Topic: Why exchange wallet so high fee - page 2. (Read 575 times)
This is one of the problem of exchange site also he force you to withdraw a high value of ethereum otherwise you can't transfer your eth to your wallet
Use Kraken don't have great fees
Most exchanges expect high amounts in ethereum like 1 ETH upwards so the transaction fees will be so insignificant to the user when performing withdrawals so sending smaller amounts will cause you to spend more than you wanted to. The best thing is to convert the ethereum to other altcoins like dogecoin.
If you need a gas for a transaction, then its better to purchase a small amount of eth without touching exchange balance.
0.01 min fee is normal for such exchanges
0.01 min fee is normal for such exchanges
So you shouldn't pick up the ether, but you should replace it with a dog's coin, then put it forward and change it to ether, so the cost will be reduced.
Try to trade on some dex, even if is difficult and not so fast 
Exchanges have made the withdrawal fees a nice way to extort users. Ethereum transaction hardly need more than 40 cents to confirm in few blocks and they charge up to $10 for its withdrawal. If you are going to earn through withdrawal fees than do away with your exchange trading fees.
Um, exchanges don't get any of the fees. They go to the miners. And it's not as if you can arrange kickbacks when you have no idea who'll mine it.
Like I said, it's to keep their users from whining about stuck transactions. Whether more of them whine about high fees is an unknown. I think it's probably going to be less.
I agree with the Thefrolly's statement and can also confirm that they charge such a high fees not because of concern about the users and not for the fast transfers purposes. Not all of them but some can charge up to 9/10 of the total withdrawal fee and only 1/10 goes to the miners. They sometimes change that proportion if the network is overloaded but in most of the cases they take the major part of the fees. It can easily be checked on blockchain.
They do so cause they're not interested in users withdraw their funds out of the exchange. They are interested in users trade more so they can get more trading volume and more profit on charging trading fees. High withdrawal fees is a good way of making users trade more, withdraw less.
The ideal user on their opinion is a user who makes a deposit and spends it all on trading fees by making a lot of back and forth trades
Even though the cryptocurrencies are decentralized, the cryptocurrency market is ruled by the exchanges. That said, we have no choice
It's starting decline phase of classic exchanges vs decentralized (dex) and so they are trying to take profits
Because there is a lack of competition. I think this will change when we will have more decentralized exchanges.
Hoping..0.01 eth for fee so expensive but of course we don't have choice.
Yes, the withdrawal fees are pretty high on mostly all the exchanges. Granted, some of it goes as transaction fees but the exorbitant fees exchanges are taking is surely not justifiable. But we can't do much with it for now. It's kind of penalty to use those exchanges.
Yeah that’s quite the standard, you should check in advance how much it cost to withdraw your cryptos
before registering to a specific exchange, coz you can find better prices!
also remember if you need to move crypto for trading between exchanges you can do it with NEO, since it’s sometimes free (on Binance for example) to move along with GAS!
before registering to a specific exchange, coz you can find better prices!
also remember if you need to move crypto for trading between exchanges you can do it with NEO, since it’s sometimes free (on Binance for example) to move along with GAS!
Hello guys,I tried to withdraw ethereum from poloniex and BTC alpha..soo high fee's I withdraw 0.02 ethereum and fee's is min.0.01 ethereum? So no choice I withdraw even the high fee almost 50% from may balance. I need gas to send more tokens ..but still confused why so high it is normal or due to blockchain congested that's why?
As far as I know for gas which need to send more tokens, you can set fee according to your mind but if you set gas low, your transaction will be delay for long time and may not success. Especially, in the transaction to buy tokens from ICO, I recommend you should set fee gas high to your transaction be fast and successfull
Because they can. Most of the exchanges want your crypto to stay in their exchange so they put a "penalty" for you when you withdraw.
Because there is a lack of competition. I think this will change when we will have more decentralized exchanges.
Exchanges have made the withdrawal fees a nice way to extort users. Ethereum transaction hardly need more than 40 cents to confirm in few blocks and they charge up to $10 for its withdrawal. If you are going to earn through withdrawal fees than do away with your exchange trading fees.
Um, exchanges don't get any of the fees. They go to the miners. And it's not as if you can arrange kickbacks when you have no idea who'll mine it.
Like I said, it's to keep their users from whining about stuck transactions. Whether more of them whine about high fees is an unknown. I think it's probably going to be less.
Exchanges have made the withdrawal fees a nice way to extort users. Ethereum transaction hardly need more than 40 cents to confirm in few blocks and they charge up to $10 for its withdrawal. If you are going to earn through withdrawal fees than do away with your exchange trading fees.
Exchanges are traditionally extremely slow to react to fee changes. And their preference is always extreme overkill as it's one less problem to deal with, otherwise they'd get their customers whining about stuck coins.
It pays to shop around. Some exchanges have much lower withdraw fees than others. If you're transferring to another exchange then it may pay to move money between them with another coin, but watch those spreads or you may end up out of pocket.
It pays to shop around. Some exchanges have much lower withdraw fees than others. If you're transferring to another exchange then it may pay to move money between them with another coin, but watch those spreads or you may end up out of pocket.
I bought ethereum in poloniex and witdraw go-to my mew wallet..but the fee so high so I tried to sell some of my coins in BTC Alpha,much worst hehehe min 0.7 ethereum witdraw and 0.01 eth.fee😂
Fees are high because transactions are in high demand right now.With the network the way it currently is, and as the world realizes the utility of bitcoin, these high prices will be realized as well.
Centralized systems will always be cheaper and more efficient than decentralized ones.
Centralized systems will always be cheaper and more efficient than decentralized ones.
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