Bitcoin Forum

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

This is not the first time the issue has been raised. I personally don't think it's that much of an issue because I understand that exchanges are also businesses. Centralized exchanges won't survive long without these fees. You pay for the services they offer to you as a user. Why so high? I don't have the figures to check how much is their operating cost but I can say that they charge to profit and continue to operate.

If you find the withdrawal fees troubling, you have the option to go for altcoins with cheaper fees like doge. You can trade on decentralized exchanges but you might raise another issue which is liquidity. Then again, CEX provides better liquidity and using their service has a higher cost.

It depends. I think a high withdrawal fee + trading fees are too much. And trust me, exchanges with high withdrawal fees earn a lot just from them alone. Think of weaker hands - they're going to be bipolar during trades and they'll keep depositing and withdrawing with every sharper move of the markets, going with the market flows (in other words, losing).

I think exchanges should either have withdrawal fees or trading ones. Not both..

When we are making some trading, most of us having trouble with the use of transactions fee because it was too high, and most of the time bitcoin is one of the most top transactions fee and because of the market price. Today the cost of the bitcoin shows a good market profit, and we are welcoming back the price of the coin because from the previous year the amount came from 6k dollars and now it is going up again and back to 10k dollars now some of the people make more investment and hoping still the price of the coin goes up again and so the people want to withdraw their coins they have some trouble because the cost of the bitcoin comes back with a higher fee because of increasing of market price.


I think we cannot stop other people to make a transaction every time because sometimes they have a lot of earnings and they want to invest into other currency too and yet we cannot control other people and the market to make a stop for a while for having transactions because it may affect the whole market. This is the reason why the price goes up and down because of the trades happening.

Exchanges mint from listing fee so that's not true. They ask for high fee and just add 1% of that amount as the real fee plus they have trading fee.



I have lost over $200-300 just as withdrawal fees on exchanges as even for a small amount they charge 0.001 BTC and hence I prefer withdrawing ETH where the charge is 0.01 ($2) on most exchanges as many fiat exchanges also accept ETH deposits. That's the best option.

Some exchanges do some marketing trick with their zero trading fees but charges huge withdrawal fees or the other way around. Either way, it's not that different from exchanges charging both trading and withdrawal fees.

There is no doubt that they are earning from withdrawal fees but like I said, I don't have the figures so I can't simply trust you unless you can show some concrete data.

that is a big part of exchange revenues and in fact it is one of the main reasons why so many traders are forced to leave their funds on exchanges (bitcoin withdrawal has high fees and fiat withdrawals have even higher fees thanks to banks).
and this is yet another incentive to move towards more decentralized exchanges where there is nobody to take fees (either trading fees or withdrawal fees) there is only network fees to be paid.

The price when you calculate it in fiat will be higher as the value of Bitcoin increases. Still some exchange like Binance charge 0.001 Satoshi for Bitcoin withdrawal which is very high according to me.

Yeah damn right. Btc fee is really high and eats a lot from our trades. I know that Exchange conserved this to earn profits on their operation. As a user its really heart breaking cause its so steep to pay those huge fees. That's why I resort to using smaller fee coins such as xrp, bch, doge and other coins that supported on our country for trading.

Most of the popular exchanges have that fees. And I think it's mostly to discourage arbitrage trading. Popular exchanges are not actually the real place to exchange your one coin to another. They are crowded by day traders and manipulators. If you are for coin to coin exchange, spot exchanges are the best choices and among them, decentralized one would be more trustworthy.

It is how they make some money to make sure that their site could continue and upgrade their security system,
If you couldn't afford it or think that it is too high there are always some other ways try to use alt-coin when withdrawing from the exchanges.
We are free to use other alt-coin to withdraw they are not forcing us to pay it, It is always up to us.

This is a problem of the past, as far as I know, the high transaction fee and the slow transaction time took together a problem in the past too.

Right now, I am used to this so I don't have a choice but to either convert some of the cryptocurrencies into other cryptos or hold that crypto for a little bit at that exchange. And as said by others, it is usually for those people that do arbitrage trading since I did that too in the past where I see an opportunity, sell it and then take it out of that site and might go back after a week when the price is good.

Because they can. Because many don't care if they work with very high amounts. Because if they convince you keep your money there just to avoid paying the fees, they may benefit of it (their keys, their coins!).
What you can do:
* pick another exchange https://bitcointalk.org/index.php?topic=5079048.0
* if possible and suits you, withdraw the lower fee altcoins, there's quite a list
* keep the money at the exchanges until there will be more to withdraw (not the best choice)

I have not used exchanges for a long while, but my last time was on HITbtc exchange, and I don't remember it being expensive... At the same time, it's easy to guess why exchanges raise their fees. For one, this is another source of income for them. Apart from that, a higher fee encourages people to keep their money on the exchange rather than withdraw immediately, which is also good for exchanges. Does Binance have high fees as well? According to what I see on Coingecko (https://www.coingecko.com/en/exchanges/binance#about), it seems fine (although it could, of course, be around $10, because it depends on the amount of money you withdraw from there. Just look for an exchange which will be better for you. Good luck!

Nothing we can do about that mate. Fees are probably high because they need to manage the exchange, plus, they have to pay their employees. Not only that, but there's also the issue of them adding more features and adding qol improvements towards their UI and codes, which makes it easier for traders. It's understandable, and yet at the same time, not. Ngl, I know what you feel, but they're honestly at the upper hand in this argument. Why? Simply because, if you think their fees are high, then don't use their exchange, we aren't forcing you kind of thing.

