Bitcoin Forum
October 20, 2018, 02:04:39 PM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: Why exchange wallet so high fee  (Read 253 times)
Jundax
Newbie
*
Offline Offline

Activity: 70
Merit: 0


View Profile
June 11, 2018, 12:12:17 PM
 #21

If you need a gas for a transaction, then its better to purchase a small amount of eth without touching exchange balance.
0.01 min fee is normal for such exchanges
1540044279
Hero Member
*
Offline Offline

Posts: 1540044279

View Profile Personal Message (Offline)

Ignore
1540044279
Reply with quote  #2

1540044279
Report to moderator
1540044279
Hero Member
*
Offline Offline

Posts: 1540044279

View Profile Personal Message (Offline)

Ignore
1540044279
Reply with quote  #2

1540044279
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1540044279
Hero Member
*
Offline Offline

Posts: 1540044279

View Profile Personal Message (Offline)

Ignore
1540044279
Reply with quote  #2

1540044279
Report to moderator
rosemary4u
Jr. Member
*
Online Online

Activity: 322
Merit: 1


View Profile WWW
June 11, 2018, 01:55:42 PM
 #22

Most exchanges expect high amounts in ethereum like 1 ETH upwards so the transaction fees will be so insignificant to the user when performing withdrawals so sending smaller amounts will cause you to spend more  than you  wanted to. The best thing is to convert the ethereum to other altcoins like dogecoin.

JUR Alliance   |   https://jur.io/   |   Join the Legal Revolution!
Justice as a Service Infrastructure
lama.youtu
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
June 11, 2018, 02:46:56 PM
 #23

Use Kraken don't have great fees
neo444
Full Member
***
Offline Offline

Activity: 392
Merit: 102


View Profile
June 12, 2018, 08:40:03 PM
 #24

This is one of the problem of exchange site also he force you to withdraw a high value of ethereum otherwise you can't transfer your eth to your wallet

draculaaa
Member
**
Offline Offline

Activity: 198
Merit: 12


View Profile WWW
June 25, 2018, 07:48:10 AM
 #25

The fees increase with liquidity of exchange.
Liquidity is a big issue that become critical during bearish market.

geopard
Jr. Member
*
Offline Offline

Activity: 126
Merit: 1

Staker.network - POS Smart Contract ETH Token


View Profile
June 25, 2018, 11:38:44 AM
 #26

Not all exchanges have a high fee. And still need to consider for what purpose you output. If the money can be exchanged for another coin which has low fee.For example dogecoin.

STAKER.network ] ━━ [ The Next Proof-of-Stake Smart Contract Token
] ⚁ 100% 1st Year Interest [ ━━ ] ⚀ Free Airdrops [
draculaaa
Member
**
Offline Offline

Activity: 198
Merit: 12


View Profile WWW
July 10, 2018, 06:16:29 AM
 #27

Try to trade on some dex, even if is difficult and not so fast  Cry

In these days an important project is launching its crowdsale. Actually I'm not sure to contribute because I didn't understand function of tokens released.
In any case the project is a completely dex exchange that support cross chain through plasma.
Take a look to altcoin.io

Dudeperfect
Hero Member
*****
Offline Offline

Activity: 994
Merit: 531

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile WWW
July 10, 2018, 07:50:16 AM
 #28

It is true that some exchanges will have a uniform fee irrespective of the current transaction volume, in such cases, you can convert your coin in altcoin having less withdrawal fee, I have observed that this trick works sometimes. However, make sure that you are considering the final cost of converting the funds to the original coin too. Generally, exchanges charge their fees along with the transaction fee and hence the withdrawal fee is comparatively higher as compared to that of normal wallet to wallet transaction.

cryptowisser
Newbie
*
Offline Offline

Activity: 158
Merit: 0


View Profile
July 10, 2018, 11:26:00 AM
 #29

Hello guys,I tried to withdraw ethereum from poloniex and BTC alpha..soo high fee's I withdraw 0.02 ethereum and  fee's is min.0.01 ethereum? So no choice I withdraw even the high fee almost 50% from may balance. I need gas to send more tokens ..but still confused why so high it is normal or due to blockchain congested that's why?
Hi Dhanems,

Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. I understand your concern. In order to help people experiencing the same issues as you, we have created an EXCHANGE LIST where you can compare withdrawal fees. It is available here: https://www.cryptowisser.com/exchanges/. As you will see when sorting in the list based on the withdrawal fee, there are even exchanges charging percentages of the withdrawn amount as their withdrawal fees. The highest "fixed fee" not being a percentage is charged by CoinsBank who charge a ridiculous 0.005 BTC when withdrawing BTC (regardless of how small the BTC-amount you are withdrawing is).

