Bitcoin withdrawal fee is damn high in exchanges!

[bryant.coleman]

I have used almost two dozen different exchanges till now (2012-present), and I have seen withdrawal fee ranging from BTC0.0001 to BTC0.0015. Perhaps the highest withdrawal fee that I ever paid was with the Yobit exchange (I think that they have reduced the fees now). Nowadays I don't care much because I am not doing much trading. And I am mostly using peer-to-peer platforms to convert my cryptocurrency to fiat (or the other way around). The problem is that many of these exchanges had this withdrawal fee of 0.001 BTC or 0.0015 BTC in 2015 when the price of Bitcoin was just around $250. The prices have risen by almost 40 times from that level, but most of the exchanges haven't reduced their fees.

[BlackFor3st]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

There is a big chance that these exchangers are using the fastest speed of bitcoin transaction so you can receive your money in short period of time so it will not stuck for few hours because the transaction fee is very low.

But there are few exchangers out there also that they just do this kind of stuff just to earn, it will be best if you will just avoid these kind of exchangers if possible so you can save. Or you can just sell your bitcoin and use other currencies that has a low transaction fees like Ethereum,XRP and etc.

[Dr.Osh]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

I have the same opinion as you. I am also quite sure that the current lack of bitcoin is a sizable fee. because of that, before sending bitcoin, I sometimes exchange it to altcoin to minimize fees. Well, I sometimes use waves, TRX, ETH, and other altcoins to make deliveries.

[Sebas.tian]

Well, that has been in existence and not new to us. If you're a trader ensue to trade your coins on exchange and after which you convert to altcoins to minimize transaction fee while transfer your coins to your wallet.  One of.my secret in trading and gambling is, after trading with Bitcoin and gamble with the said  coin, I then swap them to altcoin and move them out of the exchange with a less transaction fee.

[DabsPoorVersion]

There is nothing new to this issue and there is nothing we can do to reduce it.
That's is also why we have alternative options that we can use to avoid paying high transaction fees when initiating any transaction using bitcoin. I am currently using altcoins to withdraw (which is also been done by most users), like XRP and ETH, this way, you can minimize your transaction fees.

[LogitechMouse]

The only lackings I see in bitcoin is its too high withdrawal fee.

Bitcoin itself has already a high withdrawal fee and TBH, I also experienced the time when the price of Bitcoin is at its peak last 2017 and the fees per transaction at that time went to 0.001 BTC.

Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

Business.

This will answer your question why they are asking this high fee . If you don't like their fees, don't use their exchange. Simple as that however if you are a good trader, you must know that there are other altcoins who has lower fees like Doge or ETH or LTC. You can use them. Convert first your Bitcoin into other coin like Doge then withdraw it then convert it again into BTC. More hassle but in that way, it will reduce the fees .

[perla]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

From what i see, at past exchanges increased withdrawal fee first. And then, price keep increased so it looks like exchange have really big fees if we count it in USD, but people's assets is bigger too.

[Capt00]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

From what i see, at past exchanges increased withdrawal fee first. And then, price keep increased so it looks like exchange have really big fees if we count it in USD, but people's assets is bigger too.

It is often to see that once the market moving high the fees may also increase, in fact, I'd notice it last 2017 Bullrun. Well, maybe it is not right to condemn exchanges that collecting high fees because that is only the way they could save them and stay alive, and it's up to us if we will like to use their service or not. Anyway, we have a lot of exchanges around and most likely they are of similar fees 0.0005-0.001BTC. I know it wasn't fair for us but because fees aren't standardized therefore, they could still be allowed to collect that amount.

[Williams_Leo]

I have used almost two dozen different exchanges till now (2012-present), and I have seen withdrawal fee ranging from BTC0.0001 to BTC0.0015. Perhaps the highest withdrawal fee that I ever paid was with the Yobit exchange (I think that they have reduced the fees now). Nowadays I don't care much because I am not doing much trading. And I am mostly using peer-to-peer platforms to convert my cryptocurrency to fiat (or the other way around). The problem is that many of these exchanges had this withdrawal fee of 0.001 BTC or 0.0015 BTC in 2015 when the price of Bitcoin was just around $250. The prices have risen by almost 40 times from that level, but most of the exchanges haven't reduced their fees.

Well, the market has a lot of big growth, especially the value of bitcoin is overestimated, with this estimate, exchanges need to establish a fee that is consistent with that value, if we don't feel right, we can look for other exchanges with lower fees or convert to some stable altcoins, the cost will be adjusted accordingly. In addition, the high fee for withdrawing bitcoin is also a strategy of exchanges, it's not entirely bad, it will limit the situation where bitcoin is leaked too much, the market will be harder to collapse than normal

[qory]

All exchange have the same value for withdrawing bitcoin about 0.0005 btc each transaction, but you can manipulated with lower fee payment transaction by convert before your bitcoin withdraw to be altcoin have cheap or lower price like Ripple, doge and you can use xlm coin.