Tbh, there's nothing wrong with it, they're pretty much just doing their job. Not really our place to complain against them. It's like they place their fees at a place where you can't help but feel the pain but still is within manageable levels.

the widrawal fee in exchange is mostly 0.001-0.0005 per widraw thats normal thing before but because of price increase of bitcoin it will look like much higher in terms USD value.
The solution i do to reduce the value of transaction fee is i use other crypto for widrawal such as XRP and i only use bitcoin for deposit in exchange.
If you dont have local exchange that can easily convert other crypto to fiat is the problem need to solve on me thats not a problem.

What are you trying to trade? BTC and fiat or BTC or altcoins? Although centralized exchanges are awful for this kind of thing, even $12 for a withdrawal is a bit much for them. Take a look at this list: https://withdrawalfees.com/coins/bitcoin. There are plenty of exchanges which will let you withdraw for free or only a couple of dollars. All they will ask in return is to know everything about you and for you to upload details of your entire life, copies of all your ID, passport, driver's licenses, employment status, payslips, and tell them why you are buying bitcoin, where your money is coming from, where it is going, and what you are going to spend it on. Oh, and have the ability to freeze your account and steal your coins if they don't like the answers you give them. ::)

Alternatively, if you want to have free withdrawals, want to submit absolutely zero KYC information, and improved security by keeping control over your own coins, then start using a decentralized exchange like BISQ to trade peer to peer with other users.

Yes it is really to high if your transaction will be made through bitcoin but just like what others do, they are using the exchangers to buy some ripples or ethereum in exchange of bitcoin then when their bitcoin becomes ethereum or xrp then this would be the time that they will be able to withdraw it then the transaction fee will be just xrp or ethereum and it is more less than the transaction fee of bitcoin. This probably many people are doing to avoid large transaction fee of using bitcoin.

Unfortunately it depends on the exchange you are using , as for me I pay the same amount I pay when I send bitcoins from one wallet to another , the thing is the widrawal fee is different for different exchanges , you should try And read the terms and conditions before you make any move like that , but I do think it would be good if you just keep your bitcoins there for a while and pay at once , this is what I do , keep accumulating them as I go forward and then pay at once , it actually reduces the load but yes is not at all fast and consumes a lot of time..

The reason is very commonplace, the commission for withdrawing funds is probably not a very large, but noticeable part of the exchange’s income. For example, I saw exchanges where the output is at the level of 50,000 satoshi, despite the fact that the user’s conclusions can be combined into 1 transaction, and let's say 2000-3000, well, even 5000 satoshi for each, and get the rest of the amount as net profit.

Is that chart updated in "real time" or close to it.
I don't use exchanges that much, but I have noticed that some do vary the fee. Sometimes it's easy to see why, like many unconfirmed transactions and they usually have their withdraws in a block or 2. Others I think it's just because they feel like it.

-Dave

This is a problem that we face everyday: leave the money on exchanges to avoid fees but with some risk, or withdraw to our wallets to keep our funds safe but paying high fees?

I know that exchanges need to gain money, it's a business, obviously, but why not decrease a little the fees of withdraw? Or at least let the customer choose the best option?
If you want your coins quickly, pay higher fees, if you don't care about the time of a transaction, put a low fee...

I think this is totally possible

Obviously so they can earn their money. I am not sure why but there are these sites where you could choose what kind of transaction you want, whether you want a fast one if you are in a hurry or a slow one that still waits for other transactions to complete. If that is a higher fee, that means that those transactions are fast yet, it is expensive.

I know this is not applicable to everyone, but I cope with high fees by withdrawing bigger amounts in a less frequent manner

That might be true to an extent, but I'd rather pay a higher trade fee than a huge withdrawal one, especially for bitcoin.  Many withdrawal fees for altcoins are much lower, but usually that's not what I want to withdraw from an exchange. 

Having said that, not all exchanges are equal in their fees.  Kucoin currently charges 40k sats to withdraw bitcoin, and while that might not be outrageous, it's still over $4.  Contrast that to Yobit, which I think is 120k sats--that's a ripoff IMO.

If you want to trade, and withdraw your coins very often, then you have to pay a price for it. As mentioned above, it is not just a fee for sending coins via blockchain, but also a fee for using the service, nobody works for free today, why expect crypto exchange to be someone who will give up profits for the benefit of their users?

I believe that each service has its price, but also that some have high fees. Perhaps superior service entails a higher price, as with everything else we pay or buy. You can buy a new car for, say, $10 000, but you can also buy it for $100 000.

As far as I know, but I'm not exactly an authority on centralized exchanges - I've only ever used one (without any form of KYC, using a throwaway email address and over Tor), and the last time I used it was around 2 years ago. I've never used a centralized exchange for fiat. My primary reason for not using them is that I have no desire to complete KYC anywhere ever for any reason, but when I keep seeing them charging ludicrous fees, being hacked, locking accounts, and other such shady behavior, I'm always very glad that I don't.

It's ridiculous when you think about it. When you deposit to an exchange, they will need to make maybe one or two consolidation transactions to move your deposit from the address they gave you to their central hot wallet, and then when you withdraw, that's one more transaction. All the transaction they make are batched, and the consolidation ones can be made with a tiny fee because they are non-urgent. All-in-all, it'll be costing them <1000 sats per deposit to process. To charge 40-100x that is ridiculous.