We have also created a revolutionary tool we call THE EXCHANGE FINDER that lets you answer 6 questions on what you require from a cryptocurrency exchange. The tool then matches you with the exchange(s) that best matches your answers, free of charge. There is no corresponding tool anywhere else in the crypto market. The tool can be found here: https://www.cryptowisser.com/

Stay safe out there and look out for the bad guys!

All the best,
Cryptowisser
cryptowisser
Newbie
*
Offline Offline

Activity: 158
Merit: 0


View Profile
July 10, 2018, 11:28:42 AM
 #30

Exchanges have made the withdrawal fees a nice way to extort users. Ethereum transaction hardly need more than 40 cents to confirm in few blocks and they charge up to $10 for its withdrawal. If you are going to earn through withdrawal fees than do away with your exchange trading fees.

Um, exchanges don't get any of the fees. They go to the miners. And it's not as if you can arrange kickbacks when you have no idea who'll mine it.

Like I said, it's to keep their users from whining about stuck transactions. Whether more of them whine about high fees is an unknown. I think it's probably going to be less.
Hi gentlemand,

This is not entirely true. Many exchanges do have withdrawal fees that only cover the network fees (I'll give you that), but most of them skim a little off the top. Have a look at our Cryptocurrency Exchange List where we have compiled data for more exchanges than any other site in the world. There you can sort on withdrawal fees if you like and see that there are even a handful of exchanges that take a percentage of the withdrawn amount as their withdrawal fees. List available here (pre-set so that you have the highest withdrawal fees at the top): https://www.cryptowisser.com/exchanges/?sort=exchange_transaction_withdrawal_fee&order=desc

All the best,
Cryptowisser
cryptowisser
Newbie
*
Offline Offline

Activity: 158
Merit: 0


View Profile
July 10, 2018, 11:30:20 AM
 #31

Use Kraken don't have great fees

Kraken's fees are competitive, but they are not in any way the lowest. Have a look here to see how Kraken compares to 250+ other cryptocurrency exchanges: https://www.cryptowisser.com/exchanges/

All the best,
Cryptowisser
cryptowisser
Newbie
*
Offline Offline

Activity: 158
Merit: 0


View Profile
July 10, 2018, 11:31:53 AM
 #32

Yeah that’s quite the standard, you should check in advance how much it cost to withdraw your cryptos

before registering to a specific exchange, coz you can find better prices!

also remember if you need to move crypto for trading between exchanges you can do it with NEO, since it’s sometimes free (on Binance for example) to move along with GAS!

I FULLY AGREE with goldexp83. VERY important to check both trading fees and withdrawal fees in advance (many forget the withdrawal fees). We have developed a list just for that purpose here:
https://www.cryptowisser.com/exchanges/

All the best,
Cryptowisser
btc-deltacoin
Member
**
Offline Offline

Activity: 174
Merit: 11

ABLE: The New Era of Crypto Finance


View Profile
July 16, 2018, 04:46:26 AM
 #33

Hello guys,I tried to withdraw ethereum from poloniex and BTC alpha..soo high fee's I withdraw 0.02 ethereum and  fee's is min.0.01 ethereum? So no choice I withdraw even the high fee almost 50% from may balance. I need gas to send more tokens ..but still confused why so high it is normal or due to blockchain congested that's why?
Exchanges are interested in keeping your money on the balance & your trading activity (getting fees). So withdrawal  is not seems to be a desired procedure for exchange.

a b l e     / ♦️ \     New Era of Crypto Finance
                                                                  [   J  O  I  N    N  O  W   ]                                                                 
daviost
Jr. Member
*
Offline Offline

Activity: 154
Merit: 2


View Profile WWW
July 16, 2018, 09:12:51 AM
 #34

You can try to convert it to xlm (stellar) or doge coin or xrp (Ripple) or NEM or other coin.
because it's cheap when you want to withdraw it to others. the fee is below 1$ right now.

and the last suggestion for you is you can try to use big exchanger like binance or other big exchangers.
cause their fee is competitive.

but if you use exchanger like hitbtc, you must pay a high fee withdrawal. so do your research first before invest in some exchanger.

