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Author Topic: HIGH SERVICE CHARGE BY EXCHANGERS  (Read 244 times)
rumex (OP)
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June 21, 2017, 08:40:41 PM
 #1

Has anyone noticed the increase in service(transfer) charges as applied by the cryptocurrency exchangers(merchants) Just about 2 months ago Bittrex was charging 20000 Satoshis but today it is 100,000 Sats Approximately 400%, so many of them have just pushed their charges to the north.They are smiling to their blockchain at our sweat. I was thinking if we can take our destinies by own hand and float our own exchanger. can it be done? Was just thinking aloud !
LTU_btc
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June 21, 2017, 11:55:16 PM
 #2

Has anyone noticed the increase in service(transfer) charges as applied by the cryptocurrency exchangers(merchants) Just about 2 months ago Bittrex was charging 20000 Satoshis but today it is 100,000 Sats Approximately 400%, so many of them have just pushed their charges to the north.They are smiling to their blockchain at our sweat. I was thinking if we can take our destinies by own hand and float our own exchanger. can it be done? Was just thinking aloud !
I think everyone noticed increased fees on majority of exchanges. From major exchanges only Poloniex and Bitfinex still have low withdrawal fees, but there are no guarantees that they won't increase it:
https://bitcointalk.org/index.php?topic=1975324.msg19662028#msg19662028
People don't like these fees, but put yourself into exchange place - why they would need to send bitcoins cheaper than transaction costs. They are not charity organisation and they only want to have profit.

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June 22, 2017, 12:06:44 AM
 #3

Has anyone noticed the increase in service(transfer) charges as applied by the cryptocurrency exchangers(merchants) Just about 2 months ago Bittrex was charging 20000 Satoshis but today it is 100,000 Sats Approximately 400%, so many of them have just pushed their charges to the north.They are smiling to their blockchain at our sweat. I was thinking if we can take our destinies by own hand and float our own exchanger. can it be done? Was just thinking aloud !
I think everyone noticed increased fees on majority of exchanges. From major exchanges only Poloniex and Bitfinex still have low withdrawal fees, but there are no guarantees that they won't increase it:
https://bitcointalk.org/index.php?topic=1975324.msg19662028#msg19662028
People don't like these fees, but put yourself into exchange place - why they would need to send bitcoins cheaper than transaction costs. They are not charity organisation and they only want to have profit.
0.001 BTC is nothing close to transaction costs.  Bittrex batch loads of transactions together, and even with high fees in satoshi/byte they end up taking very little.

IMO the most fair way to charge fees would be to charge fees dynamically based on the inputs that you've added to the batch transaction - basically, your real share of the transaction costs.

Since that won't happen, just give up and use the exchange that seems the most reliable (Bittrex).

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BossMacko
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June 22, 2017, 12:10:39 AM
 #4

I noticed that too, not only in exchangers also most of the online wallet charges high amount too. I've been headache because of the recent price of transaction fee and i can't keep up my online shop because of this. Mostly likely that price we are seeing now will increase more in the future same goes for eth.
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June 23, 2017, 08:25:07 AM
 #5

I can feel the large fee that the exchangers did, so sad to know because even in my small amount transaction I have to pay the same high rate and its a bit heavy in my part example I have to send 0.001 to service rendered to me sad to say that I have to pay the transaction fee of 0.001 too Sad sad to know but that is what I am experiencing now. I hope this will going to change sooner and have low transaction fee rate like before.
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