Withdrawal with bitcoin is really high because it is dominant than any other coins and you can do nothing about it so if you want to withdraw that bitcoin of yours you should have a lot of it and make some more so you do not care about it when withdrawal time that you want comes.
That is indeed true, the payment you give is enough for the exchange because if the exchange really gives you a low withdrawal payment, it is also their loss, so consider that it is one of the struggles you should encounter and face it. Make more money, earn with bitcoin so if you withdraw it, it feels to you that nothing happened. Maybe there are some options you can try, as a trader, you must know a technique that you should do so that you can earn bigger. As a trader, you should also look at the easiest and profitable side.

Most of the exchanges use 0.0005 BTC as withdrawal fee, I only know about Yobit which charge 0.0012 BTX per withdrawal.
0.0005 BTC is not a big deal I think. However, you can use lihhtning network too in the future, at the moment, there's no top reputed exchange using lightning network.

This isn't Bitcoin's fault, there's absolutely no need to pay such high amounts for network fees, and exchanges actually don't do that, they keep the difference between their withdrawal fee and actual network fee for themselves. In 2016 withdrawal fees used to be lower, but then they skyrocketed in the end of 2017 during the heights of the bubble, and after that exchanges "forgot" to lower their fees, since they probably noticed that people pay it anyway. They also incentivize people to keep their coins on exchange, so they would be more likely to trade and thus pay their trading fees and make profit for them.

The reason is simple, exchanges aren't meant to be used as wallet. High fees is actually good IMO. It acts as a barrier for those lazy asses who think it is good idea to keep bitcoins on exchanges and send whenever needed. But it can be disastrous.

Also $9-12 you see is not network fees. It is arbitrary fees exchange charges from you. Exchanges rather make batch transactions combining various withdrawal requests in a single transaction. Not a while ago if I remember correctly, Bittrex used to offer free of charge withdrawals. However, with time they raised fees to as high as 0.002 BTC.

As a Bitcoin-only exchange (https://blog.vbtc.exchange/2019/the-future-of-vbtc) which is offering very competitive trading fees [0% maker; 0.25% taker] while having to comply with local regulations in Vietnam to offer a consistent and stable service to our clients, the revenue has to be generated somewhere in order to keep providing such a service.

While you might be able to buy also in the OTC markets, you most likely will end up paying a higher spread than if trading directly on an exchange platform.

Moreover: If the exchange has a proper cold storage set up, the withdrawal fee has to basically cover for three transactions:

- Deposits moved into Cold Storage
- Cold Storage transfers into Hot Wallet
- User withdrawal from Hot Wallet

...without a Cold Storage, you can reduce this from 3 to 1tx the exchange has to cover... - but this comes at (naturally) a much higher risk, that the exchange might go bust if things go the wrong way.

Ultimately: You get what you pay for.

Operating a service such as this costs significant $ and if one is cutting a few corners too much in order to beat the competition by another basis point or two, the users will ultimately pay the price for it.

What else can we expect?  Exchange is a business establishment.  They establish it to make money, so they will definitely charge every action their client made on their platforms such as trading fees, and withdrawal fees.  And if the situation allows them, they wanted to get as much profit as they can from these charges. Exchange is not a charity that will let us use their service free of charge.  So it is either we deal with it or stop using their service.

I think if you compare it to fiat withdrawals, it is still cheap. Besides, they need to  money to keep their business going so I guess they need to charge extra. And we don't know what exchanges you try though, much better if you tell us so that we can we see if they have the 'rights' to charge such high fees. Maybe the network is clogged that time. Anyways, here is one example why it is cheap: Bitcoin whale moves ball busting $1.1B for just $83 (https://thenextweb.com/hardfork/2020/01/15/bitcoin-whale-moves-1-1-billion-83-fee/).

Considering huge amounts of withdrawals then obviously $9-12 is very cheap. But the point here is, what about small withdrawals? Well, since bitcoin price continues to increase so the fixed bitcoin withdrawal fees on exchanges increases in dollar value too. But I think exchanges will lower withdrawal fees once bitcoin price reaches ath or more. For now, there is nothing we can do but using altcoins on withdrawals can be a good alternative. 

That's like a uniform fees, It seems that every exchange wants to follow a certain range of exchange rates which I found absurd. High withdrawal fees has become a headache even before, but like most of the people do, we can't avoid these fees, specially if we are trading or use an exchange for a different transactions.

No doubt about it, since bitcoin has the most valued price in the market, exchanges also wants to earn out from it. Higher valued crypto higher rate of fees.

It will be very normal since bitcoin price is getting higher now ,so fees will go higher as well, if you want to lower the fees i think  you may convert it in XRP for lower fees and faster transaction. But it is up to you, exchange fee is so high for me it will lessen my earnings since I only got salary here in bounty so it is bad for me .

The exchange fee will be higher if the value of bitcoin increases.
In some exchanges the fee are really high but with other top exchanges, you can get at 0.0005 withdrawal fee per transaction, that's already 5 usd at the current price but actually that would not hurt you if you are making money in an exchange.

In exchanges, you can do trading and through trading, you can earn a  lot of profit there if you're good at it. So exchanges fee are very expensive since you're using their platform for your benefit. Bitcoin price is going higher so expect that fees will go high too, it's directly proportional to each other.

Bitcoin is the target of all of the devs that creates good exchanges, they wanted to earn profit as well from their users.

That's why most traders trade it beforehand to other cryptocurrencies with lower withdrawal fees such as Ethereum and XRP. The fees for Bitcoin is just quite high for regular withdrawals. However, the problem emerges when you want your coins to be Bitcoin, in which case you'll be forced to withdraw with high fees, or find an e-wallet service supporting direct exchange of cryptocurrencies (even only the top ones) with significant lower fees of conversion.

