High fees on some exchange!

[o_e_l_e_o]

You might be able to save yourself some money buy trading the coin you are interested in on a different exchange. I would recommend having a look here: https://coinbuddy.co/coins

For each coin, it gives a nice breakdown of where to buy, price, volume, trading pairs, maker fee, taker fee, and withdrawal fee.

Also consider that sometimes it's the coin's fault, not the exchange's. If you look at coins like Stellar or Nano that are essentially free to transact, exchange fees are equally low - the equivalent of a fraction of a cent. If you are trading some trashcoin that has high fees for any transaction, then the exchanges have no choice but to put their fees up - they can't take a significant loss on every withdrawal.

[Karisma Black]

There are too many exchanges that list shitcoins.
They think they can do whatever they want regarding fees because they're the only ones listing those coins.
Not much you can do about it except to wait until a better exchange lists your coin.

[AlanMilano]

Except for the fee for BTC and ETH, I see with altcoin most of the exchanges do not have too high fees. That is normal.
Also if you try to trade altcoin with a volume under 0.005 BTC then that is not much profit in return for the fee.

[carlisle1]

Altcoin nowadays are listed on some exchange which has high fees.  I tried to trade to increase my portfolio despite of this situation but still useless because of the amount of fee is when it comes withdrawal.!

 Is this normal because of the current situation of market?  Or a normal amount of  fee especially if the exchange is not yet popular?

Thats your choice on where to buy and what to buy.if you dont have big amount of capital then better buy for a coins that is listed in low required fees,this is our own call dude and no one can do for you

You can use some exchange that is not popular but brining goodprofit for their subscribers.its just you need to make research for all of this

[Red-Apple]

since there is no regulation and also since there is little competition in some cases of exchanges, that means they can do whatever they want and charge whatever high fees they want. additionally there are a lot of other negative aspects to this which makes the whole exchange platforms bad such as the lack of security and lack of support.
it is normal and we can't do anything about it. take a look at decentralized exchanges, we need to eventually move away from these bad centralized ones.

[Bittalk12]

One of the top priorities when choosing an exchange is to check their trading and withdrawal fees. By the way, what type of exchange are you using? If that will be a decentralized exchange, withdrawal and trading fees depends on the blockchain traffics but for centralized exchange, they only collects low fees and already have a set fees posted on the FAQ page. LTC and DOGE are the best picks when processing a withdrawal because they only collects low withdrawal fee and fast transaction going to your wallet.

[CryptoBry]

This is actually ironic that many exchanges are charging their customers high fees when in fact the market is flooded with new cryptocurrency exchanges and more are in the drawing boards right now. I am sure this is just a clear case of exploiting the market especially the sellers of the altcoins who can be desperate to unload their hold even if the fees can be high. These exchanges are maximizing their own existence maybe as soon we don't know which of these many exchanges will eventually survive so they might as well strike when the iron is still hot.

[CrazeCoinz]

After increasing the exchange fee for BINANCE, I am looking for an alternative exchange.

It is difficult to find a stock exchange with the same security and cheap withdrawal fee.

Those exchanges are milking us being a traders as they can increase their fees without further notice. This is the reason why we have many exchanges as this business is profitable. I just hope that they are fair to us being their costumers.

[Lpim01]

After increasing the exchange fee for BINANCE, I am looking for an alternative exchange.

It is difficult to find a stock exchange with the same security and cheap withdrawal fee.

Those exchanges are milking us being a traders as they can increase their fees without further notice. This is the reason why we have many exchanges as this business is profitable. I just hope that they are fair to us being their costumers.

There is also reason why some exchanges doing that. As I've heard, due to huge traffic in blockchain confirmation they might increase their fees in order to fasten the transaction and delays will be minimize. But it is sad that, the community misunderstood such things especially for the traders cause it will affect also their gains.

[Cacingkemi]

I have never withdraw with a large fee at alt,usually like to exchange one alt that has a low fee and I apply it when withdraw.If the fee in the trade is good enough imo and tether the profit which is further from the fee then I don't think that is a problem.

