How do you avoid high withdrawal fees from exchanges?

[Neurolicious]

Exchanges have different types of fees. Some have flat fees some have fees directly tied to the blockchains attributes.
I've noticed the cheapest is usually ETH, DOGE or TRX. So I turn whatever coins I have into one of them.

[rijaljun]

I suggest to invest big so the fees can back if you earn then for more low fees i think try to buy crypto in wallets then not in trading site

You can also risk little by little but do it for long term like buy again in again until that will turn big then actually you need to understand that you really need big funds for your investment here

Big money big risk, that won't help and creates new problems instead and the second paragraph, that is doable with the little amount of capital cause why would people start with a big capital when they eventually use just little by little.

[samuraijin]

not only on bitcoin but also ethereum around 0.01 ETH or more, I often convert the BTC and ETH to DOGE or XLM because both have cheaper withdrawal fees from the exchange or can also use LTC, I worry in the future when prices go up in all markets will blackmail us with high withdrawal fees, should if the price of bitcoin and ETH rises higher, the withdrawal fee is better reduced

That's a good strategy, me too, I am withdrawing my fund most of the time in XRP as it has less fee and very fast to transact, compare if you will withdraw Bitcoin direct from exchange to your wallet, it has really a high difference. I haven't tried LTC yet, most of the time I am using XRP and ETH. Anyway, let's avoid as much as possible for our own good.

XRP does have a low withdrawal fee and fast transaction, but I usually use XLM because I exchange it to regular exchanges that are automatically converted to bank accounts, so they only support BTC, ETH, DOGE, XLM and LTC, but maybe I will try even cheaper ones if available

I worry in the future when prices go up in all markets will blackmail us with high withdrawal fees, should if the price of bitcoin and ETH rises higher, the withdrawal fee is better reduced

You mean exchanges to blackmail people? I haven't heard of that one before.

Binance for example works with a fixed withdrawal fee of 0.0005BTC regardless of how high the price is or how heavily the network congested is. I like that. It may suck a little bit today because the network fees are very low, but whenever we see the an explosion in use similar to what happened in 2017, I'm sure that you will thank Binance for not increasing its fees.

Coinbase on the other hand works with a dynamic fee that changes based on how congested the network is. Currently you enjoy very low withdrawal fees, but whenever the network gets heavily congested again, you will pay whatever the actual miner fee is to get your transaction included in the next block. Coinbase's withdrawal fees in 2017 were +0.002BTC for quite a while. People didn't like that.

I mean stop that, don't blackmail traders when prices go up at least the withdrawal fee has to go down and be reduced, there are some exchanges that still use high fees in 2017, when bitcoin prices go up and others go up so I choose altcoin which has lower fees for withdrawals If I'm not mistaken, Bittrex also asked for a high fee for withdrawing bitcoin at that time, so I used to choose DOGE to withdraw or XLM.

[milewilda]

Sup guys,

Nowadays the fees to withdraw from exchanges are getting higher and higher, 0.001-0.002 BTC per transaction which is outrageous for a day trader with small trading capital.I'm asking the most experienced of you,do you have any tricks to avoid these fees? I thought of converting the BTC to another altcoin with low withdraw fees and then use another instant changer like SimpleSwap to reconvert again,but is it really sustainable? You tell me.

I know the feels when your trying to save up more and trying to get rid of big fees as much as you can to have that bigger profit specially on smaller trading scales.
When it comes to this particular situation,I do only consider on using ETH or TRX when it comes on avoiding high exchange fees.The last one i do saw which do
had that high exchange fee is on Hitbtc.I dont know if they already change it up.

[btccashacc]

If you want to send your bitcoin from one exchange to another exchange then use Dogecoin it's extremely cheap and available in many exchanges. But if you want to send them to your main wallet I'm afraid that you can avoid the fee, maybe wallet that supports many coins such a blockchain can help, they support coins such ethereum and XLM and have swap feature so you can use them in order to get a cheaper fee, however, you may charges when swapping those coins into bitcoin since it must include a network fee. In the end, you have to make research and think of some aspects like how often do you withdraw, etc.

[CodyAlfaridzi]

I thought of converting the BTC to another altcoin with low withdraw fees and then use another instant changer like SimpleSwap to reconvert again,but is it really sustainable? You tell me.

I use that trick. Use altcoins with low withdrawal fee like Stellar (XLM), Ethereum, DOGE or something, send it to instant exchanger (I mostly use Changelly), done. I could say it's sustainable because the overall fee (exchange fee in Changelly, difference in exchange rate, etc) still smaller than direct BTC withdrawal from the exchange, usually 0.0005 or 0.001, which is outrageous. Bitcoin network fees don't go that high anymore.