I would have given you a merit  but you choose to hide your link to  your blog page.

You offered some inside as to multiple transactions to send the btc correctly. Plus keep it protected while you hold it. I do believe most of us would not realize this is a real expense incurred by a good exchange practicing safe money keeping.

the number of bitcoin users every day continues to increase and it also increases the number of bitcoin transactions every day, maybe one of the reasons why the fees are very large is to limit the number of transactions that occur so that transactions can be faster confirmed

I've also tried many exchanges before and I think that is normal. Every time bitcoin's price goes up, fees in exchanges goes up as well in fiat value.
So if you plan to trade only a small amount, you should also deposit additional funds that can cover that fee.
If you are a whale trader, that fee is already good in exchange for receiving a big amount of money.

It is not new to us seeing withdrawal fees will increase once Bitcoin price will also be soaring high. Base on my experience, most exchanger asking 0.001BTC for withdrawal and our good option to save some fees is to convert it into altcoins which are of lesser fees. I usually doing and converted into XRP, it was lesser fees than of ETH but if we don't have other options, then we have to sacrifice some BTC just to withdraw our funds. It was disappointing but we have nothing to do.

That is why some traders are so particular in fees and so they always have to look for exchanges that offer low fees. But at this time, we could expect that fees may increase as the market rise also.

Yes bitcoin transaction fee was really huge when the transaction will be made and held through bitcoin so it would be better if you guys will try to convert it first into xrp or ethereum to avoid huge transaction fee, remember that if it is in the ethereum or xrp the payment deduction will be just a small amount of xrp or ethereum and it would be great because the transaction fee will be lessen.

Sometimes it kinda depends especially on the service they provided if it is worth the price, because it is gonna be a double-edged sword if they put the fees in a "wrong" amount.
From the days that I was still day-trading in Binance, the withdrawal fees aren't that much of something that would give me a lot of losses. Another one exchange that I traded at was EtherDelta, and to be honest it was kinda slow to even deposit, so I must say that fees aren't worth that long of a wait.

Exactly. Due to the reason of plenty transaction have been made every day, transaction fees tend to increase. Exchanges offer high transactional fees in order to process every transaction more faster and to be prioritized by miners, besides, it simply serves as their profit. As a result, traders used to convert their Bitcoin unto more cheaper transaction coins like XRP and ETH.

This is true for some exchanges out there but some exchanges have reasonable Bitcoin transaction fees. If you using Yobit or any other exchanges, it's better to convert it first to XRP then send it to your local exchanges that support XRP as well. you can also choose ETH but I prefer XRP because so far, this is the only coins that I know that have the lowest transaction fee ever and fast.

In essence, with an increase in the number of transactions, their value should, on the contrary, decrease slightly, provided that there is still an excess of capacities, because pools should compete with each other in order to maximize benefits. But I think many remember the time when there were 100,000 and 150,000 commissions, when there was a huge threat that miners would stop processing payments.

It is not an issue, just like us, they also has families to feed, bills to pay up, and other personal needs. We just have to be wise when using exchanges, in my case, if I really needed the money as soon as possible, I will convert my bitcoin in a token that has lower transaction fee when you are withdrawing it our from your wallet in a certain exchanger to your cryptocurrency wallet.

Examples of that tokens are XRP and ETH. But if you are going to hold your bitcoin and you need to transfer it somewhere safe, I guess the transaction fee is worth to be paid.

Indeed, it has been a long time since the problem of bitcoin withdrawal fees is high, every exchange it imposes is most likely due
bitcoin prices are increasingly expensive and the difficulty level of mining is increasingly difficult to make miners costs so high.
From here is the beginning Bitcoin withdrawal fees are increasingly expensive. But in this regard there is already a solution, by first
converting your bitcoin into coins others that have lower withdrawal fees, before making withdrawals from exchanges. Due to withdrawal
fees such as ETH, XRP, XLM, LTC and DOGE are much cheaper than bitcoin.

Just some tips for you guys! Use XRP when withdrawing in any trading website, withdrawing using XRP is instant and the withdrawal fee is very slow I am using XRP in almost all of my transactions considering that it's speed and fee is outstanding. Honestly, like it or hate it bitcoin traction is not ideal, it's fee is too damn high and the speed is very slow, so use alternative cryptocurrency when you want a hassle-free transaction.

well indeed for withdrawals from the exchange to another exchange you can use altcoin such as litecoin, XRP and Tron which in my opinion have transaction speeds and are proven to be cheaper, imagine if bitcoin becomes very expensive, shipping costs will certainly be expensive too.

Just like the post above me to solved this problem you can use altcoin instead of btc because altcoin usually have low fees compare to bitcoin but one of the main income from exchanges besides trading fees is from the withdrawal fees too and i think they don't have any plan to reduce it even if someday bitcoin price higher than now i'm sure they will increase the fees too following the price

Despite these exchanges having their own native token for the fees of the traders, they themselves don't accept these tokens as fees in withdrawals. Take BNB for example, instead of them asking BNB for the withdrawal fees, they asks BTC. Even the rest of the exchanges like Kucoin. I have no idea which exchanges nor DEX that don't take BTC as withdrawal fees. WAVES DEX asks 0.01WAVES for withdrawal fees but their gateway will still asks BTC.

I still think exchanges should let users choose a "slow" withdrawal method that involves using 1 sat/b tx fees. Yes, even funds being moved from their cold wallet.

