Bitcoin Forum

most of the coins you mention are altcoin and it's very risky to move those coins because of fluctuation. So it's not safe to use those altcoins for saving withdrawal fees. I suggest using TRC20 based USDT coin for the fastest speed and lowest withdrawal fees. I use TRC20 based USDT coin most of the time because it's fast and there are no withdrawal fees.

The transaction speed is almost instant so I believe the fluctuation is less of your concern if that's the only thing bothers you. Some wallet doesn't support this coin since its on Tron Blockchain so it's still depends on the wallet that the user use to decide what coin to use for withdrawal.

Good input OP, I never thought that XLM has a low transaction fee. I usually use XRP since most of the wallet supports it.

Yes. Most of the other exchangers are not supporting TRC20 Based USDT. XLM withdrawal is almost instant and very low fee also.

Not sure about the processing speed, but they do have coins with way lower fees, see here[1]. Obviously, though, most of these coins aren't worth holding.

[1] https://withdrawalfees.com/exchanges/binance

What raises my surprise is the big differences between the transfer fees between the different exchanges, let's take the fees in two large exchanges such as Binance and HitBtc. We will find that there are very large differences between the fees take a small example of the most famous coins in the market:

               Binance:                                 HitBtc:
Btc:       0.0005 BTC                           0.0009 BTC
ETH:      0.005 ETH                             0.0102 ETH
TRX:      177 TRX                                372.5 TRX
DASH:    0.002 DASH                          0.0781 DASH
LTC:       0.001 LTC                             0.053 LTC
USDT:    11 USDT                                20 USDT

These are big and clear differences between the two exchanges, my question is why there are such big differences in fees between platforms?.

I am also a fan of binance especially when it comes to low withdrawal fee and fast withdraw transfers, in last 2 weeks or so i have made multiple transfers out of binance and not only the process was smooth but i also liked the fact that they charge low fee unlike other exchanges.

It's because they can charge whatever amount they want and it's another way to boost their profits. They might've lost a lot of small traders for not adjusting the fees but it doesn't matter that much to them since they're still making a ton based on their trading volume.

On the bright side hitbtc users can still save fees by using other altcoins like doge and eos.

https://withdrawalfees.com/exchanges/hitbtc

Yes true, the transfer fees do not matter much to them because they earn a lot of trading fees, for the HitBtc exchange it is good that they left some small fees as you mentioned Doge, Eos, the funny thing is that they only take 2.5 Doge as fees on Doge transactions and that is really nothing.

Your list and calculations are okay only for small amounts and transfers.

Let me show you with 1BTC.

Direct withdraw: 1BTC with 0.001 fees is equals to nearly $24.3.

BTC to Alt to BTC with low withdrawal fee: 0.1% trading fee + let's say 10c fee +  0.1% trading fee equals to $50 in fees plus the risk of different rates BTC <> Alt.

A great thread from the OP, which provides an eye for newbies to maximize trading income from the Binance platform with efficient withdrawal fees.


Good example, where you have $ 24k of BTC but you love $ 24 more. There is nothing wrong with all of us if you want to maximize our trading profit on Binance, and if you are not willing to spend 0.1%, you can cover that cost by making a few trades in a short amount of time, and make as little as $ 30 profit to pay for the withdrawal fee. your

Your calculations are good. Alt coins are not a good option for Large withdrawals.
If small withdrawal, Alt coins are the good option for reducing it's fee.

NEO is free .

The fluctuation of these coins are too high and therefore, it is risky to withdraw our money using these coins. The only strong coin is XRP but now, it is sued by the SEC and the FUD damage XRP a lot. If I have to choose, XRP is still a wise choice than others

Interesting list. But I do not understand a little, as far as I know on binance, the conclusions are periodically checked manually, or does this not apply to the above coins?
I'm just going to make a withdrawal from the exchange, and I'll try one of the methods you listed.

Altcoin networks have lower hashrates than bitcoin network. This fact causes a higher risk of double-spend attacks as Ethereum Classic network has a few times in 2019.
Ethereum Classic Attacker Successfully Double-Spends $1.68M in Second Attack: Report (https://www.coindesk.com/ethereum-classic-attacker-successfully-double-spends-1-68m-in-second-attack-report)

Altcoins have other bad things, higher volatility in their price with serious pumps and dumps. You need to accept risk that after you make withdrawal, when you wait for a while and receive your coin, the price of that coin can be dropped 20% or higher. Terribly.

Last but not least, you should not choose one coin as a withdrawal means if you don't have interest to invest in that one or at least don't want to trade that coin.

Very interesting thread you crested here, before seeing this thread I remember googling how to withdraw with lesser was from binance after trying to withdraw with bitcoin and fees was turning out to be too much for the amount I was withdrawing then Ripple pumped up as the best alterbyback then.

I remember withdrawing and it got processed almost instantly as the OP indicated above.  I also tried using it for deposit and the same result was the case. You could save a lot using the methods highlighted above by the OP but do understand they have their risk associated with them and when comparing you might be better offer scarifying few dollars than losing hundreds of dollars in the process.

Ripple has been experiencing some downward momentum that might not be ending anytime soon and if I'm not mistaking, it lost value above -30% in a particular day now imagine making a withdrawal that exact minute obviously you'll regret picking this particular withdraw method over BTC and yes there would be certain users that experience same scenario I just painted here.

Well, I commonly use These for withdrawal, they are fast and also very low.
however, actually, if I withdraw the coins from Binance, I think that the most exchanges that I will aim are my local exchange, ANd there is a local exchange with internal transfer from Binance and it is actually like (free). And that is why if it is from Binance, maybe I will only use that internal transfer for any coins that can make the fee is also very low with fast speed.

Thi sis also very helpful. Binance has it.. But for other exchanges, there may not support TRC20. if there is any, I also often use this to withdraw to my local exchange.

Why Enigma token not included on the list? I have tried to withdraw Enigma token on Binance Exchange which I just want to transfer to another exchange, I tried Enigma and no transaction fee for the withdrawal, you can check it here: https://www.binance.com/en/fee/depositFee
I also tried withdrawing USDT on the Binance under the Tron network which my goal is to transfer to another exchange, there is 0 withdrawal fee.

Im curious but since btc withdraw fee is higher than other coins... are there some of you that trade all your btc for an altcoin like nano or stellar first and withdraw that way because the fee is less?  Thus imagine you have btc on binance and want to send it to coinbase/gemini to cash out to your us bank account.  If you trade it for stellar for example, then you pay a smaller withdraw fee and then just sell stellar on coinbase/gemini?


Or do most ppl avoid this since its another transaction of selling the coin?

This is of course knowledge that needs to be listened to and endeavored to carry out proven transactions because obviously we cannot deny it in a situation like this which is currently in dire straits due to necessity and so on due to a pandemic that does not end quickly. then the alternative that you have provided is certainly very useful for carrying out and executing so that we can get at least the cheapest, if there is a free one, of course it is very desirable.

thank you mate, for the information you provide, hopefully this will be a reference for friends who are looking for the cheapest alternative because it is also important at a time like this to at least save what we can do.

This is very useful for me as a Binance user, because I often make withdrawals from Binance. Usually, the profit I get from trading on Binance,
I often transfer it to the local exchanges when going to cashout. So I often try some coins that I think have fast confirmation and are also cheap.
From the list on the opening post, I often use XLM as the cheapest option for withdrawal fees, but the other coins mentioned are also very good
in my opinion. Maybe I will try it if it turns out that XLM is undergoing maintenance.