Title: About the Gas on exchanges Post by: sanida on May 05, 2018, 02:39:03 AM Hi, i have a question. what if i sent my coins to some exchanges like mercatox or yobit do i need an ETH (to cover gas transaction) to sell it? or no need?
Title: Re: About the Gas on exchanges Post by: pooya87 on May 05, 2018, 03:39:53 AM you need need the transaction fee/gas when you are sending an on chain transaction. but after your deposit was complete on the exchange, you are in their database. there is no transaction fee/gas anymore because you are no longer making on chain transactions.
so when you want to sell any coin on exchanges you only pay trading fee which is usually a percentage of your order size. for example if you sell 0.1BTC worth of an altcoin on Yobit you will pay 0.2% of it or 0.0002BTC Title: Re: About the Gas on exchanges Post by: sham100899 on May 05, 2018, 03:53:46 AM Yes, you need eth to transfer your tokens. About gas you can check here https://ethgasstation.info on how many gas to use.
Title: Re: About the Gas on exchanges Post by: margarita_free on May 05, 2018, 05:23:31 AM Hi, i have a question. what if i sent my coins to some exchanges like mercatox or yobit do i need an ETH (to cover gas transaction) to sell it? or no need? if it is simple transaction, use standart gas optionsTitle: Re: About the Gas on exchanges Post by: stacktry1112 on May 05, 2018, 08:25:38 PM Yes. you need some amount of ethereum as a transaction fee (gas). It will not be a much of amount.
Title: Re: About the Gas on exchanges Post by: BQ on May 06, 2018, 05:41:11 PM You don't need any eth to do things on an exchange and neither to withdraw,
unless it's a decentralized exchange. Title: Re: About the Gas on exchanges Post by: LbtalkL on May 06, 2018, 06:08:04 PM Hi, i have a question. what if i sent my coins to some exchanges like mercatox or yobit do i need an ETH (to cover gas transaction) to sell it? or no need? No need for gas because that is a centralized exchange but they have fees when you sell or buy. Unlike Decentralized exchange like Etherdelta you need some gas for every transaction.Title: Re: About the Gas on exchanges Post by: apoorvlathey on May 06, 2018, 07:09:41 PM Hi, i have a question. what if i sent my coins to some exchanges like mercatox or yobit do i need an ETH (to cover gas transaction) to sell it? or no need? No Gas fees are required to be paid while selling Eth on exchanges. Though there is some trading fee which automatically gets deducted from your exchange's account and varies from exchanges to exchanges. You would also be required to pay a small transaction fee when you withdraw your coins from exchange to your wallet. |