If you want to withdraw $100, $10 in fees is too much, and there are people willing to wait in exchange of paying less. But exchanges don't ever think about it and blame it on Bitcoin.

Using an altcoin is no solution when you want to cash your profit and hold them in Bitcoin. If anything, this is an anti-Bitcoin practice, exchanges should be more mindful of what this implies.

Aside from the said altcoins above, I would like to add, you can also use doge to have a cheaper withdrawal fee. It is much cheaper than xrp, but if you prefer to have a faster transaction or maybe instant, XRP would be the better option. I also use this most of the time to avoid high transaction fees.

there is no big cost of withdrawing btc for the exchange. they make enough from trade fee's to cover their running costs.

the reason they do it is to two fold
both are about not wanting as many people taking bitcoin out so easily.
first people end up trading more often to make enough profit that the fee is immaterial amount.

and the other is to slow down how often people arbitrage by taking btc out to then put into other exchanges. yep by people converting btc into an altcoin to then withdraw means the exchange keeps the btc because less people are taking out the btc.

other reasons are that it stops people just wanting to play around with $50 worth of bitcoin as it costs 20% to take their funds out. so people end up playing with $500+ so the exit fee is only 2% and easier to make 2% extra profit to make that fee negligable

. if the fee was only 20cents more people would do a single trade and exit and drain the exchange of their cold wallets. by putting it up to $10 makes them keep coins in for longer

..
its the same game fiat banks use.
by having daily withdrawal limits of $500 ATM and then put charges on ATM withdrawals. people are less easily wanting to take money out of their bank

I also don't get this thing when I try to withdraw my coins that why do they ask us that huge amount when they don't even send half of what we paid them in fee? Is it not a way for them to make money? I can go for altcoins but then, what is the use of Bitcoin? Why can't we have 5k satoshis in fee instead of 50k or 100k? The alts we choose to withdraw, need buyers in real world too to sell these to them directly without finding a way to convert it back to BTC or Eth.

There is not much that we can do about it. The exchanges are not legally bound to have an upper threshold on the withdrawal fee that they charge. And that means that they can charge whatever they like. In the end, it is up to the users to make the decision. If they don't want to pay such high fee, then they have two choices. The first one is to use an exchange with lower fee. There are thousands of exchanges out there, and it is not that difficult to find one with lower fee. The second option is to first convert your BTC to BCH or ETH and then convert it back to BTC after the withdrawal. If the amount is not that large, this is the method that I use.

It depends on the whole exchange. In fact, it is another way of revenue. They will take the trading fees and also withdrawal fees. However, not all exchanges are the same. Depending on which exchange you use. Many exchanges have seen withdrawal fees asking 0.001 BTC, while many others have 0.0005 btc. So first see which exchange offers better benefits. Must you need to choose a reputed exchange. I have many exchange offer low fees but they are shady exchange.

That's the price we deserve from a better, quicker, and private system. That's worth it for security services, right? after all the fee depends on the price set by each exchanger and the amount of withdrawal. This is a list of fee comparisons in BTC and eth of some of the top exchanges.
https://i.postimg.cc/Hx8kq2hf/exchange-fee.jpg
Is exchange decentralization a solution to this transaction fee? not necessarily, surely there are other issues related to trading security and volume and comfort in trading, so it's worth it. Is not it a problem of high fees but you get a satisfying service?

Unfortunately, the less miners we have the higher the transaction fees go. It also depends on the exchange that you are using.

Generally, international exchanges have higher fees compared to local exchanges that are available in your country. Preferably, you should check whether you have a local exchange in your country and try withdrawing your BTCs there. If your country does not have one, then I would suggest withdrawing your BTCs in one transaction to avoid high and continuous fees.


This is actually very useful! Converting your bitcoins into other tokens can potentially lessen your fees but you should look for an exchange that has the best rates in order to maximize the value.

It's not a lacking of bitcoin. I can agree with that trader or normal bitcoin user suffer because of huge transaction fee. But i think it's exchange demand. And in many way it's right also. They giving us  some benefit like multiple trade system in one exchange, security for your asset etc. So they can offer you some fee whatever it's low or high. After all they are running a business.

There is couple of ways that you can reduce your transaction fee. Buy some popular altcoin like XRP or ETH and withdraw altcoin where you want to transfer, then after transfer use altcoin to buyback your btc. It'll save some dollars. Other hand if you don't want those mess then try to use those exchange whom provide low transaction fee than others. You can see more details here (https://www.finder.com/cryptocurrency-exchange-fees).

Unfortunately, this kind of behaviour is quite rampant in the cryptospace.

Since this is a third party exchange that you are talking about, they are able to set their own withdrawal fees as opposed to adhere to the current average fees that are actually needed to get confirmations on the BTC network.

Most exchanges if you dispute this figure will likely tell you that there are costs associated with processing deposits as well as withdrawals, which is why their fees are beefed up. This is true to a certain degree, but when you see exchanges charge 0.0005 BTC when the average fee is in the 1k sats, it's certainly not fair for the users.

although the bitcoin withdrawal fee is only 0.0005 BTC but when the bitcoin price conditions at the exchange place, the value will be very expensive, because when the bitcoin price is already expensive the costs will not change precisely and the place of exchange that implements cheap fees is still very little, many of them they have very expensive withdrawal fees, it is better when making inter-exchange withdrawals using cheaper and faster altcoin.

