Some exchanges charges are too high - page 6.

BeManga

sr. member

Activity: 962

Merit: 269

CryptoDirectories.com

Quote from: Byakuga on January 21, 2020, 10:14:59 AM

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out

for the small transaction, I also use altcoin for withdrawal
this is one of the problems for some exchange
ever since they didn't change the fee for withdrawal in bitcoin
let just hope they will do something about this in the future

btcdie

sr. member

Activity: 784

Merit: 251

BTC withdrawals on any exchange are indeed average, considering that they are also added as mining costs. But for the popes the cost has no effect. Maybe for prize hunters or beginner traders the cost needs to be reconsidered and the way to save it is to change the alt, usually the one I often exchange first is on LTC coins, DOGE, TRX, and others.

BitcoinHunt3r

legendary

Activity: 2954

Merit: 1155

Leading Crypto Sports Betting & Casino Platform

Quote from: Byakuga on January 21, 2020, 10:14:59 AM

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out

I just heard an exchange charges 5000 satoshi, because when it is not increased it is reach 10000 satoshi and i think it is already cheapest. But for withdrawal fees, usually a lot of big altcoins can be alternative. Me usually use TRX, WAVES, XRP or maybe LTC if needed.

luckyflop

hero member

Activity: 812

Merit: 512

Quote from: Byakuga on January 21, 2020, 10:14:59 AM

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out

As I think small exchanges often have very high withdrawal fees, like yobit ... they also have a BTC withdrawal fee of 0.001BTC. I think there is no reason for you to use small exchanges in trading, it is better to choose the top exchanges in this market. They have cheaper withdrawal fees and their exchanges are also much more reputable

socks435

legendary

Activity: 2058

Merit: 1030

I'm looking for free spin.

Some of the exchanges has expensive withdrawal fee but if you want to take your coins out from the exchange that charges you with high fees you can exchange your coins to other altcoin with low withdrawal fee like XRP or ETH. This is what I do when withdrawing them directly to my local wallet with less fee.
But if you want to withdraw your coins into BTC well most of the exchanges asking high fees but some exchanges asking less fee if you have some token like Binance with BNB promo. So if you want to exchange with less withdrawal fee better go to exchanges with own coins/token like binance or Kucoin or OKex.

Dickiy

sr. member

Activity: 826

Merit: 460

actually the size of the exchange fee depends on the quality of the exchange itself because they take advantage of the withdrawal fees and trading transaction fees to avoid losses, but we as users must be smart in choosing cheap digital money, which is usually that I use TRX to move my assets as usual cheap withdrawal

kodtycoon

legendary

Activity: 1568

Merit: 1002

that's true and at least i'm surprised at the high fees, even though high fees guarantee our transactions are safer but with costs that place up to 0.001 it will only make the user look for other alternatives or will even leave exchanges that have low fees

StephenieDuong

sr. member

Activity: 602

Merit: 250

—RUSHMOON — Automatic LP & Yield Farm & AMM on BSC

Yes lots of exchange charge high fee when withdraw, i think this all because that exchange get not too much trading fee and they could not cover withdraw fee. I have some bad experience with hitbtc, they are a big exchange but seem they do not want release small penny from investors. Most of the coins withdraw fee on that exchange may up to 25$ and this may rise if the coin price rise.

kolonel_x

sr. member

Activity: 1092

Merit: 250

I think it's the same in every exchange if the user wants to make a withdrawal via bitcoin it will charge 0.001 and I think it's natural because most exchanges are like that.
If you want to be cheap in making withdrawals from an exchange then I suggest using a token it will be cheap and fast in its transactions.

Ratash

full member

Activity: 1540

Merit: 102

Yes There are some exchanges with high bitcoin withdraw fees like yobit they charge around 12$ for every withdraw
I had to change my btc to dash to withdraw with low fees.

coin-investor

hero member

Activity: 2996

Merit: 598

Leading Crypto Sports Betting & Casino Platform

Quote from: Byakuga on January 21, 2020, 10:14:59 AM

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out

They are making profit from trading and withdrawal, I have the same experience with my earnings on Yobit I have to trade it to XRP or Litecoin and I'm lucky that my local exchange, accepts Litecoin to trade into fiat, but if you have the choice pick exchanges that offer the lower withdrawal fee, or if you cannot avoid to trade there you really have no chance but tot trade it to other coins.

Dart18

sr. member

Activity: 1400

Merit: 259

Quote from: Byakuga on January 21, 2020, 10:14:59 AM

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out

That is one heck of a high fee.
It's called robbery.

Even with dynamic mode it wont take that much.
I have been trying other exchange and the highest I have bumped into is 50k sats which looks normal now.
It is a good thing for you wont be listed in the pool and wait. That 50k is like the VIP mode.

Eternad

hero member

Activity: 1400

Merit: 623

Quote from: Byakuga on January 21, 2020, 10:14:59 AM

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out

I also do it in different exchanges, its better and cheaper than withdrawing using BTC. Changing XRP is a cheaper solution too. Just convert it in a wallet capable of converting it easily.

fuer44

sr. member

Activity: 1652

Merit: 262

fee is unavoidable, but if it is too high compared to other exchangers, in my opinion do not use the exchanger, unless the token from your bounty is there then you will be forced to use it.

tianglistrik

sr. member

Activity: 626

Merit: 250

sometimes exchanges that demand high fees must be abandoned, because they worsen the big name of the crypto industry. with a large withdrawal fee makes people think that every exchange will be like this, especially if new users are directly using the exchange.

enhu

legendary

Activity: 2492

Merit: 1018

I think its almost the standard now, 0.001 BTC are mostly the withdrawal fees, trading fees are pretty much cheaper. Binance charge 0.0005 BTC but most of the exchanges I have been into its 0.001. I can't really complain since its their exchange, its their rules. What I do is trade my coins to XRP or ETH and then move to another exchange or cash out. With this, my fee with just be less than a $1.

seoincorporation

legendary

Activity: 3346

Merit: 3125

Well, as you say, some of them charge big fees but are the users' desition if they use that services or to move to another option. Exchanges choose the fees, but if the user really hight fees they will only lose customers.

The option of swap the coins to pay smaller fees isn't good at all, because at some point you will have to move from the Altcoin to BTC back.

nutriagrigia

sr. member

Activity: 1270

Merit: 254

Oikos.cash | Decentralized Finance on Tron

if I want to withdraw money from some exchange and transfer it to another exchange, then I just buy TRX and transfer this coin. as a rule, the commission for the withdrawal of TRX is not more than 10 TRON. this is one of the smallest commissions that are now we have and this coin can be sold almost everywhere

VDraci

member

Activity: 560

Merit: 28

SAPG Pre-Sale Live on Uniswap!

I wish cryptopia exchange still works, that exchange have very low withdrawal fee and that makes it the best altcoin exchange on my list followed by stex exchange, its better to check exchange fees out before you deposit on them, few exchanges are living hell for people who have not much money

Javi_Anibarro

sr. member

Activity: 1540

Merit: 282

tBTC - https://dapp.tbtc.network/

That is why there is a thing called altcoin, an alternative coin that you can use beside Bitcoin. I rarely use Bitcoin to make a transaction because it takes a lot of time and requires a higher fee compared to Dogecoin or other altcoins.
I do not know there is an exchange that charges you 0.00005BTC for the withdrawal transaction fee? what exchange is that?

Topic: Some exchanges charges are too high - page 6. (Read 868 times)