Bitcoin Forum

For a quick transfer of funds between my bots, I collect information about which exchanges are the fastest for withdrawing alt-coins, mostly BTC and XMR. Please share your experience.

Based on my experience, FTX and Kucoin have been the fastest, with the slowest being Binance. The speed difference isn't that substantial though, and the withdrawal speed of these exchanges(the time it takes before the withdrawal becomes confirmed off-chain) can vary from time to time based on my experience.

In my experience the 2 exchanges (Binance and Kucoin) don't have much speed difference. Generally any exchange applies the same withdrawal procedure, fill in the withdrawal form > confirmation email code and or authenticator > done. The approval and withdrawal process will not take more than 2 minutes and it will be marked complete even though it has not reached 1 blockchain confirmation.
But I'm not sure if withdrawals can be made by bots, because they have to go through the code confirmation step.

Most of the exchange withdrawal speed is almost instant to process, There's just some variation in few minutes on there approval but its not noticeable. They are all charging flat rate in terms of transaction fee which means they have same standard speeds for the transaction. The speed is still highly dependent on the blockchain network speed and not on the exchange side.

Big exchange like Binance, FTX, Kucoin and Okex has same withdrawal approval speed base on my experience.

I think exchange almost the same with withdrawal speed. It will mostly matter on the network confirmation of block upon execution of the process. I find it fast when I am withdrawing from Binance compared with kucoin and huobi. Im not sure whats the reason but it has a minor difference but just a little. Well depends maybe on users doing and numbers of executing the withdrawal.

I've got no issue on using Binance or either Kucoin and by using USDT (Tron chain) as it's faster base on my experience. I think for XMR and BTC on the exchange I just said will vary on the network and the transaction fee you've put, base on experience as well especially for BTC.

I like binance and has always been using it but it's a fact that their withdrawal experience isn't quick as those that has been mentioned.

It takes a few minutes before you'll receive your withdrawal and if you ever get a problem, there's a likely that it will be stopped and delayed by them.

Hopefully as they keep on making rounds and improvement, it's going to be their next upgrade that they should speed it up.

I remember the last time I use binance which was 5 days ago, it was fast, but not for bitcoin but for USDT TRC20. What can cause delay is when an exchange will process the transaction, binance was very fast about it. I did not check the time, but OKX sent me notification for a confirmation transaction in less than 2 or 3 minutes (or less than 5 minutes) which was from binance. What I have noticed is that the exchanges I have used almost have the same processing time, they are all fast with just little differences.

I don't have experience using XMR when it comes withdrawing but on binance its always instant withdrawal base on my experienced.
wherein you need verification then its all done amd surely it's all the same with different assets in my personal opinion.

By the way i used to withdraw XRP since it has very cheap fees and most of it are usdt through p2p.

Most exchanges are very fast today! That's my impression, I really had no issues of any kind in the last few years! Apart from Kucoin and Binance, where I am regular, I also used some other exchanges (Huobi, HITBTC, and some others) so that I could buy or sell some new coins and tokens, and I must say that I have no objections to them and the speed of withdrawals!

Here is the list of crypto exchanges: https://coinmarketcap.com/rankings/exchanges/ (https://coinmarketcap.com/rankings/exchanges/)
There are a lot of exchanges, the competition seems to be getting stronger every year! In order to work and make money, they must have a good service, which means quick withdrawals, among other things!
Maybe the OP should consider DEX exchanges?! Not so big volume, but it's safer when you have your keys, and your capital is always in your wallet, so less commission than with using CEX, where withdrawal fees can be high!

I don't know any website that can give you such very detailed information. However, I know a website which gives you exchange withdrawal fees.

https://withdrawalfees.com/

You can type a coin you want to find, enter and you will be given list of exchanges and corresponding withdrawal fees. I don't know exchanges give you different options such as low, normal, fast withdrawals but on casinos (gambling sites), they usually give you multiple options.

It is difficult to analyze the data on withdrawal times, but the volumes of liquidity^[1] will give you a general idea of the faster platform, but the question is not the speed, but the number of confirmations. to deposit to another platform you need to get at least 1 confirmation in bitcoin and therefore it is better to use another blockchain if you are looking for speed confirmations.

For example, transactions on the Polygon network, BSC and others are very fast and the confirmations are lower than in Bitcoin.
You can also check the withdrawal fee^[2] here to save some money.


[1] https://coinmarketcap.com/rankings/exchanges/
[2] https://withdrawalfees.com/

The time difference is not too far to measure transaction speed. If you look at it from now on maybe using crypto transfers that are not on is something I use often. Usually, now Binance is about 15 minutes to 30. KuCoin was experiencing a traffic jam a few weeks ago. And I experienced it myself. Tried on FTX and here I certainly find it faster, Sending ETH is also not too worried. The response speed of delivery can be an alternative choice.

