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Author Topic: Coinpayments charging $9 USD per withdrawal  (Read 160 times)
normanbc
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December 06, 2017, 03:41:47 PM
 #1

I just checked the BTC price right now and saw in coinpayments the minimum fee is 0.0007 for withdraw which is around $9, at this value, if BTC price hits $100k  you'll pay like $70 per transaction...
and that sounds weird

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December 06, 2017, 04:26:08 PM
 #2

This is not surprising, there are many services that take even more,
example Bittrex, Kraken - 0.001BTC is around $13USD.

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emdes
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December 08, 2017, 03:30:09 AM
 #3

This is not surprising, there are many services that take even more,
example Bittrex, Kraken - 0.001BTC is around $13USD.

0.002BTC on C-cex  Roll Eyes
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December 08, 2017, 11:04:23 AM
 #4

I just checked the BTC price right now and saw in coinpayments the minimum fee is 0.0007 for withdraw which is around $9, at this value, if BTC price hits $100k  you'll pay like $70 per transaction...
and that sounds weird

Actually they say :

2 We currently subsidize Bitcoin withdrawals so you pay a flat TX fee of 0.00070000 instead of the full TX fee. This only applies to wallet withdrawals not Conversions/Payments/Commercial items.

And yeah, checking the estimate fee for next 6 blocks inclusion it's less what you would pay normally.

I honestly wonder how much they are spending monthly in fees internally, collecting coins and moving them around, at the moment probably it's on of their top expenses and it keeps growing.

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December 08, 2017, 11:11:50 AM
 #5

Mycelium also was set at $9 for a $100 transfer which seems crazy, you can adjust it in certain wallets or exchanges but then you would be waiting forever, I have some receiving for the past 16 hours as someone must not have liked to pay the higher fee, really frustrating.

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December 08, 2017, 01:09:47 PM
 #6

I just checked the BTC price right now and saw in coinpayments the minimum fee is 0.0007 for withdraw which is around $9, at this value, if BTC price hits $100k  you'll pay like $70 per transaction...
and that sounds weird

There was a time when I paid a $25 fee so I could transfer my bitcoins to my neteller account and the neteller to skrill charge me 1% fee and skrill my bank account to charge me more than $25 + 3% fee. This is to say that there are places where rates are much more expensive, of course I would be happier if bitcoin rates were much lower, but this is what we have now and we have to accept that


0.002BTC on C-cex  Roll Eyes

Really? this to transfer from the C-CEX account to the bank account?

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December 08, 2017, 03:28:35 PM
 #7

There are many exchange services which take around 0.001BTC in fee which was same even when bitcoin price was only around $1000. Those services are sending single payments/withdrawals in one transaction so they are taking all fee needed on that one + some fee for themselves.

Poloniex, localbitcoins are the only one that have lower fees or atleast reasonable one. Poloniex still charges only 0.0001BTC

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