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Author Topic: YoBit withdraw high fee  (Read 251 times)
BookeyBitMan
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January 16, 2018, 12:51:28 PM
 #21

Thanks for the suggestions, but you did not understand me about DOGE market.
On YoBit site you have 6 market (BTC, ETH, DOGE, WAVES, USD, RUR),
and when I say market I think about buying and selling:
exemple
I buy with DOGE 200,000 RDD and I sell 200,000 RDD for DOGE (on DOGE market)
Bittrex, Bluetrade, Poloniex, Gate, Cryptopia, they do not have DOGE market (checked).
Cryptopia have but "Market is closed".

I withdraw 100 DOGE (+100 DOGE fee) for testing on YoBit, DOGE arrive on my wallet for 10minutes, (it's fast),
for a regular transaction it's needed around 30minutes.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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alyssa85
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January 16, 2018, 02:56:28 PM
 #22

Undecided
I love DOGE because of low fee (1-2 DOGE), but 100 DOGE for fee it is to high.
When I send DOGE on YoBit I pay only 1.90 DOGE for fee...
That was too high, this what happens when there's a big demand to a coin that people are using. And as far as I know, there are too many bitcoin traders that are converting their btc's to DOGE for lesser transaction fee and withdrawals but what's happening now with yobit is expected. Don't use them anymore and if you can avail to pay that 100 DOGE for withdrawal take it already.

Edit: I tried to check it out, it only says 0.002 LTC for withdrawal fee and the same goes with other altcoins except BTC.

That's probably what happened - people stopped withdrawing bitcoin (because Yobit's btc withdrawal fee was sky-high, higher than most other exchanges) and switched to Doge. They've probably had a run on their doge wallet so have raised the fee to discourage people. I guess folks will use another alt to move money.

wriizo
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January 16, 2018, 02:59:59 PM
 #23

HitBtc has more crazier fees.
They want $13 for a ETH withdrawal, like what??

Crazy.
bonipper
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January 16, 2018, 07:14:35 PM
 #24

Thanks for the suggestions, but you did not understand me about DOGE market.
On YoBit site you have 6 market (BTC, ETH, DOGE, WAVES, USD, RUR),
and when I say market I think about buying and selling:
exemple
I buy with DOGE 200,000 RDD and I sell 200,000 RDD for DOGE (on DOGE market)
Bittrex, Bluetrade, Poloniex, Gate, Cryptopia, they do not have DOGE market (checked).
Cryptopia have but "Market is closed".



Click the doge link (shown by the red arrow) at the top right of the bleutrade home page.




Afterwards you should see doge markets including Htmlcoin, Mooncoin, Reddcoin, FujiCoin, Potcoin, Unobtanium, SolarCoin.
bonipper
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January 16, 2018, 07:20:50 PM
 #25

Undecided
I love DOGE because of low fee (1-2 DOGE), but 100 DOGE for fee it is to high.
When I send DOGE on YoBit I pay only 1.90 DOGE for fee...
That was too high, this what happens when there's a big demand to a coin that people are using. And as far as I know, there are too many bitcoin traders that are converting their btc's to DOGE for lesser transaction fee and withdrawals but what's happening now with yobit is expected. Don't use them anymore and if you can avail to pay that 100 DOGE for withdrawal take it already.

Edit: I tried to check it out, it only says 0.002 LTC for withdrawal fee and the same goes with other altcoins except BTC.

That's probably what happened - people stopped withdrawing bitcoin (because Yobit's btc withdrawal fee was sky-high, higher than most other exchanges) and switched to Doge. They've probably had a run on their doge wallet so have raised the fee to discourage people. I guess folks will use another alt to move money.

Bter did something similar before it closed. It started forcing people who wanted to withdraw bitcoin to give it scans of their passports. However you could withdraw in any alt except doge without providing scans. There was a lot of speculation about why doge was the only alt you had to do KYC to withdraw. Maybe it had a run on its doge wallet too.
carlfebz2
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January 16, 2018, 09:21:35 PM
 #26

Yobit is one of those sites that has the weirdest wallets in my opinion. most of the altcoins there are in maintenance for eternity! and the rest that aren't may not have any payable balance, so when you make a withdrawal it may get stuck for over a week.

as for fees, Doge fees are nothing. check out BCC(bitcoin cash) fees. it is 0.01 BCC which is $27!
Not only the weirdest but the most pissing out exchange over there. Once you got stucked on some wallet issues either pending or didn't go through deposits then be ready for an eternity waiting times and contacting their support is pointless because they wont really answer you for sure.Having their wallet on maintenance they don't even give a proper announcement regarding on it. Talking about fees $1+ isn't really that too high though.

