exchanges withdrawal fees are getting insanely high!

[Morbid]

been running through binance & cryptopia picking up few undervalued altcoins.. but when trying to withdraw into wallet i get $10-20 fees on most coins/tokens. in cryptopia im charged 12PBL to withdraw 50PBL - $1.8 each. in binance they want 10ZRX to withdraw 50ZRX - $1.1 each. & these are just some examples across most coins/tokens! dont like to rant much but its absolutely insane! i get it with BTC its costly, but ETH based tokens are about $1 transaction, never mind non-ETH assets.

[player514]

been running through binance & cryptopia picking up few undervalued altcoins.. but when trying to withdraw into wallet i get $10-20 fees on most coins/tokens. in cryptopia im charged 12PBL to withdraw 50PBL - $1.8 each. in binance they want 10ZRX to withdraw 50ZRX - $1.1 each. & these are just some examples across most coins/tokens! dont like to rant much but its absolutely insane! i get it with BTC its costly, but ETH based tokens are about $1 transaction, never mind non-ETH assets.

Exchanges have been going pretty wild with withdrawals. There are cases of certain exchanges just completely ghosting people's accounts, acting like they didn't exist and never responding to customer support tickets. They've been extremely fishy, especially the big ones. I'm not surprised that the fees are starting to get bad. If anything, they'll continue to get worse. I'm not sure what course of action people can take against this, but maybe you should swap over to a different exchange site to get by these fees.

[Arwinkim]

when the value of bitcoin and even other alt coins are going up, then the fee would follows. as far as I know, binance offer cheaper fee if you have BNB. bigger capital means bigger fee. exchange usually have always fixed fee and fee in percentage for every transaction

[entrepmind23]

been running through binance & cryptopia picking up few undervalued altcoins.. but when trying to withdraw into wallet i get $10-20 fees on most coins/tokens. in cryptopia im charged 12PBL to withdraw 50PBL - $1.8 each. in binance they want 10ZRX to withdraw 50ZRX - $1.1 each. & these are just some examples across most coins/tokens! dont like to rant much but its absolutely insane! i get it with BTC its costly, but ETH based tokens are about $1 transaction, never mind non-ETH assets.

This is just disappointing because it is just getting expensive as time goes by. Why make it expensive anyway? They can earn enough because they are getting insane volumes right now in their sites. It is time for decentralized exchanges to make their way in the scene because this kind of fees is just ridiculously high. In order for you not to mind the fees that much, you have to withdraw large amount. It is happening already in bitcoin but they are charging higher fees in altcoins too which I believe other exchanges would follow too in the future.

[Nariza]

Exchanges have been going to increase the transaction fee. They want to earn more but this changes is disappointed for us because it is expensive. Some exchanges will be follow to increase in the future. I hope it will go back to previous fee.

[seizetehday5]

But I don't see why they should nor have to do this. There are more people entering crypto all the time which means tons of demand everyday and it is only increasing. Why now the need to increase prices if anything you should keep them the same and make more money. Increasing the pricing is only going to demand that much of a better service which as we have seen has gone in the opposite direction. Completely messed up business move!

[Morbid]

kucoin fees are cheap at the moment but its probably because they are newish.. seems like once they get big greed kicks in. 0X (ZRX) are working towards creating decentralised platform to exchange ETH tokens within blockchain avoiding exchanges. perhaps centralised exchanges are aware that their days are numbered & ripping off as much as they can while its possible. i also believe that this altcoin boom might not last much longer as BTC is getting rapidly undervalued. will see..

[all_inman]

well...why do u need often withdrawals?? If u are trader no, if u are holder also no. So it should not be a problem for u if u are withdrawing several times in a week

[BitHodler]

well...why do u need often withdrawals?? If u are trader no, if u are holder also no. So it should not be a problem for u if u are withdrawing several times in a week

People like to be active with their occasional buys and sells, where they also like to have some sort of comfort and security knowing that if they withdraw their coins, the exchange in question can't do any harm to them anymore.

If you think that leaving coins unnecessarily long in your exchange account is the best thing to do, you probably aren't able to calculate the risk of having an exchange get hacked and whatnot.

I always withdrew my crypto coins from exchanges once I was done trading, but I left my fiat always there. Turns out, the fiat I had there was lost once BTC-E was taken down by the US authorities, which is a wise lesson.

