How do you avoid high withdrawal fees from exchanges?

[justdimin]

There is usually no way of avoiding it, I mean you can use altcoins but in the end you will need to turn that into fiat and from altcoin to fiat is not really that possible anymore.

I really want to use ethereum for example but the place I work with have some sort of horrible policy where if the money comes from a erc20 wallet like mew or metamask then they don't put it on your tab and it took me weeks last time that happened which is why I can't use ethereum, I am looking into litecoin for example or nowadays wave but I can't really turn them into fiat that easily since volume is very very low in the exchange I use. Basically, market kinda forces you to use bitcoin after a while, it is still the most expensive way to do it but also easiest there is as well.

[AmoreJaz]

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.

you already answered your question. normally, i convert my BTC to doge and then transfer it to exchange that has lower withdrawal fee. though the savings is not that much but sometimes if you have all the time to do that, you may want to save some few bucks. but you need to be careful with exchanges that have low withdrawal fees, check if the tx duration is fine for you. because the lower the tx fee, the longer it may come to your acct.

[SoeNan89]

Avoid high withdrawal fees from Exchange I always choose other coins that give low fees, like Dogecoin. So when I want to withdraw my assets, I make it first to Dogecoin. I think that can be one way to avoid high fees. If the Exchange is not listing Doge then I choose LTC.

[Karmakid]

I simply use XRP. It is funny because a lot of people hate XRP because they say that it is a centralized cryptocurrency and there is no reason for XRP to belong to the cryptocurrency market. To be honest, it is a reliable cryptocurrency and it is insanely fast, In just a few moment, the transaction get confirmation and my transaction is complete. It is much faster compare to the time of transaction with bitcoin.

[perla]

I actualy agree with man above , because use altcoins means is if we want to transwer in between exchanges. But to our wallet, maybe sometime they don't support coin that can help us to get cheaper withdrawal fee. That maybe happen for some people and they don't have other choice beside to use BTC to withdraw.

[gabbie2010]

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 am very comfortable with ethereum as a means of withdrawal while avoiding the high fees charged by some exchanges particular when withdrawing my earnings from yobit I trade my bitcoin to ethereum to avoid the high withdrawal charges so far so good I didn't have issue with that as most of the transactions was swift.

[nicolas1979]

Switch into altcoin with low fees for withdraw process is the answer. Alternative method is use faucet to reduce fees, connect your exchanges wallet to receive faucet from micro wallet that follow faucet program. Last step is try to increase your profit to reduce fees, so far only that method I know. LTC and XRP become the most popular coin for withdraw, fees is small and the network not crowded like bitcoin or ethereum.

[Darooghe]

In my opinion bitcoinity.org has a great set of tables, all of which are exportable as csv or xls. Go to their section labeled data and you'll find tons of charts for various exchanges and currencies, as well as options for time scope and interval detail. aslo you could try coinmarketcap.com. just select the currency, go to historical data tab, set date range, copy table data, paste in excel.

[sovie]

I simply use XRP. It is funny because a lot of people hate XRP because they say that it is a centralized cryptocurrency and there is no reason for XRP to belong to the cryptocurrency market. To be honest, it is a reliable cryptocurrency and it is insanely fast, In just a few moment, the transaction get confirmation and my transaction is complete. It is much faster compare to the time of transaction with bitcoin.

I too convert mostly to xrp or to altcoins like doge to avoid higher withdrawal fee. Withdrawing Bitcoin is very expensive.
XRP is surely not a cryptocurrency but being centralized one it has a high lower transaction fee and higher speed. Something that decentralized bitcoin lacks.

[Ipwich]

Withdrawal is not a big issue if you are moving a huge amount but you're just moving a small amount, it certainly of big concern. To save some, I used to convert my BTC to XRP or ETH and you can see that it only cost for just $1...it really saves a lot. And besides, I'd never have issues regarding transaction delays cause if you just input the right addy, it surely arrived.