You should just use the exchange platform in your official locale, instead of having to use an exchange site that you don't understand in making transactions for your coins, I think it's better for you to do that.

I mean this, all exchange platforms, of course, they all want to do the best for their users, both in terms of fast transactions or satisfying service, basically: The obstacles in the coin transfer process at each exchange are network connections, internet, confirmations and so on related to transactions, that's the problem basically, the exchange platform is the same, if i may suggest you use the exchange site you are currently using and understand, it's better for you.

In my opinion kucoin and the coinbase are the best crypto exchanges that has fastest withdrawal. these are the most acceptable and most fastest exchanges and is gaining popularity. they actually takes minimum time such as few minutes for transfer. Kucoin and coinbase are both the fastest and have instant withdraw.

It really depends when you withdraw all top exchange are good but it really depends on the general traffic.

Are you series? Monero (XMR) for KYC or non-KYC exchange trading?
Most of the platforms have either removed privacy coins, imposed more analysis on them, or tried to put additional fees on them, so it is the worst option for those who want to trade using bots.

Bitcoin has high withdrawal fees on a lot of platforms.

I suggest you Litecoin, USDT, and Dogecoin.

it has to accept that no one will give you that instant withdrawal but I think it wasn't a make deal at least we can process it in a few minutes. And base on my experience, those high-volume coins will have heavy traffic transactions leading to long delays and that is sometimes I'm not going to use BTC but instead, I used XRP where I can receive my coins a lesser time compared to the others. I use Binance, Kucoin and everything seems natural to wait sometimes before it confirms.

OP: you lack context in your concern, it is very generic, for example, what amounts do you aspire to withdraw, there are always daily limits in centralized exchanges (CEX).

In any case, most exchanges work well for BTC, some have very hight fees (binance, coinbase). XMR, one time or another I have used that token, their fees are cheap and the network is rarely congested or takes more than a minute.

Good luck with the activity of your bots in this process.

^ I have been experiencing withdrawing from different exchanges but so far on these 3 exchanges, I never had experienced a delay process of my withdrawal. It is Binance, Kraken and Poloniex. But sometimes, if in BTC, you will probably need to wait long because it also depends on a BTC network congestion which is very normal to BTC. Coinbase too, just try on it and you will see.

Transacting cryptocurrency should really be fast, and I can still feel this one with Binance despite of some delay issues with them and I think the speed will still depend on which coins/tokens you are sending. I have a minute confirmation with XRP, and that could be fine for me. I have my delay experience with Bittrex before, this is why I choose to ship to other big exchange and hope for a more faster transactions.

I have a question:

do you want to know this to use in your bots?

because I have the impression that you are already using all exchanges that have fast withdrawals, but in the end I would say that binance is an exchange that sometimes takes some time to withdraw funds, but I believe you must be aware of this, or if you don't I'm already knowing

Some exchanges are experiencing some delay as well, even Binance have this kind of experience but I think its still fine as long as you received your money. What’s the reason for looking on the fastest exchange in terms of withdrawal? I believe, this should not be your main concern on looking for exchanges, still my top priority on exchanges is for my security and because of that, I’ll go for Binance.

I know... I have custom made bot for it. I have to:) 

Thank you all. The picture is very clear now.
My favourite is still Kraken, but looks like I miss Kucoin. I'm gonna correct it fast.
For moving out, yes I use USDT.
I do not care about network speed. My problem is withdrawing itself. No body like withdraw and made my life more difficult to slow me down.
I've never moved more than $10K in one transaction, old habit. If somebody use to please share.

I have used OKX exchange to withdraw funds and it happened faster than I expected. Recently, they are fast but, I think they issued a rule that every user will have a wallet address that is attached to a domain name. Like having your name as the first letters on your address. In terms of speed they are recommended if you can bypass their wallet address rule you can check them out.

FTX and Huobi in my opinion, you should look to the reputations too and not only about the fastest withdrawal. What if the exchanges offer fast withdrawal for your first and second time, but they locked your funds on the third time? Who knows.

Don't use OKX and Hotbit as mentioned by above members, it's bad exchanges and not trustworthy. If you not believe me you can do own research.

Agree with you about Kucoin and binance. This is good and solid exchanges, but binance has KYC and kukoin doesn't. There were no problem with deposit and withdraw on both exchanges. Most of cryptos you can find there and I have no reason to use other exchanges. Maybe if you US citizen it would be better to use coinbase for btc. But in other situation kucoin and binance would be appropriate for trading.
OKEX is not a very good stock exchange, before they could be traded by "rare" tokens, but purposefully, I would not trade there, recently they lost their  positions.

I am going along with what most of the members prefer.
Kucoin. Tried and tested for a long time when it comes to fast and cheap transaction. Also, they are okay with low amount withdrawals that's why it's beneficial for low capital traders and those who just want to stash BNB for transaction fees usage. I haven't tried it yet with XMR. You might want to check it first.