[babykika2027]

One of the top priorities when choosing an exchange is to check their trading and withdrawal fees. By the way, what type of exchange are you using? If that will be a decentralized exchange, withdrawal and trading fees depends on the blockchain traffics but for centralized exchange, they only collects low fees and already have a set fees posted on the FAQ page. LTC and DOGE are the best picks when processing a withdrawal because they only collects low withdrawal fee and fast transaction going to your wallet.

I did this method, converting to several coins that used a low fee when withdrawing, in my opinion it was enough to reduce costs, as Dogecoin had a very low fee

[bartolo]

Yeah i have also experienced this especially hitbtc and a few others charge very high amount of coins as a withdrawal fee which is not right, sometimes we do not have any option because the intended coin or token is only available at a specific exchange, i think we should discourage such exchanges by not using them so that they realize that they are charging very high fee and then start charging less fee.

The case of HitBTC is curious since this exchange also charges deposit fees which seems totally ridiculous to me. Withdrawal fees rose sharply last year when bitcoin fees went up. Now it happens that the bitcoin fees are very low, you can move bitcoin almost free, but the exchanges have not lowered their fees. Besides, they put several withdrawals in a single transaction, with which they earn even more money.

[jrrsparkles]

Altcoin nowadays are listed on some exchange which has high fees.  I tried to trade to increase my portfolio despite of this situation but still useless because of the amount of fee is when it comes withdrawal.!

 Is this normal because of the current situation of market?  Or a normal amount of  fee especially if the exchange is not yet popular?

If you want to be short term trader and only have small capital for trading then you should choose the trading pairs which available on the exchanges where the fees is much lower but normally most of the exchanges have higher fees even the network has no traffinc because they have fixed these feees structure because if the centralized exchanges.

[Quidat]

Altcoin nowadays are listed on some exchange which has high fees.  I tried to trade to increase my portfolio despite of this situation but still useless because of the amount of fee is when it comes withdrawal.!

 Is this normal because of the current situation of market?  Or a normal amount of  fee especially if the exchange is not yet popular?

Trading fees don't tend to be more than 0.25% with a lot now at 0.1% or less. As for withdrawal fees they're normally a fixed amount and for some coins on some exchanges are ridiculously high when considering usd amount. It also largely depends on how much capital you are trading with given the fees are fixed, if you're trading with a small amount then the fees will hit you too hard to be able to profit.

I agree with you and i think OP was not trading i think he's doing withdrawal of his coins bit by bit which is more pain in the pocket because of their fixed fees. I would suggest that when done in trading withdraw them all at once to save more bucks than trading it bit by bit which is consuming too much of your money.

[KyberJaxx]

You can not display your own Altcoins now and wait until the price increases several times, then sell them. I would do that

[miyaka26]

Yeah, the fees on some exchanges are indeed horrendous . You cannot use too little amounts of money for trading for exactly this reason, the fees will eat away your small profit pretty quickly without you even noticing.

Gotta be careful.

This has been a problem from some tokens, I don't know what is the advantages from the devs perspective of a project to enlist their tokens from an exchange that impose High fees regardless of their tokens and their volume, the end point is that you should do some research not just on the projects but to the exchange that they are currently listed, there are some faulty exchanges from my experience so be diligent to deal specifically if you are planning to invest large capital, you can also determine by their reputation.

[izanagi narukami]

Luckily my local forum did not charge or change their transaction fee over 4 years.
I'm pretty sure that every country have their local exchange,right ?

Usually higher cost of fee because it's international exchange so maybe they need to adjust their cost operation world wide !

[lolxxxx]

Those kind of exchanges are just greedy and they raise the fee so they can get money from the user.

I advise that you stop using that kind of exchange you will lose a lot of money in fee try to use some other exchange sites.

[maarx]

Altcoin nowadays are listed on some exchange which has high fees.  I tried to trade to increase my portfolio despite of this situation but still useless because of the amount of fee is when it comes withdrawal.!

 Is this normal because of the current situation of market?  Or a normal amount of  fee especially if the exchange is not yet popular?

 

It depends on the exchanges. Fees differ based on coins, market values, traffic and etc. I had to fall into this high fees last year when the values were in peak. Had to spend minimum 3 dollars for fees and thats how it was for everyone. but the fees differed based on the exchanges.

[BanaCrypto]

Yes , The fees on some exchainges are high so much , But if we are not happy with high fees ,then we can trade in other exchanges that have a low fee