[samuraijin]

not only on bitcoin but also ethereum around 0.01 ETH or more, I often convert the BTC and ETH to DOGE or XLM because both have cheaper withdrawal fees from the exchange or can also use LTC, I worry in the future when prices go up in all markets will blackmail us with high withdrawal fees, should if the price of bitcoin and ETH rises higher, the withdrawal fee is better reduced

[JC btc]

not only on bitcoin but also ethereum around 0.01 ETH or more, I often convert the BTC and ETH to DOGE or XLM because both have cheaper withdrawal fees from the exchange or can also use LTC, I worry in the future when prices go up in all markets will blackmail us with high withdrawal fees, should if the price of bitcoin and ETH rises higher, the withdrawal fee is better reduced

That's a good strategy, me too, I am withdrawing my fund most of the time in XRP as it has less fee and very fast to transact, compare if you will withdraw Bitcoin direct from exchange to your wallet, it has really a high difference. I haven't tried LTC yet, most of the time I am using XRP and ETH. Anyway, let's avoid as much as possible for our own good.

[Chrystora123]

until now if I want to transfer my Bitcoin to another wallet (from one exchange to another exchange) then I will convert it to Stellar or XEM.  convert to Stellar is the one I recommend the most because usually, the cost is very very cheap.

[rijaljun]

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 do trade bitcoin to altcoin with low fees to send them with minimum fees then trade back to Bitcoin in the targetted exchange. Why would I need auto-swap for that? Also auto-swap sometimes give lower rates than in exchanges so you would get even less Bitcoin at the end.

[BChydro]

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.

That is the only solution you have to avoid the high bitcoin withdrawal fees, most of the exchanges are having high withdrawal charges and there is nothing we can do about it other than looking for other alt coins which have a low withdrawal charge and most of the exchanges have some or the other coins that have small withdrawal fees, i am talking about big exchanges, not sure about small exchanges.

[electronicash]

there is no way you can avoid the high withdrawal fee if you intend to keep your BTC into a cold storage but if you eventually will cash out try the XRP or TRX. you can finally see the use of TRX or XRP when it comes to that since they are the most liquid so far.  binance will only ask 0.0005 BTC, if they will allow us to withdraw and take bnb as fee, it would earn them more traders.

[1Referee]

I worry in the future when prices go up in all markets will blackmail us with high withdrawal fees, should if the price of bitcoin and ETH rises higher, the withdrawal fee is better reduced

You mean exchanges to blackmail people? I haven't heard of that one before.

Binance for example works with a fixed withdrawal fee of 0.0005BTC regardless of how high the price is or how heavily the network congested is. I like that. It may suck a little bit today because the network fees are very low, but whenever we see the an explosion in use similar to what happened in 2017, I'm sure that you will thank Binance for not increasing its fees.

Coinbase on the other hand works with a dynamic fee that changes based on how congested the network is. Currently you enjoy very low withdrawal fees, but whenever the network gets heavily congested again, you will pay whatever the actual miner fee is to get your transaction included in the next block. Coinbase's withdrawal fees in 2017 were +0.002BTC for quite a while. People didn't like that.

[Findingnemo]

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.

Not all the exchanges got that high withdrawal fixed fee,so if you found that you are an exchange with high fee then you need to change the platform soon.

Using anonymous exchange is not really a solution to avoid the fee because of the prices are comparatively low with exchanges so you will lose small profits which could be same paying high withdrawal feel.

Use binance exchange which got low fee.

[moviebuff777]

Withdrawal fees are one of the ways trading is not always a good investment. You lose money in trading fees, and in fees transferring to and from an exchange.

[samcrypto]

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.

Withdraw once a month and not on every trade so you can at least lessen the cost. The fees are high and this is why you have to overcome the fees through your profit in trading and make sure that the fees are worth it because you gain already. Your plan is too hassle and requires a lot of wallet that might take a big cost if you made it so many time, if you are a small trader everyday then keep your capital on the exchange and withdraw big later on.