How do you avoid high withdrawal fees from exchanges?

[alyssa85]

Try converting to a liquid and not highly volatile altcoin that is high enough in value that you won't be penalized significantly % wise if you cross the spread,

and still low enough in satoshi terms that the withdrawal fees will be economical.

One example is TRX, its fast transactions also insure that the risk of market fluctuation will be minimal...

This. I usually convert to either litecoin or doge, as they are both listed on most exchanges, and you can exchange both directly for fiat. Doge in particular has very low withdrawal fees (usually the equivalent of a fraction of a cent).

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[boris singer]

if the assets are sent in large amounts, transaction fees are not too much thought for some users. but I am sure there are many who avoid using btc and usdt in this matter. I usually use tron ​​and bnb because the process is very fast, the difference between selling and buying values ​​is not so significant at the same time, these two coins are also not favored for arbitrage for this reason.

[topbitcoin]

Sup guys,

Nowadays the fees to withdraw from exchanges are getting higher and higher, 0.001-0.002 BTC per transaction which is outrageous for a day trader with small trading capital.I'm asking the most experienced of you,do you have any tricks to avoid these fees? I thought of converting the BTC to another altcoin with low withdraw fees and then use another instant changer like SimpleSwap to reconvert again,but is it really sustainable? You tell me.

Simple, there are a lot of coins that have little amount withdrawal for fee. Usually i use XRP, TRX, Waves, and usually LTC. Depends on how much their withdrawal fee on the exchange. But make sure price between exchanges is only have little spread. Because sometime when we sell that coin, it can decrease our money value more than bitcoin withdrawal fees.

[tungaqhd]

Sup guys,

Nowadays the fees to withdraw from exchanges are getting higher and higher, 0.001-0.002 BTC per transaction which is outrageous for a day trader with small trading capital.I'm asking the most experienced of you,do you have any tricks to avoid these fees? I thought of converting the BTC to another altcoin with low withdraw fees and then use another instant changer like SimpleSwap to reconvert again,but is it really sustainable? You tell me.

I think there is no other solution except converting your BTC into altcoins then withdraw and reconvert again. I am using Yobit which have high BTC withdrawal fee so i often exchange BTC to LTC then withdraw to Binance and convert again.

[reallester]

Virtually all exchanges charge 0.01 xlm for withdrawal fee which is not even upto 50cents. To avoid outrageous withdrawal fees on any exchange, convert your $ to XLM for instance, then send the XLM then convert it back to btc if conversion sites like changelly.

[ethereumhunter]

If I don't want to pay high withdrawal fees, I will convert my bitcoin into an altcoin, and I can use trx, xlm, waves, or xrp, so I only pay small fees for withdrawing. But if you have a large amount of bitcoin, the fees will not be a problem because you still have a large bitcoin amount in another wallet. You can search for exchanges that have a low fee, so you don't have to a high fee for withdrawal.

[StephenieDuong]

I always exchange bitcoin to altcoin like ETH, XRP or USDT to lower the withdrawal fee, usually 1-2$ each withdraw time. But i only do this when withdrawal fee is above 10$ because when i exchange to altcoin, i have to pay for exchange fee.

[Oceat]

I always exchange bitcoin to altcoin like ETH, XRP or USDT to lower the withdrawal fee, usually 1-2$ each withdraw time. But i only do this when withdrawal fee is above 10$ because when i exchange to altcoin, i have to pay for exchange fee.

That's what I was doing in the past when Bitcoin was too much hyped due to bull market the transaction fees are tremendously high. That's why I switched or sell my Bitcoin to a stable altcoins and convert it to Bitcoin then send to my BTC address. I don't know why the transaction fees are getting higher these days to most exchanges.

[TGD]

Virtually all exchanges charge 0.01 xlm for withdrawal fee which is not even upto 50cents. To avoid outrageous withdrawal fees on any exchange, convert your $ to XLM for instance, then send the XLM then convert it back to btc if conversion sites like changelly.