Not exchange charge this high, for example, the Binance exchange currently charges 0.0004BTC, which is about $3.9 they actually reduced the transaction fee. Exchanges are equally doing this for business purpose, they have a lot of expenses too.

Of course, many trading exchanges charge a fairly high percentage for the transaction, and many cryptocurrency users are unhappy with such greed, especially if the trader appeals with a very small amount of Bitcoin for withdrawal.  Such situations significantly deplete the trader, If you too often withdraw Bitcoin in small volumes.  But we must also take into account the fact that the legalization of cryptocurrency and taxation of trading exchanges in any case will be an occasion to increase the commission for withdrawing Bitcoin and this amount may increase several times.

We can't do about it since as you said that they do have other fees that they are paying. The fact that we are storing our coins into their websites because we are avoiding the high fees for withdrawal.

Some website does have a higher fee on withdrawing bitcoin and much lower fee's on some alt-coins, That's why some people smart-out exchanges by withdrawing altcoins rather than bitcoin to avoid high withdrawal fee.

It is just the reality after all and that is why I considering all of the fees including the withdrawal fees before I opened an account in a certain exchange. Most of the reputable exchanges have a high withdrawal fees and there is nothing we can do about it. I'm a day trader and I following my plan first before I withdraw my coin. In order for me to save money, I only withdrawing monthly basis where I have limit of 1 withdraw every month.

Yeah, that's make sense to me. In Kucoin exchange bitcoin withdraw fee is 0.0004 satosi. It's really a small amount for 1 bitcoin if we are not convert as a FIAT money like dollars. But when we convert 0.0004 satosi to dollars then it's going to around 4$. Actually BTC price condition is the main fact in this situation.

Other hand if we see again in Kucoin XRP withdraw fee is 0.1 XRP (More than BTC withdraw fee when we see as a asset). Which means 0.027$ if we convert to USD. Per bitcoin right now 10k and per xrp is 0.27$. So clearly the main fact is price condition. Our problem is we are not able to use BTC like FIAT money (not at this moment). When we'll use BTC like FIAT money it'll never be a problem like this.

Absolutely right only btc withdrawal fee is too much high in the all exchanges. Yobit exchange taken 6$ for withdraw 20$ it’s really damn high. If i had no need to btc than i always go with eth payment to avoid high fee. I think coinbase is very lower fee in btc withdrawal form other wallet or exchanges. On the other things here you can withdraw by using mail without no fees.            

Many exchanger have their own withdrawal fee.But most of the exchanger withdraw fee is high, only few reputed exchanger withdraw fee is low.Hitbtc,yobit and many exchanger charged more than 0.0012BTC,which is more than 12$.Thats why I love to trade in kucoin,binance.there withdrawal fee is lower,around 0.0005BTC.But I always try to exchange my btc to ltc,to avoid higher fee.you can also try this method.But Nothing to do about higher fee,because they will not reduce the withdrawal fee.Otherwise you should avoid those exchanger that ask higher withdrawal fees.

Yeah, it is really disappointing to see but if you don't have any choice, you'll going to sacrifice some bucks for this thing. Anyway, it won't get bothered if we will transfer a huge amount but if that just of a small amount, it feels not right and not really acceptable to our end.

https://bitcoinexchangeguide.com/lowest-cryptocurrency-exchange-trading-fees-list/

Fees could be sometimes considerable and traders would like to save some rather than to pay fees. But it also important to look for reputable exchanges rather than to consider most for a withdrawal fee.

Unfortunately yes,  there is a high value of Bitcoin fees in all the exchanges except few, but remember that the owners of these  projects want to secure their financial income, and that is a  necessary step to be honest, trust me if you are in their place then you  will definitely do the same. In fact, the value of trading  fees are so high especially in Binance exchange, it is certain that the  trader who is affected has the smallest profit especially the newbies in my opinion. We need to deal with it, there is always many ways to make money no matter  how hard the situation is. Giving excuses will never help you in order to reach your goal.

It is a very common problem of BTC, high fees. Well, BTC is the most precious crypto. Every exchange can earn more money from this coin. We know that everyone loves Bitcoin and willing to have the coin even by withdrawing them.
To cover this situation, commonly I will convert the BTC to other coins that have low fees for withdrawal. then, converting it again after on the other exchanges. However, if it is sent to your wallet, that will be the risk, the high fee to be included.

Some exchanges already lower the fees on withdrawal considering bitcoin price is increasing this year, adjustment is needed and needs to be done enable to balance the fees. But I guess some traders are not using BTC to transfer their assets across exchanges they are using altcoins with cheaper fees but if you are withdrawing it in your cold wallet you need to accept the fees. In 2017 I encountered a $20 fee just to transfer a bitcoin.

Means that if the exchange gets bigger, what I mean is that if the exchange has a large volume, the withdrawal fee will be smaller? if like that, most exchanges only charge around 50k satoshi to 100k satoshi as far as I know. I rarely use bitcoin and mostly use altcoin so I ask about this :D

that is very exaggerated words about Bitcoin mate because  we have options upon withdrawals and exchanges,you can find some fees rate in this site

Cryptocurrency Exchanges (https://forkdrop.io/#table-exchanges)

in which you can choose between their Fees rate.

also you can visit this thread though it was written in local but you can use google translator to understand the topic.

https://bitcointalk.org/index.php?topic=5152422.0

I have used almost two dozen different exchanges till now (2012-present), and I have seen withdrawal fee ranging from BTC0.0001 to BTC0.0015. Perhaps the highest withdrawal fee that I ever paid was with the Yobit exchange (I think that they have reduced the fees now). Nowadays I don't care much because I am not doing much trading. And I am mostly using peer-to-peer platforms to convert my cryptocurrency to fiat (or the other way around). The problem is that many of these exchanges had this withdrawal fee of 0.001 BTC or 0.0015 BTC in 2015 when the price of Bitcoin was just around $250. The prices have risen by almost 40 times from that level, but most of the exchanges haven't reduced their fees.

