Transfer BTC from Bittrex to Coinbase

[MikePCarr]

I have been holding bitcoin for about  6 months in Bittrex and never had a need to "move it". Recently I wanted to transfer 0.5 BTC from Bittrex to coinbase and got quoted huge transaction fee. When I dropped the value to 0.25BTC it went to $3+. Can someone explain why the high cost of transaction fee?

[Temik2704]

It`s rather strange because there should be no difference in fees if you send 0.1 BTC either 1000 BTC. It`s must be an equal.

[poletando]

the fee is for miner fee, you can check it on google what is miner fee, but i will explain in a short sentences, if you send with high fee its mean that you will get high priority its mean that you will get your bitcoin faster than if you set the fee is low

[EXtremeAEX]

Welcome to the transactionfeenightmare squad. Yes, $3 now is common for a transaction fee, and the reason for it being so high is because of the large amount of transactions going on every second, hence, your transaction needs to 'fight' its way in to be verified on the next block, and to do so, you pay the high fee, which provides the incentive for the miner to complete your transaction.

Hence this makes dust transactions (transactions less than 10 USD) completely wasteful and useless as the fees takes up a large amount of your txid, so you lose much more. Send your Bitcoin in large amount to avoid losing so much comparatively, or switch to ETH for way lower fees.

[Nathan047]

I have been holding bitcoin for about  6 months in Bittrex and never had a need to "move it". Recently I wanted to transfer 0.5 BTC from Bittrex to coinbase and got quoted huge transaction fee. When I dropped the value to 0.25BTC it went to $3+. Can someone explain why the high cost of transaction fee?

The change in fee is odd, although it must be something on Bittrex’s side since a Bitcoin Transaction fee shouldn’t change with a different amount of Bitcoin in it.

In the future you can always buy LTC and then send that to coinbase (or any exchange that accepts it) and then buy back BTC. Often it’s cheaper to pay the LTC transaction fee + the exchage fees then it is to pay for the BTC transaction fees.

[LTU_btc]

That's very strange. As I renember, Bittrex have 0.001 BTC withdrawal fee, and there is no matter, how much you withdraw - 100 BTC or 0.05 BTC, fee should remain same. Can you say, how much is that "huge fee"? Maybe try to ask support about that fee. From my experience, their support is helpful and fast responding. And as user above said, if you need to transfer coins to Coinbase, you can convert it in Litecoins to avoid high fees. When you Litecoins will arrive to Coinbase, exchange it back to Bitcoins.

[kahc]

As others have mentioned, it is indeed weird. I always get quoted 0.001 BTC no matter the amount.
Convert to either LTC or ETH(withdrawal fee 0.01LTC/0.002ETH) before you send to coinbase.