because of the withdrawal fee to high and if you transact small amounts then those fee would really give some pain. Even on Coinbase and other exchange site do commonly charge up high.One thing that boggling my mind why poloniex did sustain to charge up lesser than on those other exchange?

Lionel

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Quote from: LTU_btc on November 02, 2017, 07:24:48 AM

Mostly exchanges have similar bitcoin withdrawal fees in range betwen 0.0008-0.0015 btc. And only few exchanges like Poloniex still have low fees. I don't think it's due to taxes and regulations. As I remember, they increased withdrawal fees when bitcoin transactions was extremely expensive, may half a year ago. And these exchanges probably don't want to be used as bitcoin wallets. People are "forced" to keep money on that exchange and trade here, instead of moving funds somewhere else and paying high fee.

You mean that this problem applies only to BTC due to high network fees.

Then for other crypto like LTC , ETH should not be a problem.
Anyone tried with other crypto ?

LTU_btc

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Slava Ukraini!

Mostly exchanges have similar bitcoin withdrawal fees in range betwen 0.0008-0.0015 btc. And only few exchanges like Poloniex still have low fees. I don't think it's due to taxes and regulations. As I remember, they increased withdrawal fees when bitcoin transactions was extremely expensive, may half a year ago. And these exchanges probably don't want to be used as bitcoin wallets. People are "forced" to keep money on that exchange and trade here, instead of moving funds somewhere else and paying high fee.

BitcoinMarshal

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Quote from: Lionel on November 02, 2017, 06:23:05 AM

What a shame.

Today i've made a 0.013 BTC withdrawal from Bittrex and they held 0.001 BTC for themselves.

And many exchanges are following this trend now.
Maybe due to the huge taxes they pay for being regulated?

F*ck regulation and f*ck the gov then.

Now tell me if it does make sense to charge you 6-7 $ for a single transfer when i can send a traditional bank transfer for less than one third of that money.
Are we going backwards now?

It's time that someone opens a serious exchange abroad somewhere that is not subject to taxes, so that exchange fees can be kept low and people are more encouraged to use them.

Or we must find an alternative.

Currently most of exchanges taking fees like Bitterx but only Poloniex is taking only 0.0001 even exchanges like Coinbase and Xapo are taking very high fees which is very ridiculous now its very serious time to think about this issue because we are giving too much in name of miners if this continue then most of peoples try to exchange through other alternative methods

Lionel

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What a shame.

Today i've made a 0.013 BTC withdrawal from Bittrex and they held 0.001 BTC for themselves.

And many exchanges are following this trend now.
Maybe due to the huge taxes they pay for being regulated?

F*ck regulation and f*ck the gov then.

Now tell me if it does make sense to charge you 6-7 $ for a single transfer when i can send a traditional bank transfer for less than one third of that money.
Are we going backwards now?

It's time that someone opens a serious exchange abroad somewhere that is not subject to taxes, so that exchange fees can be kept low and people are more encouraged to use them.

Or we must find an alternative.

Topic: Shameless Bittrex fee 0.001 BTC (= 7$ or 6€) (Read 433 times)