There is a big chance that these exchangers are using the fastest speed of bitcoin transaction so you can receive your money in short period of time so it will not stuck for few hours because the transaction fee is very low.

But there are few exchangers out there also that they just do this kind of stuff just to earn, it will be best if you will just avoid these kind of exchangers if possible so you can save. Or you can just sell your bitcoin and use other currencies that has a low transaction fees like Ethereum,XRP and etc.

I have the same opinion as you. I am also quite sure that the current lack of bitcoin is a sizable fee. because of that, before sending bitcoin, I sometimes exchange it to altcoin to minimize fees. Well, I sometimes use waves, TRX, ETH, and other altcoins to make deliveries.

Well, that has been in existence and not new to us. If you're a trader ensue to trade your coins on exchange and after which you convert to altcoins to minimize transaction fee while transfer your coins to your wallet.  One of.my secret in trading and gambling is, after trading with Bitcoin and gamble with the said  coin, I then swap them to altcoin and move them out of the exchange with a less transaction fee.

There is nothing new to this issue and there is nothing we can do to reduce it.
That's is also why we have alternative options that we can use to avoid paying high transaction fees when initiating any transaction using bitcoin. I am currently using altcoins to withdraw (which is also been done by most users), like XRP and ETH, this way, you can minimize your transaction fees.

Bitcoin itself has already a high withdrawal fee and TBH, I also experienced the time when the price of Bitcoin is at its peak last 2017 and the fees per transaction at that time went to 0.001 BTC.


Business.

This will answer your question why they are asking this high fee :). If you don't like their fees, don't use their exchange. Simple as that however if you are a good trader, you must know that there are other altcoins who has lower fees like Doge or ETH or LTC. You can use them. Convert first your Bitcoin into other coin like Doge then withdraw it then convert it again into BTC. More hassle but in that way, it will reduce the fees ;).

From what i see, at past exchanges increased withdrawal fee first. And then, price keep increased so it looks like exchange have really big fees if we count it in USD, but people's assets is bigger too.

It is often to see that once the market moving high the fees may also increase, in fact, I'd notice it last 2017 Bullrun. Well, maybe it is not right to condemn exchanges that collecting high fees because that is only the way they could save them and stay alive, and it's up to us if we will like to use their service or not. Anyway, we have a lot of exchanges around and most likely they are of similar fees 0.0005-0.001BTC. I know it wasn't fair for us but because fees aren't standardized therefore, they could still be allowed to collect that amount.

Well, the market has a lot of big growth, especially the value of bitcoin is overestimated, with this estimate, exchanges need to establish a fee that is consistent with that value, if we don't feel right, we can look for other exchanges with lower fees or convert to some stable altcoins, the cost will be adjusted accordingly. In addition, the high fee for withdrawing bitcoin is also a strategy of exchanges, it's not entirely bad, it will limit the situation where bitcoin is leaked too much, the market will be harder to collapse than normal

All exchange have the same value for withdrawing bitcoin about 0.0005 btc each transaction, but you can manipulated with lower fee payment transaction by convert before your bitcoin withdraw to be altcoin have cheap or lower price like Ripple, doge and you can use xlm coin.

My suggestion is try to convert it on the other kind of coin first. Try to exchange it for ethereum and ripple first because these two coin has a low withdrawal fee. Many people are doing it for them to be able to avoid the 10$ withdrawal fee of bitcoin. It will for surely gonna save you a big amount of money so try it and check it out.

That's what I basically did if I want to transfer my fund from an exchange to a wallet I own then sell it to either fiat or back to btc. In my case, I can convert my btc to eth using the wallet I use. Most people in my country also use the same wallet that has a feature to convert  your eth to btc or fiat.

If you don't intent to store the amount of Bitcoin you bought into a wallet but want to sent to another exchange instead, then you can trade in another cryptocurrency that has the lower withdrawal fees and then rebuy Bitcoin on the other exchange. You will certainly pay less in fees this way.

My exchange (MercadoBitcoin, a Brazilian exchange) asks for 3 BRL (~0.75 USD) + 1,99% of the value you'll withdraw. So if you're withdrawing 1 BTC...

They get 900 BRL.

That's one month of minimum wage right there.

The truth is that the only Exchnge that I use to pass my BTC to my wallet or any other Exchange, is from Binance activating the part of its BNB currency, with that they charge only half that is 0.0005BTC per fee, it seems to me that it is more reliable than That way, and Coinbase also has a good fee rate. Of course it is under my personal experience.

but you always have a choice mate because if the one exchange has high fee then the others have low,check this out for references https://forkdrop.io/#table-exchanges
maybe you will find the exchange fees you want in each occasions .
sometimes all we need is just to find option because in crypto world we have lots of choices but only if we can find them.
while Binance is the most popular in this time of ours still there are some others that we can use with lower fees.

If you are not in the need of btc or you are just need to transfer your assets to another exchange, this kind of act will fits you. It's practical to convert
crypto coin to another assets that have much lesser withdrawal fee. As long as the exchange or wallet that you'll going to use as receiver also have
the same  address with whatever crypto coin you'll be going to use.

in general, this is something people often do when withdrawing bitcoin. However, if you don't want a large fee, I think there are a number of new exchangers out there who provide free event fees, or discounts. You can also try to use the token system on some exchangers, by using tokens from their products, sometimes the cost is reduced. but, I would suggest using another altcoin.

