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Author Topic: Some exchanges charges are too high  (Read 501 times)
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January 21, 2020, 03:14:59 PM
 #1

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out 

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January 21, 2020, 03:18:41 PM
 #2

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out 
Not all exchange market have the same fee charges and many of exchange have different payment fee but you can convert first you withdrawing ethereum or bitcoin become with doge coin or you can use litecoin for withdrawing, you can get little fee payment when withdrawing use altcoin like ltc, doge and you can use XRP to get little fees.

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January 21, 2020, 03:20:38 PM
 #3

The usual BTC withdrawal fee is around 0.0005BTC on many exchanges. You can trade the BTC to altcoins(LTC, DOGE, XRP) for the cheap withdrawal. Later use the coin swap instant exchange services for receiving the BTC. Btw, you can compare the withdrawal fees here: https://withdrawalfees.com/coins/bitcoin

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January 21, 2020, 03:22:52 PM
 #4

Saw many exchanger there withdrawal fee is higher. I hate hitbtc only for there withdraw fee.even there all coins of withdraw fee is higher,like btc,eth,ltc etc.Yobit btc withdraw fee is also higher 0.00012btc.but there ltc withdraw fee is low and I convert buy btc to ltc then I withdraw,to avoid high withdraw fee           

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January 21, 2020, 03:24:52 PM
 #5

That is why there is a thing called altcoin, an alternative coin that you can use beside Bitcoin. I rarely use Bitcoin to make a transaction because it takes a lot of time and requires a higher fee compared to Dogecoin or other altcoins.
I do not know there is an exchange that charges you 0.00005BTC for the withdrawal transaction fee? what exchange is that?



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January 21, 2020, 03:30:44 PM
 #6

I wish cryptopia exchange still works, that exchange have very low withdrawal fee and that makes it the best altcoin exchange on my list followed by stex exchange, its better to check exchange fees out before you deposit on them, few exchanges are living hell for people who have not much money

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January 21, 2020, 03:34:06 PM
 #7

 if I want to withdraw money from some exchange and transfer it to another exchange, then I just buy TRX and transfer this coin. as a rule, the commission for the withdrawal of TRX is not more than 10 TRON. this is one of the smallest commissions that are now we have and this coin can be sold almost everywhere

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January 21, 2020, 03:35:28 PM
 #8

Well, as you say, some of them charge big fees but are the users' desition if they use that services or to move to another option. Exchanges choose the fees, but if the user really hight fees they will only lose customers.

The option of swap the coins to pay smaller fees isn't good at all, because at some point you will have to move from the Altcoin to BTC back.

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January 21, 2020, 03:37:27 PM
 #9

I think its  almost the standard now, 0.001 BTC are mostly the withdrawal fees, trading fees are pretty much cheaper. Binance charge 0.0005 BTC but most of the exchanges I have been into its 0.001. I can't really complain since its their exchange, its their rules. What I do is trade my coins to XRP or ETH and then move to another exchange or cash out. With this, my fee with just be less than a $1.

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January 21, 2020, 03:38:45 PM
 #10

sometimes exchanges that demand high fees must be abandoned, because they worsen the big name of the crypto industry. with a large withdrawal fee makes people think that every exchange will be like this, especially if new users are directly using the exchange.

 
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January 21, 2020, 03:39:09 PM
 #11

fee is unavoidable, but if it is too high compared to other exchangers, in my opinion do not use the exchanger, unless the token from your bounty is there then you will be forced to use it.

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January 21, 2020, 03:46:12 PM
 #12

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out 
I also do it in different exchanges, its better and cheaper than withdrawing using BTC. Changing XRP is a cheaper solution too. Just convert it in a wallet capable of converting it easily.

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January 21, 2020, 03:50:41 PM
 #13

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out 

That is one heck of a high fee.
It's called robbery.

Even with dynamic mode it wont take that much.
I have been trying other exchange and the highest I have bumped into is 50k sats which looks normal now.
It is a good thing for you wont be listed in the pool and wait. That 50k is like the VIP mode.

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January 21, 2020, 03:58:21 PM
 #14

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out 

They are making profit from trading and withdrawal, I have the same experience with my earnings on Yobit I have to trade it to XRP or Litecoin and I'm lucky that my local exchange, accepts Litecoin to trade into fiat, but if you have the choice pick exchanges that offer the lower withdrawal fee, or if you cannot avoid to trade there you really have no chance but tot trade it to other coins.

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January 21, 2020, 04:12:03 PM
 #15

Yes There are some exchanges with high bitcoin withdraw fees like yobit they charge around 12$ for every withdraw
I had to change my btc to dash to withdraw with low fees.

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January 21, 2020, 04:13:21 PM
 #16

I think it's the same in every exchange if the user wants to make a withdrawal via bitcoin it will charge 0.001 and I think it's natural because most exchanges are like that.
If you want to be cheap in making withdrawals from an exchange then I suggest using a token it will be cheap and fast in its transactions.

 
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January 21, 2020, 04:14:26 PM
 #17

Yes lots of exchange charge high fee when withdraw, i think this all because that exchange get not too much trading fee and they could not cover withdraw fee. I have some bad experience with hitbtc, they are a big exchange but seem they do not want release small penny from investors. Most of the coins withdraw fee on that exchange may up to 25$ and this may rise if the coin price rise.

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January 21, 2020, 04:15:14 PM
 #18

that's true and at least i'm surprised at the high fees, even though high fees guarantee our transactions are safer but with costs that place up to 0.001 it will only make the user look for other alternatives or will even leave exchanges that have low fees
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January 21, 2020, 04:21:04 PM
 #19

actually the size of the exchange fee depends on the quality of the exchange itself because they take advantage of the withdrawal fees and trading transaction fees to avoid losses, but we as users must be smart in choosing cheap digital money, which is usually that I use TRX to move my assets as usual cheap withdrawal


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January 21, 2020, 04:22:01 PM
 #20

Some of the exchanges has expensive withdrawal fee but if you want to take your coins out from the exchange that charges you with high fees you can exchange your coins to other altcoin with low withdrawal fee like XRP or ETH. This is what I do when withdrawing them directly to my local wallet with less fee.
But if you want to withdraw your coins into BTC well most of the exchanges asking high fees but some exchanges asking less fee if you have some token like Binance with BNB promo. So if you want to exchange with less withdrawal fee better go to exchanges with own coins/token like binance or Kucoin or OKex.

Block halving is coming.,,
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