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CyberKuro
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January 16, 2018, 10:52:33 PM
 #27

Withdrawal fee for an exchange is always higher than required fee, to ensure your transaction will be confirmed and they will take the rest of it, that's why it's called fee Cheesy
it is not only Yobit obviously, most exchanges have set withdrawal fee higher, but $1 or $0.5 isn't expensive at all, depends on how much Doge do you have?
There are many exchanges around, why do you choose Yobit? there is some problem regarding their services and too many people complaints about it.
Alns
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January 16, 2018, 11:14:56 PM
 #28

YoBit is going to get shutdown soon, so if you are holding money in there, then the best thing that you can do is just withdrawing all your funds out of there.

No one knows what is really going to happen, but they have a lot of troubles with their withdrawals and with their deposits, a lot of money is already lost in there.

Just to avoid all this potential issues, move to another exchange.

greeklogos
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January 16, 2018, 11:22:48 PM
 #29

For Btc withdrawing it is 0,001 at all! Just crazy! I am a micro earner and tiles like half of my weekly earnings. I am using YoBit for my trading manipulations and for now the amount I have made is little, but when it will worth something serious I wish to hold it in a more safe place. Thinking now to start to use another exchanger. Recommendations?

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January 16, 2018, 11:23:54 PM
 #30

They use fixed fee rates. If you want to withdraw $1 or $100 in DOGEs or any other currency, doesn't matter, the fee will be the same...

potpockets
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January 16, 2018, 11:37:02 PM
 #31

In the case of yobit fees, it is necessary for several customers to make an order or boycott in their services so that it can work with more realistic rates.

Lassie
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January 17, 2018, 01:19:05 AM
 #32

Undecided
I love DOGE because of low fee (1-2 DOGE), but 100 DOGE for fee it is to high.
When I send DOGE on YoBit I pay only 1.90 DOGE for fee...

I read in many sites about yobit, some say they will turn to scam soon. with this new change on their withdrawal fee where they are asking so very large amount specially in coins that supposed to have very cheap transaction fee, they are asking for large amount as fee. a big NO NO for me

magicwand2
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January 18, 2018, 07:25:23 AM
 #33

use another coin to tranfers my friend
timerland
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January 18, 2018, 09:12:38 AM
 #34

I tried to withdraw some DOGE on YoBit but when I saw withdraw fee (100 DOGE/1.19$) I gave up.
I trying with LTC and withdraw fee is 0.002 LTC/0.52$, can anyone tell me why is too high fee for DOGE?

Nope. They really have no reason to charge you 100 DOGE for your withdrawal, when I've sent doge transactions recently on the doge blockchain with absolutely 0 fees that have confirmed within the hour that i've sent it.

The max anyone is going to pay for an onchain transaction on the dogecoin network is around 5 DOGE, but 1 DOGE is enough. Other exchanges do not charge more than 2 doge as far as i remember.

It's just a case of greed in my opinion. They're ripping people off, making them think that 100 DOGE is going to their transaction, but in fact only 5% or less is and they're stuffing their own pockets with the rest.

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January 18, 2018, 03:45:07 PM
 #35

100Doge for withdrawal fee obviously high and I think you should considering to trade on another exchange. As I know dogecoin is crypto currencies which never have problem about their network so Yobit just want to get profit from withdrawal fee.

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January 19, 2018, 01:43:30 AM
 #36

100Doge for withdrawal fee obviously high and I think you should considering to trade on another exchange. As I know dogecoin is crypto currencies which never have problem about their network so Yobit just want to get profit from withdrawal fee.
While in nerwork terms a 100 doge fee is too high, that I can agree on, it's Yobit's rightful choice to set certain withdrawal fees they are comfortable with. It's definitely profit minded, but not the main reason.

I think the main reason for this is to prevent people from draining their doge reserves. People find Bitcoin too expensive to cash out, so they convert to doge to have that cashed out.

It's not an optimal solution per se, but it will give people less incentive to do so. From that perspective I can understand why they have done it. In some cases you just have to think further to find out what's going on.

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January 19, 2018, 09:36:18 AM
 #37

I tried to withdraw some DOGE on YoBit but when I saw withdraw fee (100 DOGE/1.19$) I gave up.
I trying with LTC and withdraw fee is 0.002 LTC/0.52$, can anyone tell me why is too high fee for DOGE?

Still quite low compared to bitcoin, poloniex currently charges 0.0005 BTC for bitcoin withdrawals and bittrex 0.001 BTC, some other exchanges even more. That would convert to around $12 at the moment. 100 DOGE is nothing compared to that.

But compared to the actual doge transaction fees it's high as hell. But i guess they want to make the fiat withdrawal fees as close together as possible between different coins, or just want to make a small buck or two from doge transactions.

Nothing you can do about it, apart from issuing yobicodes which won't actually send your coins but rather transfer it to another yobit account that redeems it. If you really want to trade on the doge markets, then you'll have to bear with the fees.

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