G luck




▬▬▬▬▬ ◯●●   REPME.io   ●●◯ ▬▬▬▬▬
The new WEBSITE will be LAUNCHED on the 1st NOV
Please check the Whitepaper for more complete info
arodrigues
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
July 16, 2018, 06:38:06 PM
 #35

It's really high
nitrocryptonitro
Jr. Member
*
Offline Offline

Activity: 74
Merit: 1


View Profile
July 30, 2018, 02:59:41 PM
 #36

Exchanges are notorious for their high withdrawal fees concerning the most well-known crypto-currencies.
And why is it like that?
Just because they want those well-known liquidities to keep flowing in their markets. That's all.
And when BTC price was close to 20'000 $ last December, sometimes you had to pay between 20 and 40 $ for withdrawing BTC, no matter the amount you were withdrawing.
A small trick is to use LTC for your withdrawal between exchanges.
If you want to send BTC from Exchange A to exchange B, you just buy LTC with your BTC on Exchange A, you send your LTC to Exchange B, and then you buy back your BTC with LTC on Exchange B.
It will save you lots of money !  Wink

Now, if your intention is to withdraw BTC, or ETH, or whatever well-known crypto-currencies to your personal wallet, you're screwed: you will have to pay those crazy fees !

★ PRiVCY ➢ Own Your Privacy! ➢ Best privacy crypto-market! ★
✈✈✈[PoW/PoS]✅[Tor]✅[Airdrop]✈✈✈ (https://privcy.io/)
Goodvalony
Newbie
*
Offline Offline

Activity: 41
Merit: 0


View Profile
September 08, 2018, 11:07:36 AM
 #37

Common i feel like leaving crypto due to this high fees. i think  i have lost over 30% of my total earning due to fees, both from exchange,mining wallets and other transactions.
 but we must make the money.
squatter
Hero Member
*****
Offline Offline

Activity: 924
Merit: 614


STOP SNITCHIN'


View Profile
September 09, 2018, 07:28:25 AM
 #38

Common i feel like leaving crypto due to this high fees. i think  i have lost over 30% of my total earning due to fees, both from exchange,mining wallets and other transactions.

What are you using for your wallet? A lot of people make the mistake of using an exchange as a wallet. That usually means very high fees on every withdrawal. Or they use a wallet with horrible fee estimation, like Copay.

A good way to lower your Bitcoin fees is to do the following: Use a wallet with good fee estimation, like Bitcoin Core or Electrum. From time to time, consolidate your inputs with a low-fee (~1 satoshi/byte) transaction -- combine all inputs into one address, because it's cheaper to spend from one input. If you don't need urgent confirmation, then don't spend high fees. When you need quick confirmation, use this tool to estimate the fees required to get in the next one or two blocks.

7jaka7
Sr. Member
****
Offline Offline

Activity: 476
Merit: 257

BTC, ETH, XMR, LTC


View Profile WWW
September 09, 2018, 10:47:08 AM
 #39

Hello guys,I tried to withdraw ethereum from poloniex and BTC alpha..soo high fee's I withdraw 0.02 ethereum and  fee's is min.0.01 ethereum? So no choice I withdraw even the high fee almost 50% from may balance. I need gas to send more tokens ..but still confused why so high it is normal or due to blockchain congested that's why?
Hi Dhanems,

Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. I understand your concern. In order to help people experiencing the same issues as you, we have created an EXCHANGE LIST where you can compare withdrawal fees. It is available here: https://www.cryptowisser.com/exchanges/. As you will see when sorting in the list based on the withdrawal fee, there are even exchanges charging percentages of the withdrawn amount as their withdrawal fees. The highest "fixed fee" not being a percentage is charged by CoinsBank who charge a ridiculous 0.005 BTC when withdrawing BTC (regardless of how small the BTC-amount you are withdrawing is).

We have also created a revolutionary tool we call THE EXCHANGE FINDER that lets you answer 6 questions on what you require from a cryptocurrency exchange. The tool then matches you with the exchange(s) that best matches your answers, free of charge. There is no corresponding tool anywhere else in the crypto market. The tool can be found here: https://www.cryptowisser.com/

Stay safe out there and look out for the bad guys!

All the best,
Cryptowisser
Very nice website. I like that question part at the beginning which filters out totally unappropriate exchanges.
Do you happen to have any announcement thread here on Bitcointalk to track your progress?

SECURE YOUR CRYPTO ASSETS | GET SOME FREE SATOSHI'S | TRADE ON BINANCE  Disclaimer: All links are affiliate/refferal! Thank you for using them! Smiley
Athero
Copper Member
Jr. Member
*
Offline Offline

Activity: 46
Merit: 2


View Profile
September 09, 2018, 02:10:25 PM
 #40

Hello guys,I tried to withdraw ethereum from poloniex and BTC alpha..soo high fee's I withdraw 0.02 ethereum and  fee's is min.0.01 ethereum? So no choice I withdraw even the high fee almost 50% from may balance. I need gas to send more tokens ..but still confused why so high it is normal or due to blockchain congested that's why?
0.02 ether is a quiet high fee. If you are on Poloniex, try to buy LTC for transfers.... is is fast and fees are much smaller.
Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!