I also use XLM and XRP and also LTC sometimes, it's better to look on which alt have lower transaction fees and just convert it in an app you'll be using or sell in the alt that you really wanted after using that exchange it came from. It all matters in how we will minimize the fees. Compute which is much lesser even it may take some time and inconvenience.

[panganib999]

You don't avoid them at this point. You try to move around it through conversion of Fiat to altcoin to BTC or vice versa. Some pairings have cheap fees which makes transacting them really worth the time, XRP being one of the most well known pairing to avoid withdrawal fees. Though at some point, you'd actually just forget the fees and transact as it is at times. I don't know if ETH could be called a good pairing, but XRP along with LTC should be a good choice if ever. Also, try and check exchanges that have lower fees than others, they may exist somewhere and if so, go choose them instead.

[Aveatrex]

If you're fine with submitting AML/KYC information, you might want to try out Bitfinex, as they've already integrated Lightning. Hence now you can deposit and withdraw your bitcoin fast and cheap: https://www.bitfinex.com/posts/440

Yeah,no I'm not keen on doing AML/KYC especially in the big exchanges unfortunately(or fortunately?),I'm not keen on keeping altcoins either.

If you're looking for yobit in particular, I think LTC is the cheapest that you can do.

Exchange your BTC into LTC, then convert it back to BTC on a site like Changelly or Changenow(despite the fact that they're somewhat shady in their own right) which charges less withdrawal fee. That way you're able to circumvent the 0.0016 BTC withdrawal fee.

You could also potentially use XRP as a means, but that market has lower liquidity afaik.

So far,the best method quoted is yours,it's smart to convert to LTC and then use a service like Changelly.

My question is whether there is still an exchange that imposes a fee of that size?, as far as I know the current WD fee is in the range of 0.0005BTC.

If you find exchange with that high fee better to avoid to trader there.

Well,considering you're wearing Yobit's signature,you should know that the WD fee in yobit is 0.0016BTC

[CarnagexD]

I always exchange bitcoin to altcoin like ETH, XRP or USDT to lower the withdrawal fee, usually 1-2$ each withdraw time. But i only do this when withdrawal fee is above 10$ because when i exchange to altcoin, i have to pay for exchange fee.

My technique too when I am going to withdraw I will convert it first to XRP or ETH before sending it to my wallet. Another is, I don't really withdraw that much, as much as possible I want a one time withdraw from all my holdings not only with bitcoin but also on other altcoins I hold. Transaction fees with bitcoin is very high right now, So I guess it will be good if you will not use that as escape in the market especially when you earned a lot.

[TitanGEL]

I always exchange bitcoin to altcoin like ETH, XRP or USDT to lower the withdrawal fee, usually 1-2$ each withdraw time. But i only do this when withdrawal fee is above 10$ because when i exchange to altcoin, i have to pay for exchange fee.

My technique too when I am going to withdraw I will convert it first to XRP or ETH before sending it to my wallet. Another is, I don't really withdraw that much, as much as possible I want a one time withdraw from all my holdings not only with bitcoin but also on other altcoins I hold. Transaction fees with bitcoin is very high right now, So I guess it will be good if you will not use that as escape in the market especially when you earned a lot.

Withdrawal fees are sucks, most of withdrawal fees are really expensive and it is hard to avoid it.  I choose an exchange that have lower withdrawal fees for me to save more money. There are a lot of strategy that we can use in order to avoid high withdrawal fees, changing the pair also can help to do it. If you will convert your bitcoins in other altcoins like ETH or LTC then if you withdraw it; the fees will be lower

[Dr.Osh]

I do that. exchanging bitcoin to altcoin to avoid a large fee is one strategy that is still quite worth it today. seeing the fee from bitcoin which is quite large, makes me always looking for ways to do that. yeah, for me 0.001 BTC is already big enough, so I looked for other alternatives. however, I feel that most people do this, some of the altcoins that I refer to for transactions are LTC, Waves, ETH, and LTC.