When it comes to speed, Kucoin would be my personal choice but I'm more comfortable trading with Binance. Well, any of these two would be a good choice since they both provide a good service. As long as an exchange is reputable, there's nothing to doubt about them. I've been using Kucoin and Binance for years and I've never encountered any inconvenience so far.

I prefer binance. Binance service is more safer for me. I read some comments that btc withdrawal is a little delayed but I think that is not just a binance problem, it is general for btc withdrawal or deposit in most exchange so not only binance. But I noticed USDT is faster so I could convert to USDT for no charge and withdrawal USDT and that is fast for binance.

Binance can be a good alternative too other than kucoin, I have tried withdrawing using this exchange and transaction doesn't take long to process, I haven't use kucoin for a long time now so I forget already if they are faster than binance or they only have the same speed but both exchange are highly trusted for our funds.

Transaction fees are not the op's concern. He is using a bitcoin as one of his coin and he is also using different bots for his trades and by this, he seem to have a bigger budget. Transaction fees can also depend on what crypto coins you're using for withdrawals. Same goes with the minimum amount to withdraw.

I will recommend kucoin and Binance for fast withdrawal, am talking from experience but I don't know maybe their will be other exchange which will be faster than the once which I just listed above, have tried withdrawal from different exhange but seriously I believe kucoin and Binance withdrawal is very fast. Have used some exhange before which I won't be mentioning names here it takes longer time before your withdrawal will be successful.

Exchanges withdrawal speed depends on how busy is the chain you're are using at that time. I could remember doing a withdrawal on Solana chain as I hear they are ultimately fast in transaction speed and then gboa! Solana network became the talk of the media that it has failed and developers are doing everything to bring it back online. I was did a little research and I learnt it reach it maximum capacity of transactions and collapse.
A withdrawal from a centralized exchanges depends on the chain you're using and also internal withdrawals within exchanges are the fastest, may be it is an offchain transaction.

There are exchanges which their withdrawals speed are very fast and reliable. One of the example of the exchange that has one of the most and reliable means of withdrawals is Binance. When it comes to TRC20 withdrawal of  usdt, it is very fast and they charge 1 dollar or one Pieces of the coin for all transactions. Though their are many other withdrawal addresses but TRC20 gas fee is cheap.

Although each exchange has a different speed when withdrawing coins, but in my opinion the difference in speed is not too much different.
So what you need to worry about is the reputation of the exchanges we use, as long as the exchanges we use have a good reputation,
there should be no problem we want to use these exchanges. Instead of choosing to use exchanges that have faster withdrawal speeds than
other exchanges, but the reputation of the exchanges is bad, it is of course very risky. So far maybe KuCoin has really met my expectations,
besides KuCoin has a pretty good reputation, KuCoin also has a withdrawal speed which I think is quite fast. Although I admit that there are
several exchanges that I use, the withdrawal speed is faster than KuCoin, but the reputation is not so good and I don't recommend those exchanges.

They are fast enough and I’ll go for Binance as well but of course we can’t expect the whole transactions to go smoothly since there are still a chance that delays can occur especially if you are transacting with different tokens.

BTC network are more prone for delays due to huge volume of traffic, though exchanges uses a huge fees since that’s a collective transactions from different users, 1hr delay might be the worst one with Binance.

I am using houbi, bybit and binance. I see the processing speed of these 3 exchanges is almost the same, the latency is not significant. Transaction processing time is about 5 minutes. I only care about the security and customer service of the exchange and I feel good about it all. So far everything is fine although there are some problems when I exchange P2P but the exchange always solve very quickly and accurately.

If you read the post of OP, OP is more looking forward to the speed of withdrawal which they gonna use for some bots. So I believe the speed is important here, and that's why OP is finding an exchange that is able to withdraw fast.

I can suggest is try AscendEx (Formerly Bitmex) and FTX Exchange. FTX got also has cheap withdrawal fees so probably it is the best alternative to use too.

In my experience, I have recently using Binance to withdraw my funds straight to either my custodial or non-custodial wallet. However, the cheapest coin that is supported with low fees is XRP when transferring from Binance to my wallets. It only took me at least less than 30 minutes (sometimes 10 minutes) to wait before the fund arrives.

As for BTC since it has high transaction fees and slow confirmation time, it took me at least an hour or less for it to be credited to my wallet.

Binance is great at everything they do, literally anything. They are great as a wallet, great as a spot exchange, great as leverage, great from support, great as deposit/withdrawal, great at blockchain development (bep20) and many other things. Whatever they do, they do it the best and that is how they became the biggest exchange in the world.

Building an exchange is not that hard, you could build a very strong and good one for under 100k, if that is all you want, but being great at every single thing like Binance and also do marketing that way and getting that many customers and volume is near impossible, would be very difficult for anyone else to mimic what they have done.