[julius caesar]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

My suggestion is try to convert it on the other kind of coin first. Try to exchange it for ethereum and ripple first because these two coin has a low withdrawal fee. Many people are doing it for them to be able to avoid the 10$ withdrawal fee of bitcoin. It will for surely gonna save you a big amount of money so try it and check it out.

[nakamura12]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

My suggestion is try to convert it on the other kind of coin first. Try to exchange it for ethereum and ripple first because these two coin has a low withdrawal fee. Many people are doing it for them to be able to avoid the 10$ withdrawal fee of bitcoin. It will for surely gonna save you a big amount of money so try it and check it out.

That's what I basically did if I want to transfer my fund from an exchange to a wallet I own then sell it to either fiat or back to btc. In my case, I can convert my btc to eth using the wallet I use. Most people in my country also use the same wallet that has a feature to convert  your eth to btc or fiat.

[wesbitcoin]

If you don't intent to store the amount of Bitcoin you bought into a wallet but want to sent to another exchange instead, then you can trade in another cryptocurrency that has the lower withdrawal fees and then rebuy Bitcoin on the other exchange. You will certainly pay less in fees this way.

[Luqueasaur]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

My exchange (MercadoBitcoin, a Brazilian exchange) asks for 3 BRL (~0.75 USD) + 1,99% of the value you'll withdraw. So if you're withdrawing 1 BTC...

They get 900 BRL.

That's one month of minimum wage right there.

[LUCKMCFLY]

~snip~

The truth is that the only Exchnge that I use to pass my BTC to my wallet or any other Exchange, is from Binance activating the part of its BNB currency, with that they charge only half that is 0.0005BTC per fee, it seems to me that it is more reliable than That way, and Coinbase also has a good fee rate. Of course it is under my personal experience.

[rodskee]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

but you always have a choice mate because if the one exchange has high fee then the others have low,check this out for references https://forkdrop.io/#table-exchanges
maybe you will find the exchange fees you want in each occasions .
sometimes all we need is just to find option because in crypto world we have lots of choices but only if we can find them.

~snip~

The truth is that the only Exchnge that I use to pass my BTC to my wallet or any other Exchange, is from Binance activating the part of its BNB currency, with that they charge only half that is 0.0005BTC per fee, it seems to me that it is more reliable than That way, and Coinbase also has a good fee rate. Of course it is under my personal experience.

while Binance is the most popular in this time of ours still there are some others that we can use with lower fees.

[matchi2011]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

My suggestion is try to convert it on the other kind of coin first. Try to exchange it for ethereum and ripple first because these two coin has a low withdrawal fee. Many people are doing it for them to be able to avoid the 10$ withdrawal fee of bitcoin. It will for surely gonna save you a big amount of money so try it and check it out.

If you are not in the need of btc or you are just need to transfer your assets to another exchange, this kind of act will fits you. It's practical to convert
crypto coin to another assets that have much lesser withdrawal fee. As long as the exchange or wallet that you'll going to use as receiver also have
the same  address with whatever crypto coin you'll be going to use.

[Dr.Osh]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

My suggestion is try to convert it on the other kind of coin first. Try to exchange it for ethereum and ripple first because these two coin has a low withdrawal fee. Many people are doing it for them to be able to avoid the 10$ withdrawal fee of bitcoin. It will for surely gonna save you a big amount of money so try it and check it out.

in general, this is something people often do when withdrawing bitcoin. However, if you don't want a large fee, I think there are a number of new exchangers out there who provide free event fees, or discounts. You can also try to use the token system on some exchangers, by using tokens from their products, sometimes the cost is reduced. but, I would suggest using another altcoin.

[btc78]

The only lackings I see in bitcoin is its too high withdrawal fee. Almost every exchange takes such a huge fee for bitcoin transactions. I tried in several exchanges and was shocked because they all are asking 9-12$ withdrawal fee! What do you think about this issue guys? Why are they asking this high fee?

yeah it’s true.  bitcoin is its too high withdrawal fee. Because, The price of Bitcoin is very high, so the low amount of Bitcoin becomes more in dollar terms

Not because the price is high meaning the fee are high also,because there are also cheap currency that has higher fee.

The reason for the high fee call for questions. There is no exchange that does not charge for trading fees, outside that most of them have a native coin that can sustain the business. Well, some exchanges are coming gradually now with zero trading fees, if they can defend their reputation, things will change in the near future.

But there are exchanges that offers lower fees,so why need to stick on high fees exchange when we can use the cheapest?but of course find legit one and don't be scammed.

[AdoboCandies]

That's right, that's why it's hard for a small time trader to even start trading because there are some exchanges that requires large withdrawal fee and also the minimum amount to be withdrawn is too damn high, but there are some exchanges that offers their great services, low trading fee, low withdrawal fee and low withdrawal amount just try and search for the right exchange for the amount of how much you want to trade try Bitpanda it's a good exchange with low withdrawal fees.