Not because the price is high meaning the fee are high also,because there are also cheap currency that has higher fee.
But there are exchanges that offers lower fees,so why need to stick on high fees exchange when we can use the cheapest?but of course find legit one and don't be scammed.

That's right, that's why it's hard for a small time trader to even start trading because there are some exchanges that requires large withdrawal fee and also the minimum amount to be withdrawn is too damn high, but there are some exchanges that offers their great services, low trading fee, low withdrawal fee and low withdrawal amount just try and search for the right exchange for the amount of how much you want to trade try Bitpanda it's a good exchange with low withdrawal fees.

This is really shamefull for exchanges because they are not giving any space to users today I was checking on yobit they are taking 0.0012 and hitbtc is taking 0.0015 its not accetpable as this is not good for users those came here for less fees and fast transactions they must think what are they doing with this its really bad for them and users.

This is so true and sometimes i think the exchanges are extorting huge fees from us. Initially i thought it was because bitcoin was at very low prices below $5K but i have realized that no matter the price increase in Bitcoin some exchanges are still going to take huge fees.
I have this view that the withdrawal feels should be constant but based on the currentt trading price of the coin. So for instance, if bitcoin should be at $50K would Binance still be charging $0.0005 BTC? That would be huge and insane

Regarding the expensive bitcoin withdrawal fees in almost all exchanges is not new, discussions about this have often been discussed.
Many factors cause withdrawal fees to be expensive, one of them is because bitcoin prices are expensive compared other cryptocurrency
makes withdrawal fees expensive. The next reason is because exchanges need income, to cover operational costs and also so that these
exchanges can remain financially healthy by increasing the cost of withdrawing bitcoin.

In most exchanges, the average fee for withdrawals using BTC is around 0.1-0.2%, and the highest is 0.5%, one of which is on Coinbase. This percentage is the authority of each exchange, so it is better if you want to trade on an exchange we must first read the rules to the fees of transactions there. If the 0.1-0.2% range is normal I think, not too high so even novice traders can handle this, after all with a good level of security even though it is a little longer, BTC has provided many benefits. and it is comparable to the services provided by the exchange, remember to choose an exchange that truly provides the best service, such as Binance, Huobi, Kucoin, etc.

With this alone, traders and investors are scared away from some exchanges due to high withdrawal fee. I think exchanges should work on how they will lower there withdrawal fee to as to attract reputable and the common traders.

First of all, the exchanges have the main income from the commission from each transaction, it is these operations that probably make up 95, if not more, percent of the income of each exchange. I can’t imagine that some kind of exchange functioned only thanks to the conclusions of users.

this is a serious problem especially for people who want to trade using bitcoin or do a bitcoin withdrawal between exchanger A to exchanger B
in my opinion the solution is to use altcoin to make withdrawals if you don't want to incur large costs
why is the withdrawal fee so expensive? the answer is that the exchanger adjusts to the cost of gas to make standard or fast transactions that depend on the number of transactions on blockchains and miners
so we cannot blame why transaction fees for withdrawals from exchangers are so expensive

I also support the use of altcoins as transaction fee and I think exchange coin will be good substitute. Though some exchanges reduced the transaction fee lately but the value of bitcoin always bring the reluctance to loss any quantity of bitcoin to anyone. If my observation is right most exchange use a fixed amount for trade not a percentage, wish I think its considerable for all quantity of transaction.

The withdrawal fee using bitcoin is too high compared to other coins. I don't know what's the real reason why their fee is huge but my guess is they want you to receive your bitcoin immediately.

My strategy is to use some altcoin to transfer my funds. However, if your wallet does not support altcoin you don't have a choice. Mostly the fee in exchanges nowadays in withdrawing bitcoin is not less than 0.0005 BTC. If you convert your funds and withdraw in XRP like I'm doing it will cost only 0.1 XRP( worth 0.028$) withdrawal fee. I don't know any other coin to use as a replacement in bitcoin to lessen the fee. I use XRP because my wallet in withdrawing my bitcoin accepts XRP too.

Have you tried cex bro? I assume not, as it is a pretty new trading place. Well, as for me, it offers pretty bearable fees. However, what’s ok to me, can be too hight to you, so check it yourself – https://cexbro.com/. There is a bot on the main page, you can ask questions there if you will have any.

Majority crypto exchange have high withdrawal fees for bitcoin and i think we cannot avoid it but as the posts above me if not for trading i think you can use altcoin for withdrawal purposes instead of bitcoin because altcoin fees usually lower but i think currently you would not find the exchange with low fees to withdraw because besides from trading fees then from this way also the exchange can get their income

Maybe you haven't noticed that most of the top exchanges already reduced the withdrawal fee by 50%! In Binance, Bitcoin withdrawal fee is now 0.0005 BTC, which is quite lower than before! If you feel the fee is still very high, you may convert it into the Litecoin and then withdraw it. There was a converting service in Myetherwallet that you van convert ETH to BTC by 3$ charge, you may have a look!

For some known or reputable exchangers.Of course they would actively change those withdrawal rates basing on the current market condition but i would like to say that
there are exchangers that havent done such thing. Want to know?

-Yobit.net/io
-Hitbtc.com

These are exchanges i know that havent changed up and stick to that ridiculous high fees.