[alan2here]

I always exchange bitcoin to altcoin like ETH, XRP or USDT to lower the withdrawal fee, usually 1-2$ each withdraw time. But i only do this when withdrawal fee is above 10$ because when i exchange to altcoin, i have to pay for exchange fee.

My technique too when I am going to withdraw I will convert it first to XRP or ETH before sending it to my wallet. Another is, I don't really withdraw that much, as much as possible I want a one time withdraw from all my holdings not only with bitcoin but also on other altcoins I hold. Transaction fees with bitcoin is very high right now, So I guess it will be good if you will not use that as escape in the market especially when you earned a lot.

Withdrawal fees are sucks, most of withdrawal fees are really expensive and it is hard to avoid it.  I choose an exchange that have lower withdrawal fees for me to save more money. There are a lot of strategy that we can use in order to avoid high withdrawal fees, changing the pair also can help to do it. If you will convert your bitcoins in other altcoins like ETH or LTC then if you withdraw it; the fees will be lower

I agree with you. I usually use LTC or BCH to withdraw money because these are coins that usually have very low fees and are suitable for new investors to join. In fact, when participating in this market, the withdrawal is not a problem that I worry because there are many good options for investors. In addition, you can also transfer money freely in the exchange without any fee.

Of course, it may be a very cheap fee but if thousands of investors withdraw money, it will generate huge profits for that exchange.

[Janation]

I think I did this in the past but not now.

I usually exchange my Bitcoins into altcoins so I can avoid paying huge transaction fees in exchanges. I used Ripple in that time, now I don't usually do that because of the fact that the price of altcoins now is so low. It is sustainable but it still depends on what are you wanting to do with that altcoin.

[killerfrost]

I rarely withdraw money from exchange because I spend all my free assets to invest in this market. But there are some emergencies, I will choose a way to withdraw money with a very low withdrawal fee, I convert BTC to Dogecoin or ETH and then withdraw from exchange. Usually I only take about 1 $ withdrawal fee and I think that is the best way for you to use

[mk4]

If you're looking for yobit in particular, I think LTC is the cheapest that you can do.

Exchange your BTC into LTC, then convert it back to BTC on a site like Changelly or Changenow(despite the fact that they're somewhat shady in their own right) which charges less withdrawal fee. That way you're able to circumvent the 0.0016 BTC withdrawal fee.

You could also potentially use XRP as a means, but that market has lower liquidity afaik.

So far,the best method quoted is yours,it's smart to convert to LTC and then use a service like Changelly.

Take note though. When you're using exchanges, especially those sort of "instant" exchanges like Changelly, you're paying more fees simply by using their service. You might want to take that into account especially if you're exchanging a good amount.

[maydna]

Sup guys,

Nowadays the fees to withdraw from exchanges are getting higher and higher, 0.001-0.002 BTC per transaction which is outrageous for a day trader with small trading capital.I'm asking the most experienced of you,do you have any tricks to avoid these fees? I thought of converting the BTC to another altcoin with low withdraw fees and then use another instant changer like SimpleSwap to reconvert again,but is it really sustainable? You tell me.

I don't think that we need to pay those amounts to withdraw the bitcoin because the fee will be lower than 0.001 btc. I think in binance, bittrex, poloniex we don't have to pay that such amount, but in yobit, I see that the fee is more than 0.001 btc. But sometimes, I convert my profit in bitcoin to another coin, which allows me to send that amount with a lower fee. The coin is trx, waves, and ripple, and when I want to use that coin, I will check the price of that coin, whether at a low price or not, so I can get more amount of that coin if I send my profit with that coin.

[luckyflop]

I am not too concerned about the withdrawal fee, because I find it quite cheap and we do not need to convert to other altcoins to reduce the withdrawal fee. But if you withdraw a small amount of money, it is best to move bitcoin to XRP to be able to reduce a significant withdrawal fee. XRP withdrawal fee is very cheap and transaction speed is also very fast, you will not lose too much waiting time