[Morbid]

haha as the username "all in man" suggests the newcomers have not been shafted yet during this cycle. its a sign of a healthy downturn to come.. too many naive people about in this space.

[qiman]

The exchange that has the worst trading withdrawal fees at the current time is HITBTC. Every time we try to withdraw from there, especially erc20 tokens they charge anything between 50-150 dollars a withdrawal, so unless you have a large amount it is better to convert to something like doge coin then buy the coins you want on other exchanges to extract and place in your wallets. We used to trade PPT token there but now every time you need to pay three PPT which is 120 usd at today's price, we stopped trading it there.

[Morbid]

The exchange that has the worst trading withdrawal fees at the current time is HITBTC. Every time we try to withdraw from there, especially erc20 tokens they charge anything between 50-150 dollars a withdrawal, so unless you have a large amount it is better to convert to something like doge coin then buy the coins you want on other exchanges to extract and place in your wallets. We used to trade PPT token there but now every time you need to pay three PPT which is 120 usd at today's price, we stopped trading it there.

that is absolutely mad. totally unsustainable.

[FrueGreads]

Well I think it's better to pay higher fees and still get the withdraw on time, than to pay no fees, or small ones, and have to wait 12h plus in order to get your coins out. I heard some users are getting their transactions rejected by the network because they are taking to long due to the low fees. Poloniex is still being able to keep low fees and fast transactions though. I don't know how they are doing it, but right now they deserve my "respect" for that.

[ReLieD]

been running through binance & cryptopia picking up few undervalued altcoins.. but when trying to withdraw into wallet i get $10-20 fees on most coins/tokens. in cryptopia im charged 12PBL to withdraw 50PBL - $1.8 each. in binance they want 10ZRX to withdraw 50ZRX - $1.1 each. & these are just some examples across most coins/tokens! dont like to rant much but its absolutely insane! i get it with BTC its costly, but ETH based tokens are about $1 transaction, never mind non-ETH assets.

This is the time when people will buy more and more altcoins as they know how people are profiting with those. So why would the exchange site lose this opportunity. They will take as much fees as possible and they know that people will surely pay them . This is where business comes into play.

[jhenfelipe]

That's one of the problem these days, fees cost too much. However, what's worst is that sometimes after deducting such high fees there will still be a problem with the withdrawal and you got no response from support.   Converting in a different coin costs time and effort as well, a bit hassle, but despite that, some traders do it to pay lesser fee.

[jackhdt]

been running through binance & cryptopia picking up few undervalued altcoins.. but when trying to withdraw into wallet i get $10-20 fees on most coins/tokens. in cryptopia im charged 12PBL to withdraw 50PBL - $1.8 each. in binance they want 10ZRX to withdraw 50ZRX - $1.1 each. & these are just some examples across most coins/tokens! dont like to rant much but its absolutely insane! i get it with BTC its costly, but ETH based tokens are about $1 transaction, never mind non-ETH assets.

these are disadvantages that traders are suffering. exchanges are where they created for us to purchase and we can only wise in choosing. I put safety first and largest exchanges choose to accept higher costs. The only way is to believe the exchanges and HODL coin/token. restricting withdrawal coins / tokens from the exchange. I've exchanged bitcoin-> doge and withdraw doge and sell it. costs are reduced quite significantly as btc transaction fee on crytopia  is 0.0022

[Faruque312]

yes this is expencive , i think is is too much fee. If you are a regulare traders then this is really bad for you, i think you should hold and after long time you can withdraw your money then you can take it easily.

[satria33]

when the value of bitcoin and even other alt coins are going up, then the fee would follows. as far as I know, binance offer cheaper fee if you have BNB. bigger capital means bigger fee. exchange usually have always fixed fee and fee in percentage for every transaction

What about Liqui, for withdraw bitcoin alone is charged a fee of 0.002btc can you compare more expensive where binance or liqui

[achsan fauzy]

Since the beginning of January, 2018, fee withdrawal increasingly expensive. I think it happens because the price of the coin (especially bitcoin) who continue to experience increased.

[kawser05]

yes this high.. but only for increasing btc and eth value,,, so you have to pay this if u wanna trade